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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) · 2026-10-30
$136.1
−2.17% today
1W
−24.4%
1M
−23.9%
3M
−16.6%
YTD
+71.4%
1Y
+61.6%
Off 52w high
−30.1%
Next earnings (est.): 2026-10-28
Market cap$99.84B
P/E (trailing)44.5Forward 35.1
EV / sales12.4×EV/EBITDA 35.5×
Revenue (TTM)$7.88BGrowth 20.5% y/y
Margins79.8%gross · op 33.8%
Free cash flow$2.49BCash $4.80B · debt $497M
Analyst target$149.6+9.9% upside · 36 analysts · hold
Riskβ 1.04Short 2.0% of float

Fundamentals from public market data, refreshed daily (2026-10-30 21:21 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…

15,109 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 $250.4−4.10%−5.9%+113.7%
PANW
Palo Alto Networks
Network, cloud and identity security platform $365.9−3.86%−7.7%+98.6%
ZS
Zscaler
Zero-trust security for AI traffic $237.8−4.03%+19.6%+5.7%
NET
Cloudflare
Edge network, AI inference and bot defence $280.7−9.54%−20.0%+42.4%
S
SentinelOne
AI-native endpoint security $25.15−2.18%+1.9%+67.7%
OKTA
Okta
Identity for people and AI agents $208.2−6.14%−2.1%+140.8%
CHKP
Check Point Software
Network and cloud security $152.1−0.91%+16.4%−18.0%

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.