Is the price fair?
What FTNT's price assumes
Fortinet trades at 55.6× earnings against 31.4× for the median Software - Infrastructure name, more expensive than its own group.
55.6
Trailing P/E · Software - Infrastructure median 31.4 · 1.77× the median: the market pays up for this one
- Price / sales
- 8.54
Price / sales · as of 2026-Q1
- Free cash flow yield
- 3.0%
Free cash flow yield · Software - Infrastructure median 5.1%
- Growth the price implies
- +12%
Growth the price implies · The price pays for +12% free cash flow growth a year for a decade; the business has delivered +21% a year over the last three.
Details›
- Price / book2026-Q1
- 61.3
- EV / EBIT2026-Q1
- 26.7
- EV / sales2026-Q1
- 8.30
- Technology median P/E365 names
- 36.5
- Software - Infrastructure median P/E81 names
- 31.4
- Free cash flow, trailing twelve months
- $3.20B
- Market capitalisation
- $106.0B
- 3-year revenue growth
- +15%
- 3-year free cash flow growth
- +21%
| Method | Per share |
|---|---|
| Its own P/E history, lower quartile | $62.52 |
| Its own P/E history, median | $105.52 |
| Its own P/E history, upper quartile | $129.09 |
| 52-week range | $75.23 – $170.90 |
| Today | $157.48 |
Multiples from SEC filings and end-of-day closes; implied growth from a reverse discounted cash flow. Group medians across the names Ryufin tracks.
Software - Infrastructure
The closest names by size in the same industry