Market Price

145.80 

-3.80 -2.5%

as of Jul 10 '20

52 Week Range:

70.25 151.95


Stock Analyzer Tutorials

S2O Stock Analyzer - General Info

General Info


type: video (mp4); length: 3:30

Demonstrates how to use Stock Analyzer, shows how to analyze a stock and explains in detail "General Info" section of the Stock Analyzer result page.

S2O Stock Analyzer - Financial Statements

Financial Statements


type: video (mp4); length: 5:10

Explains information presented in the Financial Statements section of the S2O Stock Analyzer: financial statements charts, absolute values and growth rates.

S2O Stock Analyzer - Growth Grade and Financial Ratios

Growth Grade and Financial Ratios


type: video (mp4); length: 5:09

Demonstrates how to use Growth Grade & Financial Ratios section; shows the difference between historical and year-over-year Growth Grade on the real life example.

S2O Stock Analyzer - Value Price

Value Price


type: video (mp4); length: 6:03

Demonstrates how to use Value Price (intrinsic value) and the Graham Number, MOS (margin of safety) and IRT - Investment Recovery Time; explains 3 different projection models used to compute value price - pessimistic, moderate and optimistic.

S2O Stock Analyzer - Price Charts

Price Charts


type: video (mp4); length: 8:34

Demonstrates basic rules of how to read a candlestick chart, long and short term moving averages, stochastic, MACD and relative strength (RS) charts. Explains how bull or bear market condition is computed.

General Info

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers end devices, such as computers and laptops, as well as an expanding field of Internet of things devices; FortiAnalyzer product family, which provides centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products, including software updates, configuration, policy settings, and security updates, as well as FortiAP product family, which provides secure wireless networking solutions. In addition, it provides security subscription, technical support, professional, and training services. The company sells its security solutions to channel partners; and directly to end-customers, including small and medium-sized businesses, large enterprises, and government organizations in a range of industries consisting of telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Fortinet, Inc. provides its products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 2000 and is headquartered in Sunnyvale, California.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

On a charts below the Line shows absolute values and the Bar chart shows Year-Over-Year Growth Rate for selected financial statement item. A consistent GROWTH is generally considered necessary to fund future growth from within a business.
NOTE: Growth Rate is not provided if either the latest period or the year-ago period contains a net loss. (source: WSJ Digest of Earnings)
TIP! move your mouse pointer over bar or a circle on any chart below to see details.

Financial Statements

Income Statement



 

Cash Flow Statement



 

Balance Sheet



 

Liquidity Ratios

Current Ratio


 

Current Ratio measures the ability to meet short term obligations. Generally accepted standard is 2 (current assets should be 2 times or 200% of current liabilities).

Quick Ratio


 

Measures immediate liquidity or the cash available to cover immediate liabilities. A safe margin would be at least 1 (100%).

Financial Leverage


 

Defined as total assets divided by total shareholders' equity. The higher the ratio, the more debt a company uses in its capital structure.

Profitability Ratios

ROA


 

Return on Assets (ROA) measures the income (profit) that is generated by the use of the assets of the business.

ROE


 

Return on Equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders equity. ROE is sometimes called "return on net worth."

ROIC


 

The Return on Invested Capital (ROIC) measure gives a sense of how well a company is using its money to generate returns. Some investors use this figure as a final evaluation to determine whether or not to invest in a company.

