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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) P/E ratio

Alert me on P/E ratio

As of 5 November 2026, Fortinet, Inc. (FTNT) trades at a P/E ratio of 39.5×. Over the past ten years it has ranged from 29.4× (August 2025) to 1,320× (October 2016); the current reading is higher than 16% of that period. That is above the Software Infrastructure industry median of 24.4× and above the Technology sector median of 25.7×.

P/E ratio, daily

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Annual newest first

Period P/E ratio Change
FY2025 32.5× (21.12%)
FY2024 41.3× 5.68%
FY2023 39.0× (12.94%)
FY2022 44.8× (53.58%)
FY2021 96.6× 92.51%
FY2020 50.2× (10.21%)
FY2019 55.9× 55.49%
FY2018 35.9× (86.22%)
FY2017 261× 66.84%
FY2016 156× (74.90%)

Quarterly newest first

Period P/E ratio Change
Sep 2026 57.7× 7.36%
Jun 2026 53.7× 70.89%
Mar 2026 31.4× (3.42%)
Dec 2025 32.5× (5.17%)
43 more quarters

Against its own ten years

Low 29.4× High 1,320×
Ten-year median 59.5×
Current reading's percentile 17

P/E ratio against peers

Company P/E ratio
NET Cloudflare, Inc. compare n/m
ZS Zscaler, Inc. compare n/m
NTAP NetApp, Inc. compare 23.8×
FTNT Fortinet, Inc. 39.5×
SNPS Synopsys, Inc. compare 77.5×
OKTA Okta, Inc. compare 102×
XYZ Block, Inc. compare 112×
NBIS Nebius Group N.V. compare 466×
CRWD CrowdStrike compare 6,187×
Software Infrastructure industry median 24.4×
Technology sector median 25.7×
Market median 17.9×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

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