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Fortinet Inc Stock Research

FTNT

58.94USD-1.21(-2.01%)Delayedas of 21 Sep 2023, 12:12 pm
Watchlist

Market Summary

USD58.94-1.21
Delayedas of 21 Sep 2023, 12:12 pm
-2.01%

FTNT Alerts

FTNT Stock Price

FTNT RSI Chart

FTNT Valuation

Market Cap

47.3B

Price/Earnings (Trailing)

44.6

Price/Sales (Trailing)

9.47

EV/EBITDA

33.22

Price/Free Cashflow

24.31

FTNT Price/Sales (Trailing)

FTNT Profitability

EBT Margin

23.45%

Return on Equity

8.5K%

Return on Assets

14.15%

Free Cashflow Yield

4.11%

FTNT Fundamentals

FTNT Revenue

Revenue (TTM)

5.0B

Revenue Y/Y

25.5%

Revenue Q/Q

2.42%

FTNT Earnings

Earnings (TTM)

1.1B

Earnings Y/Y

53.49%

Earnings Q/Q

7.51%

Price Action

52 Week Range

42.6181.24
(Low)(High)

Last 7 days

-3.9%

Last 30 days

3.0%

Last 90 days

-16.3%

Trailing 12 Months

18.5%

FTNT Financial Health

Current Ratio

1.34

FTNT Investor Care

Buy Backs (1Y)

1.23%

Diluted EPS (TTM)

1.32

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs
Net sales

Latest Insider Trading transactions for FTNT

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-09-08
NEUKOM WILLIAM H.
bought
34,928
63.276
552
-
2023-08-23
Jensen Keith
sold
-1,457,980
58.9915
-24,715
cfo & chief accounting officer
2023-08-23
Jensen Keith
acquired
703,681
28.4718
24,715
cfo & chief accounting officer
2023-08-21
Perche Patrice
sold
-439,179
58.2852
-7,535
chief revenue off./evp supp.
2023-08-21
Perche Patrice
acquired
215,352
28.5802
7,535
chief revenue off./evp supp.
2023-08-18
Jensen Keith
sold
-291,737
57.2033
-5,100
cfo & chief accounting officer
2023-08-03
Perche Patrice
sold
-672,051
75.3167
-8,923
chief revenue off./evp supp.
2023-08-02
Xie Michael
sold
-441,678
75.0515
-5,885
vp, engineering & cto
2023-08-01
Whittle John
acquired
-
-
6,200
vp corp dev&strat alliance,gc
2023-08-01
Whittle John
sold (taxes)
-240,020
78.03
-3,076
vp corp dev&strat alliance,gc

1–10 of 50

Which funds bought or sold FTNT recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-09-12
DAVIDSON KEMPNER CAPITAL MANAGEMENT LP
sold off
-100
-13,290,000
-
-%
2023-09-12
Farther Finance Advisors, LLC
added
2.5
6,602
46,412
0.01%
2023-09-08
TUCKER ASSET MANAGEMENT LLC
reduced
-48.09
-25,699
37,039
0.01%
2023-09-07
ST GERMAIN D J CO INC
new
-
40,063
40,063
-%
2023-09-05
Delos Wealth Advisors, LLC
reduced
-97.08
-22,040
756
-%
2023-09-05
Westshore Wealth, LLC
new
-
264,565
264,565
0.14%
2023-09-01
Manhattan West Asset Management, LLC
added
15.69
364,999
1,520,870
0.57%
2023-08-30
CHAPIN DAVIS, INC.
new
-
1,627,680
1,627,680
0.77%
2023-08-29
Garde Capital, Inc.
unchanged
-
46,000
378,000
0.03%
2023-08-28
DT Investment Partners, LLC
unchanged
-
1,598
8,194
-%

1–10 of 46

Latest Funds Activity

Are funds buying FTNT calls or puts?
Calls
Puts
No. of funds holding Calls - Puts
Net Call Options
No. of funds that own FTNT
No. of Funds

