Fortinet, Inc. (FTNT) trades at an adjusted P/E of 64.43 times and an EV/Revenue of 17.24 times.
Fortinet, Inc. (FTNT) trades at an adjusted P/E of 64.43 times and an EV/Revenue of 17.24 times. Enterprise value stands at 52.42 times EBITDA and 52.68 times free cash flow. Price to book is 95.96 times. Approximate return on invested capital for the last reported year was 83.0 %. The fiscal 2025 year-end price was 81.56 USD. The series covers 17 fiscal years, from 2009 to 2025. Multiples in the "Current" column are computed on the market price as of Aug 9, 2026; every other column uses each fiscal year's closing price. Prices and multiples are stated in USD; the underlying fundamentals come from as-reported SEC EDGAR filings.
| Beta | 1.06 |
|---|---|
| Financial statements currency | USD |
| Price currency | USD |
| Applied exchange rate | 1.00 |
| Shares outstanding | 734M |
Fiscal year end: December
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Actual | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal year-end price (USD) | 31.65 | 21.34 | 20.93 | 18.91 | 31.31 | 31.79 | 30.35 | 44.01 | 70.34 | 107.45 | 149.29 | 366.00 | 47.86 | 59.40 | 96.08 | 81.56 | 161.85 |
| Market Cap (USD) | 2.35B | 3.31B | 3.36B | 3.05B | 5.21B | 5.45B | 5.25B | 7.39B | 11.9B | 18.4B | 24.3B | 59.3B | 37.4B | 45.2B | 73.7B | 60.6B | 119B |
| Enterprise Value (USD) | — | — | — | — | — | — | — | — | — | — | 22.4B | 59.0B | 36.7B | 44.8B | 71.8B | 59.1B | 117B |
| PER | 57.08× | 52.93× | 50.21× | 69.00× | 205.63× | 682.21× | 163.13× | 235.33× | 35.66× | 55.62× | 49.66× | 97.71× | 43.63× | 39.38× | 42.23× | 32.70× | 64.07× |
| Adjusted PER | 57.08× | 52.93× | 42.62× | 53.63× | 112.89× | 295.27× | 149.28× | 79.26× | 62.62× | 55.62× | 49.66× | 96.52× | 40.45× | 37.99× | 41.53× | 32.88× | 64.43× |
| Forward PER | 37.67× | 49.49× | 75.80× | 120.53× | 652.48× | 169.22× | 167.29× | 22.06× | 36.01× | 37.77× | 39.98× | 69.16× | 32.59× | 25.90× | 39.76× | — | 42.93× |
| Adjusted forward PER | 37.67× | 42.00× | 58.92× | 66.17× | 282.40× | 154.85× | 56.35× | 38.74× | 36.01× | 37.77× | 39.49× | 64.12× | 31.43× | 25.47× | 39.98× | — | — |
| Earnings Yield (%) | 1.75 % | 1.89 % | 1.99 % | 1.45 % | 0.49 % | 0.15 % | 0.61 % | 0.42 % | 2.80 % | 1.80 % | 2.01 % | 1.02 % | 2.29 % | 2.54 % | 2.37 % | 3.06 % | 1.56 % |
| PEG | 23.89× | — | — | — | 27.77× | 2.76× | 1.39× | 1.57× | 1.63× | 1.49× | 1.51× | 2.31× | 1.49× | — | — | — | 2.28× |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | 37.33× | 80.24× | 34.18× | 33.07× | 37.28× | 26.42× | 52.42× |
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | 8.64× | 17.64× | 8.31× | 8.44× | 12.06× | 8.69× | 17.24× |
| Price / Book | 10.13× | 9.23× | 6.57× | 5.21× | 7.71× | 7.21× | 6.27× | 12.54× | 11.82× | 13.74× | 28.34× | 75.85× | -132.82× | -97.55× | 49.33× | 48.97× | 95.96× |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 23.41× | 48.98× | 25.33× | 25.87× | 38.21× | 26.55× | 52.68× |
| FCF Yield (%) | 4.23 % | 3.91 % | 4.82 % | 4.37 % | 3.15 % | 4.50 % | 5.30 % | 6.21 % | 4.91 % | 3.88 % | 3.95 % | 2.03 % | 3.88 % | 3.83 % | 2.55 % | 3.67 % | 1.87 % |
| Working capital | 202M | 257M | 250M | 322M | 509M | 592M | 709M | 690M | 965M | 1,313M | 911M | 1,283M | 732M | 709M | 1,911M | 866M | — |
| Invested capital | 232M | 358M | 511M | 586M | 676M | 755M | 838M | 589M | 1,010M | 1,342M | 856M | 1,770M | 709M | 529M | 2,488M | 2,234M | — |
| ROE (%) | 17.74 % | 17.44 % | 13.08 % | 7.56 % | 3.75 % | 1.06 % | 3.84 % | 5.33 % | 33.15 % | 24.71 % | 57.07 % | 77.63 % | -304.44 % | -247.69 % | 116.83 % | 149.77 % | 149.77 % |
| ROA (%) | 7.56 % | 8.51 % | 6.85 % | 3.79 % | 1.78 % | 0.45 % | 1.50 % | 1.39 % | 10.88 % | 8.55 % | 12.08 % | 10.25 % | 13.77 % | 15.81 % | 17.88 % | 17.84 % | 17.84 % |
| ROIC (approx.) (%) | 17.74 % | 17.44 % | 13.08 % | 7.56 % | 3.75 % | 1.06 % | 3.84 % | 5.33 % | 33.15 % | 24.71 % | 57.07 % | 34.28 % | 120.95 % | 217.02 % | 70.14 % | 82.97 % | — |
Figures in USD
