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FTNT

51.67USD-1.94(-3.62%)Market Closed

Fortinet Inc

Market Summary

USD51.67-1.94Market Closed
-3.62%

FTNT Alerts

FTNT Stock Price

RSI Chart

Valuation

Market Cap

45.0B

Price/Earnings

66.8

Price/Sales

11.8

Price/Cashflow

30.32

MarketCap/EBT

65.58

Price/Sales

Profitability

EBT Margin

17.99%

Return on Equity

309.6%

Return on Assets

12.73%

Fundamentals

Revenue

Revenue (TTM)

4.1B

Revenue Y/Y

32.55%

Revenue Q/Q

11.59%

Earnings

Earnings (TTM)

742.5M

Earnings Y/Y

42%

Earnings Q/Q

33.49%

Price Action

52 Week Range

42.61371.77
(Low)(High)

Last 7 days

-0.8%

Last 30 days

9.7%

Last 90 days

4.1%

Trailing 12 Months

-14.7%

Financial Health

Current Ratio

1.12

Debt/Equity

4.54

Debt/Cashflow

1.5

Investor Care

Buy Backs (1Y)

4.44%

Diluted EPS (TTM)

0.91

Peers (Alternatives to Fortinet)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
1.8T
203.1B
13.33% -21.82%
25.2
8.66
15.22% 2.81%
151.4B
17.2B
16.92% -45.81%
31.46
8.81
13.86% -17.57%
51.8B
5.8B
19.53% -2.09%
-361.45
8.91
27.65% 71.90%
45.0B
4.1B
9.70% -14.69%
66.8
11.8
31.07% 33.90%
25.1B
4.3B
-5.89% -60.36%
25.38
5.85
11.14% -39.03%
MID-CAP
3.3B
1.8B
15.70% -17.46%
39.65
1.75
-5.95% -38.66%
2.7B
705.0M
9.75% -45.86%
-157.26
3.79
-9.27% 97.39%
SMALL-CAP
1.3B
266.7M
3.79% 26.67%
12.76
4.9
14.32% 334.21%
494.2M
139.8M
-7.53% -37.07%
64.57
3.54
19.31% -31.47%
194.6M
67.0M
-10.53% -16.93%
11.64
2.97
49.44% 82.93%
125.3M
2.9B
-19.87% -93.27%
-5.72
0.04
-1.22% -12.50%
16.0M
21.5M
-43.90% -73.63%
-1.08
0.72
-14.17% 24.35%
13.7M
6.2M
-39.29% -58.74%
-2.37
2.24
18.17% -59.80%

Financials for Fortinet

Income Statement (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Revenue7.4%4,0983,8163,5873,3423,127
Gross Profit7.3%3,0822,8722,7072,5592,405
Operating Expenses5.2%2,2552,1442,0271,9091,800
  S&GA Expenses5.3%1,5981,5181,4291,3461,269
  R&D Expenses5.6%496470452424401
Earnings Before Taxes15.7%795687648628593
Net Income10.2%743674638607555
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Assets0.8%5,3365,2955,6515,9195,971
  Current Assets1.0%2,9822,9533,2083,6013,964
    Cash Equivalents35.8%9647109241,3191,852
  Inventory10.6%216195185176178
  Net PPE9.2%890815787688557
  Goodwill-0.9%120121124125128
Liabilities5.0%5,9595,6745,4185,1214,835
  Current Liabilities5.5%2,7802,6352,5112,3182,198
    LT Debt, Current-18----
    LT Debt, Non Current0.1%990989989988988
Shareholder's Equity-72.2%2187821,118--
  Retained Earnings-15.7%-1,860.20-1,607.60-1,003.40-467.90-138.60
  Additional Paid-In Capital1.0%1,2501,2371,2361,2541,258
Accumulated Depreciation-212----
Shares Outstanding-1.1%780788802810817
Minority Interest-10.5%1213161718
* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Cashflow From Operations5.7%1,5691,4851,5801,5001,429
  Share Based Compensation0.6%216215213208205
Cashflow From Investing186.4%281-324.70-897.00-1,325.10-1,124.20
Cashflow From Financing-17.5%-2,736.50-2,328.60-1,619.2083664
  Buy Backs18.0%2,5632,1721,463742235

Risks

What is the probability of a big loss on FTNT?

