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    Fortinet Inc (FTNT)

    Official site

    TECHNOLOGY • SOFTWARE - INFRASTRUCTURE • NASDAQ

    $181.91
    -2.14 (-1.16%)

    Market Cap: $135.04B

    Last updated: Oct 16, 2026 at 1:55 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    100%(39/39)
    Avg Surprise
    +17.18%
    Streak
    67 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$0.86
    Range$0.84 - $0.92
    38 analysts
    EPS Revisions
    37
    0
    7d
    36
    0
    30d
    EPS Estimate DriftChange to current
    90d ago$0.76+12.1%
    60d ago$0.77+12.0%
    30d ago$0.86-0.0%
    7d ago$0.860.0%
    Current$0.86
    Revenue Consensus
    $2.1B
    Range$2.0B - $2.1B
    37 analysts
    Period ending Dec 31, 2026
    EPS Consensus$1.23
    Range$1.19 - $1.40
    41 analysts
    Revenue Consensus
    $2.4B
    Range$2.4B - $2.6B
    40 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.23---
    Sep 26EST
    		-$0.86---
    Jun 26
    Reported Jul 29
    		$0.81$0.66+22.73%Beat+26.6%
    Mar 26
    Reported May 6
    		$0.82$0.62+32.26%Beat+41.4%
    Dec 25
    Reported Feb 5
    		$0.81$0.74+9.46%Beat+9.5%
    Sep 25
    Reported Nov 5
    		$0.65$0.55+18.18%Beat+3.2%
    Jun 25
    Reported Aug 6
    		$0.64$0.59+8.47%Beat+12.3%
    Mar 25
    Reported May 7
    		$0.58$0.53+9.43%Beat+34.9%
    Dec 24
    Reported Feb 6
    		$0.74$0.61+21.31%Beat+45.1%
    Sep 24
    Reported Nov 7
    		$0.63$0.52+21.15%Beat+53.7%
    Jun 24
    Reported Aug 6
    		$0.57$0.41+39.02%Beat+50.0%
    Mar 24
    Reported May 2
    		$0.43$0.38+13.16%Beat+26.5%
    Dec 23
    Reported Feb 6
    		$0.51$0.43+18.60%Beat+15.9%
    Sep 23
    Reported Nov 2
    		$0.41$0.36+13.89%Beat+24.2%
    Jun 23
    Reported Aug 3
    		$0.38$0.34+11.76%Beat+58.3%
    Mar 23
    Reported May 4
    		$0.34$0.29+17.24%Beat+78.9%
    Dec 22
    Reported Feb 7
    		$0.44$0.39+12.82%Beat+76.0%
    Sep 22
    Reported Nov 2
    		$0.33$0.27+22.22%Beat+65.0%
    Jun 22
    Reported Aug 3
    		$0.24$0.22+9.09%Beat+26.3%
    Mar 22
    Reported May 4
    		$0.19$0.16+18.75%Beat+18.8%
    Dec 21
    Reported Feb 3
    		$0.25$0.23+8.70%Beat+19.0%
    Sep 21
    Reported Nov 4
    		$0.20$0.19+5.26%Beat+11.1%
    Jun 21
    Reported Jul 29
    		$0.19$0.17+11.76%Beat+18.8%
    Mar 21
    Reported Apr 29
    		$0.16$0.15+6.67%Beat+33.3%
    Dec 20
    Reported Feb 4
    		$0.21$0.19+10.53%Beat+40.0%
    Sep 20
    Reported Oct 29
    		$0.18$0.16+12.50%Beat+38.5%
    Jun 20
    Reported Aug 6
    		$0.16$0.13+23.08%Beat+33.3%
    Mar 20
    Reported May 6
    		$0.12$0.10+20.00%Beat+33.3%
    Dec 19
    Reported Feb 6
    		$0.15$0.14+7.14%Beat+25.0%
    Sep 19
    Reported Oct 31
    		$0.13$0.11+18.18%Beat+30.0%
    Jun 19
    Reported Aug 1
    		$0.12$0.10+20.00%Beat+50.0%
    Mar 19
    Reported May 2
    		$0.09$0.08+12.50%Beat+28.6%
    Dec 18
    Reported Feb 6
    		$0.12$0.10+20.00%Beat+100.0%
    Sep 18
    Reported Nov 1
    		$0.10$0.08+25.00%Beat+66.7%
    Jun 18
    Reported Aug 1
    		$0.08$0.07+14.29%Beat+60.0%
    Mar 18
    Reported May 3
    		$0.07$0.05+40.00%Beat+133.3%
    Dec 17
    Reported Feb 5
    		$0.06$0.06+0.00%Beat+0.0%
    Sep 17
    Reported Oct 26
    		$0.06$0.05+20.00%Beat-
    Jun 17
    Reported Jul 26
    		$0.05$0.04+25.00%Beat-
    Mar 17
    Reported Apr 27
    		$0.03$0.03+0.00%Beat-
    Dec 16
    Reported Feb 2
    		$0.06$0.04+50.00%Beat-

