fortinet inc. - FTNT

FTNT

Close Chg Chg %
123.57 5.34 4.32%

Open Market

128.91

+5.34 (4.32%)

Volume: 2.26M

Last Updated:

Nov 11, 2026, 11:06 AM EDT

Company Overview: fortinet inc. - FTNT

FTNT Key Data

Open

$127.12

Day Range

126.37 - 129.37

52 Week Range

73.55 - 197.13

Market Cap

$89.98B

Shares Outstanding

734.71M

Public Float

608.34M

Beta

1.04

Rev. Per Employee

N/A

P/E Ratio

39.88

EPS

$3.10

Yield

0.00%

Dividend

N/A

EX-DIVIDEND DATE

SHORT INTEREST

N/A

AVERAGE VOLUME

6.02M

 

FTNT Performance

1 Week
 
3.98%
 
1 Month
 
-36.55%
 
3 Months
 
-22.77%
 
1 Year
 
50.13%
 
5 Years
 
80.57%
 

FTNT Analyst Ratings

  • Sell
  • Under
  • Hold
  • Over
  • Buy
Number of Ratings 47
Full Ratings ➔

About fortinet inc. - FTNT

Fortinet, Inc. provides cybersecurity solutions to a variety of businesses, such as enterprises, communication service providers, government organizations, and small to medium-sized businesses. Its product portfolio includes network security, secure access service edge, enterprise networking, security operations, application security, and operational technology. The company was founded by Ken Xie and Michael Xie in November 2000 and is headquartered in Sunnyvale, CA.

FTNT At a Glance

Fortinet, Inc.
909 Kifer Road
Sunnyvale, California 94086
Phone 1-408-235-7700 Revenue 6.80B
Industry Information Technology Services Net Income 1.85B
Sector Technology Services 2025 Sales Growth 14.168%
Fiscal Year-end 12 / 2026 Employees 15,109
View SEC Filings

FTNT Valuation

P/E Current 39.876
P/E Ratio (with extraordinary items) N/A
P/E Ratio (without extraordinary items) 32.76
Price to Sales Ratio 8.929
Price to Book Ratio 47.678
Price to Cash Flow Ratio 23.44
Enterprise Value to EBITDA 26.14
Enterprise Value to Sales 8.559
Total Debt to Enterprise Value 0.018

FTNT Efficiency

Revenue/Employee 450,036.402
Income Per Employee 122,668.608
Receivables Turnover 4.021
Total Asset Turnover 0.675

FTNT Liquidity

Current Ratio 1.172
Quick Ratio 1.093
Cash Ratio 0.712

FTNT Profitability

Gross Margin 80.456
Operating Margin 30.506
Pretax Margin 33.564
Net Margin 27.257
Return on Assets 18.394
Return on Equity 135.716
Return on Total Capital 80.607
Return on Invested Capital 86.245

FTNT Capital Structure

Total Debt to Total Equity 85.802
Total Debt to Total Capital 46.179
Total Debt to Total Assets 10.22
Long-Term Debt to Equity 42.505
Long-Term Debt to Total Capital 22.877
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement

