Varonis Systems (BSP:V2RN34) Cyclically Adjusted PS Ratio: (As of Jul. 25, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:V2RN34 Varonis Systems Inc BSP:V2RN34
50 GF Score
Price R$38.83
GF Value R$45.59
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Varonis Systems Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Varonis Systems  (BSP:V2RN34) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


Varonis Systems Cyclically Adjusted PS Ratio Related Terms


Varonis Systems Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Varonis Systems's Cyclically Adjusted PS 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.

Varonis Systems Cyclically Adjusted PS Ratio Chart

Varonis Systems Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 7.91 13.21 11.69 7.77

Varonis Systems Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.29 12.54 13.82 7.77 4.88

BSP:V2RN34 vs RELY, ZETA, WEX: Cyclically Adjusted PS Ratio Comparison

For the Software - Infrastructure subindustry, Varonis Systems's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


Varonis Systems Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Varonis Systems's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Varonis Systems's Cyclically Adjusted PS Ratio falls into.


BSP:V2RN34
50GF Score
Varonis Systems Inc BSP:V2RN34
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Varonis Systems Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

Varonis Systems's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Varonis Systems's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=7.819/330.2130*330.2130
=7.819

Current CPI (Mar. 2026) = 330.2130.

Varonis Systems Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 1.678 241.018 2.299
201609 1.676 241.428 2.292
201612 2.334 241.432 3.192
201703 1.531 243.801 2.074
201706 1.987 244.955 2.679
201709 2.019 246.819 2.701
201712 2.864 246.524 3.836
201803 2.063 249.554 2.730
201806 2.703 251.989 3.542
201809 3.136 252.439 4.102
201812 3.840 251.233 5.047
201903 2.419 254.202 3.142
201906 2.530 256.143 3.262
201909 2.967 256.759 3.816
201912 3.252 256.974 4.179
202003 2.856 258.115 3.654
202006 3.655 257.797 4.682
202009 4.370 260.280 5.544
202012 5.138 260.474 6.514
202103 4.204 264.877 5.241
202106 4.179 271.696 5.079
202109 4.950 274.310 5.959
202112 6.662 278.802 7.890
202203 4.427 287.504 5.085
202206 5.129 296.311 5.716
202209 5.878 296.808 6.540
202212 6.850 296.797 7.621
202303 5.158 301.836 5.643
202306 5.105 305.109 5.525
202309 5.520 307.789 5.922
202312 6.927 306.746 7.457
202403 5.162 312.332 5.458
202406 6.275 314.175 6.595
202409 7.304 315.301 7.649
202412 8.597 315.605 8.995
202503 6.973 319.799 7.200
202506 7.531 322.561 7.710
202509 7.537 324.800 7.663
202512 8.023 324.054 8.175
202603 7.819 330.213 7.819

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

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.

Is Varonis Systems (BSP:V2RN34) Overvalued in 2026?

Based on GuruFocus' analysis, Varonis Systems stock appears to be undervalued. The current stock price of R$38.83 is trading 14.8% below its estimated GF Value™ of R$45.59. GuruFocus considers Varonis Systems to be Modestly Undervalued.

Key valuation signals for BSP:V2RN34:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: R$45.59 vs. price of R$38.83 (14.8% below fair value)
  • GF Score™: 50/100 with 3 warning signs

No single metric tells the full story. See the BSP:V2RN34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Varonis Systems Business Description

Address 801 Brickell Avenue, 8th Floor, Miami, FL, USA, 33131
Varonis Systems is a cybersecurity vendor focused on data privacy and security. The firm is currently undergoing a cloud transition as it weans its on-premises customers over to its cloud products that are delivered as software-as-a-service. The New York-based firm was founded in 2005 and went public in 2014.
50GF Score

Get the complete analysis for BSP:V2RN34

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$38.83
Price
R$45.59
GF Value