Fortinet (FTNT US)
FTNT US$174.71
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 174.71
- Change
- ▼ -10.29 (-5.56)
- Bid / Ask
- 135.10 - 135.98
- Volume
- 3,396,525
- Turnover
- 173,370,290
- Open
- 184.50
- Day Range
- 173.02 - 185.13
- VWAP
- 178.19
- Prev Close
- 185.00
- Last Trade
- 28/10 4:00pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Technology
- Shares Issued
- 733,713,653
- NTA/Share
- 1.19
- Last Dividend
- —
- Dividend Ex Date
- —
- Dividend Pay Date
- —
Current (USD) · FY2025
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 6,799.60
- EBITDA
- 2,292.00
- Profit
- 1,853.40
- Earnings Per Share (EPS)
- 2.42
- Dividend Per Share (DPS)
- —
- Yield %
- 0.00
- Market Cap
- 128,187.11
- Price to Earnings Ratio (P/E)
- 61.73
Estimates (USD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 9,255.60
- EBITDA
- 3,912.27
- Profit
- 2,915.46
- Earnings Per Share (EPS)
- 3.95
- Dividend Per Share (DPS)
- 0.00
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Overvalued
- Economic Moat
- Wide
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 119.29 Fair value 147.16 One-star price 181.55
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 147.16
- Price / Fair Value
- 1.18
- Valuation
- Overvalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 28 OCT 2026. The slider runs from the five-star price (119.29) to the one-star price (181.55).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 174.71 |
| Price - 12 month high | 196.79 |
| Price - 12 month low | 73.60 |
| Pricing date | 27 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 3.87 |
| Market capitalization | 127,724.87 |
| 12 Month High price date | 13 OCT 2026 |
| 12 Month Low price date | 20 JAN 2026 |
| Volume - avg. trading volume for the last 3 months | 4.45 |
| Price - 1 Day % Change | -5.56% |
| Price - 13 week price percent change | 16.49% |
| Price - 26 week price percent change | 103.81% |
| Price - 5 Day % Change | 0.38% |
| Price - 52 week price percent change | 103.46% |
| Price - YTD price percent change | 117.54% |
| Price % Change Month To Date | -0.92% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 2.420 |
| EPS excluding extraordinary items - trailing 12 month | 2.830 |
| EPS Normalized - most recent fiscal year | 2.760 |
| Revenue/share - most recent fiscal year | 8.893 |
| Revenue/share - trailing 12 month | 10.065 |
| Book value per share - most recent fiscal year | 1.666 |
| Book value per share - most recent quarter | 2.117 |
| Book value (tangible) per share - most recent fiscal year | 1.188 |
| Book value (tangible) per share - most recent quarter | 1.661 |
| Cash per share - most recent fiscal year | 3.358 |
| Cash per share - most recent quarter | 4.006 |
| Cash Flow per share - most recent fiscal year | 3.315 |
| Cash Flow per share - trailing 12 month | 3.830 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 3.557 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 2.450 |
| EPS Basic excluding extraordinary items - trailing 12 month | 2.860 |
| EPS including extraordinary items - most recent fiscal year | 2.450 |
| EPS including extraordinary items - trailing 12 month | 2.860 |
| Free Cash Flow per share - trailing 12 month | 3.456 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 56.89 |
| P/E Normalized, most recent fiscal year | 51.26 |
| Price to sales - most recent fiscal year | 16.42 |
| Price to Tangible Book - most fiscal year | 67.27 |
| Price to Free Cash Flow per Share - most recent fiscal year | 46.03 |
| Price to Cash Flow per share - trailing 12 month | 42.19 |
| Price to Book - most recent fiscal year | 56.85 |
| P/E excluding extraordinary items high, trailing 12 months | 68.82 |
| P/E excluding extraordinary items low, trailing 12 months | 31.02 |
| Net Debt, LFI | -3,572.70 |
| Net Debt, LFY | -2,586.20 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 2,170.00 |
| LT debt/equity - most recent fiscal year | 40.13% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 80.51% |
| LT debt/equity - most recent quarter | 32.04% |
| Total debt/total equity - most recent quarter | 32.04% |
| Free Cash Flow - trailing 12 month | 2,584.80 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 6,799.60 |
| Revenue - trailing 12 month | 7,527.40 |
| EBITD - most recent fiscal year | 2,292.00 |
| EBITD - trailing 12 month | 2,660.40 |
| Earnings before taxes - most recent fiscal year | 2,282.20 |
| Earnings before taxes - trailing 12 month | 2,622.40 |
| Net Income available to common - most recent fiscal year | 1,853.40 |
| Net Income available to common - trailing 12 months | 2,120.70 |
| Earnings before taxes Normalized - most recent fiscal year | 2,561.70 |
| Net Income Available to Common, Normalized - most recent fiscal year | 2,107.10 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 3.15 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 27.26% |
| Net Profit Margin % - trailing 12 month | 28.17% |
| Operating margin - 1st historical fiscal year | 30.66% |
| Operating margin - trailing 12 month | 32.44% |
| Pretax margin - trailing 12 month | 34.84% |
| Pretax margin - 1st historical fiscal year | 33.56% |
| Operating Margin - 5 year average | 25.15% |
| Pretax Margin - 5 year average | 26.74% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 29.29% |
| Free Operating Cash Flow/Revenue, TTM | 34.34% |
| Net Profit Margin - 5 year average | 23.15% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 18.33% |
| Return on average assets - trailing 12 month | 20.74% |
| Return on average equity - most recent fiscal year | 123.73% |
| Return on average equity - trailing 12 month | 161.30% |
| Return on average assets - 5 year average | 16.69% |
| Return on average equity - 5 year average | 191.52% |
| Net Income/employee - most recent fiscal year | 122,668.61 |
| Revenue/employee - most recent fiscal year | 450,036.40 |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 21.25% |
| EPS growth rate, 5 year | 33.07% |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 23.50% |
| Growth rate% - Revenue, 3 year | 15.46% |
| Growth rate% - EPS, 3 year | 31.68% |
| Book value per share growth rate, 5 year | 9.59% |
| Capital Spending growth rate, 5 year | 23.71% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 31.06% |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
Announcements are available for ASX-listed companies only.
Opinion
No opinions for this company yet.
Action
No actions for this company yet.
Business Summary
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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