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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash-to-Debt No Debt
FTNT's Cash-to-Debt is ranked higher than
86% of the 1984 Companies
in the Global Software - Application industry.

( Industry Median: 6.56 vs. FTNT: No Debt )
Ranked among companies with meaningful Cash-to-Debt only.
FTNT' s Cash-to-Debt Range Over the Past 10 Years
Min: No Debt  Med: No Debt Max: No Debt
Current: No Debt
Equity-to-Asset 0.38
FTNT's Equity-to-Asset is ranked lower than
75% of the 1901 Companies
in the Global Software - Application industry.

( Industry Median: 0.60 vs. FTNT: 0.38 )
Ranked among companies with meaningful Equity-to-Asset only.
FTNT' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.04  Med: 0.45 Max: 0.53
Current: 0.38
-0.04
0.53
Interest Coverage No Debt
FTNT's Interest Coverage is ranked higher than
87% of the 1499 Companies
in the Global Software - Application industry.

( Industry Median: 148.96 vs. FTNT: No Debt )
Ranked among companies with meaningful Interest Coverage only.
FTNT' s Interest Coverage Range Over the Past 10 Years
Min: No Debt  Med: No Debt Max: No Debt
Current: No Debt
Piotroski F-Score: 7
Altman Z-Score: 3.95
Beneish M-Score: -3.29
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating Margin % 7.83
FTNT's Operating Margin % is ranked higher than
55% of the 1924 Companies
in the Global Software - Application industry.

( Industry Median: 4.78 vs. FTNT: 7.83 )
Ranked among companies with meaningful Operating Margin % only.
FTNT' s Operating Margin % Range Over the Past 10 Years
Min: -13.89  Med: 8.88 Max: 20.5
Current: 7.83
-13.89
20.5
Net Margin % 5.93
FTNT's Net Margin % is ranked higher than
56% of the 1925 Companies
in the Global Software - Application industry.

( Industry Median: 3.43 vs. FTNT: 5.93 )
Ranked among companies with meaningful Net Margin % only.
FTNT' s Net Margin % Range Over the Past 10 Years
Min: -14.06  Med: 5.34 Max: 23.87
Current: 5.93
-14.06
23.87
ROE % 9.76
FTNT's ROE % is ranked higher than
53% of the 1866 Companies
in the Global Software - Application industry.

( Industry Median: 6.42 vs. FTNT: 9.76 )
Ranked among companies with meaningful ROE % only.
FTNT' s ROE % Range Over the Past 10 Years
Min: 1.12  Med: 11.73 Max: 87.71
Current: 9.76
1.12
87.71
ROA % 3.83
FTNT's ROA % is ranked higher than
51% of the 1992 Companies
in the Global Software - Application industry.

( Industry Median: 2.97 vs. FTNT: 3.83 )
Ranked among companies with meaningful ROA % only.
FTNT' s ROA % Range Over the Past 10 Years
Min: -15.04  Med: 4.21 Max: 20.53
Current: 3.83
-15.04
20.53
ROC (Joel Greenblatt) % 62.86
FTNT's ROC (Joel Greenblatt) % is ranked higher than
64% of the 1954 Companies
in the Global Software - Application industry.

( Industry Median: 21.87 vs. FTNT: 62.86 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
FTNT' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -733.16  Med: 193.11 Max: 1183.65
Current: 62.86
-733.16
1183.65
3-Year Revenue Growth Rate 25.50
FTNT's 3-Year Revenue Growth Rate is ranked higher than
88% of the 1618 Companies
in the Global Software - Application industry.

( Industry Median: 5.30 vs. FTNT: 25.50 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
FTNT' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 19.8 Max: 25.5
Current: 25.5
0
25.5
3-Year EBITDA Growth Rate -0.20
FTNT's 3-Year EBITDA Growth Rate is ranked lower than
63% of the 1432 Companies
in the Global Software - Application industry.

( Industry Median: 7.30 vs. FTNT: -0.20 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
FTNT' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: -0.2 Max: 50.4
Current: -0.2
0
50.4
3-Year EPS without NRI Growth Rate -11.50
FTNT's 3-Year EPS without NRI Growth Rate is ranked lower than
72% of the 1341 Companies
in the Global Software - Application industry.

