86.3 USD
+0.37 (+0.43%)
Last: Feb 10, 2026, 09:59 AM
Overall FTNT gets a fundamental rating of 7 out of 10. We evaluated FTNT against 277 industry peers in the Software industry. Both the health and profitability get an excellent rating, making FTNT a very profitable company, without any liquidiy or solvency issues. FTNT is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! With these ratings, FTNT could be worth investigating further for growth and quality investing!.
1. Profitability
1.1 Basic Checks
- FTNT had positive earnings in the past year.
- In the past year FTNT had a positive cash flow from operations.
- FTNT had positive earnings in each of the past 5 years.
- In the past 5 years FTNT always reported a positive cash flow from operatings.
1.2 Ratios
- FTNT's Return On Assets of 17.84% is amongst the best of the industry. FTNT outperforms 93.50% of its industry peers.
- Looking at the Return On Equity, with a value of 149.77%, FTNT belongs to the top of the industry, outperforming 99.28% of the companies in the same industry.
- The Return On Invested Capital of FTNT (32.34%) is better than 97.83% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for FTNT is significantly above the industry average of 10.91%.
- The 3 year average ROIC (29.46%) for FTNT is below the current ROIC(32.34%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 17.84% | ||
| ROE | 149.77% | ||
| ROIC | 32.34% |
ROA(3y)17.18%
ROA(5y)15.11%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)29.46%
ROIC(5y)25.79%
1.3 Margins
- FTNT has a better Profit Margin (27.26%) than 88.09% of its industry peers.
- In the last couple of years the Profit Margin of FTNT has grown nicely.
- Looking at the Operating Margin, with a value of 30.51%, FTNT belongs to the top of the industry, outperforming 92.42% of the companies in the same industry.
- FTNT's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 80.46%, FTNT belongs to the top of the industry, outperforming 81.59% of the companies in the same industry.
- FTNT's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30.51% | ||
| PM (TTM) | 27.26% | ||
| GM | 80.46% |
OM growth 3Y11.77%
OM growth 5Y9.99%
PM growth 3Y11.99%
PM growth 5Y7.68%
GM growth 3Y2.17%
GM growth 5Y0.61%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so FTNT is creating value.
- Compared to 1 year ago, FTNT has less shares outstanding
- The number of shares outstanding for FTNT has been reduced compared to 5 years ago.
- Compared to 1 year ago, FTNT has an improved debt to assets ratio.
2.2 Solvency
- FTNT has an Altman-Z score of 5.53. This indicates that FTNT is financially healthy and has little risk of bankruptcy at the moment.
- FTNT has a Altman-Z score of 5.53. This is in the better half of the industry: FTNT outperforms 79.78% of its industry peers.
- FTNT has a debt to FCF ratio of 0.45. This is a very positive value and a sign of high solvency as it would only need 0.45 years to pay back of all of its debts.
- FTNT has a better Debt to FCF ratio (0.45) than 78.70% of its industry peers.
- A Debt/Equity ratio of 0.40 indicates that FTNT is not too dependend on debt financing.
- FTNT's Debt to Equity ratio of 0.40 is on the low side compared to the rest of the industry. FTNT is outperformed by 62.82% of its industry peers.
- Although FTNT does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.4 | ||
| Debt/FCF | 0.45 | ||
| Altman-Z | 5.53 |
ROIC/WACC2.9
WACC11.16%
2.3 Liquidity
- A Current Ratio of 1.17 indicates that FTNT should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.17, FTNT is doing worse than 68.23% of the companies in the same industry.
- FTNT has a Quick Ratio of 1.09. This is a normal value and indicates that FTNT is financially healthy and should not expect problems in meeting its short term obligations.
- With a Quick ratio value of 1.09, FTNT is not doing good in the industry: 70.04% of the companies in the same industry are doing better.
- FTNT does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.09 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an nice 16.88% over the past year.
- The Earnings Per Share has been growing by 32.75% on average over the past years. This is a very strong growth
- The Revenue has grown by 14.17% in the past year. This is quite good.
- Measured over the past years, FTNT shows a very strong growth in Revenue. The Revenue has been growing by 21.25% on average per year.
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
Revenue 1Y (TTM)14.17%
Revenue growth 3Y15.46%
Revenue growth 5Y21.25%
Sales Q2Q%14.75%
3.2 Future
- Based on estimates for the next years, FTNT will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.21% on average per year.
- The Revenue is expected to grow by 10.73% on average over the next years. This is quite good.
EPS Next Y8.21%
EPS Next 2Y9.75%
EPS Next 3Y6.12%
EPS Next 5Y10.21%
Revenue Next Year11.18%
Revenue Next 2Y10.92%
Revenue Next 3Y13.32%
Revenue Next 5Y10.73%
3.3 Evolution
- Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
- Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 31.16, the valuation of FTNT can be described as expensive.
- FTNT's Price/Earnings is on the same level as the industry average.
- FTNT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.06, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 28.79, the valuation of FTNT can be described as expensive.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of FTNT is on the same level as its industry peers.
