Methods, systems, and apparatus, including computer programs encoded on computer storage media, for asset risk analysis. One method includes receiving threat definition data for threats, vulnerability detection data for assets, and countermeasure detection data for assets. The method further includes determining a respective risk metric for each of the assets for each of the threats. This includes analyzing the vulnerability detection data for an asset to determine whether the asset is vulnerable to a threat, determining from the threat definition data and the countermeasure detection data whether the asset is protected by one of the countermeasures identified for the threat, and determining the risk metric for the asset for the threat according to whether the asset is vulnerable to the threat and whether the asset is protected by one of the countermeasures identified for the threat.