Fortinet Inc
NASDAQ:FTNT

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Fortinet Inc
NASDAQ:FTNT
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Price: 97.29 USD -0.53% Market Closed
Market Cap: 74.6B USD
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Relative Value

The Relative Value of one FTNT stock under the Base Case scenario is 80.58 USD. Compared to the current market price of 97.29 USD, Fortinet Inc is Overvalued by 17%.

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
80.58 USD
Overvaluation 17%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

13
P/S
P/S
Price to Sales
13
vs History
15
vs Industry
14
Median 3Y
10.5
Median 5Y
10.2
Industry
2.4
Forward
12.3
More Details
48.5
P/E
P/E
Price to Earnings
48.5
vs History
58
vs Industry
17
Median 3Y
51
Median 5Y
52.8
Industry
23.2
Forward
42.3
More Details
37.6
P/OCF
P/OCF
Price to OCF
37.6
vs History
3
vs Industry
26
Median 3Y
27
Median 5Y
25.9
Industry
17.4
More Details
44.6
P/FCFE
P/FCFE
Price to FCFE
44.6
vs History
1
vs Industry
24
Median 3Y
29.5
Median 5Y
26.6
Industry
21.3
More Details
81.7
P/B
P/B
Price to Book Value
81.7
vs History
23
vs Industry
0
Median 3Y
66.2
Median 5Y
37.7
Industry
2.9
More Details
12.5
EV/S
EV/S
Enterprise Value to Sales
12.5
vs History
19
vs Industry
14
Median 3Y
10.1
Median 5Y
9.8
Industry
2.4
Forward
11.9
More Details
15.7
EV/GP
EV/GP
Enterprise Value to Gross Profit
15.7
vs History
20
vs Industry
21
Median 3Y
13.2
Median 5Y
12.7
Industry
4.9
More Details
41.4
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
41.4
vs History
49
vs Industry
14
Median 3Y
40.7
Median 5Y
41.4
Industry
12.9
Forward
33.9
More Details
44.4
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
44.4
vs History
57
vs Industry
15
Median 3Y
44.4
Median 5Y
46.2
Industry
16.5
Forward
35.6
More Details
36.3
EV/OCF
EV/OCF
Enterprise Value to OCF
36.3
vs History
3
vs Industry
26
Median 3Y
25.9
Median 5Y
25
Industry
16.3
More Details
43
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
43
vs History
6
vs Industry
22
Median 3Y
30.7
Median 5Y
28.6
Industry
19
More Details
14.4
EV/IC
EV/IC
Enterprise Value to IC
14.4
vs History
20
vs Industry
11
Median 3Y
12.3
Median 5Y
11.8
Industry
2.5
More Details

Multiples Across Competitors

FTNT Competitors Multiples
Fortinet Inc Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
US
Fortinet Inc
NASDAQ:FTNT
74.2B USD 13 48.5 41.4 44.4
US
Microsoft Corp
NASDAQ:MSFT
3.3T USD 12.8 36 23.4 28.7
US
Oracle Corp
NYSE:ORCL
480B USD 8.7 41.3 23.5 31.8
US
ServiceNow Inc
NYSE:NOW
226.8B USD 21.7 169.7 122.2 177
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
89.9B USD 24 709.7 436.7 -83 889.1
US
Palo Alto Networks Inc
NASDAQ:PANW
61.8B USD 7.5 22.6 44.7 58.2
US
VMware Inc
XETRA:BZF1
58B EUR 4.4 42.4 19.6 33.1
US
Xperi Holding Corp
LSE:0M2A
54.6B USD 158.9 1 322.6 292.5 517.1
US
Zscaler Inc
NASDAQ:ZS
28.8B USD 12.5 -793.6 -1 650.9 -256.6
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
21B USD 8.3 25.1 20.5 22.4
US
Gen Digital Inc
NASDAQ:GEN
17.2B USD 4.4 27.7 11.6 14.9
P/E Multiple
Earnings Growth P/E to Growth
US
Fortinet Inc
NASDAQ:FTNT
Average P/E: 244.5
48.5
88%
0.5
US
Microsoft Corp
NASDAQ:MSFT
36
53%
0.7
US
Oracle Corp
NYSE:ORCL
41.3
120%
0.3
US
ServiceNow Inc
NYSE:NOW
169.7
145%
1.2
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
709.7
1 458%
0.5
US
Palo Alto Networks Inc
NASDAQ:PANW
22.6
9%
2.6
US
V
VMware Inc
XETRA:BZF1
42.4
169%
0.3
US
Xperi Holding Corp
LSE:0M2A
1 322.6
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -793.6 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
25.1
45%
0.6
US
Gen Digital Inc
NASDAQ:GEN
27.7
170%
0.2
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
US
Fortinet Inc
NASDAQ:FTNT
Average EV/EBITDA: 103.6
41.4
95%
0.4
US
Microsoft Corp
NASDAQ:MSFT
23.4
56%
0.4
US
Oracle Corp
NYSE:ORCL
23.5
86%
0.3
US
ServiceNow Inc
NYSE:NOW
122.2
343%
0.4
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
436.7
922%
0.5
US
Palo Alto Networks Inc
NASDAQ:PANW
44.7
225%
0.2
US
V
VMware Inc
XETRA:BZF1
19.6
70%
0.3
US
Xperi Holding Corp
LSE:0M2A
292.5
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -1 650.9 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
20.5
33%
0.6
US
Gen Digital Inc
NASDAQ:GEN
11.6
58%
0.2
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
US
Fortinet Inc
NASDAQ:FTNT
Average EV/EBIT: 103.1
44.4
98%
0.5
US
Microsoft Corp
NASDAQ:MSFT
28.7
52%
0.5
US
Oracle Corp
NYSE:ORCL
31.8
110%
0.3
US
ServiceNow Inc
NYSE:NOW
177
562%
0.3
US
CrowdStrike Holdings Inc
NASDAQ:CRWD
Negative Multiple: -83 889.1
13 392%
N/A
US
Palo Alto Networks Inc
NASDAQ:PANW
58.2
312%
0.2
US
V
VMware Inc
XETRA:BZF1
33.1
119%
0.3
US
Xperi Holding Corp
LSE:0M2A
517.1
N/A N/A
US
Zscaler Inc
NASDAQ:ZS
Negative Multiple: -256.6 N/A N/A
IL
Check Point Software Technologies Ltd
NASDAQ:CHKP
22.4
37%
0.6
US
Gen Digital Inc
NASDAQ:GEN
14.9
118%
0.1

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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