(FTNT) Fortinet - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US34959E1091
Stock: Cybersecurity, Networking, Cloud Security, AI Security
Total Rating 58
Risk 81
Buy Signal -0.25
| Risk 5d forecast | |
|---|---|
| Volatility | 35.7% |
| Relative Tail Risk | -7.81% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.33 |
| Alpha | -26.03 |
| Character TTM | |
|---|---|
| Beta | 0.407 |
| Beta Downside | -0.597 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.32% |
| CAGR/Max DD | 0.24 |
EPS (Earnings per Share)
Revenue
Description: FTNT Fortinet March 04, 2026
Fortinet, Inc. (FTNT) provides cybersecurity and networking convergence solutions globally. The companys offerings span secure networking, including firewall solutions for various environments, and secure connectivity products like Ethernet switches and wireless access points. The cybersecurity sector is characterized by constant evolution in response to emerging threats.
Fortinet also delivers Unified Secure Access Service Edge (SASE) solutions, integrating firewall, SD-WAN, and other security functionalities. Additionally, it offers AI-driven security operations products for threat detection, response, and recovery across endpoints, networks, and applications. This comprehensive approach is typical for established cybersecurity vendors addressing diverse client needs.
The company provides various security services, technical support, and training programs, supported by its FortiGuard Lab for threat intelligence. Fortinet serves a broad customer base, from large enterprises to small-to-medium-sized businesses and government organizations. Further research on ValueRay can provide deeper insights into FTNTs financial performance and market position.
Headlines to watch out for
- Increased demand for integrated cybersecurity platforms drives revenue growth
- Cloud security adoption expands FortiCloud and SASE solution sales
- Government and critical infrastructure spending boosts OT security segment
- Competitive pricing pressure impacts FortiGate firewall market share
Piotroski VR‑10 (Strict, 0-10) 9.0
| Net Income: 1.85b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.21 > 0.02 and ΔFCF/TA 2.18 > 1.0 |
| NWC/Revenue: 12.74% < 20% (prev 32.08%; Δ -19.34% < -1%) |
| CFO/TA 0.25 > 3% & CFO 2.59b > Net Income 1.85b |
| Net Debt (-1.50b) to EBITDA (2.45b): -0.61 < 3 |
| Current Ratio: 1.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (748.0m) vs 12m ago -3.51% < -2% |
| Gross Margin: 80.84% > 18% (prev 0.81%; Δ 8.00k% > 0.5%) |
| Asset Turnover: 67.48% > 50% (prev 61.00%; Δ 6.48% > 0%) |
| Interest Coverage Ratio: 114.5 > 6 (EBITDA TTM 2.45b / Interest Expense TTM 20.1m) |
Altman Z'' 1.86
| A: 0.08 (Total Current Assets 5.90b - Total Current Liabilities 5.03b) / Total Assets 10.39b |
| B: -0.05 (Retained Earnings -507.9m / Total Assets 10.39b) |
| C: 0.23 (EBIT TTM 2.30b / Avg Total Assets 10.08b) |
| D: -0.06 (Book Value of Equity -532.6m / Total Liabilities 9.15b) |
| Altman-Z'' Score: 1.86 = BBB |
Beneish M -2.93
| DSRI: 1.01 (Receivables 1.69b/1.46b, Revenue 6.80b/5.96b) |
| GMI: 1.00 (GM 80.84% / 80.56%) |
| AQI: 1.10 (AQ_t 0.28 / AQ_t-1 0.25) |
| SGI: 1.14 (Revenue 6.80b / 5.96b) |
| TATA: -0.07 (NI 1.85b - CFO 2.59b) / TA 10.39b) |
| Beneish M-Score: -2.93 (Cap -4..+1) = A |
What is the price of FTNT shares?
As of March 22, 2026, the stock is trading at USD 81.40 with a total of 16,248,447 shares traded.
Over the past week, the price has changed by -2.44%, over one month by +1.75%, over three months by -0.42% and over the past year by -17.32%.
Over the past week, the price has changed by -2.44%, over one month by +1.75%, over three months by -0.42% and over the past year by -17.32%.
Is FTNT a buy, sell or hold?
Fortinet has received a consensus analysts rating of 3.47.
Therefor, it is recommend to hold FTNT.
