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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 1995 Companies
in the Global Software - Application industry.

( Industry Median: 4.27 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 0.30
FTNT's Equity-to-Asset is ranked lower than
84% of the 1912 Companies
in the Global Software - Application industry.

( Industry Median: 0.60 vs. FTNT: 0.30 )
Ranked among companies with meaningful Equity-to-Asset only.
FTNT' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.04  Med: 0.43 Max: 0.53
Current: 0.3
-0.04
0.53
Interest Coverage No Debt
FTNT's Interest Coverage is ranked higher than
88% of the 1497 Companies
in the Global Software - Application industry.

( Industry Median: 138.02 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: 5.72
Beneish M-Score: -3.34
WACC vs ROIC
5.74%
-15.91%
WACC
ROIC
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 % 9.75
FTNT's Operating Margin % is ranked higher than
66% of the 1940 Companies
in the Global Software - Application industry.

( Industry Median: 5.13 vs. FTNT: 9.75 )
Ranked among companies with meaningful Operating Margin % only.
FTNT' s Operating Margin % Range Over the Past 10 Years
Min: 2.23  Med: 8.88 Max: 20.5
Current: 9.75
2.23
20.5
Net Margin % 5.43
FTNT's Net Margin % is ranked higher than
58% of the 1940 Companies
in the Global Software - Application industry.

( Industry Median: 3.84 vs. FTNT: 5.43 )
Ranked among companies with meaningful Net Margin % only.
FTNT' s Net Margin % Range Over the Past 10 Years
Min: 0.79  Med: 5.34 Max: 23.87
Current: 5.43
0.79
23.87
ROE % 11.39
FTNT's ROE % is ranked higher than
63% of the 1869 Companies
in the Global Software - Application industry.

( Industry Median: 6.75 vs. FTNT: 11.39 )
Ranked among companies with meaningful ROE % only.
FTNT' s ROE % Range Over the Past 10 Years
Min: 1.12  Med: 8.07 Max: 87.71
Current: 11.39
1.12
87.71
ROA % 3.69
FTNT's ROA % is ranked higher than
52% of the 2005 Companies
in the Global Software - Application industry.

( Industry Median: 3.19 vs. FTNT: 3.69 )
Ranked among companies with meaningful ROA % only.
FTNT' s ROA % Range Over the Past 10 Years
Min: 0.5  Med: 4.21 Max: 20.53
Current: 3.69
0.5
20.53
ROC (Joel Greenblatt) % 64.90
FTNT's ROC (Joel Greenblatt) % is ranked higher than
67% of the 1965 Companies
in the Global Software - Application industry.

( Industry Median: 23.66 vs. FTNT: 64.90 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
FTNT' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 29.97  Med: 193.11 Max: 1183.65
Current: 64.9
29.97
1183.65
3-Year Revenue Growth Rate 22.60
FTNT's 3-Year Revenue Growth Rate is ranked higher than
83% of the 1650 Companies
in the Global Software - Application industry.

( Industry Median: 6.00 vs. FTNT: 22.60 )
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: -12.7  Med: 20.3 Max: 25.5
Current: 22.6
-12.7
25.5
3-Year EBITDA Growth Rate 24.60
FTNT's 3-Year EBITDA Growth Rate is ranked higher than
74% of the 1466 Companies
in the Global Software - Application industry.

( Industry Median: 8.90 vs. FTNT: 24.60 )
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: 5.7 Max: 50.4
Current: 24.6
0
50.4
3-Year EPS without NRI Growth Rate 6.30
FTNT's 3-Year EPS without NRI Growth Rate is ranked lower than
56% of the 1339 Companies
in the Global Software - Application industry.

( Industry Median: 10.60 vs. FTNT: 6.30 )
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: 6.3
0
236.2
GuruFocus has detected 1 Warning Sign 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: 2018-10-26 Est.)


