Fortinet, Inc. (NASDAQ: FTNT) is a Technology company in the Software - Infrastructure industry. QuoTrend tracks its price, financials, earnings, analyst ratings and insider trades.
| Index | S&P 500, NDX | P/E | 55.36 | EPS (ttm) | 2.84 | Insider Own | 10.86% | Shs Outstand | 733.71M | Perf Week | -2.86% |
| Market Cap | 115.35B | Forward P/E | 41.64 | EPS next Y | 3.78 | Insider Trans | -0.61% | Shs Float | 618.55M | Perf Month | -4.26% |
| Enterprise Value | 111.78B | PEG | 24.60 | EPS next Q | 0.85 | Inst Own | 87.35% | Short Float | 2.30% | Perf Quarter | 13.61% |
| Income | 2.12B | P/S | 15.32 | EPS this Y | 21.47% | Inst Trans | 0.00% | Short Ratio | 2.38 | Perf Half Y | 86.72% |
| Sales | 7.53B | P/B | 74.37 | EPS next Y | 9.44% | ROA | 19.53% | Short Interest | 14.20M | Perf YTD | 97.99% |
| Book/sh | 2.11 | P/C | 28.34 | EPS next 5Y | 2.25% | ROE | 187.95% | 52W High | 173.90 -9.59% | Perf Year | 95.64% |
| Cash/sh | 5.55 | P/FCF | 36.79 | EPS past 3/5Y | 31.86% 33.18% | ROIC | 32.78% | 52W Low | 73.55 113.76% | Perf 3Y | 158.29% |
| Dividend Est. | - | EV/EBITDA | 38.63 | Sales past 3/5Y | 15.47% 21.26% | Gross Margin | 80.38% | Volatility | 3.50% 3.87% | Perf 5Y | 149.44% |
| Dividend TTM | - | EV/Sales | 14.85 | EPS Y/Y TTM | 25.66% | Oper. Margin | 32.43% | ATR (14) | 6.65 | Perf 10Y | 2105.05% |
| Dividend Ex-Date | - | Quick Ratio | 1.19 | Sales Y/Y TTM | 26.39% | Profit Margin | 28.17% | RSI (14) | 48.69 | Recom | 2.66 |
| Dividend Gr. 3/5Y | - | Current Ratio | 1.28 | EPS Q/Q | 40.63% | SMA20 | -0.93% | Beta | 1.03 | Target Price | 159.39 |
| Payout | 0.00% | Debt/Eq | 0.81 | Sales Q/Q | 25.64% | SMA50 | -1.08% | Rel Volume | 0.52 | Prev Close | 157.47 |
| Employees | 15,472 | LT Debt/Eq | 0.40 | Earnings | Nov 04 | SMA200 | 41.86% | Avg Volume | 5.39M | Price | 157.22 |
| IPO Date | Nov 18, 2009 | Option/Short | Yes / Yes | EPS/Sales Surpr. | 20.58% 8.44% | Net Debt/EBITDA | -0.84 | Volume | 2,784,205 | Change | -0.16% |
| Date | Action | Analyst | Rating | Target |
|---|---|---|---|---|
| Jul-31-26 | Reiterated | Susquehanna | Neutral | $115 → $160 |
| Jul-30-26 | Reiterated | Robert W. Baird | $140 → $165 | |
| Jul-30-26 | Reiterated | Deutsche Bank | Hold | $100 → $160 |
| Jul-30-26 | Reiterated | UBS | Neutral | $115 → $180 |
| Jul-30-26 | Reiterated | Scotiabank | Sector Perform | $85 → $163 |
| Jul-30-26 | Reiterated | Stifel Nicolaus | Hold | $102 → $175 |
| Jul-30-26 | Reiterated | Goldman Sachs | Buy | $116 → $190 |
| Jul-30-26 | Reiterated | Wolfe Research | $175 | |
| Jul-30-26 | Reiterated | RBC Capital | Sector Perform | $160 → $185 |
| Jul-30-26 | Reiterated | Piper Sandler | Neutral | $90 → $175 |
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.
