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FTNT$145.80+5.68%
Fair $145.80+0.0%

FTNT

Fortinet, Inc.

Technology / Software - InfrastructureNasdaqGS

$145.80

+7.83 (+5.68%)

Fairly Valued+0.0%Fair Value $145.80Fund rank 38/100 · Data gapFallback financials|
SA 65/B
F-Score: 5/9
Low Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 21% · confianza 25%

FCF escenarios

weak_data · normalized FCF $1.9B · quality 78.3/100

Data gap 38/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 97/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

65/100

B

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

20/100

SEC 0%

Latest source: unknownPeriods: 17Warnings: 1unknown: 17
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified. ROE is 1.5%, below the 5% threshold
Thesis & Journal · FTNTLocal privado en este navegador · Fortinet, Inc.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$106.8B

P/E

56.5x

↑

EV/EBITDA

44.8x

↑

ROE

149.8%

↑

Gross Margin

80.5%

↑

Debt/Equity

0.81

↑
52-Week Range$146
$70$146

TradingView lightweight chart

FTNT price, volumen y niveles de valoración

Último $145.80Periodo +8672.6%
Fair value: $145.80

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2009–2025 · 16 años de histórico normalizado

Revenue CAGR

+22.9%

FCF CAGR

—

FCF margin

32.7%

FCF / Net income

1.20x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $6.80B · net income $1.85B · FCF $2.23B

2009-FY → 2025-FY

Gross margin

80.5%+8.2% pts

Operating margin

30.7%+20.6% pts

Net margin

27.3%+3.4% pts

FCF margin

32.7%— pts
MetricTTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Income Statement
Revenue$6.80B$6.80B$5.96B$5.30B$4.42B$3.34B$2.59B$2.16B$1.80B$1.49B$1.28B$1.01B$770.4M$615.3M$533.6M$433.6M$324.7M$252.1M
Net Income$1.85B$1.85B$1.75B$1.15B$857.3M$606.8M$488.5M$331.7M$334.9M$31.4M$32.2M$8.0M$25.3M$44.3M$66.8M$62.5M$41.2M$60.2M
EBITDA$2.45B$2.45B$2.20B$1.47B$1.08B$734.8M$600.6M$412.6M$290.1M$165.3M$91.4M$46.5M$81.4M$87.7M$112.0M$95.9M$61.0M$31.3M
EPS2.422.422.261.461.060.730.580.380.380.040.040.010.030.050.080.080.050.08
Gross Margin80.5%80.5%80.6%76.7%75.4%76.6%78.0%76.6%75.0%74.2%73.5%71.6%70.0%70.6%72.4%73.8%73.8%72.2%
Operating Margin30.7%30.7%30.3%23.4%21.9%19.5%20.5%16.2%13.0%7.3%3.4%1.5%7.7%11.7%18.8%20.5%17.0%10.0%
Net Margin27.3%27.3%29.3%21.6%19.4%18.2%18.8%15.3%18.6%2.1%2.5%0.8%3.3%7.2%12.5%14.4%12.7%23.9%
Balance Sheet
Debt/Equity0.810.810.67-2.14-3.521.260.00———————————
Current Ratio1.151.15————————————————
Cash Flow
Free Cash Flow$2.23B$2.23B$1.88B$1.73B$1.45B—————————————
Returns
ROE149.8%149.8%116.8%-247.7%-304.4%77.6%57.1%24.7%32.7%5.2%3.8%1.1%3.7%7.6%13.1%17.4%17.7%42.2%
Valuation
P/E56.5156.5143.1339.9645.93—————————————
EV/EBITDA44.8144.8133.3231.0535.74—————————————
P/B90.0890.0850.37———————————————
Growth & Yield
Revenue Growth14.2%14.2%12.3%20.1%—28.8%19.9%19.9%20.7%17.2%26.4%31.0%25.2%15.3%23.1%33.5%28.8%—
EPS Growth7.1%7.1%54.8%37.7%—25.9%52.6%-1.0%966.7%0.0%260.0%-66.7%-42.3%-35.0%5.3%46.2%-33.3%—

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

74.9%

muy exigente

EPS terminal req.

$12.94

Spread vs growth

-67.8%

5Y implied EPS CAGR

45.3%

muy exigente

EPS terminal req.

$15.65

Spread vs growth

-38.2%

10Y implied EPS CAGR

26.4%

muy exigente

EPS terminal req.

$25.21

Spread vs growth

-19.3%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +43.3%

Total return

+43.3%

Start / end P/E

45.0x → 60.2x

EPS bridge

2.26 → 2.42

Residual

+2.4%

EPS growth+7.1%
Multiple rerating+33.8%
Dividend+0.0%
Residual / FX / buybacks / cross-term+2.4%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.