Fortinet (FTNT)

NasdaqMarket Closed

Fortinet, Inc. is a global cybersecurity company best known for its network security hardware, software, and subscription services. The company provides protection for enterprises, service providers, government agencies, and small and medium-sized businesses as they manage increasingly distributed IT environments. Its technology portfolio covers secure networking, firewall protection, cloud security, endpoint protection, zero-trust access, and security operations.

Fortinet’s flagship FortiGate firewalls and FortiOS operating system sit at the center of its Security Fabric platform, which is designed to connect multiple security tools into a unified architecture. This platform approach helps customers secure data centers, branch offices, cloud workloads, remote workers, and operational technology environments. The company also offers products for secure SD-WAN, intrusion prevention, email security, identity access, endpoint detection, and security information management.

A significant portion of Fortinet’s business comes from recurring subscriptions and support services, which are sold alongside appliances and software licenses. These services include threat intelligence, security updates, technical support, and advanced protection features. The mix of product sales and recurring security services gives Fortinet exposure to both infrastructure spending and long-term cybersecurity demand.

Headquartered in California, Fortinet serves a large global customer base and competes with other major cybersecurity vendors across network security, cloud security, and managed security markets. Its differentiation rests on high-performance security appliances, broad product integration, and a platform designed to reduce complexity for customers. Demand for Fortinet’s products is shaped by cyber threats, digital transformation, hybrid work, cloud adoption, and the need for enterprises to protect increasingly complex networks.

164.21USD
164.26 USD
+4.57(+2.86%)
After-hours

Last updated

Market Cap
$123,476,670,663
P/E
58.22
P/FCF
39.61
P/S
16.4
Enterprise Value
$121,038,670,663
Sector
Information Technology
Industry
Systems Software
Address
909 KIFER ROAD, SUNNYVALE, CA, 94086
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Market Cap
$123,476,670,663
Enterprise Value
$121,038,670,663
P/E
58.22
P/B
79.61
P/S
16.4
EV / EBITDA
41.39
EV / Sales
16.08
EPS
2.89
Dividend Yield
0%
P/FCF
39.61
P/CF
36.36
Free Cash Flow
$3,117,000,000
ROE
136.72%
ROA
19.53%
Debt / Equity
0.32
Current Ratio
1.28
Quick Ratio
1.19
Cash
0.61
Avg Volume
$5,687,859
Fundamentals Snapshot Price
168.29

Income Statement

Line Item2026 Q22026 Q12025 Q42025 Q32025 Q2
Revenue2.05B1.85B1.91B1.72B1.63B
Cost of revenue404.7M364.5M389.2M331.7M314.9M
Gross profit1.64B1.49B1.52B1.39B1.32B
Operating income688M578.6M615.2M547.3M456.7M
EBITDA635.2M712.6M745M831.7M417M
Net income606.3M534.5M506M473.9M440.1M
Income taxes115M122M144.8M120.7M77.1M
Interest expense-3.2M-4.2M-4.4M-6.2M-4.6M
Other operating expenses000-1.4M0
Total operating expenses955.2M906.5M900.6M845.9M858.4M
Basic EPS0.830.720.680.630.57
Diluted EPS0.820.720.670.620.57

Balance Sheet

Line Item2026 Q22026 Q12025 Q42025 Q32025 Q2
Total assets10.86B9.88B10.39B9.36B10.64B
Total liabilities9.31B8.89B9.15B8.63B8.58B
Total equity1.55B989.7M1.24B735.1M2.06B
Cash & equivalents2.93B2.22B2.5B2B3.37B
Current assets6.21B5.33B5.9B4.91B6.35B
Current liabilities4.84B4.62B5.03B4.79B4.78B
Accounts payable282.5M238.7M230.8M221.3M245.2M
Receivables1.46B1.49B1.69B1.17B1.22B
Inventories426.3M369.6M399.5M426.6M405.2M
Goodwill257.4M257.4M257.4M258.3M258.9M
Long-term debt496.9M496.8M496.6M496.5M496.3M

Cash Flow

Line Item2026 Q22026 Q12025 Q42025 Q32025 Q2
Operating cash flow1.04B1.08B620.2M655.2M451.9M
Investing cash flow-184.6M-5.7M-46.3M-175.8M-266.2M
Financing cash flow-147.9M-1.34B-72.7M-1.85B-414.2M
Change in cash711.1M-271.5M499.6M-1.37B-228.1M
Net income606.3M534.5M506M473.9M440.1M
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