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Fortinet, Inc. FTNT

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Price alert · FTNT

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128.11 USD +1.90 (+1.51%)

At closeNov 4, 2026, 5:27 AM EST

129.75 +1.64 +1.28%

Pre-market · Nov 4, 5:27 AM ET

127.00 Day range 130.76
73.55 52-week range 197.13
YTD
+61.33%
1 year
+50.33%

Financial health

Altman Z-Score

7.40 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

7 / 9 Strong

Nine pass/fail tests of profitability, leverage and efficiency.

FMP rating

B+3 / 5 overall

  • DCF 3
  • Return on Equity 5
  • Return on Assets 5
  • Debt / Equity 3
  • P/E 1
  • P/B 1

Valuation

P/E 32.5×
FY 2016: 158×FY 2017: 243×FY 2018: 36.1×FY 2019: 54.7×FY 2020: 49.5×FY 2021: 97.1×FY 2022: 45.3×FY 2023: 39.8×FY 2024: 41.4×FY 2025: 32.5×
FY 2016 5y median 41.4× FY 2025
P/S 8.7×
FY 2016: 4.1×FY 2017: 5.1×FY 2018: 6.6×FY 2019: 8.4×FY 2020: 9.4×FY 2021: 17.5×FY 2022: 8.8×FY 2023: 8.6×FY 2024: 12.1×FY 2025: 8.7×
FY 2016 5y median 8.8× FY 2025
P/B 47.7×
FY 2016: 6.2×FY 2017: 12.9×FY 2018: 11.8×FY 2019: 13.6×FY 2020: 28.5×FY 2021: 75.0×FY 2022: -137×FY 2023: -98.3×FY 2024: 48.3×FY 2025: 47.7×
FY 2016 5y median 47.7× FY 2025
P/FCF 26.5×
FY 2016: 18.7×FY 2017: 16.6×FY 2018: 20.3×FY 2019: 25.5×FY 2020: 25.5×FY 2021: 48.7×FY 2022: 26.7×FY 2023: 26.3×FY 2024: 38.4×FY 2025: 26.5×
FY 2016 5y median 26.7× FY 2025
EV/EBITDA 23.3×
FY 2016: 47.0×FY 2017: 41.1×FY 2018: 37.2×FY 2019: 38.1×FY 2020: 38.2×FY 2021: 80.1×FY 2022: 35.3×FY 2023: 30.8×FY 2024: 32.0×FY 2025: 23.3×
FY 2016 5y median 32.0× FY 2025
EV/Sales 8.5×
FY 2016: 3.5×FY 2017: 4.6×FY 2018: 6.0×FY 2019: 7.9×FY 2020: 9.0×FY 2021: 17.5×FY 2022: 8.6×FY 2023: 8.5×FY 2024: 11.8×FY 2025: 8.5×
FY 2016 5y median 8.6× FY 2025
FCF Yield 3.8%
FY 2016: 5.4%FY 2017: 6.0%FY 2018: 4.9%FY 2019: 3.9%FY 2020: 3.9%FY 2021: 2.1%FY 2022: 3.7%FY 2023: 3.8%FY 2024: 2.6%FY 2025: 3.8%
FY 2016 5y median 3.7% FY 2025

Profitability

Gross Margin 80.8%
FY 2016: 73.5%FY 2017: 74.2%FY 2018: 75.0%FY 2019: 76.6%FY 2020: 78.0%FY 2021: 76.6%FY 2022: 75.4%FY 2023: 76.7%FY 2024: 80.6%FY 2025: 80.8%
FY 2016 5y median 76.7% FY 2025
Operating Margin 30.6%
FY 2016: 3.4%FY 2017: 7.3%FY 2018: 13.0%FY 2019: 16.2%FY 2020: 20.5%FY 2021: 19.5%FY 2022: 21.9%FY 2023: 23.4%FY 2024: 30.3%FY 2025: 30.6%
FY 2016 5y median 23.4% FY 2025
Net Margin 27.3%
FY 2016: 2.5%FY 2017: 2.1%FY 2018: 18.6%FY 2019: 15.3%FY 2020: 18.8%FY 2021: 18.2%FY 2022: 19.4%FY 2023: 21.6%FY 2024: 29.3%FY 2025: 27.3%
FY 2016 5y median 21.6% FY 2025
ROE 149.8%
FY 2016: 3.8%FY 2017: 5.3%FY 2018: 33.2%FY 2019: 24.7%FY 2020: 57.1%FY 2021: 77.6%FY 2022: -304.4%FY 2023: -247.7%FY 2024: 116.8%FY 2025: 149.8%
FY 2016 5y median 77.6% FY 2025
ROIC 28.7%
FY 2016: 2.4%FY 2017: 2.3%FY 2018: 12.9%FY 2019: 12.4%FY 2020: 21.7%FY 2021: 17.7%FY 2022: 29.7%FY 2023: 31.2%FY 2024: 27.2%FY 2025: 28.7%
FY 2016 5y median 28.7% FY 2025
ROA 17.8%
FY 2016: 1.5%FY 2017: 1.4%FY 2018: 10.9%FY 2019: 8.6%FY 2020: 12.1%FY 2021: 10.3%FY 2022: 13.8%FY 2023: 15.8%FY 2024: 17.9%FY 2025: 17.8%
FY 2016 5y median 15.8% FY 2025

