Fortinet (FTNT) Price to FCF (2011 - 2026)
Fortinet (FTNT) posted Price to FCF of 116.71 for Q2 2026, up 95.84% on a QoQ basis from 59.6 in Q1 2026, and down 53.66% year-over-year from 251.83 in Q2 2025.
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Analysis
Fortinet (FTNT) Price to FCF (2011 - 2026) Analysis & Trends
Fortinet has reported Price to FCF for 17 years, with the latest figure at 116.71 in Q2 2026.
- On a quarterly basis, Price to FCF fell 53.66% year-over-year to 116.71 in Q2 2026; TTM through Jun 2026 was 35.96, a 8.03% decrease from a year earlier, with the FY2025 full-year figure at 26.51, down 31.26% from the prior year.
- Price to FCF was 116.71 for Q2 2026 at Fortinet, up from 59.6 in the prior quarter.
- The five-year high for Price to FCF was 270.28 in Q4 2023, with the low at 59.6 in Q1 2026.
- Average Price to FCF over 5 years is 130.81, with a median of 105.37 recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: Price to FCF tumbled 71.56% in 2022, then jumped 251.71% in 2023.
- Over 5 years, Price to FCF stood at 76.85 in 2022, then surged by 251.71% to 270.28 in 2023, then fell by 29.44% to 190.7 in 2024, then sank by 46.42% to 102.19 in 2025, then grew by 14.21% to 116.71 in 2026.
- The last three Price to FCF figures came in at 116.71 (Q2 2026), 59.6 (Q1 2026), and 102.19 (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 | 35.96 |
| Mar 31, 2026 | 24.09 |
| Dec 31, 2025 | 25.88 |
| Sep 30, 2025 | 29.99 |
| Jun 30, 2025 | 39.10 |
| Mar 31, 2025 | 35.81 |
| Dec 31, 2024 | 38.56 |
| Sep 30, 2024 | 35.69 |
| Jun 30, 2024 | 28.75 |
| Mar 31, 2024 | 29.85 |
| Dec 31, 2023 | 24.95 |
| Sep 30, 2023 | 21.51 |
| Jun 30, 2023 | 29.65 |
| Mar 31, 2023 | 28.59 |
| Dec 31, 2022 | 26.36 |
| Sep 30, 2022 | 32.82 |
| Jun 30, 2022 | 39.35 |
| Mar 31, 2022 | 44.01 |
| Dec 31, 2021 | 47.14 |
| Sep 30, 2021 | 37.17 |
API Access
Fortinet Price to FCF 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=price-to-fcf&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-fcf", "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=price-to-fcf&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();