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FTNT vs. CSCO: Which Network Security Giant is the Better Investment?
Fri 16 May 25, 04:05 PMFortinet (FTNT) is a Top-Ranked Momentum Stock: Should You Buy?
Wed 14 May 25, 01:50 PMFortinet Inc. (FTNT): Among the Best Technology Stocks to Buy for Long-Term Investment
Wed 14 May 25, 01:02 PMWhy Fortinet (FTNT) is a Top Growth Stock for the Long-Term
Tue 13 May 25, 01:45 PMInterpreting Fortinet (FTNT) International Revenue Trends
Tue 13 May 25, 01:16 PMFortinet First Quarter 2025 Earnings: EPS Beats Expectations
Tue 13 May 25, 11:01 AMAffirm's Q3 Earnings Beat Estimates on Solid GMV Growth
Fri 09 May 25, 05:10 PMFortinet, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Fri 09 May 25, 11:32 AMWhy This Cybersecurity Stock Is Today’s Worst S&P 500 Performer
Thu 08 May 25, 05:41 PM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 2292.50M | 2029.10M | 1333.70M | 955.50M | 628.40M |
| Minority interest | - | 0.00000M | 0.00000M | 0.70M | -0.10000M |
| Net income | 1853.40M | 1745.20M | 1147.80M | 857.30M | 606.80M |
| Selling general administrative | 233.40M | 237.80M | 211.30M | 169.00M | 143.50M |
| Selling and marketing expenses | 2347.50M | 2044.80M | 2006.00M | 1686.10M | 1345.70M |
| Gross profit | 5497.00M | 4798.20M | 4067.60M | 3332.50M | 2559.20M |
| Reconciled depreciation | 152.00M | 122.80M | 110.50M | 104.30M | 84.40M |
| Ebit | 2312.60M | 2078.50M | 1241.10M | 969.60M | 650.40M |
| Ebitda | 2464.60M | 2201.30M | 1241.10M | 1077.80M | 727.70M |
| Depreciation and amortization | 152.00M | 122.80M | 379.70M | 108.20M | 77.30M |
| Non operating income net other | - | - | - | -64.20000M | -14.70000M |
| Operating income | 2082.00M | 1803.40M | 1241.10M | 969.60M | 650.40M |
| Other operating expenses | 4719.00M | 4152.40M | 4068.30M | 3452.40M | 2696.40M |
| Interest expense | 20.10M | 20.00M | 21.00M | 18.00M | 14.90M |
| Tax provision | 439.10M | 283.90M | 57.80M | 30.80M | 14.10M |
| Interest income | 162.30M | 155.20M | 98.30M | 17.40M | 4.50M |
| Net interest income | 142.20M | 135.20M | 78.20M | -0.60000M | -10.40000M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 439.10M | 283.90M | 143.80M | 30.80M | 14.10M |
| Total revenue | 6799.60M | 5955.80M | 5304.80M | 4417.40M | 3342.20M |
| Total operating expenses | 3416.40M | 2994.80M | 2831.10M | 2367.50M | 1913.40M |
| Cost of revenue | 1302.60M | 1157.60M | 1237.20M | 1084.90M | 783.00M |
| Total other income expense net | 210.50M | 225.70M | 92.60M | -14.10000M | -22.00000M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 1853.40M | 1745.20M | 1150.70M | 856.60M | 606.70M |
| Net income applicable to common shares | - | - | - | 857.30M | 606.80M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 10389.20M | 9763.10M | 7258.90M | 6228.00M | 5919.10M |
| Intangible assets | 354.70M | 115.00M | 35.30M | 56.00M | 63.60M |
| Earning assets | - | - | - | - | - |
| Other current assets | 227.00M | 126.10M | 101.10M | 73.10M | 65.40M |
| Total liab | 9151.70M | 8269.30M | 7722.30M | 6509.60M | 5120.70M |
| Total stockholder equity | 1237.50M | 1493.80M | -463.40000M | -281.60000M | 781.70M |
| Deferred long term liab | - | - | - | 2291.00M | 423.30M |
| Other current liab | 4303.50M | 593.60M | 632.60M | 485.70M | 392.30M |
| Common stock | 0.70M | 0.80M | 0.80M | 0.80M | 0.20M |
| Capital stock | 0.70M | 0.80M | 0.80M | 0.80M | 0.20M |
| Retained earnings | -507.90000M | -117.10000M | -1861.70000M | -1546.40000M | -467.90000M |
| Other liab | - | - | - | 2378.30M | 1814.20M |
| Good will | 354.70M | 235.40M | 126.50M | 128.00M | 125.10M |
| Other assets | - | - | 0.00000M | 1193.30M | 1001.40M |
| Cash | 2495.30M | 2875.90M | 1397.90M | 1682.90M | 1319.10M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 5034.00M | 4060.70M | 3719.00M | 3078.40M | 2318.10M |
| Current deferred revenue | - | 3276.20M | 2848.70M | 2349.30M | 1777.40M |
| Net debt | -1499.00000M | -1881.60000M | -326.50000M | -692.50000M | -330.70000M |
| Short term debt | 499.70M | 32.70M | 33.40M | - | - |
| Short long term debt | 499.70M | - | - | - | - |
| Short long term debt total | 996.30M | 994.30M | 1071.40M | 990.40M | 988.40M |
| Other stockholder equity | 1770.10M | 1636.20M | 1416.40M | 1284.20M | 1254.20M |
| Property plant equipment | - | - | - | 898.50M | 687.60M |
| Total current assets | 5900.20M | 5971.50M | 4428.30M | 3810.40M | 3600.60M |
| Long term investments | 339.70M | 0.00000M | 0.00000M | 45.50M | 440.80M |
| Net tangible assets | - | - | - | -281.60000M | 593.00M |
| Short term investments | 1087.20M | 1190.60M | 1042.50M | 528.10M | 1232.60M |
