Analysis updated on Oct. 16, 2026 (UTC) · Total · absolute moveSwitch to Alpha · Nasdaq
Our AI ranks Fortinet, Inc. outside the neutral middle of its coverage (a directional signal). Create a free account and follow it to see the exact price target.
Fortinet, Inc. is a large-cap company with a market capitalization of $124.09B. It ranks number 1 by market capitalization among the 17 Computer Peripheral Equipment, NEC issuers in our coverage with a current forecast. Its P/B Ratio of 80.00x is the highest of the 16 peers that report one. Its ROE of 136.7% is the highest of the 11 peers that report one.
For FTNT, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 66.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 42.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
Expected absolute price move over the horizon, market included. This is the number a price target is built from. Ratings: strong buy ≥ +5.0%, buy ≥ +3.4%, sell < +1.8%, strong sell < +0.8% (top 15%, next 20%, middle 30%, next 20%, bottom 15% of the 2026-10-16 signals)
A free account shows the exact forecast, rating and rank of 3 tickers you follow, FTNT included.
Follow FTNT free90D Total forecasts of every company scored, cut into five relative ratings at the 15th, 35th, 65th and 85th percentiles (dashed lines).
Trailing twelve months. The industry median and the rank (1 = highest) are taken over the Computer Peripheral Equipment, NEC peers listed below that report each metric.
| Metric | FTNT | Rank |
|---|---|---|
| Market Cap | $124.09B | 1/17 |
| P/E Ratio | 63.34x | 3/7 |
| P/B Ratio | 80.00x | 1/16 |
| EPS | $2.67 | – |
| Book Value/Share | $2.11 | – |
| Revenue/Share | $10.26 | – |
| FCF/Share | $4.25 | – |
| Metric | FTNT | Rank |
|---|---|---|
| ROE | 136.7% | 1/11 |
| ROA | 19.5% | 2/12 |
| ROIC | 40.6% | 1/13 |
| Gross Margin | 80.2% | 1/12 |
| Operating Margin | 32.4% | 1/14 |
| Net Margin | 28.2% | 1/12 |
| EBT Margin | 34.9% | 1/14 |
| Tax Rate | 19.2% | – |
| Metric | FTNT | Rank |
|---|---|---|
| Current Ratio | 1.28x | 12/17 |
| Quick Ratio | 1.19x | 9/15 |
| D/E Ratio | 6.00x | 3/16 |
| Financial Leverage | 7.00x | 3/16 |
| Interest Coverage | 31.1x | 2/12 |
| Working Capital | $1.37B | 2/17 |
| Metric | FTNT | Rank |
|---|---|---|
| Operating Cash Flow | $3.40B | 1/15 |
| Free Cash Flow | $3.12B | 1/9 |
| Capital Spending | -$279M | 9/9 |
| OCF Growth YoY | 41.5% | 2/7 |
| FCF Growth YoY | 53.3% | 1/6 |
| FCF/Sales | 41.4% | 1/9 |
| CapEx/Sales | 3.7% | 4/9 |
| Metric | FTNT | Rank |
|---|---|---|
| Asset Turnover | 0.69x | 6/11 |
| Receivables Turnover | 5.2x | 6/10 |
| Inventory Turnover | 3.5x | 7/11 |
| Fixed Assets Turnover | 4.4x | 7/11 |
| Days Sales Outstanding | 71 days | 5/10 |
| Days Inventory | 104 days | 5/11 |
| Payables Period | 69 days | 1/10 |
| Cash Conversion Cycle | 106 days | 5/7 |
| Metric | FTNT | Rank |
|---|---|---|
| Total Revenue | $7.53B | 2/11 |
| Operating Income | $2.44B | 1/14 |
| Net Income | $2.12B | 1/12 |
| R&D Expense | $846M | 1/12 |
| SG&A Expense | $3.36B | 1/13 |
| Cost of Goods Sold | $1.49B | 1/11 |
| Metric | FTNT | Rank |
|---|---|---|
| Shares Outstanding | 734M | – |
| Net Income Growth | 9.3% | – |
| EPS Growth | 14.1% | – |
| Total Current Assets | $6.21B | 57.2% of assets |
| Cash & Short-term Investments | $2.93B | 27.0% of assets |
| Accounts Receivable | $1.46B | 13.4% of assets |
| Inventory | $426M | 3.9% of assets |
| Total Liabilities | $9.31B | 85.7% of assets |
| Short-term Debt | $4.56B | 42.0% of assets |
Companies classified under the same SEC industry code as Fortinet, Inc. (Computer Peripheral Equipment, NEC): 17 common-stock issuers with a forecast this week, one row per issuer, largest first. This is a classification match, not a curated list of competitors.
Reveal all forecasts · See exact % predictions for all competitors
Sign up free| Company | 90-Day AI Forecast (Total) | Market Cap |
|---|---|---|
| FTNT Fortinet, Inc. | ▲ | $124.09B |
| LOGI Logitech International S.A. | ▶ | $14.95B |
| CRSR Corsair Gaming, Inc. | ▲ | $1.38B |
| EVLV Evolv Technologies Holdings, Inc. | ▶ | $753M |
| MITK Mitek Systems Inc | ▲ | $727M |
| SSYS Stratasys Ltd. | ▲ | $593M |
| XRX Xerox Holdings Corp | ▲ | $324M |
| IMMR Immersion Corp | ▶ | $231M |
| RDCM Radcom Ltd | ▼ | $167M |
| LINK Interlink Electronics Inc | ▲ | $66M |
| YIBO Planet Image International Ltd | ▲ | $63M |
| INVE Inve Technologies, Inc. | ▼ | $54M |
| TACT Transact Technologies Inc | ▲ | $47M |
| WETH Wetouch Technology Inc. | ▲ | $44M |
| VTIX Virtuix Holdings Inc. | ▶ | $27M |
| MYND Mynd.Ai, Inc. | ▲ | $12M |
| AIMD Ainos, Inc. | ▲ | $7M |
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Our AI ranks Fortinet, Inc. outside the neutral middle of its coverage (a directional signal). Create a free account and follow it to see the exact price target.
For FTNT, the Spearman rank correlation between our 90-day forecasts and the returns that followed is 66.0%, measured on 357 forecast dates between 2022-07-29 and 2026-07-17 on this stock's own recent history. A rank correlation runs from -100% to +100%: it measures whether higher forecasts were followed by higher returns, and a value near zero or below means the model has shown little skill on this stock. On the 30-day forecasts the same correlation is 42.0%, measured on 400 forecast dates between 2022-07-29 and 2026-09-16. Across our coverage, the out-of-sample test on 4495 stocks from 2025-01-06 to 2026-07-07 produced a positive net return in 82.5% of rebalance periods (factor-neutral book, net of estimated costs). Full backtest report
Fortinet, Inc. forecasts are refreshed on trading days as the daily model run completes. The forecast on this page was produced on Oct. 16, 2026.
17 issuers in our coverage, FTNT included, share the SEC industry code Computer Peripheral Equipment, NEC. The largest are: Logitech International S.A. (LOGI), Corsair Gaming, Inc. (CRSR), Evolv Technologies Holdings, Inc. (EVLV), Mitek Systems Inc (MITK), Stratasys Ltd. (SSYS), Xerox Holdings Corp (XRX).
This analysis is generated automatically using our proprietary AI systems and should not be considered personalized investment advice. Past performance does not guarantee future results. Always conduct your own research and consider consulting a financial advisor before making investment decisions.
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