Basis: Current FMP quote-based enterprise value / four-quarter operating income plus matched D&A. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 41.85x is in line with its estimated 5-year average of 40.36x, near the low end of its estimated 5-year range (25.01x–91.00x).
As of 2026-09-11T13:45:39.245Z. 25.43% above its estimated 12-month average of 33.37x.
Calculation as of: 2026-09-11T13:45:39.245Z.
Quote observation: 2026-09-11T13:45:11.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: c1888bd86d90bb7910e586314f1bd2a05757097c700734aae42124fa901b3d1e
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-09-10.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/EBITDA RATIO
41.85x
EV/EBITDA RATIO AVG TTM
33.37x
EV/EBITDA RATIO AVG 3Y
35.59x
EV/EBITDA RATIO AVG 5Y
40.36x
EV/EBITDA RATIO AVG 10Y
46.05x
EV/EBITDA RATIO AVG 15Y
46.59x
EV/EBITDA RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+25.43%
CURRENT VS 3Y AVG
+17.60%
CURRENT VS 5Y AVG
+3.69%
CURRENT VS 10Y AVG
-9.11%
CURRENT VS 15Y AVG
-10.17%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
26.02x
median of 156 covered companies
CURRENT VS SECTOR MEDIAN
+60.84%
vs the sector median at left
Fortinet, Inc.
Market Cap
$115.19B
EV/EBITDA Ratio
41.85x
TTM Avg
33.37x
3Y Avg
35.59x
5Y Avg
40.36x
Market Cap
$106.30B
EV/EBITDA Ratio
23.49x
TTM Avg
21.55x
3Y Avg
20.93x
5Y Avg
21.51x
Market Cap
$105.14B
EV/EBITDA Ratio
19.48x
TTM Avg
43.18x
3Y Avg
38.02x
5Y Avg
36.39x
Market Cap
$135.48B
EV/EBITDA Ratio
51.41x
TTM Avg
55.10x
3Y Avg
93.80x
5Y Avg
118.97x
Market Cap
$87.10B
EV/EBITDA Ratio
20.48x
TTM Avg
16.22x
3Y Avg
10.78x
5Y Avg
8.75x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Fortinet, Inc. (FTNT) | $115.19B | 41.85x | 33.37x | 35.59x | 40.36x |
| Snowflake Inc. (SNOW)vs › | $112.10B | N/A | N/A | N/A | N/A |
| Cloudflare, Inc. (NET)vs › | $110.21B | N/A | N/A | N/A | N/A |
| Accenture plc (ACN)vs › | $109.51B | 8.53x | 10.65x | 16.34x | 17.58x |
| Automatic Data Processing, Inc. (ADP)vs › | $106.30B | 23.49x | 21.55x | 20.93x | 21.51x |
| AppLovin Corporation (APP)vs › | $105.14B | 19.48x | 43.18x | 38.02x | 36.39x |
| Adobe Inc. (ADBE)vs › | $96.89B | N/A | 12.62x | 23.47x | 26.45x |
| ServiceNow, Inc. (NOW)vs › | $135.48B | 51.41x | 55.10x | 93.80x | 118.97x |
| ASE Technology Holding Co., Ltd. (ASX)vs › | $87.10B | 20.48x | 16.22x | 10.78x | 8.75x |
| Intuit Inc. (INTU)vs › | $86.21B | 13.35x | 22.34x | 34.58x | 37.21x |
At 41.9, EV/EBITDA is near its estimated 17-year median — higher than 41% of readings in its estimated 17-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 17-year low
24.3
median
44.6
estimated 17-year high
133.2
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-09-10 | 42.80x |
| 2026-09-09 | 42.36x |
| 2026-09-08 | 42.42x |
| 2026-09-04 | 42.10x |
| 2026-09-03 | 42.12x |
| 2026-09-02 | 41.62x |
| 2026-09-01 | 43.63x |
| 2026-08-31 | 46.13x |
| 2026-08-28 | 44.77x |
| 2026-08-27 | 46.64x |
| 2026-08-26 | 42.44x |
| 2026-08-25 | 41.38x |
| 2026-08-24 | 40.92x |
