FTNT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $184.13
Market Cap (MRQ) $135.08B
P/E (TTM) 65.1
EPS (TTM) $2.83
Revenue (TTM) $7.53B
ROE (TTM) 117.4%
Debt/Equity (MRQ) 0.3
52W Range $74–$185

FTNT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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Stock splits 2
Ex-date Split Type
June 23, 2022 5-for-1 Forward
June 2, 2011 2-for-1 Forward

About Fortinet, Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Fortinet, Inc. is an American cybersecurity company headquartered in Sunnyvale, California. It develops and sells security products including firewalls, endpoint security and intrusion detection systems. Fortinet has offices in the US, Canada, and UK.

Founded in 2000 by brothers Ken Xie and Michael Xie, the company's first and main product was FortiGate, a physical firewall. The company later added wireless access points, sandbox and messaging security. The company went public in November 2009.

History

Early history

In 2000, Ken Xie and his brother Michael Xie co-founded Appligation, Inc., which they renamed ApSecure and ultimately Fortinet (from the phrase "Fortified Networks"). Fortinet introduced its first product, FortiGate, in 2002, followed by anti-spam and anti-virus software.

The company raised $13 million in private funding from 2000 to early 2003. Fortinet's first channel program was established in October 2003. The company began distributing its products in Canada in December 2003 and in the UK in February 2004. By 2004, Fortinet had offices in Asia, Europe, and North America.

Growth and expansion

Fortinet became profitable in the third quarter of 2008. According to market research firm IDC, by November 2009, Fortinet held over 15 percent of the unified threat management market. Also in 2009, CRN Magazine's survey-based annual report card placed Fortinet first in network security hardware, up from seventh in 2007.

In November 2009, Fortinet had an initial public offering, opening on the NASDAQ Global Market under the ticker symbol FTNT. By the end of the first day of trading, the company had raised $156 million. The company later became listed on the NASDAQ Global Select Market, and became a component of the NASDAQ-100 index.

By 2010, Fortinet had $324 million in annual revenues and held the largest share of the unified threat management market according to IDC.

Recent history

In July 2014, Fortinet announced a technical certification program called the Network Security Expert (NSE) program. In March 2016, Fortinet launched a Network Security Academy to help fill open cybersecurity jobs in the U.S. Fortinet donated equipment and provided information to universities to help train students for jobs in the field. Also in 2016, Fortinet launched a program called FortiVet to recruit military veterans for cybersecurity jobs.

In January 2017, it was announced that Philip Quade, a former member of the NSA, would become the company's chief information security officer.

In 2019, Fortinet's FortiGate SD-WAN and Next Generation Firewall received a "Recommended" rating from NSS Labs.

In September 2021, Fortinet pledged to train one million people in support of President Joe Biden's call to action to address the talent shortage in American cybersecurity.

In March 2022, Fortinet announced the termination of operations in Russia. The company has stopped all sales, support, and professional services within Russia.

The same year, NetworkWorld reported that Fortinet had introduced AI and ML-based security services utilizing telemetry from its network.

In June 2025, Fortinet was added to Investor's Business Daily's Big Cap 20 list of top-rated large-cap growth stocks.

Acquisitions

In 2008, the company acquired the intellectual property of IPLocks, a database security and auditing company.

In August 2009, Fortinet acquired the intellectual property and other assets of Woven Systems, an Ethernet switching company.

In December 2012, Fortinet acquired app-hosting service XDN (formerly known as 3Crowd)

In 2013 Fortinet acquired Coyote Point, a developer of hardware load balancers.

In 2015 Fortinet acquired Wi-Fi hardware company Meru Networks.

In June 2016, Fortinet acquired IT security, monitoring, and analytics software vendor AccelOps.

In June 2018, Fortinet acquired Bradford Networks, a maker of access control and IoT security solutions.

In October 2018, Fortinet acquired ZoneFox, a threat analytics company.

In late 2019, Fortinet acquired enSilo and CyberSponse.

In 2020, Fortinet acquired SASE cloud provider OPAQ Networks, and automated incident management company Panopta.

In March 2021, Fortinet acquired cloud and network security firm ShieldX.

In July 2021, Fortinet acquired application security company Sken.Ai to offer continuous application security testing.

In June 2024, Fortinet acquired Lacework, a data-driven cloud security company for an undisclosed amount.

In August 2024, Fortinet acquired Next DLP, a cloud based DLP provider company for an undisclosed amount.

In 2025, Fortinet acquired Everest, an Indian company focus in WIFI access points for high density environments.

Products and research

Products

Fortinet released its first product, FortiGate, a firewall, in 2002, followed by anti-spam and anti-virus software.

As functions like anti-spam were added, they were made available in a single product along with the firewall and other functions. FortiGate was updated later to use application-specific integrated circuit (ASIC) architecture. The company has used ASIC in several of its products, including to support its SD-WAN features.

Initially, FortiGate was a physical, rack-mounted product but later became available as a virtual appliance that could run on virtualization platforms such as VMware vSphere.

In April 2016, Fortinet began building its Security Fabric architecture so multiple network security products could communicate as one platform. Later that year, the company added Security Information and Event Management (SIEM) products. In September 2016, the company announced it would integrate the SIEM products with the security systems of other vendors.

In 2017, Fortinet announced the addition of switches, access points, analyzers, sandboxes and cloud capabilities to the Security Fabric, in addition to endpoints and firewalls. Later in 2017, Fortinet created a standalone subsidiary, Fortinet Federal, to develop cybersecurity products for government agencies. Fortinet has received security effectiveness certifications through NSS Labs.

In 2019, Fortinet grew to 21,000 WAN edge customers, according to a Gartner report.

In February 2020, Fortinet released FortiAI, a threat-detection program that uses artificial intelligence. In July 2020, Fortinet launched multi-cloud SD-WAN. That year, BT Security selected Fortinet and other Threat Alliance members as Critical Partners.

Vulnerabilities and credential leaks

In September 2021, almost 500,000 login names and passwords for Fortinet VPN devices were published on a hacking forum. The credentials were allegedly scraped from devices vulnerable to a 2018 exploit (CVE-2018-13379).

In January 2025, the credentials and configuration files of over 15,000 FortiGate devices were leaked on a hacking forum. The data is believed to have been obtained from devices vulnerable to a 2022 exploit (CVE-2022–40684).

