Fortinet (FTNT) Stock Price

Fortinet Price

NASDAQ·CLOSED
160.01USD-5.43 (-3.34 %)
Market closed

Revenue has compounded at 23.5% per year over the past 19 years to 6.80 B USD. Earnings per share have grown at 37.4% per year over the last 17 years. Fortinet's net margin stands at 27.3%, up from 18.2% several years earlier. Analysts set a median price target of 88.74 USD, implying 44.5% below the current price. Of 50 analysts, 18 rate the stock a buy — an overall Hold consensus. The stock trades about 113% above its 52-week low.

Fortinet stock price

Volume
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of Fortinet over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Fortinet stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Fortinet's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Fortinet Stock Price History
DateFortinet Price
8/14/2026160.01 USD
8/13/2026165.44 USD
8/12/2026160.84 USD
8/11/2026161.89 USD
8/10/2026163.96 USD
8/7/2026159.64 USD
8/6/2026160.11 USD
8/5/2026165.86 USD
8/4/2026165.84 USD
8/3/2026163.21 USD
7/31/2026161.95 USD
7/30/2026154.25 USD
7/29/2026146.03 USD
7/27/2026153.83 USD
7/23/2026151.54 USD
7/22/2026155.05 USD
7/21/2026158.10 USD
7/20/2026160.36 USD
7/17/2026161.61 USD
7/16/2026160.78 USD
7/15/2026164.51 USD
7/14/2026166.83 USD
7/13/2026161.66 USD
7/10/2026157.51 USD
7/9/2026163.73 USD
7/8/2026158.41 USD
7/7/2026158.67 USD
7/6/2026162.05 USD
7/2/2026156.25 USD
7/1/2026158.98 USD
6/30/2026153.62 USD
6/29/2026156.95 USD
6/26/2026151.35 USD
6/25/2026149.93 USD
6/24/2026145.28 USD
6/23/2026148.00 USD
6/22/2026146.00 USD
6/18/2026145.16 USD
6/17/2026146.71 USD
6/16/2026146.07 USD
6/15/2026148.16 USD
6/12/2026145.35 USD
6/11/2026142.33 USD
6/10/2026139.43 USD
6/9/2026138.39 USD
6/8/2026143.04 USD
6/5/2026148.04 USD
6/4/2026148.51 USD
6/3/2026147.80 USD
6/2/2026144.44 USD
6/1/2026144.35 USD
5/29/2026134.09 USD
5/28/2026128.67 USD
5/27/2026127.82 USD
5/26/2026133.79 USD
5/22/2026132.72 USD
5/21/2026128.60 USD
5/20/2026127.78 USD
5/19/2026127.64 USD
5/18/2026126.50 USD
5/15/2026122.78 USD
5/14/2026121.86 USD
5/13/2026117.69 USD
5/12/2026113.87 USD
5/11/2026115.44 USD
5/8/2026114.07 USD
5/7/2026107.97 USD
5/6/202689.95 USD
5/5/202689.92 USD
5/4/202689.24 USD
5/1/202686.29 USD
4/30/202684.31 USD
4/29/202686.11 USD
4/28/202685.72 USD
4/27/202685.67 USD
4/24/202684.34 USD
4/23/202682.76 USD
4/22/202687.09 USD
4/21/202685.26 USD
4/20/202682.60 USD
4/17/202681.84 USD
4/16/202682.40 USD
4/15/202679.64 USD
4/14/202678.70 USD
4/13/202678.74 USD
4/10/202676.70 USD
4/9/202680.66 USD
4/8/202683.51 USD
4/7/202683.72 USD
4/6/202682.29 USD
4/2/202682.76 USD
4/1/202681.15 USD
3/31/202681.72 USD
3/30/202679.05 USD
3/27/202678.02 USD
3/26/202681.09 USD
3/25/202678.51 USD
3/24/202679.85 USD
3/23/202682.77 USD
3/20/202681.97 USD
3/19/202683.12 USD
3/18/202683.12 USD
