VARONIS SYSTEMS, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 44.57 USD | +1.78% |
|
-2.34% | -1.57% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,369 | 5,191 | 5,235 | 2,639 | 4,933 | 4,883 | - | - |
| Enterprise Value (EV) 1 | 2,248 | 5,111 | 4,653 | 2,155 | 4,650 | 4,357 | 4,299 | 4,358 |
| P/E ratio | -29.9 x | -54.7 x | -43.9 x | -21 x | -49.2 x | -43.7 x | -43.6 x | -80.7 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 9.32 x | 17.7 x | 13.4 x | 5.57 x | 9.88 x | 9 x | 7.97 x | 6.93 x |
| EV / Revenue | 8.85 x | 17.5 x | 11.9 x | 4.55 x | 9.32 x | 8.03 x | 7.02 x | 6.18 x |
| EV / EBITDA | -108 x | 937 x | 129 x | 51.7 x | 124 x | 178 x | 91.8 x | 47.1 x |
| EV / FCF | -62.3 x | -320 x | -1,405 x | 4,537 x | 85.6 x | 59.3 x | 45.9 x | 31.8 x |
| FCF Yield | -1.6% | -0.31% | -0.07% | 0.02% | 1.17% | 1.69% | 2.18% | 3.15% |
| Price to Book | 25.4 x | 55.3 x | 8.79 x | 5.13 x | - | 11.8 x | 10.1 x | 8.74 x |
| Nbr of stocks (in thousands) | 91,453 | 95,181 | 107,324 | 110,220 | 108,953 | 111,503 | - | - |
| Reference price 2 | 25.90 | 54.54 | 48.78 | 23.94 | 45.28 | 44.57 | 44.57 | 44.57 |
| Announcement Date | 2/10/20 | 2/8/21 | 2/7/22 | 2/6/23 | 2/5/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 254.2 | 292.7 | 390.1 | 473.6 | 499.2 | 542.4 | 612.3 | 705 |
| EBITDA 1 | -20.88 | 5.455 | 36.13 | 41.71 | 37.56 | 24.49 | 46.81 | 92.53 |
| EBIT 1 | -27.2 | -4.448 | 25.24 | 29.53 | 28.74 | 11.61 | 28.08 | 70.34 |
| Operating Margin | -10.7% | -1.52% | 6.47% | 6.24% | 5.76% | 2.14% | 4.59% | 9.98% |
| Earnings before Tax (EBT) 1 | -76.38 | -85.9 | -110.8 | -110.8 | -86.92 | -92.86 | -94.98 | -33.38 |
| Net income 1 | -78.76 | -94.01 | -116.9 | -124.5 | -100.9 | -124 | -128.2 | -79.7 |
| Net margin | -30.99% | -32.12% | -29.95% | -26.29% | -20.22% | -22.86% | -20.94% | -11.3% |
| EPS 2 | -0.8667 | -0.9967 | -1.110 | -1.140 | -0.9200 | -1.019 | -1.022 | -0.5522 |
| Free Cash Flow 1 | -36.08 | -15.96 | -3.312 | 0.475 | 54.32 | 73.44 | 93.58 | 137.2 |
| FCF margin | -14.19% | -5.45% | -0.85% | 0.1% | 10.88% | 13.54% | 15.28% | 19.45% |
| FCF Conversion (EBITDA) | - | - | - | 1.14% | 144.62% | 299.82% | 199.93% | 148.23% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 2/10/20 | 2/8/21 | 2/7/22 | 2/6/23 | 2/5/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 126.6 | 96.26 | 111.4 | 123.3 | 142.6 | 107.3 | 115.4 | 122.3 | 154.1 | 114 | 124.9 | 135.5 | 167.9 | 129.4 | 142.4 |
| EBITDA 1 | 24.99 | -5.217 | 4.158 | 12.74 | 30.02 | -1.39 | 3.829 | 7.795 | 29.7 | -7.663 | -2.258 | 7.828 | 27.45 | -0.4392 | 5.729 |
| EBIT 1 | 22.38 | -7.896 | 1.66 | 9.797 | 25.97 | -4.281 | 0.913 | 4.866 | 27.24 | -10.57 | -5.34 | 3.189 | 24.54 | -8.767 | 0.127 |
| Operating Margin | 17.68% | -8.2% | 1.49% | 7.95% | 18.21% | -3.99% | 0.79% | 3.98% | 17.68% | -9.27% | -4.28% | 2.35% | 14.62% | -6.78% | 0.09% |
| Earnings before Tax (EBT) 1 | -21.92 | -47.35 | -34.59 | -23.15 | -5.723 | -35.34 | -31.25 | -20.51 | 0.189 | -39.09 | -32.39 | -23.18 | 1.882 | -26 | -21.4 |
| Net income 1 | -24.94 | -48.76 | -36.29 | -28.72 | -10.75 | -38.3 | -38.7 | -23.02 | -0.898 | -40.49 | -37.51 | -30.73 | -12.18 | -47.28 | -43.27 |
| Net margin | -19.71% | -50.66% | -32.56% | -23.29% | -7.54% | -35.69% | -33.53% | -18.82% | -0.58% | -35.51% | -30.04% | -22.67% | -7.25% | -36.54% | -30.38% |
| EPS 2 | -0.2300 | -0.4500 | -0.3300 | -0.2600 | -0.1000 | -0.3500 | -0.3500 | -0.2100 | -0.0100 | -0.3700 | -0.3299 | -0.2389 | -0.1011 | -0.3204 | -0.2625 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/7/22 | 5/2/22 | 8/1/22 | 10/31/22 | 2/6/23 | 5/1/23 | 7/31/23 | 10/30/23 | 2/5/24 | 5/6/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 120 | 79.8 | 582 | 484 | 283 | 526 | 584 | 525 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -36.1 | -16 | -3.31 | 0.48 | 54.3 | 73.4 | 93.6 | 137 |
| ROE (net income / shareholders' equity) | -25.4% | -8.16% | 4.53% | 4.11% | 9.21% | 4.18% | 8.08% | 12.2% |
| ROA (Net income/ Total Assets) | - | -1.75% | 1.88% | 2.1% | 4.25% | -3.14% | -1.74% | 2% |
| Assets 1 | - | 5,366 | -6,216 | -5,934 | -2,374 | 3,946 | 7,389 | -3,986 |
| Book Value Per Share 2 | 1.020 | 0.9900 | 5.550 | 4.660 | - | 3.770 | 4.410 | 5.100 |
| Cash Flow per Share 2 | -0.1200 | -0.0600 | 0.0700 | 0.1100 | 0.5400 | 0.6600 | 0.8000 | - |
| Capex 1 | 25.4 | 10.1 | 10.5 | 11.4 | 5.1 | 8.6 | 11.3 | 11 |
| Capex / Sales | 9.99% | 3.46% | 2.69% | 2.41% | 1.02% | 1.59% | 1.85% | 1.55% |
| Announcement Date | 2/10/20 | 2/8/21 | 2/7/22 | 2/6/23 | 2/5/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
44.57
USD
Average target price
51.56
USD
Spread / Average Target
+15.67%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.57% | 4.88B | |
| +15.37% | 332B | |
| +26.25% | 219B | |
| +7.65% | 148B | |
| +11.24% | 56.57B | |
| +17.54% | 33.46B | |
| +5.79% | 30.05B | |
| +138.03% | 23.02B | |
| +29.32% | 21.36B | |
| +51.75% | 15.08B |
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- Financials Varonis Systems, Inc.