| 2026-08-21 | 41.33x |
| 2026-08-20 | 40.59x |
| 2026-08-19 | 41.15x |
| 2026-08-18 | 42.57x |
| 2026-08-17 | 41.98x |
| 2026-08-14 | 43.12x |
| 2026-08-13 | 44.62x |
| 2026-08-12 | 43.35x |
| 2026-08-11 | 43.64x |
| 2026-08-10 | 44.28x |
| 2026-08-07 | 43.02x |
| 2026-08-06 | 43.15x |
| 2026-08-05 | 44.26x |
| 2026-08-04 | 45.40x |
| 2026-08-03 | 44.00x |
| 2026-07-31 | 43.66x |
| 2026-07-30 | 45.90x |
| 2026-07-29 | 45.59x |
| 2026-07-28 | 44.61x |
| 2026-07-27 | 45.34x |
| 2026-07-24 | 45.34x |
| 2026-07-23 | 45.08x |
| 2026-07-22 | 46.15x |
| 2026-07-21 | 47.07x |
| 2026-07-20 | 47.75x |
| 2026-07-17 | 48.13x |
| 2026-07-16 | 47.88x |
| 2026-07-15 | 49.00x |
| 2026-07-14 | 49.70x |
| 2026-07-13 | 47.83x |
| 2026-07-10 | 46.89x |
| 2026-07-09 | 48.77x |
| 2026-07-08 | 46.65x |
| 2026-07-07 | 47.24x |
| 2026-07-06 | 48.35x |
| 2026-07-02 | 46.51x |
| 2026-07-01 | 47.33x |
| 2026-06-30 | 45.71x |
| 2026-06-29 | 46.26x |
| 2026-06-26 | 45.03x |
| 2026-06-25 | 44.60x |
| 2026-06-24 | 43.19x |
| 2026-06-23 | 44.02x |
| 2026-06-22 | 43.23x |
| 2026-06-18 | 43.03x |
| 2026-06-17 | 42.85x |
| 2026-06-16 | 43.72x |
| 2026-06-15 | 44.47x |
| 2026-06-12 | 43.50x |
| 2026-06-11 | 43.13x |
| 2026-06-10 | 41.26x |
| 2026-06-09 | 41.11x |
| 2026-06-08 | 42.52x |
| 2026-06-05 | 43.01x |
| 2026-06-04 | 44.52x |
| 2026-06-03 | 43.56x |
| 2026-06-02 | 44.28x |
| 2026-06-01 | 43.76x |
| 2026-05-29 | 40.98x |
| 2026-05-28 | 38.49x |
| 2026-05-27 | 37.95x |
| 2026-05-26 | 39.77x |
| 2026-05-22 | 39.76x |
| 2026-05-21 | 38.41x |
| 2026-05-20 | 38.58x |
| 2026-05-19 | 37.86x |
| 2026-05-18 | 37.52x |
| 2026-05-15 | 36.40x |
| 2026-05-14 | 36.12x |
| 2026-05-13 | 34.86x |
| 2026-05-12 | 33.70x |
| 2026-05-11 | 34.18x |
| 2026-05-08 | 33.76x |
| 2026-05-07 | 35.48x |
| 2026-05-06 | 29.45x |
| 2026-05-05 | 29.44x |
| 2026-05-04 | 29.21x |
| 2026-05-01 | 28.22x |
| 2026-04-30 | 27.56x |
| 2026-04-29 | 28.16x |
| 2026-04-28 | 28.03x |
| 2026-04-27 | 28.01x |
| 2026-04-24 | 27.57x |
| 2026-04-23 | 27.04x |
| 2026-04-22 | 28.49x |
| 2026-04-21 | 27.88x |
| 2026-04-20 | 26.99x |
| 2026-04-17 | 26.73x |
| 2026-04-16 | 26.92x |
| 2026-04-15 | 25.99x |
| 2026-04-14 | 25.68x |
| 2026-04-13 | 25.69x |
| 2026-04-10 | 25.01x |
| 2026-04-09 | 26.34x |
| 2026-04-08 | 27.29x |
| 2026-04-07 | 27.36x |
| 2026-04-06 | 26.88x |
| 2026-04-02 | 26.96x |
| 2026-04-01 | 26.50x |
| 2026-03-31 | 26.69x |
| 2026-03-30 | 25.80x |
| 2026-03-27 | 25.51x |
| 2026-03-26 | 26.46x |
| 2026-03-25 | 25.74x |
| 2026-03-24 | 25.89x |
| 2026-03-23 | 27.04x |
| 2026-03-20 | 26.58x |
| 2026-03-19 | 27.16x |
| 2026-03-18 | 27.25x |
| 2026-03-17 | 27.17x |
| 2026-03-16 | 27.62x |
| 2026-03-13 | 27.27x |
| 2026-03-12 | 27.59x |
| 2026-03-11 | 27.28x |
| 2026-03-10 | 27.52x |
| 2026-03-09 | 27.39x |
| 2026-03-06 | 27.34x |
| 2026-03-05 | 27.59x |
| 2026-03-04 | 27.05x |
| 2026-03-03 | 26.48x |
| 2026-03-02 | 25.84x |
| 2026-02-27 | 25.79x |
| 2026-02-26 | 25.85x |
| 2026-02-25 | 25.23x |
| 2026-02-24 | 26.14x |
