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Tenable Holdings, Inc.（TENB）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
Zscaler, Inc.的季度营收约是Tenable Holdings, Inc.的3.0倍（$788.1M vs $260.5M），Tenable Holdings, Inc.净利率更高（-0.3% vs -1.5%，领先1.2%），Zscaler, Inc.同比增速更快（25.5% vs 10.5%），Zscaler, Inc.自由现金流更多（$431.0M vs $82.7M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% vs 9.8%）
Tenable Holdings, Inc.是总部位于美国马里兰州哥伦比亚市的网络安全企业，旗下1998年推出的漏洞扫描软件Nessus是全球网络安全行业应用最广泛的漏洞评估解决方案之一。截至2023年12月31日，公司拥有约4.4万家客户，其中包括65%的财富500强企业。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
TENB vs ZS — 直观对比
营收规模更大
ZS
是对方的3.0倍
$260.5M
营收增速更快
ZS
高出15.0%
10.5%
净利率更高
TENB
高出1.2%
-1.5%
自由现金流更多
ZS
多$348.3M
$82.7M
两年增速更快
ZS
近两年复合增速
9.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $260.5M | $788.1M |
| 净利润 | $-737.0K | $-11.6M |
| 毛利率 | 78.8% | 76.6% |
| 营业利润率 | 3.4% | -4.6% |
| 净利率 | -0.3% | -1.5% |
| 营收同比 | 10.5% | 25.5% |
| 净利润同比 | -139.5% | 3.6% |
| 每股收益（稀释后） | $-0.01 | $-0.07 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收TENBZS
| Q4 25 | $260.5M | $788.1M | ||
| Q3 25 | $252.4M | $719.2M | ||
| Q2 25 | $247.3M | $678.0M | ||
| Q1 25 | $239.1M | $647.9M | ||
| Q4 24 | $235.7M | $628.0M | ||
| Q3 24 | $227.1M | $592.9M | ||
| Q2 24 | $221.2M | $553.2M | ||
| Q1 24 | $216.0M | $525.0M |
净利润TENBZS
| Q4 25 | $-737.0K | $-11.6M | ||
| Q3 25 | $2.3M | $-17.6M | ||
| Q2 25 | $-14.7M | $-4.1M | ||
| Q1 25 | $-22.9M | $-7.7M | ||
| Q4 24 | $1.9M | $-12.1M | ||
| Q3 24 | $-9.2M | $-14.9M | ||
| Q2 24 | $-14.6M | $19.1M | ||
| Q1 24 | $-14.4M | $-28.5M |
毛利率TENBZS
| Q4 25 | 78.8% | 76.6% | ||
| Q3 25 | 77.5% | 76.1% | ||
| Q2 25 | 78.0% | 77.0% | ||
| Q1 25 | 78.1% | 77.1% | ||
| Q4 24 | 78.2% | 77.5% | ||
| Q3 24 | 77.8% | 78.0% | ||
| Q2 24 | 77.9% | 78.6% | ||
| Q1 24 | 77.3% | 77.7% |
营业利润率TENBZS
| Q4 25 | 3.4% | -4.6% | ||
| Q3 25 | 2.8% | -4.5% | ||
| Q2 25 | -3.0% | -3.7% | ||
| Q1 25 | -7.4% | -6.2% | ||
| Q4 24 | 5.5% | -4.9% | ||
| Q3 24 | -0.9% | -4.5% | ||
| Q2 24 | -4.0% | -0.5% | ||
| Q1 24 | -4.1% | -8.7% |
净利率TENBZS
| Q4 25 | -0.3% | -1.5% | ||
| Q3 25 | 0.9% | -2.4% | ||
| Q2 25 | -5.9% | -0.6% | ||
| Q1 25 | -9.6% | -1.2% | ||
| Q4 24 | 0.8% | -1.9% | ||
| Q3 24 | -4.1% | -2.5% | ||
| Q2 24 | -6.6% | 3.5% | ||
| Q1 24 | -6.7% | -5.4% |
每股收益（稀释后）TENBZS
| Q4 25 | $-0.01 | $-0.07 | ||
| Q3 25 | $0.02 | $-0.11 | ||
| Q2 25 | $-0.12 | $-0.03 | ||
| Q1 25 | $-0.19 | $-0.05 | ||
| Q4 24 | $0.01 | $-0.08 | ||
| Q3 24 | $-0.08 | $-0.09 | ||
| Q2 24 | $-0.12 | $0.12 | ||