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

» Details

Guru Trades

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
Q4 2017

FTNT Guru Trades in Q4 2017

Pioneer Investments 22,324 sh (New)
George Soros 20,500 sh (New)
Joel Greenblatt 15,523 sh (New)
Paul Tudor Jones 39,167 sh (+65.94%)
Ken Fisher 26,180 sh (+0.79%)
Jim Simons 4,418,500 sh (+0.52%)
Steven Cohen Sold Out
Mario Gabelli 51,700 sh (-0.58%)
Diamond Hill Capital 312,019 sh (-4.30%)
» More
Q1 2018

FTNT Guru Trades in Q1 2018

Caxton Associates 15,144 sh (New)
Ray Dalio 32,257 sh (New)
Jim Simons 4,800,900 sh (+8.65%)
Pioneer Investments 23,937 sh (+7.23%)
Diamond Hill Capital Sold Out
Ken Fisher Sold Out
Paul Tudor Jones Sold Out
George Soros Sold Out
Joel Greenblatt Sold Out
Mario Gabelli 44,700 sh (-13.54%)
» More
Q2 2018

FTNT Guru Trades in Q2 2018

Steven Cohen 44,200 sh (New)
Joel Greenblatt 175,909 sh (New)
Paul Tudor Jones 4,286 sh (New)
Pioneer Investments 60,475 sh (+152.64%)
Mario Gabelli 44,400 sh (-0.67%)
Caxton Associates 14,633 sh (-3.37%)
Jim Simons 4,278,800 sh (-10.88%)
Ray Dalio 12,871 sh (-60.10%)
» 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
Joel Greenblatt 2018-06-30 New Buy0.16%$52.43 - $66.17 $ 81.6638%175,909
Mario Gabelli 2018-06-30 Reduce -0.67%$52.43 - $66.17 $ 81.6638%44,400
Mario Gabelli 2018-03-31 Reduce -13.54%$43.83 - $54.68 $ 81.6668%44,700
Joel Greenblatt 2018-03-31 Sold Out 0.01%$43.83 - $54.68 $ 81.6668%0
George Soros 2018-03-31 Sold Out 0.02%$43.83 - $54.68 $ 81.6668%0
Ken Fisher 2018-03-31 Sold Out $43.83 - $54.68 $ 81.6668%0
Mario Gabelli 2017-12-31 Reduce -0.58%$36.35 - $45.09 $ 81.66101%51,700
Ken Fisher 2017-12-31 Add 0.79%$36.35 - $45.09 $ 81.66101%26,180
George Soros 2017-12-31 New Buy0.02%$36.35 - $45.09 $ 81.66101%20,500
Joel Greenblatt 2017-12-31 New Buy0.01%$36.35 - $45.09 $ 81.66101%15,523
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Business Description

Industry: Application Software » Software - Application    NAICS: 561621    SIC: 7382
Compare:TSX:OTEX, NAS:PTC, LSE:SGE, NYSE:LN, NAS:CDK, SHSE:600588, NYSE:TYL, TSE:4704, TSE:4716, LSE:MCRO, SHSE:603160, TSE:4684, ASX:UPD, NAS:CDNS, SHSE:600271, NYSE:DATA, SZSE:002230, NYSE:PAYC, 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 160.12
FTNT's PE Ratio is ranked lower than
94% of the 1281 Companies
in the Global Software - Application industry.

( Industry Median: 27.75 vs. FTNT: 160.12 )
Ranked among companies with meaningful PE Ratio only.
FTNT' s PE Ratio Range Over the Past 10 Years
Min: 15.2  Med: 84.84 Max: 1231
Current: 160.12
15.2
1231
Forward PE Ratio 41.67
FTNT's Forward PE Ratio is ranked lower than
74% of the 343 Companies
in the Global Software - Application industry.

( Industry Median: 25.00 vs. FTNT: 41.67 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 160.12
FTNT's PE Ratio without NRI is ranked lower than
94% of the 1278 Companies
in the Global Software - Application industry.

( Industry Median: 27.79 vs. FTNT: 160.12 )
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: 84.84 Max: 1231
Current: 160.12
15.2
1231
Price-to-Owner-Earnings 39.80
FTNT's Price-to-Owner-Earnings is ranked lower than
60% of the 760 Companies
in the Global Software - Application industry.

( Industry Median: 28.11 vs. FTNT: 39.80 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
FTNT' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 18.36  Med: 34.05 Max: 64.3
Current: 39.8
18.36
64.3
PB Ratio 17.69
FTNT's PB Ratio is ranked lower than
92% of the 1858 Companies
in the Global Software - Application industry.

( Industry Median: 3.12 vs. FTNT: 17.69 )
Ranked among companies with meaningful PB Ratio only.
FTNT' s PB Ratio Range Over the Past 10 Years
Min: 4.66  Med: 7.65 Max: 19.98
Current: 17.69
4.66
19.98
PS Ratio 8.75
FTNT's PS Ratio is ranked lower than
82% of the 1840 Companies
in the Global Software - Application industry.

