Flagship explainer

What drives VARONIS SYSTEMS, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity−25%Tax burden111%net income ÷ pretax incomeInterest burden79%pretax ÷ operating incomeOperating margin−23%operating income ÷ revenueAsset turnover0.36×revenue ÷ average assetsEquity multiplier3.28×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$129MFY2025
Income before tax−$116MFY2025
Operating income−$147MFY2025
$624MFY2025
Ending assets$1.8BFY2025
Beginning assets$1.7BFY2024
$599MFY2025
$456MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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