In November 2025, a critical vulnerability (CVE-2025-64446, 9.1 CVSS) became public affecting FortiWeb Web Application Firewall. The vulnerability allowed attackers to gain full control over the device by exploiting a path traversal vulnerability combined with an authentication bypass.

In June 2026, security researcher Volodymyr "Bob" Diachenko of SecurityDiscovery.com reported that he had gained access to a threat actor's infrastructure containing credentials for about 74,000 internet-facing FortiGate firewalls and VPN gateways across 194 countries, associated with 21,632 domains; the dataset was dubbed "FortiBleed". According to researchers, a Russian-speaking, financially motivated group sprayed FortiGate login endpoints with password combinations, intercepted SSL VPN authentication hashes and cracked them on a 45-GPU cluster, then used the recovered passwords to move into victims' internal networks, including Active Directory environments. Hudson Rock said the affected organizations included large corporations, government agencies and a Turkish NATO defense contractor from which classified documents had been exfiltrated. The cybersecurity firm SOCRadar later raised its estimate to 86,644 affected devices and linked the operation's infrastructure to the Lynx and INC ransomware groups. The US Cybersecurity and Infrastructure Security Agency, the UK National Cyber Security Centre and the Australian Cyber Security Centre issued advisories urging affected organizations to reset credentials and enable multi-factor authentication. Fortinet stated that the activity did not involve a new vulnerability, attributing it to the reuse of credentials from earlier incidents and to brute-force attacks against devices with weak passwords and no multi-factor authentication.

Cybersecurity research

In 2005, Fortinet created the FortiGuard Labs internal security research team.

By 2014, Fortinet had four research and development centers in Asia, as well as others in the US, Canada and France.

In March 2014, Fortinet founded the Cyber Threat Alliance (CTA) with Palo Alto Networks in order to share security threat data across vendors. It was later joined by McAfee and Symantec. In 2015, the CTA published a white paper on the CryptoWall ransomware, which detailed how attackers obtained $325 million through ransoms paid by victims to regain access to their files.

In April 2015, Fortinet provided threat intelligence to Interpol in order to help apprehend the ringleader of several online scams based in Nigeria. The scams, which resulted in compromise of business emails and CEO fraud, had cost one business over $15 million. The following year, in March 2016, Fortinet and Cisco joined NATO in a data-sharing agreement to improve their information security capabilities.

Fortinet researchers discovered a spyware that scammed victims by impersonating the IRS. Also in 2017, researchers helped identify malware, called Rootnik, and ransomware, called MacRansom, that targeted Android and MacOS systems respectively.

Controversies

In May 2004, Trend Micro filed a legal complaint against Fortinet, alleging the FortiGate product line violated their U.S. patent on server-based antivirus technology. Though the International Trade Commission initially ruled against Fortinet, the Trend Micro patents at the center of the dispute were later declared invalid in 2010.

In April 2005, a German court issued a preliminary injunction against Fortinet's UK subsidiary in relation to source code for its GPL-licensed elements. The dispute ended a month later after Fortinet agreed to make the source code available upon request.

In October 2005, an OpenNet study suggested that the military government of Myanmar, which was under which at the time was subject to U.S. sanctions for human rights violations, had begun using Fortinet's FortiGuard system for internet censorship. Fortinet stated that their products are sold by third-party resellers and that they acknowledged US embargoes; however, their sales director participated in a ceremony to deliver the firewall product to the prime minister.

In September 2019, Fortinet settled a whistleblower lawsuit regarding what the company has described as an "isolated incident" of sales of intentionally mislabeled Chinese-made equipment to U.S. government end users.

In 2023, Fortinet Fortiguard devices were revealed by Microsoft and members of the Five Eyes intelligence network to be the subject of a wide-ranging and ongoing cyberattack by a state-sponsored entity in China.

In September 2024, reports surfaced of an unknown person going by the nickname "Fortibitch" posting to an unnamed hacking forum that they allegedly stole 440 gigabytes of data from Fortinet's Microsoft SharePoint server. Fortinet confirmed the data breach to Bleeping Computer and said that the data breach included "limited data related to a small number of Fortinet customers".

