Fortinet, Inc. (FTNT) compounding analysis
Full-size annual and quarterly year-over-year growth charts for revenue, EPS, operating cash flow, EBITDA, and free cash flow against the 15%, 20%, and 30% bars over 3-, 5-, and 10-year windows, with each metric's valuation multiple vs its own history.
Revenue · 5YDoes not currently clear the 15%+, 20%+, or 30%+ revenue bars over 5Y.
- Score
- 47/100
- 5Y CAGR
- 21.3%
- Median YoY
- 18.7%
- YoY volatility
- σ 9.3pp· smooth
- Quarters ≥ 20%
- 10 of 20
- Negative quarters
- 0
- Valuation vs own 5Y history
- P/S 16.3x · 5Y median 11.3x · 87th percentile
How this score is computed
- Quarters at or above 20%: 10 of 20 → 20 of 40 pts
- Steadiness (typical swing 9.3pp) → 18.4 of 25 pts
- Pace (median 18.7% YoY) → 4.9 of 20 pts
- Latest quarter (20.1% YoY) → 3.8 of 15 pts
- Score: 47 of 100
Annual revenue · last 11 fiscal years
Quarterly YoY revenue growth vs the 20% line · 5Y
P/S multiple vs its 5Y median · context only
Across metrics · 5Y
| Metric | 5Y CAGR | Median YoY | YoY σ | Qtrs ≥ 20% | Neg. qtrs |
|---|---|---|---|---|---|
| RevenueRevenue | 21.3% | 18.7% | 9.3pp | 10 of 20 | 0 |
| EPSEPS | 33.2% | 32.3% | 25.6pp | 15 of 20 | 1 |
| Op cash flowOperating cash flow | 19% | 24.2% | 45.1pp | 13 of 20 | 3 |
| EBITDAEBITDA | 30.1% | 32.1% | 18.8pp | 14 of 20 | 0 |
| FCFFree cash flow | 18.4% | 20.8% | 56.7pp | 10 of 20 | 7 |
Reported figures over 5Y: annual-series CAGR, median and standard deviation (σ, percentage points) of quarterly year-over-year growth, quarters at or above 20%, and quarters with negative YoY. “—” means the window needs more comparable data.
Scores, qualification bars, and the 0–100 consistency methodology are documented on the compounders list page →
See also: FTNT on the compounders surface · All compounders, ranked
About Fortinet, Inc.
Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.
- Sector
- Technology
- Industry
- Software - Infrastructure
- CEO
- Ken Xie