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Side-by-side financial comparison of ESCO TECHNOLOGIES INC (ESE) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
ESCO TECHNOLOGIES INC is the larger business by last-quarter revenue ($289.7M vs $173.1M, roughly 1.7× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 17.3%). ESCO TECHNOLOGIES INC produced more free cash flow last quarter ($63.0M vs $49.0M). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% CAGR vs 7.8%).
Esco is a Singaporean brand that develops, manufactures, and sells products and services for laboratories.
Varonis Systems, Inc. is a software company based in Miami, Florida with R&D offices in Herzliya, Israel. The company’s Data Security Platform analyzes data and data activity using the insights to identify data exposure risks stemming from access permissions and software-as-a-service (SaaS) app configurations, triggering automated remediation capabilities in response.
ESE vs VRNS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $289.7M | $173.1M |
| Net Profit | $28.7M | — |
| Gross Margin | 41.4% | 76.0% |
| Operating Margin | 13.2% | -1.7% |
| Net Margin | 9.9% | — |
| Revenue YoY | 17.3% | 26.9% |
| Net Profit YoY | 22.2% | — |
| EPS (diluted) | $1.11 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $173.1M | ||
| Q4 25 | $289.7M | $173.4M | ||
| Q3 25 | $286.5M | $161.6M | ||
| Q2 25 | $296.3M | $152.2M | ||
| Q1 25 | $265.5M | $136.4M | ||
| Q4 24 | $247.0M | $158.5M | ||
| Q3 24 | $298.5M | $148.1M | ||
| Q2 24 | $260.8M | $130.3M |
| Q1 26 | — | — | ||
| Q4 25 | $28.7M | $-27.8M | ||
| Q3 25 | $218.7M | $-29.9M | ||
| Q2 25 | $26.1M | $-35.8M | ||
| Q1 25 | $31.0M | $-35.8M | ||
| Q4 24 | $23.5M | $-13.0M | ||
| Q3 24 | $34.3M | $-18.3M | ||
| Q2 24 | $29.2M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 41.4% | 78.9% | ||
| Q3 25 | 45.9% | 78.2% | ||
| Q2 25 | 41.2% | 79.5% | ||
| Q1 25 | 41.1% | 78.7% | ||
| Q4 24 | 39.8% | 83.6% | ||
| Q3 24 | 40.1% | 83.8% | ||
| Q2 24 | 39.6% | 82.8% |
| Q1 26 | — | -1.7% | ||
| Q4 25 | 13.2% | -17.5% | ||
| Q3 25 | 17.2% | -22.2% | ||
| Q2 25 | 11.2% | -24.0% | ||
| Q1 25 | 15.3% | -32.1% | ||
| Q4 24 | 11.4% | -11.1% | ||
| Q3 24 | 14.8% | -16.0% | ||
| Q2 24 | 14.3% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 9.9% | -16.0% | ||
| Q3 25 | 76.3% | -18.5% | ||
| Q2 25 | 8.8% | -23.5% | ||
| Q1 25 | 11.7% | -26.2% | ||
| Q4 24 | 9.5% | -8.2% | ||
| Q3 24 | 11.5% | -12.4% | ||
| Q2 24 | 11.2% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $1.11 | $-0.23 | ||
| Q3 25 | $8.43 | $-0.26 | ||
| Q2 25 | $1.01 | $-0.32 | ||
| Q1 25 | $1.20 | $-0.32 | ||
| Q4 24 | $0.91 | $-0.12 | ||
| Q3 24 | $1.32 | $-0.16 | ||
| Q2 24 | $1.13 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $103.8M | $179.3M |
| Total DebtLower is stronger | $145.5M | — |
| Stockholders' EquityBook value | $1.6B | $453.5M |
| Total Assets | $2.4B | $1.6B |
| Debt / EquityLower = less leverage | 0.09× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $103.8M | $883.7M | ||
| Q3 25 | $101.3M | $671.3M | ||
| Q2 25 | $78.7M | $770.9M | ||
| Q1 25 | $57.4M | $567.6M | ||
| Q4 24 | $71.3M | $529.0M | ||
| Q3 24 | $66.0M | $844.8M | ||
| Q2 24 | $63.0M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $145.5M | — | ||
| Q3 25 | $186.0M | — | ||
| Q2 25 | $525.0M | — | ||
| Q1 25 | $88.0M | — | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $122.0M | — | ||
| Q2 24 | $173.0M | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $1.6B | $598.7M | ||
| Q3 25 | $1.5B | $604.8M | ||
| Q2 25 | $1.3B | $341.5M | ||
| Q1 25 | $1.3B | $367.7M | ||
| Q4 24 | $1.2B | $455.7M | ||
| Q3 24 | $1.2B | $428.6M | ||
| Q2 24 | $1.2B | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.4B | $1.8B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $1.8B | $1.6B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.8B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.09× | — | ||
| Q3 24 | 0.10× | — | ||
| Q2 24 | 0.14× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $68.9M | $55.0M |
| Free Cash FlowOCF − Capex | $63.0M | $49.0M |
| FCF MarginFCF / Revenue | 21.7% | 28.3% |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | 2.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.6M | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $68.9M | $24.7M | ||
| Q3 25 | $109.9M | $33.4M | ||
| Q2 25 | $73.7M | $21.3M | ||
| Q1 25 | $24.1M | $68.0M | ||
| Q4 24 | $34.2M | $24.3M | ||
| Q3 24 | $72.1M | $22.5M | ||
| Q2 24 | $36.2M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $63.0M | $20.7M | ||
| Q3 25 | $97.8M | $30.4M | ||
| Q2 25 | $64.9M | $18.0M | ||
| Q1 25 | $14.0M | $65.7M | ||
| Q4 24 | $29.0M | $19.9M | ||
| Q3 24 | $60.9M | $21.3M | ||
| Q2 24 | $27.6M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 21.7% | 12.0% | ||
| Q3 25 | 34.1% | 18.8% | ||
| Q2 25 | 21.9% | 11.8% | ||
| Q1 25 | 5.3% | 48.1% | ||
| Q4 24 | 11.7% | 12.6% | ||
| Q3 24 | 20.4% | 14.4% | ||
| Q2 24 | 10.6% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 2.3% | ||
| Q3 25 | 4.2% | 1.8% | ||
| Q2 25 | 3.0% | 2.2% | ||
| Q1 25 | 3.8% | 1.7% | ||
| Q4 24 | 2.1% | 2.7% | ||
| Q3 24 | 3.8% | 0.8% | ||
| Q2 24 | 3.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.40× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 2.83× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 1.46× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 1.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESE
| US Government | $98.0M | 34% |
| Utility Solutions Group | $87.5M | 30% |
| RF Shielding And Test | $58.3M | 20% |
| Commercial | $45.8M | 16% |
| Related Party | $1.3M | 0% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
