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FTNT

FTNTFortinet, Inc.

NasdaqGS

Technology · Software - Infrastructure

$148.00+1.80%
Mkt Cap: $108.43B

Fortinet, Inc. (FTNT) stock trades at $148.00, up 1.80% on the day. With a market capitalization of $108.43 billion, FTNT is a large-cap technology stock. It trades at a price-to-earnings (P/E) ratio of 57.4, a forward P/E of 43.2 and earnings per share (EPS) of $2.58. Over the most recent period the company reported 20% year-over-year revenue growth and a net profit margin of 27.5%. Below you'll find FTNT's full fundamentals, fair-value estimates, dividend history, earnings and our buy, hold or avoid verdict for 2026.

Price & Performance

Performance

Analysis & Verdict

Fortinet, Inc. (FTNT) Stock Analysis 2026

Rule-based · Updated daily · Not financial advice

Fortinet, Inc. (FTNT) operates in the Software - Infrastructure space within the Technology sector. With a market cap of $108.4B, it qualifies as a mid-cap company. The company is growing revenue strongly while maintaining healthy profitability — a combination that investors typically reward with a premium valuation.

Bull Case5
  • Forward P/E (43.2×) is lower than trailing P/E (57.4×) — analysts expect earnings to improve
  • Revenue grew 20% year-over-year — exceptional top-line expansion
  • Earnings grew 29% YoY — bottom-line is expanding fast
  • Exceptional profit margin of 27.5% — the business retains a large share of each dollar earned
  • ROE of 132.4% shows management efficiently converts equity into profit
Bear Case4
  • High P/E of 57.4× implies high expectations already priced in — leaves little room for disappointment
  • High debt-to-equity of 57.31× increases financial risk, especially with elevated interest rates
  • No dividend history — total return depends entirely on price appreciation
  • Price is near its 52-week high — limited near-term upside, higher pullback risk

Verdict

Buy / Hold

More positives than negatives. Fundamentals support holding while monitoring key risks.

AI Insight

Powered by Claude

AI-generated analysis for informational purposes only. Not financial advice.

Fair Value Estimates

Current price: $148.00

Graham Number

√(22.5 × EPS × Book Value)

$8.85

-94.0% downside

Benjamin Graham's intrinsic value formula. Assumes a fair stock trades at no more than 22.5× the product of EPS and book value per share.

Bazin Ceiling Price

Avg. Annual DPS (5Y) ÷ 6%

N/A

Décio Bazin's dividend-based ceiling. The max price you should pay so that dividends alone deliver at least 6% annual yield on your cost basis.

These are simplified estimates. Not financial advice.

Buy & Hold Checklist

Quality criteria for long-term holding

6/10

75% score

Pays dividends

No dividend history found

Dividend consistency (5Y+)

Uninterrupted dividend payments for at least 5 years

ROE above 10%

132.4%

Return on equity — measures how efficiently capital is used

Positive profit margin

27.5%

Net profit margin must be positive — company earns more than it spends

Revenue growth (annual)

+20.1%

Annual revenue must be growing compared to the prior year

Earnings growth (annual)

+28.6%

Annual earnings must be growing compared to the prior year

Debt/Equity below 2×

57.31×

Low financial leverage reduces risk of distress

Current ratio above 1

1.15×

Short-term assets must cover short-term liabilities

Daily liquidity above $5M

$949M/day

High trading volume ensures easy entry and exit

Dividend yield above 0%

Stock must distribute income to shareholders

Financials

Revenue & Results

Key Statistics

Market Cap$108.43B
P/E Ratio57.36
Forward P/E43.20
P/B Ratio
PEG Ratio3.28

Earnings

Next Earnings

Aug 5, 2026

42

days

EPS (TTM)

$2.58

P/E (TTM)

57.4

Fwd P/E

43.2

SEC Filings & Reported Financials

Earnings History

SEC EDGAR · official filings

SEC filings

SEC Filings

Official EDGAR documents

All filings

Insider Transactions

SEC Form 4 · officers, directors & 10% owners

Dividends & Income

Dividends

This stock does not pay dividends.

Tools & Simulators

If You Had Invested…

Hypothetical return based on historical prices

$

* Dividend reinvestment calculated at ex-date price. For informational purposes only.

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About Fortinet, Inc.

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge 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. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

Sector

Technology

Industry

Software - Infrastructure

Location

Sunnyvale, United States

Employees

15,311

Listed on NasdaqGS

FTNT — Frequently Asked Questions

Is Fortinet, Inc. (FTNT) a good stock to buy in 2026?

Fortinet, Inc. (FTNT) shows strengths such as revenue growth of 20%, a strong 27% net margin and a 132% return on equity, while risks include a rich P/E of 57× and high leverage (debt/equity of 57.3). Whether FTNT is a good buy in 2026 depends on your time horizon and risk tolerance — review the full bull case, bear case and fair-value estimates above. This is informational analysis, not financial advice.

What is FTNT's stock price today?

Fortinet, Inc. (FTNT) trades at $148.00, up 1.80% on the session. Prices on this page update throughout the trading day.

Does FTNT pay a dividend?

No. Fortinet, Inc. (FTNT) does not currently pay a dividend, so the return comes entirely from share-price appreciation.

Is FTNT overvalued?

With a P/E ratio of 57.4×, FTNT trades at a premium valuation for the technology sector. Its PEG ratio is 3.28. See the Fair Value Estimates section above for Graham Number and dividend-based price targets.

What is FTNT's market cap?

Fortinet, Inc. (FTNT) has a market capitalization of $108.43 billion, classifying it as a large-cap stock in the Technology sector.

Disclaimer: This page — including any buy/hold/avoid view, fair value or price estimate — is generated from market data for informational and educational purposes only and does not constitute financial, investment or trading advice. Data may be delayed or inaccurate. Always do your own research and consult a licensed financial advisor before making any investment decision.