LIVE
TENB
Tenable Holdings, Inc. · Technology
$26.87
+6.42% this month
VERSUS
⟷
COMPARE
QLYS
Qualys, Inc. · Technology
$111.30
+11.20% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
TENB
3
QLYS
1
Comparison scoreboard
TENB LEADS 3/5AI Score
TENB 23.5
QLYS ✓37.0
1Y Return
TENB ✓-17.95%
QLYS -18.88%
Fwd P/E
TENB ✓12.37
QLYS 13.47
Target Up.
TENB ✓+7.37%
QLYS -3.52%
Op. Margin
TENB N/A
QLYS N/A
Metrics last refreshed: 6/20/2026
Quick take
TENB vs QLYS Stock Comparison: AI Score, Valuation, Performance and Upside
Tenable and Qualys are the two leading independent vulnerability management SaaS companies, offering similar core VM capabilities with different architectural approaches, financial profiles, and market expansions. Qualys is significantly more profitable but growing more slowly; Tenable has a larger installed base, stronger OT security, and is expanding into broader exposure management through Tenable One.
TENB vs QLYS is a comparison between the larger, growth-focused exposure management platform (Tenable) and the highly profitable, cloud-delivered VM specialist (Qualys) — Qualys offers better near-term profitability and cash returns, while Tenable offers more platform expansion potential through OT security and identity risk exposure management.
Live analysis · updated 6/20/2026
TENB holds the edge across 3 of 5 key metrics in this comparison. TENB leads on both 1-year return (-17.95%) and forward P/E (12.37x vs 13.47x for QLYS), a relatively favorable combination of momentum and valuation. Analyst consensus implies meaningfully more upside for TENB (+7.37%) than for QLYS (-3.52%).
Normalized 1Y performance
TENB
QLYS
Recent returns
TENB
QLYS
Analyst price targets & sentiment
TENB · 20 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.2/5.0)
Price target range
analyst low$20.00
analyst high$38.00
analyst mean$28.85
current price$26.87
+7.4% upside to analyst mean
QLYS · 19 analysts
STRONG BUYHOLDSTRONG SELL
Hold (2.7/5.0)
Price target range
analyst low$85.00
analyst high$161.00
analyst mean$107.39
current price$111.30
-3.5% upside to analyst mean
Who should consider this stock?
TENB may suit investors who:
- →prefer the larger VM market leader expanding into OT security and exposure management via Tenable One
- →value Nessus scanner installed base and Tenable One's converged IT/cloud/OT/identity exposure risk platform
- →want a security growth story tied to vulnerability management platform expansion beyond traditional IT scanning
- →are comfortable with lower profitability than Qualys as Tenable invests in platform expansion and cloud security
QLYS may suit investors who:
- →prefer the most profitable standalone VM company with 35%+ operating margins and strong free cash flow generation
- →value Qualys's cloud-delivered agentless scanning architecture as a differentiated continuous assessment approach
- →want VM market exposure at strong profitability with capital returns via buybacks from consistent free cash flow
- →are comfortable with slower revenue growth than Tenable in a mature VM market with significant competitive pressure from broader security platforms
Performance & AI score
| Metric | TENB | QLYS |
|---|---|---|
| AI score | 23.5 | 37.0 |
| AI rank | #3532 | #1446 |
| Latest close | $26.87 | $111.30 |
| 1M return | +6.42% | +11.20% |
| 6M return | +8.96% | -21.59% |
| 1Y return | -17.95% | -18.88% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | TENB | QLYS |
|---|---|---|
| 1Y ago | $8.2K (-18.0%) started 2025-06-18 | $8.11K (-18.9%) started 2025-06-18 |
| 5Y ago | $6.13K (-38.7%) started 2021-06-18 | $10.5K (+5.0%) started 2021-06-18 |
| 10Y ago | $8.88K (-11.2%) started 2018-07-26 | $35.87K (+258.7%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | TENB | QLYS |
|---|---|---|
| Market cap | $2.96B | $3.92B |
| Trailing P/E | N/A | 19.98 |
| Forward P/E | 12.37 | 13.47 |
| Price/Sales | 2.90 | 5.72 |
| EV/Revenue | 2.96 | 5.23 |
| Analyst target | $28.85 | $107.39 |
| Target upside | +7.37% | -3.52% |
Growth, profitability & risk
| Metric | TENB | QLYS |
|---|---|---|
| Revenue growth | 9.60% | 9.80% |
| Earnings growth | N/A | 10.10% |
| EPS growth | N/A | +10.10% |
| FCF margin | +25.02% | +34.66% |
| Operating margin | N/A | N/A |
| Profit margin | -1.15% | 29.41% |
| ROIC proxy | -3.73% | 37.72% |
| Return on equity | -3.73% | 37.72% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 0.99 | 0.65 |
| Debt/equity | 169.93 | 9.16 |
