FTNT
Fortinet
PEG ratio, current and historical analysis
- Stocks
- Technology
- NASDAQ: FTNT
- PEG Ratio
Fortinet is trading with a PE to growth ratio of 9.85, based on Jul 2, 2026 data. Dividing the 60.1 PE ratio by the 6.1% earnings growth rate yields this valuation metric. Relative to the 2.98 average from the past four quarters, the PEG ratio has soared by 231%.
FTNT PEG ratio history
Historically, Fortinet has a PEG ratio averaging 1.93 across the past ten years. At 9.85, today's PEG ratio sits 410% more than its historical average. The ten years high occurred in the Mar 2020 quarter at 9.58, reflecting maximum valuation relative to growth. The minimum was hit in the Dec 2018 quarter at 0.04, indicating optimal value relative to growth during that period.
Fortinet PEG ratio by year
| Year | PEG ratio | PE ratio | Growth YoY |
|---|---|---|---|
| 2025 | 4.32 | 32.41 | 7.5% |
| 2024 | 0.75 | 41.44 | 55.1% |
| 2023 | 1.1 | 39.82 | 36.1% |
| 2022 | 0.99 | 45.27 | 45.9% |
| 2021 | 4.17 | 97.14 | 23.3% |
| 2020 | 0.92 | 49.51 | 53.8% |
| 2019 | N/A | 54.75 | -2.5% |
| 2018 | 0.04 | 35.22 | 900% |
| 2017 | N/A | 218.45 | 0% |
| 2016 | 0.5 | 150.6 | 300% |
| 2015 | N/A | 623.4 | -66.7% |
| 2014 | N/A | 204.4 | -40% |
| 2013 | N/A | 76.52 | -37.5% |
| 2012 | N/A | 52.55 | 0% |
| 2011 | 1.64 | 54.53 | 33.3% |
Fortinet PEG ratio by quarter (TTM)
| Year | PEG ratio | PE ratio | Growth YoY |
|---|---|---|---|
| Mar 2026 | 5.15 | 31.43 | 6.1% |
| Dec 2025 | 4.32 | 32.41 | 7.5% |
| Sep 2025 | 1.57 | 34.46 | 22% |
| Jun 2025 | 0.87 | 41.95 | 48.2% |
| Mar 2025 | 0.66 | 39.29 | 59.1% |
| Dec 2024 | 0.75 | 41.44 | 55.1% |
| Sep 2024 | 1.07 | 38.78 | 36.1% |
| Jun 2024 | 1.37 | 35.45 | 25.9% |
| Mar 2024 | 1.76 | 44.36 | 25.2% |
| Dec 2023 | 1.1 | 39.82 | 36.1% |
| Sep 2023 | 0.67 | 39.92 | 59.8% |
| Jun 2023 | 0.89 | 55.99 | 62.7% |
| Mar 2023 | 0.94 | 54.03 | 57.7% |
| Dec 2022 | 0.99 | 45.27 | 45.9% |
| Sep 2022 | 1.6 | 53.4 | 33.3% |
FTNT average PEG ratio chart
Measured against past performance, FTNT's PEG ratio sits above its 3, 5 and 10-year averages.
PEG comparison
With a PEG of 9.85, FTNT stands above the Technology sector, the industry and its peers average.
FTNT EPS growth
FTNT Price vs fair value
FTNT PEG vs peers
Relative to its peer stocks CSCO and FFIV, FTNT's PEG ratio is higher. Fortinet's PEG ratio of 9.85 is above the peer average of 1.5.
| Stock name | PEG ratio | Market cap |
|---|---|---|
| CHKP Check Point Software Technologies Ltd. | 0.5 | $14.42B |
| CSCO Cisco Systems Inc | 1.67 | $444.16B |
| HPQ Hp Inc | 1.75 | $20.06B |
| FFIV F5 Networks Inc | 2.09 | $23.03B |
| FTNT Fortinet Inc | 9.85 | $114.48B |
| NTGR Netgear Inc | N/A | $577.06M |
| PANW Palo Alto Networks Inc | N/A | $283.67B |
| INTC Intel Corp | N/A | $604.88B |
| ADTN Adtran Inc | N/A | $1.03B |
Frequently asked questions
What is Fortinet's PEG ratio?
FTNT shows a PEG ratio of 9.85, per Jul 2, 2026 data.
What is the 3-year average PEG ratio for Fortinet (FTNT)?
Over the last 3 years, FTNT's PEG ratio has averaged at 1.75.
What is the 5-year average PEG ratio for Fortinet (FTNT)?
Over the last 5 years, FTNT's PEG ratio has averaged at 1.93.
What is the highest PEG ratio for FTNT?
At 9.85, FTNT's current PEG ratio marks the highest value observed over the past ten years.
How does the current PEG ratio for FTNT compare to its historical average?
Compared to the 10-year average, FTNT's PEG ratio is 410% higher.
Why is Fortinet's PEG ratio so high?
The elevated PEG ratio of 9.85 indicates that FTNT may be overvalued relative to its earnings growth potential.
How is FTNT's PEG ratio calculated (Fortinet PEG ratio formula)?
To calculate the PEG ratio, take the company's PE ratio and divide by its earnings per share growth (YoY TTM). As of Jul 2, 2026, Fortinet has a P/E ratio of 60.1. Earnings grew at 6.1% over the TTM period ending Mar 2026. Applying the formula, this gives a price to earnings growth ratio of 9.85. PEG RATIO(9.85) = PE RATIO(60.1) / EPS GROWTH(6.1%)
All PEG ratio stats are based on quarterly TTM periods, unless otherwise specified.