What is Varonis Systems's EV / sales?

Varonis Systems (VRNS) reported EV / sales of 3.7× in Q1 2026.

How has Varonis Systems's EV / sales changed year-over-year?

Varonis Systems's EV / sales decreased by 55.5% year-over-year, from 8.2× to 3.7×.

What is the long-term trend for Varonis Systems's EV / sales?

Over 5 years (2020 to 2025), Varonis Systems's EV / sales has grown at a -21.0% compound annual growth rate (CAGR), from 19.4× to 6×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

Varonis Systems VRNS EV / sales

EV / sales at other companies

MicrosoftMSFT

8.9×-1.7×

Palo Alto Networks, Inc.PANW

13.7×+0.8×

CrowdStrike Holdings, Inc.CRWD

21.4×-2.5×

RubrikRBRK

7.4×-5.9×

Commvault SystemsCVLT

2.2×-4.5×

SentinelOneS

4.6×-4.6×

Other financials

Income statement

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Revenue$173.1M+26.9%

Gross profit$131.6M+22.5%

Operating income-$44.5M-1.6%

Net income-$36.9M-3.0%

EPS (diluted)-$0.320.0%

Balance sheet

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Cash & equivalents$179.3M+17.1%

Total debt$69.4M-77.0%

Total equity$453.5M+23.3%

Total assets$1.6B+3.6%

Cash flow

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Operating cash flow$55.0M-19.1%

CapEx$5.0M+113%

Free cash flow$50.1M-23.7%

Valuation

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Market cap$4.02B-44.6%

Profitability

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Gross margin78.1%-4.2pp

Operating margin-22.3%+3.1pp

Net margin-19.7%+6.4pp

FCF margin18.1%-2.5pp

Returns & leverage

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Return on equity-31.8%+24.0pp

Debt / equity0.2×-0.7×

Current ratio1.7×+0.5×

Where this comes from

Calculated from Varonis Systems’s reported figures.

enterprise value/total revenue=3.7×

Based on the most recent quarter.

The official record: Varonis Systems’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Varonis Systems's EV / sales?: Varonis Systems (VRNS) reported EV / sales of 3.7× in Q1 2026.
How has Varonis Systems's EV / sales changed year-over-year?: Varonis Systems's EV / sales decreased by 55.5% year-over-year, from 8.2× to 3.7×.
What is the long-term trend for Varonis Systems's EV / sales?: Over 5 years (2020 to 2025), Varonis Systems's EV / sales has grown at a -21.0% compound annual growth rate (CAGR), from 19.4× to 6×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.