Nov 25, 2022
Fortinet, Inc
FTNT
Statistics
| $99.20 | Share Price |
| $102.00 | Fair Value |
| -2.75% | Price vs Fair Value |
| $76.9 B | Market Cap |
| 20.1% | 3yr Avg Revenue Growth |
| 12.6% | Projected Sales Growth Next Year |
| 95.3% | Free Cash Flow ROIC |
 | Rising Revenues |
| Recurring Revenues |
 | High Switching Costs Moat |
Stock Research and Updates
Research Article
Updates
Fortinet (FTNT) Annual Update
Feb 7, 2025
Fortinet Continues To Quietly Deliver
Aug 12, 2024
Updates For Mastercard, Fortinet, and Paycom
Feb 12, 2024
Updating Airbnb, Fortinet, and Atlassian
Nov 6, 2023
Earnings Updates: HUBS, ABNB, FTNT
Aug 12, 2023
Updates: PAYC, FTNT, TEAM, MELI
May 9, 2023
Fortinet Q4 and FY 2023 Update
Feb 9, 2023
Fair Value Calculation Assumptions
Using a discounted free cash flow model with the following assumptions, the Fair Value estimate for Fortinet, Inc (FTNT) is $102.00.
| 35.5% | Free Cash Flow Margin |
| 10.5% | Discount Rate / Required Rate of Return |
| 11.1% | Average Annual Revenue Growth (Years 1-5) |
| -1.7% | Average Annual Share Dilution (Years 1-5) |
| 7.8% | Average Annual Revenue Growth (Years 6-10) |
| -2.0% | Average Annual Share Dilution (Years 6-10) |
| 6.0% | Terminal Growth Rate |
| $101.03 | Sum of Discounted Free Cash Flows |
| $1.19 | Net "Excess" Cash/Debt Per Share |
| $102.00 | Fair Value Estimate (rounded) |
Last updated Feb 7, 2025
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Watch List
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| CMG | 31.89% |
| RDDT | -3.54% |
| NTNX | 16.39% |
| CRWD | 79.36% |
| SE | 18.56% |
| SNOW | 4.67% |
| APPF | 5.15% |
| PINS | -36.61% |
vs. Fair Value Estimates
Buy List
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| TSM | -41.51% |
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| NYAX | -34.12% |
| MSFT | -29.74% |
| ODD | -34.79% |
| ASR | -33.82% |
| FLYW | -44.45% |
| HRMY | -60.62% |
| GLBE | -29.41% |
| YOU | -33.68% |
| ABNB | -35.60% |
| MELI | -27.00% |
| ADBE | -45.51% |
vs. Fair Value Estimates
Hold List
| VTEX | -21.92% |
| CELH | 48.32% |
| TOST | 16.17% |
| CPNG | -18.94% |
| HIMS | -15.83% |
| PAYC | -21.12% |
| MNDY | 8.70% |
| ZS | 25.55% |
| V | -6.98% |
| ADSK | -1.73% |
| NOW | -1.39% |
| FTNT | -2.75% |
| TEAM | -9.10% |
vs. Fair Value Estimates