Annual Financials for Fortinet Inc. - FTNT

Collapse All in section
All values USD millions. 2022 2023 2024 2025 5-year trend
Sales/Revenue
4.42B 5.30B 5.96B 6.80B
Sales Growth
+32.17% +20.09% +12.27% +14.17%
Cost of Goods Sold (COGS) incl D&A
1.11B 1.26B 1.26B 1.33B
COGS excluding D&A
- - - -
-
Depreciation & Amortization Expense
104.30M 113.40M 122.80M 152.00M
Depreciation
81.00M 94.50M 99.70M 101.30M
Amortization of Intangibles
23.30M 18.90M 23.10M 50.70M
COGS Growth
+38.27% +13.35% +0.10% +5.69%
Gross Income
3.31B 4.05B 4.70B 5.47B
Gross Income Growth
+30.25% +22.35% +16.05% +16.44%
Gross Profit Margin
+74.91% +76.32% +78.89% +80.46%
2022 2023 2024 2025 5-year trend
SG&A Expense
2.34B 2.81B 2.90B 3.40B
Research & Development
512.40M 613.80M 716.80M 815.50M
Other SG&A
1.83B 2.20B 2.18B 2.58B
SGA Growth
+23.71% +19.96% +3.11% +17.13%
Other Operating Expense
- - - -
-
Unusual Expense
- - (26.40M) (10.80M)
-
EBIT after Unusual Expense
965.00M 1.24B 1.83B 2.09B
Non Operating Income/Expense
8.50M 118.20M 253.30M 217.20M
Non-Operating Interest Income
17.40M 119.70M 155.20M 162.30M
Equity in Earnings of Affiliates
- - - -
-
Interest Expense
18.00M 21.00M 20.00M 20.10M
Interest Expense Growth
+20.81% +16.67% -4.76% +0.50%
Gross Interest Expense
18.00M 21.00M 20.00M 20.10M
Interest Capitalized
- - - -
-
Pretax Income
955.50M 1.33B 2.06B 2.28B
Pretax Income Growth
+52.05% +39.58% +54.35% +10.87%
Pretax Margin
+21.63% +25.14% +34.56% +33.56%
Income Tax
30.80M 143.80M 283.90M 439.10M
Income Tax - Current - Domestic
237.60M 426.20M 470.00M 316.50M
Income Tax - Current - Foreign
18.80M 24.30M 36.80M 54.30M
Income Tax - Deferred - Domestic
(223.20M) (300.00M) (223.10M) 68.70M
Income Tax - Deferred - Foreign
(2.40M) (6.70M) 200.00K (400.00K)
Income Tax Credits
- - - -
-
Equity in Earnings of Affiliates
- - - -
-
Other After Tax Income (Expense)
- - - -
-
Consolidated Net Income
856.60M 1.15B 1.75B 1.85B
Minority Interest Expense
- - - (700.00K)
-
Net Income
857.30M 1.15B 1.75B 1.85B
Net Income Growth
+41.28% +33.89% +52.05% +6.20%
Net Margin Growth
+19.41% +21.64% +29.30% +27.26%
Extraordinaries & Discontinued Operations
- - - -
-
Discontinued Operations
- - - -
-
Net Income After Extraordinaries
857.30M 1.15B 1.75B 1.85B
Preferred Dividends
- - - -
-
Net Income Available to Common
857.30M 1.15B 1.75B 1.85B
EPS (Basic)
1.0833 1.4742 2.2831 2.4451
EPS (Basic) Growth
+45.68% +36.08% +54.87% +7.10%
Basic Shares Outstanding
791.40M 778.60M 764.40M 758.00M
EPS (Diluted)
1.0646 1.4562 2.2609 2.424
EPS (Diluted) Growth
+46.58% +36.78% +55.26% +7.21%
Diluted Shares Outstanding
805.30M 788.20M 771.90M 764.60M
EBITDA
1.07B 1.35B 1.92B 2.23B
EBITDA Growth
+46.44% +26.24% +42.35% +15.86%
EBITDA Margin
+24.21% +25.45% +32.26% +32.74%

Snapshot

Average Recommendation HOLD Average Target Price 148.694
Number of Ratings 47 Current Quarters Estimate 0.939
FY Report Date 12 / 2026 Current Year's Estimate 3.563
Last Quarter’s Earnings 0.91 Median PE on CY Estimate N/A
Year Ago Earnings 2.76 Next Fiscal Year Estimate 3.89
Median PE on Next FY Estimate N/A

Earnings Per Share

This Quarter Next Quarter This Fiscal Next Fiscal
# of Estimates 41 36 43 43
Mean Estimate 0.94 0.86 3.56 3.89
High Estimates 0.99 0.91 3.64 4.14
Low Estimate 0.91 0.77 3.47 3.63
Coefficient of Variance 1.17 3.99 0.63 3.16

Analysts Recommendations

Current 1 Month Ago 3 Months Ago
BUY 6 6 7
OVERWEIGHT 3 3 1
HOLD 32 32 31
UNDERWEIGHT 1 2 2
SELL 5 5 4
MEAN Hold Hold Hold

Insider Actions for Fortinet Inc. - FTNT

Date Name Shares Transaction Value
Nov 4, 2026 Ken Xie President & CEO; Director 52,981,572 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $131.12 per share 6,946,943,720.64
Nov 4, 2026 Christiane Ohlgart Chief Financial Officer 3,007 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Michael Xie VP, Engineering & CTO; Director 9,924,665 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Michael Xie VP, Engineering & CTO; Director 9,923,365 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Michael Xie VP, Engineering & CTO; Director 9,921,123 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 151,470 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 20,478 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 22,788 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 6,260 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 52,972,372 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $133.83 per share 7,089,292,544.76
Nov 4, 2026 Ken Xie President & CEO; Director 52,975,072 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $132.31 per share 7,009,131,776.32
Nov 4, 2026 Ken Xie President & CEO; Director 52,978,632 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00
Nov 4, 2026 Ken Xie President & CEO; Director 53,001,901 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $130.44 per share 6,913,567,966.44
Nov 4, 2026 Ken Xie President & CEO; Director 53,062,068 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $129.51 per share 6,872,068,426.68
Nov 4, 2026 Ken Xie President & CEO; Director 53,075,868 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $128.27 per share 6,808,041,588.36
Nov 4, 2026 Ken Xie President & CEO; Director 53,088,951 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $127.41 per share 6,764,063,246.91
Nov 4, 2026 Ken Xie President & CEO; Director 53,100,867 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $126.17 per share 6,699,736,389.39
Nov 4, 2026 Ken Xie President & CEO; Director 53,133,855 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 Non-derivative transaction at $22.9 per share 1,216,765,279.50
Nov 4, 2026 Ken Xie President & CEO; Director 52,978,855 Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3 Non-derivative transaction at $136.08 per share 7,209,362,588.40
Nov 4, 2026 Ken Xie President & CEO; Director 52,985,466 Exercise or conversion of derivative security exempted pursuant to Rule 16b-3 0.00

Fortinet Inc. in the News