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

BIT:1FTNT • US34959E1091

Current stock price

72.53 EUR
+2.97 (+4.27%)
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.
  • In the past 5 years 1FTNT has always been profitable.
  • Each year in the past 5 years 1FTNT had a positive operating cash flow.
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 Return On Assets of 20.01%. This is amongst the best in the industry. 1FTNT outperforms 92.56% of its industry peers.
  • With an excellent Return On Equity value of 254.88%, 1FTNT belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 38.77%, 1FTNT belongs to the best of the industry, outperforming 98.35% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for 1FTNT is significantly above the industry average of 13.30%.
  • The last Return On Invested Capital (38.77%) for 1FTNT is above the 3 year average (28.58%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 20.01%
ROE 254.88%
ROIC 38.77%
ROA(3y)15.82%
ROA(5y)13.96%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)28.58%
ROIC(5y)24.19%
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

  • With an excellent Profit Margin value of 28.58%, 1FTNT belongs to the best of the industry, outperforming 87.60% of the companies in the same industry.
  • 1FTNT's Profit Margin has improved in the last couple of years.
  • 1FTNT's Operating Margin of 30.86% is amongst the best of the industry. 1FTNT outperforms 85.95% of its industry peers.
  • In the last couple of years the Operating Margin of 1FTNT has grown nicely.
  • 1FTNT has a Gross Margin of 80.86%. This is in the better half of the industry: 1FTNT outperforms 66.94% of its industry peers.
  • In the last couple of years the Gross Margin of 1FTNT has remained more or less at the same level.
Industry RankSector Rank
OM 30.86%
PM (TTM) 28.58%
GM 80.86%
OM growth 3Y16.85%
OM growth 5Y13.69%
PM growth 3Y17.3%
PM growth 5Y13.83%
GM growth 3Y1.97%
GM growth 5Y1.17%
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

More info and screens

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.
  • Compared to 1 year ago, 1FTNT has less shares outstanding
  • 1FTNT has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for 1FTNT has been reduced compared to a year ago.
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

  • 1FTNT has an Altman-Z score of 5.62. This indicates that 1FTNT is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 5.62, 1FTNT is doing good in the industry, outperforming 77.69% of the companies in the same industry.
  • 1FTNT has a debt to FCF ratio of 0.49. This is a very positive value and a sign of high solvency as it would only need 0.49 years to pay back of all of its debts.
  • The Debt to FCF ratio of 1FTNT (0.49) is better than 82.64% of its industry peers.
  • A Debt/Equity ratio of 0.68 indicates that 1FTNT is somewhat dependend on debt financing.
  • 1FTNT has a worse Debt to Equity ratio (0.68) than 72.73% of its industry peers.
  • Although 1FTNT's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.68
Debt/FCF 0.49
Altman-Z 5.62
ROIC/WACC3.53
WACC10.98%
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 1.03. 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 Current ratio of 1.03 is on the low side compared to the rest of the industry. 1FTNT is outperformed by 69.42% of its industry peers.
  • 1FTNT has a Quick Ratio of 1.03. This is a bad value and indicates that 1FTNT is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.94, 1FTNT is doing worse than 75.21% of the companies in the same industry.
  • 1FTNT does not score too well on the current and quick ratio evaluation. However, as it has 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 1.03
Quick Ratio 0.94
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

More info and screens

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

4

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
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%14.75%

3.2 Future

  • Based on estimates for the next years, 1FTNT will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.21% on average per year.
  • The Revenue is expected to grow by 10.73% on average over the next years. This is quite good.
EPS Next Y8.21%
EPS Next 2Y9.75%
EPS Next 3Y6.12%
EPS Next 5Y10.21%
Revenue Next Year11.18%
Revenue Next 2Y10.92%
Revenue Next 3Y13.32%
Revenue Next 5Y10.73%

3.3 Evolution

  • Although the future EPS 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

More info and screens

Find the best growth stocksShow best growing peers

2

4. 1FTNT.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 30.22, 1FTNT can be considered very expensive at the moment.
  • 1FTNT's Price/Earnings ratio is in line with the industry average.
  • 1FTNT's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.23.
  • Based on the Price/Forward Earnings ratio of 27.94, the valuation of 1FTNT can be described as expensive.
  • 1FTNT's Price/Forward Earnings is on the same level as the industry average.
  • 1FTNT is valuated rather expensively when we compare the Price/Forward Earnings ratio to 22.42, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 30.22
Fwd PE 27.94
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as 1FTNT.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as 1FTNT.
Industry RankSector Rank
P/FCF 30.7
EV/EBITDA 27.2
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 an expensive valuation of the company.
  • The excellent profitability rating of 1FTNT may justify a higher PE ratio.
PEG (NY)3.68
PEG (5Y)0.92
EPS Next 2Y9.75%
EPS Next 3Y6.12%

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%

More info and screens

Find the best dividend stocksShow peers with best dividend

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

FORTINET INC

BIT:1FTNT (3/5/2026, 7:00:00 PM)

