1FTNT Stock Financial Analysis - Fortinet, Inc. (BIT) Stock

Overview

Fortinet, Inc., headquartered in Sunnyvale, California, USA, operates primarily in the cybersecurity industry. It specializes in producing and marketing software, services, and appliances that protect networks, devices, and data from cyber threats. Notably, the company provides the Fortinet Security Fabric, an integrated architecture designed to deliver network security, segmentation, and endpoint security. Fortinet's solutions cater to a diverse clientele, ranging from small businesses to large enterprises and government organizations. Its key projects often involve deploying significant security-driven networking capabilities powered by its proprietary security processors, aimed at enhancing performance and security efficacy across its customers' digital infrastructures.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Fortinet, Inc. as of June 30, 2025 is 6,337.90 MM.
The operating income for Fortinet, Inc. as of June 30, 2025 is 1,946.90 MM.
The net income for Fortinet, Inc. as of June 30, 2025 is 1,939.60 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	6,337.90	1,946.90	1,939.60
2025-03-31	6,142.20	1,926.20	1,879.30
2024-12-31	5,955.80	1,798.80	1,745.20
2024-09-30	5,710.80	1,610.10	1,529.90
2024-06-30	5,537.30	1,442.40	1,312.90
2024-03-31	5,395.80	1,284.30	1,199.40
2023-12-31	5,304.80	1,236.50	1,147.80
2023-09-30	5,172.70	1,208.90	1,150.70
2023-06-30	4,987.60	1,171.20	1,059.40
2023-03-31	4,724.90	1,087.40	966.60
2022-12-31	4,417.40	965.00	857.30
2022-09-30	4,098.00	822.10	742.50
2022-06-30	3,815.70	723.00	674.00
2022-03-31	3,586.70	675.20	638.00
2021-12-31	3,342.20	645.80	606.80
2021-09-30	3,126.60	600.30	554.50
2021-06-30	2,910.50	560.80	514.80
2021-03-31	2,727.00	532.20	491.10
2020-12-31	2,594.40	491.60	488.50
2020-09-30	2,464.50	445.50	460.00

Income Statement: EPS

The earnings per share basic for Fortinet, Inc. as of June 30, 2025 is 2.53.
The earnings per share diluted for Fortinet, Inc. as of June 30, 2025 is 2.51.

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30	2.53	2.51
2025-03-31	2.45	2.43
2024-12-31	2.28	2.26
2024-09-30	2.00	1.99
2024-06-30	1.71	1.69
2024-03-31	1.55	1.54
2023-12-31	1.47	1.46
2023-09-30	1.47	1.44
2023-06-30	1.35	1.33
2023-03-31	1.23	1.20
2022-12-31	1.08	1.06
2022-09-30	0.93	0.91
2022-06-30	0.83	0.82
2022-03-31	0.78	0.77
2021-12-31	0.74	0.73
2021-09-30	0.68	0.67
2021-06-30	0.63	0.61
2021-03-31	0.61	0.59
2020-12-31	0.60	0.58
2020-09-30	0.55	0.54

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Fortinet, Inc. as of June 30, 2025 is 2,400.90 MM.
The cash from investing activities for Fortinet, Inc. as of June 30, 2025 is -784.00 MM.
The cash from financing activities for Fortinet, Inc. as of June 30, 2025 is -452.70 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	2,400.90	-784.00	-452.70
2025-03-31	2,291.00	-567.90	-52.50
2024-12-31	2,258.10	-727.40	-50.10
2024-09-30	1,972.20	-719.10	-951.40
2024-06-30	1,915.30	-503.20	-1,583.30
2024-03-31	2,088.40	-877.20	-1,587.00
2023-12-31	1,935.50	-649.30	-1,570.40
2023-09-30	2,271.90	-360.30	-687.70
2023-06-30	2,203.70	48.70	-585.40
2023-03-31	2,012.00	766.90	-1,398.00
2022-12-31	1,730.60	763.90	-2,130.30
2022-09-30	1,569.30	280.60	-2,736.50
2022-06-30	1,485.10	-324.70	-2,328.60
2022-03-31	1,579.90	-897.00	-1,619.20
2021-12-31	1,499.70	-1,325.10	82.80
2021-09-30	1,429.40	-1,124.20	664.40
2021-06-30	1,251.40	-1,041.30	752.80
2021-03-31	1,080.20	-550.90	704.80
2020-12-31	1,083.70	-72.80	-1,171.60
2020-09-30	977.60	-107.40	-1,163.40

Valuation Metrics : PE, PriceToBook, PriceToTBV

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30

Management Effectiveness

The roa for Fortinet, Inc. as of June 30, 2025 is 0.23.
The roe for Fortinet, Inc. as of June 30, 2025 is 6.52.
The roic for Fortinet, Inc. as of June 30, 2025 is 0.61.
The croic for Fortinet, Inc. as of June 30, 2025 is 0.54.
The ocroic for Fortinet, Inc. as of June 30, 2025 is 0.75.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	0.23	6.52	0.61	0.54	0.75
2025-03-31	0.25		0.61	0.54	0.75
2024-12-31	0.20	20.65	0.77	0.15	0.99
2024-09-30	0.20	20.65	0.77	0.15	0.99
2024-06-30	0.18	105.21	1.23	-0.39	2.13
2024-03-31	0.18		1.84	-0.46	3.10
2023-12-31	0.22		1.02	1.08	2.01
2023-09-30	0.20		0.76	1.20	1.59
2023-06-30	0.20		0.75	1.17	1.55
2023-03-31	0.17	4.14	0.87	1.24	1.80
2022-12-31	0.12	0.65	2.02	-2.42	4.27
2022-09-30	0.12	0.65	2.02	-2.42	4.27
2022-06-30	0.12	0.64	1.00	-1.73	2.19
2022-03-31	0.12	0.65	0.49	-0.72	1.21
2021-12-31	0.15	0.71	0.32	0.14	0.80
2021-09-30	0.15	0.78	0.25	0.44	0.65
2021-06-30	0.15	0.95	0.25	0.46	0.60
2021-03-31	0.15	0.92	0.24	0.61	0.53
2020-12-31	0.13	0.37	0.54	-0.18	1.19
2020-09-30	0.13	0.38	0.60	-0.39	1.28

Gross Margins

The gross margin for Fortinet, Inc. as of June 30, 2025 is 0.81.
The net margin for Fortinet, Inc. as of June 30, 2025 is 0.31.
The operating margin for Fortinet, Inc. as of June 30, 2025 is 0.31.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.81	0.31	0.31
2025-03-31	0.81	0.31	0.31
2024-12-31	0.80	0.27	0.28
2024-09-30	0.80	0.27	0.28
2024-06-30	0.77	0.22	0.24
2024-03-31	0.77	0.22	0.23
2023-12-31	0.76	0.22	0.23
2023-09-30	0.76	0.21	0.23
2023-06-30	0.76	0.21	0.23
2023-03-31	0.76	0.20	0.23
2022-12-31	0.75	0.18	0.20
2022-09-30	0.75	0.18	0.20
2022-06-30	0.75	0.18	0.19
2022-03-31	0.75	0.18	0.19
2021-12-31	0.77	0.18	0.19
2021-09-30	0.77	0.18	0.19
2021-06-30	0.78	0.18	0.19
2021-03-31	0.78	0.18	0.20
2020-12-31	0.78	0.19	0.19
2020-09-30	0.78	0.19	0.18

MX:FTNT
GB:0IR9	$77.99
DE:FO8	€67.10
US:FTNT	$78.83
KZ:FTNT_KZ