Fortinet Management
Management criteria checks 3/4
Fortinet's CEO is Ken Xie, appointed in Oct 2000, has a tenure of 24.17 years. total yearly compensation is $16.30M, comprised of 3.8% salary and 96.2% bonuses, including company stock and options. directly owns 8.35% of the company’s shares, worth $6.07B. The average tenure of the management team and the board of directors is 1.4 years and 4.7 years respectively.
Key information
Ken Xie
Chief executive officer
US$16.3m
Total compensation
| CEO salary percentage | 3.8% |
| CEO tenure | 24.2yrs |
| CEO ownership | 8.3% |
| Management average tenure | 1.4yrs |
| Board average tenure | 4.7yrs |
Recent management updates
Recent updates
Fortinet: Solid Growth But Overvalued After Recent Run
Dec 19Fortinet: Cybersecurity Could Be A Critical Theme In 2025 And I Am Still Bullish
Dec 13When Should You Buy Fortinet, Inc. (NASDAQ:FTNT)?
Dec 09
Is Fortinet (NASDAQ:FTNT) Using Too Much Debt?
Nov 25Results: Fortinet, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Nov 12Fortinet: The Good News Keeps Coming
Nov 12Is Fortinet, Inc. (NASDAQ:FTNT) Trading At A 36% Discount?
Nov 04Does Fortinet (NASDAQ:FTNT) Deserve A Spot On Your Watchlist?
Oct 21Fortinet: On The Road To Recovery (Rating Upgrade)
Oct 10Returns On Capital Are A Standout For Fortinet (NASDAQ:FTNT)
Sep 23Fortinet: A Strategic Investment Opportunity In The Cybersecurity Sector
Sep 15Fortinet: Margins On Steroids (Rating Upgrade)
Sep 09Market Participants Recognise Fortinet, Inc.'s (NASDAQ:FTNT) Earnings Pushing Shares 32% Higher
Aug 27Is Fortinet (NASDAQ:FTNT) A Risky Investment?
Aug 22At US$68.68, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
Aug 09Fortinet Earnings: Solid As A Firewall, 20x Operating Profits (Rating Upgrade)
Aug 07Fortinet Q2 Preview: Billings Slowdown Overshadows SASE Progress (Ratings Downgrade)
Aug 01Fortinet, Inc. (NASDAQ:FTNT) Shares Could Be 41% Below Their Intrinsic Value Estimate
Jul 26Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?
Jul 11Fortinet Could Be One Of The Most Undervalued Cybersecurity Plays
Jul 09Fortinet: Nearing The Trough
Jun 28Fortinet, Inc.'s (NASDAQ:FTNT) Business Is Trailing The Market But Its Shares Aren't
Jun 09Fortinet: Slow Growth Continues To Impact
Jun 06Fortinet: Growth And Cash Flow Headwinds
May 31Earnings Beat: Fortinet, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
May 09Fortinet: Market Overreaction Seems Unwarranted
May 08Why The 35% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention
Apr 29Fortinet Q1 Earnings Preview: It's All About SASE
Apr 26Are Investors Undervaluing Fortinet, Inc. (NASDAQ:FTNT) By 32%?
Apr 13Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?