| Q1 24 | $-0.12 | $-0.19 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $402.2M | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $326.4M | $2.0B |
| 总资产 | $1.7B | $6.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TENBZS
| Q4 25 | $402.2M | $1.3B | ||
| Q3 25 | $383.6M | $2.4B | ||
| Q2 25 | $386.5M | $2.0B | ||
| Q1 25 | $460.3M | $1.8B | ||
| Q4 24 | $577.2M | $1.6B | ||
| Q3 24 | $548.4M | $1.4B | ||
| Q2 24 | $487.0M | $1.3B | ||
| Q1 24 | $510.8M | $1.4B |
总债务TENBZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益TENBZS
| Q4 25 | $326.4M | $2.0B | ||
| Q3 25 | $344.4M | $1.8B | ||
| Q2 25 | $350.7M | $1.8B | ||
| Q1 25 | $383.2M | $1.6B | ||
| Q4 24 | $400.0M | $1.4B | ||
| Q3 24 | $404.6M | $1.3B | ||
| Q2 24 | $363.6M | $1.1B | ||
| Q1 24 | $358.9M | $958.9M |
总资产TENBZS
| Q4 25 | $1.7B | $6.5B | ||
| Q3 25 | $1.7B | $6.4B | ||
| Q2 25 | $1.7B | $5.3B | ||
| Q1 25 | $1.7B | $5.0B | ||
| Q4 24 | $1.7B | $4.7B | ||
| Q3 24 | $1.6B | $4.7B | ||
| Q2 24 | $1.6B | $4.2B | ||
| Q1 24 | $1.6B | $3.9B |
负债/权益比TENBZS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $83.0M | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $82.7M | $431.0M |
| 自由现金流率自由现金流/营收 | 31.7% | 54.7% |
| 资本支出强度资本支出/营收 | 0.1% | 2.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $254.6M | $924.9M |
8季度趋势，按日历期对齐
经营现金流TENBZS
| Q4 25 | $83.0M | $448.3M | ||
| Q3 25 | $53.9M | $250.6M | ||
| Q2 25 | $42.5M | $211.1M | ||
| Q1 25 | $87.4M | $179.4M | ||
| Q4 24 | $81.1M | $331.3M | ||
| Q3 24 | $54.6M | $203.6M | ||
| Q2 24 | $31.4M | $173.4M | ||
| Q1 24 | $50.3M | $142.1M |
自由现金流TENBZS
| Q4 25 | $82.7M | $431.0M | ||
| Q3 25 | $53.0M | $190.6M | ||
| Q2 25 | $38.1M | $138.9M | ||
| Q1 25 | $80.9M | $164.4M | ||
| Q4 24 | $78.8M | $314.3M | ||
| Q3 24 | $53.9M | $154.2M | ||
| Q2 24 | $30.9M | $137.8M | ||
| Q1 24 | $49.7M | $111.2M |
自由现金流率TENBZS
| Q4 25 | 31.7% | 54.7% | ||
| Q3 25 | 21.0% | 26.5% | ||
| Q2 25 | 15.4% | 20.5% | ||
| Q1 25 | 33.8% | 25.4% | ||
| Q4 24 | 33.4% | 50.1% | ||
| Q3 24 | 23.7% | 26.0% | ||
| Q2 24 | 14.0% | 24.9% | ||
| Q1 24 | 23.0% | 21.2% |
资本支出强度TENBZS
| Q4 25 | 0.1% | 2.2% | ||
| Q3 25 | 0.3% | 8.3% | ||
| Q2 25 | 1.8% | 10.6% | ||
| Q1 25 | 2.7% | 2.3% | ||
| Q4 24 | 1.0% | 2.7% | ||
| Q3 24 | 0.3% | 8.3% | ||
| Q2 24 | 0.2% | 6.4% | ||
| Q1 24 | 0.3% | 5.9% |
现金转化率TENBZS
| Q4 25 | — | — | ||
| Q3 25 | 23.83× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 43.43× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
TENB
| Subscription And Circulation | $238.9M | 92% |
| Other | $11.0M | 4% |
| License And Maintenance | $10.6M | 4% |
ZS
暂无分部数据
