Fortinet Inc

Fortinet Inc

FTNT · NASDAQ · Technology / Software - Infrastructure

127.22USD-2.32 (-1.79%)

Price History

Full chart

Market Stats

Previous Close129.54
Open131.40
Day Range125.14 – 131.71
52-Week Range73.55 – 197.13
Volume3.26M
Market Cap94.12B
P/E (TTM)41.19
Forward P/E31.55
EPS3.11
Dividend Yield0.00%
Beta1.04
50-Day Avg170.80
200-Day Avg128.63

About

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.

Company Details

  • SectorTechnology
  • IndustrySoftware - Infrastructure
  • CEOMr. Ken Xie
  • Employees15.54K
  • Headquarters909 Kifer Road, Sunnyvale, CA, United States, 94086, USA
  • Websitehttps://www.fortinet.com

Leadership

  • Mr. Ken XieCo-Founder, Chairman & CEO · b. 1963
  • Mr. Michael XieCo-Founder, President, CTO & Director · b. 1969
  • Ms. Christiane OhlgartChief Accounting Officer, CFO and Principal Financial & Accounting Officer · b. 1968
  • Mr. John Whittle J.D.Chief Operating Officer · b. 1969
  • Mr. Anthony LuscriVice President of Investor Relations
  • Mr. Anthony JamesExecutive Vice President of Marketing
  • Mr. Robert MayExecutive Vice President of Technology & Product Management
  • Mr. Joe SarnoExecutive Vice President of International Sales
  • Mr. Carl WindsorChief Information Security Officer
  • Mr. Trevor PagliaraExecutive Vice President of US Sales

Financials

Income Statement

Currency: USD2006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue123.47M155.37M211.79M252.12M324.70M433.58M533.64M615.30M770.36M1.01B1.28B1.49B1.80B2.16B2.59B3.34B4.42B5.30B5.96B6.80B
Growth (%)-+25.84%+36.32%+19.04%+28.79%+33.53%+23.08%+15.30%+25.20%+31.01%+26.37%+17.21%+20.72%+19.86%+19.94%+28.82%+32.17%+20.09%+12.27%+14.17%
Cost of Revenue40.96M56.65M65.47M69.97M85.21M113.60M147.42M180.64M231.01M286.78M337.80M385.30M450.40M505.90M570.00M783.00M1.08B1.24B1.16B1.30B
Gross Profit82.50M98.71M146.32M182.14M239.49M319.98M386.22M434.65M539.36M722.49M937.60M1.11B1.35B1.66B2.02B2.56B3.33B4.07B4.80B5.50B
Gross Margin66.82%63.54%69.09%72.24%73.76%73.80%72.37%70.64%70.01%71.59%73.51%74.23%75.04%76.61%78.03%76.57%75.44%76.68%80.56%80.84%
Operating Expense88.50M120.29M141.39M156.81M184.15M231.07M285.74M362.56M480.03M707.61M894.70M999.80M1.12B1.31B1.49B1.91B2.36B2.83B2.99B3.42B
Operating Income-6.00M-21.58M4.93M25.33M55.34M88.90M100.47M72.09M59.32M14.88M42.90M109.80M234.40M351.00M531.80M650.40M969.60M1.24B1.80B2.08B
Operating Margin-4.86%-13.89%2.33%10.05%17.04%20.50%18.83%11.72%7.70%1.47%3.36%7.34%12.99%16.23%20.50%19.46%21.95%23.40%30.28%30.62%
EBITDA-2.49M-17.42M9.16M31.27M61.85M95.89M112.04M87.71M81.35M54.07M95.40M165.60M290.10M447.60M610.50M727.70M1.08B1.24B2.20B2.46B
EBITDA Margin-2.02%-11.21%4.33%12.40%19.05%22.12%21.00%14.26%10.56%5.36%7.48%11.08%16.08%20.69%23.53%21.77%24.40%23.40%36.96%36.25%
Net Income-5.34M-21.84M7.36M60.18M41.24M62.49M66.84M44.27M25.34M7.99M32.20M31.40M334.90M331.70M488.50M606.80M857.30M1.15B1.75B1.85B
Net Income Margin-4.33%-14.06%3.48%23.87%12.70%14.41%12.52%7.20%3.29%0.79%2.52%2.10%18.56%15.34%18.83%18.16%19.41%21.64%29.30%27.26%
R&D21.45M27.59M37.03M42.20M49.80M63.58M81.08M102.66M122.88M158.13M183.10M210.60M244.50M277.10M341.40M424.20M512.40M613.80M716.80M815.50M
R&D as % of Total Revenue17.37%17.76%17.49%16.74%15.34%14.66%15.19%16.68%15.95%15.67%14.36%14.09%13.55%12.81%13.16%12.69%11.60%11.57%12.04%11.99%
Interest Expense2.38M3.51M2.61M1.98M1.81M3.52M5.01M5.31M5.39M5.29M7.30M13.48M26.50M35.00M50.10M14.90M18.00M21.00M20.00M20.10M
Interest Expense % of Total Revenue1.92%2.26%1.23%0.79%0.56%0.81%0.94%0.86%0.70%0.52%0.57%0.90%1.47%1.62%1.93%0.45%0.41%0.40%0.34%0.30%