3/17/202683.16 USD
3/16/202684.17 USD
3/13/202683.44 USD
3/12/202684.40 USD
3/11/202683.31 USD
3/10/202684.20 USD
3/9/202683.81 USD
3/6/202683.51 USD
3/5/202684.42 USD
3/4/202682.79 USD
3/3/202681.10 USD
3/2/202679.18 USD
2/27/202679.03 USD
2/26/202679.20 USD
2/25/202677.35 USD
2/24/202675.23 USD
2/23/202676.29 USD
2/20/202679.71 USD
2/19/202681.67 USD
2/18/202680.42 USD
2/17/202681.50 USD
2/13/202685.53 USD
2/12/202684.37 USD
2/11/202687.82 USD
2/10/202685.53 USD
2/9/202685.94 USD
2/6/202682.57 USD
2/5/202683.01 USD
2/4/202681.12 USD
2/3/202679.30 USD
2/2/202681.29 USD
1/30/202681.02 USD
1/29/202680.41 USD
1/28/202681.51 USD
1/27/202681.72 USD
1/26/202683.07 USD
1/23/202681.47 USD
1/22/202677.63 USD
1/21/202675.75 USD
1/20/202675.47 USD
1/16/202675.37 USD
1/15/202676.35 USD
1/14/202676.51 USD
1/13/202678.33 USD
1/12/202678.70 USD
1/9/202679.24 USD
1/8/202678.16 USD
1/7/202680.02 USD
1/6/202678.44 USD
1/5/202678.01 USD
1/2/202677.81 USD
12/31/202579.41 USD
12/30/202580.51 USD
12/29/202580.82 USD
12/26/202581.56 USD
12/24/202581.18 USD
12/23/202580.56 USD
12/22/202581.74 USD
12/19/202580.24 USD
12/18/202579.75 USD
12/17/202579.46 USD
12/16/202582.47 USD
12/15/202581.57 USD
12/12/202581.89 USD
12/11/202582.47 USD
12/10/202581.81 USD
12/9/202583.50 USD
12/8/202583.53 USD
12/5/202586.90 USD
12/4/202585.13 USD
12/3/202582.76 USD
12/2/202582.94 USD
12/1/202581.82 USD
11/28/202581.13 USD
11/26/202580.55 USD
11/25/202580.87 USD
11/24/202579.77 USD
11/21/202578.86 USD
11/20/202577.52 USD
11/19/202579.17 USD
11/18/202580.15 USD
11/17/202582.01 USD
11/14/202582.11 USD
11/13/202581.09 USD
11/12/202582.14 USD
11/11/202583.66 USD
11/10/202582.28 USD
11/7/202581.79 USD
11/6/202580.54 USD
11/5/202577.51 USD
11/4/202585.21 USD
11/3/202587.45 USD
10/31/202586.22 USD
10/30/202584.01 USD
10/29/202584.23 USD
10/28/202585.87 USD
10/27/202585.23 USD
10/24/202585.51 USD
10/23/202584.93 USD
10/22/202584.02 USD
10/21/202584.78 USD
10/20/202584.86 USD
10/17/202583.45 USD
10/16/202582.35 USD
10/15/202583.58 USD
10/14/202583.19 USD
10/13/202585.01 USD
10/10/202582.96 USD
10/9/202586.08 USD
10/8/202586.46 USD
10/7/202584.92 USD
10/6/202586.38 USD
10/3/202585.63 USD
10/2/202586.30 USD
10/1/202584.95 USD
9/30/202584.08 USD
9/29/202584.08 USD
9/28/202584.65 USD
9/25/202584.32 USD
9/24/202583.21 USD
9/23/202585.12 USD
9/22/202584.83 USD
9/19/202584.36 USD
9/18/202580.99 USD
9/17/202580.51 USD
9/16/202579.86 USD
9/15/202581.00 USD
9/12/202579.86 USD
9/11/202581.01 USD
9/10/202579.48 USD
9/9/202579.91 USD
9/8/202580.41 USD
9/5/202578.85 USD
9/4/202576.31 USD
9/3/202576.90 USD
9/2/202576.89 USD
8/29/202578.86 USD
8/28/202579.29 USD
8/27/202577.81 USD
8/26/202577.65 USD
8/25/202577.79 USD
8/22/202580.10 USD
8/21/202577.67 USD
8/20/202579.61 USD
8/19/202578.17 USD
8/18/202581.15 USD
Access this data via the Eulerpool API