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| Line Item (USD, M) | TTM — | FY 2025 12/31/2025 | FY 2024 12/31/2024 | FY 2023 12/31/2023 | FY 2022 12/31/2022 | FY 2021 12/31/2021 | FY 2020 12/31/2020 | FY 2019 12/31/2019 | FY 2018 12/31/2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 7,528 | 6,800 | 5,956 | — | — | — | — | — | — | |
| Cost of Goods Sold Incl. D&A | 1,478 | 1,303 | 1,158 | — | — | — | — | — | — | |
| Gross Profit | 6,050 | 5,497 | 4,798 | — | — | — | — | — | — | |
| Selling, General and Administrative Excl. Other | 2,755 | 2,581 | 2,283 | — | — | — | — | — | — | |
| Research and Development | 846 | 816 | 717 | — | — | — | — | — | — | |
| Other Operating Expense | 12 | 19 | -5 | — | — | — | — | — | — | |
| Operating Income | 2,441 | 2,082 | 1,803 | — | — | — | — | — | — | |
| Interest Expense | 17 | 20 | 20 | — | — | — | — | — | — | |
| Unusual Expense | — | — | — | — | — | — | — | — | — | |
| Non-Operating Income (Expense) | 200 | 231 | 246 | — | — | — | — | — | — | |
| Net Income Before Taxes | 2,623 | 2,292 | 2,029 | — | — | — | — | — | — | |
| Income Taxes | 503 | 439 | 284 | — | — | — | — | — | — | |
| Consolidated Net Income | 2,121 | 1,853 | 1,745 | — | — | — | — | — | — | |
| Net Income From Continuing Operations | 2,120 | 1,853 | 1,745 | — | — | — | — | — | — | |
| Net Income | 2,121 | 1,853 | 1,745 | — | — | — | — | — | — | |
| EPS (Recurring) | 2.86 | 2.44 | 2.28 | — | — | — | — | — | — | |
| EPS (Basic, Before Extraordinaries) | 2.86 | 2.44 | 2.28 | — | — | — | — | — | — | |
| EPS (Diluted) | 2.84 | 2.43 | 2.26 | — | — | — | — | — | — | |
| EBITDA | 2,894 | 2,465 | 2,201 | — | — | — | — | — | — | |
| Other After Tax Adjustments | — | — | — | — | — | — | — | — | — | |
| Stock Option Compensation Expense | — | — | — | — | — | — | — | — | — | |
| Price To Earnings Ratio | 55.36 | 32.68 | 41.81 | — | — | — | — | — | — | |
| Price To Sales Ratio | 15.37 | 8.68 | 12.12 | — | — | — | — | — | — | |
| Gross Margin | 80.37 | 80.84 | 80.56 | — | — | — | — | — | — | |
| Operating Margin | 32.43 | 30.62 | 30.27 | — | — | — | — | — | — | |
| Net Margin | 28.17 | 27.25 | 29.30 | — | — | — | — | — | — | |
| Shares Outstanding | 736 | 743 | 764 | — | — | — | — | — | — | |
| Market Capitalization | 115,714 | 59,002 | 72,183 | — | — | — | — | — | — | |
| Operating Lease Expense | — | — | — | — | — | — | — | — | — |
| Insider | Relationship | Date | Transaction | Cost | #Shares | Value ($) | #Shares Total | SEC Form 4 |
|---|---|---|---|---|---|---|---|---|
| Ohlgart Christiane | Chief Financial Officer | Aug 04 '26 | Sale | 164.59 | 387 | 63,696 | 10,393 | Aug 04 |
| Xie Michael | VP, ENGINEERING & CTO | Aug 03 '26 | Sale | 162.63 | 3,121 | 507,574 | 9,918,360 | Aug 04 |
| Xie Ken | PRESIDENT & CEO | Aug 03 '26 | Option Exercise | 22.90 | 155,000 | 3,549,500 | 53,133,854 | Aug 04 |
| Xie Ken | PRESIDENT & CEO | Aug 03 '26 | Sale | 162.66 | 161,482 | 26,266,877 | 52,972,372 | Aug 04 |
| Ohlgart Christiane | Chief Financial Officer | Aug 01 '26 | Option Exercise | 0.00 | 1,634 | 0 | 11,361 | Aug 04 |
| Whittle John | CHIEF OPERATING OFFICER | Aug 01 '26 | Option Exercise | 0.00 | 4,573 | 0 | 99,297 | Aug 04 |
| Xie Ken | PRESIDENT & CEO | Aug 01 '26 | Option Exercise | 0.00 | 13,093 | 0 | 52,985,465 | Aug 04 |
| Xie Michael | VP, ENGINEERING & CTO | Aug 01 '26 | Option Exercise | 0.00 | 6,306 | 0 | 9,924,666 | Aug 04 |
| Hsieh Ming | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 9,597 | Jun 12 |
| Napolitano Janet | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 4,274 | Jun 12 |
| Sim Judith | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 129,542 | Jun 12 |
| STAVRIDIS JAMES G. | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 17,189 | Jun 12 |
| Hu Jean X. | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 39,049 | Jun 12 |
| GOLDMAN KENNETH A | Director | Jun 11 '26 | Option Exercise | 0.00 | 650 | 0 | 23,469 | Jun 12 |
| Xie Michael | VP, ENGINEERING & CTO | Jun 03 '26 | Sale | 146.44 | 3,907 | 572,145 | 9,923,610 | Jun 03 |