Annual Statements

Item Name Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Dec '18 Dec '19
Equity (BVPS) 1.07
1.56
2.04
3.19
3.71
3.90
4.64
4.76
5.37
5.25
6.99
growth rate 45.8% 30.8% 56.4% 16.3% 5.1% 19.0% 2.6% 12.8% -2.2% 33.1%
Earnings BIT 27.51
56.34
92.07
105.00
75.94
56.32
24.18
46.90
110.10
231.00
344.20
growth rate 104.8% 63.4% 14.0% -27.7% -25.8% -57.1% 94.0% 134.8% 109.8% 49.0%
Avg.PE 19.05
61.35
57.14
52.36
72.46
224.03
606.60
201.56
280.33
43.51
45.01
growth rate 222.1% -6.9% -8.4% 38.4% 209.2% 170.8% -66.8% 39.1% -84.5% 3.5%
ROA 20.53
8.84
9.76
7.82
4.13
1.95
0.50
1.64
1.43
12.45
9.38
growth rate -56.9% 10.4% -19.9% -47.2% -52.8% -74.4% 228.0% -12.8% 770.6% -24.7%
ROE 280.85
22.00
21.15
15.38
8.07
4.02
1.12
4.04
4.40
41.54
28.00
growth rate -92.2% -3.9% -27.3% -47.5% -50.2% -72.1% 260.7% 8.9% 844.1% -32.6%
ROIC 274.84
21.29
20.35
14.64
7.44
3.46
0.67
3.35
3.27
39.12
24.87
growth rate -92.3% -4.4% -28.1% -49.2% -53.5% -80.6% 400.0% -2.4% 1,096.3% -36.4%
Cur. Ratio 1.90
1.92
1.96
1.78
1.78
2.11
1.87
1.86
1.67
1.77
1.88
growth rate 1.1% 2.1% -9.2% 0.0% 18.5% -11.4% -0.5% -10.2% 6.0% 6.2%
Quick Ratio 1.74
1.77
1.82
1.63
1.51
1.82
1.70
1.69
1.56
1.67
1.77
growth rate 1.7% 2.8% -10.4% -7.4% 20.5% -6.6% -0.6% -7.7% 7.1% 6.0%
Leverage 2.72
2.35
2.05
1.91
1.99
2.11
2.37
2.55
3.83
3.05
2.94
growth rate -13.6% -12.8% -6.8% 4.2% 6.0% 12.3% 7.6% 50.2% -20.4% -3.6%
Balance Sheet Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Dec '18 Dec '19
Acct.Receivable 54.60
72.30
103.10
121.31
181.45
184.74
259.56
313.00
348.20
444.50
544.30
growth rate 32.4% 42.6% 17.7% 49.6% 1.8% 40.5% 20.6% 11.3% 27.7% 22.5%
Acct.Payable 59.94
72.04
119.40
49.95
61.50
56.73
70.00
86.40
96.40
growth rate 20.2% 65.8% -58.2% 23.1% -7.8% 23.4% 23.4% 11.6%
Cur.Assets 342.20
420.20
523.57
569.27
735.55
1,005.38
1,270.54
1,538.72
1,716.80
2,220.90
2,769.00
growth rate 22.8% 24.6% 8.7% 29.2% 36.7% 26.4% 21.1% 11.6% 29.4% 24.7%
Total Assets 387.20
545.40
734.75
975.50
1,168.46
1,424.77
1,790.51
2,139.94
2,257.90
3,078.00
3,885.50
growth rate 40.9% 34.7% 32.8% 19.8% 21.9% 25.7% 19.5% 5.5% 36.3% 26.2%
Cash 212.50
66.90
71.99
122.98
115.87
283.25
543.28
709.00
811.00
1,112.40
1,222.50
growth rate -68.5% 7.6% 70.8% -5.8% 144.5% 91.8% 30.5% 14.4% 37.2% 9.9%
Inventory 10.60
13.50
16.25
21.06
48.67
69.48
83.87
106.89
77.30
90.00
117.90
growth rate 27.4% 20.4% 29.6% 131.1% 42.8% 20.7% 27.5% -27.7% 16.4% 31.0%
Cur.Liabilities 180.60
218.40
266.86
319.30
413.06
496.46
678.67
829.44
1,027.20
1,256.40
1,473.60
growth rate 20.9% 22.2% 19.7% 29.4% 20.2% 36.7% 22.2% 23.8% 22.3% 17.3%
