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FTNT Fortinet, Inc.

Technology

136.08 Close 10/30
Since 2024-12-02 +42.8%
Open
137.09
High
138.79
Low
134.40
Prev close
139.10
Volume
8.6M
Amplitude
3.16%
P/E
44.2
P/B
44.5
Revenue YoY (TTM)
+20.2%
52W 73.55 197.13

Is Fortinet, Inc. a buy? Fundamentals and valuation first

As of 2026-10-30

Quality: Strong, Growth: Good, Momentum: Good, Risk / liquidity: Good; Valuation: Pricey.

Valuation Pricey Free-cash-flow yield is Good, but Price / book is Expensive.
TTM P/E 44.18 80th percentile Expensive
Price / book 44.5 98th percentile Expensive
Free-cash-flow yield (%) 3.43 60th percentile Good
US Stock Backtest in Python: Price-to-Book Ratio StrategyQuality Factor Investing: A US Quality Value Backtest
Quality Strong All 3 indicators are Top.
ROE, TTM (%) 101.58 95th percentile Top
Operating margin, TTM (%) 32.98 85th percentile Top
FCF margin, TTM (%) 43.54 91th percentile Top
Quality Factor Investing: A US Quality Value Backtest
Growth Good All 2 indicators are Good.
Revenue growth, TTM YoY (%) 20.23 74th percentile Good
Diluted EPS growth, TTM YoY (%) 26.75 70th percentile Good
Momentum Good 240-day return is Top, but 60-day return is Average.
60-day return (%) -15.01 34th percentile Average
240-day return (%) 65.33 91th percentile Top
Momentum Trading Strategy: A 12-1 Momentum Backtest
Risk / liquidity Good 20-day dollar volume is Top, but 60-day annualized volatility is Average.
20-day dollar volume 803,245,099 98th percentile Top
60-day annualized volatility (%) 62.51 65th percentile Average
Factor Investing Explained: 10 Classic Factors in US Stocks

Fortinet, Inc. (FTNT) today

3 quant signals active · As of 2026-10-30

Win rate and excess are historical post-trigger stats vs the market. Click a signal for its full definition and samples; history does not predict future results.

FinLab Studio

From Fortinet, Inc. to every stock like it

AI finds several complementary traits of Fortinet, Inc. across different dimensions, combines them into a multifactor strategy, and backtests it against the market.

Screen stocks like Fortinet, Inc.

Fortinet, Inc. (FTNT) peers and tracking

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Fortinet, Inc. (FTNT) quant signal backtests

Signals active now

Each active condition is tested against this stock’s own history and benchmarked versus the S&P 500.

Top-quintile 6-month momentum

Active · now 92.61%

The stock ranks in the top 20% of the liquid US common-stock universe by 126-day adjusted return.

Momentum Trading Strategy: A 12-1 Momentum Backtest
21 historical occurrences (since 2016-07-27)

Average forward return after Top-quintile 6-month momentum

20-day: Win 61.9%, Sample 21, Median +1.26%, Excess +1.82%, Beat mkt rate 61.9%

60-day: Win 57.1%, Sample 21, Median +7.9%, Excess +2.59%, Beat mkt rate 57.1%

120-day: Win 57.1%, Sample 21, Median +3.05%, Excess +1.42%, Beat mkt rate 47.6%

120 days after: historical avg +5.66%

20-day +2.76%
60-day +5.65%
120-day +5.66%
20-day
60-day
120-day
Win
61.9%
57.1%
57.1%
Sample
21
21
21
Median
+1.26%
+7.9%
+3.05%
Excess
+1.82%
+2.59%
+1.42%
Beat mkt rate
61.9%
57.1%
47.6%

Over 21 occurrences, 120-day forward avg gained 5.66%, beat the market by 1.42 pts; win rate 57.1%.

Filed revenue acceleration

Active · now 20.23%

TTM revenue growth is at least 10% and improved versus the prior filed quarter; event date is the SEC filing date.

19 historical occurrences (since 2018-08-07)

Average forward return after Filed revenue acceleration

20-day: Win 72.2%, Sample 18, Median +4.9%, Excess +2.76%, Beat mkt rate 61.1%

60-day: Win 66.7%, Sample 18, Median +8.96%, Excess +6.28%, Beat mkt rate 61.1%

120-day: Win 52.9%, Sample 17, Median +1.42%, Excess +0.7%, Beat mkt rate 52.9%

120 days after: historical avg +5.79%

20-day +3.83%
60-day +8.66%
120-day +5.79%
20-day
60-day
120-day
Win
72.2%
66.7%
52.9%
Sample
18
18
17
Median
+4.9%
+8.96%
+1.42%
Excess
+2.76%
+6.28%
+0.7%
Beat mkt rate
61.1%
61.1%
52.9%

Over 17 occurrences, 120-day forward avg gained 5.79%, beat the market by 0.7 pts; win rate 52.9%.

