FTNT
Fortinet
PE ratio, current and historical analysis
- Stocks
- Technology
- NASDAQ: FTNT
- PE Ratio
The current PE ratio for Fortinet stock as of Jul 2, 2026 is 60.1. This is calculated based on the TTM EPS of $2.6 and the stock price of $156.25 per share. The PE ratio has increased by 71% from its last 4 quarters average of 35.1.
FTNT PE ratio history
The average historical PE ratio of Fortinet for the last ten years is 84.83. The current price-to-earnings ratio of 60.1 is 29% less than the historical average. Analyzing the last ten years, FTNT's PE ratio reached its highest point in the Sep 2016 quarter at 738.6, when the price was $7.39 and the EPS was $0.01. The lowest point was recorded in the Mar 2026 quarter, when it reached 31.43 with a price of $81.72 and an EPS of $2.6.
Fortinet PE ratio by year
Maximum annual increase: 204.99% in 2015
Maximum annual decrease: -83.88% in 2018
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 32.41 | -21.79% | $79.41 | $2.45 |
| 2024 | 41.44 | 4.07% | $94.48 | $2.28 |
| 2023 | 39.82 | -12.04% | $58.53 | $1.47 |
| 2022 | 45.27 | -53.4% | $48.89 | $1.08 |
| 2021 | 97.14 | 96.2% | $71.88 | $0.74 |
| 2020 | 49.51 | -9.57% | $29.71 | $0.6 |
| 2019 | 54.75 | 55.45% | $21.35 | $0.39 |
| 2018 | 35.22 | -83.88% | $14.09 | $0.4 |
| 2017 | 218.45 | 45.05% | $8.74 | $0.04 |
| 2016 | 150.6 | -75.84% | $6.02 | $0.04 |
| 2015 | 623.4 | 204.99% | $6.23 | $0.01 |
| 2014 | 204.4 | 167.12% | $6.13 | $0.03 |
| 2013 | 76.52 | 45.61% | $3.83 | $0.05 |
| 2012 | 52.55 | -3.63% | $4.2 | $0.08 |
| 2011 | 54.53 | 1.13% | $4.36 | $0.08 |
Fortinet PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 31.43 | -3.02% | $81.72 | $2.6 |
| Dec 2025 | 32.41 | -5.95% | $79.41 | $2.45 |
| Sep 2025 | 34.46 | -17.85% | $84.08 | $2.44 |
| Jun 2025 | 41.95 | 6.77% | $105.72 | $2.52 |
| Mar 2025 | 39.29 | -5.19% | $96.26 | $2.45 |
| Dec 2024 | 41.44 | 6.86% | $94.48 | $2.28 |
| Sep 2024 | 38.78 | 9.39% | $77.55 | $2 |
| Jun 2024 | 35.45 | -20.09% | $60.27 | $1.7 |
| Mar 2024 | 44.36 | 11.4% | $68.31 | $1.54 |
| Dec 2023 | 39.82 | -0.25% | $58.53 | $1.47 |
| Sep 2023 | 39.92 | -28.7% | $58.68 | $1.47 |
| Jun 2023 | 55.99 | 3.63% | $75.59 | $1.35 |
| Mar 2023 | 54.03 | 19.35% | $66.46 | $1.23 |
| Dec 2022 | 45.27 | -15.22% | $48.89 | $1.08 |
| Sep 2022 | 53.4 | -21.67% | $49.13 | $0.92 |
FTNT Price vs fair value
FTNT average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of FTNT is above its 3 and 5-year averages, but it is under its 10-year average.
PE comparison
With a price to earnings (P/E) of 60.1, FTNT stands higher than the Technology sector, the industry and its peers average. Looking at the Technology sector average of 37.27, Fortinet's price to earnings (P/E) is 61% higher.
FTNT PE vs peers
FTNT's PE ratio is less than its peer stock PANW, but it is above CSCO's and FFIV's. Fortinet's current PE ratio of 60.1 is more than the average of its peers, which is 23.09.
| Stock name | PE ratio | Market cap |
|---|---|---|
| HPQ Hp Inc | 8.03 | $20.06B |
| CHKP Check Point Software Technologies Ltd. | 13.78 | $14.42B |
| FFIV F5 Networks Inc | 33.1 | $23.03B |
| CSCO Cisco Systems Inc | 37.44 | $444.16B |
| FTNT Fortinet Inc | 60.1 | $114.48B |
| PANW Palo Alto Networks Inc | 276.24 | $283.67B |
| NTGR Netgear Inc | N/A | $577.06M |
| INTC Intel Corp | N/A | $604.88B |
| ADTN Adtran Inc | N/A | $1.03B |
Frequently asked questions
What is Fortinet's PE ratio?
FTNT stock has a price to earnings ratio of 60.1 as of Jul 2, 2026.
What is the 3-year average PE ratio for Fortinet (FTNT)?
The average PE ratio for FTNT stock over the past 3 years is 38.12.
What is the 5-year average PE ratio for Fortinet (FTNT)?
The average PE ratio for FTNT stock over the past 5 years is 50.82.
What is the highest PE ratio for FTNT?
Over the last ten years, the Sep 2016 quarter recorded the highest quarterly PE ratio at 738.6.
How does the current PE ratio for FTNT compare to its historical average?
The current PE ratio of FTNT is 29% lower than the 10-year historical average.
How is FTNT's PE ratio calculated (Fortinet PE ratio formula)?
The P/E ratio is calculated by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jul 2, 2026), Fortinet's share price is $156.25. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $2.6. Therefore, Fortinet's price to earnings ratio for today is 60.1. PE RATIO(60.1) = STOCK PRICE($156.25) / TTM EPS($2.6)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.