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NASDAQ · Software - Infrastructure · USD

Fortinet, Inc. (FTNT) Stock Analysis

Fortinet, Inc. (FTNT) is a Software - Infrastructure stock listed on NASDAQ and quoted in US Dollar.

Last Updated: October 21, 2026

FTNT

$174.05

+$3.12 (+1.83%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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FTNT Key Statistics

As of Oct 21, 2026
Trading
Open
$166.27
Previous Close
$170.93
Day's Range
166.22–175.34
52-Week Range
73.55–197.13
Volume
3.06M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
1.04
Valuation
Market Cap
$127.70B
P/E Ratio
61.50
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
45.91
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
1.88
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
16.97
EPS (ttm)Profit attributable to each share over the last twelve months.
2.83
Financials (FY)
Revenue (FY)
$6.80B+14.17%
Net Income (FY)
$1.85B+6.20%
Profit marginThe share of revenue left as profit after all costs and taxes.
28.17%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
733.71M
1-Year Return
+105.30%
Dividend and dates
Earnings Date
October 28, 2026
Avg Volume
4.50M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, FTNT closed at $174.05, +105.30% over 1 year.

Fortinet, Inc. (FTNT) has a market capitalization of $127.70B.

In fiscal 2025, FTNT reported revenue of $6.80B.

FTNT Stock Return by Calendar Year

Fortinet, Inc. (FTNT) 10-year return: what $10,000 became

1 year
$10,000 $20,530
+105.30%
5 years
$10,000 $26,029
+160.29%
10 years
$10,000 $273,664
+2,636.64%

If you had invested $10,000 in Fortinet, Inc. (FTNT) 10 years ago, at the close on October 21, 2016, it would have been worth $273,664 at the close on October 21, 2026: +2,636.64% in total, +39.23% a year. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+119.18%
2025−15.95%
2024+61.42%
2023+19.72%
2022−31.98%
2021+141.97%
2020+39.13%
2019+51.58%
2018+61.20%
2017+45.05%
2016 (partial year)−9.71%

As of October 21, 2026.

FTNT Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$6.80B$1.85B27.3%
2024$5.96B$1.75B29.3%
2023$5.30B$1.15B21.6%
2022$4.42B$857.30M19.4%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$6.80B$5.47B$2.08B$1.85B27.3%
2024$5.96B$4.80B$1.80B$1.75B29.3%
2023$5.30B$4.07B$1.24B$1.15B21.6%
2022$4.42B$3.33B$969.60M$857.30M19.4%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

FTNT Valuation vs Software - Infrastructure Median

Median of 182 stocks
MetricFTNTSoftware - Infrastructure medianvs median
P/E61.5030.17104% above
P/S ratio16.973.275.2x the median
Profit margin28.17%2.53%25.6 pts above

Medians across 182 Software - Infrastructure stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Recent News

All 20 articles ↓

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

Fortinet, Inc. (FTNT) carries a market capitalisation of $127.70B. The company sits in the Technology sector, in the Software - Infrastructure industry. The company reports 15,472 employees.

Over the past 52 weeks the price has ranged from $73.55 to $197.13. FTNT last closed at $174.05 on October 21, 2026. That is +$3.12 (+1.83%) against the previous close. The latest close sits 136.64% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of $6.80B. That is +14.17% against the prior fiscal year, when revenue was $5.96B. The same year closed with net income of $1.85B. That is +6.20% against the prior fiscal year. The reported profit margin is 28.17%. That is 25.6 percentage points above the Software - Infrastructure median of 2.53%. Trailing earnings per share are 2.83.

Across the 4 fiscal years on file, revenue moves from $4.42B in 2022 to $6.80B in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

On trailing earnings, the shares are priced at 61.5 times earnings. That is 103.88% above the Software - Infrastructure median of 30.17. On forward earnings the ratio is 45.91. The PEG ratio, which sets the P/E against expected earnings growth, reads 1.88. Measured against sales, the shares trade at 16.97 times revenue. On price-to-sales that is 5.2 times the Software - Infrastructure median of 3.27. The medians here are taken across 182 Software - Infrastructure companies that report the metric.

The reported beta is 1.04. Annualized volatility over the trailing 10 years is 41.17%. The trailing one-year total return is +105.30%. Measured over 10 years, that is +39.23% a year compounded.

Growth & Income

The record shows no dividend for FTNT.

The strongest complete calendar year on file is 2021 at +141.97%; the weakest is 2022 at −31.98%. Of the 9 complete calendar years on file, 7 finished higher. So far in 2026 the total return is +119.18%.

Peer Comparison

Fortinet, Inc. (FTNT) operates in the Software - Infrastructure industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Fortinet, Inc. FTNT $127.70B 61.5
Microsoft Corporation MSFT $3.96T 29.7
Palantir Technologies Inc. PLTR $484.74B 173.9
Oracle Corporation ORCL $391.46B 20.2

The Software - Infrastructure industry average P/E ratio is 30.2x. Fortinet, Inc. trades at a P/E of 61.5.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Fortinet, Inc.

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

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