EPS surprise beat

Active · now 5.81%

Reported EPS beat consensus estimate by at least 5%; event date is the earnings-surprise timestamp.

PEAD: Post-Earnings Announcement Drift Backtest
44 historical occurrences (since 2015-04-20)

Average forward return after EPS surprise beat

20-day: Win 60%, Sample 40, Median +4.26%, Excess +2.82%, Beat mkt rate 52.5%

60-day: Win 62.5%, Sample 40, Median +7.77%, Excess +5.88%, Beat mkt rate 57.5%

120-day: Win 66.7%, Sample 39, Median +11.44%, Excess +13.78%, Beat mkt rate 56.4%

120 days after: historical avg +20.42%

20-day +4.16%
60-day +9.23%
120-day +20.42%
20-day
60-day
120-day
Win
60%
62.5%
66.7%
Sample
40
40
39
Median
+4.26%
+7.77%
+11.44%
Excess
+2.82%
+5.88%
+13.78%
Beat mkt rate
52.5%
57.5%
56.4%

Over 39 occurrences, 120-day forward avg gained 20.42%, beat the market by 13.78 pts; win rate 66.7%.

Valuation regime and forward returns

Daily TTM P/E is converted into an expanding own-history percentile, then grouped into five valuation regimes. Forward returns use adjusted prices over the next 240 trading days.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 You are here836+31.5% +19.7% 74.5% +12.5%
20-40 218+98.7% +91.8% 96.8% +65.6%
40-60 265+24% +15% 69.1% +25.3%
60-80 89-18.1% -19.4% 4.5% -4.2%
80-100 0Insufficient data

Quarterly EPS is aligned by SEC filing date before it is forward-filled to daily prices. The expanding percentile uses only information available up to each day.

Current TTM P/E is about 44.18, placing it in the 18.3 own-history percentile, inside the 0-20 bucket.

More history: Valuation × momentum analogs, Market-wide momentum baseline, Signals not active now

Valuation × momentum analogs

Each historical day is grouped by own-history P/E tercile and 60-day momentum direction, then tested for the next 120-trading-day adjusted return.

Valuation
Momentum
Cheap (own-history bottom third)
Middle
Expensive (own-history top third)
60-day momentum up
+14.4%
Win rate 56.8% Excess +6.7%
555d
+23.7%
Win rate 65.5% Excess +17.3%
328d
-11.6%
Win rate 15.2% Excess -0.6%
33d
60-day momentum down
Now
+32.3%
Win rate 81.4% Excess +20.3%
490d
+2.2%
Win rate 42.6% Excess -0.3%
122d
Insufficient data
(0d)

Currently in “Cheap (own-history bottom third) × 60-day momentum down”: across 490 historical days, 120-day forward avg gained 32.3%, win rate 81.4%, beat the market by 20.3%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Market-wide momentum baseline

Across 99,493 liquid US common-stock samples, top-quintile 6-month momentum was followed by an average 60-trading-day return of +6.42%, a 58.4% positive-return rate, and +3.08 percentage points of average excess return versus the S&P 500.

Baseline: weekly samples since 2016 where a liquid US common stock ranked in the top quintile by 126-trading-day momentum. Forward return is 60 trading days; excess return is versus S&P 500 (^GSPC).

Signals not active now

Inactive signals still show the stock-specific historical forward-return distribution for context.

52-week adjusted-price high

Pending

Adjusted close first reaches a 252-trading-day high; repeated hits within 20 days count once.

32 times historically; 60-day forward avg +12.01%, win rate 76.7%, beating the market by +8.49 pts on average.

Method and limits

  • Returns use us_price:adj_close, adjusted for splits and dividends where available.
  • Excess returns use world_index:^GSPC as the S&P 500 benchmark proxy.
  • Quarterly fundamentals are aligned to SEC filing dates before daily valuation studies.
  • The promoted universe starts from active NYSE/NASDAQ common stocks, then applies price and dollar-volume gates.
  • Snapshot-only tables such as analyst consensus, DCF, us_ratios, and us_key_metrics are intentionally excluded from historical evidence.
  • Overlapping event windows are descriptive distributions, not independent samples.

This page is for historical data analysis and education only. It is not investment advice. Backtests and historical return distributions do not predict future performance; evaluate risk independently before trading.