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorTechnology industryTechnology employees15,472 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$6.80B
2019-12-31 → 2025-12-31
EPS$2.42
2019-12-31 → 2025-12-31
Free Cash Flow$2.23B
2019-12-31 → 2025-12-31
Net margin28.2%
2019-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend FTNT 5Y avg Peer Median Verdict
P/E (TTM) 65.1 · 54.3 Fair value
P/S (TTM) 17.9 · 9.0 Overvalued
P/B (MRQ) 87.1 · 9.5 Overvalued
EV / EBITDA 60.5 · 21.7 Overvalued
Price / FCF (TTM) 43.3 · · ·
Price / Cash Flow (TTM) 39.8 · 22.8 Fair value
EV / Revenue 19.9 · · ·
EV / FCF 60.8 · · ·
Price / Tangible Book (MRQ) 91.6 · · ·
PEG Ratio ≈2.0 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 13.9%
Next Report Nov 03, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 4, 2026 $0.90 $0.76 18.2%
March 31, 2026 $0.82 $0.63 30.2%
Dec. 31, 2025 $0.81 $0.76 7.2%
Sept. 30, 2025 $0.74 $0.64 14.8%
June 30, 2025 $0.64 $0.60 6.2%
March 31, 2025 $0.58 $0.54 6.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 17
Metric Trend 202520242023202220212020201920182017201620152014
Revenue $6.80B$5.96B$5.30B$4.42B$3.34B$2.59B$2.16B$1.80B$1.49B$1.28B$1.01B$770M
Cost of Revenue $1.33B$1.16B$1.24B$1.08B$783M$570M$506M$450M$385M$338M$287M$231M
Gross Profit $5.47B$4.80B$4.07B$3.33B$2.56B$2.02B$1.66B$1.35B$1.11B$938M$722M$539M
R&D Expense $816M$717M$614M$512M$424M$341M$277M$244M$211M$183M$158M$123M
SG&A Expense $233M$238M$211M$169M$144M$120M$102M$93M$88M$81M$72M$41M
Operating Expenses $3.39B$2.99B$2.83B$2.36B$1.91B$1.49B$1.31B$1.12B$1000M$895M$708M$480M
Operating Income $2.08B$1.80B$1.24B$970M$650M$532M$351M$234M$110M$43M$15M$59M
Interest Expense $20M$20M$21M$18M$15M$0$0·····
Other Non-op $55M$120M$-6M$-14M$-12M$-8M$-8M$-7M$700.0K$-7M$-3M$-3M
Pretax Income $2.28B$2.06B$1.33B$956M$628M$542M$386M$254M$124M$43M$17M$62M
Income Tax $439M$284M$144M$31M$14M$53M$54M$-81M$93M$11M$9M$36M
Net Income $1.85B$1.75B$1.15B$857M$607M$488M$332M$335M$31M$32M$8M$25M
EPS (Basic) $2.45$2.28$1.47$1.08$0.74$0.60$1.94$1.98$0.18$0.19$0.05$0.15
EPS (Diluted) $2.42$2.26$1.46$1.06$0.73$0.58$1.90$1.92$0.18$0.18$0.05$0.15
Shares (Basic) 758,000,000764,400,000778,600,000791,400,000816,100,000821,000,000171,000,000169,100,000174,300,000172,600,000170,385,000163,831,000
Shares (Diluted) 764,600,000771,900,000788,200,000805,300,000835,300,000838,300,000175,000,000174,200,000178,100,000176,300,000176,141,000169,289,000
EBITDA $2.24B$1.93B$1.35B$1.07B$735M$601M$406M$287M·$91M$46M$81M
Balance Sheet 28
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents $2.50B$2.88B$1.40B$1.68B$1.32B$1.06B$1.22B$1.11B$811M$709M$543M$283M
Short-term Investments ·····$776M$843M$537M$440M$377M$348M$437M
Receivables $1.69B$1.46B$1.40B$1.26B$808M$720M$544M$444M$348M$313M$260M$185M
Inventory $400M$316M$485M$265M$176M$140M$118M$90M$77M$107M$84M$69M
Prepaid Expense $227M$126M$101M$73M$65M$43M$41M$37M$40M$33M$36M$31M
Current Assets $5.90B$5.97B$4.43B$3.81B$3.60B$2.74B$2.77B$2.22B$1.72B$1.54B$1.27B$1.01B
PP&E (Net) $1.62B$1.35B$1.04B$898M$688M$448M$344M$271M$245M$137M$91M$59M
PP&E (Gross) $2.10B$1.77B$1.40B$1.18B$899M$620M$481M$382M$341M$208M$140M$95M
Accum. Depreciation $482M$416M$353M$280M$212M$172M$137M$111M$95M$70M$49M$36M
Goodwill $257M$235M$126M$128M$125M$93M$67M$38M$15M$15M$5M$3M
Intangibles $97M$115M$35M$56M$64M$32M$31M$22M$16M$25M$18M$3M
Other Non-current Assets $125M$133M$150M$202M$236M$63M$60M$21M$20M$17M$14M$11M
Total Assets $10.39B$9.76B$7.26B$6.23B$5.92B$4.04B$3.88B$3.08B$2.26B$2.14B$1.79B$1.42B
Accounts Payable $231M$191M$204M$243M$148M$142M$96M$86M$70M$57M$62M$50M
Accrued Liabilities $355M$338M$424M$266M$197M$149M$102M$78M$50M$36M$33M$29M
Current Liabilities $5.03B$4.06B$3.72B$3.08B$2.32B$1.83B$1.46B$1.26B$1.03B$829M$679M$496M
Capital Leases $29M$46M$46M$62M$40M$34M$31M·····
Deferred Tax ······$5M·····
Other Non-current Liabilities $141M$130M$125M$150M$59M$56M$45M$13M$9M$14M$19M$17M
Total Liabilities $9.15B$8.27B$7.72B$6.51B$5.12B$3.19B$2.54B$2.07B$1.67B$1.30B$1.04B$749M
Long-term Debt $996M$994M···$0······
Total Debt $996M$994M$992M$990M$988M·······
Common Stock $700.0K$800.0K$800.0K$800.0K$800.0K$200.0K$200.0K$200.0K$200.0K$173.0K$171.0K$166.0K
Retained Earnings $-508M$-117M$-1.86B$-1.55B$-468M$-352M$161M$-58M$-320M$38M$68M$114M
AOCI $-25M$-26M$-19M$-20M$-5M$700.0K$1M$-800.0K$-800.0K$-765.0K$-933.0K$-349.0K
Stockholders' Equity $1.24B$1.49B$-463M$-282M$782M$856M$1.34B$1.03B$602M$838M$755M$676M
Liabilities + Equity $10.39B$9.76B$7.26B$6.23B$5.92B$4.04B$3.88B$3.08B$2.26B$2.14B$1.79B$1.42B
Shares Outstanding 743,000,000767,000,000761,000,000781,500,000810,000,000162,500,000171,700,000169,800,000167,900,000173,078,000171,399,000166,443,000
Cash Flow 19
Metric Trend 202520242023202220212020201920182017201620152014
D&A $152M$123M$113M$104M$84M$69M$62M$56M$56M$48M$32M$22M
Stock-based Comp $280M$258M$249M$217M$208M$192M$174M$163M$137M$122M$95M$59M
Deferred Tax $68M$-223M$-307M$-226M$-92M$-7M$32M$-107M$29M$-16M$-14M$8M
Amort. of Intangibles $51M$23M$19M$23M$18M$13M$11M$9M$9M$9M$3M$2M
Restructuring ······$0$0$300.0K$4M$8M$0
Other Non-cash $237M$355M$732M$777M$693M$342M$216M$196M·$158M$162M$82M
Operating Cash Flow $2.59B$2.26B$1.94B$1.73B$1.50B$1.08B$808M$639M$594M$346M$283M$197M
CapEx $365M$379M$204M$281M$296M$126M$92M$53M$135M$67M$37M$32M
Investing Cash Flow $-599M$-727M$-649M$764M$-1.33B$-73M$-502M$-135M$-77M$-74M$-967.0K$-29M
Debt Issued ··$0$0$989M$0$0·····
Net Debt Issued ··$0$0$989M·······
Stock Issued $45M$63M$44M$26M$26M$22M$50M$86M$76M$45M$67M$55M
Stock Repurchased $2.29B$600.0K$1.50B$1.99B$742M$1.08B$145M$212M$446M$111M$60M$44M
Net Stock Activity $-2.25B$62M$-1.46B$-1.97B$-716M$-1.06B$-96M$-125M·$-66M$7M$11M
Financing Cash Flow $-2.37B$-50M$-1.57B$-2.13B$83M$-1.17B$-196M$-203M$-416M$-106M$-22M$749.0K
Net Change in Cash $-381M$1.48B$-285M$364M$257M$-161M$110M$301M$102M$166M$260M$167M
Taxes Paid $452M$579M$426M$260M$127M$40M$59M$41M$32M$27M$19M$41M
Free Cash Flow $2.23B$1.88B$1.73B$1.45B$1.20B$958M$716M$586M·$279M$245M$164M
Levered FCF $2.21B$1.86B$1.71B$1.43B$1.19B·······
Profitability 8
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 80.5%80.6%76.7%75.4%76.6%78.0%76.5%75.0%·73.5%71.6%70.0%
Operating Margin 30.7%30.3%23.4%21.9%19.5%20.5%16.0%12.8%·3.4%1.5%7.7%
Net Margin 27.3%29.3%21.6%19.4%18.2%18.8%15.1%18.4%·2.5%0.79%3.3%
Pretax Margin 33.6%34.6%25.1%21.6%18.8%20.9%17.6%13.9%·3.4%1.7%8.0%
EBITDA Margin 32.9%32.3%25.5%24.3%22.0%23.2%18.8%15.9%·7.2%4.6%10.6%
ROA 18.4%18.8%17.0%14.1%12.2%12.3%9.4%12.4%·1.6%0.50%1.9%
ROE 135.7%338.7%-308.1%342.9%68.9%68.7%25.7%34.9%·4.0%1.1%4.0%
ROIC 75.4%62.5%209.4%132.4%35.9%56.0%22.4%30.3%·3.8%0.93%3.6%
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 1.21.51.21.21.61.51.91.8·1.91.92.1
Quick Ratio 0.81.10.81.00.91.41.81.7·1.71.71.8
Debt / Equity 0.80.7-2.1-3.51.3·······
LT Debt / Equity 0.40.7-2.1-3.51.3·······
Interest Coverage 103.790.259.153.943.7·······
Efficiency 3
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 0.70.60.80.70.70.70.60.7·0.60.60.6
Inventory Turnover 3.72.93.34.95.04.44.95.4·3.53.73.9
Receivables Turnover 4.34.24.04.34.44.14.44.5·4.54.54.9
Per Share 5
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share $1.67$1.95$-0.61$-0.36$4.83$5.27$7.70$5.95·$4.84$4.41$4.06
Revenue / Share $8.89$7.72$6.73$5.49$20.00$15.47$12.32$10.34·$7.23$5.73$4.55
Cash Flow / Share $3.39$2.93$2.46$2.15$8.97$6.46$4.62$3.67·$1.96$1.60$1.16
Cash / Share $3.36$3.75$1.84$2.15$8.14$6.53$7.12$6.55·$4.10$3.17$1.70
EPS (TTM) $2.42$2.26$1.46$1.06$0.73$0.58$1.90$1.92$0.18$0.18$0.05$0.15
Growth Rates 9
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 14.2%12.3%20.1%32.2%28.8%·······
Revenue CAGR 3Y 15.5%21.2%26.9%·········
Revenue CAGR 5Y 21.2%···········
EPS YoY 7.1%54.8%37.7%45.2%25.9%·······
EPS CAGR 3Y 31.7%45.8%36.0%·········
EPS CAGR 5Y 33.1%···········
Net Income YoY 6.2%52.0%33.9%41.3%24.2%·······
Net Income CAGR 3Y 29.3%42.2%32.9%·········
Net Income CAGR 5Y 30.6%···········
Valuation (TTM) 14
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM $6.80B$5.96B$5.30B$4.42B$3.34B$2.59B$2.16B$1.80B$1.49B$1.28B$1.01B$770M
Net Income TTM $1.85B$1.75B$1.15B$857M$607M$488M$332M$335M$31M$32M$8M$25M
Market Cap $59.00B$72.47B$44.54B$38.21B$11.64B$4.83B$3.67B$2.39B·$1.04B$1.07B$1.02B
Enterprise Value $57.50B$70.58B$44.14B$37.52B$11.31B·······
P/E 32.841.840.146.198.551.211.27.348.533.5124.740.9
P/S 8.712.28.48.63.51.91.71.3·0.81.11.3
P/B 47.748.5-96.1-135.714.95.62.82.4·1.21.41.5
P / Tangible Book 66.863.4··19.66.6······
P / Cash Flow 22.832.123.022.17.84.54.53.7·3.03.85.2
P / FCF 26.538.625.726.49.75.05.14.1·3.74.46.2
EV / EBITDA 25.736.632.634.915.4·······
EV / FCF 25.837.625.525.99.4·······
EV / Revenue 8.511.98.38.53.4·······
Earnings Yield 3.0%2.4%2.5%2.2%1.0%1.9%8.9%13.6%2.1%3.0%0.80%2.5%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312024-09-302024-06-302024-03-31
Revenue $6.80B $5.96B · · ·
Gross Margin % 80.5% 80.6% · · ·
Operating Margin % 30.7% 30.3% · · ·
Net Income $1.85B $1.75B · · ·
Diluted EPS $2.42 $2.26 · · ·

