FTNT
Fortinet
PEG ratio, current and historical analysis
- Stocks
- Technology
- NASDAQ: FTNT
- PEG Ratio
Fortinet is trading with a PE to growth ratio of 1.53, based on Nov 11, 2026 data. Dividing the 41.32 PE ratio by the 27.0% earnings growth rate yields this valuation metric. Relative to the 3.9 average from the past four quarters, the PEG ratio has dropped by 61%.
FTNT PEG ratio history
Historically, Fortinet has a PEG ratio averaging 1.99 across the past ten years. At 1.53, today's PEG ratio sits 23% less 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 |
|---|---|---|---|
| Sep 2026 | 2.14 | 57.66 | 27% |
| Jun 2026 | 3.98 | 53.71 | 13.5% |
| 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% |
FTNT average PEG ratio chart
Measured against past performance, FTNT's PEG ratio is lower than the 3, 5 and 10-year averages.
PEG comparison
With a PEG of 1.53, FTNT stands above the Technology sector and the industry average. Looking at its Technology sector average of 0.56, Fortinet's PEG is 173% higher.
FTNT EPS growth
FTNT Price vs fair value
FTNT PEG vs peers
Relative to its peers, FTNT's PEG ratio is lower than FFIV's but above CSCO's.
Frequently asked questions
What is Fortinet's PEG ratio?
FTNT shows a PEG ratio of 1.53, per Nov 11, 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 2.06.
What is the 5-year average PEG ratio for Fortinet (FTNT)?
Over the last 5 years, FTNT's PEG ratio has averaged at 1.97.
What is the highest PEG ratio for FTNT?
The Mar 2020 quarter marked the ten years high at 9.58 for FTNT's PEG ratio.
How does the current PEG ratio for FTNT compare to its historical average?
Compared to the 10-year average, FTNT's PEG ratio is 23% lower.
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 Nov 11, 2026, Fortinet has a P/E ratio of 41.32. Earnings grew at 27.0% over the TTM period ending Sep 2026. Applying the formula, this gives a price to earnings growth ratio of 1.53. PEG RATIO(1.53) = PE RATIO(41.32) / EPS GROWTH(27.0%)
All PEG ratio stats are based on quarterly TTM periods, unless otherwise specified.