FORTINET INC (1FTNT.MI) Fundamental Analysis & Valuation

BIT:1FTNT • US34959E1091

Current stock price

66.19 EUR
-5.12 (-7.18%)
Last:

This 1FTNT.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. 1FTNT.MI Profitability Analysis

1.1 Basic Checks

  • 1FTNT had positive earnings in the past year.
  • In the past year 1FTNT had a positive cash flow from operations.
  • Each year in the past 5 years 1FTNT has been profitable.
  • In the past 5 years 1FTNT always reported a positive cash flow from operatings.
1FTNT.MI Yearly Net Income VS EBIT VS OCF VS FCF1FTNT.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • 1FTNT has a better Return On Assets (17.84%) than 89.92% of its industry peers.
  • Looking at the Return On Equity, with a value of 149.77%, 1FTNT belongs to the top of the industry, outperforming 99.16% of the companies in the same industry.
  • 1FTNT has a Return On Invested Capital of 32.34%. This is amongst the best in the industry. 1FTNT outperforms 94.96% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for 1FTNT is significantly above the industry average of 12.32%.
  • The 3 year average ROIC (29.46%) for 1FTNT is below the current ROIC(32.34%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 17.84%
ROE 149.77%
ROIC 32.34%
ROA(3y)17.18%
ROA(5y)15.11%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)29.46%
ROIC(5y)25.79%
1FTNT.MI Yearly ROA, ROE, ROIC1FTNT.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 -100 -200 -300

1.3 Margins

  • 1FTNT has a better Profit Margin (27.26%) than 90.76% of its industry peers.
  • In the last couple of years the Profit Margin of 1FTNT has grown nicely.
  • 1FTNT's Operating Margin of 30.51% is amongst the best of the industry. 1FTNT outperforms 85.71% of its industry peers.
  • 1FTNT's Operating Margin has improved in the last couple of years.
  • The Gross Margin of 1FTNT (80.46%) is better than 69.75% of its industry peers.
  • 1FTNT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 30.51%
PM (TTM) 27.26%
GM 80.46%
OM growth 3Y11.77%
OM growth 5Y9.99%
PM growth 3Y11.99%
PM growth 5Y7.68%
GM growth 3Y2.17%
GM growth 5Y0.61%
1FTNT.MI Yearly Profit, Operating, Gross Margins1FTNT.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

8

2. 1FTNT.MI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 1FTNT is creating value.
  • The number of shares outstanding for 1FTNT has been reduced compared to 1 year ago.
  • The number of shares outstanding for 1FTNT has been reduced compared to 5 years ago.
  • 1FTNT has a better debt/assets ratio than last year.
1FTNT.MI Yearly Shares Outstanding1FTNT.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
1FTNT.MI Yearly Total Debt VS Total Assets1FTNT.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • An Altman-Z score of 5.11 indicates that 1FTNT is not in any danger for bankruptcy at the moment.
  • 1FTNT has a Altman-Z score of 5.11. This is in the better half of the industry: 1FTNT outperforms 73.11% of its industry peers.
  • The Debt to FCF ratio of 1FTNT is 0.45, which is an excellent value as it means it would take 1FTNT, only 0.45 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of 1FTNT (0.45) is better than 84.03% of its industry peers.
  • 1FTNT has a Debt/Equity ratio of 0.40. This is a healthy value indicating a solid balance between debt and equity.
  • With a Debt to Equity ratio value of 0.40, 1FTNT perfoms like the industry average, outperforming 41.18% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 0.45
Altman-Z 5.11
ROIC/WACC3.05
WACC10.6%
1FTNT.MI Yearly LT Debt VS Equity VS FCF1FTNT.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B 2B

