Fortinet, Inc.
Nasdaq: FTNT·Sunnyvale, California·CIK 0001262039
- Price
- $178.72
- Base IV
- $50.54
- Your value
- $50.54
- -71.7%
Valuation snapshot
Price is above even the bull case. Price as of Oct 2, 2026 · Valuation Aug 16, 2026.
Track record
Reported financials are not available yet.
Why the gap?
At $178.72 the market is pricing Fortinet, Inc. as if revenue grows 49.7% a year. This valuation assumes it grows 13.0% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.
Implied by price
+49.7%
revenue growth a year, holding everything else researched
Assumed here
+13.0%
researched base case, grounded in filings and guidance
Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.
Your valuation
Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.
- 01 Revenue growth17.0%
- 02 Operating margin33.0%
- 03 Risk and beta1.05
- 04 Long-run growth2.5%
About 4 minutes · no account needed
What drives the base case
All three cases →The latest results show broad demand, led by a sharp product rebound and strong billings, while recurring services provide visibility into future sales. The base case assumes those forces keep growth healthy but do not preserve the latest surge indefinitely. Scale and a richer service mix largely fund continued investment, leaving profitability near recent levels.
What shapes the assumptions
No structured value drivers are attached to this valuation yet.
How confident is this estimate?
Quality checksSome of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.
- Scenario dispersion6.2
- Terminal-value dependency2.9
- Historical stability8.8
- Margin predictability9.0
Why the number moved
No prior valuation bridge is available yet. Future recalculations will explain what moved.
Base estimate
$50.54 -71.7%