Varonis Systems (VRNS) FCF Margin (2013 - 2026)
Varonis Systems (VRNS) posted FCF Margin of 14.99% for Q2 2026, down 40.74% on a QoQ basis from 25.29% in Q1 2026, and up 318.0% year-over-year from 3.59% in Q2 2025.
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Varonis Systems (VRNS) FCF Margin (2013 - 2026) Analysis & Trends
Varonis Systems has reported FCF Margin for 14 years, with the latest figure at 14.99% in Q2 2026.
- On a quarterly basis, FCF Margin rose 318.0% year-over-year to 14.99% in Q2 2026; TTM through Jun 2026 was 17.72%, a 325.0% decrease from a year earlier, with the FY2025 full-year figure at 21.62%, up 192.0% from the prior year.
- FCF Margin was 14.99% for Q2 2026 at Varonis Systems, down from 25.29% in the prior quarter.
- The five-year high for FCF Margin was 49.49% in Q1 2024, with the low at 15.35% in Q2 2022.
- Average FCF Margin over 5 years is 14.82%, with a median of 12.27% recorded in 2024.
- The sharpest annual moves came in 2023 and 2026: FCF Margin surged 1909 bps in 2023, then slumped 2284 bps in 2026.
- Over 5 years, FCF Margin stood at 0.23% in 2022, then jumped by 2440 bps to 5.38% in 2023, then surged by 134 bps to 12.57% in 2024, then slipped by 5 bps to 11.96% in 2025, then climbed by 25 bps to 14.99% in 2026.
- The last three FCF Margin figures came in at 14.99% (Q2 2026), 25.29% (Q1 2026), and 11.96% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 269.46 Bn | 266.34 Bn | 2.03 Bn | 26.25% |
| 2 | CrowdStrike Holdings | 213.75 Bn | 208.74 Bn | 1.10 Bn | 27.59% |
| 3 | Fortinet | 115.33 Bn | 111.27 Bn | 1.64 Bn | 47.15% |
| 4 | Axon Enterprise | 40.70 Bn | 40.03 Bn | 546.45 Mn | -0.11% |
| 5 | Zscaler | 25.94 Bn | 22.46 Bn | - | - |
| 6 | F5 | 22.10 Bn | 20.50 Bn | 711.51 Mn | 32.44% |
| 7 | Rubrik | 18.86 Bn | 17.11 Bn | 335.12 Mn | 16.68% |
| 8 | Gen Digital | 17.83 Bn | 17.27 Bn | 1.03 Bn | 32.19% |
| 9 | Check Point Software Technologies | 14.27 Bn | 11.99 Bn | 574.10 Mn | 26.23% |
| 10 | Varonis Systems | 5.21 Bn | 4.55 Bn | 135.51 Mn | 14.99% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.99% |
| Mar 31, 2026 | 25.29% |
| Dec 31, 2025 | 11.96% |
| Sep 30, 2025 | 18.83% |
| Jun 30, 2025 | 11.81% |
| Mar 31, 2025 | 48.13% |
| Dec 31, 2024 | 12.57% |
| Sep 30, 2024 | 14.35% |
| Jun 30, 2024 | 8.37% |
| Mar 31, 2024 | 49.49% |
| Dec 31, 2023 | 5.38% |
| Sep 30, 2023 | 4.90% |
| Jun 30, 2023 | 3.74% |
| Mar 31, 2023 | 33.28% |
| Dec 31, 2022 | -0.23% |
| Sep 30, 2022 | -2.54% |
| Jun 30, 2022 | -15.35% |
| Mar 31, 2022 | 21.86% |
| Dec 31, 2021 | -4.77% |
| Sep 30, 2021 | -6.26% |