TENB vs. FTNT
TENB (Tenable Holdings, Inc.) and FTNT (Fortinet, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 5 years, TENB returned -5.28%/yr vs 24.36%/yr for FTNT. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
TENB vs. FTNT - Performance Comparison
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Returns By Period
In the year-to-date period, TENB achieves a 38.72% return, which is significantly lower than FTNT's 103.94% return.
TENB
- 1D
- 0.28%
- 1M
- -15.44%
- 6M
- 47.96%
- YTD
- 38.72%
- 1Y
- 6.77%
- 3Y*
- -12.78%
- 5Y*
- -5.28%
- 10Y*
- —
- ALL TIME*
- -0.14%
FTNT
- 1D
- 4.99%
- 1M
- 3.65%
- 6M
- 99.30%
- YTD
- 103.94%
- 1Y
- 66.34%
- 3Y*
- 27.56%
- 5Y*
- 24.36%
- 10Y*
- 37.30%
- ALL TIME*
- 31.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FTNT Fortinet, Inc. | $952.63M | $852.74M | $900.80M |
| $133.93M | $141.79M | $112.21M |
TENB vs. FTNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TENB Tenable Holdings, Inc. | 38.72% | -40.25% | -14.50% | 20.73% | -30.72% | 5.38% | 118.11% | 7.98% | -32.76% |
FTNT Fortinet, Inc. | 103.94% | -15.95% | 61.42% | 19.72% | -31.98% | 141.97% | 39.13% | 51.58% | 2.92% |
Correlation
The correlation between TENB and FTNT is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2018 | 0.56 |
The correlation between TENB and FTNT has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
Fundamentals
TENB:
$3.60B
FTNT:
$118.65B
TENB:
$0.06
FTNT:
$2.83
TENB:
572.34
FTNT:
57.32
TENB:
3.70
FTNT:
16.15
TENB:
19.04
FTNT:
77.40
TENB:
$1.04B
FTNT:
$7.53B
TENB:
$814.49M
FTNT:
$6.05B
TENB:
$84.08M
FTNT:
$2.70B
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Return for Risk
TENB vs. FTNT — Risk / Return Rank
TENB
FTNT
TENB vs. FTNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tenable Holdings, Inc. (TENB) and Fortinet, Inc. (FTNT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TENB | FTNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.29 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.55 | -2.46 |
| Martin ratioReturn relative to average drawdown | 0.18 | 4.11 | -3.93 |
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Drawdowns
TENB vs. FTNT - Drawdown Comparison
The maximum TENB drawdown since its inception was -74.40%, which is greater than FTNT's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for TENB and FTNT.
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Drawdown Indicators
| TENB | FTNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.40% | -51.20% | -23.20% |
Max Drawdown (1Y)Largest decline over 1 year | -48.52% | -24.52% | -24.00% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -35.07% | -34.02% |
Max Drawdown (5Y)Largest decline over 5 years | -74.40% | -38.32% | -36.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.32% | — |
Current DrawdownCurrent decline from peak | -47.91% | -2.93% | -44.98% |
Average DrawdownAverage peak-to-trough decline | -31.30% | -16.12% | -15.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.45% | 16.09% | +7.36% |
Volatility
TENB vs. FTNT - Volatility Comparison
Tenable Holdings, Inc. (TENB) has a higher volatility of 20.07% compared to Fortinet, Inc. (FTNT) at 11.57%. This indicates that TENB's price experiences larger fluctuations and is considered to be riskier than FTNT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TENB | FTNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.07% | 11.57% | +8.50% |
Volatility (6M)Calculated over the trailing 6-month period | 46.60% | 32.98% | +13.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.09% | 45.60% | +5.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.73% | 44.22% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.46% | 40.85% | +7.61% |
Dividends
TENB vs. FTNT - Dividend Comparison
Neither TENB nor FTNT has paid dividends to shareholders.
Financials
TENB vs. FTNT - Financials Comparison
This section allows you to compare key financial metrics between Tenable Holdings, Inc. and Fortinet, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
TENB vs. FTNT - Profitability Comparison
TENB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Tenable Holdings, Inc. reported a gross profit of 208.18M and revenue of 268.51M. Therefore, the gross margin over that period was 77.5%.
FTNT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported a gross profit of 1.64B and revenue of 2.05B. Therefore, the gross margin over that period was 80.2%.
TENB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Tenable Holdings, Inc. reported an operating income of 9.92M and revenue of 268.51M, resulting in an operating margin of 3.7%.
FTNT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported an operating income of 689.30M and revenue of 2.05B, resulting in an operating margin of 33.7%.
TENB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Tenable Holdings, Inc. reported a net income of 3.81M and revenue of 268.51M, resulting in a net margin of 1.4%.
FTNT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Fortinet, Inc. reported a net income of 606.30M and revenue of 2.05B, resulting in a net margin of 29.6%.
Frequently Asked Questions
TENB and FTNT have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TENB has higher volatility (20.07%) compared to FTNT (11.57%). In terms of maximum drawdown, TENB dropped -74.40% vs FTNT's -51.20%.
FTNT currently has the higher Sharpe Ratio (1.37 vs 0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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