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Friday 6 November 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.

Revenue
+20.5%
EPS
+38.1%
Free cash flow
+55.4%
Total debt
−50.1%

Quarter to September 2026, against a year earlier

122.42 6.97 −5.39%
Market cap
$90.0B
P/E
39.5×
Fwd P/E
42.2×
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 Valuation Filings

Fortinet, Inc. (FTNT) EV/Sales

Alert me on EV/Sales

As of 5 November 2026, Fortinet, Inc. (FTNT) trades at a EV/Sales of 10.9×. Over the past ten years it has ranged from 3.1× (February 2016) to 18.6× (December 2021); the current reading is higher than 76% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.6×.

EV/Sales, daily

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Annual newest first

Period EV/Sales Change
FY2025 8.5× (27.06%)
FY2024 11.6× 41.42%
FY2023 8.2× (2.49%)
FY2022 8.4× (50.71%)
FY2021 17.1× 96.14%
FY2020 8.7× 16.09%
FY2019 7.5× 31.98%
FY2018 5.7× 31.23%
FY2017 4.3× 34.50%
FY2016 3.2× (26.36%)

Quarterly newest first

Period EV/Sales Change
Sep 2026 16.2× 11.12%
Jun 2026 14.6× 78.15%
Mar 2026 8.2× (3.58%)
Dec 2025 8.5× (9.55%)
43 more quarters

Against its own ten years

Low 3.1× High 18.6×
Ten-year median 8.2×
Current reading's percentile 74

EV/Sales against peers

Company EV/Sales
XYZ Block, Inc. compare 2.0×
NTAP NetApp, Inc. compare 4.4×
OKTA Okta, Inc. compare 9.2×
ZS Zscaler, Inc. compare 9.6×
SNPS Synopsys, Inc. compare 9.7×
FTNT Fortinet, Inc. 10.9×
NBIS Nebius Group N.V. compare 25.4×
NET Cloudflare, Inc. compare 32.1×
CRWD CrowdStrike compare 40.4×
Software Infrastructure industry median 2.9×
Technology sector median 2.6×
Market median 2.1×

What EV/Sales is

EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.

((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)) ÷ Revenue (TTM)

The full definition of EV/Sales →

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