Fortinet Inc. (FTNT)

NASDAQ: FTNT · USD

$160

-4.02 (-2.5%)· Recorded snapshot

Coverage state: Latest published research available

Market snapshot recorded 2026-08-07 02:00 UTC. Latest published research analyzed 2026-05-09 · historical · sources unverified. Prices and fundamentals on this server-rendered page are dated snapshots, not a real-time trading feed.

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StockMarketAgent Research · Analyzed 2026-05-09

Our latest published analysis: FTNT rated Sell

FTNT is rated Sell at $114.07 versus the reconciled fair value midpoint of $63.99, implying -43.90% upside/downside. Confidence is separately disclosed at 68/100.

Fair value (mid)

$64.0 / share

$48.0 – $79.5

Upside to FV

-43.9%

from $160

Confidence

68/100

Moat

6.5/10

Market cap	$83.5B
Revenue (ttm)	7.5B
Net income (ttm)	2.1B
EPS (ttm)	$2.83
Shares out	733.7M
P/E (trailing)	56.6x
P/E (forward)	33.4x
Volume	4,996,309
Beta	1.06
Price target	$161	+0.5%

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 7.5B
Net income (ttm): 2.1B
EPS (ttm): $2.83
P/E (trailing): 56.6x
P/E (forward): 33.4x
Market cap: $83.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$3.34B	$4.42B	$5.30B	$5.96B	$6.80B	+19.4%
Gross profit	$2.56B	$3.33B	$4.07B	$4.80B	$5.47B	+20.9%
Operating income	$650.4M	$969.6M	$1.24B	$1.80B	$2.08B	+33.8%
Net income	$606.8M	$857.3M	$1.15B	$1.75B	$1.85B	+32.2%
EPS (diluted)	—	$1.06	$1.46	$2.26	$2.42	+22.9%
EBITDA	$727.7M	$1.08B	$1.47B	$2.20B	$2.45B	+35.5%
R&D	$424.2M	$512.4M	$613.8M	$716.8M	$815.5M	+17.8%
SG&A	$1.49B	$1.86B	$2.22B	$2.28B	$2.58B	+14.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ASML	ASML Holding N.V.	661.2B	54.5x	16.4x	66.0%	+16.3%	+148.5%	Buy
LITE	Lumentum Holdings Inc.	65.2B	159.3x	26.2x	8.3%	+7.7%	+674.9%	Reduce
META	Meta Platforms Inc.	1.5T	22.2x	6.6x	25.4%	+16.8%	-22.5%	Strong Buy
AAPL	Apple Inc.	4.6T	35.8x	9.8x	101.6%	+6.1%	+54.6%	Sell
ACN	Accenture plc	104.7B	13.7x	1.4x	27.1%	+8.8%	-28.4%	Buy
ADBE	Adobe Inc.	103.4B	14.9x	4.1x	60.7%	+11.9%	-23.2%	Strong Buy

All FTNT indicators

Market & fundamental data

Available fields

279

Groups with data

Currency

USD

Showing 279 of 279 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Cik	0001262039
Company name	Fortinet, Inc.
Country	United States
Country code	US
Cusip	34959E109
Employees	15,109
Employees Change	971%
Employees Change Percent	6.87
Enterprise value	$114B
Exchange	NASDAQ
Financial currency	USD
First seen	2026-05-09
In Index	SP500, NASDAQ100
Industry	Software - Infrastructure
Industry PE	36.59
Industry PE Fwd	27.84
IPO Date	2009-11-18
Isin	US34959E1091
Last refreshed	2026-08-07
Market cap	$117.5B
Market cap category	Large-Cap
Price	$160
Price currency	USD
Rev Per Employee	498,206.37x
Sector	Technology
Sector PE	35.91
Sector PE Fwd	20.45
Sic	3577
Symbol	FTNT
Website	https://www.fortinet.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings Yield	1.81%
EV Earnings	53.74x
EV Sales Forward	13.38x
EV/EBIT	46.67x
EV/EBITDA	38.39x
EV/FCF	36.56x
EV/Sales	15.14x
FCF yield	2.65%
Forward P/E	45.69x
P/B ratio	75.72x
P/E ratio	56.58x
P/S ratio	15.61x
PE Ratio10 Y	102.42x
PE Ratio3 Y	39.11x
PE Ratio5 Y	50.62x
PEG ratio	2.97x
PS Forward	13.79x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT Margin	32.44%
EBITDA Margin	39.44%
FCF margin	41.41%
Gross margin	80.2%
Gross Profit	$6B
Gross Profit Growth	17.18%
Gross Profit Growth Q	24.95%
Gross Profit Growth3 Y	16.65%
Gross Profit Growth5 Y	21.71%
Net Income	$2.1B
Net Income Growth	9.34%
Net Income Growth Q	37.76%
Net Income Growth Quarters	2%
Net Income Growth Years	6%
Net Income Growth3 Y	26.03%
Net Income Growth5 Y	32.73%
Pretax Margin	34.85%
Profit Margin	28.17%
Profit Per Employee	$140,360
Profitable Quarters	$34
Profitable Years	18
ROA	14.17
Roa5y	11.11
ROCE	40.58
ROE	117.4
ROIC	57.89

