Stocktoria

Fortinet, Inc. FTNT

Nasdaq · stock · Computer Peripheral Equipment, NEC · website · IPO 2009-11-18 · LEI

Fortinet, Inc. (FTNT) earns a Piotroski F-score of 6/9 (mixed financial health), with an Altman Z″ in the grey zone. It does not currently pay a dividend. FY2025 revenue was $6.8B at a 27.3% net margin.

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75/100
Stocktoria Quality Score · grade A
6/9
Piotroski F — financial health
1.88
Altman Z″ — distress risk · grey
Dividend yield · no dividend
-2.65
Beneish M-score — earnings quality · low

Quality score trend · recomputed for each fiscal year

Piotroski F /9
6 5 7 5 7 5 7 8 8 6 2016201720182019202020212022202320242025
Altman Z″
3.04 2.25 3.03 3.52 2.36 2.07 0.96 0.89 2.68 1.88 2016201720182019202020212022202320242025

Each year's score is computed from that year's filing — a rising Piotroski F or Altman Z″ means improving financial health, a fall is worth a look.

$160.84 as of 2026-08-01 · +104.2% 1y
$78.77$161.9552-wk

Beneish M-score: -2.65 — low (below −2.22 — no manipulation red flag) . A statistical screen for earnings manipulation, not proof — and it doesn't apply to most banks/insurers.

Market cap USD$110.9B
P / E59.8×
Net margin 5y avg23.2%
Return on equity 5y avg114.2%
Beta1.06
Employees15,472

Analyst price target

$160.86
consensus: hold · 37 analysts
target range $86.00 – $220.00 · median $165.00
1 strong buy · 10 buy · 29 hold · 3 sell · 1 strong sell
Recent analyst actions
DateFirmRating
2026-07-31SusquehannaNeutral (main)
2026-07-30CitigroupNeutral (main)
2026-07-30Piper SandlerNeutral (main)
2026-07-30RBC CapitalSector Perform (main)
2026-07-30Morgan StanleyEqual-Weight (main)
2026-07-30StifelHold (main)

Wall Street analyst consensus — a sentiment gauge, not our scoring.

Forward estimates · earnings calendar →

Forward EPS est.$3.76
Forward P / E42.8×

Consensus analyst estimates and scheduled dates — forward-looking, may change.

Smart money · insiders, last 12 months

Insiders net sold -$42.7M on the open market · 16 trades

Open-market insider purchases minus sells (SEC Form 4) — real buying with their own money is a bullish “smart money” signal; grants and option exercises are excluded.

Revenue trend · last 10y · up

How it ranks in Manufacturing · percentile among 1957 companies

Piotroski Fstronger than 78%
Net marginstronger than 95%
Return on equitystronger than 99%
Revenue growthstronger than 72%

Percentile vs other Manufacturing companies we cover — e.g. “stronger than 90%” means only 10% score higher on that measure.

Piotroski F breakdown · 6/9 tests passed

Altman Z″ components · grey zone

ComponentValue
Working capital / assets0.083
Retained earnings / assets-0.049
EBIT / assets0.201
Equity / liabilities0.135

Sector peers · similar-size Manufacturing companies compare side by side →

TickerCompanyPiotroski FAltman Z″P / ERevenue growth
FTNTFortinet, Inc.6/91.8859.8+14.2%
XRXXerox Holdings Corp3/9+12.9%
LOGILOGITECH INTERNATIONAL S.A.6/98.3716.3+6.3%
PANWPalo Alto Networks Inc4/91.09218.6+14.9%
IMMRIMMERSION CORP5/93.8751.4+11.2%
CRSRCorsair Gaming, Inc.6/92.15+11.9%
SSYSSTRATASYS LTD.2/9-1.42-3.7%

All Manufacturing companies →

About Fortinet, Inc.

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.

FAQ

Is FTNT financially healthy?

Fortinet, Inc.'s Piotroski F-score is 6/9 (8–9 is excellent, 0–3 weak), and its Altman Z″ distress score is in the grey zone.

Does FTNT pay a dividend?

No, Fortinet, Inc. does not currently pay a dividend.

How profitable is FTNT?

In FY2025, Fortinet, Inc. had a net margin of 27.3% and a return on equity of 149.8%.

Is FTNT overvalued or undervalued?

Fortinet, Inc. trades at about 66.5× trailing earnings — above its 10-year norm (10-year range 33.6×–255.8×, median 49.9×). Stocktoria reports the data, not buy/sell advice.

What is the analyst price target for FTNT?

The average Wall-Street price target for Fortinet, Inc. is $160.86, about 0.0% above the recent price, from 37 analysts (consensus: hold).

Is FTNT a good stock to buy?

Stocktoria doesn't give buy or sell advice, but here is the data on Fortinet, Inc.: a Piotroski F-score of 6/9, an Altman Z″ in the grey zone, a P/E of about 59.8×. Weigh these quality and valuation signals against your own goals.

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.