2.3 Liquidity

  • 1FTNT has a Current Ratio of 1.17. This is a normal value and indicates that 1FTNT is financially healthy and should not expect problems in meeting its short term obligations.
  • 1FTNT has a worse Current ratio (1.17) than 68.07% of its industry peers.
  • 1FTNT has a Quick Ratio of 1.09. This is a normal value and indicates that 1FTNT is financially healthy and should not expect problems in meeting its short term obligations.
  • 1FTNT's Quick ratio of 1.09 is on the low side compared to the rest of the industry. 1FTNT is outperformed by 68.91% of its industry peers.
  • The current and quick ratio evaluation for 1FTNT is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.17
Quick Ratio 1.09
1FTNT.MI Yearly Current Assets VS Current Liabilites1FTNT.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. 1FTNT.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 16.88% over the past year.
  • The Earnings Per Share has been growing by 32.75% on average over the past years. This is a very strong growth
  • 1FTNT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.17%.
  • Measured over the past years, 1FTNT shows a very strong growth in Revenue. The Revenue has been growing by 21.25% on average per year.
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
Revenue 1Y (TTM)14.17%
Revenue growth 3Y15.46%
Revenue growth 5Y21.25%
Sales Q2Q%14.75%

3.2 Future

  • 1FTNT is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.59% yearly.
  • Based on estimates for the next years, 1FTNT will show a quite strong growth in Revenue. The Revenue will grow by 11.54% on average per year.
EPS Next Y9.69%
EPS Next 2Y10.43%
EPS Next 3Y11.2%
EPS Next 5Y7.59%
Revenue Next Year12.53%
Revenue Next 2Y11.51%
Revenue Next 3Y10.83%
Revenue Next 5Y11.54%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
1FTNT.MI Yearly Revenue VS Estimates1FTNT.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B
1FTNT.MI Yearly EPS VS Estimates1FTNT.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6

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Find the best growth stocksShow best growing peers

4

4. 1FTNT.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 27.93 indicates a quite expensive valuation of 1FTNT.
  • Based on the Price/Earnings ratio, 1FTNT is valued a bit cheaper than the industry average as 60.50% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 26.64. 1FTNT is around the same levels.
  • 1FTNT is valuated quite expensively with a Price/Forward Earnings ratio of 25.51.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of 1FTNT is on the same level as its industry peers.
  • 1FTNT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.36, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 27.93
Fwd PE 25.51
1FTNT.MI Price Earnings VS Forward Price Earnings1FTNT.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 1FTNT's Enterprise Value to EBITDA ratio is in line with the industry average.
  • 61.34% of the companies in the same industry are more expensive than 1FTNT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 25.77
EV/EBITDA 24.11
1FTNT.MI Per share data1FTNT.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates 1FTNT does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of 1FTNT may justify a higher PE ratio.
PEG (NY)2.88
PEG (5Y)0.85
EPS Next 2Y10.43%
EPS Next 3Y11.2%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. 1FTNT.MI Dividend Analysis

5.1 Amount

  • 1FTNT does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

1FTNT.MI Fundamentals: All Metrics, Ratios and Statistics

FORTINET INC

BIT:1FTNT (4/15/2026, 7:00:00 PM)