Schedule 13G FIlings of Fortinet

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 14, 2023
price t rowe associates inc /md/
1.7%
12,940,042
SC 13G/A
Feb 10, 2023
xie ken
9.9%
77,711,049
SC 13G/A
Feb 10, 2023
xie michael
9.0%
70,195,073
SC 13G/A
Feb 09, 2023
vanguard group inc
8.62%
67,373,952
SC 13G/A
Feb 01, 2023
blackrock inc.
6.5%
50,584,230
SC 13G/A
Feb 14, 2022
price t rowe associates inc /md/
6.5%
10,707,518
SC 13G
Feb 09, 2022
xie michael
8.8%
14,285,419
SC 13G/A
Feb 09, 2022
xie ken
9.7%
15,793,282
SC 13G/A
Feb 03, 2022
blackrock inc.
7.1%
11,668,040
SC 13G/A
Feb 11, 2021
xie michael
8.9%
14,540,465
SC 13G/A

Recent SEC filings of Fortinet

View All Filings
Date Filed Form Type Document
Sep 08, 2023
4
Insider Trading
Aug 24, 2023
4
Insider Trading
Aug 23, 2023
144
Notice of Insider Sale Intent
Aug 22, 2023
4
Insider Trading
Aug 21, 2023
144
Notice of Insider Sale Intent
Aug 21, 2023
4
Insider Trading
Aug 18, 2023
4
Insider Trading
Aug 18, 2023
4
Insider Trading
Aug 18, 2023
4
Insider Trading
Aug 18, 2023
4
Insider Trading

FTNT Fair Value

Loading...

Peers (Alternatives to Fortinet)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
2.4T
211.9B
-0.34% 32.68%
32.95
11.25
6.88% -0.52%
244.3B
18.4B
2.94% 84.08%
50.33
13.26
10.40% -0.72%
72.5B
6.9B
-2.29% 34.44%
164.98
10.52
25.29% 264.68%
47.3B
5.0B
3.01% 18.48%
44.6
9.47
27.39% 57.18%
20.6B
4.5B
2.27% -10.75%
145.2
4.61
3.92% -85.69%
MID-CAP
4.6B
1.8B
3.31% 47.91%
78.81
2.53
-2.90% -29.27%
3.0B
861.0M
16.40% -8.42%
-5.28
3.46
20.93% -427.10%
SMALL-CAP
1.1B
273.2M
0.89% 14.76%
23.87
4
2.45% -55.34%
444.0M
157.2M
- 17.40%
65.72
3.18
24.45% -48.07%
258.0M
60.7M
- -
18.58
3.7
-7.25% -67.19%
4.6M
8.1M
-22.52% -69.99%
-0.42
0.56
33.04% -88.92%
-
-
-2.38% -98.14%
-
-
- -
16.1M
-
1.30% -53.31%
-1.29
0.75
- -

Fortinet News

MarketBeat
Xponance Inc. Has $13.78 Million Stock Holdings in Fortinet, Inc ....
MarketBeat,
18 minutes ago
The Motley Fool
InvestorsObserver
BNN Bloomberg

Returns for FTNT

Cumulative Returns on FTNT

30.3%


10-Year Cumulative Returns

35.4%


7-Year Cumulative Returns

28.6%


5-Year Cumulative Returns

36.9%


3-Year Cumulative Returns

Risks for FTNT

What is the probability of a big loss on FTNT?

88.8%


Probability that Fortinet stock will be more than 20% underwater in next one year

30.4%


Probability that Fortinet stock will be more than 30% underwater in next one year.

0%


Probability that Fortinet stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does FTNT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Fortinet was unfortunately bought at previous high price.