- Compared to an average S&P500 Price/Forward Earnings ratio of 27.86, FTNT is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.16 | ||
| Fwd PE | 28.79 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FTNT is valued a bit cheaper than the industry average as 68.23% of the companies are valued more expensively.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of FTNT indicates a somewhat cheap valuation: FTNT is cheaper than 65.34% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.83 | ||
| EV/EBITDA | 27.05 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- FTNT has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)3.79
PEG (5Y)0.95
EPS Next 2Y9.75%
EPS Next 3Y6.12%
5. Dividend
5.1 Amount
- No dividends for FTNT!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
NASDAQ:FTNT (2/10/2026, 9:59:07 AM)
86.3
+0.37 (+0.43%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-05 2026-02-05/amc
Earnings (Next)05-05 2026-05-05/amc
Inst Owners70.81%
Inst Owner Change-2.51%
Ins Owners17.34%
Ins Owner Change-0.39%
Market Cap64.18B
Revenue(TTM)6.80B
Net Income(TTM)1.85B
Analysts67.35
Price Target89.73 (3.97%)
Short Float %3.27%
Short Ratio3.4
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11%
Min EPS beat(2)7.16%
Max EPS beat(2)14.84%
EPS beat(4)4
Avg EPS beat(4)8.7%
Min EPS beat(4)6.18%
Max EPS beat(4)14.84%
EPS beat(8)8
Avg EPS beat(8)15.03%
EPS beat(12)12
Avg EPS beat(12)14.29%
EPS beat(16)16
Avg EPS beat(16)14.02%
Revenue beat(2)1
Avg Revenue beat(2)-0.17%
Min Revenue beat(2)-0.75%
Max Revenue beat(2)0.42%
Revenue beat(4)1
Avg Revenue beat(4)-0.99%
Min Revenue beat(4)-1.99%
Max Revenue beat(4)0.42%
Revenue beat(8)3
Avg Revenue beat(8)-0.33%
Revenue beat(12)4
Avg Revenue beat(12)-0.57%
Revenue beat(16)6
Avg Revenue beat(16)-0.32%
PT rev (1m)1.14%
PT rev (3m)-1.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)4.58%
EPS NY rev (1m)0.17%
EPS NY rev (3m)5.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.51%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.16 | ||
| Fwd PE | 28.79 | ||
| P/S | 9.44 | ||
| P/FCF | 28.83 | ||
| P/OCF | 24.77 | ||
| P/B | 51.86 | ||
| P/tB | 72.7 | ||
| EV/EBITDA | 27.05 |
EPS(TTM)2.77
EY3.21%
EPS(NY)3
Fwd EY3.47%
FCF(TTM)2.99
FCFY3.47%
OCF(TTM)3.48
OCFY4.04%
SpS9.14
BVpS1.66
TBVpS1.19
PEG (NY)3.79
PEG (5Y)0.95
Graham Number10.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 17.84% | ||
| ROE | 149.77% | ||
| ROCE | 38.73% | ||
| ROIC | 32.34% | ||
| ROICexc | 97.69% | ||
| ROICexgc | 122.12% | ||
| OM | 30.51% | ||
| PM (TTM) | 27.26% | ||
| GM | 80.46% | ||
| FCFM | 32.73% |
ROA(3y)17.18%
ROA(5y)15.11%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)29.46%
ROIC(5y)25.79%
ROICexc(3y)95.09%
ROICexc(5y)84.5%
ROICexgc(3y)117.15%
ROICexgc(5y)104.17%
ROCE(3y)35.29%
ROCE(5y)30.89%
ROICexgc growth 3Y4.58%
ROICexgc growth 5Y-5.51%
ROICexc growth 3Y4.41%
ROICexc growth 5Y-2.11%
OM growth 3Y11.77%
OM growth 5Y9.99%
PM growth 3Y11.99%
PM growth 5Y7.68%
GM growth 3Y2.17%
GM growth 5Y0.61%
F-Score6
Asset Turnover0.65
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.4 | ||
| Debt/FCF | 0.45 | ||
| Debt/EBITDA | 0.22 | ||
| Cap/Depr | 240% | ||
| Cap/Sales | 5.37% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 116.36% | ||
| Profit Quality | 120.09% | ||
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.09 | ||
| Altman-Z | 5.53 |
F-Score6
WACC11.16%
ROIC/WACC2.9
Cap/Depr(3y)242.84%
Cap/Depr(5y)269.75%
Cap/Sales(3y)5.19%
Cap/Sales(5y)6.16%
Profit Quality(3y)126.21%
Profit Quality(5y)149.21%
High Growth Momentum
Growth
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
EPS Next Y8.21%
EPS Next 2Y9.75%
EPS Next 3Y6.12%
EPS Next 5Y10.21%
Revenue 1Y (TTM)14.17%
Revenue growth 3Y15.46%
Revenue growth 5Y21.25%
Sales Q2Q%14.75%
Revenue Next Year11.18%
Revenue Next 2Y10.92%
Revenue Next 3Y13.32%
Revenue Next 5Y10.73%
EBIT growth 1Y14.11%
EBIT growth 3Y29.06%
EBIT growth 5Y33.37%
EBIT Next Year16.05%
EBIT Next 3Y18%
EBIT Next 5Y18.43%
FCF growth 1Y18.44%
FCF growth 3Y15.37%
FCF growth 5Y18.37%
OCF growth 1Y14.72%
OCF growth 3Y14.39%
OCF growth 5Y19.04%
FORTINET INC / FTNT FAQ
What is the ChartMill fundamental rating of FORTINET INC (FTNT) stock?
ChartMill assigns a fundamental rating of 7 / 10 to FTNT.
What is the valuation status of FORTINET INC (FTNT) stock?
ChartMill assigns a valuation rating of 4 / 10 to FORTINET INC (FTNT). This can be considered as Fairly Valued.
How profitable is FORTINET INC (FTNT) stock?
FORTINET INC (FTNT) has a profitability rating of 9 / 10.
What is the financial health of FORTINET INC (FTNT) stock?
The financial health rating of FORTINET INC (FTNT) is 8 / 10.