Liabilities 244.80
313.00
376.39
464.56
582.70
748.81
1,035.13
1,302.26
1,668.50
2,067.80
2,563.60
growth rate 27.9% 20.3% 23.4% 25.4% 28.5% 38.2% 25.8% 28.1% 23.9% 24.0%
LT Debt 0.00 0.00 0.00 0.00
growth rate
Equity 142.50
232.50
358.35
510.93
585.76
675.97
755.38
837.68
589.40
1,010.20
1,321.90
growth rate 63.2% 54.1% 42.6% 14.6% 15.4% 11.8% 10.9% -29.6% 71.4% 30.9%
Common Shares 130.00
156.00
164.00
166.00
168.00
169.00
176.00
176.00
178.00
174.00
175.00
growth rate 20.0% 5.1% 1.2% 1.2% 0.6% 4.1% 0.0% 1.1% -2.3% 0.6%
Cash Flow Statement Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Dec '18 Dec '19
Capital Expenditures 4.60
3.80
3.62
22.08
13.88
32.20
37.36
67.20
135.30
53.00
92.20
growth rate -17.4% -4.6% 509.4% -37.2% 132.0% 16.0% 79.9% 101.3% -60.8% 74.0%
Cash Dividends 0.00 0.00 0.00 0.00
growth rate
Cash From OA 62.00
103.40
132.84
183.87
147.38
196.58
282.55
345.70
594.40
638.90
808.00
growth rate 66.8% 28.5% 38.4% -19.8% 33.4% 43.7% 22.4% 71.9% 7.5% 26.5%
FCF per Share 0.44
0.64
0.84
0.97
0.85
1.03
1.23
1.44
2.24
3.22
4.23
growth rate 45.5% 31.3% 15.5% -12.4% 21.2% 19.4% 17.1% 55.6% 43.8% 31.4%
Sale Purchase of Stock 19.97
38.09
-7.95
55.32
67.31
44.86
75.87
growth rate 90.7% -100.0% 100.0% 21.7% -33.4% 69.1%
FCF 57.00
100.00
129.00
162.00
134.00
164.00
245.00
279.00
459.00
585.00
715.00
growth rate 75.4% 29.0% 25.6% -17.3% 22.4% 49.4% 13.9% 64.5% 27.5% 22.2%
Income Statement Dec '09 Dec '10 Dec '11 Dec '12 Dec '13 Dec '14 Dec '15 Dec '16 Dec '17 Dec '18 Dec '19
Sales 252.10
324.70
433.58
533.64
615.30
770.36
1,009.27
1,275.40
1,494.90
1,801.20
2,156.20
growth rate 28.8% 33.5% 23.1% 15.3% 25.2% 31.0% 26.4% 17.2% 20.5% 19.7%
Op.Income 25.30
55.30
62.49
66.84
44.27
56.32
24.18
46.90
110.10
231.00
344.20
growth rate 118.6% 13.0% 7.0% -33.8% 27.2% -57.1% 94.0% 134.8% 109.8% 49.0%
IBT 27.50
56.30
92.07
105.00
75.94
61.55
17.01
43.10
124.00
250.90
379.20
growth rate 104.7% 63.5% 14.0% -27.7% -19.0% -72.4% 153.5% 187.7% 102.3% 51.1%
Net Income 60.20
41.20
62.49
66.84
44.27
25.34
7.99
32.20
31.40
332.20
326.50
growth rate -31.6% 51.7% 7.0% -33.8% -42.8% -68.5% 303.2% -2.5% 958.0% -1.7%
EPS 0.39
0.26
0.38
0.40
0.26
0.15
0.05
0.18
0.18
1.91
1.87
growth rate -33.3% 46.2% 5.3% -35.0% -42.3% -66.7% 260.0% 0.0% 961.1% -2.1%
Gross Profit 182.10
239.50
319.98
386.22
434.65
539.36
722.49
937.60
1,109.60
1,350.80
1,650.30
growth rate 31.5% 33.6% 20.7% 12.5% 24.1% 34.0% 29.8% 18.3% 21.7% 22.2%
R&D 42.20
49.80
63.58
81.08
102.66
125.88
158.13
183.10
210.60
244.50
277.10
growth rate 18.0% 27.7% 27.5% 26.6% 22.6% 25.6% 15.8% 15.0% 16.1% 13.3%

