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Fortinet FTNT Price / earnings

Price / earnings at other companies

Microsoft logo
MicrosoftMSFT
22×-6.9×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
30.2×+7.4×
F5, Inc. logo
F5, Inc.FFIV
23.1×-1.6×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
664.2×
Akamai Technologies logo
Akamai TechnologiesAKAM
38.2×+11.5×
Fortive logo
FortiveFTV
31.3×+0.1×

Other financials

Income statement

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Revenue$1.8B+20.1%
Gross profit$1.5B+19.1%
Operating income$580.0M+27.8%
Net income$534.5M+23.3%
EPS (diluted)$0.72+28.6%

Balance sheet

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Cash & equivalents$2.2B-38.2%
Total debt$567.2M-47.3%
Total equity$989.7M-49.6%
Total assets$9.9B-5.0%

Cash flow

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Operating cash flow$1.1B+24.8%
CapEx$70.6M+6.2%
Free cash flow$1.0B+26.3%

Valuation

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Market cap$105.6B-18.3%
Enterprise value$103.95B-17.7%
P/S14.9×-6.2×

Profitability

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Gross margin80.3%-1.0pp
Operating margin31.1%-0.4pp
Net margin27.5%-3.1pp

Returns & leverage

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Return on equity132.4%
Debt / equity0.6×0.0×
Current ratio1.2×-0.2×

Where this comes from

Calculated from Fortinet’s reported figures.

Based on the most recent quarter.

The official record: Fortinet’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fortinet's price / earnings?
Fortinet (FTNT) reported price / earnings of 30.9× in Q1 2026.
How has Fortinet's price / earnings changed year-over-year?
Fortinet's price / earnings decreased by 21.5% year-over-year, from 39.4× to 30.9×.
What is the long-term trend for Fortinet's price / earnings?
Over 4 years (2021 to 2025), Fortinet's price / earnings has grown at a -17.6% compound annual growth rate (CAGR), from 318× to 146.8×.
What does price / earnings mean?
How many dollars investors pay for each dollar of the company's annual profit.
How do you interpret price / earnings?
Lower can mean cheaper — or that the market expects earnings to fall. High multiples embed growth expectations. Meaningless when earnings are negative, so it is suppressed there.
How does price / earnings compare across companies?
Compare against the company's own history and sector peers, not across sectors with different growth and risk profiles.