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%

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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 Segments Valuation Filings

Fortinet, Inc. (FTNT) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Fortinet, Inc. (FTNT) trades at a P/B ratio of 40.0×. Over the past ten years it has ranged from 0.0× (June 2024) to 5,159× (June 2023); the current reading is higher than 67% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.5×.

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<iframe src="https://stockrow.com/embed/FTNT/pb-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Fortinet, Inc. P/B ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/FTNT/metrics/pb-ratio">Fortinet, Inc. (FTNT) P/B ratio — stockrow.com</a></p>

Period	P/B ratio	Change
FY2025	48.6×	0.61%
FY2024	48.3×	—
FY2023	0.0×	—
FY2022	0.0×	—
FY2021	73.5×	157.85%
FY2020	28.5×	109.55%
FY2019	13.6×	15.31%
FY2018	11.8×	(10.08%)
FY2017	13.1×	111.47%
FY2016	6.2×	(11.73%)

Period	P/B ratio	Change
Sep 2026	58.4×	(19.55%)
Jun 2026	72.6×	19.02%
Mar 2026	61.0×	25.42%
Dec 2025	48.6×	(43.71%)
43 more quarters	Free account

Against its own ten years

Low 0.0× High 5,159×

Ten-year median 14.9×

Current reading's percentile 59

Company	P/B ratio
XYZ Block, Inc. compare	2.2×
SNPS Synopsys, Inc. compare	2.7×
NBIS Nebius Group N.V. compare	3.3×
OKTA Okta, Inc. compare	4.3×
ZS Zscaler, Inc. compare	12.6×
NTAP NetApp, Inc. compare	22.4×
FTNT Fortinet, Inc.	40.0×
CRWD CrowdStrike compare	43.2×
NET Cloudflare, Inc. compare	59.6×
Software Infrastructure industry median	2.9×
Technology sector median	2.5×
Market median	1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

Fortinet, Inc. (FTNT) P/B ratio

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on FTNT

P/B ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/B ratio against peers

What P/B ratio is

More on FTNT

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