Fortinet Revenue, EBIT, Net Income

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  • 5 Years

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  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2023
5.30 B USD
1.24 B USD
1.15 B USD
Jan 1, 2024
5.96 B USD
1.80 B USD
1.75 B USD
Jan 1, 2025
6.80 B USD
2.08 B USD
1.85 B USD
Jan 1, 2026 (e)
8.12 B USD
3.96 B USD
2.64 B USD
Jan 1, 2027 (e)
9.01 B USD
4.38 B USD
2.87 B USD
Jan 1, 2028 (e)
9.53 B USD
4.84 B USD
2.93 B USD
Jan 1, 2029 (e)
11.23 B USD
5.69 B USD
2.37 B USD
Jan 1, 2030 (e)
11.98 B USD
6.08 B USD
2.52 B USD

Fortinet Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 18, 2026, 2:35 PM
 
REVENUEB USD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB USD
EBITB USD
EBIT MARGIN%
NET INCOMEB USD
NET INCOME GROWTH%
SHARESM
201520162017201820192020202120222023202420252026e2027e2028e2029e2030e
1.011.281.491.802.162.593.344.425.305.966.808.129.019.5311.2311.98
31.0426.3617.1820.7519.9019.9328.8432.1720.0812.2714.1719.4110.965.8217.776.74
71.5673.4974.2375.0676.6178.0376.5775.4476.6880.5780.8580.8580.8580.8580.8580.85
0.720.941.111.351.662.022.563.334.074.805.506.567.287.719.089.69
0.010.040.110.230.350.530.650.971.241.802.083.964.384.845.696.08
1.393.297.3012.9716.2320.4719.4521.9423.4030.2830.6248.7748.6550.7250.7250.72
0.010.030.030.330.330.490.610.861.151.751.852.642.872.932.372.52
-72.00357.14-3.13977.42-0.9047.4324.1841.4233.8452.146.1942.368.951.81-19.146.68
859.16891.39857.65879.00876.00827.50835.00791.80772.30775.20748.00748.00748.00748.00748.00748.00
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Fortinet generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Fortinet retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Fortinet's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Fortinet has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Fortinet's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Fortinet stock margins

The Fortinet margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Fortinet. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Fortinet.
  • 3 Years

  • 5 Years

  • 10 Years

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  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
76.57 %
19.46 %
18.16 %
Jan 1, 2022
75.44 %
21.95 %
19.41 %
Jan 1, 2023
76.68 %
23.40 %
21.64 %
Jan 1, 2024
80.56 %
30.28 %
29.30 %
Jan 1, 2025
80.84 %
30.62 %
27.26 %
Jan 1, 2026 (e)
80.84 %
48.78 %
32.50 %
Jan 1, 2027 (e)
80.84 %
48.65 %
31.91 %
Jan 1, 2028 (e)
80.84 %
50.72 %
30.70 %

Fortinet Stock Revenue, EBIT, Earnings per Share

The Fortinet earnings per share therefore indicates how much revenue Fortinet has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
4.00 USD
0.78 USD
0.73 USD
Jan 1, 2022
5.58 USD
1.22 USD
1.08 USD
Jan 1, 2023
6.87 USD
1.61 USD
1.49 USD
Jan 1, 2024
7.68 USD
2.33 USD
2.25 USD
Jan 1, 2025
9.09 USD
2.78 USD
2.48 USD
Jan 1, 2026 (e)
10.62 USD
5.29 USD
3.45 USD
Jan 1, 2027 (e)
11.78 USD
5.86 USD
3.76 USD
Jan 1, 2028 (e)
12.47 USD
6.46 USD
3.83 USD

