FTNT · NMS S&P 500

Fortinet, Inc.

Technology · Software - Infrastructure

$123.57 +$1.10 (+0.90%) today

Closing price on Nov 10, 2026 · Source: Yahoo Finance

Consensus of 43 analysts

Hold

Median price target $140.00 +13.3%

Open: $122.50
Day range: 119.65 – $124.83
52-week range: 73.55 – $197.13
Volume: 5,598,339
Market cap: $90,788M
P/E (TTM): 40.4x
EPS (TTM): $3.06
EPS est. 2026: $3.56
P/E est. 2026: 34.7x
Dividend yield: n/a
Beta: 1.04
Payout: 0%

Fortinet financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	$2,078M	+20.5%
Net income	$636M	+34.1%
Earnings per share	$0.86	+38.7%
Net margin	30.6%	+3.1 pp
Free cash flow	$882M	+55.4%
Debt / equity	0.22	−83.7%

Revenue and net income ($M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	$1,725M	$474M
Q4 2025	$1,905M	$506M
Q1 2026	$1,850M	$535M
Q2 2026	$2,048M	$606M
Q3 2026	$2,078M	$636M

Fortinet earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 39	$0.9400.92 – 0.99	+16.1%$0.810
Next quarterQ1 2027 · Analysts: 33	$0.8560.77 – 0.91	+4.4%$0.820
Current year2026 · Analysts: 42	$3.5643.50 – 3.64	+29.1%$2.760
Next year2027 · Analysts: 43	$3.9013.63 – 4.41	+9.5%$3.564

Forward P/E: 34.7x (2026) and 31.7x (2027) at the current price.

Actual and estimated EPS ($)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	$0.620	—
Q4 2025	$0.810	$0.743
Q1 2026	$0.820	$0.618
Q2 2026	$0.900	$0.747
Q3 2026	$0.910	$0.859
Q4 2026	—	$0.940
Q1 2027	—	$0.856

Year	Actual EPS	Estimated EPS
2022	$1.060	—
2023	$1.460	—
2024	$2.260	—
2025	$2.420	—
2026	—	$3.564
2027	—	$3.901

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	$0.856	+4.4%
Q4 2026Estimated	$0.940	+16.1%
Q3 2026	$0.910est. $0.859 · surprise +6.0%	+46.8%
Q2 2026	$0.900est. $0.747 · surprise +20.5%	n/a
Q1 2026	$0.820est. $0.618 · surprise +32.6%	n/a
Q4 2025	$0.810est. $0.743 · surprise +9.0%	n/a
Q3 2025	$0.620	n/a

Year	EPS	Annual change
2027Estimated	$3.901	+9.5%
2026Estimated	$3.564	+47.3%
2025	$2.420	+7.1%
2024	$2.260	+54.8%
2023	$1.460	+37.7%
2022	$1.060	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Fortinet dividend

Fortinet has not paid dividends in recent years.

Fortinet forecasts

43 analyst ratings

Buy19% Hold70% Sell12%

Consensus: Hold · 8 buy, 30 hold, 5 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	$190.00	+53.8%
Median	$140.00	+13.3%
Low	$110.00	−11.0%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	$81.13
Dec 31, 2025	$79.41
Jan 30, 2026	$81.26
Feb 27, 2026	$79.03
Mar 31, 2026	$81.72
Apr 30, 2026	$84.31
May 29, 2026	$137.97
Jun 30, 2026	$153.62
Jul 31, 2026	$161.95
Aug 31, 2026	$170.93
Sep 30, 2026	$178.76
Oct 30, 2026	$136.08
Nov 10, 2026	$123.57

Fortinet peers

Ticker	Company	Market cap ($M)	P/E	Price ($)	1-day change	52-week range
FTNT	Fortinet	90,788	40.4x	123.57	+0.90%	73.55197.13
MSFT	Microsoft Corp.	3,959,350	27.8x	533.16	−2.20%	349.20559.15
PLTR	Palantir Technologies	406,771	118.9x	168.82	−0.22%	106.37212.94
ORCL	Oracle	367,827	18.5x	117.98	−1.51%	109.21250.25
PANW	Palo Alto Networks	267,107	815.9x	326.36	−1.37%	139.57432.33
CRWD	CrowdStrike	231,164	3,762.7x	225.76	−1.23%	85.68286.99