Ratio Analysis: Unpacking Fortinet Inc (FTNT)’s Price-to-Cash and Price-to-Free Cash Flow

Ulysses Smith

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After finishing at $83.5 in the prior trading day, Fortinet Inc (NASDAQ: FTNT) closed at $81.6, down -2.28%. In other words, the price has decreased by -$2.28 from its previous closing price. On the day, 7.38 million shares were traded. FTNT stock price reached its highest trading level at $83.22 during the session, while it also had its lowest trading level at $80.25.

Ratios:

Our goal is to gain a better understanding of FTNT by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 19.43 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 29.92. For the most recent quarter (mrq), Quick Ratio is recorded 0.94 and its Current Ratio is at 1.03. In the meantime, Its Debt-to-Equity ratio is 1.35 whereas as Long-Term Debt/Eq ratio is at 0.68.

On September 02, 2025, Morgan Stanley Downgraded its rating to Underweight which previously was Equal-Weight but kept the price unchanged to $67.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 03 ’25 when Xie Ken sold 158,485 shares for $86.51 per share. The transaction valued at 13,710,381 led to the insider holds 51,391,879 shares of the business.

Ohlgart Christiane sold 110 shares of FTNT for $9,515 on Nov 04 ’25. The Chief Financial Officer now owns 6,724 shares after completing the transaction at $86.50 per share. On Nov 03 ’25, another insider, Xie Michael, who serves as the VP, ENGINEERING & CTO of the company, sold 3,546 shares for $86.53 each. As a result, the insider received 306,825 and left with 10,492,018 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, FTNT now has a Market Capitalization of 62527307776 and an Enterprise Value of 58647085056. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 33.60, and their Forward P/E ratio for the next fiscal year is 27.85. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 2.51. For the stock, the TTM Price-to-Sale (P/S) ratio is 9.26 while its Price-to-Book (P/B) ratio in mrq is 82.47. Its current Enterprise Value per Revenue stands at 8.947 whereas that against EBITDA is 27.018.

Stock Price History:

The Beta on a monthly basis for FTNT is 1.06, which has changed by -0.153144 over the last 52 weeks, in comparison to a change of 0.13042927 over the same period for the S&P500. Over the past 52 weeks, FTNT has reached a high of $114.82, while it has fallen to a 52-week low of $70.12. The 50-Day Moving Average of the stock is -2.26%, while the 200-Day Moving Average is calculated to be -12.04%.

Shares Statistics:

The stock has traded on average 5.40M shares per day over the past 3-months and 4658700 shares per day over the last 10 days, according to various share statistics. A total of 742.90M shares are outstanding, with a floating share count of 618.07M. Insiders hold about 16.89% of the company’s shares, while institutions hold 70.02% stake in the company. Shares short for FTNT as of 1764288000 were 22715240 with a Short Ratio of 4.20, compared to 1761868800 on 21065832. Therefore, it implies a Short% of Shares Outstanding of 22715240 and a Short% of Float of 3.6999999999999997.

Earnings Estimates

. The current rating of Fortinet Inc (FTNT) reflects the combined expertise of 38.0 analysts actively engaged in assessing its market performance.The consensus estimate for the next quarter is $0.65, with high estimates of $0.7 and low estimates of $0.61.

Analysts are recommending an EPS of between $2.75 and $2.67 for the fiscal current year, implying an average EPS of $2.69. EPS for the following year is $2.93, with 42.0 analysts recommending between $3.18 and $2.76.

Revenue Estimates

36 analysts predict $1.86B in revenue for. The current quarter. It ranges from a high estimate of $1.89B to a low estimate of $1.85B. As of. The current estimate, Fortinet Inc’s year-ago sales were $1.66BFor the next quarter, 36 analysts are estimating revenue of $1.72B. There is a high estimate of $1.75B for the next quarter, whereas the lowest estimate is $1.7B.

A total of 39 analysts have provided revenue estimates for FTNT’s current fiscal year. The highest revenue estimate was $6.79B, while the lowest revenue estimate was $6.74B, resulting in an average revenue estimate of $6.75B. In the same quarter a year ago, actual revenue was $5.96BBased on 40 analysts’ estimates, the company’s revenue will be $7.51B in the next fiscal year. The high estimate is $7.71B and the low estimate is $7.27B.

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