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
Cagr10y	37.37%
Cagr15y	28.05%
Cagr1y	66.48%
Cagr3y	41.28%
Cagr5y	21.69%
EPS Growth	12.81
EPS Growth Q	43.86
EPS Growth Quarters	2
EPS Growth Years	6
EPS Growth3 Y	28.5
EPS Growth5 Y	35.71
FCF Growth	53.34%
FCF Growth Q	239.88%
FCF Growth3 Y	16.37%
FCF Growth5 Y	22.97%
OCF Growth	41.45%
OCF Growth Q	130.94%
OCF Growth10 Y	27.37%
OCF Growth3 Y	15.51%
OCF Growth5 Y	22.1%
Revenue Growth	18.77x
Revenue Growth Q	25.64x
Revenue Growth Quarters	67x
Revenue Growth Years	19x
Revenue Growth3 Y	14.71x
Revenue Growth5 Y	20.93x

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Asset Turnover	$0.7
Assets	$10.9B
Cash	$4.1B
Current Assets	$6.2B
Current Liabilities	$4.8B
Debt	$561.4M
Debt EBITDA	$0.19
Debt Equity	$0.36
Debt FCF	$0.18
Equity	$1.6B
Interest Coverage	135.7
Liabilities	$9.3B
Long Term Assets	$4.7B
Long Term Liabilities	$4.5B
Net Cash	$3.5B
Net Cash By Market Cap	$2.99
Net Cash Growth	0.98%
Net Debt EBITDA	$-1.18
Net Debt Equity	$-2.26
Net Debt FCF	$-1.13
Tangible Book Value	$1.2B
Tangible Book Value Per Share	$1.66
WACC	10.05

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Current ratio	1.28
Inventory Turnover	3.58
Net Working Capital	$-2.7B
Quick ratio	1.14
Working Capital	$1.4B
Working Capital Turnover	$5.13

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback Yield	3.4%
Dividend Yield	0%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y total return	2,292.56%
1Y total return	66.42%
200-day SMA	102.2
3Y total return	182.03%
50-day SMA	152.2
50-day SMA vs 200-day SMA	50over200
5Y total return	166.83%
All Time High	172.1
All Time High Change	-6.96%
All Time High Date	2026-08-05
All Time Low	1.47
All Time Low Change	10,777.04%
All Time Low Date	2010-07-13
ATR	7.11
Beta	1.06
Beta1y	0.63
Beta2y	1.2
Ch YTD	101.6
High	162.7
High52	172.1
High52 Date	2026-08-05
High52ch	-6.96%
Low	158.3
Low52	70.12
Low52 Date	2025-08-07
Low52ch	128.34%
Ma50ch	5.17%
Premarket Change Percent	-2.15
Premarket Price	$161
Premarket Volume	20,290
Price vs 200-day SMA	56.73%
RSI	54.4
RSI Monthly	77.28
RSI Weekly	77.32
Sharpe ratio	1.26x
Sortino ratio	1.96
Total Return	3.4%
Tr YTD	101.6
Tr15y	3,980.28%
Tr1m	2.47%
Tr1w	3.8%
Tr3m	78.06%

Analyst estimates

Ratings, targets, revisions, and forward estimate fields.

