FTNT
FortinetPrevious close
136.08
Change
−3.02 / −2.17%
P/E (TTM) ?
44.0
Market Cap
$99.4B
1M
−23.88%
S&P 500 −0.91% over same period
Volume / Avg Volume
8.7M / 6.1M
1.43× average
Latest earnings analysisFY2026 Q2Reported 2026-07-29
Fortinet Q2 FY2026: revenue up 26%, EPS beats and guidance rises
Fortinet's fiscal Q2 2026 was strong on almost every line: revenue rose 26.0% to $2.05 billion, GAAP EPS reached $0.82 and non-GAAP EPS of $0.90 beat the $0.7611 consensus estimate. Net income was $606.3 million and gross margin held at 80.2%. Growth accelerated and management raised full-year revenue guidance, but margin is below year-ago levels and the buyback pace slowed sharply, so read the growth story first and the margin trend second.
Read the full analysis →Revenue$2.05BYoY +25.60%
EPS (non-GAAP)$0.90Beatest. $0.76
Next-quarter revenue guidance$2.06B ±2.19%YoY +0.30%
Next-day move+0.67%
Recent Earnings
Click to read the FinDog analysis| Period | Reported | Revenue | Analysis |
|---|---|---|---|
| FY2026 Q2 Quarter ended 2026-06 | 2026-07-29 | $2.0B | Read analysis → |
| FY2026 Q1 Quarter ended 2026-03 | 2026-05-06 | $1.8B | Pending |
| FY2025 Q4 Quarter ended 2025-12 | 2026-02-05 | $6.8B | Pending |
| FY2025 Q3 Quarter ended 2025-09 | 2025-11-05 | $1.7B | Pending |
| FY2025 Q2 Quarter ended 2025-06 | 2025-08-06 | $1.6B | Pending |
| FY2025 Q1 Quarter ended 2025-03 | 2025-05-07 | $1.5B | Pending |
Decision Panel
Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market dataValuation
P/E is at percentile 53 of its 5-year rangeMid-range
5-year range 32.2 – 61.5 · Median 43.6
Last 4 quarters: $1.0B in buybacks + $0 in dividends, 1.04% of market cap combined
P/E (TTM)
44.0
P/B
44.7
P/S
12.8
PEG
2.72
Earnings Reaction
Over the last 6 reports, the stock moved ±10.4% on average on the first trading day after, rising 3 times
Most recent +0.67%
Guidance Credibility
Of the last 2 next-quarter revenue guides, 2 were met; actual results averaged 3.8% above guidance
Volatility & Correlation
1-year beta 1.02 · Correlation with S&P 500 0.27Tracks the market
Annualized volatility 48% vs. 13% for the S&P 500
Insider Trading
View all →Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
Buy 0 · $0.00MSell 6 · $36.2MNet selling $36.2M
- 09-24Ohlgart ChristianeChief Financial OfficerSell$0.01M48 shares · Avg price 180.00
- 09-15Whittle JohnCHIEF OPERATING OFFICERSell$0.48M2,835 shares · Avg price 168.74
- 09-14Whittle JohnCHIEF OPERATING OFFICERSell$8.9M53,865 shares · 2 trades · Avg price 165.44
- 08-04Ohlgart ChristianeChief Financial OfficerSell$0.06M387 shares · Avg price 164.59
- 08-03Xie KenPRESIDENT & CEOSell$26.3M161,482 shares · 6 trades · Avg price 162.66
- 08-03Xie MichaelVP, ENGINEERING & CTOSell$0.51M3,121 shares · 4 trades · Avg price 162.63
Multi-Quarter Financial Trends
View all quarters →Last 12 quarters · As reported by the company
| Quarter | Revenue ($B) | YoY | Gross Margin | Net Income ($B) | EPS |
|---|---|---|---|---|---|
| FY2026 Q3 | 2.08 | +20.5% | 79.0% | 0.64 | 0.86 |
| FY2026 Q2 | 2.05 | +25.6% | 80.2% | 0.61 | 0.82 |
| FY2026 Q1 | 1.85 | +20.1% | 80.3% | 0.53 | 0.72 |
| FY2025 Q4 | 1.91 | +14.8% | 79.6% | 0.51 | 0.67 |
| FY2025 Q3 | 1.72 | +14.4% | 80.8% | 0.47 | 0.62 |
| FY2025 Q2 | 1.63 | +13.6% | 80.7% | 0.44 | 0.57 |
| FY2025 Q1 | 1.54 | +13.8% | 81.0% | 0.43 | 0.56 |
| FY2024 Q4 | 1.66 | +17.3% | 81.1% | 0.53 | 0.68 |
| FY2024 Q3 | 1.51 | +13.0% | 82.5% | 0.54 | 0.70 |
| FY2024 Q2 | 1.43 | +10.9% | 80.8% | 0.38 | 0.49 |
| FY2024 Q1 | 1.35 | +7.2% | 77.5% | 0.30 | 0.39 |
| FY2023 Q4 | 1.42 | +10.3% | 77.7% | 0.31 | 0.41 |
| Ticker | P/E | Revenue YoY | Gross Margin | 1M | View |
|---|---|---|---|---|---|
| FTNT | 44.0 | +20.5% | 79.0% | −23.88% | Bullish |
| NVDA | 25.8 | +105.9% | 75.0% | −10.39% | Bullish |
| AAPL | 39.3 | +16.4% | 50.1% | +3.49% | Bullish |
| MSFT | 27.2 | +18.8% | 67.8% | +1.76% | Bullish |
| AVGO | 40.4 | +85.5% | 69.1% | −7.15% | Bullish |
| MU | 11.8 | +379.3% | 86.8% | −16.93% | Bullish |
| AMD | 143.0 | +50.1% | 53.8% | −17.48% | Bullish |
| INTC | — | +20.9% | 43.0% | −45.30% | Bullish |
| PLTR | 156.5 | +92.8% | 84.7% | −1.57% | Bullish |