- StrongBuy: 9
- Buy: 7
- Hold: 27
- Sell: 0
- StrongSell: 2
What are the forecasts/targets for the FTNT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 89.1 | 9.4% |
| Analysts Target Price | 89.1 | 9.4% |
FTNT Fundamental Data Overview March 21, 2026
P/E Trailing = 34.3471
P/E Forward = 27.8552
P/S = 9.0905
P/B = 49.6989
P/EG = 2.0909
Revenue TTM = 6.80b USD
EBIT TTM = 2.30b USD
EBITDA TTM = 2.45b USD
Long Term Debt = 496.6m USD (from longTermDebt, last quarter)
Short Term Debt = 499.7m USD (from shortTermDebt, last quarter)
Debt = 996.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.50b USD (from netDebt column, last quarter)
Enterprise Value = 59.23b USD (61.81b + Debt 996.3m - CCE 3.58b)
Interest Coverage Ratio = 114.5 (Ebit TTM 2.30b / Interest Expense TTM 20.1m)
EV/FCF = 26.61x (Enterprise Value 59.23b / FCF TTM 2.23b)
FCF Yield = 3.76% (FCF TTM 2.23b / Enterprise Value 59.23b)
FCF Margin = 32.73% (FCF TTM 2.23b / Revenue TTM 6.80b)
Net Margin = 27.26% (Net Income TTM 1.85b / Revenue TTM 6.80b)
Gross Margin = 80.84% ((Revenue TTM 6.80b - Cost of Revenue TTM 1.30b) / Revenue TTM)
Gross Margin QoQ = 79.57% (prev 81.53%)
Tobins Q-Ratio = 5.70 (Enterprise Value 59.23b / Total Assets 10.39b)
Interest Expense / Debt = 0.44% (Interest Expense 4.40m / Debt 996.3m)
Taxrate = 22.25% (144.8m / 650.8m)
NOPAT = 1.79b (EBIT 2.30b * (1 - 22.25%))
Current Ratio = 1.17 (Total Current Assets 5.90b / Total Current Liabilities 5.03b)
Debt / Equity = 0.81 (Debt 996.3m / totalStockholderEquity, last quarter 1.24b)
Debt / EBITDA = -0.61 (Net Debt -1.50b / EBITDA 2.45b)
Debt / FCF = -0.67 (Net Debt -1.50b / FCF TTM 2.23b)
Total Stockholder Equity = 1.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.39% (Net Income 1.85b / Total Assets 10.39b)
RoE = 123.6% (Net Income TTM 1.85b / Total Stockholder Equity 1.50b)
RoCE = 115.4% (EBIT 2.30b / Capital Employed (Equity 1.50b + L.T.Debt 496.6m))
RoIC = 71.75% (NOPAT 1.79b / Invested Capital 2.49b)
WACC = 7.30% (E(61.81b)/V(62.81b) * Re(7.41%) + D(996.3m)/V(62.81b) * Rd(0.44%) * (1-Tc(0.22)))
Discount Rate = 7.41% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -1.59%
[DCF] Terminal Value 83.18% ; FCFF base≈2.09b ; Y1≈2.49b ; Y5≈3.93b
[DCF] Fair Price = 107.2 (EV 77.82b - Net Debt -1.50b = Equity 79.32b / Shares 739.9m; r=7.30% [WACC]; 5y FCF grow 20.68% → 2.90% )
EPS Correlation: 93.60 | EPS CAGR: 47.21% | SUE: 1.63 | # QB: 16
Revenue Correlation: 96.20 | Revenue CAGR: 20.23% | SUE: 2.03 | # QB: 2
EPS next Quarter (2026-06-30): EPS=0.70 | Chg7d=+0.001 | Chg30d=+0.002 | Revisions Net=+3 | Analysts=40
EPS current Year (2026-12-31): EPS=2.98 | Chg7d=+0.000 | Chg30d=-0.001 | Revisions Net=-2 | Growth EPS=+8.0% | Growth Revenue=+11.8%
EPS next Year (2027-12-31): EPS=3.31 | Chg7d=-0.002 | Chg30d=-0.004 | Revisions Net=+0 | Growth EPS=+11.1% | Growth Revenue=+10.6%