Fortinet business model & stock analysis

Fortinet Inc. is an American IT security company specializing in the development, production, and marketing of advanced security solutions for businesses, service providers, and government agencies. Established in 2000 by Ken Xie, the former founder and CEO of Netscreen Technologies, the company is headquartered in Sunnyvale, California. Fortinet's business model focuses on the development of cybersecurity solutions. They offer advanced and comprehensive security solutions based on the latest technologies and strategies, capable of defending against various security threats such as viruses, malware, phishing, DDoS attacks, ransomware, etc. Fortinet follows a multi-level strategy to expand its business, relying on partnerships, mergers, and acquisitions in the cybersecurity industry. Fortinet began as a small startup company in California in 2000. In 2001, they introduced their first product, the FortiGate, which served as a Unified Threat Management (UTM) device, incorporating multiple security features such as firewall, VPN, Intrusion Prevention System (IPS), antivirus, and anti-spam. In 2003, the company launched the FortiManager and FortiAnalyzer product lines to enable centralized administration and comprehensive reporting of security events. Over the years, Fortinet has expanded its portfolio and now offers a wide range of products and solutions based on the latest technologies and strategies. In 2019, the company's revenue amounted to $2.16 billion. Fortinet offers a variety of products and solutions specializing in different areas of cybersecurity, including network and endpoint security, cloud security, application security, IoT and OT security and management, as well as consulting and professional services. The product range includes: - FortiGate: A network security device that includes firewall, VPN, IPS, application control, anti-malware, anti-spam, and web filtering. - FortiWeb: A web-based firewall that enhances the security of critical web applications. - FortiMail: An email security solution that blocks spam and malware, filters content, and provides encryption. - FortiDDoS: A solution for defending against Distributed Denial-of-Service (DDoS) attacks. - FortiClient: An endpoint security solution that ensures the security of devices. - FortiOS: An operating system and framework that controls most of Fortinet's products. - FortiManager: A centralized management system that enables configuration and administration of Fortinet security products. - FortiAnalyzer: A central reporting and analysis system that provides a comprehensive and detailed overview of security events. In conclusion, Fortinet has become a global leader in the cybersecurity industry in recent years. The company delivers advanced and comprehensive security solutions and relies on cooperation and acquisitions to consolidate its position in the industry. With a strong product portfolio and a high commitment to research and development, Fortinet will continue to play a significant role in the cybersecurity industry in the future.

Fortinet SWOT Analysis

Strengths

Fortinet Inc is a leading provider of cybersecurity solutions, offering a comprehensive range of products and services.

The company has a strong brand reputation and has been recognized as a market leader in the cybersecurity industry.

Fortinet's products are known for their reliability, scalability, and advanced threat protection capabilities.

Weaknesses

Fortinet's heavy reliance on a few key distributors for sales and distribution could pose a risk to the company's revenue and market share.

The company may face challenges in keeping up with rapidly evolving technology and cybersecurity threats.

Fortinet's product portfolio may be perceived as complex by some potential customers, requiring significant technical expertise for deployment and management.

Opportunities

The growing global cybersecurity market presents significant opportunities for Fortinet to expand its customer base and increase sales.

Increasing awareness about the need for robust cybersecurity measures across industries provides Fortinet with the chance to capitalize on demand.

As cloud computing and digital transformation continue to accelerate, there is an increasing need for advanced security solutions, opening doors for Fortinet.

Threats

Intense competition from both established players and emerging startups in the cybersecurity market poses a threat to Fortinet's market position.

Rapidly evolving cybersecurity threats and techniques may require continuous investments in research and development to stay ahead.

Economic downturns or budget constraints faced by potential customers could affect their willingness to invest in cybersecurity solutions.

Fortinet Employees

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Fortinet Employees
Details
Date
Fortinet Employees
Jan 1, 2018
- Employees
Jan 1, 2019
- Employees
Jan 1, 2020
- Employees
Jan 1, 2021
- Employees
Jan 1, 2022
- Employees
Jan 1, 2023
- Employees
Jan 1, 2024
- Employees
Jan 1, 2025
- Employees

Fortinet Segments

Fortinet Revenue by Segment (1/2)

  • Max

Service
Product
Details
Date
Service
Product
Jan 1, 2024
4.05 B USD
1.91 B USD
Jan 1, 2025
4.58 B USD
2.22 B USD

Fortinet Revenue by Segment (2/2)

  • Max

Reportable Segment
Details
Date
Reportable Segment
Jan 1, 2024
5.96 B USD
Jan 1, 2025
6.80 B USD

Fortinet Revenue by Region

  • 3 Years

  • 5 Years

  • Max

EMEA
Americas
United States
APAC
Other Americas
Details
Date
EMEA
Americas
United States
APAC
Other Americas
Jan 1, 2019
813.90 M USD
917.30 M USD
0.00 USD
425.00 M USD
0.00 USD
Jan 1, 2020
991.90 M USD
1.08 B USD
0.00 USD
525.30 M USD
0.00 USD
Jan 1, 2021
1.28 B USD
1.36 B USD
0.00 USD
707.50 M USD
0.00 USD
Jan 1, 2022
1.69 B USD
1.79 B USD
0.00 USD
940.60 M USD
0.00 USD
Jan 1, 2023
2.07 B USD
2.18 B USD
0.00 USD
1.06 B USD
0.00 USD
Jan 1, 2024
2.40 B USD
2.44 B USD
1.78 B USD
1.12 B USD
663.30 M USD
Jan 1, 2025
2.83 B USD
2.70 B USD
1.93 B USD
1.26 B USD
770.90 M USD

