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. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for ten.
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Fortinet, Inc. (FTNT) EV/FCF
As of 6 October 2026, Fortinet, Inc. (FTNT) trades at a EV/FCF of 44.0×. Over the past ten years it has ranged from 12.8× (October 2017) to 47.5× (December 2021); the current reading is higher than 99% of that period.
EV/FCF, daily
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Annual newest first
| Period | EV/FCF | Change |
|---|---|---|
| FY2025 | 25.9× | (29.70%) |
| FY2024 | 36.8× | 46.29% |
| FY2023 | 25.2× | (1.98%) |
| FY2022 | 25.7× | (45.90%) |
| FY2021 | 47.5× | 101.04% |
| FY2020 | 23.6× | 4.06% |
| FY2019 | 22.7× | 29.48% |
| FY2018 | 17.5× | 24.13% |
| FY2017 | 14.1× | (4.37%) |
| FY2016 | 14.8× | (18.07%) |
Quarterly newest first
| Period | EV/FCF | Change |
|---|---|---|
| Jun 2026 | 35.1× | 47.38% |
| Mar 2026 | 23.8× | (7.86%) |
| Dec 2025 | 25.9× | (14.49%) |
| Sep 2025 | 30.3× | (20.47%) |
| 42 more quarters | Free account |
Against its own ten years
EV/FCF against peers
| Company | EV/FCF |
|---|---|
| NBIS Nebius Group N.V. compare | −12.0× |
| CRWV CoreWeave Inc. compare | −5.8× |
| XYZ Block, Inc. compare | 12.0× |
| SNPS Synopsys, Inc. compare | 37.5× |
| TWLO Twilio Inc. compare | 42.3× |
| FTNT Fortinet, Inc. | 44.0× |
| PANW Palo Alto Networks, Inc. compare | 76.2× |
| CRWD CrowdStrike compare | 185× |
| NET Cloudflare, Inc. compare | 393× |
What EV/FCF is
EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))
More on FTNT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement