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Fortinet NasdaqGS:FTNT Stock Report

Last Price

US$89.44

Market Cap

US$68.8b

7D

-7.4%

1Y

26.1%

Updated

04 Apr, 2025

Data

Company Financials +

Fortinet, Inc.

NasdaqGS:FTNT Stock Report

Market Cap: US$68.8b

FTNT Stock Overview

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

FTNT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance6/6
Financial Health5/6
Dividends0/6

Rewards

Trading at 2.2% below our estimate of its fair value

Earnings are forecast to grow 10.06% per year

Earnings grew by 52% over the past year

Analysts in good agreement that stock price will rise by 28.1%

Risk Analysis

No risks detected for FTNT from our risk checks.

Fortinet, Inc. Competitors

Palo Alto Networks

NasdaqGS:PANW

US$114.7b

ServiceNow

NYSE:NOW

US$169.8b

Check Point Software Technologies

NasdaqGS:CHKP

US$24.7b

Gen Digital

NasdaqGS:GEN

US$16.6b

Price History & Performance

Summary of share price highs, lows and changes for Fortinet
Historical stock prices
Current Share PriceUS$89.44
52 Week HighUS$114.82
52 Week LowUS$54.57
Beta1.1
1 Month Change-16.25%
3 Month Change-8.24%
1 Year Change26.13%
3 Year Change33.16%
5 Year Change338.73%
Change since IPO5,281.47%

Recent News & Updates

Is Fortinet, Inc. (NASDAQ:FTNT) Potentially Undervalued?

Mar 26
Is Fortinet, Inc. (NASDAQ:FTNT) Potentially Undervalued?

Fortinet (NASDAQ:FTNT) Could Easily Take On More Debt

Mar 03
Fortinet (NASDAQ:FTNT) Could Easily Take On More Debt

Fortinet: Capitalizing On Hardware Firewall Upgrades For Future Growth

Feb 26

Recent updates

Is Fortinet, Inc. (NASDAQ:FTNT) Potentially Undervalued?

Mar 26
Is Fortinet, Inc. (NASDAQ:FTNT) Potentially Undervalued?

Fortinet (NASDAQ:FTNT) Could Easily Take On More Debt

Mar 03
Fortinet (NASDAQ:FTNT) Could Easily Take On More Debt

Fortinet: Capitalizing On Hardware Firewall Upgrades For Future Growth

Feb 26

Why The 32% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention

Feb 17
Why The 32% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention

If EPS Growth Is Important To You, Fortinet (NASDAQ:FTNT) Presents An Opportunity

Feb 03
If EPS Growth Is Important To You, Fortinet (NASDAQ:FTNT) Presents An Opportunity

As Billings Growth Turns Negative, I'm Bearish On Fortinet

Jan 22

Fortinet, Inc.'s (NASDAQ:FTNT) Price Is Out Of Tune With Earnings

Jan 06
Fortinet, Inc.'s (NASDAQ:FTNT) Price Is Out Of Tune With Earnings

Fortinet: Solid Growth But Overvalued After Recent Run

Dec 19

Fortinet: Cybersecurity Could Be A Critical Theme In 2025 And I Am Still Bullish

Dec 13

When Should You Buy Fortinet, Inc. (NASDAQ:FTNT)?

Dec 09
When Should You Buy Fortinet, Inc. (NASDAQ:FTNT)?

Is Fortinet (NASDAQ:FTNT) Using Too Much Debt?

Nov 25
Is Fortinet (NASDAQ:FTNT) Using Too Much Debt?

Results: Fortinet, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts

Nov 12
Results: Fortinet, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts

Fortinet: The Good News Keeps Coming

Nov 12

Is Fortinet, Inc. (NASDAQ:FTNT) Trading At A 36% Discount?

Nov 04
Is Fortinet, Inc. (NASDAQ:FTNT) Trading At A 36% Discount?

Does Fortinet (NASDAQ:FTNT) Deserve A Spot On Your Watchlist?

Oct 21
Does Fortinet (NASDAQ:FTNT) Deserve A Spot On Your Watchlist?

Fortinet: On The Road To Recovery (Rating Upgrade)

Oct 10

Returns On Capital Are A Standout For Fortinet (NASDAQ:FTNT)

Sep 23
Returns On Capital Are A Standout For Fortinet (NASDAQ:FTNT)

Fortinet: A Strategic Investment Opportunity In The Cybersecurity Sector

Sep 15

Fortinet: Margins On Steroids (Rating Upgrade)

Sep 09

Market Participants Recognise Fortinet, Inc.'s (NASDAQ:FTNT) Earnings Pushing Shares 32% Higher

Aug 27
Market Participants Recognise Fortinet, Inc.'s (NASDAQ:FTNT) Earnings Pushing Shares 32% Higher

Is Fortinet (NASDAQ:FTNT) A Risky Investment?