( Industry Median: 8.10 vs. FTNT: -11.50 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
FTNT' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 236.2
Current: -11.5
0
236.2
GuruFocus has detected 3 Warning Signs with Fortinet Inc FTNT.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» FTNT's 30-Y Financials

Financials (Next Earnings Date: 2018-02-02)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

FTNT Guru Trades in Q4 2016

Diamond Hill Capital 344,591 sh (New)
Paul Tudor Jones 31,857 sh (New)
Jim Simons 2,618,100 sh (+107.54%)
Paul Singer Sold Out
Joel Greenblatt Sold Out
Ken Fisher 31,175 sh (-0.07%)
Steven Cohen 74,600 sh (-5.33%)
George Soros 126,666 sh (-12.64%)
Mario Gabelli 51,900 sh (-30.43%)
» More
Q1 2017

FTNT Guru Trades in Q1 2017

Joel Greenblatt 30,584 sh (New)
Jim Simons 3,795,400 sh (+44.97%)
Diamond Hill Capital 416,465 sh (+20.86%)
Mario Gabelli 52,000 sh (+0.19%)
Ken Fisher 31,175 sh (unchged)
Steven Cohen Sold Out
George Soros Sold Out
Paul Tudor Jones 20,063 sh (-37.02%)
» More
Q2 2017

FTNT Guru Trades in Q2 2017

Ray Dalio 11,749 sh (New)
Jim Simons 4,521,700 sh (+19.14%)
Ken Fisher 31,427 sh (+0.81%)
Mario Gabelli 52,000 sh (unchged)
Diamond Hill Capital 340,589 sh (-18.22%)
Paul Tudor Jones 13,131 sh (-34.55%)
Joel Greenblatt 9,716 sh (-68.23%)
» More
Q3 2017

FTNT Guru Trades in Q3 2017

Steven Cohen 240,400 sh (New)
Paul Tudor Jones 23,603 sh (+79.75%)
Mario Gabelli 52,000 sh (unchged)
Ray Dalio Sold Out
Joel Greenblatt Sold Out
Jim Simons 4,395,800 sh (-2.78%)
Diamond Hill Capital 326,024 sh (-4.28%)
Ken Fisher 25,975 sh (-17.35%)
» More
» Details

Insider Trades

Latest Guru Trades with FTNT

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ken Fisher 2017-09-30 Reduce -17.35%$35.91 - $41.1 $ 41.329%25,975
Joel Greenblatt 2017-09-30 Sold Out 0.01%$35.91 - $41.1 $ 41.329%0
Ken Fisher 2017-06-30 Add 0.81%$37.2 - $40.97 $ 41.327%31,427
Joel Greenblatt 2017-06-30 Reduce -68.23%0.01%$37.2 - $40.97 $ 41.327%9,716
Mario Gabelli 2017-03-31 Add 0.19%$30.12 - $38.35 $ 41.3217%52,000
Joel Greenblatt 2017-03-31 New Buy0.01%$30.12 - $38.35 $ 41.3217%30,584
George Soros 2017-03-31 Sold Out 0.13%$30.12 - $38.35 $ 41.3217%0
George Soros 2016-12-31 Reduce -12.64%0.03%$28.61 - $36.94 $ 41.3232%126,666
Mario Gabelli 2016-12-31 Reduce -30.43%0.01%$28.61 - $36.94 $ 41.3232%51,900
Ken Fisher 2016-12-31 Reduce -0.07%$28.61 - $36.94 $ 41.3232%31,175
Joel Greenblatt 2016-12-31 Sold Out 0.01%$28.61 - $36.94 $ 41.3232%0
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Business Description

Industry: Application Software » Software - Application    NAICS: 561621    SIC: 7382
Compare:NYSE:TYL, NAS:LOGM, SHSE:603160, NYSE:DATA, TSE:4704, HKSE:01357, NAS:NATI, NAS:PTC, TSE:4684, SHSE:600271, NAS:NICE, SZSE:002065, NAS:BLKB, SHSE:600588, NYSE:PAYC, SHSE:600570, SZSE:300033, SZSE:002405, NAS:AZPN, NAS:AKAM » details
Traded in other countries:FO8.Germany,
Headquarter Location:USA
Fortinet Inc software solutions provider. The company develops and sells a portfolio of security software products which includes firewall, threat detection, WLAN and switching, application security, identity and access management.

Fortinet develops and sells a broad security portfolio of products with an emphasis on enterprise firewall and unified threat management appliances. The company reports revenue in two categories: Product and services. Product contributed to 47% of revenue in fiscal 2015, with services contributing the remaining 53%. The company was founded in 2000, taken public in November 2009, and has been consistently profitable.

Ratios

vs
industry
vs
history
PE Ratio 86.10
FTNT's PE Ratio is ranked lower than
89% of the 1260 Companies
in the Global Software - Application industry.

( Industry Median: 26.92 vs. FTNT: 86.10 )
Ranked among companies with meaningful PE Ratio only.
FTNT' s PE Ratio Range Over the Past 10 Years
Min: 15.2  Med: 75.25 Max: 1231
Current: 86.1
15.2
1231
Forward PE Ratio 34.60
FTNT's Forward PE Ratio is ranked lower than
66% of the 298 Companies
in the Global Software - Application industry.

