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

120.42 2.09 −1.71%

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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/S ratio

Alert me on P/S ratio

As of 5 November 2026, Fortinet, Inc. (FTNT) trades at a P/S ratio of 11.4×. Over the past ten years it has ranged from 4.0× (February 2016) to 19.2× (December 2021); the current reading is higher than 77% of that period. That is above the Software Infrastructure industry median of 2.8× and above the Technology sector median of 2.6×.

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

Period	P/S ratio	Change
FY2025	8.9×	(27.00%)
FY2024	12.1×	42.99%
FY2023	8.5×	(2.44%)
FY2022	8.7×	(50.47%)
FY2021	17.6×	86.68%
FY2020	9.4×	11.40%
FY2019	8.4×	27.84%
FY2018	6.6×	27.66%
FY2017	5.2×	26.95%
FY2016	4.1×	(22.54%)

Period	P/S ratio	Change
Sep 2026	16.7×	11.31%
Jun 2026	15.0×	76.18%
Mar 2026	8.5×	(4.07%)
Dec 2025	8.9×	(8.65%)
43 more quarters	Free account

Against its own ten years

Low 4.0× High 19.2×

Ten-year median 8.8×

Current reading's percentile 74

Company	P/S ratio
XYZ Block, Inc. compare	2.0×
NTAP NetApp, Inc. compare	4.5×
SNPS Synopsys, Inc. compare	9.0×
OKTA Okta, Inc. compare	9.7×
ZS Zscaler, Inc. compare	9.8×
FTNT Fortinet, Inc.	11.4×
NBIS Nebius Group N.V. compare	25.0×
NET Cloudflare, Inc. compare	32.0×
CRWD CrowdStrike compare	41.1×
Software Infrastructure industry median	2.8×
Technology sector median	2.6×
Market median	1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

Fortinet, Inc. (FTNT) P/S ratio

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on FTNT

P/S ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/S ratio against peers

What P/S ratio is

More on FTNT

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