US · USD
FTNT
Fortinet Inc
- Day's range
- US$174.74 – US$180.49
- Day's volume
- US$550.3m
- 52-week range
- US$75.23 – US$178.76
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See how FTNT weighs in your net worth, what it has paid you and how far it is from your target allocation.
Create a free accountFTNT in numbers
- Market cap
- US$131.2bn
- P/E
- 61.27
- P/B
- 83.77
- Dividend yield (12m)
- 0.00%
- Net debt/EBITDA
- -0.94
FTNT trades at 61.27 times its earnings of the last 12 months.
FTNT price history
FTNT risk and return
Monthly closes adjusted for splits and distributions.
| Metric | 12 months | 36 months | 60 months |
|---|---|---|---|
| Return | +112.50% | +204.48% | +205.90% |
| Volatility (annualised) | 63.12% | 47.41% | 44.32% |
| Largest drawdown | -8.56% | -27.07% | -32.37% |
| Positive months | 9/12 | 22/36 | 35/60 |
How much did investing in FTNT return?
US$1,000.00 invested on 01/10/2021 would be worth US$2,632.75 today.
- Value today in FTNT
- US$2,632.75
- Return over the period
- +163.28%
- Return per year
- +21.37%
- In the S&P 500
- US$1,658.84
With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.
FTNT fundamentals
Valuation
- P/E61.27
- P/B83.77
- EV/EBITDA49.48
- EV/EBIT52.71
- EV/Revenue17.10
- P/EBIT53.71
- P/S17.42
- P/OCF38.62
- P/FCF—
- Earnings yield1.90%
- PEG ratio—
- Earnings per shareUS$2.89
- Book value per shareUS$2.11
Debt
- Net debt-US$2.4bn
- Net debt/EBITDA-0.94
- Net debt/Equity-1.57
- Debt/Equity0.32
- Current ratio1.28
- Quick ratio1.19
- Cash ratio0.61
Efficiency
- Gross margin80.20%
- EBITDA margin34.56%
- Operating margin32.44%
- Net margin28.17%
- Asset turnover0.69
Profitability
- ROE136.73%
- ROA19.53%
- ROIC—
- Payout0.00%
Growth
- Revenue CAGR (5 years)20.93%
- Earnings CAGR (5 years)32.73%
- Revenue growth (year)—
- Earnings growth (year)—
- Revenue growth (quarter)—
- Earnings growth (quarter)—
What is FTNT's fair price?
Two classic value formulas, with today's numbers. The current price is US$177.10.
- Graham's fair price
- US$11.73
- 93.38% below the price
√(22.50 × US$2.89 × US$2.11)
Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.
- Bazin's ceiling price
- —
- Does not apply to FTNT: it paid no distributions in the last five years.
Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.
Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.
FTNT indicators by year
Multiples at each year's closing price; margins and returns from that year's accounts.
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| P/E | 31.70 | 41.63 | 38.91 | 44.71 | 95.25 | 49.62 | 55.53 | 35.88 |
| P/B | 47.48 | 48.64 | -96.38 | -136.13 | 73.94 | 28.32 | 13.72 | 11.72 |
| EV/EBITDA | 25.60 | 36.74 | 32.67 | 35.05 | 78.21 | 37.30 | 44.64 | 41.43 |
| Earnings per share | US$2.50 | US$2.27 | US$1.50 | US$1.09 | US$3.77 | US$2.99 | US$1.92 | US$1.96 |
| Book value per share | US$1.67 | US$1.94 | -US$0.61 | -US$0.36 | US$4.86 | US$5.25 | US$7.78 | US$6.01 |
| ROE | 149.77% | 116.83% | -247.69% | -304.44% | 77.62% | 57.07% | 24.71% | 32.66% |
| ROIC | — | — | — | — | 140.98% | — | 22.47% | 22.86% |
| Gross margin | 80.46% | 80.56% | 76.68% | 75.44% | 76.57% | 78.03% | 76.61% | 75.04% |
| EBITDA margin | 32.89% | 32.34% | 25.53% | 24.31% | 21.99% | 23.15% | 19.08% | 16.08% |
| Net margin | 27.26% | 29.30% | 21.64% | 19.41% | 18.16% | 18.83% | 15.34% | 18.56% |
| Net debt/EBITDA | -0.67 | -0.98 | -0.30 | -0.64 | -0.45 | -3.06 | — | — |
FTNT financial statements
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Net revenue | US$6.8bn | US$6bn | US$5.3bn | US$4.4bn | US$3.3bn | US$2.6bn |
| Cost of sales | -US$1.3bn | -US$1.2bn | -US$1.2bn | -US$1.1bn | -US$783m | -US$570m |
| Gross profit | US$5.5bn | US$4.8bn | US$4.1bn | US$3.3bn | US$2.6bn | US$2bn |
| EBITDA | US$2.2bn | US$1.9bn | US$1.4bn | US$1.1bn | US$734.8m | US$600.6m |
| EBIT | US$2.1bn | US$1.8bn | US$1.2bn | US$969.6m | US$650.4m | US$531.8m |
| Net finance result | — | — | — | — | — | — |
| Profit before tax | US$2.3bn | US$2.1bn | US$1.3bn | US$955.5m | US$628.4m | US$541.7m |
| Income tax | -US$439.1m | -US$283.9m | -US$143.8m | -US$30.8m | -US$14.1m | -US$53.2m |
| Net income | US$1.9bn | US$1.7bn | US$1.1bn | US$857.3m | US$606.8m | US$488.5m |
Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.
Does FTNT pay dividends?
FTNT has no distributions on record.
About Fortinet
- Sector
- Manufacturing
Questions about FTNT
How much is FTNT today?
FTNT is at US$177.10 (0.65% on the day), last traded on 01/10/2026.
What are the P/E and P/B of FTNT?
FTNT trades at a P/E of 61.27 and a P/B of 83.77.
How much did FTNT return in 12 months?
FTNT returned 112.50% in 12 months, with annualised volatility of 63.12% and a largest drawdown of -8.56%.