Fortinet, Inc. (FTNT) vs Cloudflare, Inc. (NET)
A side-by-side comparison of Fortinet, Inc. and Cloudflare, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of July 30, 2026. Differences are shown without an overall score or investment verdict.
FTNT
Fortinet, Inc.
$154.25TechnologyDelayed quote: Jul 30, 2026, 4:00 PM EDT
NET
Cloudflare, Inc.
$283.44TechnologyDelayed quote: Jul 30, 2026, 4:00 PM EDT
Total return — FTNT vs NET
growth of $100 · dividends reinvested · last 7yFTNT +880.9%NET +1402.1%NET compounded faster
FTNT NET
FTNT vs NET: by the numbers
- •FTNT is the larger company ($113.01B vs $100.60B market cap).
- •FTNT is profitable (28.17% net margin) while NET runs a net loss (-3.72%).
- •NET grew revenue faster over the past five years (37.27% vs 20.93% CAGR).
Metrics side by side
Valuation
| Metric | FTNT | NET |
|---|---|---|
| P/E ratio | 53.95 | N/A |
| Forward P/E | 48.59 | 225.76 |
| P/S ratio | 15.09 | 40.94 |
| P/B ratio | 73.23 | 62.45 |
| PEG ratio | 4.64 | N/A |
| EV / EBITDA | 44.13 | N/A |
| FCF yield | 2.74% | 0.37% |
Profitability
| Metric | FTNT | NET |
|---|---|---|
| Gross margin | 80.38% | 73.33% |
| Operating margin | 32.43% | -9.27% |
| Net margin | 28.17% | -3.72% |
| ROE | 136.72% | -5.68% |
| ROIC | 28.75% | -4.10% |
Growth (annualized)
| Metric | FTNT | NET |
|---|---|---|
| Revenue CAGR (5Y) | 20.93% | 37.27% |
| EPS CAGR (5Y) | 32.39% | N/A |
| FCF CAGR (5Y) | 22.98% | N/A |
| Total return CAGR (5Y) | 22.82% | 17.57% |
Frequently asked
- Which has grown faster, FTNT or NET?
- Over the past five years, NET grew revenue faster — FTNT at a 20.93% CAGR versus NET at 37.27%.
- Is FTNT or NET more profitable?
- FTNT runs the higher net margin — FTNT at 28.17% versus NET at -3.72%.
- How have FTNT and NET total returns compared?
- Over the past 5 years, FTNT delivered 36.27% and NET delivered 17.57% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Fortinet P/E ratioCloudflare P/E ratioFortinet dividend yieldCloudflare dividend yieldFortinet ROECloudflare ROEFortinet operating marginCloudflare operating marginFortinet revenue growthCloudflare revenue growthFortinet free cash flowCloudflare free cash flow
Fortinet & Cloudflare 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 July 30, 2026.