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133.57 USD
P/E
47.23
EPS
2.58
P/B
90.40
ROE
132.39
Beta
0.92
Target Price
106.47 USD
Fortinet, Inc. logo

Fortinet, Inc.

🧾 Earnings Recap – Q1 2026

Fortinet’s stock rallied 20.1% post-earnings, driven by billings growth well above expectations and a confident raised outlook, reflecting strong demand across its secure networking and AI-driven solutions.

  • Total billings surged 31% to $2.09 billion, led by 32% growth in secure networking and over 70% growth in operational technology (OT) security billings.
  • Product revenue jumped 41% to $645 million, fueled by AI-related deployments and customer upgrades to higher-performance FortiGate hardware.
  • Unified SASE billings grew 31%, with FortiSASE adoption expanding significantly within large enterprise accounts (18% penetration, +45% increase).
  • Service revenue increased 11% to $1.21 billion, aided by accelerating service billings growth of 27% and deferred revenue up 15%.
  • Operating margins remained strong, with GAAP margin at 31% and non-GAAP at 36%, supporting a 29% increase in GAAP EPS and $1 billion in free cash flow.
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Key Metrics
Earnings dateAug. 5, 2026
P/E47.23
EPS2.58
Book Value1.35
Price to Book90.40
Debt/Equity57.31
% Insiders17.387%
Growth
Revenue Growth0.20%
Earnings Growth0.29%
Estimates
Forward P/E35.56
Forward EPS3.43
Target Mean Price106.47

DCF Valuation

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Fortinet, Inc. Logo Fortinet, Inc. Analysis (FTNT)

United States Information Technology Official Website Stock

Is Fortinet, Inc. a good investment? Fortinet, Inc. (FTNT) is currently trading at 133.57 USD. Market analysts have a consensus price target of 106.47 USD. This suggests the asset is currently trading above analyst expectations.

In terms of valuation, the stock trades at a P/E ratio of 47.23. This high multiple suggests investors have priced in significant future growth expectations.

Earnings Schedule: Fortinet, Inc. is expected to release its next earnings report on Aug. 5, 2026. The market consensus estimate for Forward EPS is 3.43.

Investor FAQ

Does Fortinet, Inc. pay a dividend?

No, it does not currently pay a dividend.

What asset class is Fortinet, Inc.?

Fortinet, Inc. is classified as a Stock. You can compare it against 2 other assets in the "Related Symbols" list on this page.

When is the next earnings date?

The next earnings date is projected to be Aug. 5, 2026. The company currently has a trailing EPS of 2.58.

Company Profile

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.

Exchange Ticker
NMS (United States) FTNT
LSE (United Kingdom) 0IR9.L

Dividends

Historical Split Corporate Actions

Split Date Split Ratio to 1
June 2, 2011 2.000000
June 23, 2022 5.000000
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