Fortinet FTNT
Cybersecurity Security Infrastructure Software Enterprise Software Semis/Hardware

Fortinet trades at 10.7x EV/NTM revenue on a $88.43B enterprise value. Revenue grew 20.5% year over year to $2.08B in the quarter ending September 2026, an annual run rate of $8.31B. Fortinet reports a 79.0% gross margin and 16.9-month CAC payback.

ARR ($M)
Net Dollar Retention
--
ARR Growth
--
EV / NTM Revenue
10.7x
Payback Period
16.9
EV / Run Rate
10.6x
Price & Key Metrics
Price Performance
Company Details
Share Price: 126.21
Last Filing Date: 2026-09-30
Fiscal Year End: 12-31
Last Filing: Form
Founding Year: 2000
IPO Year: 2009
% of 52 wk High: 65%
Description
Fortinet develops and markets Cybersecuritysoftware and appliances and services, such as firewalls, anti-virus, intrusion prevention and endpoint security.
Reporting Notes
Categories
Cybersecurity Security Infrastructure Software Enterprise Software Semis/Hardware
Valuation
Market Cap: 92,727.716
Enterprise Value: 88,425.816
EV / Revenue Run Rate: 10.6x
EV / NTM Revenue: 10.7x
EV / 2026 Revenue Estimates: 11.4x
EV / 2027 Revenue Estimates: 10.3x
EV / 2028 Revenue Estimates: 8.7x
Key Business Metrics
Net Dollar Retention: --
Customers: --
ARR: --
ARR Growth %: --
ARR/Customer ($K): --
ARR/Employee ($K): --
Revenue
Revenue Run Rate: 8,313
ARR: --
2026 Revenue Estimates: 7,765
2027 Revenue Estimates: 8,604
2028 Revenue Estimates: 10,183
LTM Revenue: 7,880
Last Year Run Rate: 6,899
Growth
Revenue Growth: 20%
ARR Growth: --
Growth Persistence: 143%
2026 Revenue Growth Estimates: 15%
2027 Revenue Growth Estimates: 11%
2028 Revenue Growth Estimates: 18%
Financials
Quarterly
Calendar Year
Frequently Asked Questions

How fast is Fortinet growing?

Fortinet grew revenue 20.5% year over year, reaching $2.08B in the quarter ending September 2026.

What multiple does Fortinet trade at?

Fortinet trades at 10.7x EV/NTM revenue and 10.6x EV/run-rate, on an enterprise value of $88.43B.

Is Fortinet profitable?

For Fortinet, operating income was $704.3M last quarter and LTM free cash flow margin is 43.5%.

How long does it take Fortinet to pay back CAC?

Fortinet recovers customer acquisition cost in about 16.9 months.

What sector is Fortinet in?

Public Comps classifies Fortinet under Cybersecurity, Security, Infrastructure Software, Enterprise Software, and Semis/Hardware.

Where does Public Comps get Fortinet's data?

Figures come from Fortinet's own SEC filings, normalised into a consistent quarterly format and refreshed after each earnings release.