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Friday 6 November 2026
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Fortinet, Inc.
FTNT Technology Software Infrastructure
Fortinet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.8 billion, up 14.2% from fiscal 2024.
- Revenue
- +20.5%
- EPS
- +37.4%
- Free cash flow
- +55.4%
- Total debt
- −50.1%
Quarter to September 2026, against a year earlier
118.90
3.61
−2.95%
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| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Older periods | |
|---|---|---|---|---|---|
P/E ratio |
57.75 | 53.71 | 31.43 | 32.55 |
+8 more quarters Free account |
P/S ratio |
16.65 | 14.96 | 8.49 | 8.85 | |
P/FCF ratio |
38.25 | 36.13 | 24.79 | 27.04 | |
P/Operating CF |
138.74 | 107.91 | 56.05 | 97.05 | |
P/B ratio |
58.41 | 72.61 | 61.00 | 48.64 | |
Price to Tangible BV |
69.12 | 92.57 | 93.56 | 68.18 | |
EV/Sales |
16.17 | 14.55 | 8.17 | 8.47 | |
EV/EBITDA |
40.85 | 37.20 | 21.58 | 22.69 | |
EV/Operating CF |
34.57 | 32.26 | 20.71 | 22.24 | |
EV/FCF |
37.14 | 35.14 | 23.85 | 25.88 | |
Quick Ratio |
1.23 | 1.14 | 1.03 | 1.05 | |
Current Ratio |
1.40 | 1.28 | 1.15 | 1.17 | |
Net Debt/EBITDA |
(5.13) | (4.34) | (3.95) | (3.45) | |
Debt/Assets |
4.16% | 4.58% | 5.03% | 9.59% | |
Debt/Equity |
0.22 | 0.32 | 0.50 | 0.81 | |
Asset Turnover |
0.74 | 0.70 | 0.70 | 0.67 | |
Operating CF/Net income |
1.49 | 1.72 | 2.02 | 1.23 | |
Capex/Depreciation |
(0.48) | (0.58) | (0.55) | (0.35) | |
Interest Coverage |
234.77 | 215.41 | 138.10 | 142.18 | |
Research and Development Expense of Revenue |
10.27% | 10.99% | 11.57% | 10.76% | |
Selling, General and Administrative Expense of Revenue |
34.86% | 35.66% | 37.44% | 36.04% | |
Intangible Assets out of Total Assets |
0.03 | 0.03 | 0.03 | 0.03 | |
Share Based Compensation of Revenue |
3.85% | 3.87% | 3.92% | 3.81% | |
Graham Net Nets |
(0.02) | (0.03) | (0.06) | (0.05) | |
Graham Number |
14.60 | 11.67 | 8.85 | 9.47 | |
Earnings Yield |
1.73% | 1.86% | 3.18% | 3.07% | |
Free Cash Flow Yield |
2.61% | 2.77% | 4.03% | 3.70% | |
Revenue per Share |
2.83 | 2.79 | 2.50 | 2.51 | |
Operating CF per Share |
1.29 | 1.42 | 1.46 | 0.82 | |
Capex per Share |
(0.09) | (0.11) | (0.10) | (0.06) | |
Free Cash Flow per Share |
1.20 | 1.32 | 1.36 | 0.76 | |
Cash per Share |
6.54 | 5.55 | 4.46 | 4.73 | |
Shareholders Equity per Share |
3.06 | 2.12 | 1.34 | 1.63 | |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | |
Book value per Share |
3.06 | 2.12 | 1.34 | 1.63 | |
Free Cash Flow |
881.80 | 965.60 | 1,006.50 | 577.40 | |
Working Capital |
2,020.50 | 1,367.50 | 709.10 | 866.20 | |
Capital Expenditures |
(64.20) | (78.00) | (70.60) | (42.80) | |
Net Current Asset Value |
(2,588.00) | (3,099.80) | (3,561.20) | (3,251.50) | |
EV/EBIT |
49.03 | 44.86 | 26.27 | 27.63 | |
Capex to Sales |
0.03 | 0.04 | 0.04 | 0.02 | |
Price to Operating Income |
50.49 | 46.11 | 27.31 | 28.87 | |
| Other line items | |||||
Average Receivables |
1,314.65 | 1,335.65 | 1,330.10 | 1,577.30 | |
Average Payables |
325.80 | 263.85 | 231.60 | 210.85 | |
Average Inventory |
508.90 | 415.75 | 366.15 | 357.50 | |
Average Assets |
10,652.05 | 10,750.30 | 10,145.25 | 10,076.15 | |
Average Common Equity |
1,490.95 | 1,805.75 | 1,476.30 | 1,365.65 |
Columns are period end dates · fundamentals updated 6 Nov 2026