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Tenable HoldingsFRA:TE7 -4.36%75 Cyclically Adjusted PB Ratio is 41.65 as of Aug. 17, 2026, which is 80% above its 10-year median of 23.08. GuruFocus rates FRA:TE7 with a GF Score™ of 75/100 and a GF Value™ of €40.40 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,548 Software companies, Tenable Holdings ranks worse than 98.26% on this metric.
The historical rank and industry rank for Tenable Holdings's Cyclically Adjusted PB Ratio or its related term are showing as below:
FRA:TE7'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 17.98 Med: 23.08 Max: 41.83
Current: 41.83
During the past 10 years, Tenable Holdings's highest Cyclically Adjusted PB Ratio was 41.83. The lowest was 17.98. And the median was 23.08.
FRA:TE7's Cyclically Adjusted PB Ratio is ranked worse than 98.26% of 1548
companies
in the Software industry
Industry Median: 2.34
vs FRA:TE7: 41.83
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Tenable Holdings's adjusted book value per share data of for the fiscal year that ended in Dec25 was €2.353. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €0.79 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Tenable Holdings (FRA:TE7) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Tenable Holdings Cyclically Adjusted PB Ratio Related Terms
Tenable Holdings Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Tenable Holdings's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Tenable Holdings Cyclically Adjusted PB Ratio Chart
FRA:TE7 vs CLBT, PAY, BLSH: Cyclically Adjusted PB Ratio Comparison
For the Software - Infrastructure subindustry, Tenable Holdings's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tenable Holdings Cyclically Adjusted PB Ratio vs Software Industry
For the Software industry and Technology sector, Tenable Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Tenable Holdings's Cyclically Adjusted PB Ratio falls into.
Tenable Holdings Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
Tenable Holdings's Cyclically Adjusted PB Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 41.65 mean?
Tenable Holdings (FRA:TE7) has a Cyclically Adjusted PB Ratio of 41.65 as of Aug. 17, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Tenable Holdings and its competitors. This is 80% above median its historical median of 23.08. Over the past decade, Tenable Holdings' Cyclically Adjusted PB Ratio has ranged from 17.98 to 41.83. According to the industry distribution chart, Tenable Holdings ranks #1521 out of 1548 companies in the Software industry, placing it in the top 98.3%.
Is Tenable Holdings' Cyclically Adjusted PB Ratio too high?
Tenable Holdings' current Cyclically Adjusted PB Ratio of 41.65 is 80% above median its 10-year median of 23.08. Over the past 10 years, this metric has ranged from a low of 17.98 to a high of 41.83. The Software industry median Cyclically Adjusted PB Ratio is 2.34. Tenable Holdings' value of 41.65 is 1679.9% above this industry median. Based on the distribution chart, Tenable Holdings ranks #1521 out of 1548 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Tenable Holdings has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tenable Holdings' Cyclically Adjusted PB Ratio compare to CLBT and PAY?
According to the Software industry distribution chart, Tenable Holdings ranks #1521 out of 1548 companies for Cyclically Adjusted PB Ratio. This places Tenable Holdings in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.34. Tenable Holdings' value of 41.65 is 1679.9% above this benchmark. Historically, Tenable Holdings' own Cyclically Adjusted PB Ratio has ranged from 17.98 to 41.83 over the past decade. While the company's 10-year median is 23.08 vs. the industry median of 2.34, Tenable Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.34, based on 1,548 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenable Holdings's current Cyclically Adjusted PB Ratio of 41.65 is 1679.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Tenable Holdings and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenable Holdings's current Cyclically Adjusted PB Ratio is 41.65, which is 80% above median its own 10-year median of 23.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tenable Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tenable Holdings (FRA:TE7) is currently considered Modestly Undervalued. The stock's GF Value™ is €40.40, compared to a current price of €32.90 — trading 18.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 41.65, which is 80% above median its 10-year median of 23.08 and 1679.9% above the Software industry median of 2.34. Tenable Holdings' overall GF Score™ is 75/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Tenable Holdings (FRA:TE7), the current Cyclically Adjusted PB Ratio is 41.65 as of Aug. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tenable Holdings (FRA:TE7) Overvalued in 2026?
Based on GuruFocus' analysis, Tenable Holdings stock appears to be undervalued.
The current stock price of €32.90 is trading 18.6% below its estimated GF Value™ of €40.40.
GuruFocus considers Tenable Holdings to be Modestly Undervalued.
Key valuation signals for FRA:TE7:
Cyclically Adjusted PB Ratio: 41.65 (80% above median its 10-year median of 23.08)
GF Value™: €40.40 vs. price of €32.90 (18.6% below fair value)
Industry Position: 1679.9% above the Software median (#1521 of 1548)
No single metric tells the full story. See the FRA:TE7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 2002, Tenable is a cybersecurity company that began providing vulnerability management solutions under its Nessus software. In recent years, Tenable has expanded its portfolio to provide a broader range of exposure management modules. Solutions include cloud security and compliance, active directory management, operational technology security and advanced vulnerability analytics. The Maryland-based company went public in 2018.
75GF Score
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