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Varonis Systems (DE:VS2)
FRANKFURT:VS2
Germany Market

Varonis Systems (VS2) Ratios

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Varonis Systems Ratios

DE:VS2's free cash flow for Q4 2025 was $0.79. For the 2025 fiscal year, DE:VS2's free cash flow was decreased by $ and operating cash flow was $-0.14. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
1.97 1.97 1.19 2.43 3.87
Quick Ratio
1.97 1.97 1.19 2.43 3.87
Cash Ratio
0.31 0.31 0.26 0.75 1.61
Solvency Ratio
-0.10 -0.10 -0.07 -0.15 -0.19
Operating Cash Flow Ratio
0.22 0.22 0.16 0.19 0.05
Short-Term Operating Cash Flow Coverage
0.00 0.00 0.46 5.91 1.20
Net Current Asset Value
$ 105.60M$ 105.60M$ -364.68M$ 131.20M$ 344.66M
Leverage Ratios
Debt-to-Assets Ratio
0.32 0.32 0.45 0.28 0.30
Debt-to-Equity Ratio
0.96 0.96 1.66 0.64 0.63
Debt-to-Capital Ratio
0.49 0.49 0.62 0.39 0.39
Long-Term Debt-to-Capital Ratio
0.46 0.46 0.50 0.34 0.33
Financial Leverage Ratio
2.99 2.99 3.65 2.25 2.08
Debt Service Coverage Ratio
0.00 -9.07 -0.29 -5.75 -5.58
Interest Coverage Ratio
0.00 -11.36 -12.87 -28.19 -16.10
Debt to Market Cap
0.18 0.12 0.14 0.05 0.10
Interest Debt Per Share
4.43 4.53 6.83 2.90 2.96
Net Debt to EBITDA
-3.55 -3.55 -8.95 -1.15 0.63
Profitability Margins
Gross Profit Margin
78.83%79.14%82.97%85.63%85.26%
EBIT Margin
-18.66%-18.65%-13.56%-16.48%-21.86%
EBITDA Margin
-16.68%-16.68%-11.54%-14.13%-17.32%
Operating Profit Margin
-23.16%-23.50%-19.39%-26.34%-24.79%
Pretax Profit Margin
-18.66%-18.65%-15.07%-17.41%-23.40%
Net Profit Margin
-20.74%-20.74%-17.38%-20.22%-26.29%
Continuous Operations Profit Margin
-20.74%-20.74%-17.38%-20.22%-26.29%
Net Income Per EBT
111.18%111.18%115.37%116.10%112.37%
EBT Per EBIT
80.55%79.39%77.71%66.11%94.38%
Return on Assets (ROA)
-7.22%-7.22%-5.75%-9.14%-11.93%
Return on Equity (ROE)
-27.04%-21.60%-21.02%-20.61%-24.80%
Return on Capital Employed (ROCE)
-12.75%-12.94%-11.19%-16.49%-14.41%
Return on Invested Capital (ROIC)
-12.75%-12.94%-8.79%-16.29%-14.23%
Return on Tangible Assets
-7.89%-7.89%-5.84%-9.35%-12.23%
Earnings Yield
-4.26%-3.05%-1.93%-2.04%-4.76%
Efficiency Ratios
Receivables Turnover
2.57 2.57 2.33 2.71 3.31
Payables Turnover
23.01 22.68 21.76 106.77 23.58
Inventory Turnover
0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
6.65 6.65 7.21 5.82 4.94
Asset Turnover
0.35 0.35 0.33 0.45 0.45
Working Capital Turnover Ratio
1.17 1.61 1.92 0.91 0.68
Cash Conversion Cycle
126.28 126.05 139.98 131.51 94.84
Days of Sales Outstanding
142.14 142.14 156.76 134.93 110.32
Days of Inventory Outstanding
0.00 0.00 0.00 0.00 0.00
Days of Payables Outstanding
15.86 16.09 16.77 3.42 15.48
Operating Cycle
142.14 142.14 156.76 134.93 110.32
Cash Flow Ratios
Operating Cash Flow Per Share
1.14 1.14 1.03 0.54 0.11
Free Cash Flow Per Share
1.04 1.04 0.97 0.50 <0.01
CapEx Per Share
0.10 0.10 0.06 0.05 0.10
Free Cash Flow to Operating Cash Flow
0.91 0.91 0.94 0.91 0.04
Dividend Paid and CapEx Coverage Ratio
11.67 11.67 17.21 11.65 1.04
Capital Expenditure Coverage Ratio
11.67 11.67 17.21 11.65 1.04
Operating Cash Flow Coverage Ratio
0.26 0.26 0.15 0.19 0.04
Operating Cash Flow to Sales Ratio
0.24 0.24 0.21 0.12 0.03
Free Cash Flow Yield
4.87%3.18%2.19%1.10%0.02%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
-23.46 -32.76 -51.80 -48.97 -21.01
Price-to-Sales (P/S) Ratio
4.44 6.79 9.00 9.90 5.52
Price-to-Book (P/B) Ratio
5.07 7.08 10.89 10.09 5.21
Price-to-Free Cash Flow (P/FCF) Ratio
20.54 31.43 45.72 90.98 5.51K
Price-to-Operating Cash Flow Ratio
20.58 28.74 43.07 83.18 220.39
Price-to-Earnings Growth (PEG) Ratio
2.18 -1.04 7.94 2.54 -7.77
Price-to-Fair Value
5.07 7.08 10.89 10.09 5.21
Enterprise Value Multiple
-30.18 -44.28 -86.98 -71.20 -31.26
Enterprise Value
3.14B 4.61B 5.53B 5.02B 2.56B
EV to EBITDA
-30.18 -44.28 -86.98 -71.20 -31.26
EV to Sales
5.03 7.39 10.04 10.06 5.42
EV to Free Cash Flow
23.28 34.17 50.96 92.48 5.40K
EV to Operating Cash Flow
21.29 31.24 48.00 84.54 216.06
Tangible Book Value Per Share
3.46 3.46 3.87 4.26 4.36
Shareholders’ Equity Per Share
4.63 4.63 4.08 4.49 4.59
Tax and Other Ratios
Effective Tax Rate
-0.11 -0.11 -0.15 -0.16 -0.12
Revenue Per Share
4.83 4.83 4.93 4.57 4.33
Net Income Per Share
-1.00 -1.00 -0.86 -0.92 -1.14
Tax Burden
1.11 1.11 1.15 1.16 1.12
Interest Burden
1.00 1.00 1.11 1.06 1.07
Research & Development to Revenue
0.38 0.38 0.36 0.37 0.38
SG&A to Revenue
0.04 0.16 0.00 0.00 0.00
Stock-Based Compensation to Revenue
0.16 0.21 0.23 0.00 0.00
Income Quality
-1.14 4.88 -1.20 -0.59 -0.10
Currency in USD