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Fortinet, Inc. (FTNT) EV/Sales Ratio: 14.29x

Is Fortinet, Inc.’s EV/Sales ratio high or low?

Fortinet, Inc.'s EV/Sales ratio of 14.29x is 22% above its 5-year average of 11.75x, around the middle of its 5-year range (7.34x–19.45x).

The EV/Sales ratio for Fortinet, Inc. (FTNT) is 14.29x as of Wednesday, June 10, 2026. It is above its 12-month average by 39.68% (10.23x).

FTNT EV/Sales Ratio Chart

FTNT EV/Sales Ratio
14.29x+14.96% 1Y
Zoom

FTNT Average EV/Sales Ratio Chart

FTNT Current vs Average EV/Sales Ratio Chart

FTNT EV/Sales Ratio Metrics

EV/SALES RATIO

14.29x

EV/SALES RATIO AVG TTM

10.23x

EV/SALES RATIO AVG 3Y

10.43x

EV/SALES RATIO AVG 5Y

11.75x

EV/SALES RATIO AVG 10Y

9.33x

EV/SALES RATIO AVG 15Y

8.56x

EV/SALES RATIO AVG 20Y

8.37x

CURRENT VS TTM AVG

+39.68%

CURRENT VS 3Y AVG

+37.00%

CURRENT VS 5Y AVG

+21.62%

CURRENT VS 10Y AVG

+53.12%

CURRENT VS 15Y AVG

+66.98%

CURRENT VS 20Y AVG

+70.78%

FTNT Competitors' EV/Sales Ratio

NAMEMARKET CAPEV/SALES RATIOTTM3Y5Y
Fortinet, Inc. (FTNT)14.29x10.23x10.43x11.75x
Accenture plc (ACN)$104.93B1.46x2.13x2.85x3.10x
Cadence Design Systems, Inc. (CDNS)$105.80B19.30x17.14x17.80x16.45x
Adobe Inc. (ADBE)$94.61B3.95x5.81x9.54x11.19x
ServiceNow, Inc. (NOW)$109.38B7.88x12.55x15.65x16.32x
Synopsys, Inc. (SNPS)$87.82B11.09x12.40x13.17x12.31x
Snowflake Inc. (SNOW)$83.15B16.60x16.54x17.71x34.20x
Datadog, Inc. (DDOG)$81.03B22.84x16.86x17.95x25.03x
Intuit Inc. (INTU)$77.74B3.85x8.75x10.34x11.02x
Cloudflare, Inc. (NET)$77.62B34.37x36.51x27.62x34.38x

Understanding EV/Sales

Enterprise Value (EV) = Market Cap + Total Debt - Cash

Sales = Total Revenue (TTM)

EV/Sales is commonly used because:

  • It works for unprofitable companies where P/E doesn't apply
  • Revenue is harder to manipulate than earnings
  • It supports comparisons across companies at different profitability stages
  • It is frequently used for software and other revenue-growth-focused companies

Note: EV/Sales does not include margin, debt maturity, cash conversion, or growth durability by itself.

Fortinet, Inc. EV/Sales Ratio Formula & Definition

EV/Sales = Enterprise Value / Revenue (TTM)

Enterprise value to sales compares total company value to revenue, useful across capital structures and for unprofitable companies.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Fortinet, Inc. EV/Sales Ratio FAQ

What is the EV/Sales ratio for Fortinet, Inc. (FTNT)?
The EV/Sales ratio for FTNT stock is 14.29x.
Is Fortinet, Inc.'s EV/Sales ratio high or low?
Fortinet, Inc.'s EV/Sales ratio of 14.29x is 22% above its 5-year average of 11.75x, around the middle of its 5-year range (7.34x–19.45x).
What is the TTM average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The TTM average EV/Sales ratio for FTNT stock is 10.23x.
What is the 3Y average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The 3Y average EV/Sales ratio for FTNT stock is 10.43x.
What is the 5Y average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The 5Y average EV/Sales ratio for FTNT stock is 11.75x.
What is the 10Y average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The 10Y average EV/Sales ratio for FTNT stock is 9.33x.
What is the 15Y average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The 15Y average EV/Sales ratio for FTNT stock is 8.56x.
What is the 20Y average EV/Sales ratio for Fortinet, Inc. (FTNT)?
The 20Y average EV/Sales ratio for FTNT stock is 8.37x.