73.5%


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

24.6%


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.

Returns

Cumulative Returns on FTNT

29.4%


10-Year Cumulative Returns

33.3%


7-Year Cumulative Returns

44.3%


5-Year Cumulative Returns

35.6%


3-Year Cumulative Returns

What are the long-term rolling returns for FTNT?

FIve years rolling returns for Fortinet.

Which funds bought or sold FTNT recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2022-11-29
Bridgefront Capital, LLC
SOLD OFF
-100
-452,000
-
-%
2022-11-23
Toroso Investments, LLC
ADDED
4.87
-109,000
1,106,000
0.05%
2022-11-23
Eagle Bay Advisors LLC
SOLD OFF
-100
-283
-
-%
2022-11-22
IHT Wealth Management, LLC
NEW
-
306,000
306,000
0.02%
2022-11-22
Seaport Global Advisors, LLC
ADDED
22.87
22,000
353,000
1.44%
2022-11-22
Capital Impact Advisors, LLC
REDUCED
-17.02
-213,000
547,000
0.54%
2022-11-22
B. Riley Wealth Advisors, Inc.
ADDED
7.18
-158,000
2,119,000
0.06%
2022-11-22
CVA Family Office, LLC
REDUCED
-6.9
-8,000
33,000
0.01%
2022-11-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
NEW
-
3,037,000
3,037,000
0.04%
2022-11-21
Parallax Volatility Advisers, L.P.
REDUCED
-98.74
-735,000
8,000
-%

1–10 of 46

Latest Funds Activity

Are funds buying FTNT calls or puts?
Are funds bullish or bearish(Calls - Puts)?
No. of funds that own FTNT

Fortinet News

MarketWatch

Equifax Inc. stock outperforms market on strong trading day.21 minutes ago

FTNT Fair Value

Fortinet fair value in different scenarios

The table shows the Fair Value estimates for Fortinet for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

23.46

-54.60%

34.92

-32.42%

50.53

-2.21%

61.48

18.99%

73.81

42.85%

Current Inflation

21.10

-59.16%

30.78

-40.43%

43.67

-15.48%

52.87

2.32%

63.10

22.12%

Very High Inflation

18.23

-64.72%

25.88

-49.91%

35.73

-30.85%

42.96

-16.86%

50.87

-1.55%

Historical Fortinet Fair Value Estimates


Recent SEC filings of Fortinet

View All Filings
Date Filed Form Type Document
Nov 18, 2022
4
Insider Trading
Nov 14, 2022
4
Insider Trading
Nov 07, 2022
10-Q
Quarterly Report
Nov 03, 2022
4
Insider Trading
Nov 03, 2022
4
Insider Trading
Nov 03, 2022
4
Insider Trading
Nov 03, 2022
4
Insider Trading
Nov 03, 2022
4
Insider Trading
Nov 02, 2022
8-K
Current Report
Oct 03, 2022
4
Insider Trading

Latest Insider Trading transactions for FTNT

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2022-11-18
Jensen Keith
SOLD
-11,120
55.6
-200
CFO & Chief Accounting Officer
2022-11-17
Jensen Keith
SOLD
-2,673
53.46
-50
CFO & Chief Accounting Officer
2022-11-11
Whittle John
SOLD
-171,875
55
-3,125
VP Corp Dev&Strat Alliance,GC
2022-11-11
Whittle John
ACQUIRED
14,893.8
4.766
3,125
VP Corp Dev&Strat Alliance,GC
2022-11-02
Xie Michael
SOLD
-450,159
54.4525
-8,267
VP, Engineering & CTO
2022-11-01
Xie Ken
SOLD FOR TAXES
-1,104,480
56.42
-19,576
President & CEO
2022-11-01
Xie Michael
SOLD FOR TAXES
-458,864
56.42
-8,133
VP, Engineering & CTO
2022-11-01
Jensen Keith
ACQUIRED
-
-
13,150
CFO & Chief Accounting Officer
2022-11-01
Jensen Keith
SOLD FOR TAXES
-367,915
56.42
-6,521
CFO & Chief Accounting Officer
2022-11-01
Xie Michael
ACQUIRED
-
-
16,400
VP, Engineering & CTO

1–10 of 50

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.

