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Fortinet FTNT Price / sales

Price / sales at other companies

Microsoft logo
MicrosoftMSFT
8.6×-1.7×
Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
5.9×+1.9×
F5, Inc. logo
F5, Inc.FFIV
5.1×-0.2×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
22.2×-2.6×
Zscaler logo
ZscalerZS
6.6×-6.1×
Akamai Technologies logo
Akamai TechnologiesAKAM
3.9×+0.9×

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/E54×-14.8×

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 / sales?
Fortinet (FTNT) reported price / sales of 8.5× in Q1 2026.
How has Fortinet's price / sales changed year-over-year?
Fortinet's price / sales decreased by 29.4% year-over-year, from 12.1× to 8.5×.
What is the long-term trend for Fortinet's price / sales?
Over 4 years (2021 to 2025), Fortinet's price / sales has grown at a -6.7% compound annual growth rate (CAGR), from 56.9× to 43.2×.
What does price / sales mean?
How many dollars investors pay for each dollar of the company's annual sales.
How do you interpret price / sales?
Useful when earnings are negative or volatile (e.g. early-stage or cyclical firms). Only comparable across companies with similar margins — a sales dollar is worth more at a high-margin business.
How does price / sales compare across companies?
Best compared within a margin cohort; a software P/S and a retailer P/S are not directly comparable.