Fortinet (FTNT) EV to CFO (2011 - 2026)
Fortinet's (FTNT) EV to CFO came in at 35.57 for Q3 2026, up 46.7% from 24.24 a year earlier and up 11.2% from the prior quarter.
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Analysis
Fortinet (FTNT) EV to CFO (2011 - 2026) Analysis & Trends
For FY2025, Fortinet's EV to CFO stood at 21.39, down 29.4% from FY2024.
- In prior years, Fortinet's EV to CFO was 30.29 in FY2024 (+39.2%), 21.76 in FY2023 (+4.6%), 20.81 in FY2022 (-44.0%) and 37.16 in FY2021 (+80.6%).
- The Q3 2026 figure stands as the highest quarterly EV to CFO since Q4 2021.
- On a year-over-year basis, EV to CFO increased in five of the last eight quarters, with growth averaging 10.1%.
- The strongest year-over-year quarter for EV to CFO in the past five years was Q4 2021, with growth of 80.6%; the weakest was Q4 2022, with a decline of 44.0%.
- According to Business Quant data, EV to CFO for the three prior quarters was 31.99 (Q2 2026), 20.21 (Q1 2026) and 21.39 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 240.12 Bn | 225.19 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 223.83 Bn | 204.23 Bn | 1.10 Bn |
| 3 | Snowflake | 96.36 Bn | 83.68 Bn | 1.04 Bn |
| 4 | Fortinet | 91.07 Bn | 75.32 Bn | 1.64 Bn |
| 5 | Datadog | 63.40 Bn | 43.95 Bn | 959.92 Mn |
| 6 | Zscaler | 33.67 Bn | 19.82 Bn | 689.22 Mn |
| 7 | Axon Enterprise | 33.28 Bn | 27.81 Bn | 546.45 Mn |
| 8 | Okta | 30.16 Bn | 20.25 Bn | 641.00 Mn |
| 9 | MongoDB | 24.79 Bn | 15.26 Bn | 569.77 Mn |
| 10 | Roku | 24.01 Bn | 14.03 Bn | 648.52 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 34.32 |
| 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 |
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();