Fortinet (FTNT) EV to CFO (2011 - 2026)
Fortinet (FTNT) posted EV to CFO of 104.09 for Q2 2026, up 97.77% on a QoQ basis from 52.63 in Q1 2026, and down 38.41% year-over-year from 169.01 in Q2 2025.
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Analysis
Fortinet (FTNT) EV to CFO (2011 - 2026) Analysis & Trends
Fortinet has reported EV to CFO for 17 years, with the latest figure at 104.09 in Q2 2026.
- On a quarterly basis, EV to CFO fell 38.41% year-over-year to 104.09 in Q2 2026; TTM through Jun 2026 was 31.99, a 0.55% increase from a year earlier, with the FY2025 full-year figure at 21.39, down 29.38% from the prior year.
- EV to CFO was 104.09 for Q2 2026 at Fortinet, up from 52.63 in the prior quarter.
- The five-year high for EV to CFO was 219.73 in Q4 2023, with the low at 52.63 in Q1 2026.
- Average EV to CFO over 5 years is 105.16, with a median of 91.11 recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: EV to CFO tumbled 55.1% in 2022, then soared 222.13% in 2023.
- Over 5 years, EV to CFO stood at 68.21 in 2022, then jumped by 222.13% to 219.73 in 2023, then plunged by 34.82% to 143.22 in 2024, then sank by 37.61% to 89.36 in 2025, then gained by 16.49% to 104.09 in 2026.
- The last three EV to CFO figures came in at 104.09 (Q2 2026), 52.63 (Q1 2026), and 89.36 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 31.99 |
| Mar 31, 2026 | 20.21 |
| Dec 31, 2025 | 21.39 |
| Sep 30, 2025 | 24.24 |
| Jun 30, 2025 | 31.81 |
| Mar 31, 2025 | 30.23 |
| Dec 31, 2024 | 30.29 |
| Sep 30, 2024 | 28.26 |
| Jun 30, 2024 | 22.32 |
| Mar 31, 2024 | 23.53 |
| Dec 31, 2023 | 21.76 |
| Sep 30, 2023 | 18.66 |
| Jun 30, 2023 | 25.45 |
| Mar 31, 2023 | 24.49 |
| Dec 31, 2022 | 20.81 |
| Sep 30, 2022 | 23.34 |
| Jun 30, 2022 | 28.88 |
| Mar 31, 2022 | 33.35 |
| Dec 31, 2021 | 37.16 |
| Sep 30, 2021 | 31.24 |
API Access
Fortinet EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "FTNT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();