Institutional owners (13F) 1,731 filers · $83.1B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 1,731
Value held $83.1B
New positions 361
Exited positions 88
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
361 (+174 vs prior Q) 88 (-40 vs prior Q) 512 (+4 vs prior Q) 563 (+53 vs prior Q) +17.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
BlackRock, Inc. $9,561,650,069 62,242,221 11.50% Shares
VANGUARD CAPITAL MANAGEMENT LLC $6,246,797,689 40,663,961 7.51% Shares
VANGUARD GROUP INC $5,856,134,998 73,745,561 7.04% Shares
STATE STREET CORP $4,551,860,760 29,630,652 5.48% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $3,816,640,509 24,844,685 4.59% Shares
Invesco Ltd. $3,782,280,478 24,621,016 4.55% Shares
GEODE CAPITAL MANAGEMENT, LLC $2,679,014,063 17,439,799 3.22% Shares
NORGES BANK $1,912,470,069 12,449,356 2.30% Shares
FIRST TRUST ADVISORS LP $1,661,525,118 10,815,814 2.00% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $1,555,762,278 10,127,342 1.87% Shares
Bank of New York Mellon Corp $1,432,841,652 9,327,182 1.72% Shares
AQR CAPITAL MANAGEMENT LLC $1,331,939,724 8,673,742 1.60% Shares
MORGAN STANLEY $1,315,244,470 8,561,672 1.58% Shares
GOLDMAN SACHS GROUP INC $1,244,537,390 8,101,402 1.50% Shares
NORDEA INVESTMENT MANAGEMENT AB $1,029,524,449 6,782,111 1.24% Shares
Legal & General Group Plc $979,061,584 6,373,269 1.18% Shares
NORTHERN TRUST CORP $964,595,035 6,279,098 1.16% Shares
JPMORGAN CHASE & CO $775,481,730 4,989,587 0.93% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $763,057,884 4,967,178 0.92% Shares
D. E. Shaw & Co., Inc. $745,027,966 4,849,811 0.90% Shares
Amundi $727,081,295 4,732,986 0.87% Shares
DIMENSIONAL FUND ADVISORS LP $658,323,462 4,285,254 0.79% Shares
BANK OF AMERICA CORP /DE/ $656,851,669 4,275,821 0.79% Shares
JANE STREET GROUP, LLC $627,202,347 4,082,817 0.75% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $617,328,897 7,554,196 0.74% Shares
DEUTSCHE BANK AG\ $581,102,367 3,782,726 0.70% Shares
Fundsmith LLP $557,631,076 3,629,938 0.67% Shares
VANGUARD FIDUCIARY TRUST CO $549,113,154 3,574,490 0.66% Shares
Swedbank AB $537,108,674 3,496,346 0.65% Shares
AMERIPRISE FINANCIAL INC $518,173,203 3,372,641 0.62% Shares
UBS Group AG $487,347,468 3,172,422 0.59% Shares
FMR LLC $474,277,914 3,087,344 0.57% Shares
Capital World Investors $420,915,113 2,739,976 0.51% Shares
CITIGROUP INC $403,038,814 2,623,609 0.48% Shares
JACOBS LEVY EQUITY MANAGEMENT, INC $393,964,020 2,564,536 0.47% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $381,392,374 2,482,700 0.46% Put option
CITADEL ADVISORS LLC $365,517,898 2,379,364 0.44% Shares
Nuveen, LLC $334,039,778 2,174,455 0.40% Shares
TWO SIGMA INVESTMENTS, LP $333,571,697 2,171,408 0.40% Shares
Pictet Asset Management Holding SA $330,631,673 2,151,719 0.40% Shares
VAN ECK ASSOCIATES CORP $306,132,093 1,992,788 0.37% Shares
JANE STREET GROUP, LLC $298,114,972 1,940,600 0.36% Call option
BARCLAYS PLC $282,955,596 1,841,919 0.34% Shares
BNP PARIBAS FINANCIAL MARKETS $281,343,816 1,831,427 0.34% Shares
Swiss National Bank $272,506,518 1,773,900 0.33% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $269,311,222 1,753,100 0.32% Call option
Robeco Institutional Asset Management B.V. $256,228,787 1,667,939 0.31% Shares
VOYA INVESTMENT MANAGEMENT LLC $248,590,034 1,618,214 0.30% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $245,912,284 1,600,783 0.30% Shares
Russell Investments Group, Ltd. $243,356,742 1,579,620 0.29% Shares

