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Fortinet, Inc. (FTNT)
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Fortinet, Inc. (FTNT) PB Ratio: 104.40

Is Fortinet, Inc.’s P/B ratio high or low?

Fortinet, Inc.'s P/B ratio of 104.40 is 77% below its 5-year average of 452.36, near the low end of its 5-year range (27.97–5587.21).

The P/B ratio for Fortinet, Inc. (FTNT) is 104.40. It is above its 12-month average by 79.04% (58.31).

FTNT PB Ratio Chart

FTNT PB Ratio
104.40+159.57% 1Y
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FTNT Average PB Ratio Chart

FTNT Current vs Average PB Ratio Chart

FTNT PB Ratio Metrics

PB RATIO

104.40

PB RATIO AVG TTM

58.31

PB RATIO AVG 3Y

457.53

PB RATIO AVG 5Y

452.36

PB RATIO AVG 10Y

204.88

PB RATIO AVG 15Y

133.63

PB RATIO AVG 20Y

123.30

CURRENT VS TTM AVG

+79.04%

CURRENT VS 3Y AVG

-77.18%

CURRENT VS 5Y AVG

-76.92%

CURRENT VS 10Y AVG

-49.04%

CURRENT VS 15Y AVG

-21.87%

CURRENT VS 20Y AVG

-15.33%

FTNT Competitors' PB Ratio

NAMEMARKET CAPPB RATIOTTM3Y5Y
Fortinet, Inc. (FTNT)$101.91B104.4058.31457.53452.36
Accenture plc (ACN)$104.93B3.404.886.797.84
Cadence Design Systems, Inc. (CDNS)$105.80B16.0116.8919.2218.47
Adobe Inc. (ADBE)$94.61B8.4311.4814.0114.50
ServiceNow, Inc. (NOW)$109.38B9.4013.9517.9821.48
Synopsys, Inc. (SNPS)$87.82B2.884.178.879.10
Snowflake Inc. (SNOW)$83.15B42.7131.2519.0116.45
Datadog, Inc. (DDOG)$81.03B20.8215.5717.9624.30
Intuit Inc. (INTU)$77.74B3.808.329.139.64
Cloudflare, Inc. (NET)$77.62B50.7451.8941.7340.43

P/B vs. its own history

At 104.40, P/B is richer than usual — richer than 91% of its 16-year range.

16-year low

4.71

median

12.70

16-year high

5587.21

cheaperricher

Book Value Analysis

P/B Ratio

104.40

Market Price / Book Value per Share

Fortinet, Inc. PB Ratio Formula & Definition

PB Ratio = Market Cap / Total Shareholders' Equity

The price-to-book ratio compares market capitalization to book value (shareholders' equity). Lower values can indicate a cheaper valuation relative to net assets.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Fortinet, Inc. PB Ratio FAQ

What is the P/B ratio for Fortinet, Inc. (FTNT)?
The P/B ratio for FTNT stock is 104.40.
Is Fortinet, Inc.'s P/B ratio high or low?
Fortinet, Inc.'s P/B ratio of 104.40 is 77% below its 5-year average of 452.36, near the low end of its 5-year range (27.97–5587.21).
What is the TTM average P/B ratio for Fortinet, Inc. (FTNT)?
The TTM average P/B ratio for FTNT stock is 58.31.
What is the 3Y average P/B ratio for Fortinet, Inc. (FTNT)?
The 3Y average P/B ratio for FTNT stock is 457.53.
What is the 5Y average P/B ratio for Fortinet, Inc. (FTNT)?
The 5Y average P/B ratio for FTNT stock is 452.36.
What is the 10Y average P/B ratio for Fortinet, Inc. (FTNT)?
The 10Y average P/B ratio for FTNT stock is 204.88.
What is the 15Y average P/B ratio for Fortinet, Inc. (FTNT)?
The 15Y average P/B ratio for FTNT stock is 133.63.
What is the 20Y average P/B ratio for Fortinet, Inc. (FTNT)?
The 20Y average P/B ratio for FTNT stock is 123.30.

