Agree Realty Corporation (ADC) vs Fortinet, Inc. (FTNT)
A side-by-side comparison of Agree Realty Corporation and Fortinet, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 2, 2026. Differences are shown without an overall score or investment verdict.
Total return — ADC vs FTNT
growth of $100 · dividends reinvested · last 10yADC vs FTNT: by the numbers
- •FTNT is the larger company ($131.13B vs $7.81B market cap).
- •ADC converts more revenue to profit (28.87% vs 28.17% net margin).
- •ADC grew revenue faster over the past five years (21.41% vs 20.93% CAGR).
- •ADC pays a dividend (4.88% yield), while FTNT has no payments in the available dividend history.
Metrics side by side
Valuation
| Metric | ADC | FTNT |
|---|---|---|
| P/E ratio | 34.96 | 62.93 |
| Forward P/E | 34.24 | 51.81 |
| PEG ratio | 102.83 | 1.90 |
| P/S ratio | 10.02 | 17.42 |
| P/B ratio | 1.20 | 84.54 |
| EV / EBITDA | 17.82 | 47.77 |
| FCF yield | N/A | 2.38% |
For REITs like Agree Realty Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | ADC | FTNT |
|---|---|---|
| Gross margin | 87.73% | 80.38% |
| Operating margin | 48.35% | 32.43% |
| Net margin | 28.87% | 28.17% |
| ROE | 3.45% | 136.72% |
| ROIC | 3.56% | 32.78% |
Dividends
| Metric | ADC | FTNT |
|---|---|---|
| Dividend yield | 4.88% | N/A |
| Payout ratio | 170.65% | N/A |
Agree Realty Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | ADC | FTNT |
|---|---|---|
| Revenue CAGR (5Y) | 21.41% | 20.93% |
| EPS CAGR (5Y) | 0.11% | 32.39% |
| FCF CAGR (5Y) | N/A | 22.98% |
| Total return CAGR (5Y) | 3.76% | 24.57% |
Frequently asked
- Which has grown faster, ADC or FTNT?
- Over the past five years, ADC grew revenue faster — ADC at a 21.41% CAGR versus FTNT at 20.93%.
- Does ADC or FTNT pay a bigger dividend?
- ADC pays a dividend (4.88% yield), while FTNT has no payments in the available dividend history.
- Is ADC or FTNT more profitable?
- ADC runs the higher net margin — ADC at 28.87% versus FTNT at 28.17%.
- How have ADC and FTNT total returns compared?
- Over the past 10 years, ADC delivered 7.04% and FTNT delivered 37.51% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Agree Realty & Fortinet appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 2, 2026.