( Industry Median: 22.88 vs. FTNT: 34.60 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 86.10
FTNT's PE Ratio without NRI is ranked lower than
90% of the 1254 Companies
in the Global Software - Application industry.

( Industry Median: 27.17 vs. FTNT: 86.10 )
Ranked among companies with meaningful PE Ratio without NRI only.
FTNT' s PE Ratio without NRI Range Over the Past 10 Years
Min: 15.2  Med: 75.25 Max: 1231
Current: 86.1
15.2
1231
Price-to-Owner-Earnings 21.14
FTNT's Price-to-Owner-Earnings is ranked higher than
53% of the 744 Companies
in the Global Software - Application industry.

( Industry Median: 25.49 vs. FTNT: 21.14 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
FTNT' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 18.37  Med: 34.92 Max: 64.3
Current: 21.14
18.37
64.3
PB Ratio 7.97
FTNT's PB Ratio is ranked lower than
77% of the 1848 Companies
in the Global Software - Application industry.

( Industry Median: 3.13 vs. FTNT: 7.97 )
Ranked among companies with meaningful PB Ratio only.
FTNT' s PB Ratio Range Over the Past 10 Years
Min: 4.66  Med: 7.48 Max: 14.92
Current: 7.97
4.66
14.92
PS Ratio 5.11
FTNT's PS Ratio is ranked lower than
69% of the 1840 Companies
in the Global Software - Application industry.

( Industry Median: 2.37 vs. FTNT: 5.11 )
Ranked among companies with meaningful PS Ratio only.
FTNT' s PS Ratio Range Over the Past 10 Years
Min: 2.8  Med: 6.03 Max: 12.13
Current: 5.11
2.8
12.13
Price-to-Free-Cash-Flow 18.44
FTNT's Price-to-Free-Cash-Flow is ranked higher than
65% of the 681 Companies
in the Global Software - Application industry.

( Industry Median: 26.25 vs. FTNT: 18.44 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
FTNT' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 12.11  Med: 24.57 Max: 39.24
Current: 18.44
12.11
39.24
Price-to-Operating-Cash-Flow 13.70
FTNT's Price-to-Operating-Cash-Flow is ranked higher than
63% of the 850 Companies
in the Global Software - Application industry.

( Industry Median: 18.64 vs. FTNT: 13.70 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
FTNT' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 10.81  Med: 21.43 Max: 34.53
Current: 13.7
10.81
34.53
EV-to-EBIT 52.41
FTNT's EV-to-EBIT is ranked lower than
84% of the 1275 Companies
in the Global Software - Application industry.

( Industry Median: 19.16 vs. FTNT: 52.41 )
Ranked among companies with meaningful EV-to-EBIT only.
FTNT' s EV-to-EBIT Range Over the Past 10 Years
Min: 25.2  Med: 47.4 Max: 1571
Current: 52.41
25.2
1571
EV-to-EBITDA 35.26
FTNT's EV-to-EBITDA is ranked lower than
78% of the 1386 Companies
in the Global Software - Application industry.

( Industry Median: 15.27 vs. FTNT: 35.26 )
Ranked among companies with meaningful EV-to-EBITDA only.
FTNT' s EV-to-EBITDA Range Over the Past 10 Years
Min: 22.3  Med: 40.25 Max: 143.4
Current: 35.26
22.3
143.4
EV-to-Revenue 4.10
FTNT's EV-to-Revenue is ranked lower than
62% of the 1894 Companies
in the Global Software - Application industry.

( Industry Median: 2.40 vs. FTNT: 4.10 )
Ranked among companies with meaningful EV-to-Revenue only.
FTNT' s EV-to-Revenue Range Over the Past 10 Years
Min: 3.2  Med: 5.2 Max: 11.4
Current: 4.1
3.2
11.4
Current Ratio 1.81
FTNT's Current Ratio is ranked lower than
52% of the 1846 Companies
in the Global Software - Application industry.

( Industry Median: 1.89 vs. FTNT: 1.81 )
Ranked among companies with meaningful Current Ratio only.
FTNT' s Current Ratio Range Over the Past 10 Years
Min: 1.11  Med: 1.87 Max: 2.14
Current: 1.81
1.11
2.14
Quick Ratio 1.73
FTNT's Quick Ratio is ranked lower than
52% of the 1846 Companies
in the Global Software - Application industry.

( Industry Median: 1.75 vs. FTNT: 1.73 )
Ranked among companies with meaningful Quick Ratio only.
FTNT' s Quick Ratio Range Over the Past 10 Years
Min: 0.99  Med: 1.77 Max: 2
Current: 1.73
0.99
2
Days Inventory 91.68
FTNT's Days Inventory is ranked lower than
85% of the 1139 Companies
in the Global Software - Application industry.

