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Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 800,000 customers across the world.
2000
13.6K+
LTM Revenue $6.2B
LTM EBITDA $2.2B
$71.4B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Fortinet has a last 12-month revenue of $6.2B and a last 12-month EBITDA of $2.2B.
In the most recent fiscal year, Fortinet achieved revenue of $6.0B and an EBITDA of $2.2B.
Fortinet expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Fortinet valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $5.3B | $6.0B | XXX | XXX | XXX |
| Gross Profit | $3.3B | $4.1B | XXX | XXX | XXX |
| Gross Margin | 63% | 68% | XXX | XXX | XXX |
| EBITDA | $1.5B | $2.2B | XXX | XXX | XXX |
| EBITDA Margin | 28% | 37% | XXX | XXX | XXX |
| Net Profit | $857M | $1.1B | XXX | XXX | XXX |
| Net Margin | 16% | 19% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Fortinet's stock price is $97.
Fortinet has current market cap of $74.5B, and EV of $71.4B.
See Fortinet trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $71.4B | $74.5B | XXX | XXX | XXX | XXX | $2.40 |
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Sign UpAs of April 15, 2025, Fortinet has market cap of $74.5B and EV of $71.4B.
Fortinet's trades at 11.5x LTM EV/Revenue multiple, and 32.1x LTM EBITDA.
Analysts estimate Fortinet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Fortinet and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $71.4B | XXX | XXX | XXX |
| EV/Revenue | 12.0x | XXX | XXX | XXX |
| EV/EBITDA | 32.4x | XXX | XXX | XXX |
| P/E | 42.7x | XXX | XXX | XXX |
| P/E/Growth | 3.7x | XXX | XXX | XXX |
| EV/FCF | 38.0x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpFortinet's NTM/LTM revenue growth is 13%
Fortinet's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Fortinet's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Fortinet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Fortinet and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 37% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 50% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 50% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.4M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 34% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 4% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 12% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 50% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| archTIS | XXX | XXX | XXX | XXX | XXX | XXX |
| FirstWave | XXX | XXX | XXX | XXX | XXX | XXX |
| Prophecy International | XXX | XXX | XXX | XXX | XXX | XXX |
| Qoria | XXX | XXX | XXX | XXX | XXX | XXX |
| Quick Heal | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Fortinet acquired XXX companies to date.
Last acquisition by Fortinet was XXXXXXXX, XXXXX XXXXX XXXXXX . Fortinet acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Fortinet founded? | Fortinet was founded in 2000. |
| Where is Fortinet headquartered? | Fortinet is headquartered in United States of America. |
| How many employees does Fortinet have? | As of today, Fortinet has 13.6K+ employees. |
| Who is the CEO of Fortinet? | Fortinet's CEO is Mr. Ken Xie. |
| Is Fortinet publicy listed? | Yes, Fortinet is a public company listed on NAS. |
| What is the stock symbol of Fortinet? | Fortinet trades under FTNT ticker. |
| When did Fortinet go public? | Fortinet went public in 2009. |
| Who are competitors of Fortinet? | Similar companies to Fortinet include e.g. archTIS, FirstWave, Prophecy International, Qoria. |
| What is the current market cap of Fortinet? | Fortinet's current market cap is $74.5B |
| What is the current revenue of Fortinet? | Fortinet's last 12-month revenue is $6.2B. |
| What is the current EBITDA of Fortinet? | Fortinet's last 12-month EBITDA is $2.2B. |
| What is the current EV/Revenue multiple of Fortinet? | Current revenue multiple of Fortinet is 11.5x. |
| What is the current EV/EBITDA multiple of Fortinet? | Current EBITDA multiple of Fortinet is 32.1x. |
| What is the current revenue growth of Fortinet? | Fortinet revenue growth between 2023 and 2024 was 12%. |
| Is Fortinet profitable? | Yes, Fortinet is EBITDA-positive (as of the last 12 months). |
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