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Fortinet, Inc. (FTNT)

174.08 -10.92 (-5.90%)
At close: October 28 at 4:00:01 PM EDT
128.18 -45.90 (-26.37%)
Pre-Market: 6:23:16 AM EDT
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FTNT Q3 2026 earnings call
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8m ago
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Fortinet reported a strong third quarter, with 20% revenue growth, 29% billings growth, and record non-GAAP profitability. The market response remained negative, with FTNT down 5.90% in the current regular session, as investors focused on slower product-revenue growth and broader software-sector pressure.

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  • Previous Close 185.00
  • Open 184.50
  • Bid 166.27 x 100
  • Ask 183.26 x 100
  • Day's Range 173.02 - 185.13
  • 52 Week Range 73.55 - 197.13
  • Volume 10,151,502
  • Avg. Volume 4,512,660
  • Market Cap (intraday) 127.725B
  • Beta (5Y Monthly) 1.04
  • PE Ratio (TTM) 56.89
  • EPS (TTM) 3.06
  • Earnings Date Oct 28, 2026
  • Forward Dividend & Yield -- (0.00%)
  • 1y Target Est 169.45
  • Morningstar Rating Rating available with Stock Picks access

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

www.fortinet.com

15,472

Full Time Employees

December 31

Fiscal Year Ends

Technology

Sector

Recent News

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Performance Overview

Trailing total returns as of 10/28/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

FTNT
119.22%
S&P 500 (^GSPC)
13.13%

1-Year Return

FTNT
102.73%
S&P 500 (^GSPC)
12.38%

3-Year Return

FTNT
209.42%
S&P 500 (^GSPC)
88.08%

5-Year Return

FTNT
165.87%
S&P 500 (^GSPC)
68.48%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q3 FY26
Revenue 2.08B
Earnings 635.5M
Profit Margin 30.58%

Q4

FY25

Q1

FY26

Q2

FY26

Q3

FY26

0
500M
1B
2B
2B
27.0%
28.0%
29.0%
30.0%

Analyst Insights

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Analyst Price Targets

107.00 Low
169.45 Average
174.08 Current
225.00 High

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell

Latest Rating

Date 10/23/2026
Analyst JP Morgan
Rating Action Maintains
Rating Underweight
Price Action Raises
Price Target 118 -> 140

Statistics

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Valuation Measures

Annual
  • Market Cap

  • Enterprise Value

  • Trailing P/E

  • Forward P/E

  • PEG Ratio (current)

  • Price/Sales (ttm)

  • Price/Book (mrq)

  • Enterprise Value/Revenue

  • Enterprise Value/EBITDA

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    28.17%

  • Return on Assets (ttm)

    14.17%

  • Return on Equity (ttm)

    117.44%

  • Revenue (ttm)

    7.53B

  • Net Income Avi to Common (ttm)

    2.12B

  • Diluted EPS (ttm)

    3.06

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    4.07B

  • Total Debt/Equity (mrq)

    36.19%

  • Levered Free Cash Flow (ttm)

    2.27B

Company Insights

Research Reports

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