Fortinet, Inc. EV/Sales Ratio History

DATEEV/SALES RATIO
2026-06-1014.29x
2026-06-0914.22x
2026-06-0814.70x
2026-06-0514.87x
2026-06-0415.39x
2026-06-0315.06x
2026-06-0215.31x
2026-06-0115.13x
2026-05-2914.17x
2026-05-2813.31x
2026-05-2713.12x
2026-05-2613.75x
2026-05-2213.75x
2026-05-2113.28x
2026-05-2013.34x
2026-05-1913.09x
2026-05-1812.97x
2026-05-1512.59x
2026-05-1412.49x
2026-05-1312.05x
2026-05-1211.65x
2026-05-1111.82x
2026-05-0811.68x
2026-05-0711.04x
2026-05-069.67x
2026-05-059.67x
2026-05-049.60x
2026-05-019.27x
2026-04-309.05x
2026-04-299.25x
2026-04-289.21x
2026-04-279.20x
2026-04-249.06x
2026-04-238.88x
2026-04-229.36x
2026-04-219.16x
2026-04-208.87x
2026-04-178.78x
2026-04-168.84x
2026-04-158.54x
2026-04-148.44x
2026-04-138.44x
2026-04-108.22x
2026-04-098.65x
2026-04-088.97x
2026-04-078.99x
2026-04-068.83x
2026-04-028.86x
2026-04-018.71x
2026-03-318.77x
2026-03-308.48x
2026-03-278.38x
2026-03-268.69x
2026-03-258.46x
2026-03-248.51x
2026-03-238.88x
2026-03-208.73x
2026-03-198.92x
2026-03-188.95x
2026-03-178.93x
2026-03-169.07x
2026-03-138.96x
2026-03-129.06x
2026-03-118.96x
2026-03-109.04x
2026-03-099.00x
2026-03-068.98x
2026-03-059.07x
2026-03-048.89x
2026-03-038.70x
2026-03-028.49x
2026-02-278.47x
2026-02-268.49x
2026-02-258.29x
2026-02-248.06x
2026-02-238.73x
2026-02-209.25x
2026-02-199.44x
2026-02-189.33x
2026-02-179.45x
2026-02-139.90x
2026-02-129.75x
2026-02-1110.17x
2026-02-109.90x
2026-02-099.94x
2026-02-069.57x
2026-02-059.12x
2026-02-049.38x
2026-02-039.17x
2026-02-029.40x
2026-01-309.40x
2026-01-299.43x
2026-01-289.49x
2026-01-279.45x
2026-01-269.61x
2026-01-239.44x
2026-01-228.97x
2026-01-218.75x
2026-01-208.71x
2026-01-168.70x
2026-01-158.82x
2026-01-148.82x
2026-01-139.05x
2026-01-129.09x
2026-01-099.16x
2026-01-089.02x
2026-01-079.25x
2026-01-069.06x
2026-01-059.01x
2026-01-029.00x
2025-12-319.18x
2025-12-309.28x
2025-12-299.34x
2025-12-269.43x
2025-12-249.39x
2025-12-239.33x
2025-12-229.45x
2025-12-199.28x
2025-12-189.22x
2025-12-179.17x
2025-12-169.54x
2025-12-159.43x
2025-12-129.51x
2025-12-119.54x
2025-12-109.44x
2025-12-099.66x
2025-12-089.66x
2025-12-0510.06x
2025-12-049.86x
2025-12-039.57x
2025-12-029.59x
2025-12-019.46x
2025-11-289.38x
2025-11-269.31x
2025-11-259.35x
2025-11-249.22x
2025-11-219.11x
2025-11-209.02x
2025-11-199.22x
2025-11-189.27x
2025-11-179.48x
2025-11-149.52x
2025-11-139.37x
2025-11-129.50x
2025-11-119.68x
2025-11-109.52x
2025-11-079.46x
2025-11-069.31x
2025-11-0510.14x
2025-11-0410.04x
2025-11-0310.32x
2025-10-3110.19x
2025-10-309.92x
2025-10-299.92x
2025-10-2810.12x
2025-10-2710.05x
2025-10-2410.09x
2025-10-2310.01x
2025-10-229.98x
2025-10-219.99x
2025-10-2010.00x
2025-10-179.83x
2025-10-169.79x
2025-10-159.84x
2025-10-149.78x
2025-10-139.92x
2025-10-109.78x
2025-10-0910.16x
2025-10-0810.20x
2025-10-0710.01x
2025-10-0610.19x
2025-10-0310.11x
2025-10-0210.17x
2025-10-0110.04x
2025-09-309.90x
2025-09-299.97x
2025-09-269.93x
2025-09-259.80x
2025-09-249.85x
2025-09-2310.05x
2025-09-2210.02x
2025-09-199.92x
2025-09-189.53x
2025-09-179.44x
2025-09-169.38x
2025-09-159.53x
2025-09-129.37x
2025-09-119.51x
2025-09-109.34x
2025-09-099.39x
2025-09-089.45x
2025-09-059.26x
2025-09-048.97x
2025-09-038.99x
2025-09-029.03x
2025-08-299.26x
2025-08-289.32x
2025-08-279.18x
2025-08-269.12x
2025-08-259.12x
2025-08-229.41x
2025-08-219.13x
2025-08-209.36x
2025-08-199.17x
2025-08-189.50x
2025-08-159.30x
2025-08-149.07x
2025-08-139.32x
2025-08-129.22x
2025-08-118.74x
2025-08-088.72x
2025-08-078.83x
2025-08-0611.79x
2025-08-0511.74x
2025-08-0412.04x
2025-08-0111.89x
2025-07-3112.21x
2025-07-3012.44x
2025-07-2912.83x
2025-07-2812.84x
2025-07-2512.83x
2025-07-2412.83x
2025-07-2312.86x
2025-07-2212.83x
2025-07-2113.10x
2025-07-1812.91x
2025-07-1712.85x
2025-07-1612.66x
2025-07-1512.85x
2025-07-1412.60x
2025-07-1112.10x
2025-07-1012.25x
2025-07-0913.19x
2025-07-0813.18x
2025-07-0713.06x
2025-07-0312.94x
2025-07-0212.50x
2025-07-0112.53x
2025-06-3012.95x
2025-06-2712.62x
2025-06-2612.71x
2025-06-2512.69x
2025-06-2412.78x
2025-06-2312.62x
2025-06-2012.20x
2025-06-1812.33x
2025-06-1712.59x
2025-06-1612.47x
2025-06-1312.33x
2025-06-1212.43x
2025-06-1112.48x
2025-06-1012.43x
2025-06-0912.49x
2025-06-0612.85x
2025-06-0512.67x
2025-06-0412.43x
2025-06-0312.59x
2025-06-0212.54x
2025-05-3012.45x
2025-05-2912.48x

Showing the most recent 260 of 4,164 data points. The chart above shows the full history.

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.

Sunnyvale, CA
14,556 employees
Technology / Software - Infrastructure
Sector
Technology
Industry
Software - Infrastructure
CEO
Ken Xie