FTNT
Fortinet
$145.39
▲ 0.5%Updated Today 7:15 PM ET
▲ Up 43.6% over the last 12 months
Market Cap
$106.04B
P/E
53.78x
Forward P/E (est.)
50.47x
ROE
155.7%
Revenue Growth
15.8%
EPS Growth
6.6%
Profit Margin
27.5%
FCF Yield
1.1%
Debt / Equity
0.81x
ROIC
83.0%
Interest Coverage
103.72x
Current Ratio
1.15x
Dividend Yield
—
Implied Growth (rev. DCF)
6.8%
Rating Score
60/100
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what FTNT's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. FTNT trades near $145.39, above its 50-day average ($114.05) and 200-day average ($89.90). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 58 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. FTNT's is $6.45 (~4.4% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month FTNT found buyers near $126.61 (support) and sellers near $150.07 (resistance); its 52-week range is $70.12–$150.07. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 2.6× the 20-day average — heavier than usual, which adds conviction to the move. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
Fortinet (FTNT) is a large-cap company in the Systems Software industry, part of the Information Technology sector of the S&P 500, with a market value around $106.04B.
In its latest reported year it generated about $6.80B in revenue and $1.85B in net profit.
Our model rates FTNT Favorable (60/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
4Y CAGR
19.4%
Revenue moved from $3.34B in 2021 to $6.80B in 2025, a 19.4% compound annual growth rate. The most recent year grew a strong 15.8% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
80.5%
Operating Margin
30.7%
Net Margin
27.3%
ROE
155.7%
Fortinet keeps about 27.5% of each sales dollar as net profit, with a 80.5% gross margin and 30.7% operating margin. Return on equity is 155.7% and return on invested capital about 83.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$987.50M
Net Debt
-$1.24B
Net cash position
Net Debt / EBITDA
-0.59x
Debt / Equity
0.81x
Leverage: debt-to-equity is 0.8x, and operating profit covers interest about 103.7x, with a current ratio of 1.1x. That is a moderate, manageable debt load for most businesses. It carries roughly $987.50M of total debt against $2.22B of cash.
Operating CF
$2.59B
Free Cash Flow
$2.23B
FCF Margin
32.7%
In the latest year Fortinet produced about $2.59B of operating cash flow and $2.23B of free cash flow after capital spending. That is a free-cash-flow yield of about 1.1% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
P/E
53.78x
P/S
15.7x
P/B
46.98x
EV / EBITDA
47.6x
FTNT trades at 53.8x trailing earnings (about 50.5x on estimated forward earnings), 15.7x sales, and 47.0x book value. Reverse-engineering today's price implies the market expects roughly 6.8% long-term free-cash-flow growth. That is a rich multiple that prices in a lot of future growth.
Where this stock sits versus what most companies trade at.
Typical ranges are general references (e.g., many stocks trade at ~18–26x earnings), not hard rules. Context only — not investment advice.
How FTNT stacks up against its Information Technology peers — valuation, profitability, and growth versus the sector median.
In the Information Technology sector (72 S&P 500 companies), FTNT ranks #37 of 72 by our overall rating. It trades at a premium versus the sector on earnings (53.8x P/E vs. 35.6x median) with a higher return on equity (155.7% vs. 25.6%) and slower revenue growth (15.8% vs. 17.4%).
P/E vs sector
53.8x
median 35.6x
ROE vs sector
155.7%
median 25.6%
Growth vs sector
15.8%
median 17.4%
Sector rank
#37
of 72 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Information Technology companies by sub-industry and size. Sector median is across all 72 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$168.42 – $284.21
vs. $145.39 today · expected CAGR 3% – 14%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $7.89B | $9.15B | $10.61B | $12.31B | $14.28B |
| Net income | $2.13B | $2.47B | $2.87B | $3.32B | $3.86B |
| EPS | $2.91 | $3.37 | $3.91 | $4.54 | $5.26 |
| Share price (low) | $93.02 | $107.90 | $125.16 | $145.19 | $168.42 |
| Share price (high) | $156.97 | $182.08 | $211.21 | $245.01 | $284.21 |
| CAGR (low–high) | -36% / 8% | -14% / 12% | -5% / 13% | -0% / 14% | 3% / 14% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for FTNT:
- Revenue is growing 15.8% a year, a sign of real demand.
- High net margins (27.5%) point to pricing power or efficiency.
- Strong return on equity (155.7%) shows capital is put to work well.
- Our model's overall read is Favorable (60/100).
The case against FTNT:
- A rich 53.8x earnings multiple prices in a lot of growth.
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Valuation risk — at 53.8x earnings, disappointing results could compress the multiple.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the fundamentals screen favourably: Fortinet is a large-cap information technology business still growing nicely, with solid profitability, and a heavier debt load to watch. It trades at 53.8x earnings, which our model scores Favorable (60/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.