FTNTNASDAQ— Fortinet, Inc. Price & Analysis

Fortinet, Inc.

TECHNOLOGY — SOFTWARE - INFRASTRUCTURE

$129.39

+$1.28+1.00%

Market Cap: $94.88B; Large Cap
P/E Ratio: 42.43; Fwd: 33.29
EPS (TTM): $3.05
Div. Yield: N/A

Technical Summary

RSI (14)26.59Oversold

SMA (50)$169.84Bearish

SMA (200)$129.17Bullish

MACD-11.3035Bearish

Bollinger$123.47 – $213.87Mid

Stochastic3.88Oversold

Theo Outlook

Fortinet, Inc. provides unified cybersecurity solutions centered on its FortiGate platform, which delivers firewall, intrusion prevention, VPN, and related security functions, along with additional tools for network switching, wireless access, web application firewalls, endpoint protection, and multi-factor authentication. For the twelve months ended September 30, 2026, the company reported revenue of $7.88 billion, a profit margin of 28.96%, earnings per share of $3.05, and a market value of $94.88 billion.

Bull case: quarterly revenue grew 20.49% year over year and quarterly earnings grew 22.97% year over year through September 30, 2026, while the operating margin reached 32.98% and return on equity stood at 151.52% for the trailing twelve months. Bear case: the trailing price-to-earnings ratio was 42.43 and the forward price-to-earnings ratio was 33.29 as of the latest data, with a price-to-sales ratio of 12.17 and an enterprise value to EBITDA multiple of 30.79.

Main risks include exposure to competition in the cybersecurity sector and sensitivity to changes in IT spending. Analysis generated by HeyTheo AI from company and market data. It may be incomplete or inaccurate.

Analysis generated by HeyTheo AI on Nov 4, 2026.

Company Overview

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.

Fundamental Snapshot

Revenue: $7.88B
EBITDA: $2.96B
Gross Profit: $6.29B
Operating Margin: 33.0%
Profit Margin: 29.0%
ROE: 151.5%
Book Value: $3.03
Beta: 1.04
52-Wk High: $197.13
52-Wk Low: $73.55
Volume: 5.76M
PEG Ratio: 3.05

Frequently Asked Questions

What does Fortinet do?

Fortinet, Inc. delivers cybersecurity solutions including the FortiGate platform for firewall, intrusion prevention, VPN, and related functions, plus tools for network switching, wireless access, web application firewalls, endpoint protection, and multi-factor authentication. The company serves sectors such as telecommunications, government, financial services, and healthcare across the Americas, Europe, the Middle East, Africa, and Asia Pacific.

Where does Fortinet's revenue come from?

For the twelve months ended September 30, 2026, Fortinet reported total revenue of $7.88 billion. The company generates revenue from security subscriptions, technical support, professional services, training programs, and sales of hardware and software licenses for its FortiGate and other security products.

How does Fortinet compete?

Fortinet competes through its integrated FortiGate platform that combines multiple security and networking functions in a single appliance. It also offers specialized products such as FortiSwitch, FortiAP, FortiWeb, FortiMail, FortiClient, and FortiEDR, distributed directly and through channel partners.

What are the main risks for Fortinet?

Fortinet faces risks from competition in the cybersecurity industry and potential shifts in IT spending by customers. Its trailing twelve months return on equity of 151.52% and operating margin of 32.98% as of September 30, 2026, reflect strong performance but also highlight dependence on continued growth in demand for its solutions.

How is Fortinet valued?

As of the latest data, Fortinet trades at a trailing price-to-earnings ratio of 42.43, a forward price-to-earnings ratio of 33.29, a price-to-sales ratio of 12.17, a price-to-book ratio of 42.71, an enterprise value to revenue multiple of 11.55, and an enterprise value to EBITDA multiple of 30.79. The company reported earnings per share of $3.05 and revenue per share of $10.73 for the trailing twelve months ended September 30, 2026.