Quarterly Statements

Item Name Mar '19 Jun '19 Sep '19 Dec '19 Mar '20
Earnings BIT 50.60
75.20
100.00
118.40
79.10
growth rate 48.6% 33.0% 18.4% -33.2%
Balance Sheet Mar '19 Jun '19 Sep '19 Dec '19 Mar '20
Acct.Receivable 381.00
403.10
384.10
544.30
479.40
growth rate 5.8% -4.7% 41.7% -11.9%
Acct.Payable 69.20
72.40
85.90
96.40
87.80
growth rate 4.6% 18.7% 12.2% -8.9%
Cur.Assets 2,313.30
2,360.70
2,466.20
2,769.00
2,035.30
growth rate 2.1% 4.5% 12.3% -26.5%
Total Assets 3,205.70
3,369.40
3,545.60
3,885.50
3,206.20
growth rate 5.1% 5.2% 9.6% -17.5%
Cash 1,216.90
1,022.10
1,175.50
1,222.50
626.10
growth rate -16.0% 15.0% 4.0% -48.8%
Inventory 88.40
85.70
99.20
117.90
105.00
growth rate -3.1% 15.8% 18.9% -10.9%
Cur.Liabilities 1,254.30
1,293.70
1,341.90
1,473.60
1,543.00
growth rate 3.1% 3.7% 9.8% 4.7%
Liabilities 2,147.60
2,247.10
2,345.20
2,563.60
2,669.90
growth rate 4.6% 4.4% 9.3% 4.2%
LT Debt 27.50
growth rate
Equity 1,058.10
1,122.30
1,200.40
1,321.90
536.30
growth rate 6.1% 7.0% 10.1% -59.4%
Common Shares 0.20
0.20
0.20
0.20
0.20
growth rate 0.0% 0.0% 0.0% 0.0%
Cash Flow Statement Mar '19 Jun '19 Sep '19 Dec '19 Mar '20
Capital Expenditures 10.20
17.30
17.50
47.20
27.60
growth rate 69.6% 1.2% 169.7% -41.5%
Cash Dividends
growth rate
Cash From OA 201.30
195.10
221.20
190.40
319.40
growth rate -3.1% 13.4% -13.9% 67.8%
Sale Purchase of Stock
growth rate
FCF 191.10
177.80
203.70
143.20
291.80
growth rate -7.0% 14.6% -29.7% 103.8%
Income Statement Mar '19 Jun '19 Sep '19 Dec '19 Mar '20
Sales 472.60
521.70
547.50
614.40
576.90
growth rate 10.4% 5.0% 12.2% -6.1%
Op.Income 50.60
75.20
100.00
118.40
79.10
growth rate 48.6% 33.0% 18.4% -33.2%
IBT 60.30
85.80
105.40
127.70
117.10
growth rate 42.3% 22.8% 21.2% -8.3%
Net Income 58.80
72.70
79.80
115.20
104.00
growth rate 23.6% 9.8% 44.4% -9.7%
EPS
growth rate
Gross Profit 359.60
393.40
423.40
473.90
448.20
growth rate 9.4% 7.6% 11.9% -5.4%
R&D 68.60
67.40
69.90
71.20
80.30
growth rate -1.8% 3.7% 1.9% 12.8%

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

A+ (91.93)

YOY Growth Grade:

B (66.74)

Click on buttons above for detailed yearly growth rates.

Market Ratios

Profitability Ratios

Liquidity Ratios

Efficiency Ratios

Value Price

PE and EPS

Historical Current Forward
PE 45.01 64.63 38.32
EPS / Growth 19.7% 2.26 23.8%

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 22.0%

Estimates Pessimistic Moderate Optimistic My Numbers
Rate of Return 15.0%
MOS Price % 50 %
Future EPS Growth 19.7% 21.8% 21.8%
Future PE 38.32 42.31 42.31
Future EPS 13.63 16.21 16.21
Value Price
MOS %
129.14
-11.4%
169.54
16.3%
169.54
16.3%
MOS Price 64.57 84.77 84.77
IRT 13.62 12.82 12.82

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

Price Chart

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Risk / Reward Ratios

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