| Net receivables | 1691.20M | 1463.40M | 1402.00M | 1261.70M | 807.70M |
| Long term debt | 496.60M | 994.30M | 992.30M | 990.40M | 988.40M |
| Inventory | 399.50M | 315.50M | 484.80M | 264.60M | 175.80M |
| Accounts payable | 230.80M | 190.90M | 204.30M | 243.40M | 148.40M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | 16.70M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -25.40000M | -26.10000M | -18.90000M | -20.20000M | -4.80000M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 0.80M | 0.20M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | -1546.40000M | -467.90000M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 2175.60M | 756.10M | 637.40M | 720.20M | 659.10M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 4489.00M | 3791.60M | 2830.60M | 2417.60M | 2318.50M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | - | - | - | 990.40M | 988.40M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -192.80000M | -727.40000M | -360.30000M | 763.90M | -1325.10000M |
| Change to liabilities | - | - | - | 208.90M | 732.30M |
| Total cashflows from investing activities | -599.10000M | -727.40000M | -649.30000M | 763.90M | -1325.10000M |
| Net borrowings | - | - | 0.00000M | - | 969.90M |
| Total cash from financing activities | -2371.50000M | -50.10000M | -1570.40000M | -2130.30000M | 82.80M |
| Change to operating activities | - | - | - | -257.50000M | -238.00000M |
| Net income | 1853.40M | 1745.20M | 1147.80M | 856.60M | 606.70M |
| Change in cash | -380.60000M | 1478.00M | -285.00000M | 363.80M | 257.30M |
| Begin period cash flow | 2875.90M | 1397.90M | 1682.90M | 1319.10M | 1061.80M |
| End period cash flow | 2495.30M | 2875.90M | 1397.90M | 1682.90M | 1319.10M |
| Total cash from operating activities | 2590.60M | 2258.10M | 1935.50M | 1730.60M | 1499.70M |
| Issuance of capital stock | 44.70M | 63.10M | 40.40M | 26.10M | 26.00M |
| Depreciation | 336.30M | 122.80M | 113.40M | 104.30M | 84.40M |
| Other cashflows from investing activities | 0.10M | 0.10M | 0.30M | -30.80000M | 0.40M |
| Dividends paid | - | - | - | - | -989.40000M |
| Change to inventory | -90.60000M | 131.20M | -253.50000M | -109.10000M | -19.40000M |
| Change to account receivables | -215.90000M | -45.40000M | -146.40000M | -456.70000M | -72.50000M |
| Sale purchase of stock | -2289.80000M | -0.60000M | -1500.50000M | -1991.20000M | -741.80000M |
| Other cashflows from financing activities | -126.40000M | -112.60000M | -113.70000M | -165.20000M | 1807.50M |
| Change to netincome | - | - | - | 82.60M | 230.20M |
| Capital expenditures | 364.80M | 378.90M | 204.10M | 281.20M | 295.90M |
| Change receivables | - | - | - | -456.70000M | -72.50000M |
| Cash flows other operating | - | - | - | 1039.60M | 684.10M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | 364.20M | 257.40M |
| Change in working capital | -10.40000M | -20.60000M | 126.10M | 233.00M | 402.40M |
| Stock based compensation | 279.50M | 257.90M | 249.00M | 217.30M | 207.90M |
| Other non cash items | 65.60M | 152.80M | 299.20M | 545.80M | 183.80M |
| Free cash flow | 2225.80M | 1879.20M | 1731.40M | 1449.40M | 1203.80M |
Sector: Technology Industry: Software - Infrastructure
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| FTNT Fortinet Inc |
2.87 1.96% | 149.35 | 35.23 | 27.70 | 9.32 | 49.39 | 8.61 | 23.85 |
| MSFT Microsoft Corporation |
0.97 0.23% | 428.31 | 37.32 | 29.94 | 13.03 | 12.45 | 13.06 | 24.59 |
| ORCL Oracle Corporation |
5.92 2.57% | 236.25 | 29.34 | 18.66 | 5.55 | 74.06 | 7.10 | 18.13 |
| CRWD Crowdstrike Holdings Inc |
-32.1 4.29% | 715.51 | - | 89.29 | 23.70 | 24.81 | 21.91 | 577.82 |
| PANW Palo Alto Networks Inc |
-4.54 1.62% | 275.89 | 44.57 | 45.05 | 11.98 | 20.70 | 11.82 | 77.11 |
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 connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.
909 Kifer Road, Sunnyvale, CA, United States, 94086
| Name | Title | Year Born |
|---|---|---|
| Mr. Ken Xie | Founder, Chairman & CEO | 1963 |
| Mr. Michael Xie | Founder, Pres, CTO & Director | 1969 |
| Mr. Keith F. Jensen | CFO & Chief Accounting Officer | 1959 |
| Mr. John Whittle | EVP of Corp. Devel., Chief Legal Officer & Corp. Sec. | 1969 |
| Ms. Ana Pease | VP of Talent Management & Operations | NA |
| Mr. Peter M. Salkowski | VP of Investor Relations | NA |
| Mr. John Maddison | Chief Marketing Officer & Exec. VP of Products | NA |
| Mr. Chris Perna | VP of Talent Acquisition | NA |
| Mr. Patrice Perche | Exec. VP of Support & Chief Revenue Officer | 1962 |
| Pedro Paixao | Pres for Latin America and Gen. Mang. for Latin America | NA |
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