Metric	Value
Analyst Count	44
Analyst Count Top	31
Analyst Price Target Top	$162
Analyst Ratings	Hold
Analyst Ratings Top	Hold
Earnings EPS Estimate	$0.73
Earnings EPS Estimate Growth	14.06
Earnings Revenue Estimate	1,884,908,632x
Earnings Revenue Estimate Growth	15.64x
Operating Income	$2.4B
Operating Income Growth	25.16
Operating Income Growth Q	50.65
Operating Income Growth3 Y	27.66
Operating Income Growth5 Y	34.15
Operating margin	32.37
Price target	$161
Price Target Change	$0.47
Price Target Change Top	$1.44

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	618,713,176%
Float Percent	84.33%
Net Borrowing	-500,000,000
Shares Insiders	15.56%
Shares Institutions	71.19%
Shares Out	733,713,653
Shares Qo Q	-0.39%
Shares Yo Y	-3.4%
Short Float	2.34%
Short Ratio	2.36
Short Shares	1.98

Other indicators

Additional ticker metrics that do not fit the primary research groupings yet.

Metric	Value
Adjusted FCF	$2.8B
Adjusted OCF	3,100,000,000
Average Volume	5,535,925.05x
Bv Per Share	2.11
CAPEX	$-279.1M
Ch10y	2,292.6
Ch15y	3,980.3
Ch1m	2.47
Ch1w	3.8
Ch1y	66.42
Ch3m	78.06
Ch3y	182
Ch5y	166.8
Ch6m	102.9
Change	-2.45%
Change From Open	0.02
Close	164.1
Days Gap	-2.47
Depreciation Amortization	159,100,000
Dollar Volume	799,959,034
Earnings Date	2026-07-29
Earnings Time	amc
EBIT	$2.4B
EBITDA	$3B
EPS	$2.83
F Score	5
FCF	$3.1B
FCF EV Yield	2.74x
FCF Per Share	$4.25
Financing CF	-3,415,400,000
Fiscal Year End	December
Founded	2,000
Goodwill	257,400,000
Graham Number	11.6031
Graham Upside	-92.75
Income Tax	$502.5M
Investing CF	-412,400,000
Is Primary Listing	1
Is Spac	No
Last Earnings Date	2026-07-29
Last Report Date	2026-06-30
Last Split Date	2022-06-23
Last Split Type	Forward
Last10k Filing Date	2026-02-25
Lynch Fair Value	$70.75
Lynch Upside	-55.81
Ma150	108.7
Ma150ch	47.3%
Ma20	158.8
Ma20ch	0.8%
Net CF	-433,600,000
Next Earnings Date	2026-11-04
Open	160.1
Optionable	Yes
P FCF Ratio	37.69
P FCF Ratio SBC	41.64
P OCF Ratio	34.59
P OCF Ratio SBC	37.9
Position In Range	41.26
Post Close	160.1
Postmarket Change Percent	1.02
Postmarket Price	$162
Ppne	1,699,500,000
Pre Close	164.1
Price Date	2026-08-06
Price EBITDA	$39.57
Ptbv Ratio	96.56
Relative Volume	0.9x
Revenue	7,527,400,000x
SBC By Revenue	3.93x
Share Based Comp	296,100,000
Tax By Revenue	6.68x
Tax Rate	19.16%
Tr6m	102.85%
Us State	California
Views	259
Volume	4,996,309
Z Score	5.98

Frequently asked questions

About this FTNT report

What is the latest published FTNT stock rating?

Fortinet Inc. is shown with sell in the latest published report, analyzed 2026-05-09. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full FTNT analysis?

The full latest published report, analyzed 2026-05-09, lives at /stocks/FTNT/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair-value range is used for FTNT?

The latest published report analyzed 2026-05-09 frames FTNT around USD 48 to USD 80. This is a dated valuation range, not a live market price; check the valuation, sensitivity, and bear-case tabs before making a decision.

How often is the FTNT page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-05-09). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Fortinet Inc. (FTNT)

Coverage state: Latest published research available

Generate a fresh FTNT analysis

Our latest published analysis: FTNT rated Sell

Price

Financial snapshot

Fair-value bridge

Analyst consensus

Latest news · FTNT

Valuation

Profitability

Balance sheet

Trading

Position sizing & entry playbook

Next earnings

Sector percentile context

All FTNT indicators

Profile and market data

Valuation

Profitability

Growth

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Analyst estimates

Ownership and float

Other indicators

Deeper analysis on FTNT

Frequently asked questions