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Fortinet FTNT

US equityMarket cap rank #117Software - InfrastructureCybersecurity
$179.66
+$0.92 (+0.51%)
Market open · Sep 24, 1:10 pm ET
After hours $178.96 +0.12%
Open$178.70
Prev close$178.74
Day range$176.78 – $181.36
Volume1.71M
Market cap$131.82B
P/E (TTM)63.5
Dividend yield

Price chart

Daily bars for up to one year, weekly bars for the 5-year view. Averages are 50/200 trading days (10/40 weeks on the 5-year view).

FTNT at a glance

Shares of Fortinet are up 0.51% at $179.66. The company is worth $131.82B, number 117 out of 300 on our list.

Shares are at a 52-week high, after a year that ran from $73.55 to $181.36. Holders are ahead 114.9% over twelve months, and up 23.7% across the last three months.

On the chart it holds above both the 50-day ($160.95) and 200-day ($115.25) moving averages; RSI is 62, and the last 30 sessions moved at roughly 52% annualized volatility.

In the quarter ended Jun 2026 the company brought in $2.05B of revenue, up 25.6% from a year earlier, with $606.30M of net profit (a 28.2% margin).

Buyers are paying 63.5 times trailing earnings, 17% above its five-year average of 54.3. The median for its industry group is 27.6.

27 analysts follow the stock and the average call is "hold". The mean target, $173.42, sits 3.5% under where the stock trades.

This summary is put together from the numbers on the page and updates when they do. It describes the data; it is not a forecast or a recommendation.

Fortinet: the business

Fortinet sells firewalls and other network security hardware and software, plus subscription security services.

What tends to move it. Firewall refresh cycles and growth of its cloud and subscription lines decide results. Billings are a key measure.

Written by hand by the BeStock desk and revised when a business changes. See how we work. Spot something out of date? Tell us.

Performance

Price return over each window, from adjusted daily and weekly closes

1 day
+0.5%
1 week
+4.6%
1 month
+18.2%
3 months
+23.7%
6 months
+126.4%
Year to date
+126.2%
1 year
+114.9%
Day range
$176.78$181.36
52-week range
$73.55$181.36

Technical signals

Full technicals →
Trend readStrong uptrend

7 bullish · 0 bearish of 7 signals

IndicatorValueSignal
Price vs 20-day average+8.7%Bullish
Price vs 50-day average+11.6%Bullish
Price vs 200-day average+55.9%Bullish
50-day vs 200-day50d above 200dBullish
RSI (14)61.7Bullish
MACD (12,26,9)4.21Bullish
Bollinger band position96%Bullish

Standard indicator readings worked out from daily closes. They describe how the price has behaved, not where it is going.

Key statistics

Bid / Ask$179.66 / $179.77
Average price today$180.03
Volume1.71MAvg (90d) 5.51M
Turnover$308.60M
Turnover rate0.28%of shares outstanding
Volume ratio0.53vs. recent average pace
Day amplitude2.56%
Market cap$131.82B
Float market cap$111.19B
Shares outstanding618.91M
EPS (TTM)$2.42
P/E (TTM)63.48
P/B84.99
Book value / share$2.11
Earnings yield1.34%
Net profit (TTM)$1.78B
Net assets$1.55B
30-day volatility51.7%annualized
Avg daily range (ATR)3.57%of price, 14 days
Max drawdown (1y)-14.3%2.5% from 1y peak

Quote as of Sep 24, 2026 1:10 pm ET. Prices can lag the live tape. This is background information, not a recommendation.

How FTNT ranks on BeStock

Market value#117 of 300
P/E (cheapest = 1)#256 of 283
Closeness to 52-week high#7 of 300
Dollar volume today#118 of 300

Ranks are among the 300 or so U.S.-listed stocks BeStock covers, recalculated whenever prices refresh. A row is left out when the measure does not apply, such as yield for a stock that pays no dividend.

Latest reported quarter: Q2, ended Jun 2026

Revenue$2.05B+25.6% YoY
Operating profit$689.30M+50.5% YoY
Net profit$606.30M+37.8% YoY
Diluted EPS$0.82+43.9% YoY
Free cash flow$965.60M+239.9% YoY
Operating cash flow$1.04B

Revenue, last 8 quarters

$1.5BSep '24$1.7BDec '24$1.5BMar '25$1.6BJun '25$1.7BSep '25$1.9BDec '25$1.8BMar '26$2.0BJun '26

Net profit, last 8 quarters

$539.9MSep '24$526.2MDec '24$433.4MMar '25$440.1MJun '25$473.9MSep '25$506.0MDec '25$534.5MMar '26$606.3MJun '26

Profitability & balance sheet

Gross margin80.2%
Operating margin32.4%
Net margin28.2%
Return on equity117.4%
Return on assets19.7%
Return on invested capital87.9%
Current ratio1.28
Liabilities / assets85.7%
Cash & investments$4.07B
Total debt$496.90M
Net cash (debt)$3.57B
Free cash flow / sales41.4%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Product$773.00M 37.7%
  • Security subscription$729.70M 35.6%
  • Technical support and other$545.20M 26.6%
Average move on report day±12.1%last 16 reports
Closed higher8 of 1650% of the time
Best reaction+25.3%
Worst reaction-25.1%

Stock move on the day after each report

+25.3%2024/Q2+10.0%2024/Q3+2.8%2024/Q4-8.4%2025/Q1-22.0%2025/Q2-6.3%2025/Q3+20.0%2026/Q1+0.7%2026/Q2

"Implied move" is the size of move the options market was pricing ahead of the report. Move is the stock’s change on the first session after the release.

