FTNT * Stock Overview

Provides cybersecurity and convergence of networking and security solutions worldwide. More details

FTNT * fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	3/6
Past Performance	6/6
Financial Health	5/6
Dividends	0/6

Rewards

Earnings are forecast to grow 10.01% per year

Earnings grew by 52% over the past year

Risk Analysis

Volatile share price over the past 3 months compared to the MX market

Fortinet, Inc. Competitors

Palo Alto Networks

NasdaqGS:PANW

US$116.6b

ServiceNow

NYSE:NOW

US$194.3b

Check Point Software Technologies

NasdaqGS:CHKP

US$22.6b

Gen Digital

NasdaqGS:GEN

US$15.4b

Price History & Performance

Summary of share price highs, lows and changes for Fortinet
Historical stock prices
Current Share Price	US$1,968.00
52 Week High	US$2,380.79
52 Week Low	US$975.85
Beta	1.1
1 Month Change	-3.53%
3 Month Change	-0.10%
1 Year Change	80.35%
3 Year Change	60.10%
5 Year Change	280.21%
Change since IPO	457.51%

Recent updates

Shareholder Returns

	FTNT *	MX Software	MX Market
7D	4.1%	0%	0%
1Y	80.4%	0%	0%

Return vs Industry: FTNT * exceeded the MX Software industry which returned 8.7% over the past year.

Return vs Market: FTNT * exceeded the MX Market which returned -3.9% over the past year.

Price Volatility

Is FTNT *'s price volatile compared to industry and market?
FTNT * volatility
FTNT * Average Weekly Movement	7.0%
Software Industry Average Movement	0%
Market Average Movement	0%
10% most volatile stocks in MX Market	0%
10% least volatile stocks in MX Market	0%

Stable Share Price: FTNT *'s share price has been volatile over the past 3 months compared to the MX market.

Volatility Over Time: FTNT *'s weekly volatility (7%) has been stable over the past year, but is still higher than 75% of MX stocks.

Community vs My Fair Value

Select a narrative for quick price alerts from the community, or create your own.

Fortinet

tioian

Community Contributor

Nwe world

The potential benefits and risks of investing in FTNT (NasdaqGS: FTNT), a company that specializes in cybersecurity. The writer suggests that the company could benefit from the new era of Regenerative Artificial Intelligence (RAI), which involves the extensive use of cloud-based data to improve AI technology.

View narrative

Mex$1.30k

51.4% overvalued

99.38%

Revenue growth p.a.

10 months ago

View Fortinet Community

About the Company

Founded	Employees	CEO	Website
2000	14,138	Ken Xie	www.fortinet.com

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers secure networking solutions that focus on the convergence of networking and security; network firewall solutions, which consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless local area network (LAN) solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless LAN access points, and FortiExtender 5G connectivity gateways. It also provides the Fortinet Unified Secure Access Service Edge (SASE) solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security.

Fortinet, Inc. Fundamentals Summary

How do Fortinet's earnings and revenue compare to its market cap?
FTNT * fundamental statistics
Market cap	Mex$1.53t
Earnings (TTM)	Mex$34.07b
Revenue (TTM)	Mex$116.28b

44.9x

P/E Ratio

13.1x

P/S Ratio

Is FTNT * overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FTNT * income statement (TTM)
Revenue	US$5.96b
Cost of Revenue	US$1.16b
Gross Profit	US$4.80b
Other Expenses	US$3.05b
Earnings	US$1.75b

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 07, 2025

Earnings per share (EPS)	2.27
Gross Margin	80.56%
Net Profit Margin	29.30%
Debt/Equity Ratio	66.6%

How did FTNT * perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/04/26 00:23
End of Day Share Price	2025/04/24 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Fortinet, Inc. is covered by 76 analysts. 43 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ellie Bagshaw	Arete Research Services LLP
Shrenik Kothari	Baird
Ishan Majumdar	Baptista Research

FTNT * Stock Overview

Rewards

Risk Analysis

Fortinet, Inc. Competitors

NasdaqGS:PANW

US$116.6b

NYSE:NOW

US$194.3b

NasdaqGS:CHKP

US$22.6b

NasdaqGS:GEN

US$15.4b

Price History & Performance

Recent News & Updates

Fortinet, Inc. to Report Q1, 2025 Results on May 07, 2025

New minor risk - Share price stability

Fortinet Expands Its OT Security Platform to Strengthen Protection for Critical Infrastructure

Fortinet Evolves Fortinet®? into a Turnkey AI-Driven SecOps Platform for Resource-Constrained Security Teams

Fortinet, Inc. Announces Chief Financial Officer Changes, Effective May 15, 2025

Fortinet Delivers Unmatched Security and Efficient Network Performance for the Distributed Enterprise with New Next-Gen Firewalls

Recent updates

Fortinet, Inc. to Report Q1, 2025 Results on May 07, 2025

New minor risk - Share price stability

Fortinet Expands Its OT Security Platform to Strengthen Protection for Critical Infrastructure

Fortinet Evolves Fortinet®? into a Turnkey AI-Driven SecOps Platform for Resource-Constrained Security Teams

Fortinet, Inc. Announces Chief Financial Officer Changes, Effective May 15, 2025

Fortinet Delivers Unmatched Security and Efficient Network Performance for the Distributed Enterprise with New Next-Gen Firewalls

Fortinet, Inc. Appoints Janet Napolitano to the Cybersecurity Committee of the Board

Fortinet, Inc. to Report Q4, 2024 Results on Feb 06, 2025

Fortinet, Inc. (NasdaqGS:FTNT) acquired Perception Point LTD.