( Industry Median: 2.60 vs. FTNT: 8.75 )
Ranked among companies with meaningful PS Ratio only.
FTNT' s PS Ratio Range Over the Past 10 Years
Min: 2.8  Med: 6.08 Max: 12.13
Current: 8.75
2.8
12.13
Price-to-Free-Cash-Flow 26.30
FTNT's Price-to-Free-Cash-Flow is ranked higher than
60% of the 750 Companies
in the Global Software - Application industry.

( Industry Median: 30.05 vs. FTNT: 26.30 )
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: 24.16 Max: 39.24
Current: 26.3
12.11
39.24
Price-to-Operating-Cash-Flow 23.75
FTNT's Price-to-Operating-Cash-Flow is ranked lower than
51% of the 923 Companies
in the Global Software - Application industry.

( Industry Median: 21.70 vs. FTNT: 23.75 )
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: 21.04 Max: 34.53
Current: 23.75
10.81
34.53
EV-to-EBIT 77.85
FTNT's EV-to-EBIT is ranked lower than
85% of the 1311 Companies
in the Global Software - Application industry.

( Industry Median: 19.89 vs. FTNT: 77.85 )
Ranked among companies with meaningful EV-to-EBIT only.
FTNT' s EV-to-EBIT Range Over the Past 10 Years
Min: 25.2  Med: 51.6 Max: 439.1
Current: 77.85
25.2
439.1
EV-to-EBITDA 57.90
FTNT's EV-to-EBITDA is ranked lower than
84% of the 1413 Companies
in the Global Software - Application industry.

( Industry Median: 15.96 vs. FTNT: 57.90 )
Ranked among companies with meaningful EV-to-EBITDA only.
FTNT' s EV-to-EBITDA Range Over the Past 10 Years
Min: 22.3  Med: 40.95 Max: 128.2
Current: 57.9
22.3
128.2
EV-to-Revenue 7.59
FTNT's EV-to-Revenue is ranked lower than
75% of the 1910 Companies
in the Global Software - Application industry.

( Industry Median: 2.65 vs. FTNT: 7.59 )
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: 7.59
3.2
11.4
PEG Ratio 43.27
FTNT's PEG Ratio is ranked lower than
98% of the 599 Companies
in the Global Software - Application industry.

( Industry Median: 2.07 vs. FTNT: 43.27 )
Ranked among companies with meaningful PEG Ratio only.
FTNT' s PEG Ratio Range Over the Past 10 Years
Min: 2.52  Med: 12.5 Max: 256.54
Current: 43.27
2.52
256.54
Shiller PE Ratio 268.76
FTNT's Shiller PE Ratio is ranked lower than
97% of the 434 Companies
in the Global Software - Application industry.

( Industry Median: 37.98 vs. FTNT: 268.76 )
Ranked among companies with meaningful Shiller PE Ratio only.
FTNT' s Shiller PE Ratio Range Over the Past 10 Years
Min: 206.67  Med: 250.97 Max: 307.57
Current: 268.76
206.67
307.57
Current Ratio 1.74
FTNT's Current Ratio is ranked lower than
56% of the 1957 Companies
in the Global Software - Application industry.

( Industry Median: 1.93 vs. FTNT: 1.74 )
Ranked among companies with meaningful Current Ratio only.
FTNT' s Current Ratio Range Over the Past 10 Years
Min: 1.11  Med: 1.86 Max: 2.14
Current: 1.74
1.11
2.14
Quick Ratio 1.66
FTNT's Quick Ratio is ranked lower than
54% of the 1957 Companies
in the Global Software - Application industry.

( Industry Median: 1.79 vs. FTNT: 1.66 )
Ranked among companies with meaningful Quick Ratio only.
FTNT' s Quick Ratio Range Over the Past 10 Years
Min: 0.99  Med: 1.76 Max: 2
Current: 1.66
0.99
2
Days Inventory 70.53
FTNT's Days Inventory is ranked lower than
80% of the 1137 Companies
in the Global Software - Application industry.

( Industry Median: 16.22 vs. FTNT: 70.53 )
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: 70.53
46.19
103.05
Days Sales Outstanding 74.65
FTNT's Days Sales Outstanding is ranked lower than
56% of the 1879 Companies
in the Global Software - Application industry.