    Key Metrics

    Valuation
    P/E Ratio58.87EV/EBITDA43.58x
    Price/FCF42.78xFCF Yield2.34%
    Profitability
    Profit Margin28.20%Operating Margin33.60%
    ROE117.40%ROIC98.73%
    Financial Health
    Debt/Equity0.32xInterest Coverage138.96x
    Current Ratio1.28xQuick Ratio1.19x
    Trading Statistics
    Beta1.04Avg Volume3.84M
    52-Week High$197.1352-Week Low$73.55

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$187.91
    SMA 20$181.96
    SMA 50$169.21
    SMA 200$123.43
    EMA 10$185.92
    EMA 20$181.85
    EMA 50$171.62
    EMA 200$136.38

    MACD

    Line: 5.75Signal: 6.26Hist: -0.52

    ADX

    ADX: 33.5+DI: 25.5-DI: 21.9

    Aroon & PSAR

    Aroon Up92.0
    Aroon DownN/A
    PSAR$196.86

    Bollinger Bands

    Upper Band$196.44
    Lower Band$167.47
    %B Position1592%(Upper)
    Band Width0.50

    RSI (14-Day)

    Neutral
    53.4

    Momentum Oscillators

    Stoch %K58.1
    Stoch %D72.3
    Williams %R-55.2
    ROC (10d)1.8%
    Momentum3.19
    CCI (20d)-5.2
    MFI (14d)45.9

    Volatility Measures

    ATR (14d)$6.09(3.4%)
    StdDev (20d)7.24
    Hist Vol32.0%(Moderate)

    Volume Flow

    VWAP$181.09
    OBV184.9M
    AD Line349.3M
    CMF (20d)0.137

    Volume Metrics

    Avg Vol (20d)3.8M
    Vol Ratio1.0x
    VWMA (20d)$180.44

    Pivot Points

    R3$193.59
    R2$191.49
    R1$187.77
    Pivot Point$185.67
    S1$181.95
    S2$179.85
    S3$176.13

    Advanced Oscillators

    TSI26.37
    Ultimate Osc46.6
    KST136.05

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$2.05B$1.85B$1.91B$1.72B$1.63B$1.54B$1.66B$1.51B$1.43B$1.35B$1.42B$1.33B
    Cost of Revenue$404.70M$364.50M$389.20M$331.70M$314.90M$293.10M$314.50M$263.40M$275.00M$304.70M$315.90M$317.70M
    Gross Profit$1.64B$1.49B$1.52B$1.39B$1.32B$1.25B$1.35B$1.24B$1.16B$1.05B$1.10B$1.02B
    Operating Expenses$953.90M$905.10M$890.20M$845.90M$857.10M$792.80M$771.50M$773.80M$722.10M$727.40M$713.80M$713.70M
    R&D$225.00M$214.00M$205.00M$202.40M$209.50M$198.60M$191.10M$187.30M$165.40M$173.00M$152.50M$156.90M
    SG&A$61.10M$56.20M$57.30M$61.40M$56.90M$57.80M$55.10M$71.70M$56.60M$54.40M$55.10M$53.50M
    Operating Income$689.30M$580.00M$625.60M$547.30M$458.00M$453.80M$574.10M$470.90M$437.20M$321.20M$385.40M$303.20M
    Interest Income$33.20M$32.90M$32.30M$40.70M$45.00M$44.30M$42.30M$42.40M$38.30M$32.20M$30.50M$37.00M
    Interest Expense$3.20M$4.20M$4.40M$6.20M$4.60M$4.90M$4.90M$5.00M$5.00M$5.10M$5.40M$5.40M
    Income Before Tax$720.20M$656.60M$650.80M$594.80M$517.30M$519.30M$618.40M$626.40M$468.30M$345.40M$415.60M$327.80M
    Income Tax Expense$115.00M$122.00M$144.80M$120.70M$77.10M$96.50M$86.70M$81.20M$76.50M$39.50M$95.20M$-300,000
    Net Income$606.30M$534.50M$506.00M$473.90M$440.10M$433.40M$526.20M$539.90M$379.80M$299.30M$310.90M$322.90M
    EBITDA$823.80M$757.10M$746.30M$676.80M$588.10M$583.40M$680.10M$680.00M$524.20M$406.70M$479.50M$382.30M
    EBIT$690.20M$627.90M$622.90M$560.30M$476.90M$479.90M$581.00M$589.00M$435.00M$318.30M$390.50M$296.20M
    * Some calculated fields are derived from available data when not provided by source