66.19

-5.12 (-7.18%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Industry Strength6.83
Industry Growth86.34
Earnings (Last)02-05
Earnings (Next)05-06
Inst Owners71.44%
Inst Owner ChangeN/A
Ins Owners17.43%
Ins Owner ChangeN/A
Market Cap48.98B
Revenue(TTM)6.80B
Net Income(TTM)1.85B
Analysts67.06
Price Target76.35 (15.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11%
Min EPS beat(2)7.16%
Max EPS beat(2)14.84%
EPS beat(4)4
Avg EPS beat(4)8.7%
Min EPS beat(4)6.18%
Max EPS beat(4)14.84%
EPS beat(8)8
Avg EPS beat(8)15.03%
EPS beat(12)12
Avg EPS beat(12)14.29%
EPS beat(16)16
Avg EPS beat(16)14.02%
Revenue beat(2)1
Avg Revenue beat(2)-0.17%
Min Revenue beat(2)-0.75%
Max Revenue beat(2)0.42%
Revenue beat(4)1
Avg Revenue beat(4)-0.99%
Min Revenue beat(4)-1.99%
Max Revenue beat(4)0.42%
Revenue beat(8)3
Avg Revenue beat(8)-0.33%
Revenue beat(12)4
Avg Revenue beat(12)-0.57%
Revenue beat(16)6
Avg Revenue beat(16)-0.32%
PT rev (1m)-3.4%
PT rev (3m)0.55%
EPS NQ rev (1m)0.13%
EPS NQ rev (3m)-4.79%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)1.68%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)0.63%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.21%
Valuation
Industry RankSector Rank
PE 27.93
Fwd PE 25.51
P/S 8.44
P/FCF 25.77
P/OCF 22.14
P/B 46.35
P/tB 64.97
EV/EBITDA 24.11
EPS(TTM)2.37
EY3.58%
EPS(NY)2.59
Fwd EY3.92%
FCF(TTM)2.57
FCFY3.88%
OCF(TTM)2.99
OCFY4.52%
SpS7.85
BVpS1.43
TBVpS1.02
PEG (NY)2.88
PEG (5Y)0.85
Graham Number8.7263 (-86.82%)
Profitability
Industry RankSector Rank
ROA 17.84%
ROE 149.77%
ROCE 38.73%
ROIC 32.34%
ROICexc 97.69%
ROICexgc 122.12%
OM 30.51%
PM (TTM) 27.26%
GM 80.46%
FCFM 32.73%
ROA(3y)17.18%
ROA(5y)15.11%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)29.46%
ROIC(5y)25.79%
ROICexc(3y)95.09%
ROICexc(5y)84.5%
ROICexgc(3y)117.15%
ROICexgc(5y)104.17%
ROCE(3y)35.29%
ROCE(5y)30.89%
ROICexgc growth 3Y4.58%
ROICexgc growth 5Y-5.51%
ROICexc growth 3Y4.41%
ROICexc growth 5Y-2.11%
OM growth 3Y11.77%
OM growth 5Y9.99%
PM growth 3Y11.99%
PM growth 5Y7.68%
GM growth 3Y2.17%
GM growth 5Y0.61%
F-Score6
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 0.45
Debt/EBITDA 0.22
Cap/Depr 240%
Cap/Sales 5.37%
Interest Coverage 250
Cash Conversion 116.36%
Profit Quality 120.09%
Current Ratio 1.17
Quick Ratio 1.09
Altman-Z 5.11
F-Score6
WACC10.6%
ROIC/WACC3.05
Cap/Depr(3y)242.84%
Cap/Depr(5y)269.75%
Cap/Sales(3y)5.19%
Cap/Sales(5y)6.16%
Profit Quality(3y)126.21%
Profit Quality(5y)149.21%
High Growth Momentum
Growth
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
EPS Next Y9.69%
EPS Next 2Y10.43%
EPS Next 3Y11.2%
EPS Next 5Y7.59%
Revenue 1Y (TTM)14.17%
Revenue growth 3Y15.46%
Revenue growth 5Y21.25%
Sales Q2Q%14.75%
Revenue Next Year12.53%
Revenue Next 2Y11.51%
Revenue Next 3Y10.83%
Revenue Next 5Y11.54%
EBIT growth 1Y14.11%
EBIT growth 3Y29.06%
EBIT growth 5Y33.37%
EBIT Next Year18.07%
EBIT Next 3Y14.13%
EBIT Next 5Y14.02%
FCF growth 1Y18.44%
FCF growth 3Y15.37%
FCF growth 5Y18.37%
OCF growth 1Y14.72%
OCF growth 3Y14.39%
OCF growth 5Y19.04%

FORTINET INC / 1FTNT.MI Fundamental Analysis FAQ

What is the fundamental rating for 1FTNT stock?

ChartMill assigns a fundamental rating of 7 / 10 to 1FTNT.MI.


What is the valuation status of FORTINET INC (1FTNT.MI) stock?

ChartMill assigns a valuation rating of 3 / 10 to FORTINET INC (1FTNT.MI). This can be considered as Overvalued.


What is the profitability of 1FTNT stock?

FORTINET INC (1FTNT.MI) has a profitability rating of 9 / 10.


What are the PE and PB ratios of FORTINET INC (1FTNT.MI) stock?

The Price/Earnings (PE) ratio for FORTINET INC (1FTNT.MI) is 27.93 and the Price/Book (PB) ratio is 46.35.