( Industry Median: 68.11 vs. FTNT: 74.65 )
Ranked among companies with meaningful Days Sales Outstanding only.
FTNT' s Days Sales Outstanding Range Over the Past 10 Years
Min: 73.63  Med: 80.86 Max: 93.87
Current: 74.65
73.63
93.87
Days Payable 56.80
FTNT's Days Payable is ranked higher than
57% of the 1720 Companies
in the Global Software - Application industry.

( Industry Median: 45.50 vs. FTNT: 56.80 )
Ranked among companies with meaningful Days Payable only.
FTNT' s Days Payable Range Over the Past 10 Years
Min: 39.05  Med: 62.41 Max: 78.92
Current: 56.8
39.05
78.92

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -0.30
FTNT's 3-Year Average Share Buyback Ratio is ranked higher than
75% of the 1387 Companies
in the Global Software - Application industry.

( Industry Median: -3.30 vs. FTNT: -0.30 )
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: -2.6 Max: -0.3
Current: -0.3
-42.7
-0.3

Valuation & Return

vs
industry
vs
history
Price-to-Net-Current-Asset-Value 154.07
FTNT's Price-to-Net-Current-Asset-Value is ranked lower than
98% of the 1240 Companies
in the Global Software - Application industry.

( Industry Median: 6.50 vs. FTNT: 154.07 )
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: 22.96 Max: 315.18
Current: 154.07
12.04
315.18
Price-to-Tangible-Book 18.81
FTNT's Price-to-Tangible-Book is ranked lower than
85% of the 1555 Companies
in the Global Software - Application industry.

( Industry Median: 4.26 vs. FTNT: 18.81 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
FTNT' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 5.1  Med: 7.83 Max: 18.81
Current: 18.81
5.1
18.81
Price-to-Intrinsic-Value-Projected-FCF 3.07
FTNT's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
64% of the 840 Companies
in the Global Software - Application industry.

( Industry Median: 2.11 vs. FTNT: 3.07 )
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: 1.58  Med: 1.92 Max: 3.07
Current: 3.07
1.58
3.07
Price-to-Median-PS-Value 1.44
FTNT's Price-to-Median-PS-Value is ranked lower than
63% of the 1656 Companies
in the Global Software - Application industry.

( Industry Median: 1.09 vs. FTNT: 1.44 )
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: 1.94
Current: 1.44
0.52
1.94
Price-to-Peter-Lynch-Fair-Value 11.94
FTNT's Price-to-Peter-Lynch-Fair-Value is ranked lower than
97% of the 402 Companies
in the Global Software - Application industry.

( Industry Median: 1.80 vs. FTNT: 11.94 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
FTNT' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 2.94  Med: 9.05 Max: 34.26
Current: 11.94
2.94
34.26
Price-to-Graham-Number 11.56
FTNT's Price-to-Graham-Number is ranked lower than
95% of the 974 Companies
in the Global Software - Application industry.

( Industry Median: 2.25 vs. FTNT: 11.56 )
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: 5.78 Max: 21.22
Current: 11.56
2.19
21.22
Earnings Yield (Greenblatt) % 1.28
FTNT's Earnings Yield (Greenblatt) % is ranked lower than
56% of the 2008 Companies
in the Global Software - Application industry.

( Industry Median: 2.11 vs. FTNT: 1.28 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
FTNT' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 0.2  Med: 1.9 Max: 4
Current: 1.28
0.2
4
Forward Rate of Return (Yacktman) % 15.43
FTNT's Forward Rate of Return (Yacktman) % is ranked higher than
65% of the 833 Companies
in the Global Software - Application industry.

( Industry Median: 9.82 vs. FTNT: 15.43 )
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: -11.9  Med: 4.3 Max: 24.5
Current: 15.43
-11.9
24.5

More Statistics

Revenue (TTM) (Mil) $1,631.19
EPS (TTM) $ 0.51
Beta0.43
Volatility29.27%
52-Week Range $37.15 - 94.37
Shares Outstanding (Mil)169.14

Analyst Estimate

Dec18 Dec19 Dec20 Dec21
Revenue (Mil $) 1,783 2,037 2,286 2,418
EBIT (Mil $) 332 419 551
EBITDA (Mil $) 424 515 619 686
EPS ($) 1.31 1.55 1.45 2.60
EPS without NRI ($) 1.31 1.55 1.45 2.60
EPS Growth Rate
(Future 3Y To 5Y Estimate)
22.91%
Dividends per Share ($)

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 yoyY
Higher Gross Margin yoyY
Higher Asset Turnover yoyN

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