Fortinet (FTNT) EV to EBITDA (2011 - 2026)
Fortinet (FTNT) posted EV to EBITDA of 157.59 for Q2 2026, up 61.24% on a QoQ basis from 97.74 in Q1 2026, and down 5.5% year-over-year from 166.76 in Q2 2025.
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Analysis
Fortinet (FTNT) EV to EBITDA (2011 - 2026) Analysis & Trends
Fortinet has reported EV to EBITDA for 17 years, with the latest figure at 157.59 in Q2 2026.
- On a quarterly basis, EV to EBITDA fell 5.5% year-over-year to 157.59 in Q2 2026; TTM through Jun 2026 was 44.48, a 13.96% increase from a year earlier, with the FY2025 full-year figure at 26.58, down 29.91% from the prior year.
- EV to EBITDA was 157.59 for Q2 2026 at Fortinet, up from 97.74 in the prior quarter.
- The five-year high for EV to EBITDA was 348.93 in Q1 2022, with the low at 88.59 in Q4 2025.
- Average EV to EBITDA over 5 years is 149.86, with a median of 138.92 recorded in 2022.
- The sharpest annual moves came in 2022 and 2025: EV to EBITDA slumped 61.18% in 2022, then surged 70.58% in 2025.
- Over 5 years, EV to EBITDA stood at 100.68 in 2022, then grew by 8.56% to 109.29 in 2023, then rose by 9.01% to 119.14 in 2024, then retreated by 25.65% to 88.59 in 2025, then surged by 77.89% to 157.59 in 2026.
- The last three EV to EBITDA figures came in at 157.59 (Q2 2026), 97.74 (Q1 2026), and 88.59 (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 | 36.59 |
| Mar 31, 2026 | 20.85 |
| Dec 31, 2025 | 21.54 |
| Sep 30, 2025 | 23.71 |
| Jun 30, 2025 | 31.76 |
| Mar 31, 2025 | 29.28 |
| Dec 31, 2024 | 30.81 |
| Sep 30, 2024 | 27.57 |
| Jun 30, 2024 | 23.15 |
| Mar 31, 2024 | 29.26 |
| Dec 31, 2023 | 25.99 |
| Sep 30, 2023 | 26.85 |
| Jun 30, 2023 | 36.70 |
| Mar 31, 2023 | 34.42 |
| Dec 31, 2022 | 27.77 |
| Sep 30, 2022 | 32.09 |
| Jun 30, 2022 | 41.74 |
| Mar 31, 2022 | 54.82 |
| Dec 31, 2021 | 61.19 |
| Sep 30, 2021 | 52.84 |
API Access
Fortinet EV to EBITDA 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-ebitda&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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-ebitda&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();