Balance Sheet

Currency: USD2006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets-145.19M199.10M387.21M545.42M734.75M975.50M1.17B1.42B1.79B2.14B2.26B3.08B3.88B4.04B5.92B6.23B7.26B9.76B10.39B
Total Liabilities-164.12M204.33M244.76M312.97M376.39M464.56M582.70M748.81M1.04B1.30B1.67B2.07B2.54B3.19B5.12B6.51B7.72B8.27B9.15B
Total Equity--18.93M-5.23M142.45M232.45M358.35M510.93M585.76M675.97M755.38M837.68M589.40M1.01B1.34B856.00M798.40M-281.60M-463.40M1.49B1.24B
Cash-71.41M56.57M212.46M72.12M71.99M122.97M115.87M283.25M543.28M709.00M811.00M1.11B1.22B1.06B1.32B1.68B1.40B2.88B2.50B
Total Debt-------------46.10M53.10M1.01B1.02B992.30M994.30M996.30M
Net Debt--71.41M-56.57M-212.46M-72.12M-71.99M-122.97M-115.87M-283.25M-543.28M-709.00M-811.00M-1.11B-1.22B-1.06B-330.70M-692.50M-405.60M-1.88B-1.50B

Cash Flow

Currency: USD2006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow3.41M27.67M37.69M61.97M103.38M132.84M183.87M147.38M196.58M282.55M345.70M594.40M638.90M808.00M1.08B1.50B1.73B1.94B2.26B2.59B
Investing Cash Flow21.46M-2.33M-53.71M13.76M--166.83M-182.71M-146.73M-29.35M-967.00K-74.10M-76.80M-134.90M-502.30M-72.80M-1.33B763.90M-649.30M-727.40M-599.10M
Financing Cash Flow793.00K19.00K2.12M78.05M34.02M39.80M50.16M-6.42M749.00K-21.56M-105.90M-415.60M-202.60M-195.60M-1.17B82.80M-2.13B-1.57B-50.10M-2.37B
Capital Expenditure1.19M2.03M2.80M4.59M3.78M3.62M22.08M13.88M32.20M37.36M67.20M135.30M53.00M92.20M125.90M295.90M281.20M204.10M378.90M364.80M
Free Cash Flow2.22M25.64M34.89M57.38M99.61M129.22M161.78M133.51M164.38M245.19M278.50M459.10M585.90M715.80M957.80M1.20B1.45B1.73B1.88B2.23B
Dividends Paid------000000---989.40M----
FCF to OCF65.18%92.67%92.58%92.59%96.35%97.27%87.99%90.58%83.62%86.78%80.56%77.24%91.70%88.59%88.38%80.27%83.75%89.45%83.22%85.92%
Dividend Paid to FCF------0.00%0.00%0.00%0.00%0.00%0.00%---82.19%----