Show all 1,731 institutional owners →

Company insiders 28 insiders · 9 officers · 21 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Ken Xie PRESIDENT & CEO Aug. 3, 2026 M 52,972,372 0 24 $-78,146,870
Christiane Ohlgart Chief Financial Officer Sept. 24, 2026 S 10,345 0 9 $-408,432
Keith Jensen Chief Financial Officer May 1, 2025 M 7,905 0 0 $0
Andrew H Del Matto Chief Financial Officer Feb. 1, 2018 M 55,920 0 0 $0
Ahmed Rubaie CFO & COO May 14, 2013 A · 0 0 $0
John Whittle CHIEF OPERATING OFFICER Sept. 15, 2026 M 96,987 0 6 $-28,140,110
Michael Xie VP, ENGINEERING & CTO Aug. 1, 2026 M 9,918,360 0 19 $-29,542,538
Patrice Perche Chief Revenue Off./EVP Supp. Dec. 21, 2023 M 25,730 0 0 $0
Nancy Bush Interim Chief Financial Offcr Feb. 13, 2013 A · 0 0 $0
Derek T. Kan Director Sept. 30, 2026 M 459 0 0 $0
Janet Napolitano Director Sept. 30, 2026 M 4,733 0 0 $0
James G. Stavridis Director Sept. 30, 2026 M 17,648 0 0 $0
Judith Sim Director Sept. 30, 2026 M 130,001 0 0 $0
Jean X. Hu Director Sept. 30, 2026 M 39,508 0 0 $0
Ming Hsieh Director Sept. 30, 2026 M 10,056 0 0 $0
Kenneth A Goldman Director Sept. 30, 2026 M 23,928 0 0 $0
William H. Neukom Director June 12, 2025 M 302,601 0 0 $0
Mary Agnes Wilderotter Director June 12, 2025 M 5,069 0 0 $0
Kelly Ducourty Director June 16, 2022 M 2,319 0 0 $0
Christopher B Paisley Director June 17, 2021 M 77,271 0 0 $0
Chenming Hu Director Sept. 30, 2020 M 2,580 0 0 $0
Gary Locke Director June 18, 2020 M 31,858 0 0 $0
Peter Dale Cohen Jr. Director June 21, 2019 D 7,059 0 0 $0
Hong Liang Lu Director Aug. 28, 2015 M 7,725 0 0 $0
Pehong Chen Director Aug. 8, 2012 A 0 0 0 $0
Greg Myers Director April 27, 2012 M 0 0 0 $0
John L Walecka Director Aug. 2, 2011 A 0 0 0 $0
George Hara Director May 27, 2010 J 45,590 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 185 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IHAK · iShares Trust 4.08% 269,308 SH Sept. 11, 2026 Daily
FMTM · EA Series Trust 3.44% 53,531 NS July 31, 2026 N-PORT
IGV · iShares Trust 3.40% 2,850,403 SH Sept. 11, 2026 Daily
PTF · Invesco Exchange-Traded Fund Trust 3.09% 109,050 SH Oct. 2, 2026 Daily
AMOM · Exchange Listed Funds Trust 2.94% 4,333 NS July 31, 2026 N-PORT
QQQG · Pacer Funds Trust 2.64% 3,321 NS July 31, 2026 N-PORT
ABOT · Abacus FCF ETF Trust 2.54% 634 NS July 31, 2026 N-PORT
COWG · Pacer Funds Trust 2.36% 322,492 NS July 31, 2026 N-PORT
QNXT · iShares Trust 2.23% 3,833 SH Sept. 11, 2026 Daily
BMVP · Invesco Exchange-Traded Fund Trust 2.07% 11,532 SH Oct. 2, 2026 Daily
SAWG · ETF Series Solutions 2.05% 364 NS July 31, 2026 N-PORT
FGSI · First Trust Exchange-Traded Fund IV 1.96% 250 NS July 31, 2026 N-PORT
NULG · Nushares ETF Trust 1.83% 300,694 NS July 31, 2026 N-PORT
IETC · iShares U.S. ETF Trust 1.81% 78,261 SH Sept. 11, 2026 Daily
VFQY · VANGUARD WELLINGTON FUND 1.76% 54,403 SH Aug. 19, 2026 Daily
SPGP · Invesco Exchange-Traded Fund Trust 1.73% 197,738 SH Oct. 2, 2026 Daily
SPHQ · Invesco Exchange-Traded Fund Trust 1.60% 1,683,692 SH Oct. 2, 2026 Daily
PWB · Invesco Exchange-Traded Fund Trust 1.58% 241,265 SH Oct. 2, 2026 Daily
TECB · iShares Trust 1.55% 48,199 SH Sept. 11, 2026 Daily
TRFK · Pacer Funds Trust 1.51% 89,014 NS July 31, 2026 N-PORT
GARP · iShares Trust 1.49% 287,727 SH Sept. 11, 2026 Daily
RSPT · Invesco Exchange-Traded Fund Trust 1.46% 505,071 SH Oct. 2, 2026 Daily
QUSA · Tidal Trust III 1.42% 1,881 NS July 31, 2026 N-PORT
FXL · First Trust Exchange-Traded AlphaDE… 1.40% 221,437 NS July 31, 2026 N-PORT
ROUS · Lattice Strategies Trust 1.37% 59,903 NS July 31, 2026 N-PORT
IMCG · iShares Trust 1.37% 344,179 SH Sept. 11, 2026 Daily
HQGO · Lattice Strategies Trust 1.29% 3,925 NS July 31, 2026 N-PORT
FQAL · FIDELITY COVINGTON TRUST 1.27% 110,405 NS July 31, 2026 N-PORT
QQQE · Direxion Shares ETF Trust 1.20% 98,519 NS July 31, 2026 N-PORT
QUAL · iShares Trust 1.15% 3,357,675 SH Sept. 11, 2026 Daily
KNCT · Invesco Exchange-Traded Fund Trust 1.12% 10,404 SH Oct. 2, 2026 Daily
VOT · VANGUARD INDEX FUNDS 1.05% 2,385,421 SH Aug. 19, 2026 Daily
ESLG · Strategy Shares 1.03% 1,486 NS July 31, 2026 N-PORT
FTC · First Trust Exchange-Traded AlphaDE… 1.03% 83,657 NS July 31, 2026 N-PORT
LCOW · Pacer Funds Trust 1.00% 1,597 NS July 31, 2026 N-PORT
PEXL · Pacer Funds Trust 0.97% 3,036 NS July 31, 2026 N-PORT
XT · iShares Trust 0.90% 220,225 SH Sept. 11, 2026 Daily
LSEQ · Harbor ETF Trust 0.89% 845 NS July 31, 2026 N-PORT
MTUM · iShares Trust 0.89% 1,365,261 SH Sept. 11, 2026 Daily
JOET · Virtus ETF Trust II 0.85% 12,803 NS July 31, 2026 N-PORT
INFO · Harbor ETF Trust 0.82% 42,732 NS July 31, 2026 N-PORT