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    News

    Milestone Asset Management LLC Acquires New Stake in Fortinet, Inc. $FTNT

    Milestone Asset Management LLC has acquired a new stake in Fortinet, Inc. (NASDAQ:FTNT), purchasing 57,520 shares valued at approximately $10.28 million. Fortinet continues to show strong revenue growth and earnings that...

    MarketBeat•10/16/26•Neutral

    Fortinet, Inc. (FTNT) options chain

    This article provides a detailed options chain for Fortinet, Inc. (FTNT) as of October 16, 2026. It lists various call and put options with different strike prices, last trade dates, last prices, bid/ask, volume...

    Yahoo Finance UK•10/16/26•Neutral

    Fortinet, Inc. $FTNT Stock Sold by Davidson Capital Management Inc.

    Davidson Capital Management Inc. reduced its stake in Fortinet (NASDAQ:FTNT) by 20.9% in the third quarter, selling 12,303 shares and retaining 46,518 shares valued at $8.3 million. Despite Fortinet reporting...

    MarketBeat•10/16/26•Neutral

    Fortinet, Inc. $FTNT Stock Holdings Decreased by First Merchants Corp

    First Merchants Corp reduced its stake in Fortinet (NASDAQ:FTNT) by 25% in the third quarter, selling 24,446 shares and holding 73,264 shares valued at $13.1 million. Despite this...

    MarketBeat•10/16/26•Neutral

    Fortinet, Inc. $FTNT Stock: Barlow Wealth Partners LLC Cuts Position

    Barlow Wealth Partners LLC decreased its stake in Fortinet (NASDAQ:FTNT) by 11.8% in the third quarter, reducing its holdings to 138,986 shares valued at $26.6 million. Despite this...

    MarketBeat•10/16/26•Neutral

    FTNT Valuation and Fair Value

    P/E
    58.9x
    Forward P/E
    45.0x
    EV/EBITDA
    43.6x
    P/FCF
    42.8x
    PEG
    1.9x
    P/B
    86.0x
    See GNG's fair value

    FTNT Profitability: Margins, ROIC and FCF

    Gross margin
    80.2%
    Operating margin
    33.6%
    Net margin
    28.2%
    ROIC
    98.7%
    ROE
    117.4%
    FCF margin
    41.4%
    FCF yield
    2.3%

    FTNT Competitors

    CompanyTicker
    Western Digital CorporationWDC
    Accenture plcACN
    Uber Technologies IncUBER
    Corning IncorporatedGLW
    Sony Group CorpSONY
    Snowflake Inc.SNOW
    ServiceNow IncNOW
    Cloudflare IncNET

    Sector: Technology

    FTNT Analyst Ratings

    Consensus
    Hold
    Analysts
    44
    Strong Buy
    1
    Buy
    8
    Hold
    31
    Sell
    3
    Strong Sell
    1

    FTNT Bull Case vs Bear Case

    Bull case

    • FTNT earns a 98.7% return on invested capital.
    • FTNT converts 41.4% of revenue into free cash flow.
    • FTNT has a 28.2% net profit margin.

    Bear case

    • FTNT trades at 58.9x trailing earnings.

    FTNT Earnings: Beat Rate and Next Report

    Beat rate
    8 of 8 quarters (100.0%)
    Average surprise
    17.9%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $0.86
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    36 up, 0 down

    Frequently Asked Questions About FTNT

    Does FTNT pay dividends?

    Fortinet Inc (FTNT) does not currently pay a regular dividend.

    What is FTNT's P/E ratio?

    Fortinet Inc has a price-to-earnings (P/E) ratio of 58.87.

    What is FTNT's market cap?

    Fortinet Inc (FTNT) has a market capitalization of $135.04B with a current stock price of $181.91.

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