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Saturday 17 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.

169.13 12.78 −7.03%
Market cap
$133.5B
P/E
59.1×
Fwd P/E
52.1×
Dividend yield
—
F-score
5/9
Altman Z
5.29
Beneish M
−2.64
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Fortinet, Inc. (FTNT) P/B ratio

Alert me on P/B ratio

As of 16 October 2026, Fortinet, Inc. (FTNT) trades at a P/B ratio of 79.9×. Over the past ten years it has ranged from 0.0× (June 2024) to 5,159× (June 2023); the current reading is higher than 84% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.7×.

P/B ratio, daily

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Annual newest first

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%)

Quarterly newest first

Period P/B ratio Change
Jun 2026 72.6× 19.02%
Mar 2026 61.0× 25.42%
Dec 2025 48.6× (43.71%)
Sep 2025 86.4× 120.00%
42 more quarters

Against its own ten years

Low 0.0× High 5,159×
Ten-year median 14.9×
Current reading's percentile 81

P/B ratio against peers

Company P/B ratio
XYZ Block, Inc. compare 2.1×
SNPS Synopsys, Inc. compare 2.8×
NBIS Nebius Group N.V. compare 4.5×
ORCL Oracle Corporation compare 6.1×
PANW Palo Alto Networks, Inc. compare 9.3×
NTAP NetApp, Inc. compare 26.7×
CRWD CrowdStrike compare 45.1×
NET Cloudflare, Inc. compare 64.6×
FTNT Fortinet, Inc. 79.9×
Software Infrastructure industry median 2.9×
Technology sector median 2.7×
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 →

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