PDP · Invesco Exchange-Traded Fund Trust 0.80% 66,257 SH Oct. 2, 2026 Daily
USMV · iShares Trust 0.79% 1,177,222 SH Sept. 11, 2026 Daily
ESUM · Strategy Shares 0.77% 8,688 NS July 31, 2026 N-PORT
TRFM · ETF Series Solutions 0.77% 11,740 NS July 31, 2026 N-PORT
FEUS · FlexShares Trust 0.75% 5,170 NS July 31, 2026 N-PORT
RILA · Spinnaker ETF Series 0.69% 1,794 NS July 31, 2026 N-PORT
IMCB · iShares Trust 0.69% 72,908 SH Sept. 11, 2026 Daily
PALC · Pacer Funds Trust 0.69% 8,907 NS July 31, 2026 N-PORT
FBUF · Fidelity Greenwood Street Trust 0.67% 989 NS July 31, 2026 N-PORT
FYEE · Fidelity Greenwood Street Trust 0.67% 8,996 NS July 31, 2026 N-PORT
FTLS · First Trust Exchange-Traded Fund III 0.65% 100,004 NS July 31, 2026 N-PORT
FHEQ · Fidelity Greenwood Street Trust 0.64% 36,487 NS July 31, 2026 N-PORT
DUHP · Dimensional ETF Trust 0.60% 454,837 NS July 31, 2026 N-PORT
XOEF · iShares Trust 0.56% 780 SH Sept. 11, 2026 Daily
QRMI · Global X Funds 0.55% 489 NS July 31, 2026 N-PORT
QYLD · Global X Funds 0.55% 276,597 NS July 31, 2026 N-PORT
QYLG · Global X Funds 0.55% 5,361 NS July 31, 2026 N-PORT
QQQM · Invesco Exchange-Traded Fund Trust … 0.55% 3,375,746 SH Oct. 2, 2026 Daily
QQQ · Invesco QQQ Trust, Series 1 0.55% 15,367,507 SH Oct. 2, 2026 Daily
PTNQ · Pacer Funds Trust 0.54% 40,061 NS July 31, 2026 N-PORT
QQWZ · Pacer Funds Trust 0.54% 1,703 NS July 31, 2026 N-PORT
QTR · Global X Funds 0.54% 253 NS July 31, 2026 N-PORT
LRND · New York Life Investments ETF Trust 0.53% 13,155 NS July 31, 2026 N-PORT
QCLR · Global X Funds 0.52% 107 NS July 31, 2026 N-PORT
FAD · First Trust Exchange-Traded AlphaDE… 0.51% 18,183 NS July 31, 2026 N-PORT
QSIX · Pacer Funds Trust 0.50% 566 NS July 31, 2026 N-PORT
TECL · Direxion Shares ETF Trust 0.48% 152,138 NS July 31, 2026 N-PORT
FTEC · FIDELITY COVINGTON TRUST 0.48% 590,274 NS July 31, 2026 N-PORT
IYW · iShares Trust 0.48% 752,040 SH Sept. 11, 2026 Daily
GLOF · iShares Trust 0.48% 6,001 SH Sept. 11, 2026 Daily
FEX · First Trust Exchange-Traded AlphaDE… 0.47% 45,862 NS July 31, 2026 N-PORT
JQUA · J.P. Morgan Exchange-Traded Fund Tr… 0.47% 239,186 NS July 31, 2026 N-PORT
VO · VANGUARD INDEX FUNDS 0.46% 6,747,807 SH Aug. 19, 2026 Daily
IGM · iShares Trust 0.44% 294,162 SH Sept. 11, 2026 Daily
VGT · VANGUARD WORLD FUND 0.43% 4,702,893 SH Aug. 19, 2026 Daily
LRGF · iShares Trust 0.42% 97,791 SH Sept. 11, 2026 Daily
USXF · iShares Trust 0.40% 36,997 SH Sept. 11, 2026 Daily
OMFL · Invesco Exchange-Traded Self-Indexe… 0.40% 104,970 SH Oct. 2, 2026 Daily
AQLT · iShares Trust 0.36% 7,416 SH Sept. 11, 2026 Daily
IXN · iShares Trust 0.36% 212,668 SH Sept. 11, 2026 Daily
VFMF · VANGUARD WELLINGTON FUND 0.36% 16,620 SH Aug. 19, 2026 Daily
MGK · VANGUARD WORLD FUND 0.35% 757,441 SH Aug. 19, 2026 Daily
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.34% 17,708 NS July 31, 2026 N-PORT
IWY · iShares Trust 0.34% 332,975 SH Sept. 11, 2026 Daily
QLC · FlexShares Trust 0.34% 21,056 NS July 31, 2026 N-PORT
VEGN · ETF Series Solutions 0.34% 3,689 NS July 31, 2026 N-PORT
TYLG · Global X Funds 0.33% 290 NS July 31, 2026 N-PORT
ACWV · iShares, Inc. 0.32% 68,443 SH Sept. 11, 2026 Daily
ILCG · iShares Trust 0.31% 60,588 SH Sept. 11, 2026 Daily
IWF · iShares Trust 0.29% 2,277,860 SH Sept. 11, 2026 Daily
IQSU · New York Life Investments ETF Trust 0.29% 5,893 NS July 31, 2026 N-PORT
MPLY · Strategy Shares 0.29% 285 NS July 31, 2026 N-PORT
ESGG · FlexShares Trust 0.28% 1,938 NS July 31, 2026 N-PORT
EGUS · iShares Trust 0.28% 493 SH Sept. 11, 2026 Daily
VUG · VANGUARD INDEX FUNDS 0.28% 6,931,265 SH Aug. 19, 2026 Daily
VONG · VANGUARD SCOTTSDALE FUNDS 0.28% 960,501 SH Aug. 19, 2026 Daily
DSI · iShares Trust 0.28% 95,181 SH Sept. 11, 2026 Daily
ESG · FlexShares Trust 0.28% 2,280 NS July 31, 2026 N-PORT
SPTE · SP Funds Trust 0.27% 3,482 NS July 31, 2026 N-PORT
GLBL · Pacer Funds Trust 0.25% 17 NS July 31, 2026 N-PORT
ACVF · ETF Opportunities Trust 0.24% 2,255 NS July 31, 2026 N-PORT
RECS · Columbia ETF Trust I 0.24% 85,308 NS July 31, 2026 N-PORT
RSP · Invesco Exchange-Traded Fund Trust 0.23% 1,242,647 SH Oct. 2, 2026 Daily
SIZE · iShares Trust 0.23% 6,115 SH Sept. 11, 2026 Daily
DXUV · Dimensional ETF Trust 0.23% 7,665 NS July 31, 2026 N-PORT
DFSU · Dimensional ETF Trust 0.22% 31,485 NS July 31, 2026 N-PORT
QVML · Invesco Exchange-Traded Fund Trust … 0.22% 20,959 SH Oct. 2, 2026 Daily
DFAC · Dimensional ETF Trust 0.22% 648,093 NS July 31, 2026 N-PORT
EUSA · iShares, Inc. 0.21% 25,528 SH Sept. 11, 2026 Daily
VFMV · VANGUARD WELLINGTON FUND 0.21% 5,789 SH Aug. 19, 2026 Daily
PABU · iShares Trust 0.19% 30,519 SH Sept. 11, 2026 Daily