Earnings

Report DateDec 2, 2009Jan 27, 2010Apr 28, 2010Jul 22, 2010Oct 21, 2010Jan 25, 2011Apr 27, 2011Jul 19, 2011Oct 24, 2011Jan 31, 2012Apr 24, 2012Jul 25, 2012Oct 16, 2012Jan 30, 2013Apr 30, 2013Jul 30, 2013Oct 23, 2013Jan 29, 2014Apr 23, 2014Jul 23, 2014Oct 22, 2014Jan 28, 2015Apr 20, 2015Jul 22, 2015Oct 22, 2015Jan 28, 2016Apr 26, 2016Jul 28, 2016Oct 27, 2016Feb 2, 2017Apr 27, 2017Jul 26, 2017Oct 26, 2017Feb 5, 2018May 3, 2018Aug 1, 2018Nov 1, 2018Feb 6, 2019May 2, 2019Aug 1, 2019Oct 31, 2019Feb 6, 2020May 6, 2020Aug 6, 2020Oct 29, 2020Feb 4, 2021Apr 29, 2021Jul 29, 2021Nov 4, 2021Feb 3, 2022May 4, 2022Aug 3, 2022Nov 2, 2022Feb 7, 2023May 4, 2023Aug 3, 2023Nov 2, 2023Feb 6, 2024May 2, 2024Aug 6, 2024Nov 7, 2024Feb 6, 2025May 7, 2025Aug 6, 2025Nov 5, 2025Feb 5, 2026May 6, 2026Jul 29, 2026Oct 28, 2026Nov 4, 2026
EPS Estimate-0.010.010.010.010.010.010.020.020.020.020.020.030.030.020.020.020.030.020.020.020.030.010.020.020.040.020.030.030.040.030.040.050.060.050.070.080.100.080.100.110.140.100.130.160.190.150.170.190.230.160.220.270.390.290.340.360.430.380.410.520.610.530.590.550.740.620.660.770.77
EPS Actual0.010.010.010.010.020.020.020.020.030.030.020.020.030.030.020.020.020.030.020.020.020.030.020.020.030.040.020.030.040.060.030.050.060.060.070.080.100.120.090.120.130.150.120.160.180.210.160.190.200.250.190.240.330.440.340.380.410.510.430.570.630.740.580.640.650.810.820.900.86-
Surprise-0.00%0.00%0.00%100.00%100.00%100.00%0.00%50.00%50.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%100.00%0.00%50.00%0.00%0.00%0.00%33.33%50.00%0.00%25.00%20.00%0.00%40.00%14.29%25.00%20.00%12.50%20.00%18.18%7.14%20.00%23.08%12.50%10.53%6.67%11.76%5.26%8.70%18.75%9.09%22.22%12.82%17.24%11.76%13.89%18.60%13.16%39.02%21.15%21.31%9.43%8.47%18.18%9.46%32.26%36.36%11.69%-
Timing-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap94.12B
Enterprise Value88.43B
Trailing P/E41.19
Forward P/E31.55
PEG Ratio1.47
Price / Sales11.94
Price / Book41.27
EPS3.11
Book Value3.06
Revenue (TTM)7.88B
Gross Profit (TTM)6.29B
EBITDA2.75B
Profit Margin28.96%
Operating Margin33.82%
Return on Equity153.08%
Return on Assets15.22%
Shares Outstanding734.71M
Shares Float619.90M
Beta1.04
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Hold
Based on 43 analystsTarget 145.55
  • Strong Buy
    6
  • Buy
    1
  • Hold
    30
  • Sell
    2
  • Strong Sell
    4

Ownership Breakdown

Institutions
71.66%
Insiders
17.34%
Retail / Other
11.00%

Top Institutional Holders

  • BlackRock Inc
    62.24M8.47%
  • Vanguard Capital Management, LLC
    40.66M5.53%
  • State Street Corp
    29.63M4.03%
  • Vanguard Portfolio Management, LLC
    24.84M3.38%
  • Amvescap Plc.
    24.62M3.35%
  • Geode Capital Management, LLC
    17.44M2.37%
  • NORGES BANK
    12.45M1.69%
  • First Trust Advisors L.P.
    10.82M1.47%
  • Arrowstreet Capital Limited Partnership
    10.13M1.38%
  • Bank of New York Mellon Corp
    9.33M1.27%
  • AQR Capital Management LLC
    8.67M1.18%
  • Morgan Stanley - Brokerage Accounts
    8.56M1.17%
  • The Goldman Sachs Group Inc
    8.10M1.10%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    19.79M2.69%
  • Vanguard 500 Index Investor
    16.19M2.20%
  • Invesco QQQ Trust
    15.26M2.08%
  • iShares Core S&P 500 ETF
    8.20M1.12%
  • First Trust NASDAQ Cybersecurity ETF
    8.11M1.10%
  • Fidelity 500 Index
    8.08M1.10%
  • State Street® SPDR® S&P 500® ETF
    7.53M1.03%

Stock Splits

  • Jun 23, 20225:1
  • Jun 2, 20112:1