( Industry Median: 17.56 vs. FTNT: 91.68 )
Ranked among companies with meaningful Days Inventory only.
FTNT' s Days Inventory Range Over the Past 10 Years
Min: 46.19  Med: 70.68 Max: 103.05
Current: 91.68
46.19
103.05
Days Sales Outstanding 65.35
FTNT's Days Sales Outstanding is ranked lower than
55% of the 1588 Companies
in the Global Software - Application industry.

( Industry Median: 66.91 vs. FTNT: 65.35 )
Ranked among companies with meaningful Days Sales Outstanding only.
FTNT' s Days Sales Outstanding Range Over the Past 10 Years
Min: 64.55  Med: 79.88 Max: 93.87
Current: 65.35
64.55
93.87
Days Payable 43.85
FTNT's Days Payable is ranked higher than
50% of the 1405 Companies
in the Global Software - Application industry.

( Industry Median: 42.91 vs. FTNT: 43.85 )
Ranked among companies with meaningful Days Payable only.
FTNT' s Days Payable Range Over the Past 10 Years
Min: 39.05  Med: 59.3 Max: 78.92
Current: 43.85
39.05
78.92

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -2.30
FTNT's 3-Year Average Share Buyback Ratio is ranked higher than
54% of the 1345 Companies
in the Global Software - Application industry.

( Industry Median: -3.00 vs. FTNT: -2.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
FTNT' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -42.7  Med: -2.4 Max: 0
Current: -2.3
-42.7
0

Valuation & Return

vs
industry
vs
history
Price-to-Net-Current-Asset-Value 45.91
FTNT's Price-to-Net-Current-Asset-Value is ranked lower than
91% of the 1147 Companies
in the Global Software - Application industry.

( Industry Median: 7.83 vs. FTNT: 45.91 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
FTNT' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 12.04  Med: 22.61 Max: 48.24
Current: 45.91
12.04
48.24
Price-to-Tangible-Book 8.30
FTNT's Price-to-Tangible-Book is ranked lower than
64% of the 1546 Companies
in the Global Software - Application industry.

( Industry Median: 4.70 vs. FTNT: 8.30 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
FTNT' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 5.09  Med: 7.71 Max: 14.52
Current: 8.3
5.09
14.52
Price-to-Intrinsic-Value-Projected-FCF 1.85
FTNT's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
61% of the 811 Companies
in the Global Software - Application industry.

( Industry Median: 2.20 vs. FTNT: 1.85 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
FTNT' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 1.61  Med: 2.1 Max: 2.69
Current: 1.85
1.61
2.69
Price-to-Median-PS-Value 0.85
FTNT's Price-to-Median-PS-Value is ranked higher than
78% of the 1639 Companies
in the Global Software - Application industry.

( Industry Median: 1.12 vs. FTNT: 0.85 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
FTNT' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.52  Med: 1 Max: 1.96
Current: 0.85
0.52
1.96
Price-to-Graham-Number 5.64
FTNT's Price-to-Graham-Number is ranked lower than
81% of the 920 Companies
in the Global Software - Application industry.

( Industry Median: 9999.00 vs. FTNT: 5.64 )
Ranked among companies with meaningful Price-to-Graham-Number only.
FTNT' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.19  Med: 5.46 Max: 21.22
Current: 5.64
2.19
21.22
Earnings Yield (Greenblatt) % 1.90
FTNT's Earnings Yield (Greenblatt) % is ranked lower than
54% of the 1997 Companies
in the Global Software - Application industry.

( Industry Median: 2.11 vs. FTNT: 1.90 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
FTNT' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 0.1  Med: 2.1 Max: 4
Current: 1.9
0.1
4
Forward Rate of Return (Yacktman) % -1.92
FTNT's Forward Rate of Return (Yacktman) % is ranked lower than
84% of the 818 Companies
in the Global Software - Application industry.

( Industry Median: 11.39 vs. FTNT: -1.92 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
FTNT' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -14.3  Med: 0.05 Max: 31.5
Current: -1.92
-14.3
31.5

More Statistics

Revenue (TTM) (Mil) $1,441.09
EPS (TTM) $ 0.48
Beta0.80
Short Percentage of Float2.72%
52-Week Range $28.51 - 41.56
Shares Outstanding (Mil)173.90

Analyst Estimate

Dec17 Dec18 Dec19 Dec20
Revenue (Mil $) 1,489 1,705 1,926 2,121
EPS ($) 1.00 1.17 1.38 1.49
EPS without NRI ($) 1.00 1.17 1.38 1.49
EPS Growth Rate
(Future 3Y To 5Y Estimate)
21.38%
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 77
Positive ROAY
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyY
Higher Asset Turnover yoyY

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