#64USNASDAQ

FTNT

Fortinet

$158.10USD

Data as of 2026-07-21

Composite Score66.0Strong

≤−99

Margin of safety−306%Expensive

Fair value$38.94

Target$130.96

Loss chance54%Neutral

SizeLarge cap

SectorInformation Technology

Dividend—

TypeCommon stock

Price

Pillar breakdown

0–100 percentile rank against the current universe (sector-relative for Quality / Value / Growth / Profitability)

Information Technology median (n=189)

Quality
Profit margins & asset efficiency
96
Exceptional
Information Technology median (n=189) 50
Value
Price vs fundamentals
19
Poor
Information Technology median (n=189) 52
Growth
Revenue & earnings trajectory
81
Exceptional
Information Technology median (n=189) 51
Momentum
Recent price strength
84
Exceptional
Information Technology median (n=189) 66
Health
Balance sheet & solvency
42
Average
Information Technology median (n=189) 65
Profitability
ROE, ROA, ROIC
85
Exceptional
Information Technology median (n=189) 49
Technical
Trend & volatility signals
62
Strong
Information Technology median (n=189) 47
Risk
Volatility & drawdown profile
55
Strong
Information Technology median (n=189) 40

025405570100

Exceptional (70+)Strong (55–70)Average (40–55)Weak (25–40)Poor (<25)

Pillars not shown: Sentiment, ML (Phase 5+).

Risk Summary

Low

Manipulation index

5/100

Composite penalty: −0.50 pts (informational; rank uses raw composite)

Fired components (1)

Accruals momentum (Δ TATA > 0.05 over 3y)[accruals_momentum_high]

Rolls up Phase 4.5 earnings-manipulation defenses (Sloan · Beneish · Dechow · REM · restatement · late-filing · earnings- quality time-series) into a single 0-100 risk index. The soft composite penalty (max 10 pts) is informational only — the ranking uses the raw composite score per project Rule 16.

Fair price check

4 different valuation methods each estimate what FTNTshould be worth, then we compare to today's price.

Heavily overvalued

Models suggest FTNT is far above estimated fair value

Today's price

$158.10

Median fair price

$38.94

-75% vs today's price

Of 2 methods:2 say pricey(2 outliers excluded)

EV/EBITDAOvervalued
thinks it's expensive — estimates $130.96, about 17% below today
P/E multiplesOvervalued
thinks it's expensive — estimates $67.06, about 58% below today
P/B multiplesOutlier
estimate looks unreliable — estimates $10.82 — likely unreliable
Graham (defensive)Outlier
estimate looks unreliable — estimates $6.37 — likely unreliable

How to read this: “Cheap” = method's fair price is at least 20% above today. “Fair” = within ±10–20%. “Pricey” = at least 10% below today. Outliers (values more than 5× or less than 0.2× today's price) are excluded.

Fair price ensemble

Median fair: $38.94
Margin of safety(vs fair value): < −99%
Max (ex-outliers): $130.96
Tangible BVPS: $0.88

Extreme Graham estimate
Extreme P/B estimate
Accruals momentum

Median of all applicable methods (current price $158.10). Per-method estimates + each method’s cheap/fair/pricey read are in the Fair price check above. Outliers above 5× or below 0.2× current price are excluded from the max but kept in the median. See methodology for the 6-method ensemble + 7 defenses.

Defense layer. Flags mark elevated risk, never confirmed fraud. This model cannot catch every manipulation and decays after publication — weigh it against its stated error rates.

Supporting dataRaw fundamentals & data-quality provenance behind the scores above

Raw fundamentals (SEC EDGAR)

Metric	Value
Market cap	$115.83B
Revenue (TTM)	$7.11B
Net income (TTM)	$1.95B
Operating cash flow (TTM)	$2.80B
CapEx (TTM)	$392.60M
Free cash flow (TTM)CFO − CapEx	$2.41B
Total assets	$9.88B
Total liabilities	$8.89B
Stockholders' equity	$989.70M
Cash & equivalents	$2.22B
Shares outstanding	732.65M
EPS (basic)	$2.67
EPS (diluted)	$2.67
P/E ratio (TTM)	59.26

TTM = trailing twelve months. Balance sheet items are point-in-time (latest filing).

Data quality

Latest filed date: 2026-05-08
Latest period end: 2026-05-04
Filing lag: 74 days
Missing metrics: 1(dividends_paid)