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Wednesday 28 October 2026 Export FTNT’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 25.6%, EPS grew 45.6%, free cash flow grew 239.9% and total debt fell 50.1%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for ten.

185.20 1.87 +1.02%
Market cap
$135.7B
P/E
64.8×
Fwd P/E
58.6×
Dividend yield
—
F-score
5/9
Altman Z
5.29
Beneish M
−2.64
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Fortinet, Inc. (FTNT) EV/FCF

Alert me on EV/FCF

As of 27 October 2026, Fortinet, Inc. (FTNT) trades at a EV/FCF of 42.6×. Over the past ten years it has ranged from 12.8× (October 2017) to 47.5× (December 2021); the current reading is higher than 96% 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

Against its own ten years

Low 12.8× High 47.5×
Ten-year median 25.9×
Current reading's percentile 95

EV/FCF against peers

Company EV/FCF
ORCL Oracle Corporation compare −16.3×
XYZ Block, Inc. compare 11.8×
NTAP NetApp, Inc. compare 26.4×
SNPS Synopsys, Inc. compare 35.4×
FTNT Fortinet, Inc. 42.6×
ZS Zscaler, Inc. compare 52.9×
PANW Palo Alto Networks, Inc. compare 73.0×
CRWD CrowdStrike compare 178×
NET Cloudflare, Inc. compare 363×

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))

The full definition of EV/FCF →

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