NASDAQ: FTNT
Fortinet, Inc.
Technology · Software - Infrastructure
After hours: $143.79(-0.24%) · as of 7:57 PM ET
Market Cap
$105.60B
52w High
$150.07
52w Low
$70.12
P/E
54.78
Volume
7.65M
Outstanding Shares
732.65M
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 40.1% over the last year. Revenue grew 15.75% over the trailing twelve months. Operating margin moved from 31.52% to 31.06%. Free cash flow grew 17.8% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (95th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 31.06% — continued expansion would be needed to justify the premium. Revenue growth of 15.75% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
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.
Valuation
Stock splits
Every 1 shares became 5
Every 1 shares became 2
Profitability & growth
Analyst consensus
30
Buy
32
Hold
6
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 5, 2026
Q3 FY26 · EPS est $0.74 · Revenue est $1.89B
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