| 2026-02-23 | 26.27x |
| 2026-02-20 | 27.83x |
| 2026-02-19 | 28.42x |
| 2026-02-18 | 28.07x |
| 2026-02-17 | 28.43x |
| 2026-02-13 | 29.79x |
| 2026-02-12 | 29.33x |
| 2026-02-11 | 30.59x |
| 2026-02-10 | 29.78x |
| 2026-02-09 | 29.93x |
| 2026-02-06 | 28.80x |
| 2026-02-05 | 27.45x |
| 2026-02-04 | 28.22x |
| 2026-02-03 | 27.58x |
| 2026-02-02 | 28.28x |
| 2026-01-30 | 28.27x |
| 2026-01-29 | 28.36x |
| 2026-01-28 | 28.56x |
| 2026-01-27 | 28.43x |
| 2026-01-26 | 28.91x |
| 2026-01-23 | 28.41x |
| 2026-01-22 | 26.99x |
| 2026-01-21 | 26.33x |
| 2026-01-20 | 26.22x |
| 2026-01-16 | 26.19x |
| 2026-01-15 | 26.53x |
| 2026-01-14 | 26.55x |
| 2026-01-13 | 27.24x |
| 2026-01-12 | 27.35x |
| 2026-01-09 | 27.55x |
| 2026-01-08 | 27.14x |
| 2026-01-07 | 27.84x |
| 2026-01-06 | 27.28x |
| 2026-01-05 | 27.10x |
| 2026-01-02 | 27.08x |
| 2025-12-31 | 27.62x |
| 2025-12-30 | 27.94x |
| 2025-12-29 | 28.12x |
| 2025-12-26 | 28.38x |
| 2025-12-24 | 28.25x |
| 2025-12-23 | 28.06x |
| 2025-12-22 | 28.44x |
| 2025-12-19 | 27.91x |
| 2025-12-18 | 27.74x |
| 2025-12-17 | 27.61x |
| 2025-12-16 | 28.70x |
| 2025-12-15 | 28.37x |
| 2025-12-12 | 28.61x |
| 2025-12-11 | 28.70x |
| 2025-12-10 | 28.39x |
| 2025-12-09 | 29.07x |
| 2025-12-08 | 29.08x |
| 2025-12-05 | 30.28x |
| 2025-12-04 | 29.66x |
| 2025-12-03 | 28.80x |
| 2025-12-02 | 28.87x |
| 2025-12-01 | 28.47x |
| 2025-11-28 | 28.23x |
| 2025-11-26 | 28.02x |
| 2025-11-25 | 28.14x |
| 2025-11-24 | 27.75x |
| 2025-11-21 | 27.43x |
| 2025-11-20 | 27.14x |
| 2025-11-19 | 27.73x |
| 2025-11-18 | 27.88x |
| 2025-11-17 | 28.51x |
| 2025-11-14 | 28.65x |
| 2025-11-13 | 28.19x |
| 2025-11-12 | 28.59x |
| 2025-11-11 | 29.12x |
| 2025-11-10 | 28.63x |
| 2025-11-07 | 28.46x |
| 2025-11-06 | 28.66x |
| 2025-11-05 | 30.67x |
| 2025-11-04 | 30.39x |
| 2025-11-03 | 31.24x |
| 2025-10-31 | 30.84x |
| 2025-10-30 | 30.01x |
| 2025-10-29 | 30.02x |
| 2025-10-28 | 30.63x |
| 2025-10-27 | 30.42x |
| 2025-10-24 | 30.52x |
| 2025-10-23 | 30.28x |
| 2025-10-22 | 30.18x |
| 2025-10-21 | 30.23x |
| 2025-10-20 | 30.26x |
| 2025-10-17 | 29.73x |
| 2025-10-16 | 29.62x |
| 2025-10-15 | 29.78x |
| 2025-10-14 | 29.60x |
| 2025-10-13 | 30.01x |
| 2025-10-10 | 29.58x |
| 2025-10-09 | 30.75x |
| 2025-10-08 | 30.85x |
| 2025-10-07 | 30.28x |
| 2025-10-06 | 30.82x |
| 2025-10-03 | 30.60x |
| 2025-10-02 | 30.79x |
| 2025-10-01 | 30.38x |
| 2025-09-30 | 29.97x |
| 2025-09-29 | 30.18x |
| 2025-09-26 | 30.06x |
| 2025-09-25 | 29.65x |
| 2025-09-24 | 29.79x |
| 2025-09-23 | 30.41x |
| 2025-09-22 | 30.31x |
| 2025-09-19 | 30.02x |
| 2025-09-18 | 28.83x |
| 2025-09-17 | 28.57x |
| 2025-09-16 | 28.38x |
| 2025-09-15 | 28.83x |
| 2025-09-12 | 28.34x |
| 2025-09-11 | 28.79x |
| 2025-09-10 | 28.27x |
| 2025-09-09 | 28.40x |
| 2025-09-08 | 28.59x |
| 2025-09-05 | 28.03x |
| 2025-09-04 | 27.14x |
| 2025-09-03 | 27.19x |
| 2025-09-02 | 27.32x |
| 2025-08-29 | 28.00x |
| 2025-08-28 | 28.20x |
Showing the most recent 260 of 4,227 data points. The chart above shows the full history.