FTNT Income Statement

2022-09-30
Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE:    
Total revenue$ 1,149.5$ 867.2$ 3,134.4$ 2,378.6
COST OF REVENUE:    
Total cost of revenue283.0211.2787.6554.7
GROSS PROFIT:    
Total gross profit866.5656.02,346.81,823.9
OPERATING EXPENSES:    
Research and development134.3107.8383.5311.6
Sales and marketing427.1347.11,230.2978.0
General and administrative40.735.8124.7102.2
Gain on intellectual property matter(1.1)(1.1)(3.4)(3.4)
Total operating expenses601.0489.61,735.01,388.4
OPERATING INCOME265.5166.4611.8435.5
INTEREST INCOME4.61.28.33.5
INTEREST EXPENSE(4.5)(4.6)(13.5)(10.4)
OTHER EXPENSE—NET(0.9)(6.3)(19.3)(7.5)
INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENT264.7156.7587.3421.1
PROVISION FOR (BENEFIT FROM) INCOME TAXES27.3(9.3)21.610.4
LOSS FROM EQUITY METHOD INVESTMENT(6.3)(2.8)(22.9)(2.8)
NET INCOME INCLUDING NON-CONTROLLING INTERESTS231.1163.2542.8407.9
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS, NET OF TAX(0.5)0.1(0.7)0.1
NET INCOME ATTRIBUTABLE TO FORTINET, INC.$ 231.6$ 163.1$ 543.5$ 407.8
Net income per share attributable to Fortinet, Inc. (Note 9):    
Basic (in dollars per share)$ 0.29$ 0.20$ 0.68$ 0.50
Diluted (in dollars per share)$ 0.29$ 0.19$ 0.67$ 0.49
Weighted-average shares used to compute net income per share attributable to Fortinet, Inc.:    
Basic (in shares)786.2817.7795.0816.5
Diluted (in shares)798.6838.6809.8835.4
Product    
REVENUE:    
Total revenue$ 468.7$ 337.1$ 1,240.4$ 876.1
COST OF REVENUE:    
Total cost of revenue185.2134.3501.4341.2
GROSS PROFIT:    
Total gross profit283.5202.8739.0534.9
Service    
REVENUE:    
Total revenue680.8530.11,894.01,502.5
COST OF REVENUE:    
Total cost of revenue97.876.9286.2213.5
GROSS PROFIT:    
Total gross profit$ 583.0$ 453.2$ 1,607.8$ 1,289.0

FTNT Balance Sheet

2022-09-30
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:  
Cash and cash equivalents$ 964.0$ 1,319.1
Short-term investments739.51,194.0
Marketable equity securities26.938.6
Accounts receivable—net963.2807.7
Inventory215.8175.8
Prepaid expenses and other current assets72.865.4
Total current assets2,982.23,600.6
LONG-TERM INVESTMENTS84.0440.8
PROPERTY AND EQUIPMENT—NET889.5687.6
DEFERRED CONTRACT COSTS480.5423.3
DEFERRED TAX ASSETS515.5342.3
GOODWILL120.2125.1
OTHER INTANGIBLE ASSETS—NET38.863.6
OTHER ASSETS225.2235.8
TOTAL ASSETS5,335.95,919.1
CURRENT LIABILITIES:  
Accounts payable215.1148.4
Accrued liabilities244.8197.3
Accrued payroll and compensation190.7195.0
Deferred revenue2,129.01,777.4
Total current liabilities2,779.62,318.1
DEFERRED REVENUE2,064.51,675.5
INCOME TAX LIABILITIES67.879.5
LONG-TERM DEBT989.9988.4
OTHER LIABILITIES56.959.2
Total liabilities5,958.75,120.7
COMMITMENTS AND CONTINGENCIES (Note 11)
EQUITY (DEFICIT):  
Common stock, $0.001 par value—1,500.0 shares authorized; 780.1 and 810.0 shares issued and outstanding on September 30, 2022 and December 31, 2021, respectively0.80.8
Additional paid-in capital1,250.21,253.6
Accumulated other comprehensive loss(25.5)(4.8)
Accumulated deficit(1,860.2)(467.9)
Total Fortinet, Inc. stockholders’ equity (deficit)(634.7)781.7
Non-controlling interests11.916.7
Total equity (deficit)(622.8)798.4
TOTAL LIABILITIES AND EQUITY (DEFICIT)$ 5,335.9$ 5,919.1