FTNT
Strong BuyPremium GrowerAI pickFortinet, Inc. · Technology · United States · $132.1B cap · $717.3M/day traded
$183.33 +1.9% · close 26 Oct · scored 27 Oct
Premium Grower: Strong business with the market behind it, priced at a premium.
Report expected 4 Nov: the next-year EPS estimate has risen 10.6% over the last 14 weeks.
As of 27 Oct 2026, MoatMap's StockRank for Fortinet, Inc. (FTNT) is 81/100, ranked against 24,000+ stocks in 35 markets (Quality 81, Value 19, Momentum 78, each scored against its sector).
Does StockRank work? Each month we publish how every decile did, whichever way it went. See the record →
Fortinet designs its own security chips (ASICs), which lets it sell firewalls and secure networking at a lower cost per unit of performance than rivals. That cost edge has made it the volume leader in network firewalls and feeds a growing base of recurring security subscriptions. The business is asset-light, generates strong free cash flow, carries net cash and returns capital through buybacks, so it needs no outside funding if interest rates stay high. Two demand drivers support the next 18 months: a firewall refresh cycle after the post-2022 slowdown, and more spending on securing AI workloads and distributed data centres. Insider selling is small at 0.03% of shares over 90 days. The main debate is price. The shares trade at a premium multiple, so the case depends on the refresh cycle and subscription growth arriving as expected.
ABOUT FORTINET, INC.
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Fortinet, Inc. is a global provider of high-performance cybersecurity solutions, offering an integrated platform encompassing firewalls, endpoint security, and secure access products, most notably its FortiGate network security platform. The company's competitive edge lies in its proprietary Security Fabric architecture, which delivers comprehensive, high-performance protection and simplified management across diverse IT environments. Fortinet holds a strong market position as a leader in network security appliances for enterprise clients.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.4B | 5.3B | 6.0B | 6.8B | 15.5% | 7.5B | 8.1B | 9.0B | 15.4% |
| EPS | 1.08 | 1.47 | 2.28 | 2.45 | 31.4% | 2.83 | 3.06 | 3.37 | 17.2% |
| Shares | 781.5M | 761.0M | 767.0M | 743.0M | -4.9% | 733.7M | — | — | — |
| Debt | 990.4M | 992.3M | 994.3M | 996.3M | 0.2% | 561.4M | — | — | — |
| Equity | -281.6M | -463.4M | 1.5B | 1.2B | -17.2% | — | — | — | — |
| Op CF | 1.7B | 1.9B | 2.3B | 2.6B | 14.4% | 3.4B | — | — | — |
| Inv CF | 763.9M | -649.3M | -727.4M | -599.1M | — | — | — | — | — |
| Fin CF | -2.1B | -1.6B | -50.1M | -2.4B | — | — | — | — | — |
Above its 200-day average and 7% below its 52-week high.
Swung more than 53% of stocks we rank over the past year (43% a year).
How this is worked out
StockRank judges the business. The price check reads only the chart: it is the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn like this one cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: day-to-day price moves over the past year, as a yearly figure, ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of FTNT are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| FTNT | Fortinet, Inc.(you) | $132.1B | 81 | Strong Buy |
| XYZ | Block, Inc. | $45.9B | 73 | Buy |
| PLTR | Palantir Technologies Inc. | $472.8B | 86 | Strong Buy |
| TWLO | Twilio Inc. | $40.2B | 73 | Buy |
| NTAP | NetApp, Inc. | $42.3B | 91 | Strong Buy |
| VRSN | VeriSign, Inc. | $26.9B | 83 | Strong Buy |
| FFIV | F5, Inc. | $25.8B | 85 | Strong Buy |
| OKTA | Okta, Inc. | $37.2B | 69 | Buy |
| CPAY | Corpay, Inc. | $26.8B | 75 | Buy |
| PANW | Palo Alto Networks, Inc. | $311.3B | 55 | Hold |
Peer medians: ROE 8.2% · P/E 26.9x · Gross margin 33.1%
Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.