Fortinet Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Fortinet historical P/E ratio, EBIT multiple, and P/S ratio

Fortinet annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Fortinet shares outstanding

The number of shares of Fortinet was 748 M in 2025. This indicates how many shares Fortinet is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
  • 3 Years

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  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
835.00 M Stocks
Jan 1, 2022
791.80 M Stocks
Jan 1, 2023
772.30 M Stocks
Jan 1, 2024
775.20 M Stocks
Jan 1, 2025
748.00 M Stocks
Jan 1, 2026 (e)
748.00 M Stocks
Jan 1, 2027 (e)
748.00 M Stocks
Jan 1, 2028 (e)
748.00 M Stocks

Fortinet stock splits

In Fortinet's history, there have been no stock splits.

Current Fortinet forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
1.16 %
Buy
36.00 % (18)
Hold
58.00 % (29)
Sell
6.00 % (3)
12M Price Target
88.74
Last Price
160.01
Currency
USD
12M Return Potential
-44.54 %
LTM Return
0 %

Fortinet Analyst Rating Actions

DateFirmActionRatingReliability
7/31/2026
Susquehanna
Susquehanna
MaintainedNeutral
7/30/2026
Wells Fargo
Wells Fargo
MaintainedUnderweight56
7/30/2026
Stifel
Stifel
MaintainedHold
7/30/2026
Rosenblatt
Rosenblatt
MaintainedBuy72
7/30/2026
RBC Capital
RBC Capital
MaintainedSector Perform52
7/30/2026
Piper Sandler
Piper Sandler
MaintainedNeutral51
7/30/2026
Morgan Stanley
Morgan Stanley
MaintainedEqual Weight60
7/30/2026
Evercore ISI Group
Evercore ISI Group
MaintainedIn Line62
7/30/2026
Citigroup
Citigroup
MaintainedNeutral48
7/30/2026
Cantor Fitzgerald
Cantor Fitzgerald
MaintainedNeutral44

Eulerpool Reliability Score (0–100): measures how often a firm’s bullish or bearish calls were directionally correct three months later, blended with the average return following its calls. Every rating we record is stored permanently and scores update continuously; firms with fewer than 3 measured calls are not scored yet.

Fortinet Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
7/29/20260.76USD-1.92 BUSD-2026 Q2
5/6/20260.63USD-1.77 BUSD-2026 Q1
2/5/20260.76USD-1.90 BUSD-2025 Q4
5/2/20240.38USD-1.41 BUSD-2024 Q1
2/5/20240.44USD-1.44 BUSD-2023 Q4
8/1/20230.32USD-1.29 BUSD-2023 Q2
5/2/20230.28USD-1.20 BUSD-2023 Q1
2/1/20230.40USD-1.32 BUSD-2022 Q4
11/2/20220.28USD-1.14 BUSD-2022 Q3
8/3/20220.22USD-1.04 BUSD-2022 Q2

EESG©

Eulerpool ESG Scorecard© for the Fortinet stock

74/100
83
Environment
87
Social
51
Governance
E

Environment

20
Scope 1 - Direct Emissions1,606.4
Scope 2 - Indirect emissions from purchased energy9,838.8
Scope 3 - Indirect emissions within the value chain1,855,416
Total CO₂ emissions11,445.2
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides
Palm Oil
Tobacco
Genetically modified organisms
Climate concept
Sustainable forestry
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees20
Percentage of women in management
Percentage of Asian employees37.2
Share of Asian management
Percentage of Hispanic/Latino employees9.4
Hispano/Latino Management share
Percentage of Black employees2.7
Black Management Share
Percentage of white employees48.5
White Management Share
Adult content
Alcohol
Weapons
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Fortinet shareholder structure

% Name
8.10473%
BLACKROCK, INC.
BLACKROCK, INC.
5.19942%
VANGUARD CAPITAL MANAGEMENT LLC
VANGUARD CAPITAL MANAGEMENT LLC
3.78363%
STATE STREET CORP
STATE STREET CORP
3.27461%
VANGUARD PORTFOLIO MANAGEMENT LLC
VANGUARD PORTFOLIO MANAGEMENT LLC
2.28378%
GEODE CAPITAL MANAGEMENT, LLC
GEODE CAPITAL MANAGEMENT, LLC
2.03103%
INVESCO LTD.
INVESCO LTD.
...

