FTNT
Fortinet
Information Technology · Systems Software · US
$122.86
Close 2026-05-15
✓ ETHICAL PASS

STRONG MOAT
HIGH
Data Confidence: 100%
Full financial profile available
Market Cap
$90.0B
Trailing P/E
47.62
Forward P/E
35.85
Rev Growth
+20.1%
Profit Margin
27.5%
ROE
132.4%
Analyst Target
$106.47
Recommendation
HOLD
About Fortinet

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.

Opportunity Summary
Trading at $123, 78% above fair value of $69. Strong competitive moat. 28% profit margins. Passes all ethical screens. Ranks better than 72% of screened stocks.
Ethical Screen
Business ActivityPASS
Debt Ratio (0.10%)PASS
Cash Ratio (0.03%)PASS
Receivables Ratio (0.40%)PASS
Revenue Ratio (0.02%)PASS
OverallPASS
Score Ethical: 79.1
Score Valuation: 30.5
Score Quality: 92.0
Score Combined: 57.0
Fair Value Est: $68.89 · Margin of Safety: -78.3% · Tier: OVERVALUED

Full Analysis

Opportunity scores, earnings history, insider transactions, institutional holders, analyst consensus, and more.

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Opportunity Scores
Valuation25.6
Quality100.0
Cash Flow27.5
Moat100.0
Balance Sheet83.8
Debt Purity70.9
Liquid Purity90.1
Rev Purity52.3
Compliance71.1
Tier: BRONZE · Score: 43.2 · Rank: #3765
Earnings History (Last 8 Quarters)
DateEPS Est.Reported EPSSurprise %
2026-08-050.74Pending--
2026-05-060.620.82+32.6%
2026-02-050.640.68+5.7%
2025-11-050.630.74+16.9%
2025-08-060.590.64+8.3%
2025-05-070.530.58+9.0%
2025-02-060.540.68+26.8%
2024-11-070.520.63+21.5%
Quarterly Financials
PeriodRevenueNet IncomeEBITDAGross ProfitOp. IncomeEPS
2026-03-31$1.8B$534.5M$700.6M$1.5B$580.0M0.72
2025-12-31$1.9B$506.0M$694.7M$1.5B$625.6M0.68
2025-09-30$1.7B$473.9M$639.4M$1.4B$547.3M0.63
2025-06-30$1.6B$440.1M$560.2M$1.3B$458.0M0.57
2025-03-31$1.5B$433.4M$560.0M$1.2B$453.8M0.56
2024-12-31
Insider Transactions
DateNameRoleSharesValue
2026-05-20OHLGART CHRISTIANE MARGRITChief Financial Officer238$30.9K
2026-05-19XIE MICHAELChief Technology Officer5,854,588--
2026-05-14OHLGART CHRISTIANE MARGRITChief Financial Officer756$90.7K
2026-05-11OHLGART CHRISTIANE MARGRITChief Financial Officer238$27.4K
2026-05-07OHLGART CHRISTIANE MARGRITChief Financial Officer756$83.2K
2026-05-05OHLGART CHRISTIANE MARGRITChief Financial Officer596$53.5K
2026-05-04XIE MICHAELChief Technology Officer2,478$220.3K
2026-05-04XIE KENNETH QINGChief Executive Officer5,355$476.0K
2026-05-01XIE KENNETH QINGChief Executive Officer13,092--
2026-05-01OHLGART CHRISTIANE MARGRITChief Financial Officer4,903--
Top Institutional Holders
HolderSharesValue% Held
Blackrock Inc.62.0M$8.3B0.1%
Vanguard Capital Management LLC39.8M$5.3B0.1%
State Street Corporation28.9M$3.9B0.0%
Vanguard Portfolio Management LLC25.0M$3.4B0.0%
Geode Capital Management, LLC17.5M$2.3B0.0%
Bank Of New York Mellon Corporation13.3M$1.8B0.0%
First Trust Advisors LP11.5M$1.5B0.0%
Invesco Ltd.10.0M$1.3B0.0%
Arrowstreet Capital, Limited Partnership9.7M$1.3B0.0%
Goldman Sachs Group Inc9.0M$1.2B0.0%
Analyst Recommendations
3 Months Ago
1
9
29
3
43 analysts
2 Months Ago
1
9
29
3
43 analysts
Last Month
1
9
29
2
42 analysts
Current
10
29
3
43 analysts
Strong Buy Buy Hold Sell Strong Sell
Additional Fundamentals
Enterprise Value
$95.4B
Price/Book
99.35
Beta
0.919
Analysts
36
Total Revenue (TTM)
$7.1B
Total Debt
$567.2M
Earnings Growth
+28.6%
Rec. Mean
2.70
Short Ratio
3.40
Short % Float
0.0%
Employees
15,311

Elite Intelligence

Trade Consideration with position sizing, convergence signals, and risk analysis. Available to Elite members.

