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Fortinet

NASDAQ: FTNT

Stock price

153.66 USD

(+0%) TODAY

Systems SoftwareSoftware - Infrastructure

Financial Performance

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5Y price score: 213

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The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.

A score of 100 indicates that the stock did as well as the S&P 500 Index.

A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.

10Y return: 2,058.2%

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    73.5

    52-week range

    172.0

    153.66

    Your model inputs

    Required return / cost of capital
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    FCFF terminal growth rate
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    Your fair value & Margin of safety

    To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.

    Forecast:

    Valuation

    Free Cash Flow Yield

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    FCF Yield TTM = Trailing Twelve Months free cash flow per share / current market price per shareLearn more

    2.7 %

    Dividend Yield TTM

    -

    Market cap $

    $ 112,742

    Price / Earnings TTM

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    P/E TTM = current market price per share / Trailing Twelve Months diluted earnings per shareLearn more

    54.1

    Price / Book TTM

    72.9

    PEG TTM

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    Price/Earnings-to-Growth ratio = P/E TTM divided by most recent annual diluted earnings per share growth rateLearn more

    1.2

    Earnings growth and return

    LTM

    5YR

    10YR

    Total return (price & dividends)

    97.9 %

    151 %

    2,058.1 %

    Free cash flow per share growth

    255.2 %

    160.5 %

    968.8 %

    Earnings per share growth

    43.9 %

    319 %

    24,200 %

    Founded: 2,000

    Employees: 14,556

    Business Summary:Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.

    Fair Value Reference Estimate

    Latest Earnings Call Takeaways

    2026 Q2 (Jul 29, 2026)

    1) Strong Financial Performance
    - Billings grew by 33% YoY to $2.37 billion.
    - Total revenue increased 26% YoY to $2.05 billion, with product revenue up 52% to $773 million.
    - Free cash flow more than tripled YoY to nearly $1 billion.
    - Non-GAAP earnings per share rose 41% to $0.90, while GAAP earnings per share grew 44% to $0.82.
    - Non-GAAP operating margin reached a record 38%, up 490 basis points YoY.

    2) Innovative Product Strategy
    - Fortinet introduced the SASE Firewall, integrating secure networking and Unified SASE on a single platform (FortiOS).
    - The SASE Firewall business grew 34% YoY, with over $2 billion in billings.
    - AI-driven security operations saw 25% growth, supported by over 20 AI-enabled solutions.
    - The launch of the FortiGate 1200G aims to meet evolving customer demands for data privacy and performance.

    3) Market Dynamics and Demand Trends
    - Growing demand for cybersecurity solutions is driven by AI-related threats and regulatory requirements.
    - The convergence of IT and OT security is becoming critical, with OT billings increasing by 56% YoY.
    - Fortinet's unique position in the market is reinforced by its in-house development of key technologies and solutions.
    - The company is seeing strong demand across its three strategic pillars: secure networking, Unified SASE, and AI-driven security operations.

    4) Guidance and Outlook
    - For Q3 2026, Fortinet expects billings between $2.25 billion and $2.35 billion, representing 27% growth.
    - Full-year guidance raised for billings to $9.35 billion to $9.55 billion, indicating 25% growth.
    - Revenue guidance for the full year is set at $8.02 billion to $8.18 billion, reflecting 19% growth.
    - Non-GAAP earnings per share guidance for the full year is projected at $3.41 to $3.47.

    5) Potential Challenges and Missing Information
    - While the company is optimistic about future growth, specific challenges related to pricing strategies and competitive pressures were discussed but not quantified.
    - There is a lack of detailed visibility into the 2027 pipeline and how current trends will translate into future growth metrics.

    Bottom line: Fortinet's robust Q2 2026 performance, driven by innovative product offerings and strong demand across its strategic pillars, positions the company favorably for continued growth. The raised guidance reflects confidence in capturing market share amidst evolving cybersecurity needs, making it an attractive prospect for shareholders.

    Annual Reports, Presentations And IR Contacts

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    Annual report links (10K)
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    Fortinet — Financial Overview, Stock Price, Market Cap

    Fortinet is a company. Founded in 2000. As of August 26, 2026, the company's market capitalization is $112742439920 with a current stock price of $153.66.