Drawdowns

Financials for Fortinet

Income Statement (Last 12 Months)
(In Millions)
Income Statement (Last 12 Months)
(In Millions)
(*) denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q22023Q12022Q42022Q32022Q22022Q12021Q42021Q22021Q12020Q42020Q32020Q22020Q12019Q42019Q32019Q22019Q12018Q42018Q32018Q22018Q1
Revenue5.6%4,9884,7254,4174,1663,9153,6643,4132,9112,7272,5942,4652,3622,2662,1632,0531,9591,8781,8052,1261,9091,831
Gross Profit6.1%3,8043,5863,3333,0822,8722,7072,5592,2612,1292,0241,9211,8331,7441,6571,5591,4771,4121,3541,2841,2221,161
Operating Expenses5.4%2,6282,4942,3632,2552,1442,0271,9091,6951,5921,4931,4371,3751,3291,3061,2441,2001,1591,1201,0951,0631,025
  S&GA Expenses5.7%1,8771,7771,6861,5981,5181,4291,3461,1891,1161,0721,038998971927876847813782768742716
  R&D Expenses5.4%568539512496470452424383358341324304289277271260254245234229219
EBITDA-100.0%-1,2331,078915804758728640612611572547506448-------
EBITDA Margin-100.0%-0.26*0.24*0.22*0.21*0.21*0.22*0.22*0.22*0.24*0.23*0.23*0.22*0.21*-------
Interest Expenses3.8%19.0019.0018.0018.0018.0018.0015.006.001.00------------
Earnings Before Taxes10.4%1,2231,108956795687648628565543542501479441386348312278254204171153
EBT Margin-100.0%-0.23*0.22*0.19*0.18*0.18*0.19*0.19*0.20*0.21*0.20*0.20*0.20*0.18*-------
Net Income9.6%1,05996785774367463860751549148946041737633239737635233512189.0062.00
Net Income Margin-100.0%-0.20*0.19*0.18*0.18*0.18*0.18*0.18*0.18*0.19*0.18*0.17*0.16*0.15*-------
Free Cashflow-100.0%-1,801-1,2361,1761,2931,3071,104923959853877843748738------
Balance Sheet
(In Millions)
Balance Sheet
(In Millions)
(*) denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q22023Q12022Q42022Q32022Q22022Q12021Q42021Q32021Q22021Q12020Q42020Q32020Q22020Q12019Q42019Q32019Q22019Q12018Q42018Q32018Q2
Assets9.6%7,4866,8326,2285,3365,2955,6515,9195,9715,5595,2824,0453,5863,3313,2063,8793,5463,3693,2063,0782,7642,576
  Current Assets11.9%4,8784,3593,8102,9822,9533,2083,6013,9643,9083,7812,7402,3852,2092,0352,7692,4662,3612,3132,2212,0781,885
    Cash Equivalents3.1%2,3762,3041,6839647109241,3191,8521,8791,8601,0628829166261,2231,1761,0221,2171,1121,169972
  Inventory24.3%37630326521619518517617815015014013512610511899.0086.0088.0090.0081.0078.00
  Net PPE7.0%982917899890815787688557507494448419393374344306285272271265256
  Goodwill-1.4%12612812812012112412512899.0099.0093.0068.0067.0067.0067.0038.0038.0038.00---
Liabilities5.0%7,1656,8216,5105,9595,6745,4185,1214,8354,5094,3013,1892,8732,7872,6702,5372,3452,2472,1482,0681,8721,796
  Current Liabilities7.3%3,5013,2623,0782,7802,6352,5112,3182,1981,9991,8801,8301,6461,6121,5431,4561,3421,2941,2541,2561,1121,085
    LT Debt, Non Current0.0%991991990990989989988988988987-----------
Shareholder's Equity2717.5%32111.00-281--3792337981,1361,0509818567135675571,3421,2181,1391,0581,026892780
  Retained Earnings20.5%-1,032-1,298-1,546-1,860-1,607-1,003-467-138-195-244-352-466-613-58916147.00-9.00-50.00-57.50-156-214
  Additional Paid-In Capital3.7%1,3761,3271,2841,2501,2371,2361,2541,2581,2461,2251,2071,1791,1541,1281,1801,1531,1301,1081,0681,048996
Shares Outstanding0.2%786784782780795803810818817815813811808853859857856851849849843
Minority Interest----12.0013.0016.0017.0018.00-------------
Cashflow (Last 12 Months)
(In Millions)
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2023Q22023Q12022Q42022Q32022Q22022Q12021Q42021Q32021Q22021Q12020Q42020Q32020Q22020Q12019Q42019Q32019Q22019Q12018Q42018Q32018Q2
Cashflow From Operations9.5%2,2042,0121,7311,5691,4851,5801,5001,4291,2511,0801,084978978926808798753701639616602
  Share Based Compensation4.7%231220217216214212208204200196192187180176174173174169163155146
Cashflow From Investing-93.6%49.00767764281-324-897-1,325-1,124-1,041-550-72.80-10790.00-458-502-530-492-148-13458.0018.00
Cashflow From Financing58.1%-585-1,398-2,130-2,736-2,328-1,61983.00664753705-1,171-1,163-1,173-1,058-195-261-211-170-202-410-500
  Buy Backs-61.5%5001,3001,9912,5632,1721,4637422351261801,0801,0641,090979145216190157212439530