| Current ratio | 0.85 | 1.43 |
| Quick ratio | 0.70 | 1.32 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
TENB max drawdown54.77%
QLYS max drawdown50.46%
TENB max wkly drop22.17%
QLYS max wkly drop19.15%
5Y risk snapshot
TENB max drawdown74.40%
QLYS max drawdown62.99%
TENB max wkly drop26.04%
QLYS max wkly drop22.47%
10Y risk snapshot
TENB max drawdown74.40%
QLYS max drawdown62.99%
TENB max wkly drop27.32%
QLYS max wkly drop22.47%
Performance metrics by period
| Period | Metric | TENB | QLYS |
|---|---|---|---|
| 1Y | Growth | -17.95% | -18.88% |
| CAGR | -17.97% | -18.89% | |
| Sharpe ratio | -0.33 | -0.34 | |
| Max drawdown | 54.77% | 50.46% | |
| Max daily drop | 11.85% | 13.31% | |
| Max wkly drop | 22.17% | 19.15% | |
| 5Y | Growth | -38.65% | +5.05% |
| CAGR | -9.31% | +0.99% | |
| Sharpe ratio | -0.10 | 0.11 | |
| Max drawdown | 74.40% | 62.99% | |
| Max daily drop | 19.14% | 16.02% | |
| Max wkly drop | 26.04% | 22.47% | |
| 10Y | Growth | -11.17% | +258.69% |
| CAGR | -1.49% | +13.63% | |
| Sharpe ratio | 0.11 | 0.41 | |
| Max drawdown | 74.40% | 62.99% | |
| Max daily drop | 19.14% | 16.02% | |
| Max wkly drop | 27.32% | 22.47% |
Business comparison
| Category | TENB | QLYS |
|---|---|---|
| Company | Tenable Holdings, Inc. | Qualys, Inc. |
| Sector | Technology | Technology |
| Industry | N/A | N/A |
| Core business | Tenable is the global leader in vulnerability management (VM), providing Nessus (the world's most widely used vulnerability scanner), Tenable.io (cloud VM), and Tenable One (exposure management platform integrating VM, cloud, identity, and OT security). Its Exposure Management platform consolidates vulnerability visibility across IT, cloud, OT, and identity attack surfaces into a unified risk prioritization view. Tenable acquired Ermetic to expand into cloud infrastructure entitlement management (CIEM). | Qualys provides cloud-delivered vulnerability management, compliance, and security risk management for enterprise IT environments. Its agentless scanning architecture (via lightweight cloud agent) differentiates from appliance-based scanning by providing continuous assessment without network scan interruptions. Qualys TotalCloud and CNAPP capabilities extend VM into cloud workload protection. Qualys is significantly more profitable than Tenable, operating at above 35% non-GAAP operating margins. |
| Investor focus | Investors track recurring revenue growth (SaaS transition progress), Tenable One platform ARR, cloud and CIEM adoption, and operating margin improvement as the SaaS model scales. | Investors track recurring revenue growth, cloud security (TotalCloud/CNAPP) ARR, and operating margin sustainability above 35% as Qualys invests in cloud security expansion. |
TENB strengths
- →Nessus is the most widely deployed vulnerability scanner globally, creating deep market penetration in security teams of all sizes
- →Tenable One Exposure Management expands beyond VM into identity and cloud risk, addressing the converged attack surface
- →OT security capabilities serve manufacturing and critical infrastructure with few competitive alternatives for operational technology vulnerability assessment
QLYS strengths
- →Cloud-delivered, agentless scanning architecture provides continuous assessment without the network disruption of traditional scan windows
- →Best-in-class profitability (35%+ non-GAAP margins) driven by Qualys's cloud-delivered, highly scalable SaaS model
- →Strong enterprise compliance and regulatory reporting capabilities are deeply embedded in audit workflows at large regulated enterprises
Risks to watch — TENB
- →Qualys competes directly in VM SaaS with similar functionality and enterprise relationships
- →CrowdStrike and Microsoft Defender are adding VM capabilities that could reduce standalone VM vendor relevance for existing endpoint security customers
- →Revenue growth has been modest as the VM market matures — platform expansion is needed to drive re-acceleration
Risks to watch — QLYS
- →Tenable has a larger installed base and stronger OT security capabilities that Qualys does not match
- →Cloud security (CNAPP) market is highly competitive with Wiz, Palo Alto Prisma, and CrowdStrike all competing for cloud workload protection
- →Revenue growth has been slow — Qualys trades as a cash generative, slow-growth security company rather than a high-growth SaaS name
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