72.53

+2.97 (+4.27%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-05
Earnings (Next)05-05
Inst Owners71.09%
Inst Owner ChangeN/A
Ins Owners17.43%
Ins Owner ChangeN/A
Market Cap53.67B
Revenue(TTM)N/A
Net Income(TTM)1.87B
Analysts67.6
Price Target79.03 (8.96%)
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 YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.51%
Min EPS beat(2)6.18%
Max EPS beat(2)14.84%
EPS beat(4)4
Avg EPS beat(4)11.8%
Min EPS beat(4)6.18%
Max EPS beat(4)19.58%
EPS beat(8)8
Avg EPS beat(8)16.09%
EPS beat(12)12
Avg EPS beat(12)14.54%
EPS beat(16)16
Avg EPS beat(16)13.89%
Revenue beat(2)0
Avg Revenue beat(2)-1.19%
Min Revenue beat(2)-1.63%
Max Revenue beat(2)-0.75%
Revenue beat(4)1
Avg Revenue beat(4)-0.57%
Min Revenue beat(4)-1.99%
Max Revenue beat(4)2.1%
Revenue beat(8)2
Avg Revenue beat(8)-0.57%
Revenue beat(12)3
Avg Revenue beat(12)-0.84%
Revenue beat(16)5
Avg Revenue beat(16)-0.44%
PT rev (1m)0%
PT rev (3m)1.79%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.03%
EPS NY rev (1m)0%
EPS NY rev (3m)6.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.07%
Valuation
Industry RankSector Rank
PE 30.22
Fwd PE 27.94
P/S 9.5
P/FCF 30.7
P/OCF 25.44
P/B 84.72
P/tB 169.89
EV/EBITDA 27.2
EPS(TTM)2.4
EY3.31%
EPS(NY)2.6
Fwd EY3.58%
FCF(TTM)2.36
FCFY3.26%
OCF(TTM)2.85
OCFY3.93%
SpS7.63
BVpS0.86
TBVpS0.43
PEG (NY)3.68
PEG (5Y)0.92
Graham Number6.8
Profitability
Industry RankSector Rank
ROA 20.01%
ROE 254.88%
ROCE 44.21%
ROIC 38.77%
ROICexc 122.19%
ROICexgc 163.76%
OM 30.86%
PM (TTM) 28.58%
GM 80.86%
FCFM 30.95%
ROA(3y)15.82%
ROA(5y)13.96%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)28.58%
ROIC(5y)24.19%
ROICexc(3y)95.75%
ROICexc(5y)91.08%
ROICexgc(3y)117.7%
ROICexgc(5y)117.86%
ROCE(3y)32.59%
ROCE(5y)27.58%
ROICexgc growth 3Y23.93%
ROICexgc growth 5Y1.09%
ROICexc growth 3Y22.17%
ROICexc growth 5Y2.73%
OM growth 3Y16.85%
OM growth 5Y13.69%
PM growth 3Y17.3%
PM growth 5Y13.83%
GM growth 3Y1.97%
GM growth 5Y1.17%
F-Score8
Asset Turnover0.7
Health
Industry RankSector Rank
Debt/Equity 0.68
Debt/FCF 0.49
Debt/EBITDA 0.23
Cap/Depr 284.09%
Cap/Sales 6.4%
Interest Coverage 250
Cash Conversion 112.8%
Profit Quality 108.26%
Current Ratio 1.03
Quick Ratio 0.94
Altman-Z 5.62
F-Score8
WACC10.98%
ROIC/WACC3.53
Cap/Depr(3y)252.71%
Cap/Depr(5y)258.35%
Cap/Sales(3y)5.53%
Cap/Sales(5y)6.06%
Profit Quality(3y)142.53%
Profit Quality(5y)164.41%
High Growth Momentum
Growth
EPS 1Y (TTM)16.88%
EPS 3Y32.23%
EPS 5Y32.75%
EPS Q2Q%9.46%
EPS Next Y8.21%
EPS Next 2Y9.75%
EPS Next 3Y6.12%
EPS Next 5Y10.21%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%14.75%
Revenue Next Year11.18%
Revenue Next 2Y10.92%
Revenue Next 3Y13.32%
Revenue Next 5Y10.73%
EBIT growth 1Y24.11%
EBIT growth 3Y41.66%
EBIT growth 5Y39.22%
EBIT Next Year25.5%
EBIT Next 3Y15.68%
EBIT Next 5Y16.33%
FCF growth 1Y-1.72%
FCF growth 3Y16%
FCF growth 5Y21.29%
OCF growth 1Y7.75%
OCF growth 3Y14.62%
OCF growth 5Y22.82%

FORTINET INC / 1FTNT.MI Fundamental Analysis FAQ

What is the fundamental rating for 1FTNT stock?

ChartMill assigns a fundamental rating of 6 / 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.


Can you provide the profitability details for FORTINET INC?

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


What is the valuation of FORTINET INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for FORTINET INC (1FTNT.MI) is 30.22 and the Price/Book (PB) ratio is 84.72.


What is the earnings growth outlook for FORTINET INC?

The Earnings per Share (EPS) of FORTINET INC (1FTNT.MI) is expected to grow by 8.21% in the next year.