Mar 28Fortinet: Soft Demand Creating Elevated Stock Risk
Mar 25Fortinet: Adapting To New Dynamics Of Cybersecurity Industry
Mar 12At US$66.96, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
Feb 23Fortinet: Excellent Business To Surf The Secular Trend, But Valuations Remain Enriched
Feb 13Fortinet, Inc. (NASDAQ:FTNT) Just Reported And Analysts Have Been Lifting Their Price Targets
Feb 08Fortinet: Don't Wait Until This Cybersecurity Leader Regains Its All-Time Highs
Feb 03There's Reason For Concern Over Fortinet, Inc.'s (NASDAQ:FTNT) Price
Jan 21Fortinet, Inc.'s (NASDAQ:FTNT) Intrinsic Value Is Potentially 34% Above Its Share Price
Jan 08The Trend Of High Returns At Fortinet (NASDAQ:FTNT) Has Us Very Interested
Dec 25CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$2b |
| Jun 30 2024 | n/a | n/a | US$1b |
| Mar 31 2024 | n/a | n/a | US$1b |
| Dec 31 2023 | US$16m | US$622k | US$1b |
| Sep 30 2023 | n/a | n/a | US$1b |
| Jun 30 2023 | n/a | n/a | US$1b |
| Mar 31 2023 | n/a | n/a | US$967m |
| Dec 31 2022 | US$14m | US$797k | US$857m |
| Sep 30 2022 | n/a | n/a | US$743m |
| Jun 30 2022 | n/a | n/a | US$674m |
| Mar 31 2022 | n/a | n/a | US$638m |
| Dec 31 2021 | US$14m | US$797k | US$607m |
| Sep 30 2021 | n/a | n/a | US$555m |
| Jun 30 2021 | n/a | n/a | US$515m |
| Mar 31 2021 | n/a | n/a | US$491m |
| Dec 31 2020 | US$11m | US$793k | US$489m |
| Sep 30 2020 | n/a | n/a | US$460m |
| Jun 30 2020 | n/a | n/a | US$417m |
| Mar 31 2020 | n/a | n/a | US$378m |
| Dec 31 2019 | US$10m | US$750k | US$332m |
| Sep 30 2019 | n/a | n/a | US$396m |
| Jun 30 2019 | n/a | n/a | US$375m |
| Mar 31 2019 | n/a | n/a | US$349m |
| Dec 31 2018 | US$7m | US$625k | US$335m |
| Sep 30 2018 | n/a | n/a | US$121m |
| Jun 30 2018 | n/a | n/a | US$89m |
| Mar 31 2018 | n/a | n/a | US$62m |
| Dec 31 2017 | US$4m | US$451k | US$31m |
Compensation vs Market: Ken's total compensation ($USD16.30M) is about average for companies of similar size in the US market ($USD12.88M).
Compensation vs Earnings: Ken's compensation has been consistent with company performance over the past year.
CEO
Ken Xie (61 yo)
24.2yrs
Tenure
US$16,301,613
Compensation
Mr. Ken Xie has been Founder, Chief Executive Officer and Director at Fortinet, Inc. since October 2000. Mr. Xie serves as an Advisor at WI Harper Group. He serves as an Advisor at ForgePoint Capital Manag...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 24.2yrs | US$16.30m | 8.35% $ 6.1b | |
| Founder | 24.2yrs | US$7.37m | 7.41% $ 5.4b | |
| Chief Financial Officer | 6.8yrs | US$7.05m | 0.00061% $ 443.5k | |
| COO & Corporate Secretary | 17.9yrs | US$4.66m | 0.0066% $ 4.8m | |
| Chief Accounting Officer & Principal Accounting Officer | less than a year | no data | 0.00034% $ 247.2k | |
| Executive Vice President of Sales | less than a year | no data | no data | |
| Vice President of Talent Acquisition | 4.9yrs | no data | no data | |
| Executive Vice President of America Sales | less than a year | no data | no data | |
| Executive Vice President of Technology & Product Management | 1.9yrs | no data | no data | |
| Executive Vice President of International Sales | less than a year | no data | no data | |
| Chief Information Security Officer | less than a year | no data | no data | |
| Executive Vice President of Marketing | less than a year | no data | no data |
1.4yrs
Average Tenure
56yo
Average Age
Experienced Management: FTNT's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 24.2yrs | US$16.30m | 8.35% $ 6.1b | |
| Founder | 23.8yrs | US$7.37m | 7.41% $ 5.4b | |
| Independent Director | 4.2yrs | US$277.94k | 0.0055% $ 4.0m | |
| Independent Director | 11.9yrs | US$294.86k | 0.039% $ 28.3m | |
| Independent Director | 11.7yrs | US$271.69k | 0.0074% $ 5.4m | |
| Chairperson of Public Sector Advisory Council | 2.5yrs | US$331.61k | no data | |
| Lead Independent Director | 9.5yrs | US$277.36k | 0.016% $ 11.7m | |
| Member of Public Sector Advisory Council | 2.5yrs | no data | no data | |
| Independent Director | 5.2yrs | US$270.77k | 0.0043% $ 3.1m | |
| Independent Director | 3.2yrs | US$264.52k | 0.0015% $ 1.1m | |
| Member of Public Sector Advisory Council | 2.5yrs | no data | no data | |
| Member of Public Sector Advisory Council | 2.5yrs | no data | no data |
4.7yrs
Average Tenure
68yo
Average Age
Experienced Board: FTNT's board of directors are considered experienced (4.7 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/20 06:13 |
| End of Day Share Price | 2024/12/20 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
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 |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* 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 here.
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 .
Analyst Sources
Fortinet, Inc. is covered by 85 analysts. 41 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 |
|---|---|
| Shrenik Kothari | Baird |
| Ishan Majumdar | Baptista Research |
| Saket Kalia | Barclays |