ESMV · iShares Trust 0.19% 94 SH Sept. 11, 2026 Daily
WRND · New York Life Investments ETF Trust 0.19% 122 NS July 31, 2026 N-PORT
USCL · iShares Trust 0.19% 32,961 SH Sept. 11, 2026 Daily
HDUS · Lattice Strategies Trust 0.18% 2,295 NS July 31, 2026 N-PORT
TOPC · iShares Trust 0.18% 376 SH Sept. 11, 2026 Daily
IVW · iShares Trust 0.17% 836,780 SH Sept. 11, 2026 Daily
SUSA · iShares Trust 0.17% 43,512 SH Sept. 11, 2026 Daily
IWL · iShares Trust 0.17% 23,625 SH Sept. 11, 2026 Daily
VOOG · VANGUARD ADMIRAL FUNDS 0.17% 291,389 SH Aug. 19, 2026 Daily
PBP · Invesco Exchange-Traded Fund Trust 0.17% 3,667 SH Oct. 2, 2026 Daily
ACIO · ETF Series Solutions 0.17% 24,553 NS July 31, 2026 N-PORT
XVV · iShares Trust 0.17% 7,146 SH Sept. 11, 2026 Daily
PBUS · Invesco Exchange-Traded Fund Trust … 0.17% 107,915 SH Oct. 2, 2026 Daily
VOXP · Advisors Series Trust 0.17% 60 NS July 31, 2026 N-PORT
ADME · ETF Series Solutions 0.17% 3,027 NS July 31, 2026 N-PORT
IUSG · iShares Trust 0.17% 345,443 SH Sept. 11, 2026 Daily
CATH · Global X Funds 0.16% 13,254 NS July 31, 2026 N-PORT
HELO · J.P. Morgan Exchange-Traded Fund Tr… 0.16% 45,997 NS July 31, 2026 N-PORT
ESGV · VANGUARD WORLD FUND 0.16% 137,032 SH Aug. 19, 2026 Daily
TOV · EA Series Trust 0.16% 2,558 NS July 31, 2026 N-PORT
XTR · Global X Funds 0.16% 47 NS July 31, 2026 N-PORT
PTLC · Pacer Funds Trust 0.16% 31,551 NS July 31, 2026 N-PORT
XYLD · Global X Funds 0.16% 31,305 NS July 31, 2026 N-PORT
BKLC · BNY Mellon ETF Trust 0.16% 52,794 NS July 31, 2026 N-PORT
XRMI · Global X Funds 0.16% 482 NS July 31, 2026 N-PORT
CHRI · Global X Funds 0.16% 77 NS July 31, 2026 N-PORT
BBUS · J.P. Morgan Exchange-Traded Fund Tr… 0.16% 85,768 NS July 31, 2026 N-PORT
VOTE · TCW ETF Trust 0.16% 10,519 NS July 31, 2026 N-PORT
XCLR · Global X Funds 0.15% 34 NS July 31, 2026 N-PORT
XYLG · Global X Funds 0.15% 605 NS July 31, 2026 N-PORT
IVV · iShares Trust 0.15% 7,849,404 SH Sept. 11, 2026 Daily
VOO · VANGUARD INDEX FUNDS 0.15% 16,174,435 SH Aug. 19, 2026 Daily
VV · VANGUARD INDEX FUNDS 0.15% 727,326 SH Aug. 19, 2026 Daily
ILCB · iShares Trust 0.15% 12,048 SH Sept. 11, 2026 Daily
DFUS · Dimensional ETF Trust 0.15% 188,520 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.14% 29,846 NS July 31, 2026 N-PORT
SPUU · Direxion Shares ETF Trust 0.14% 2,350 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.14% 109,251 NS July 31, 2026 N-PORT
QDPL · Pacer Funds Trust 0.14% 14,975 NS July 31, 2026 N-PORT
IYY · iShares Trust 0.14% 26,654 SH Sept. 11, 2026 Daily
ESGU · iShares Trust 0.14% 158,137 SH Sept. 11, 2026 Daily
PHDG · Invesco Actively Managed Exchange-T… 0.14% 485 SH Oct. 2, 2026 Daily
IWB · iShares Trust 0.14% 419,983 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.13% 810,763 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.13% 166,521 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.13% 19,772,950 SH Aug. 19, 2026 Daily
VONE · VANGUARD SCOTTSDALE FUNDS 0.13% 100,285 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.13% 51,033 SH Aug. 19, 2026 Daily
HCMT · Direxion Shares ETF Trust 0.12% 4,333 NS July 31, 2026 N-PORT
IVE · iShares Trust 0.12% 382,310 SH Sept. 11, 2026 Daily
VOOV · VANGUARD ADMIRAL FUNDS 0.12% 53,040 SH Aug. 19, 2026 Daily
SPXL · Direxion Shares ETF Trust 0.12% 48,685 NS July 31, 2026 N-PORT
TOK · iShares Trust 0.12% 1,740 SH Sept. 11, 2026 Daily
IUSV · iShares Trust 0.12% 201,086 SH Sept. 11, 2026 Daily
URTH · iShares, Inc. 0.11% 56,332 SH Sept. 11, 2026 Daily
TILT · FlexShares Trust 0.11% 14,694 NS July 31, 2026 N-PORT
ACWI · iShares Trust 0.10% 198,540 SH Sept. 11, 2026 Daily
DFVX · Dimensional ETF Trust 0.09% 3,076 NS July 31, 2026 N-PORT
PFIG · Invesco Exchange-Traded Fund Trust … 0.09% 136,000 Oct. 2, 2026 Daily
LGDX · Tidal Trust III 0.09% 802 NS July 31, 2026 N-PORT
MGC · VANGUARD WORLD FUND 0.09% 62,508 SH Aug. 19, 2026 Daily
PWS · Pacer Funds Trust 0.09% 129 NS July 31, 2026 N-PORT
IUS · Invesco Exchange-Traded Self-Indexe… 0.08% 4,424 SH Oct. 2, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.08% 508,774 SH Aug. 19, 2026 Daily
CRBN · iShares Trust 0.08% 5,687 SH Sept. 11, 2026 Daily
PEVC · Pacer Funds Trust 0.07% 11 NS July 31, 2026 N-PORT
EQAL · Invesco Exchange-Traded Fund Trust … 0.07% 3,183 SH Oct. 2, 2026 Daily
DYNF · BlackRock ETF Trust 0.07% 184,528 SH Sept. 11, 2026 Daily
PRF · Invesco Exchange-Traded Fund Trust 0.07% 35,857 SH Oct. 2, 2026 Daily
RWL · Invesco Exchange-Traded Fund Trust … 0.04% 23,846 SH Oct. 2, 2026 Daily
BND · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
BNDW · VANGUARD SCOTTSDALE FUNDS · · July 14, 2026 Daily

