Fortinet stock
FTNTNASDAQFortinet, Inc., TechnologyISIN US34959E1091
80Score 80 out of 100, Strong
Price and trend
49 / 100
Price history
+58% in one yearThe chart shows daily closes over 17 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Below the 200-day line: the price is 0.7% below it.
Since May 2026 the 50-day line has been above the 200-day line; the trend has turned up.
Sharply down: the price has fallen very quickly lately (RSI 21).
The price is 33% below its 52-week high. Largest decline in 17 years: 51% (August 2015 to February 2016).
Chart figures for advanced users
- SMA 50$165.06
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$130.48
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)21
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDbelow the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$75.23
- The lowest closing price of the last twelve months.
- Resistance$194.75
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Fortinet, Inc. belongs to the Software (Infrastructure) industry (United States) and, with a market value of $95.17B, is number 7 of 97 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $6.8B (up 14.2% year on year) and earnings of $1.85B (up 6.2%).
- For fiscal 2026, analysts expect on average revenue of $8.17B (up 20.2%) and adjusted earnings per share of $3.56 (up 28.6%).
Show more
- MEQIRI Score 80 out of 100 (Strong): rank 30 of 854 in Technology, median 61.
- The P/E is 42.2 (Software (Infrastructure) median 25.6, own median of recent years 45.3).
- Our model puts fair value at $72.21, with the price 79% above it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Earnings per share growingUp 32.4% a year since 2020.Growth 99
- High return on capitalReturn on invested capital 29.1% in fiscal 2025, Software (Infrastructure) median 5.5%.Profitability 98
- High marginNet margin 29% over the last 12 months, Software (Infrastructure) median 7.4%.Profitability 98
Weaknesses
- Above fair valuePrice 79% above the fair value of $72.21.Valuation 22
- Volatile share priceVolatility 49% a year over the last 12 months.
Its standout strengths are fundamentals and growth, while technical analysis and valuation hold the score back.
Daily figure as of 13 Nov 2026
How the score is calculatedScore overview
Fundamentals are strong, with stable profits and strong cash generation.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk high
How well MEQIRI warnsOne of the 30% with the highest crash risk among stocks ranked 101 to 1,000.
From 2016 to 2025, 23 in 100 such stocks fell 30% or more within a year, against a group average of 15 in 100.
What drives the risk
- high price swings
- high growth grade (crashed more often in the backtest)
What lowers it
- solid fundamentals
Valuation
Valuation signal
Significantly overvaluedIn our model the price counts as cheap below $51.58 and expensive above $120.36 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $65.90 (cash-flow model) and $78.53 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 9.2%. At 10.2% the fair value would be $67.40, at 8.2% it would be $79.20.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (25.6).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 20.2% on the twelve months before. Revenue has grown strongly since 2006, at around 23% per year.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 81%, operating 31%, net 27%.
Debt & balance sheet
latest quarterThe balance sheet is solid, with low debt and comfortable interest coverage.
Earnings
- Next earnings
- 4 Feb 2027in 83 days
- Last reported
- 28 Oct 2026EPS reported $0.91 (expected $0.86)above expectations
Analyst estimates
Analysts have raised their 2026 earnings estimate by 3.2% since 15 Oct 2026.
- Earnings per share
- $3.56+3.2%
- Revenue
- $8.17B+0.7%
- Earnings per share
- $3.89+3.0%
- Revenue
- $9.1B+0.7%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook raised
Share price after the results: −24.8%Fortinet raised its full year 2026 guidance for the third time, now expecting billings growth of 28% and revenue growth of 20% at the midpoint, along with higher operating margin and earnings per share.
“For the fourth quarter, we expect the following: billings in the range of $2.775 billion to $2.925 billion, which at the midpoint represents growth of 20%.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 28 Oct 2026 (fiscal Q3 2026), read by AI.
Insiders
Open-market purchases and sales by executives, board members and major holders
No open-market purchases in the last 6 months. 4 insiders sold, $100.35M in total.
