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Fortinet, Inc. FTNT NASDAQ

NASDAQ Global Select • Technology • Software - Infrastructure • US • USD

SharesGrow Score
72/100
4/7 Pass
SharesGrow Intrinsic Value
$64.22
-18.4%
Analyst Price Target
$85.67
+8.9%
SharesGrow 7-Criteria Score All 7 criteria scored · valuation-related highlighted on this page

Fortinet, Inc. (FTNT) trades at a trailing P/E of 33.1, forward P/E of 26.5. Trailing earnings yield is 3.02%, forward earnings yield 3.78%. PEG 4.42. Graham Number is $9.67.

Criteria proven by this page:

  • VALUE (44/100, Partial) — mixed signals — some valuation metrics are favorable while others are stretched.
  • Forward P/E 26.5 (down from trailing 33.1) — analysts expect earnings to grow, which would improve the valuation.
  • PEG Ratio 4.42 — above 2.0 suggests expensive relative to earnings growth.
  • Trailing Earnings Yield 3.02% — roughly competitive with bond yields (~4.3%), moderate risk-reward. Forward yield improves to 3.78% as earnings recover.
  • Analyst consensus target $85.67 (+8.9% upside) — modest upside expected.

Overall SharesGrow Score: 72/100 with 4/7 criteria passed.

SharesGrow 7-Criteria Score
72/100
SG Score
View full scorecard →
~
VALUE
44/100
Price-to-Earnings & upside
Proven by this page
~
FUTURE
40/100
Analyst consensus
→ Forecast
PAST
100/100
→ Income
~
HEALTH
67/100
Debt-to-Equity & liquidity
→ Health
MOAT
80/100
→ Income
GROWTH
90/100
→ Income
INCOME
85/100
→ Income

Valuation Snapshot — FTNT

Valuation Multiples
P/E (TTM)33.1
Forward P/E26.5
PEG Ratio4.42
Forward PEG1.18
P/B Ratio49.59
P/S Ratio9.03
EV/EBITDA24.4
Per Share Data
EPS (TTM)$2.49
Forward EPS (Est.)$2.97
Book Value / Share$1.67
Revenue / Share$9.15
FCF / Share$3.00
Yields & Fair Value
Earnings Yield3.02%
Forward Earnings Yield3.78%
Dividend Yield0.00%
Graham Number$9.67
SharesGrow IV$64.22 (-18.4%)
Analyst Target$85.67 (+8.9%)

Historical Valuation

Year P/E (TTM) PEG Ratio P/B Ratio P/S Ratio Dividend Yield
2016 161.3 0.58 6.20 4.07 -
2017 242.6 -46.09 12.92 5.10 -
2018 35.6 0.04 11.79 6.60 -
2019 55.0 0.00 13.60 8.44 -
2020 49.9 0.93 28.50 9.40 -
2021 96.7 4.14 75.03 17.55 -
2022 45.1 0.98 -137.40 8.76 -
2023 39.7 1.10 -98.34 8.59 -
2024 41.4 0.75 48.35 12.13 -
2025 31.8 4.54 47.68 8.68 -

EPS: Actual vs Estimates

P/E Ratio & Earnings Yield

Earnings Per Share (EPS) History

Year EPS (Diluted) Revenue Net Income Net Margin
2016 $0.04 $1.28B $32.19M 2.5%
2017 $0.04 $1.49B $31.4M 2.1%
2018 $0.38 $1.8B $332.2M 18.4%
2019 $0.38 $2.16B $326.5M 15.1%
2020 $0.58 $2.59B $488.5M 18.8%
2021 $0.73 $3.34B $606.8M 18.2%
2022 $1.06 $4.42B $857.3M 19.4%
2023 $1.46 $5.3B $1.15B 21.6%
2024 $2.26 $5.96B $1.75B 29.3%
2025 $2.43 $6.8B $1.85B 27.3%

Analyst Estimates

Year EPS (Avg) EPS Range Revenue (Avg) Revenue Range Analysts
2026 $2.97 $2.76 – $3.09 $7.6B $7.52B – $7.67B 26
2027 $3.30 $3.01 – $3.61 $8.39B $7.92B – $8.67B 25
2028 $3.67 $3.17 – $4.04 $9.16B $9.14B – $9.18B 8
2029 $3.08 $2.97 – $3.16 $11.12B $10.81B – $11.34B 6
2030 $3.29 $3.17 – $3.38 $11.87B $11.54B – $12.1B 6
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