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Trade Consideration
The Opportunity
Score 57.0 (P90 — top 10.2% of scored tickers). Strong Moat. Ethical PASS. 36 analysts at Hold.
Price: $122.86 | Target: $107.17 (+-13%) | Fair Value: $68.89 (+-44%)
Score
57
Moat
STRONG
Conviction
Standard
Upside
+-13%
The Fundamentals
Revenue Growth+20.1%
Profit Margin27.5%
ROE132.4%
Forward P/E35.8
Market Cap$90.0B
Earnings Track Record
DateEstimateReportedSurprise
2026-08-05$0.74Pending
2026-05-06$0.62$0.82+32.6%
2026-02-05$0.64$0.68+5.7%
2025-11-05$0.63$0.74+16.9%
2025-08-06$0.59$0.64+8.3%
2025-05-07$0.53$0.58+9.0%
Position Sizing Scenarios
Stop: $104.43 (-15%) | Entry: $122.86
SharesCostProfit to TargetR:R
To Consensus ($107.17, 36 analysts)
10$1,228.60+$-156.90 (-13%)-0.9R
50$6,142.99+$-784.50 (-13%)-0.9R
100$12,285.99+$-1,569.00 (-13%)-0.9R
To Fair Value ($68.89)
10$1,228.60+$-539.70 (-44%)-2.9R
50$6,142.99+$-2,698.50 (-44%)-2.9R
100$12,285.99+$-5,397.00 (-44%)-2.9R
Risk Factors
  • Elevated short interest (3.40 days to cover)
  • Valuation stretched on forward earnings
The Verdict
Fortinet passes all ethical screens, holds a strong competitive moat, and is growing revenue at +20.1%.
Quantitative Grade

A single score combining all analytical layers below. A is strongest, D is weakest.

A
Quant Score
73.2
Risk Grade
LOW_RISK
Layers
8
Quality: CONSISTENT_BEATER
Risk Profile

How much could this ticker lose on a bad day? These metrics measure worst-case scenarios from historical data.

VaR 95%
-3.5%
worst expected daily loss, 19 in 20 days
CVaR 95%
-5.7%
avg loss on the worst 5% of days
Annual Volatility
Sortino Ratio
1.19
above 1.0 is good
Max Drawdown
-35.1%
Worst Day
Forward Outlook

Based on 10,000 simulated price paths, here is the probability of where this ticker could be in 30, 60, and 90 days.

30d Prob Up
90d Prob Up
Median Return 30d
Liquidity Score
95
Liquidity Grade
HIGHLY LIQUID
Trend & Momentum

What direction is this ticker actually moving, filtered through noise? Is it speeding up or slowing down?

Kalman Trend
Trend Strength
Momentum Signal
HMM Regime
RSI Signal
Technical Signals

Classic chart signals that institutional traders monitor. Golden Cross is bullish, Death Cross is bearish.

MA Crossover
GOLDEN_CROSS
Bollinger Position
NEAR_UPPER
Beta
Relative Volume
1.4x
Short Interest
Financial Health

Is this company financially sound? The Z-Score measures bankruptcy risk. The F-Score measures fundamental strength.

Altman Z-Score
below 1.81 = distress zone
Piotroski F-Score
Earnings Beat Rate
100.0%
Earnings Consistency
Correlations

These tickers tend to move together (positive) or in opposite directions (negative). Useful for portfolio diversification.

Most Correlated
TickerCorrelation
PANW0.582
DT0.569
CRWD0.520
ZS0.505
QQEW0.468
Inverse Correlated
TickerCorrelation
GLIBA-0.319
GLIBK-0.313
IBP-0.227
BKIC.BH-0.201
ALEC.AE-0.177
Seasonality

Does this ticker have consistent patterns on certain days or months? Historical tendencies, not guarantees.

Best Day
Friday
Worst Day
Thursday
Best Month
May
Worst Month
Jul
Fri-Mon Effect
0.04635672953309433
Earnings Drift

After this company beats earnings, does the price keep going up? Drift tracks post-earnings momentum.

Avg Drift After Beat
+4.9%
Beat Drift Positive %
42.9%
Consistency
Momentum Rankings

How does this ticker's recent performance compare to the entire universe? Ranked across 1, 3, 6, and 12-month returns.

1M Return
+58.8%
3M Return
+78.1%
6M Return
+71.7%
12M Return
+29.3%
Momentum Rank
#203
Momentum Signal
STRONG_UP

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