Fortinet Stock

Fortinet EV/EBIT

The EV/EBIT (Enterprise Value to EBIT) of Fortinet (FTNT) as of Aug 15, 2026 is 30.56. In the previous year, EV/EBIT (Enterprise Value to EBIT) was 35.28 — a change of -13.38% (lower).

EV/EBIT

30.56

YoY

-13.38%

Last updated:

EV/EBIT (Enterprise Value to EBIT) of Fortinet is 2026 30.56 . EV/EBIT (Enterprise Value to EBIT) of Fortinet was 2025 35.28 . It decreases by -13.38% lower compared to the previous year.

The Fortinet EV/EBIT history

  • 3 Years

  • 10 Years

  • 25 Years

  • Max

PRICE-TO-EBIT
Date
PRICE-TO-EBIT
Jan 1, 2019
53.29 base
Jan 1, 2020
46.22 base
Jan 1, 2021
92.28 base
Jan 1, 2022
39.92 base
Jan 1, 2023
36.42 base
Jan 1, 2024
40.61 base
Jan 1, 2025
28.53 base
Jan 1, 2026 (e)
31.25 base
YEARPRICE-TO-EBIT
2026 est 31.25
2025 28.53
2024 40.61
2023 36.42
2022 39.92
2021 92.28
2020 46.22
2019 53.29
2018 52.82
2017 68.25
2016 125.17
2015 360.02
2014 88.34
2013 44.81
2012 34.93
2011 40.66
2010 47.60
2009 51.93
2008 -
2007 -
2006 -
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Fortinet Valuation

Details

Historical Valuation Multiples

Price-to-Earnings Ratio (P/E)

The P/E ratio divides Fortinet's share price by its earnings per share. It tells you how many years of current earnings you are "paying for" when you buy the stock. A P/E of 20 means you pay $20 for every $1 of annual earnings. The S&P 500 historically trades at an average P/E of roughly 15–17. A P/E significantly above that may signal high growth expectations; one below may indicate undervaluation — or declining business quality.

Price-to-Sales Ratio (P/S)

The P/S ratio divides market capitalization by total revenue. Unlike the P/E ratio, it works even for companies that are not yet profitable, making it essential for evaluating high-growth firms. A P/S below 1.0 may indicate undervaluation, while ratios above 10 are typically reserved for fast-growing tech or SaaS companies with high expected future margins.

Price-to-EBIT Ratio

This ratio relates Fortinet's market price to its operating earnings, excluding the effects of debt structure and tax jurisdiction. It is particularly useful for comparing companies across different countries or with different levels of leverage, because it focuses purely on operational profitability. Lower values suggest cheaper operational earnings.

How to Use This Chart

This chart plots Fortinet's valuation multiples over time. Compare the current P/E, P/S, and P/EBIT to their own historical averages — if the current ratio is well below the multi-year average, the stock may be relatively cheap compared to its own track record. Combine this with industry comparisons: a P/E that looks high in absolute terms may be justified if Fortinet grows earnings faster than its peers.

Fortinet Stock analysis

What does Fortinet do? 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 is one of the most popular companies on Eulerpool.

Frequently Asked Questions about Fortinet stock

EV/EBIT (Enterprise Value to EBIT) of Fortinet is 30.56 in 2026.

EV/EBIT (Enterprise Value to EBIT) of Fortinet changed from 35.28 to 30.56, representing a -13.38% change. The value is lower than the previous year.

On Eulerpool you can find the complete historical development of EV/EBIT (Enterprise Value to EBIT) Fortinet since 2006 – with annual values, charts, and detailed analysis.

The EV/EBIT ratio measures a company's enterprise value relative to its operating earnings. It accounts for debt, making it useful for comparing companies with different capital structures.

EV/EBIT = Enterprise Value / Earnings Before Interest and Taxes

To evaluate EV/EBIT (Enterprise Value to EBIT)'s, it is essential to compare it with peers in the same industry and sector. On Eulerpool, you can find direct industry comparisons for EV/EBIT (Enterprise Value to EBIT).

A 'good' varies by industry and company stage. On Eulerpool, you can compare EV/EBIT (Enterprise Value to EBIT)'s Fortinet with sector peers and the industry average to assess whether it is attractive.

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Valuation — Fortinet

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