Fortinet (FTNT) Price to FCF (2011 - 2026)
Fortinet's Price to FCF came in at 36.16 for Q2 2026, down 9.2% from 39.82 a year earlier but up 46.8% from the prior quarter.
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Analysis
Fortinet (FTNT) Price to FCF (2011 - 2026) Analysis & Trends
For FY2025, Fortinet's Price to FCF was 26.51, down 31.3% from FY2024.
- Going back by year, Price to FCF was 38.56 in FY2024 (+49.9%), 25.73 in FY2023 (-2.4%), 26.36 in FY2022 (-45.5%) and 48.37 in FY2021 (+91.9%).
- The five-year range for quarterly Price to FCF is 22.07 (Q3 2023) to 48.37 (Q4 2021).
- Year-over-year, Price to FCF has declined for four consecutive quarters, with growth averaging 9.8% over the last eight quarters.
- The fastest year-over-year change in Price to FCF over five years came in Q4 2021 (growth of 91.9%), and the weakest in Q4 2022 (a decline of 45.5%).
- Business Quant data shows FTNT's Price to FCF at 24.63 (Q1 2026), 26.51 (Q4 2025) and 30.79 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 255.53 Bn | 240.60 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 230.03 Bn | 210.43 Bn | 1.10 Bn |
| 3 | Fortinet | 123.13 Bn | 109.06 Bn | 1.64 Bn |
| 4 | Snowflake | 107.35 Bn | 94.67 Bn | 1.04 Bn |
| 5 | Datadog | 87.69 Bn | 69.33 Bn | 881.34 Mn |
| 6 | Zscaler | 32.63 Bn | 18.74 Bn | - |
| 7 | Okta | 32.61 Bn | 22.70 Bn | 641.00 Mn |
| 8 | Axon Enterprise | 32.22 Bn | 26.75 Bn | 546.45 Mn |
| 9 | MongoDB | 26.93 Bn | 17.40 Bn | 569.77 Mn |
| 10 | F5 | 24.99 Bn | 19.40 Bn | 711.51 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 36.16 |
| Mar 31, 2026 | 24.63 |
| Dec 31, 2025 | 26.51 |
| Sep 30, 2025 | 30.79 |
| Jun 30, 2025 | 39.82 |
| Mar 31, 2025 | 35.81 |
| Dec 31, 2024 | 38.56 |
| Sep 30, 2024 | 35.69 |
| Jun 30, 2024 | 29.27 |
| Mar 31, 2024 | 30.80 |
| Dec 31, 2023 | 25.73 |
| Sep 30, 2023 | 22.07 |
| Jun 30, 2023 | 30.02 |
| Mar 31, 2023 | 28.59 |
| Dec 31, 2022 | 26.36 |
| Sep 30, 2022 | 32.82 |
| Jun 30, 2022 | 40.47 |
| Mar 31, 2022 | 45.14 |
| Dec 31, 2021 | 48.37 |
| Sep 30, 2021 | 38.10 |
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();