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Fortinet Inc

FTNT

Market Cap$53.95B
Close$

Compare Fortinet

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Fortinet IncFortinet Inc46.90%1553%11.213.4
marketMarket Avg49.51.28%13%6.20.1
TechnologyTechnology Avg17.30.64%48%110.9

Earnings Call Q4 2023

February 6, 2024 - AI Summary

Total billings for Q4 2023 grew by 8.5% to $1.9 billion, driven by increased focus on Secure Ops and SASE.
Fortinet closed six eight-figure deals across five industry verticals, highlighting the value of their integrated platform and technology advantages.
The total addressable market for secure op, SASE, and secure networking is expected to increase from $150 billion in 2024 to $208 billion by 2027.
Secure Ops billing grew by 44%, accounting for 11% of total billing, with strong performance from solutions such as EDR, SIEM, email security, and NDR.
Unified SASE billing grew by 19%, accounting for 21% of total billing. Fortinet's FortiSASE solution gained momentum, closing its first eight-figure deal for 350,000 seats.
For Q1 2024, Fortinet expects billings in the range of $1.390 billion to $1.450 billion, representing a decline of 5.5%. Full-year billings guidance is in the range of $6.400 billion to $6.600 billion, with revenue growth of 9%. Note: No specific mention was made regarding dividends or buybacks during the call.
$67.67

Target Price by Analysts

1.1% upsideFortinet Target Price DetailsTarget Price
$75.80

Current Fair Value

13.2% upside

Undervalued by 13.2% based on the discounted cash flow analysis.

Share Statistics

Market cap$53.95 Billion
Enterprise Value$51.78 Billion
Dividend Yield$0.0 (0.0%)
Earnings per Share$1.45
Beta1.26
Outstanding Shares767,909,603
Avg 30 Day Volume8,111,182

Return

Return on Equity-
Return on Assets-
Return on Invested Capital-

Valuation & Multiples

P/E Ratio46.89
PEG118.94
Price to Sales11.16
Price to Book Ratio-
Enterprise Value to Revenue10.01
Enterprise Value to EBIT43.18
Enterprise Value to Net Income44
Total Debt to Enterprise0.02
Debt to Equity13.38

Revenue Sources

No data

ESG Score

No data

About Fortinet Inc

CEO: Ken Xie