Fortinet, Inc. (FTNT)
Computer Peripheral Equipment, NEC
Latest Price
$170.18
TTM P/E
60.13
Normalized P/E
77.99
Div Yield
--
Book Value
2.11
P/B Ratio
80.74
Valuation metrics
adjust assumptions →EPS: $2.42
Book value / share: $1.67
Formula: √(22.5 × EPS × BVPS)
Graham Number
$9.52
94% downside
Norm. op. income: $970M (median of 7yr)
Tax rate: 11%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$15.38
91% downside
Base FCF: $1.7B (median of recent 5yr)
Growth: 20%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$123.75
27% downside
EPS: $2.42
Target P/E: 78×
Formula: EPS × P/E
P/E Fair Value
$188.76
+11% upside
Institutional Ownership
69.1% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 62.24M | $9.56B | 8.48% | +273.5K | 2026-06-30 |
| VANGUARD CAPITAL MANAGEMENT LLC | 40.66M | $6.25B | 5.54% | -- | 2026-06-30 |
| STATE STREET CORP | 29.63M | $4.55B | 4.04% | +701.0K | 2026-06-30 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 24.84M | $3.82B | 3.39% | -- | 2026-06-30 |
| Invesco Ltd. | 24.62M | $3.78B | 3.36% | +14.62M | 2026-06-30 |
| GEODE CAPITAL MANAGEMENT, LLC | 17.44M | $2.68B | 2.38% | -22.0K | 2026-06-30 |
| NORGES BANK | 12.45M | $1.91B | 1.70% | -2.07M | 2026-06-30 |
| FIRST TRUST ADVISORS LP | 10.82M | $1.66B | 1.47% | -690.4K | 2026-06-30 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 10.13M | $1.55B | 1.38% | +476.3K | 2026-06-30 |
| Bank of New York Mellon Corp | 9.33M | $1.43B | 1.27% | -4.01M | 2026-06-30 |