Aug 22
Is Fortinet (NASDAQ:FTNT) A Risky Investment?
author-image

Leveraging SASE Expansion And AI Tech To Propel Market Dominance And Revenue Surge

Aug 19 Expansion into Unified SASE and Secure Operation markets, alongside strategic acquisitions, positions Fortinet for potential revenue growth and market share increase.

At US$68.68, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?

Aug 09
At US$68.68, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?

Fortinet Earnings: Solid As A Firewall, 20x Operating Profits (Rating Upgrade)

Aug 07

Fortinet Q2 Preview: Billings Slowdown Overshadows SASE Progress (Ratings Downgrade)

Aug 01

Fortinet, Inc. (NASDAQ:FTNT) Shares Could Be 41% Below Their Intrinsic Value Estimate

Jul 26
Fortinet, Inc. (NASDAQ:FTNT) Shares Could Be 41% Below Their Intrinsic Value Estimate

Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?

Jul 11
Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?

Fortinet Could Be One Of The Most Undervalued Cybersecurity Plays

Jul 09

Fortinet: Nearing The Trough

Jun 28

Fortinet, Inc.'s (NASDAQ:FTNT) Business Is Trailing The Market But Its Shares Aren't

Jun 09
Fortinet, Inc.'s (NASDAQ:FTNT) Business Is Trailing The Market But Its Shares Aren't

Fortinet: Slow Growth Continues To Impact

Jun 06

Fortinet: Growth And Cash Flow Headwinds

May 31

Earnings Beat: Fortinet, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

May 09
Earnings Beat: Fortinet, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Fortinet: Market Overreaction Seems Unwarranted

May 08

Why The 35% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention

Apr 29
Why The 35% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention

Fortinet Q1 Earnings Preview: It's All About SASE

Apr 26

Are Investors Undervaluing Fortinet, Inc. (NASDAQ:FTNT) By 32%?

Apr 13
Are Investors Undervaluing Fortinet, Inc. (NASDAQ:FTNT) By 32%?

Fortinet: Soft Demand Creating Elevated Stock Risk

Mar 25

Fortinet: Adapting To New Dynamics Of Cybersecurity Industry

Mar 12

Fortinet: Excellent Business To Surf The Secular Trend, But Valuations Remain Enriched

Feb 13

Fortinet: Don't Wait Until This Cybersecurity Leader Regains Its All-Time Highs

Feb 03

Shareholder Returns

FTNTUS SoftwareUS Market
7D-7.4%-5.6%-5.6%
1Y26.1%-3.1%3.3%

Return vs Industry: FTNT exceeded the US Software industry which returned -3.1% over the past year.

Return vs Market: FTNT exceeded the US Market which returned 3.3% over the past year.

Price Volatility

Is FTNT's price volatile compared to industry and market?
FTNT volatility
FTNT Average Weekly Movement4.8%
Software Industry Average Movement8.3%
Market Average Movement6.8%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.4%

Stable Share Price: FTNT has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: FTNT's weekly volatility (5%) has been stable over the past year.

Community vs My Fair Value

Create Narrative

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

FTNT logo
Fortinet
AN
AnalystConsensusTarget
Consensus Narrative from 37 Analysts

Unified SASE And AI Focus Will Expand Future Cybersecurity Services, Tapping Into SMB Momentum

Key Takeaways Unified SASE and AI-driven security operations promise significant revenue growth and improved net margins through enhanced market adoption and operational efficiencies. Acquisitions and targeted upsell opportunities in cybersecurity and firewall solutions are anticipated to drive further revenue growth, especially in SMB segments.
View narrative
US$114.59
FV
22.0% undervalued intrinsic discount
14.35%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
161users have followed this narrative
2 days ago author updated this narrative
View Fortinet Community

About the Company

FoundedEmployeesCEOWebsite
200014,138Ken Xiewww.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 capUS$68.78b
Earnings (TTM)US$1.75b
Revenue (TTM)US$5.96b

39.4x

P/E Ratio

11.5x

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)
RevenueUS$5.96b
Cost of RevenueUS$1.16b
Gross ProfitUS$4.80b
Other ExpensesUS$3.05b
EarningsUS$1.75b

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 07, 2025

Earnings per share (EPS)2.27
Gross Margin80.56%
Net Profit Margin29.30%
Debt/Equity Ratio66.6%

How did FTNT perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/04 08:56
End of Day Share Price 2025/04/03 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 75 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.

AnalystInstitution
Ellie BagshawArete Research Services LLP
Shrenik KothariBaird
Ishan MajumdarBaptista Research