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Fortinet, Inc. (FTNT)

136.08 -3.02 (-2.17%)
At close: October 30 at 4:00:01 PM EDT
136.44 +0.36 (+0.26%)
After hours: October 30 at 7:57:20 PM EDT
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What's happening with FTNT?

57m ago
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Fortinet’s third-quarter results showed strong profitability, product demand, large enterprise deals, and billings growth. However, slower service-revenue growth and reduced service guidance drove the market’s negative reaction, with FTNT down 2.17% in the current regular session as of November 1, 2026. Management raised broader full-year revenue and billings guidance, while investors remain focused on recurring service growth and contract timing.

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  • Previous Close 139.10
  • Open 137.01
  • Bid 129.50 x 100
  • Ask 143.71 x 100
  • Day's Range 134.40 - 138.79
  • 52 Week Range 73.55 - 197.13
  • Volume 8,668,124
  • Avg. Volume 4,533,248
  • Market Cap (intraday) 99.979B
  • Beta (5Y Monthly) 1.04
  • PE Ratio (TTM) 44.47
  • EPS (TTM) 3.06
  • Earnings Date Oct 28, 2026
  • Forward Dividend & Yield -- (0.00%)
  • 1y Target Est 145.71
  • Morningstar Rating
    Rating available with Stock Picks access

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.

www.fortinet.com

15,540

Full Time Employees

December 31

Fiscal Year Ends

Performance Overview

Trailing total returns as of 10/30/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

FTNT
71.36%
S&P 500 (^GSPC)
10.73%

1-Year Return

FTNT
61.62%
S&P 500 (^GSPC)
11.11%

3-Year Return

FTNT
141.62%
S&P 500 (^GSPC)
81.91%

5-Year Return

FTNT
102.30%
S&P 500 (^GSPC)
64.59%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized
 

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q3 FY26
Revenue 2.08B
Earnings 635.5M
Profit Margin 30.58%

Q4

FY25

Q1

FY26

Q2

FY26

Q3

FY26

0
500M
1B
2B
2B
27.0%
28.0%
29.0%
30.0%
 

Analyst Insights

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Top Analyst

TD Cowen
74/100
Latest Rating
Buy
 

Analyst Price Targets

110.00 Low
145.71 Average
136.08 Current
190.00 High
 

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell
 

Latest Rating

Date 10/30/2026
Analyst Wells Fargo
Rating Action Maintains
Rating Underweight
Price Action Lowers
Price Target 160 -> 115
 

Statistics

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Valuation Measures

Annual
As of 10/30/2026
  • Market Cap

    99.98B

  • Enterprise Value

    95.68B

  • Trailing P/E

    44.47

  • Forward P/E

    35.16

  • PEG Ratio (current)

    1.24

  • Price/Sales (ttm)

    12.83

  • Price/Book (mrq)

    44.49

  • Enterprise Value/Revenue

    12.14

  • Enterprise Value/EBITDA

    33.97

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    28.96%

  • Return on Assets (ttm)

    15.22%

  • Return on Equity (ttm)

    153.08%

  • Revenue (ttm)

    7.88B

  • Net Income Avi to Common (ttm)

    2.28B

  • Diluted EPS (ttm)

    3.06

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    4.8B

  • Total Debt/Equity (mrq)

    24.95%

  • Levered Free Cash Flow (ttm)

    2.49B

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Company Insights

Fair Value

136.08 Current
 

Dividend Score

0 Low
Sector Avg.
100 High
 

Hiring Score

0 Low
Sector Avg.
100 High
 

Insider Sentiment Score

0 Low
Sector Avg.
100 High
 

Research Reports

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  • Fortinet Earnings: Strong Cyber Demand Boosts Quarterly Sales, but Outlook Disappoints Investors

    Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 800,000 customers across the world.

     
  • Fortinet Earnings: Broad-Based Momentum and Strength Drives a Great Quarter

    Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 800,000 customers across the world.

     
  • Raising target price to $207.00

    FORTINET INC has an Investment Rating of BUY; a target price of $207.000000; an Industry Subrating of High; a Management Subrating of High; a Safety Subrating of High; a Financial Strength Subrating of High; a Growth Subrating of High; and a Value Subrating of High.

     
  • Fortinet Earnings: Broad-Based Momentum and Strength Drives a Great Quarter

    Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 800,000 customers across the world.

     

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