Summary
0IR9 Chart
Fortinet Is Down 28% YTD, But Its Free Cash Flow Just Hit a Record $2.21 Billion
A popular name in the Cybersecurity world, Fortinet ( NASDAQ:FTNT ) shares are trading at $77 as of February 25, down 28% from a year ago, and it should go without saying that the business case for optimism is harder to dismiss than the stock chart suggests.
Is Fortinet Entering Its Next Phase?
Fortinet (NASDAQ:FTNT) is not just another entity in the cybersecurity realm; its recent financial outcomes depict a convincing narrative of ongoing growth and profitability within a swiftly advancing market. In the complete fiscal year 2025, the firm reported revenues of $6.80 billion, reflecting a 14% increase from the previous year, while billings rose 16% to $7.55 billion.
Fortinet: Preparing The Growth
Fortinet delivered 13% sales growth in a transitional year, maintaining leadership in firewalls and expanding Unified SASE revenue by 40%. Despite product growth outpacing services, FTNT preserved strong margins and improved working capital, with FCF/share up 19.6% and inventory days down to 98. Guidance calls for 11% service revenue growth and non-GAAP EPS of $2.94–$3, with acceleration expected in 2026 as product sales drive future services.
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Fortinet Inc. Profile
| Transportation Infrastructure Industry | Industrials Sector | Ken Xie CEO | LSE Exchange | US34959E1091 ISIN |
| US Country | 14,556 Employees | - Last Dividend | 23 Jun 2022 Last Split | 18 Nov 2009 IPO Date |
Overview
Fortinet, Inc. is a global provider of comprehensive cybersecurity and network security solutions, aimed at converging networking and security across various platforms. The company's commitment lies in safeguarding organizations worldwide against cyber threats through its wide array of secure networking solutions. Established in 2000, Fortinet has its headquarters located in Sunnyvale, California, and extends its services to enterprise clients, communication and security service providers, government entities, as well as small and medium-sized businesses.
Products and Services
- Secure Networking Solutions: Focused on the integration of networking and security to offer advanced protection.
- Network Firewall Solutions: Includes FortiGate data centers, hyperscale, and distributed firewalls, ensuring secure applications amidst encryption.
- Wireless LAN Solutions: Offers robust wireless local area network access, enabling secure and efficient connectivity.
- Secure Connectivity Solutions: Comprises FortiSwitch secure ethernet switches, FortiAP wireless LAN access points, and FortiExtender 5G connectivity gateways for enhanced network security and connectivity.
- Unified SASE Solutions: A comprehensive suite including firewall, SD-WAN, Secure web gateway, cloud access services broker, data loss prevention, zero trust network access, and cloud security features designed for modern enterprises.
- Security Operations Solutions: Features products like FortiAI generative AI assistant, FortiSIEM, FortiSOAR, FortiEDR, FortiXDR, FortiMDR, FortiNDR, FortiRecon, FortiDeceptor, offering a range from AI-driven security to detection and response capabilities.
- FortiGuard security services: A diverse array of services including application, content, device, NOC/SOC security, and web security services tailored to protect against various digital threats.
- FortiCare Technical Support Services: Offers comprehensive technical support to ensure customers and channel partners maximize the efficiency and protection provided by Fortinet solutions.
- Training Services: Provides educational resources to customers and channel partners, enhancing their capability to manage and respond to cybersecurity challenges effectively.
- FortiGuard Lab: Operates as a premier cybersecurity threat intelligence and research organization, contributing significantly to the development and enhancement of Fortinet's security solutions.