[Analyst] Revisions Ratio: +1.00 (3 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 5.0% (Discount Rate 7.9% - Earnings Yield 2.9%)
[Growth] Growth Spread = +6.8% (Analyst 11.8% - Implied 5.0%)
P/E Forward = 27.8552
P/S = 9.0905
P/B = 49.6989
P/EG = 2.0909
Revenue TTM = 6.80b USD
EBIT TTM = 2.30b USD
EBITDA TTM = 2.45b USD
Long Term Debt = 496.6m USD (from longTermDebt, last quarter)
Short Term Debt = 499.7m USD (from shortTermDebt, last quarter)
Debt = 996.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.50b USD (from netDebt column, last quarter)
Enterprise Value = 59.23b USD (61.81b + Debt 996.3m - CCE 3.58b)
Interest Coverage Ratio = 114.5 (Ebit TTM 2.30b / Interest Expense TTM 20.1m)
EV/FCF = 26.61x (Enterprise Value 59.23b / FCF TTM 2.23b)
FCF Yield = 3.76% (FCF TTM 2.23b / Enterprise Value 59.23b)
FCF Margin = 32.73% (FCF TTM 2.23b / Revenue TTM 6.80b)
Net Margin = 27.26% (Net Income TTM 1.85b / Revenue TTM 6.80b)
Gross Margin = 80.84% ((Revenue TTM 6.80b - Cost of Revenue TTM 1.30b) / Revenue TTM)
Gross Margin QoQ = 79.57% (prev 81.53%)
Tobins Q-Ratio = 5.70 (Enterprise Value 59.23b / Total Assets 10.39b)
Interest Expense / Debt = 0.44% (Interest Expense 4.40m / Debt 996.3m)
Taxrate = 22.25% (144.8m / 650.8m)
NOPAT = 1.79b (EBIT 2.30b * (1 - 22.25%))
Current Ratio = 1.17 (Total Current Assets 5.90b / Total Current Liabilities 5.03b)
Debt / Equity = 0.81 (Debt 996.3m / totalStockholderEquity, last quarter 1.24b)
Debt / EBITDA = -0.61 (Net Debt -1.50b / EBITDA 2.45b)
Debt / FCF = -0.67 (Net Debt -1.50b / FCF TTM 2.23b)
Total Stockholder Equity = 1.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.39% (Net Income 1.85b / Total Assets 10.39b)
RoE = 123.6% (Net Income TTM 1.85b / Total Stockholder Equity 1.50b)
RoCE = 115.4% (EBIT 2.30b / Capital Employed (Equity 1.50b + L.T.Debt 496.6m))
RoIC = 71.75% (NOPAT 1.79b / Invested Capital 2.49b)
WACC = 7.30% (E(61.81b)/V(62.81b) * Re(7.41%) + D(996.3m)/V(62.81b) * Rd(0.44%) * (1-Tc(0.22)))
Discount Rate = 7.41% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -1.59%
[DCF] Terminal Value 83.18% ; FCFF base≈2.09b ; Y1≈2.49b ; Y5≈3.93b
[DCF] Fair Price = 107.2 (EV 77.82b - Net Debt -1.50b = Equity 79.32b / Shares 739.9m; r=7.30% [WACC]; 5y FCF grow 20.68% → 2.90% )
EPS Correlation: 93.60 | EPS CAGR: 47.21% | SUE: 1.63 | # QB: 16
Revenue Correlation: 96.20 | Revenue CAGR: 20.23% | SUE: 2.03 | # QB: 2
EPS next Quarter (2026-06-30): EPS=0.70 | Chg7d=+0.001 | Chg30d=+0.002 | Revisions Net=+3 | Analysts=40
EPS current Year (2026-12-31): EPS=2.98 | Chg7d=+0.000 | Chg30d=-0.001 | Revisions Net=-2 | Growth EPS=+8.0% | Growth Revenue=+11.8%
EPS next Year (2027-12-31): EPS=3.31 | Chg7d=-0.002 | Chg30d=-0.004 | Revisions Net=+0 | Growth EPS=+11.1% | Growth Revenue=+10.6%
[Analyst] Revisions Ratio: +1.00 (3 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 5.0% (Discount Rate 7.9% - Earnings Yield 2.9%)
[Growth] Growth Spread = +6.8% (Analyst 11.8% - Implied 5.0%)