Sales say less than purchases: many insiders sell on a fixed plan, for taxes or to diversify.
- Xie KenSale
2 Nov 2026, President & CEO
- Shares
- 161,483
- Price
- $129.31
- Value
- $20.88M
- Xie MichaelSale
2 Nov 2026, VP, Engineering & CTO
- Shares
- 3,121
- Price
- $129.49
- Value
- $404,125
- Ohlgart ChristianeSale
24 Sept 2026, Chief Financial Officer
- Shares
- 48
- Price
- $180.00
- Value
- $8,640
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- Whittle JohnSale
15 Sept 2026, CHIEF OPERATING OFFICER
- Shares
- 2,835
- Price
- $168.74
- Value
- $478,378
- Whittle JohnSale
14 Sept 2026, CHIEF OPERATING OFFICER
- Shares
- 53,865
- Price
- $165.44
- Value
- $8.91M
- Ohlgart ChristianeSale
4 Aug 2026, Chief Financial Officer
- Shares
- 387
- Price
- $164.59
- Value
- $63,696
- Xie MichaelSale
3 Aug 2026, VP, ENGINEERING & CTO
- Shares
- 3,121
- Price
- $162.63
- Value
- $507,574
- Xie KenSale
3 Aug 2026, PRESIDENT & CEO
- Shares
- 161,482
- Price
- $162.66
- Value
- $26.27M
- Xie MichaelSale
3 Jun 2026, VP, ENGINEERING & CTO
- Shares
- 3,907
- Price
- $146.44
- Value
- $572,144
- Xie KenSale
2 Jun 2026, PRESIDENT & CEO
- Shares
- 160,632
- Price
- $145.58
- Value
- $23.39M
- Whittle JohnSale
21 May 2026, CHIEF OPERATING OFFICER
- Shares
- 146,015
- Price
- $128.41
- Value
- $18.75M
- Ohlgart ChristianeSale
20 May 2026, Chief Financial Officer
- Shares
- 238
- Price
- $130.00
- Value
- $30,940
- Ohlgart ChristianeSale
14 May 2026, Chief Financial Officer
- Shares
- 756
- Price
- $120.00
- Value
- $90,720
Partial trades from one filing are shown in one row, with the average price.
Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.
What happened at Fortinet
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
854 rated companies in Technology
- This company
- 80
- Sector median
- 61
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Software (Infrastructure)
The next larger and next smaller companies by market value
- OracleORCL $384.35B60
- Palo Alto NetworksPANW $264.08B54
- CrowdStrike HoldingsCRWD $235.37B50
- CloudflareNET $113.36B42
- SynopsysSNPS $88.67B60
- BlockXYZ $49.56B62
- TwilioTWLO $32.84B56
- ZscalerZS $31.51B44
ETFs that hold Fortinet
Held by 142 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| L&G Cyber Security UCITS ETFUSPY | 3.78% | 0.69% | €3.76B |
| Rize Cybersecurity and Data Privacy UCITS ETF Accum USDRCRS | 3.00% | 0.45% | €125.3M |
| Invesco Cybersecurity UCITS ETF AccumUSDIVCS | 2.50% | 0.35% | €14M |
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| iShares Digitalisation UCITS ETF2B79 | 2.24% | 0.40% | €726.22M |
| iShares Digital Security UCITS ETFL0CK | 1.97% | 0.40% | €1.93B |
| VanEck Morningstar US ESG Wide Moat UCITS ETFGMVM | 1.78% | 0.49% | €368.7M |
| Amundi MSCI Robotics & AI UCITS ETF AccGOAI | 1.74% | 0.40% | €1.14B |
| Amundi MSCI Digital Economy UCITS ETF AccEBUY | 1.64% | 0.45% | €96.36M |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 Oct 2022)
- Valuation signal Overvalued since 10 Nov 2026, previously Fairly valued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.