Fortinet Beneficial Ownership Filings (SEC 13D/G)

Free Float
84.4%
Float Shares
-
Shares Outstanding
-
StakeHolderFiling
9.70%
Xie
Xie
SEC ↗
9.60%
Ken Xie
Ken Xie
SEC ↗
9.50%
Paul Madera
Paul Madera
SEC ↗
9.50%
Michael Gordon
Michael Gordon
SEC ↗
9.50%
Meritech Management Associates II L.L.C
Meritech Management Associates II L.L.C
SEC ↗
9.50%
Meritech Capital Associates II LLC
Meritech Capital Associates II LLC
SEC ↗
9.20%
Meritech Capital Partners II L.P. (“MCP II”)
Meritech Capital Partners II L.P. (“MCP II”)
SEC ↗
8.90%
Xie Ken
Xie Ken
SEC ↗
8.80%
Michael Xie
Michael Xie
SEC ↗
8.71%
Xie Michael
Xie Michael
SEC ↗

Fortinet Executives and Management Board

12 members · avg. age 65 · 33 % women

KX

Mr. Ken Xie (62)

Chairman of the Board, Chief Executive Officer · since 2000

13.14 M USD

Management

MX

Mr. Michael Xie (56)

President, Chief Technology Officer, Director · since 2000

6.60 M USD
JW

Mr. John Whittle (57)

Chief Operating Officer

5.65 M USD
CO

Ms. Christiane Ohlgart (57)

Chief Financial Officer, Principal Accounting Officer

Board of Directors

KS

Ms. Koon Lien Sim (56)

Lead Independent Director

453,501.00 USD
KG

Mr. Kenneth Goldman (75)

Independent Director · since 2007

441,501.00 USD
AS

Adm. (Retd.) James Stavridis (70)

Independent Director

422,334.00 USD
WN

Mr. William Neukom (83)

Independent Director

422,001.00 USD
MH

Mr. Ming Hsieh (69)

Independent Director

420,501.00 USD
JH

Ms. Jean Hu (61)

Independent Director

410,501.00 USD

Fortinet Supply Chain

Fortinet Supply Chain

Correlation: how closely stock prices move together

Same directionNo relationOpposite
30 companies
#Nameβ 1YTrend
1
Redington India
Customer·IN
0.50
0.68
0.49
0.06
0.20
0.95
2
TIS
Customer·IT Services·JP
0.75
-0.04
-0.31
0.08
0.30
0.89
0.34
3
Toshiba
Supplier·Customer·Industrial Conglomerates·JP
0.53
-0.03
-0.41
-0.41
-0.16
0.89
4
Mimecast
Supplier·Customer·Software·GB
0.62
0.40
-0.31
-0.13
0.60
0.87
5
Nippon Telegraph and Telephone Corporation
Customer
0.56
0.19
0.18
-0.19
0.37
0.82
#Nameβ 1YTrend
1
ON24
Supplier·Software·US
0.89
0.67
0.78
0.49
-0.58
2
Plat'Home
Customer·Technology Hardware, Storage & Peripherals·JP
0.63
0.25
0.58
0.40
-0.30
-0.91
3
Toshiba Corporation
Supplier
0.50
0.06
-0.52
-0.01
0.47
4
FIT Hon Teng
Supplier·Customer·Electronic Equipment, Instruments & Components·TW
0.62
-0.13
0.26
0.27
-0.35
-0.89
5
Daiko Denshi Tsushin
Customer·Electronic Equipment, Instruments & Components·JP
0.59
-0.08
-0.49
-0.24
-0.45
-0.81

Frequently asked questions about Fortinet

Fortinet Inc is primarily active in the cybersecurity industry.

The main competitors of Fortinet Inc in the market include Cisco Systems, Palo Alto Networks, Check Point Software Technologies, and Juniper Networks.

Fortinet Inc. is a leading cybersecurity company with a robust business model. The company provides organizations with integrated and comprehensive solutions to protect their digital assets from advanced threats. Fortinet offers a range of security products and services, including network security, endpoint security, cloud security, and more. By leveraging its innovative technologies and expertise, Fortinet helps businesses safeguard their networks, applications, and data against cyber threats, ensuring uninterrupted operations and peace of mind. Through its proactive approach and dedication to delivering top-notch cybersecurity solutions, Fortinet Inc. has established itself as a trusted leader in the industry.

