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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
14.1K+
LTM Revenue $6.3B
LTM EBITDA $2.2B
$74.1B
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 (LTM) of $6.3B 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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $6.3B | XXX | $6.0B | XXX | XXX | XXX |
| Gross Profit | $5.1B | XXX | $4.8B | XXX | XXX | XXX |
| Gross Margin | 81% | XXX | 81% | XXX | XXX | XXX |
| EBITDA | $2.2B | XXX | $2.2B | XXX | XXX | XXX |
| EBITDA Margin | 36% | XXX | 37% | XXX | XXX | XXX |
| EBIT | $2.1B | XXX | $1.8B | XXX | XXX | XXX |
| EBIT Margin | 34% | XXX | 30% | XXX | XXX | XXX |
| Net Profit | $1.9B | XXX | $1.7B | XXX | XXX | XXX |
| Net Margin | 30% | XXX | 29% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Fortinet's stock price is $102.
Fortinet has current market cap of $77.9B, and EV of $74.1B.
See Fortinet trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $74.1B | $77.9B | XXX | XXX | XXX | XXX | $2.41 |
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Start Free TrialAs of May 30, 2025, Fortinet has market cap of $77.9B and EV of $74.1B.
Fortinet's trades at 12.4x EV/Revenue multiple, and 33.7x EV/EBITDA.
Equity research analysts estimate Fortinet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Fortinet has a P/E ratio of 41.6x.
See valuation multiples for Fortinet and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $77.9B | XXX | $77.9B | XXX | XXX | XXX |
| EV (current) | $74.1B | XXX | $74.1B | XXX | XXX | XXX |
| EV/Revenue | 11.8x | XXX | 12.4x | XXX | XXX | XXX |
| EV/EBITDA | 33.0x | XXX | 33.7x | XXX | XXX | XXX |
| EV/EBIT | 34.6x | XXX | 41.1x | XXX | XXX | XXX |
| EV/Gross Profit | 14.6x | XXX | n/a | XXX | XXX | XXX |
| P/E | 41.6x | XXX | 44.6x | XXX | XXX | XXX |
| EV/FCF | 37.0x | XXX | 39.4x | 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.
Start Free TrialFortinet's last 12 month revenue growth is 13%
Fortinet's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.
Fortinet's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Fortinet's rule of X is 68% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Fortinet and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 13% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 36% | XXX | 37% | XXX | XXX | XXX |
| EBITDA Growth | 11% | XXX | 26% | XXX | XXX | XXX |
| Rule of 40 | 41% | XXX | 50% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 68% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 34% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 12% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 50% | 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 |
Valuation data powered by FactSet, Inc.
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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| 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 14.1K+ 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 $77.9B |
| What is the current revenue of Fortinet? | Fortinet's last 12 months revenue is $6.3B. |
| What is the current revenue growth of Fortinet? | Fortinet revenue growth (NTM/LTM) is 13%. |
| What is the current EV/Revenue multiple of Fortinet? | Current revenue multiple of Fortinet is 11.8x. |
| Is Fortinet profitable? | Yes, Fortinet is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Fortinet? | Fortinet's last 12 months EBITDA is $2.2B. |
| What is Fortinet's EBITDA margin? | Fortinet's last 12 months EBITDA margin is 36%. |
| What is the current EV/EBITDA multiple of Fortinet? | Current EBITDA multiple of Fortinet is 33.0x. |
| What is the current FCF of Fortinet? | Fortinet's last 12 months FCF is $2.0B. |
| What is Fortinet's FCF margin? | Fortinet's last 12 months FCF margin is 32%. |
| What is the current EV/FCF multiple of Fortinet? | Current FCF multiple of Fortinet is 37.0x. |
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