Valuation

Multiples measured against the stock's own five-year history

Valuation detail →
Price / earnings60.7x
CheapRich

Above its usual level · 73rd percentile, 5-year average 54.3x

#2619 of 2974 stocks by PE (1 = cheapest)

Price / book81.3x
CheapRich

Above its usual level · 64th percentile, 5-year average 282.4x

#5256 of 5300 stocks by PB (1 = cheapest)

Price / sales16.7x
CheapRich

Near the top of its 5-year range · 95th percentile, 5-year average 11.7x

#4616 of 5139 stocks by PS (1 = cheapest)

P/E over five years

25x55x86x117xSep '21Mar '24Sep '26

Dashed line is the 5-year average; the shaded band is one standard deviation either side.

Morningstar fair value estimate

Fair value$143.00
Price vs. fair value+25.6%Trading above the estimate
Star rating★★★☆☆
Economic moatWide
UncertaintyVery High

Analyst view

All ratings →
ConsensusHold
Analysts27
Average target$173.42-3.5% vs. price
  • Buy 22%
  • Hold 63%
  • Sell 15%
Low $102.00Now $179.66Avg $173.42High $220.00

Latest rating actions

  • 16 Sep 2026TD CowenBUY · PT $215.00
  • 27 Aug 2026StifelHOLD · PT $175.00
  • 20 Aug 2026CitiHOLD · PT $185.00
  • 3 Aug 2026BairdHOLD · PT $165.00
  • 31 Jul 2026SIGHOLD · PT $160.00

Ownership & positioning

Who holds it, who is betting against it, and where the big money is moving

Ownership detail →
Institutional ownership71.1%-0.27 pts vs. prior quarter
Institutions holding1,945-7 vs. prior quarter
Insider trades (recent)10 buys / 5 sellsNet buying
Short interest1.85% of floatDays to cover 3.1 · as of 31 Aug 2026
Short-sale volume share16.2%5-day average of daily volume

Short-sale volume as % of daily volume

12%19%26%32%Aug '26Sep '26Sep '26

Large-order net flow, last 20 sessions

Net of large-order buying minus selling, in USD. Over this window: +$24.11M (10 inflow days, 10 outflow days).

Latest headlines

More news →
  • Fortinet(FTNT.US) Officer Sells US$9.39 Million in Common StockMarket news · 17 Sep 2026
  • TD Cowen Maintains Fortinet(FTNT.US) With Buy Rating, Maintains Target Price $215Market news · 16 Sep 2026
  • Fortinet Expands U.S. Presence With New Company-Owned Innovation Hub in New York CityGlobeNewswire · 15 Sep 2026
  • Baird Maintains Fortinet(FTNT.US) With Hold Rating, Maintains Target Price $165Market news · 4 Aug 2026
  • Stifel Maintains Fortinet(FTNT.US) With Hold Rating, Maintains Target Price $175Market news · 27 Aug 2026
  • Citi Maintains Fortinet(FTNT.US) With Hold Rating, Maintains Target Price $185Market news · 20 Aug 2026

FTNT stock: common questions

What is FTNT's latest share price?

$179.66 is the latest print for FTNT, a move of +0.51% against yesterday's close of $178.74. Today's low and high so far: $176.78 and $181.36.

How large is Fortinet by market value?

Equity value comes to $131.82B at the current price. By that measure it is number 117 of the 300 names in our coverage.

Is FTNT expensive on earnings?

Buyers pay 63.5 times the last twelve months of profit (EPS $2.42). Averaged over five years the multiple has been 54.3, and today's level ranks in the 73rd percentile of its own history.

Where does FTNT sit in its 52-week range?

The year's floor is $73.55 and the ceiling $181.36. Shares are 0.9% away from that ceiling.

Does FTNT send cash back through a dividend?

Our data shows no dividend paid by Fortinet over the trailing twelve months.

What is the analyst view on Fortinet?

Of 27 analysts, 22% say buy, 63% hold and 15% sell. Price targets average $173.42, with the most cautious at $102.00 and the most optimistic at $220.00.

What does Fortinet do?

Fortinet sells firewalls and other network security hardware and software, plus subscription security services.

BeStock publishes market data and analysis for information only. Nothing here is investment advice or a solicitation to buy or sell any security. Quotes may be delayed and figures can contain errors; check primary sources before you trade. How we source and calculate these pages.

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