FTNT Income Statement

2023-06-30
Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE:    
Total revenue$ 1,292.8$ 1,030.1$ 2,555.1$ 1,984.9
COST OF REVENUE:    
Total cost of revenue295.8250.8603.6504.6
GROSS PROFIT:    
Total gross profit997.0779.31,951.51,480.3
OPERATING EXPENSES:    
Research and development153.3124.3304.4249.2
Sales and marketing515.9415.5994.2803.1
General and administrative49.945.4102.784.0
Gain on intellectual property matter(1.1)(1.2)(2.3)(2.3)
Total operating expenses718.0584.01,399.01,134.0
OPERATING INCOME279.0195.3552.5346.3
INTEREST INCOME31.62.452.23.7
INTEREST EXPENSE(5.2)(4.5)(10.2)(9.0)
OTHER EXPENSE—NET(6.2)(9.3)(4.2)(18.4)
INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENT299.2183.9590.3322.6
PROVISION FOR (BENEFIT FROM) INCOME TAXES27.62.448.9(5.7)
LOSS FROM EQUITY METHOD INVESTMENT(5.3)(8.1)(27.4)(16.6)
NET INCOME INCLUDING NON-CONTROLLING INTERESTS266.3173.4514.0311.7
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS, NET OF TAX0.0(0.1)0.0(0.2)
NET INCOME ATTRIBUTABLE TO FORTINET, INC.$ 266.3$ 173.5$ 514.0$ 311.9
Net income per share attributable to Fortinet, Inc. (Note 9):    
Basic (in dollars per share)$ 0.34$ 0.22$ 0.66$ 0.39
Diluted (in dollars per share)$ 0.33$ 0.21$ 0.65$ 0.38
Weighted-average shares used to compute net income per share attributable to Fortinet, Inc.:    
Basic (in shares)785.0795.4784.1799.4
Diluted (in shares)795.9810.1794.7815.4
Product    
REVENUE:    
Total revenue$ 472.6$ 400.7$ 973.3$ 771.7
COST OF REVENUE:    
Total cost of revenue174.5155.2368.1316.2
GROSS PROFIT:    
Total gross profit298.1245.5605.2455.5
Service    
REVENUE:    
Total revenue820.2629.41,581.81,213.2
COST OF REVENUE:    
Total cost of revenue121.395.6235.5188.4
GROSS PROFIT:    
Total gross profit$ 698.9$ 533.8$ 1,346.3$ 1,024.8

FTNT Balance Sheet

2023-06-30
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:  
Cash and cash equivalents$ 2,376.3$ 1,682.9
Short-term investments915.1502.6
Marketable equity securities22.125.5
Accounts receivable—net1,078.81,261.7
Inventory376.3264.6
Prepaid expenses and other current assets109.573.1
Total current assets4,878.13,810.4
LONG-TERM INVESTMENTS4.245.5
PROPERTY AND EQUIPMENT—NET981.9898.5
DEFERRED CONTRACT COSTS558.8518.2
DEFERRED TAX ASSETS729.2569.4
GOODWILL126.0128.0
OTHER INTANGIBLE ASSETS—NET44.656.0
OTHER ASSETS163.3202.0
TOTAL ASSETS7,486.16,228.0
CURRENT LIABILITIES:  
Accounts payable238.3243.4
Accrued liabilities266.8248.7
Accrued payroll and compensation224.8219.4
Income taxes payable183.017.6
Deferred revenue2,587.72,349.3
Total current liabilities3,500.63,078.4
DEFERRED REVENUE2,540.92,291.0
INCOME TAX LIABILITIES59.167.8
LONG-TERM DEBT991.3990.4
OTHER LIABILITIES73.082.0
Total liabilities7,164.96,509.6
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS’ EQUITY (DEFICIT):  
Common stock, $0.001 par value—1,500.0 shares authorized; 785.6 and 781.5 shares issued and outstanding on June 30, 2023 and December 31, 2022, respectively0.80.8
Additional paid-in capital1,375.91,284.2
Accumulated other comprehensive loss(23.1)(20.2)
Accumulated deficit(1,032.4)(1,546.4)
Total stockholders’ equity (deficit)321.2(281.6)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)$ 7,486.1$ 6,228.0
Ken Xie
10200
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.