Growth (YoY)

Revenue 14.2%
FY 2016: 26.4%FY 2017: 17.2%FY 2018: 20.7%FY 2019: 19.9%FY 2020: 19.9%FY 2021: 28.8%FY 2022: 32.2%FY 2023: 20.1%FY 2024: 12.3%FY 2025: 14.2%
FY 2016 FY 2025
Operating Income 15.4%
FY 2016: 188.4%FY 2017: 155.9%FY 2018: 113.5%FY 2019: 49.7%FY 2020: 51.5%FY 2021: 22.3%FY 2022: 49.1%FY 2023: 28.0%FY 2024: 45.3%FY 2025: 15.4%
FY 2016 FY 2025
EPS (diluted) 7.5%
FY 2016: 260.0%FY 2017: 0.0%FY 2018: 955.6%FY 2019: 0.0%FY 2020: 52.6%FY 2021: 25.9%FY 2022: 45.2%FY 2023: 37.7%FY 2024: 54.8%FY 2025: 7.5%
FY 2016 FY 2025
Free Cash Flow 18.4%
FY 2016: 13.6%FY 2017: 64.8%FY 2018: 27.6%FY 2019: 22.2%FY 2020: 33.8%FY 2021: 25.7%FY 2022: 20.4%FY 2023: 19.5%FY 2024: 8.5%FY 2025: 18.4%
FY 2016 FY 2025

Financial Health

Current Ratio 1.2×
FY 2016: 1.9×FY 2017: 1.7×FY 2018: 1.8×FY 2019: 1.9×FY 2020: 1.5×FY 2021: 1.6×FY 2022: 1.2×FY 2023: 1.2×FY 2024: 1.5×FY 2025: 1.2×
FY 2016 5y median 1.2× FY 2025
Quick Ratio 1.1×
FY 2016: 1.7×FY 2017: 1.6×FY 2018: 1.7×FY 2019: 1.8×FY 2020: 1.4×FY 2021: 1.5×FY 2022: 1.2×FY 2023: 1.1×FY 2024: 1.4×FY 2025: 1.1×
FY 2016 5y median 1.2× FY 2025
Debt / Equity 0.8×
FY 2016: 0.0×FY 2017: 0.0×FY 2018: 0.0×FY 2019: 0.0×FY 2020: 0.0×FY 2021: 1.3×FY 2022: -3.5×FY 2023: -2.1×FY 2024: 0.7×FY 2025: 0.8×
FY 2016 5y median 0.7× FY 2025
Net Debt / EBITDA -0.6×
FY 2016: -7.4×FY 2017: -4.9×FY 2018: -3.8×FY 2019: -2.7×FY 2020: -1.7×FY 2021: -0.5×FY 2022: -0.6×FY 2023: -0.3×FY 2024: -0.9×FY 2025: -0.6×
FY 2016 5y median -0.6× FY 2025
Interest Coverage 104×
FY 2016: 0.0×FY 2017: 0.0×FY 2018: 0.0×FY 2019: 0.0×FY 2020: 0.0×FY 2021: 43.7×FY 2022: 53.9×FY 2023: 59.1×FY 2024: 90.2×FY 2025: 104×
FY 2016 5y median 59.1× FY 2025

Dividends

Dividend Yield 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025
Payout Ratio 0.0%
FY 2016: 0.0%FY 2017: 0.0%FY 2018: 0.0%FY 2019: 0.0%FY 2020: 0.0%FY 2021: 0.0%FY 2022: 0.0%FY 2023: 0.0%FY 2024: 0.0%FY 2025: 0.0%
FY 2016 5y median 0.0% FY 2025

Annual · latest fiscal year ends 2025-12-31