Fortinet Inc FTNT

Morningstar Rating
$189.10 −0.18 (0.10%)
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Company Report

Fortinet Is a Leading Security Vendor With Solutions Spanning Hardware and Software

We see Fortinet as a leader in the security space with solutions ranging from network security firewalls to security operations. As we look at the firm’s market opportunity, we believe Fortinet stands to materially benefit as secular tailwinds in security and vendor consolidation increase its value proposition to its clients. In our view, the firm’s established customer switching costs, buttressed by its increasingly potent network effect, will allow Fortinet to continuously gain and expand the number of clients and have already enabled it to build a wide economic moat around its business.

Price vs Fair Value

FTNT is trading at a LOCK|&@B#Md premium.
Price
$189.10
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Fortinet has strong secular tailwinds as endpoint security, cloud security, and the convergence of networking and security are projected to grow rapidly.

Bears

Large public cloud vendors often offer their own cybersecurity solutions, which could hamper Fortinet’s growth opportunities.

News

Articles & Videos

Trading Information

Previous Close Price
$189.28
Day Range
$187.83–191.50
52-Week Range
$73.55–192.41
Bid/Ask
$189.00 / $189.72
Shares Outstanding
733.71M
Market Cap
$138.75B
Volume/Avg
4M / 5M

Key Statistics

Price/Earnings (Normalized)
57.89
Price/Sales
18.79
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
2.01%

Company Profile

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.
Sector
Technology
Industry
Software - Infrastructure
Stock Style Box
Large Growth
Total Number of Employees
15,472

Competitors

Valuation

Metric
FTNT
PANW
CRWD
Price/Earnings (Normalized)
57.89104.05238.02
Price/Book Value
89.3211.8152.78
Price/Sales
18.7926.5249.86
Price/Cash Flow
49.3876.61131.16
Price/Earnings
FTNT
PANW
CRWD

Financial Strength

Metric
FTNT
PANW
CRWD
Quick Ratio
1.140.731.37
Current Ratio
1.280.871.57
Interest Coverage
138.96—−2.96
Quick Ratio
FTNT
PANW
CRWD

Profitability

Metric
FTNT
PANW
CRWD
Return on Assets (Normalized)
23.08%8.79%10.64%
Return on Equity (Normalized)
179.51%18.08%26.00%
Return on Invested Capital (Normalized)
107.16%15.20%19.39%
Return on Assets
FTNT
PANW
CRWD

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