Fortinet, Inc. (FTNT) – Potential leader in cybersecurity industry

in , , on November 2, 2023

Fortinet, Inc. (FTNT) (Q2FY23)

Stock Performance: Fortinet stock price showed a downtrend in the past 3-month period and gave negative returns of -26%. The price increased by 5% in the past 1 year. It had a 52-week high of $81.24 and a 52-week low is $42.61.

Quarter Performance: In Q2FY23, FTNT’s revenue increased by 26% to $1.3bn from $1bn in Q2FY22 and the COGS increased by 18% to $295.8mn from $250.8mn in the same period

Guidance: For Q3FY23, FTNT expects billings in the range of $1.56bn to $1.62bn, which at the midpoint represents growth of 13%. Revenue in the range of $1.315bn to $1.375bn, which at the midpoint represents growth of 17%. Non-GAAP gross margin of 75.5% to 76.5%. Non-GAAP operating margin of 24.5% to 25.5%.


In recent quarterly wins, Fortinet’s robust and integrated platform demonstrated its strength. Notably, a global pharmaceutical leader made an eight-figure investment in Fortinet’s cybersecurity fabric, including OT-aware secure networking and AIOps, recognizing the shift towards a platform-based security approach.

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– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance


Stock Price Performance

Crispidea Coverage

No of Pages: 38

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Release Information

  • Price


  • Released

    November 2, 2023

  • Last Updated

    November 2, 2023