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.
| Business Activity | PASS |
| Debt Ratio (0.10%) | PASS |
| Cash Ratio (0.03%) | PASS |
| Receivables Ratio (0.40%) | PASS |
| Revenue Ratio (0.02%) | PASS |
| Overall | PASS |
| Date | EPS Est. | Reported EPS | Surprise % |
|---|---|---|---|
| 2026-08-05 | 0.74 | Pending | -- |
| 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% |
| 2025-02-06 | 0.54 | 0.68 | +26.8% |
| 2024-11-07 | 0.52 | 0.63 | +21.5% |
| Period | Revenue | Net Income | EBITDA | Gross Profit | Op. Income | EPS |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.8B | $534.5M | $700.6M | $1.5B | $580.0M | 0.72 |
| 2025-12-31 | $1.9B | $506.0M | $694.7M | $1.5B | $625.6M | 0.68 |
| 2025-09-30 | $1.7B | $473.9M | $639.4M | $1.4B | $547.3M | 0.63 |
| 2025-06-30 | $1.6B | $440.1M | $560.2M | $1.3B | $458.0M | 0.57 |
| 2025-03-31 | $1.5B | $433.4M | $560.0M | $1.2B | $453.8M | 0.56 |
| 2024-12-31 | — | — | — | — | — | — |
| Date | Name | Role | Shares | Value |
|---|---|---|---|---|
| 2026-05-20 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 238 | $30.9K |
| 2026-05-19 | XIE MICHAEL | Chief Technology Officer | 5,854,588 | -- |
| 2026-05-14 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 756 | $90.7K |
| 2026-05-11 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 238 | $27.4K |
| 2026-05-07 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 756 | $83.2K |
| 2026-05-05 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 596 | $53.5K |
| 2026-05-04 | XIE MICHAEL | Chief Technology Officer | 2,478 | $220.3K |
| 2026-05-04 | XIE KENNETH QING | Chief Executive Officer | 5,355 | $476.0K |
| 2026-05-01 | XIE KENNETH QING | Chief Executive Officer | 13,092 | -- |
| 2026-05-01 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 4,903 | -- |
| Holder | Shares | Value | % Held |
|---|---|---|---|
| Blackrock Inc. | 62.0M | $8.3B | 0.1% |
| Vanguard Capital Management LLC | 39.8M | $5.3B | 0.1% |
| State Street Corporation | 28.9M | $3.9B | 0.0% |
| Vanguard Portfolio Management LLC | 25.0M | $3.4B | 0.0% |
| Geode Capital Management, LLC | 17.5M | $2.3B | 0.0% |
| Bank Of New York Mellon Corporation | 13.3M | $1.8B | 0.0% |
| First Trust Advisors LP | 11.5M | $1.5B | 0.0% |
| Invesco Ltd. | 10.0M | $1.3B | 0.0% |
| Arrowstreet Capital, Limited Partnership | 9.7M | $1.3B | 0.0% |
| Goldman Sachs Group Inc | 9.0M | $1.2B | 0.0% |
$95.4B
99.35
0.919
36
$7.1B
$567.2M
+28.6%
2.70
3.40
0.0%
15,311
| Date | Estimate | Reported | Surprise |
|---|---|---|---|
| 2026-08-05 | $0.74 | Pending | — |
| 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% |
| Shares | Cost | Profit to Target | R: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 |
- Elevated short interest (3.40 days to cover)
- Valuation stretched on forward earnings
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| Ticker | Correlation |
|---|---|
| PANW | 0.582 |
| DT | 0.569 |
| CRWD | 0.520 |
| ZS | 0.505 |
| QQEW | 0.468 |
| Ticker | Correlation |
|---|---|
| GLIBA | -0.319 |
| GLIBK | -0.313 |
| IBP | -0.227 |
| BKIC.BH | -0.201 |
| ALEC.AE | -0.177 |
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