Fortinet Inc is a leading cybersecurity company founded in 2000 by Ken Xie. With its headquarters in Sunnyvale, California, Fortinet Inc has established itself as a global provider of network security solutions. The company offers a range of products and services, including firewalls, anti-malware, intrusion prevention systems, and secure email gateways. Fortinet Inc has a strong presence in the industry and is well-known for its innovative and effective cybersecurity solutions. Over the years, the company has earned numerous accolades for its commitment to security and has emerged as a trusted name in protecting organizations against advanced cyber threats.

Fortinet Inc has achieved several significant milestones since its inception. The company successfully launched its IPO in 2009, marking a major accomplishment in its financial growth. It has consistently demonstrated strong growth, with its revenue surpassing $1 billion in 2011. Fortinet has gained a strong foothold in the cybersecurity market, becoming a leading provider of network security appliances and services. It has received numerous industry accolades and awards for its innovative solutions and commitment to customer satisfaction. Over the years, Fortinet has expanded its global presence, establishing a vast customer base across various industries. With continuous advancements in its product offerings and strategic acquisitions, Fortinet Inc has positioned itself as a prominent player in the cybersecurity industry.

Fortinet Inc is primarily present globally, with operations in various countries and regions. The company has a significant presence in North America, including the United States and Canada, where its headquarters are located. Fortinet Inc also has a strong foothold in the Asia Pacific region, with a notable presence in countries such as China, Japan, India, and Australia. Additionally, it has a growing customer base in Europe, including key markets like the United Kingdom, Germany, France, and the Netherlands. Overall, Fortinet Inc's global presence allows it to cater to customers and provide cybersecurity solutions across different continents and markets.

Fortinet Inc is a renowned cybersecurity company that upholds a strong set of values and corporate philosophy. With a commitment to protect and secure organizations' digital assets, Fortinet prioritizes innovation, trust, and customer-centricity. The company believes in delivering cutting-edge solutions and staying ahead of cyber threats to ensure the highest level of security for its clients. Fortinet's philosophy revolves around providing comprehensive, integrated, and automated cybersecurity solutions to empower businesses globally. With a relentless focus on quality, reliability, and continuous improvement, Fortinet Inc is dedicated to safeguarding its customers' networks and fostering a secure digital future.

Analysts currently set an average price target of 89.73 USD for the Fortinet stock (median: 88.74 USD), implying -43.9 % versus the latest price. The consensus is based on 50 analyst ratings.

50 analysts currently rate the Fortinet stock: 18 recommend buying, 29 holding and 3 selling. For 2026, analysts expect Fortinet to generate revenue of 8.12 B USD and earnings per share of 3.53 USD.

Converted at the current exchange rate, the Fortinet share trades at 138.11 EUR (160.01 USD).

The Fortinet share (FTNT) is listed on 7 stock exchanges, including: NASDAQ (FTNT), Frankfurt (FO8.F), München (FO8.MU), Düsseldorf (FO8.DU), London (0IR9.L), London (0IR9.L), SIX (Zürich) (FO8.SW).

Fortinet Inc is a multinational company that offers cybersecurity solutions and was founded in 2000. The company provides a wide range of solutions for businesses of all sizes, including networking and security, cloud security, and endpoint protection. Fortinet's networking and security products include firewalls, WiFi, switches, and threat protection services. Their cloud security solutions allow businesses to safely operate in the cloud, while their endpoint protection offerings protect against malware and other attacks. Fortinet is based in Sunnyvale, California, and offers 24/7 customer support and cloud-based security solutions. The company is known for its innovative technologies and ability to provide tailored cybersecurity solutions worldwide.

The expected revenue of Fortinet is 8.12 B USD. This figure is based on current financial data and reflects the company's business performance.

The expected profit of Fortinet is 2.64 B USD. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of Fortinet is currently 45.36. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the Fortinet stock.

The price-to-sales ratio (P/S) of Fortinet is currently 14.74. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the Fortinet stock.

The Eulerpool Quality Score for Fortinet is 7/10.

The ISIN of Fortinet is US34959E1091. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of Fortinet is A0YEFE. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of Fortinet is FTNT. The ticker symbol is used to trade Fortinet shares on the stock exchange.

Fortinet paid dividends every year for the past 0 years.

Fortinet is assigned to the 'Information technology' sector.

The dividends of Fortinet are distributed in USD.

All fundamentals and in-depth analysis of Fortinet

Our stock analysis for Fortinet stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Fortinet. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.