Fortinet, Inc. PB Ratio History

DATEPB RATIO
2026-06-10104.40
2026-06-09103.87
2026-06-08107.36
2026-06-05108.59
2026-06-04112.33
2026-06-03109.94
2026-06-02111.72
2026-06-01110.43
2026-05-29103.55
2026-05-2897.34
2026-05-2796.02
2026-05-26100.54
2026-05-22100.52
2026-05-2197.16
2026-05-2097.57
2026-05-1995.80
2026-05-1894.94
2026-05-1592.15
2026-05-1491.46
2026-05-1388.33
2026-05-1285.46
2026-05-1186.64
2026-05-0885.61
2026-05-0781.03
2026-05-0654.37
2026-05-0554.35
2026-05-0453.94
2026-05-0152.16
2026-04-3050.96
2026-04-2952.05
2026-04-2851.81
2026-04-2751.78
2026-04-2450.98
2026-04-2350.02
2026-04-2252.64
2026-04-2151.53
2026-04-2049.93
2026-04-1749.47
2026-04-1649.81
2026-04-1548.14
2026-04-1447.57
2026-04-1347.59
2026-04-1046.36
2026-04-0948.75
2026-04-0850.48
2026-04-0750.60
2026-04-0649.74
2026-04-0249.88
2026-04-0149.05
2026-03-3149.40
2026-03-3047.78
2026-03-2747.27
2026-03-2648.98
2026-03-2547.68
2026-03-2447.96
2026-03-2350.03
2026-03-2049.20
2026-03-1950.24
2026-03-1850.40
2026-03-1750.27
2026-03-1651.07
2026-03-1350.43
2026-03-1251.02
2026-03-1150.46
2026-03-1050.89
2026-03-0950.66
2026-03-0650.57
2026-03-0551.03
2026-03-0450.04
2026-03-0349.02
2026-03-0247.86
2026-02-2747.77
2026-02-2647.87
2026-02-2546.75
2026-02-2445.47
2026-02-2379.21
2026-02-2083.82
2026-02-1985.57
2026-02-1884.54
2026-02-1785.59
2026-02-1389.65
2026-02-1288.28
2026-02-1192.01
2026-02-1089.61
2026-02-0990.03
2026-02-0686.71
2026-02-0582.70
2026-02-0484.99
2026-02-0383.09
2026-02-0285.17
2026-01-3085.14
2026-01-2985.40
2026-01-2886.00
2026-01-2785.61
2026-01-2687.04
2026-01-2385.54
2026-01-2281.33
2026-01-2179.37
2026-01-2079.06
2026-01-1678.98
2026-01-1579.96
2026-01-1480.04
2026-01-1382.07
2026-01-1282.42
2026-01-0983.00
2026-01-0881.78
2026-01-0783.84
2026-01-0682.19
2026-01-0581.66
2026-01-0281.60
2025-12-3183.20
2025-12-3084.14
2025-12-2984.68
2025-12-2685.45
2025-12-2485.06
2025-12-2384.51
2025-12-2285.64
2025-12-1984.07
2025-12-1883.56
2025-12-1783.17
2025-12-1686.41
2025-12-1585.41
2025-12-1286.15
2025-12-1186.41
2025-12-1085.50
2025-12-0987.49
2025-12-0887.52
2025-12-0591.07
2025-12-0489.25
2025-12-0386.71
2025-12-0286.90
2025-12-0185.73
2025-11-2885.00
2025-11-2684.40
2025-11-2584.73
2025-11-2483.58
2025-11-2182.63
2025-11-2081.77
2025-11-1983.54
2025-11-1883.98
2025-11-1785.85
2025-11-1486.24
2025-11-1384.90
2025-11-1286.06
2025-11-1187.65
2025-11-1086.21
2025-11-0785.70
2025-11-0684.39
2025-11-0532.34
2025-11-0432.05
2025-11-0332.91
2025-10-3132.50
2025-10-3031.66
2025-10-2931.67
2025-10-2832.29
2025-10-2732.07
2025-10-2432.17
2025-10-2331.94
2025-10-2231.84
2025-10-2131.88
2025-10-2031.91
2025-10-1731.38
2025-10-1631.26
2025-10-1531.43
2025-10-1431.24
2025-10-1331.66
2025-10-1031.23
2025-10-0932.41
2025-10-0832.51
2025-10-0731.93
2025-10-0632.48
2025-10-0332.26
2025-10-0232.45
2025-10-0132.03
2025-09-3031.62
2025-09-2931.83
2025-09-2631.71
2025-09-2531.29
2025-09-2431.44
2025-09-2332.07
2025-09-2231.97
2025-09-1931.67
2025-09-1830.46
2025-09-1730.19
2025-09-1630.00
2025-09-1530.46
2025-09-1229.96
2025-09-1130.42
2025-09-1029.89
2025-09-0930.02
2025-09-0830.22
2025-09-0529.64
2025-09-0428.74
2025-09-0328.80
2025-09-0228.93
2025-08-2929.62
2025-08-2829.82
2025-08-2729.38
2025-08-2629.20
2025-08-2529.20
2025-08-2230.09
2025-08-2129.24
2025-08-2029.94
2025-08-1929.37
2025-08-1830.37
2025-08-1529.75
2025-08-1429.05
2025-08-1329.83
2025-08-1229.51
2025-08-1128.04
2025-08-0827.97
2025-08-0728.32
2025-08-0638.22
2025-08-0538.07
2025-08-0439.00
2025-08-0138.53
2025-07-3139.53
2025-07-3040.25
2025-07-2941.46
2025-07-2841.51
2025-07-2541.48
2025-07-2441.46
2025-07-2341.58
2025-07-2241.48
2025-07-2142.32
2025-07-1841.72
2025-07-1741.52
2025-07-1640.94
2025-07-1541.53
2025-07-1440.75
2025-07-1139.20
2025-07-1039.65
2025-07-0942.60
2025-07-0842.56
2025-07-0742.21
2025-07-0341.81
2025-07-0240.45
2025-07-0140.54
2025-06-3041.84
2025-06-2740.80
2025-06-2641.10
2025-06-2541.03
2025-06-2441.32
2025-06-2340.82
2025-06-2039.51
2025-06-1839.90
2025-06-1740.71
2025-06-1640.35
2025-06-1339.90
2025-06-1240.23
2025-06-1140.37
2025-06-1040.22
2025-06-0940.40
2025-06-0641.53
2025-06-0540.96
2025-06-0440.22
2025-06-0340.71
2025-06-0240.55
2025-05-3040.28
2025-05-2940.38

Showing the most recent 260 of 3,789 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