NASDAQ: FTNT
Fortinet, Inc.
Technology · Software - Infrastructure
After hours: $153.80(+0.62%) · as of 7:58 PM ET
Market Cap
$112.15B
52w High
$172.09
52w Low
$73.55
P/E
53.43
Volume
3.81M
Outstanding Shares
733.71M
Performance
Return analysis
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 95.74% over the last year. Revenue grew 18.77% over the trailing twelve months. Operating margin moved from 30.85% to 32.43%. Free cash flow grew 53.34% 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 (83rd 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 32.43% — continued expansion would be needed to justify the premium. Revenue growth of 18.77% 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
29
Buy
33
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
Nov 4, 2026
Q4 FY26 · EPS est $0.85 · Revenue est $2.06B
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