New major risk - Share price stability

Fortinet Elevates Web Application Security and Performance with New Unified Platform

Third quarter 2024 earnings released: EPS: US$0.71 (vs US$0.41 in 3Q 2023)

Fortinet Expands Generative AI Capabilities Across Its Product Portfolio

Fortinet Delivers AI-Enhanced Data Protection and Insider Risk Management

Fortinet Expands Its Cloud-Native Security Offerings with the Introduction of Lacework FortiCNAPP

Airtel Business Partners with Fortinet, Launches 'Airtel Secure Internet' - A Next-Gen, Secure Connectivity Solution for Enterprises

Fortinet, Inc. to Report Q3, 2024 Results on Nov 07, 2024

Now 21% undervalued

Fortinet Announces the Addition of Sovereign SASE and Generative AI (GenAI) Capabilities to its Robust Unified SASE Solution

Now 25% undervalued

New major risk - Share price stability

Second quarter 2024 earnings released: EPS: US$0.50 (vs US$0.34 in 2Q 2023)

Fortinet, Inc. Provides Earnings Guidance for the Third Quarter and Full Fiscal Year 2024

Fortinet Announces Updates to its OT Security Platform

Now 25% undervalued after recent price drop

Now 20% undervalued after recent price drop

Fortinet, Inc. (NasdaqGS:FTNT) signed a definitive agreement to acquire Lacework, Inc.

Now 24% undervalued after recent price drop

First quarter 2024 earnings released: EPS: US$0.39 (vs US$0.32 in 1Q 2023)

Fortinet Unveils New FortiGate 200G Series to Deliver Cutting-Edge Performance and AI-Powered Security Services to the Modern Campus

Fortinet, Inc., Annual General Meeting, Jun 14, 2024

Fortinet, Inc. to Report Q1, 2024 Results on May 02, 2024

Fortinet, Inc. Announces the Latest Version of Its FortiOS Operating System and Other Major Enhancements to the Cybersecurity Platform, the Fortinet Security Fabric

Fortinet Appoints Maggie Wilderotter to the Board of Directors

Full year 2023 earnings released: EPS: US$1.47 (vs US$1.08 in FY 2022)

Fortinet, Inc. Provides Earnings Guidance for the First Quarter and Full Year of 2024

Fortinet, Inc. Converges 5G Dual Modem, AI-Powered Security, and Zero Trust to Securely Connect and Protect Operational Technology

John Whittle Joins Fortinet, Inc. as Chief Operating Officer

Fortinet Adds Fortinet Advisor, a Generative AI (GenAI) Assistant, to its Portfolio of More Than 40 AI-Powered Offerings

Fortinet, Inc. Announces Retirement of Patrice Perche as Chief Revenue Officer and Executive Vice President in Mid-2024

Now 20% undervalued after recent price drop

Now 28% undervalued after recent price drop

Third quarter 2023 earnings released: EPS: US$0.41 (vs US$0.29 in 3Q 2022)

Fortinet, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2023

Fortinet Announces the Expansion of Its Universal Sase Offering to Empower Today's Hybrid Workforce with Fortios Everywher

Now 21% undervalued after recent price drop

Now 20% undervalued after recent price drop

Fortinet Expands its SASE Solution to Bring Cloud-Delivered Enterprise-Grade Protection to Microbranches

Fortinet, Inc. Provides Earnings Guidance for the Third Quarter and Fiscal Year 2023

Second quarter 2023 earnings released: EPS: US$0.34 (vs US$0.22 in 2Q 2022)

Fortinet Expands Its Secure Networking Portfolio to Further Drive the Convergence of Networking and Security

New minor risk - Share price stability

Kyndryl Launches New Managed SASE Service with Fortinet

Fortinet, Inc. Provides Revenue Guidance for the Second Quarter and Fiscal Year 2023

First quarter 2023 earnings released: EPS: US$0.32 (vs US$0.17 in 1Q 2022)

Lead Independent Director recently bought Mex$519k worth of stock

Fortinet, Inc. Provides Revenue Guidance for the First Quarter and Full Year 2023

Full year 2022 earnings released: EPS: US$1.08 (vs US$0.74 in FY 2021)

Fortinet, Inc. Provides Revenue Guidance for the First Quarter and Full Year 2023