FTNT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 52 analysts HOLD
Median target $165.00 -10.4%
5 9.6% Strong Buy
11 21.2% Buy
30 57.7% Hold
5 9.6% Sell
1 1.9% Strong Sell

12-Month Price Target

36 analysts · 2026-10-02

Mean target $164.32 -10.8%

Now Current price $184.13
Low$104.00 Mean$164.32 High$220.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
FTNT $59.00B 32.8 14.2% 27.3% 135.7% 80.5%
MSFT $2.77T 20.8 17.8% 40.3% 34.0% 67.9%
ORCL $650.25B 38.7 17.3% 25.4% 54.3% ·
PANW $270.44B 829.6 24.5% 2.7% 1.7% 70.4%
CRWD · -685.9 21.7% -3.4% -4.2% 74.7%
NOW $160.43B 91.7 20.9% 13.2% 14.6% 77.5%
RBRK $11.32B -31.4 48.5% -26.5% 64.4% 80.1%
ZS $24.65B -387.7 25.4% -1.9% -2.6% 76.8%
GEN $11.30B 12.0 27.1% 19.5% 38.4% 78.5%
FROG $7.47B -100.7 24.1% -13.5% -8.4% 76.8%
S · -10.2 21.9% -45.0% -30.6% 74.1%

Latest News Recent headlines mentioning this company

23

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

25

No open signal right now — no card is filled, and that's honest.

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Jul 30, 2026