Fortinet Inc
NASDAQ:FTNT

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Fortinet Inc Logo
Fortinet Inc
NASDAQ:FTNT
Watchlist
Price: 104.74 USD 1.53% Market Closed
Market Cap: 80.1B USD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one FTNT stock under the Base Case scenario is 89.7 USD. Compared to the current market price of 104.74 USD, Fortinet Inc is Overvalued by 14%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

FTNT Relative Value
Base Case
89.7 USD
Overvaluation 14%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

13.1
P/S
P/S
Price to Sales
13.1
vs History
17
vs Industry
8
Median 3Y
10.5
Median 5Y
10.6
Industry
2.4
Forward
11.7
More Details
42.9
P/E
P/E
Price to Earnings
42.9
vs History
74
vs Industry
14
Median 3Y
45.1
Median 5Y
50.7
Industry
22.4
Forward
41.8
More Details
35.2
P/OCF
P/OCF
Price to OCF
35.2
vs History
11
vs Industry
17
Median 3Y
27
Median 5Y
27
Industry
16.7
More Details
39
P/FCFE
P/FCFE
Price to FCFE
39
vs History
9
vs Industry
16
Median 3Y
31.5
Median 5Y
28.6
Industry
21.3
More Details
41
P/B
P/B
Price to Book Value
41
vs History
50
vs Industry
1
Median 3Y
51.8
Median 5Y
41.1
Industry
2.8
More Details
12.4
EV/S
EV/S
Enterprise Value to Sales
12.4
vs History
22
vs Industry
9
Median 3Y
10.1
Median 5Y
10.1
Industry
2.3
Forward
11.1
More Details
15.2
EV/GP
EV/GP
Enterprise Value to Gross Profit
15.2
vs History
30
vs Industry
15
Median 3Y
13.2
Median 5Y
13.2
Industry
4.8
More Details
36.8
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
36.8
vs History
61
vs Industry
13
Median 3Y
37.7
Median 5Y
40.3
Industry
12.4
Forward
32.1
More Details
39.2
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
39.2
vs History
69
vs Industry
13
Median 3Y
40.5
Median 5Y
45.4
Industry
16.1
Forward
34.3
More Details
33.3
EV/OCF
EV/OCF
Enterprise Value to OCF
33.3
vs History
14
vs Industry
17
Median 3Y
25.9
Median 5Y
25.9
Industry
15.1
More Details
36.9
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
36.9
vs History
26
vs Industry
14
Median 3Y
30.7
Median 5Y
30.6
Industry
18.4
More Details
14.1
EV/IC
EV/IC
Enterprise Value to IC
14.1
vs History
23
vs Industry
7
Median 3Y
12.3
Median 5Y
12.6
Industry
2.4
More Details

Multiples Across Competitors

FTNT Competitors Multiples
Fortinet Inc Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
US
Fortinet Inc
NASDAQ:FTNT
80.6B USD 13.1 42.9 36.8 39.2
US
Microsoft Corp
NASDAQ:MSFT
3.4T USD 12.7 35.4 22.6 28
US
Oracle Corp
NYSE:ORCL
453.8B USD 8.1 37.3 22 29.5
US
ServiceNow Inc
NYSE:NOW
212.6B USD 18.5 138.3 99.9 139.9
US
Palo Alto Networks Inc
NASDAQ:PANW
124.8B USD 14.1 100.8 92.1 123.5
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
117.1B USD 29.6 -6 073.9 1 179.2 -963.8
US
VMware Inc
XETRA:BZF1
58B EUR 4.8 46.1 21.3 35.9
US
Xperi Holding Corp
LSE:0M2A
54.6B USD 143.6 723 258.7 369.6
US
Zscaler Inc
NASDAQ:ZS
39.8B USD 16.4 -2 563.6 -41 299.4 -377.9
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
24.8B USD 9.5 29.1 24.2 26.6
IL
Cyberark Software Ltd
NASDAQ:CYBR
18.9B USD 17.3 -216.5 -1 036.3 -208.9
P/E Multiple
Earnings Growth PEG
US
Fortinet Inc
NASDAQ:FTNT
Average P/E: 144.1
42.9
14%
3.1
US
Microsoft Corp
NASDAQ:MSFT
35.4
15%
2.4
US
Oracle Corp
NYSE:ORCL
37.3
30%
1.2
US
ServiceNow Inc
NYSE:NOW
138.3
52%
2.7
US
Palo Alto Networks Inc
NASDAQ:PANW
100.8
4%
25.2
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
Negative Multiple: -6 073.9 N/A N/A
US
V
VMware Inc
XETRA:BZF1
46.1
39%
1.2
US
Xperi Holding Corp
LSE:0M2A
723
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -2 563.6 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
29.1
17%
1.7
IL
Cyberark Software Ltd
NASDAQ:CYBR
Negative Multiple: -216.5 N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
US
Fortinet Inc
NASDAQ:FTNT
Average EV/EBITDA: 195.2
36.8
17%
2.2
US
Microsoft Corp
NASDAQ:MSFT
22.6
17%
1.3
US
Oracle Corp
NYSE:ORCL
22
24%
0.9
US
ServiceNow Inc
NYSE:NOW
99.9
53%
1.9
US
Palo Alto Networks Inc
NASDAQ:PANW
92.1
49%
1.9
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
1 179.2
177%
6.7
US
V
VMware Inc
XETRA:BZF1
21.3
19%
1.1
US
Xperi Holding Corp
LSE:0M2A
258.7
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -41 299.4 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
24.2
12%
2
IL
Cyberark Software Ltd
NASDAQ:CYBR
Negative Multiple: -1 036.3 N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
US
Fortinet Inc
NASDAQ:FTNT
Average EV/EBIT: 99
39.2
18%
2.2
US
Microsoft Corp
NASDAQ:MSFT
28
15%
1.9
US
Oracle Corp
NYSE:ORCL
29.5
28%
1.1
US
ServiceNow Inc
NYSE:NOW
139.9
64%
2.2
US
Palo Alto Networks Inc
NASDAQ:PANW
123.5
60%
2.1
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
Negative Multiple: -963.8 N/A N/A
US
V
VMware Inc
XETRA:BZF1
35.9
30%
1.2
US
Xperi Holding Corp
LSE:0M2A
369.6
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -377.9 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
26.6
14%
1.9
IL
Cyberark Software Ltd
NASDAQ:CYBR
Negative Multiple: -208.9 N/A N/A

See Also

Summary
FTNT intrinsic value, competitors valuation, and company profile.
DCF Valuation
FTNT stock valuation using Discount Cash Flow valuation method.
Relative Valuation
FTNT stock valuation using valuation multiples.
Wall Street Estimates
FTNT price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
FTNT stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
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