Fortinet, Inc. FTNT

173.46 (5.21) (2.92%) as of 25 Sep
Market cap
$130.0B
P/E
60.7×
Indexes indicate stock being part of an index,
Growth Flags show if company had growth for consecutive years

Fortinet, Inc. (FTNT) P/E ratio

As of 25 September 2026, Fortinet, Inc. (FTNT) trades at a P/E ratio of 60.7×. Over the past ten years it has ranged from 29.4× (August 2025) to 1,320× (October 2016); the current reading is higher than 51% of that period. That is above the Software Infrastructure industry median of 28.0× and above the Technology sector median of 29.7×.

P/E ratio, daily

Annual

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

Period P/E ratio Change
Jun 2026 53.7× 70.89%
Mar 2026 31.4× (3.42%)
Dec 2025 32.5× (5.17%)
Sep 2025 34.3× (17.87%)
42 more quarters

Against its own ten years

Low 29.4× High 1,320×
Ten-year median 59.8×
Current reading's percentile 51

P/E ratio against peers

Company P/E ratio
CRWV CoreWeave Inc. compare n/m
NET Cloudflare, Inc. compare n/m
TWLO Twilio Inc. compare 36.7×
FTNT Fortinet, Inc. 60.7×
SNPS Synopsys, Inc. compare 74.7×
XYZ Block, Inc. compare 132×
PANW Palo Alto Networks, Inc. compare 706×
NBIS Nebius Group N.V. compare 913×
CRWD CrowdStrike compare 7,163×
Software Infrastructure industry median 28.0×
Technology sector median 29.7×
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 →

More on FTNT