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NASDAQ · US · Software - Infrastructure

FTNT Fortinet

Firewalls and secure networking

Tight but sold off Its supply chain is tightening but the stock is below its 50-day average — price and fundamentals disagree. (automatic: supply-chain trend + price vs 50-day average)
Last close (delayed) · 2026-11-12
$129.5
+1.12% today
1W
+5.7%
1M
−29.6%
3M
−19.0%
YTD
+63.1%
1Y
+57.7%
Off 52w high
−33.5%
Next earnings (est.): 2026-10-28
Market cap$95.17B
P/E (trailing)42.3Forward 33.2
EV / sales11.4×EV/EBITDA 32.6×
Revenue (TTM)$7.88BGrowth 20.5% y/y
Margins79.8%gross · op 32.9%
Free cash flow$2.49BCash $4.80B · debt $560M
Analyst target$145.0+12.0% upside · 37 analysts · hold
Riskβ 1.04Short 2.0% of float

Fundamentals from public market data, refreshed daily (2026-11-12 22:21 UTC). Figures in reporting currency.

FTNT · price with what management and the data said

Supply tighteningBeat / raiseMiss / cutData releaseEasing Hover a numbered marker for details · dashed lines = 50- and 200-day averages

Timeline: management commentary, data & earnings

8 events
  1. 8
    2026-10-28EarningsBeat / raise

    Reported EPS 0.91 vs 0.86 expected (+6.0% surprise).

  2. 7
    2026-07-29EarningsBeat / raise

    Reported EPS 0.9 vs 0.75 expected (+20.5% surprise).

  3. 6
    2026-05-06EarningsBeat / raise

    Reported EPS 0.82 vs 0.62 expected (+32.6% surprise).

  4. 5
    2026-02-05EarningsBeat / raise

    Reported EPS 0.81 vs 0.74 expected (+8.9% surprise).

  5. 4
    2025-11-05EarningsBeat / raise

    Reported EPS 0.74 vs 0.63 expected (+16.9% surprise).

  6. 3
    2025-08-06EarningsBeat / raise

    Reported EPS 0.64 vs 0.59 expected (+8.3% surprise).

  7. 2
    2025-05-07EarningsBeat / raise

    Reported EPS 0.58 vs 0.53 expected (+9.0% surprise).

  8. 1
    2025-02-06EarningsBeat / raise

    Reported EPS 0.74 vs 0.61 expected (+21.9% surprise).

Earnings history

EPS vs expectations
DateExpected EPSReported EPSSurprise
2026-10-280.860.91+6.0%
2026-07-290.750.9+20.5%
2026-05-060.620.82+32.6%
2026-02-050.740.81+8.9%
2025-11-050.630.74+16.9%
2025-08-060.590.64+8.3%
2025-05-070.530.58+9.0%
2025-02-060.610.74+21.9%
2024-11-070.520.63+21.5%
2024-08-060.410.57+40.2%
2024-05-020.380.43+11.8%
2024-02-060.430.51+18.1%
2023-11-020.360.41+12.6%
2023-08-030.340.38+10.7%
2023-05-040.290.34+18.9%
2023-02-070.390.44+12.2%
2022-11-020.270.33+20.6%
2022-08-030.220.24+9.3%
2022-05-040.160.19+17.8%
2022-02-030.230.25+7.1%
2021-11-040.190.2+5.3%
2021-07-290.170.19+9.2%
2021-04-290.150.16+9.7%
2021-02-040.190.21+9.6%

About Fortinet

Website ↗

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure…

15,540 employees · Sunnyvale, United States

AI agents and AI-written attacks expand the attack surface faster than security teams can hire. Spend shifts to platforms that use AI to defend AI workloads.

Threats→Detection→Platform→Response

What would prove us wrong. Weakens if net-new ARR decelerates across the group while breach activity stays high.

Peers at the same bottleneck

Who else supplies this

StockRoleLast1D1MYTDTrend
CRWD
CrowdStrike
Endpoint and cloud security platform $229.9+0.35%−7.8%+96.2%
PANW
Palo Alto Networks
Network, cloud and identity security platform $322.7−3.53%−14.0%+75.2%
ZS
Zscaler
Zero-trust security for AI traffic $193.2−0.30%−12.5%−14.1%
NET
Cloudflare
Edge network, AI inference and bot defence $318.5+1.11%−1.8%+61.5%
S
SentinelOne
AI-native endpoint security $22.29−6.27%−2.3%+48.6%
OKTA
Okta
Identity for people and AI agents $182.5+0.16%−13.9%+111.1%
CHKP
Check Point Software
Network and cloud security $147.5+0.62%+10.0%−20.5%

Not investment advice. Prices delayed and in local currency. Quotes in "double quotes" are verbatim as reported by the linked source; other commentary is our paraphrase. Earnings dates are estimates.