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FTNT | NASDAQ

$181.07 $2.35 | 1.31%
SIGNAL:Signal available — unlock to view |2026-09-23 |F&G 69 |RSI 62.1

Company Overview:

Market Cap: $131.13B
Trailing PE: 63.8x
FWD PE *: 51.6x
Payout Ratio (TTM): —
52-Week Range: $73.55 - $183.00

* Forward PE is based on street estimates.

10 Year FTNT Performance Metrics:

Total Return (with DRIP): 2,350% (37.70% CAGR)
Total Return (no DRIP): 2,350% (37.70% CAGR)
Share Price: 2,350% (37.70% CAGR)
Yield on Cost (with DRIP): —
Total Invested: $10,000
Total Value (with DRIP): $245,020
Total Return $ (with DRIP): $235,020
FTNT Total Return
1M 3M 6M YTD 1Y 3Y 5Y 10Y
FTNT Price Chart
1M 3M 6M YTD 1Y 3Y 5Y 10Y All

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FTNT Fundamentals: Earnings, Revenue, Cash Flow, Ebitda, Cash/Debt, Shares Float, etc:

FTNT - Revenue
FTNT Revenue CAGR:1Y: 25.64%2Y: 19.49%5Y: 20.65%10Y: 20.73%
FTNT - Earnings Per Share (EPS)
FTNT EPS CAGR:1Y: 43.86%2Y: 29.36%5Y: 38.66%10Y: 0.00%
FTNT - Net Income
FTNT Net Income CAGR:1Y: 37.76%2Y: 26.35%5Y: 34.55%10Y: 0.00%
FTNT - EBITDA
FTNT EBITDA CAGR:1Y: 36.52%2Y: 23.37%5Y: 35.34%10Y: 58.18%
FTNT - Free Cash Flow
FTNT Free Cash Flow CAGR:1Y: 239.88%2Y: 74.01%5Y: 19.59%10Y: 33.55%
FTNT - Free Cash Flow / Share
FTNT Free Cash Flow / Share CAGR:1Y: 254.20%2Y: 77.28%5Y: 22.11%10Y: 35.65%
FTNT - Operating Income
FTNT Operating Income CAGR:1Y: 50.93%2Y: 25.56%5Y: 36.12%10Y: 0.00%
FTNT - Gross Profit
FTNT Gross Profit CAGR:1Y: 23.71%2Y: 19.05%5Y: 21.75%10Y: 21.90%
FTNT - Shares Outstanding
FTNT Shares Outstanding CAGR:1Y: -4.32%2Y: -1.87%5Y: -2.36%10Y: -1.48%
FTNT - Share Buybacks
FTNT Share Buybacks CAGR:1Y: -62.65%2Y: 0.00%5Y: 10.34%10Y: 0.00%
FTNT - Stock-Based Comp
FTNT Stock-Based Comp CAGR:1Y: 14.76%2Y: 11.40%5Y: 8.56%10Y: 10.08%
FTNT - Expenses
FTNT Expenses CAGR:1Y: -53.52%2Y: 83.76%5Y: 27.12%10Y: 18.37%
FTNT - Revenue by Segment
FTNT Revenue CAGR:1Y: 25.64%2Y: 19.49%5Y: 20.65%10Y: 20.73%
FTNT - Revenue by Region
FTNT Revenue CAGR:1Y: 25.64%2Y: 19.49%5Y: 20.65%10Y: 20.73%

Revenue, EPS, Net Income & Ebitda - Estimates VS Actual:

FTNT - REVENUE: Actual + Estimates
FTNT Actual Revenue CAGR:1Y: 25.64%2Y: 19.49%5Y: 20.65%10Y: 20.73%
FTNT - EPS: Actual + Estimates
FTNT Actual EPS CAGR:1Y: 43.86%2Y: 29.36%5Y: 38.66%10Y: 0.00%
FTNT - NET INCOME: Actual + Estimates
FTNT Actual Net Income CAGR:1Y: 37.76%2Y: 26.35%5Y: 34.55%10Y: 0.00%
FTNT - EBITDA: Actual + Estimates
FTNT Actual EBITDA CAGR:1Y: 36.52%2Y: 23.37%5Y: 35.34%10Y: 58.18%

Ratios, Profit Margins & Return on Capital:

FTNT - Net Profit Margin
FTNT Net Profit Margin CAGR:1Y: 9.67%2Y: 5.75%5Y: 11.53%10Y: 0.00%
FTNT - Gross Profit Margin
FTNT Gross Profit Margin CAGR:1Y: -1.53%2Y: -0.37%5Y: 0.91%10Y: 0.97%
FTNT - Price to Earnings
FTNT Price to Earnings CAGR:1Y: -0.21%2Y: 24.01%5Y: -8.14%10Y: 0.00%
FTNT - Price To Sales Ratio
FTNT Price To Sales Ratio CAGR:1Y: 10.98%2Y: 31.61%5Y: 2.59%10Y: 12.20%
FTNT - Return on Capital Employed
FTNT Return on Capital Employed CAGR:1Y: 47.07%2Y: 6.47%5Y: 22.55%10Y: 0.00%
FTNT - Return on Invested Capital
FTNT Return on Invested Capital CAGR:1Y: 57.59%2Y: 6.98%5Y: 19.63%10Y: 0.00%

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Projected Future Returns & Dividends for FTNT

Based on past 10-year performance, here are FTNT growth metrics:

Share price CAGR of +37.7%
Dividend CAGR of +0%

Using FTNT CAGR metrics, we can estimate that your initial $10000 investment, over the next 10 years, should grow as follows:

FTNT (DRIP)FTNT - No DRIP
Current Price$181.07$181.07
Start Shares55.2355.23
Start Value$10,000$10,000
  
After 10 years:
Final Share Count55.2355.23
Dividends Payment$0.00$0.00
Annual Dividends$0$0
Yield on cost0.00%0.00%
Share Price$181.07$181.07
Total Dividends$0$0
Final Value$10,000$10,000

Estimated Future Value + Dividends - FTNT

NOTE: Above numbers are our estimate based on FTNT's Dividend and Price CAGR over past 10 years. These numbers should only be considered as "potential future returns"! DRIP assumes reinvesting dividends; No-DRIP assumes collecting dividends as cash.

We cannot guarantee that your actual returns will meet these estimates.

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Company Info

Fortinet, Inc. (FTNT) had its IPO on 2009-11-18, and is traded on NASDAQ stock exchange.

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.

FTNT website: https://www.fortinet.com


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DCF Model — FTNT

Value from:
Pay up to today
—
vs current price $181.07
—
Cash flow & implied price by year

FCF is negative or missing for this company (common for banks) — the model discounts EPS instead.

EPS is negative or missing for this company — Simple mode uses free cash flow per share instead.

Free cash flow today
—
grows for the next years
Then mature
—
every future dollar counted back to today
Pile of today-dollars
—
÷ shares
Implied price path
YearFCFImplied price
Sensitivity — fair value: growth ↓ × target return →