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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1491
Positioning
Market Dominance
Manufacturing
Computer Hardware
$64.4B
Ken Xie
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions. Fortinet also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = FTNT ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 32.9% | 20.5% | 48.8% | 30.6% | 24.4% | 7.7% | 0.9% | 32.0x | $148.6B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.4% | 7.5% | 68.3% | 19.5% | 18.2% | 29.0% | 0.0% | 0.0x | $84M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$FTNT Fortinet, Inc. | 53 | 65 | 63 | 34 | 31.5x | 30.8x | 256.7% | 20.2% | 81.2% | 30.1% | 29.6% | 20.3% | 0.0% | 1173.0x | $64.4B | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -1.9% | 0.9% | 44.1% | 2.5% | 1.0% | 6.7% | 0.0% | 0.2x | - | REF |
Fortinet, Inc. (FTNT) receives a "Hold" rating with a composite score of 53.3/100. It ranks #1491 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Lagging peers — losers tend to keep underperforming
Trading at a discount to fundamentals — favorable entry valuation
High profitability & efficiency — strong quality floor supports entry
Low volatility — smoother ride and historically better risk-adjusted returns
Moderate investment profile
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for FTNT.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 65 | 73 | -8DRAG |
| MOMENTUM | 34 | 23 | +11ALPHA |
| VALUATION | 63 | 58 | +5NEUTRAL |
| INVESTMENT | 38 | 70 | -32DRAG |
| STABILITY | 69 | 69 | 0NEUTRAL |
| SHORT INT | 69 | 81 | -12DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy 256.7% (sector -1.9%)
GM 81% vs sector 44%, OM 30% vs sector 3%
Capital turnover N/A, R&D intensity 12.5%
Rev growth 20%, 10yr history
Interest coverage 88.3x, Net debt/EBITDA -1.8x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Fortinet, Inc. (FTNT) as a Hold with a composite score of 53.3/100 at a current price of $75.21. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
Fortinet, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 53.3/100 places it at rank #1491 in our full universe.
Wide
High
Standard
Undervalued
Gross margins of 81% signal strong pricing power.
Returns on equity of 256.7% exceed cost of capital.
Stable competitive position in a defensive sector.
Leverage of 1173% D/E amplifies downside risk.
Weak momentum suggests persistent institutional selling pressure.
Vulnerability to macroeconomic shocks and interest rate volatility.
Fortinet, Inc. represents a hold based on multi-factor quantitative performance.
Our model assigns Fortinet, Inc. a Hold rating, with a composite score of 53.3/100 and 3 out of 5 stars. Ranked #1491 of 7,333 stocks, FTNT presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
FTNT earns a quality score of 65/100, indicating above-average business quality. The company reports a return on equity of 256.7% (sector avg: -1.9%), gross margins of 81.2% (sector avg: 44.1%), net margins of 29.6% (sector avg: 1.0%). Companies in this tier generally demonstrate consistent profitability and efficient capital deployment, though they may face some competitive pressure.
FTNT's value score of 63/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/E ratio of 31.52x, an EV/EBITDA of 30.82x, a P/B ratio of 80.93x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
Fortinet, Inc.'s investment score of 38/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 20.3% vs. a sector average of 6.7% and a return on assets of 20.2% (sector: 0.9%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
FTNT is currently showing below-average momentum at 34/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth stands at 20.3% year-over-year, while a beta of 1.23 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
FTNT shows good financial stability with a score of 69/100. Key stability metrics include a beta of 1.23 and a debt-to-equity ratio of 1173.00x (sector avg: 0.2x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
FTNT carries a short interest score of 69/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include above-average market sensitivity (beta: 1.23), elevated leverage (D/E: 1173.00x). At $64.4B market cap (large-cap), Fortinet, Inc. offers reasonable institutional liquidity.
Fortinet, Inc. is a large-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #1491 of 7,333 overall (80th percentile). Key comparisons include ROE of 256.7% exceeding the -1.9% sector median and operating margins of 30.1% above the 2.5% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While FTNT currently exhibits a HOLD profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Manufacturing Alpha →Quant Factor Profile
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Momentum (34) is the limiting factor — improvement here would lift the composite score most.
EV/EBITDA 169% ABOVE SECTOR MEDIAN
ROE 13613% BELOW SECTOR MEDIAN
Gross Margin 84% ABOVE SECTOR MEDIAN (FAVORABLE)
Above 50MA
37.18%
Net New Highs
+51081
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