Fortinet Inc chart

Last update: 2022-12-30
Key statistics and financials
Revenue per share 5.12
Dividend & YieldN/A$ (N/A)
Beta 1.16
Market capitalization 40.3B
Operating cash flow 1.57B
ESG Scores 19.1

Company description

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

Sector: Technology - Industry: Software—Infrastructure

Financial Ratios
Quick Ratio1.48
Working Capital0.47
Return On Equity0.78
Debt To Equity1.26
Fixed Asset Ratio0.02
Fixed Interest Cover43.34

Financial data

Financial Statements

Cashflow Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Change To Liabilities 236.2M 467M 522.5M 732.3M
Total Cashflows From Investing Activities -134.9M -502.3M -72.8M -1.33B
Net Borrowings -10.1M -3.7M -4.1M 969.9M
Total Cash From Financing Activities -202.6M -195.6M -1.17B 82.8M
Change To Operating Activities -124.8M -188.8M -113.9M -238M
Issuance Of Stock 86.5M 49.5M 22.1M 26M
Net Income 334.9M 331.7M 488.5M 606.8M
Change In Cash 301.4M 110.1M -160.7M 257.3M
Effect Of Exchange Rate -100k -100k -100k -100k
Total Cash From Operating Activities 638.9M 808M 1.08B 1.5B
Depreciation 55.7M 61.6M 68.8M 84.4M
Change To Account Receivables -82M -96.7M -176.4M -72.5M
Other Cashflows From Financing Activities -300k -300k -1.3M -3.4M
Change To Netincome 161.4M 173.8M 199M 230.2M
Capital Expenditures -53M -92.2M -125.9M -295.9M

Income Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Research Development 244.5M 277.1M 341.4M 424.2M
Income Before Tax 254.3M 386M 541.7M 620.8M
Net Income 334.9M 331.7M 488.5M 606.8M
Selling General Administrative 875.3M 1.03B 1.19B 1.49B
Gross Profit 1.35B 1.66B 2.02B 2.56B
Ebit 234.4M 351M 491.6M 645.8M
Operating Income 234.4M 351M 491.6M 645.8M
Interest Expense -14.9M -14.9M -14.9M -14.9M
Income Tax Expense -80.6M 54.3M 53.2M 14.1M
Total Revenue 1.8B 2.16B 2.59B 3.34B
Cost Of Revenue 450.4M 505.9M 570M 783M
Total Other Income ExpenseNet 19.9M 35M 50.1M -25M
Net Income From Continuing Ops 334.9M 331.7M 488.5M 606.7M
Net Income Applicable To Common Shares 334.9M 331.7M 488.5M 606.8M

Balance Sheet Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Total Liabilities 2.07B 2.54B 3.19B 5.12B
Total Stockholder Equity 1.01B 1.34B 856M 781.7M
Other Current Liabilities 994.1M 1.16B 1.39B 1.78B
Total Assets 3.08B 3.88B 4.04B 5.92B
Common Stock 200k 200k 200k 200k
Other Current Assets
Retained Earnings -57.5M 160.8M -352.1M -467.9M
Treasury Stock -800k 1.1M 700k -4.8M
Cash 1.11B 1.22B 1.06B 1.32B
Total Current Liabilities 1.26B 1.46B 1.83B 2.32B
Other Stockholder Equity -800k 1.1M 700k -4.8M
Property, Plant, and Equipment 271.4M 388.6M 497.3M 752.7M
Total Current Assets 2.22B 2.77B 2.74B 3.6B
Net Tangible Assets 949.9M 1.24B 731.4M 593M
Net Receivables 444.5M 544.3M 720M 807.7M
Accounts Payable 86.4M 96.4M 141.6M 148.4M


Insider Transactions

Here are the insider transactions of stock shares related to Fortinet Inc:

Filer Name Transaction Text Ownership Date Filer Relation Shares
JENSEN KEITH FRANKLINSale at price 53.46 - 55.60 per share.D2022-11-18Chief Financial Officer250
WHITTLE JOHNSale at price 55.00 per share.D2022-11-11Officer3.12k
WHITTLE JOHNConversion of Exercise of derivative security at price 4.77 per share.D2022-11-11Officer3.12k
XIE MICHAELSale at price 53.54 - 55.49 per share.D2022-11-02Chief Technology Officer8.27k
WHITTLE JOHND2022-11-01General Counsel8.52k
JENSEN KEITH FRANKLIND2022-11-01Chief Financial Officer13.15k
XIE KEND2022-11-01Chief Executive Officer39.48k
XIE MICHAELD2022-11-01Chief Technology Officer16.4k
PERCHE PATRICED2022-11-01Officer11.03k
NEUKOM WILLIAM HD2022-09-30Director1.03k
GOLDMAN KENNETH ALLEND2022-09-30Director1.03k
HU JEAN XD2022-09-30Director1.03k
SIM JUDITH KOON LIEND2022-09-30Director1.03k
STAVRIDIS JAMES GD2022-09-30Director1.03k
HSIEH MINGD2022-09-30Director1.03k
JENSEN KEITH FRANKLINSale at price 50.57 per share.D2022-08-25Chief Financial Officer39.44k
JENSEN KEITH FRANKLINConversion of Exercise of derivative security at price 16.90 - 34.39 per share.D2022-08-25Chief Financial Officer39.44k
XIE KENConversion of Exercise of derivative security at price 4.77 per share.D2022-08-18Chief Executive Officer300k
JENSEN KEITH FRANKLINSale at price 52.87 - 53.50 per share.D2022-08-16Chief Financial Officer6.5k
XIE MICHAELSale at price 60.64 per share.D2022-08-02Chief Technology Officer8.27k
WHITTLE JOHND2022-08-01General Counsel8.53k
JENSEN KEITH FRANKLIND2022-08-01Chief Financial Officer13.14k
XIE KEND2022-08-01Chief Executive Officer39.49k
XIE MICHAELD2022-08-01Chief Technology Officer16.4k
PERCHE PATRICED2022-08-01Officer11.04k
NEUKOM WILLIAM HD2022-06-16Director244
GOLDMAN KENNETH ALLEND2022-06-16Director244
HU JEAN XD2022-06-16Director244
SIM JUDITH KOON LIEND2022-06-16Director244
STAVRIDIS JAMES GD2022-06-16Director527
HSIEH MINGD2022-06-16Director244
DUCOURTY KELLYD2022-06-16Director244
JENSEN KEITH FRANKLINSale at price 281.00 - 290.32 per share.D2022-05-25Chief Financial Officer7.89k
JENSEN KEITH FRANKLINConversion of Exercise of derivative security at price 84.49 - 171.93 per share.D2022-05-25Chief Financial Officer7.89k
JENSEN KEITH FRANKLINSale at price 283.43 per share.D2022-05-17Chief Financial Officer1.32k
XIE MICHAELSale at price 244.81 - 261.41 per share.D2022-05-09Chief Technology Officer1.65k
WHITTLE JOHND2022-04-29General Counsel1.7k
JENSEN KEITH FRANKLIND2022-04-29Chief Financial Officer2.63k
XIE KEND2022-04-29Chief Executive Officer7.9k
XIE MICHAELD2022-04-29Chief Technology Officer3.28k
PERCHE PATRICED2022-04-29Officer2.21k
NEUKOM WILLIAM HD2022-03-31Director244
GOLDMAN KENNETH ALLEND2022-03-31Director244
HU JEAN XD2022-03-31Director244
SIM JUDITH KOON LIEND2022-03-31Director244
HSIEH MINGD2022-03-31Director244
DUCOURTY KELLYD2022-03-31Director244
WHITTLE JOHNSale at price 315.50 per share.D2022-03-21General Counsel1.7k
WHITTLE JOHNConversion of Exercise of derivative security at price 84.49 - 171.93 per share.D2022-03-21General Counsel1.7k
JENSEN KEITH FRANKLINSale at price 277.65 - 313.68 per share.D2022-02-24Chief Financial Officer14.45k
JENSEN KEITH FRANKLINConversion of Exercise of derivative security at price 49.06 - 171.93 per share.D2022-02-24Chief Financial Officer17.58k

Insider transaction explanations

Insider buying is the legal purchase of shares by a senior executive or director of a company. "Filer Name" corresponds to the name of the stock buyer or seller. "Transaction Text" describes the transaction. "Ownership" gives information about the transaction type. "Date" is the reported transaction date. "Filer Relation" gives the role of the insider in the company. "Shares" is the value of the transaction. You will find the complete description of the General Transaction Codes on the SEC dedicated page


Investment strategy backtesting

These are the result of three automatic investment systems applied to Fortinet Inc. You will find the performance of an systematic investment system, a momentum strategy, and a buy the dip trading strategy.


Systematic investment results on Fortinet Inc

Here is the result of two systematic investment strategies applied to Fortinet Inc. The first strategy automatically buys the first day of the month, and the second strategy buys the fifteenth day of the month.

Systematic investment equity curve on Fortinet Inc

The following chart shows the equity curve of the two systematic investment strategies applied to Fortinet Inc:

Fortinet Inc automated entries

The systematic investment strategy that buys the first day of the month would give a performance of 240.83% on the backtest period.

Performance at glance

Performance

240.83 %

Latent gain

4098.42 $

Invested capital

1701.81 $

Annualized return

58.74 %
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Momentum strategy results on Fortinet Inc

This is the result of two momentum investment strategies applied to Fortinet Inc. The first strategy uses a momentum signal calculated on one quarter, and the second uses a momentum signal calculated on two quarters.

Momentum entry openings on Fortinet Inc

The following chart shows all the entries opened by the momentum investment system on Fortinet Inc:

Fortinet Inc momentum entries
  • The first momentum investment strategy would give 273.45% of return on Fortinet Inc. That represents 10492.81$ of latent gain with 3837.16$ of employed capital.
  • The second momentum investment strategy would give 319.53% of return on Fortinet Inc. That represents 4417.68$ of latent gain with 1382.55$ of employed capital.
Performance at glance (1Q Momentum)

Performance

273.45 %

Latent gain

10492.81 $

Invested capital

3837.16 $

Annualized return

103.4 %
Performance at glance (2Q Momentum)

Performance

319.53 %

Latent gain

4417.68 $

Invested capital

1382.55 $

Annualized return

88.27 %

Momentum equity curve on Fortinet Inc

The following chart shows the equity curve of the two momentum strategies applied to Fortinet Inc:

Fortinet Inc momentum equity

Note: the dividends potentially given by Fortinet Inc are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Fortinet Inc

The following chart shows the employed capital evolution of the two momentum strategies on Fortinet Inc since the beginning:

Fortinet Inc

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Buy the dip strategy result on Fortinet Inc

Buy the dip entry openings on Fortinet Inc

Fortinet Inc

The performance achieved by the robo-advisor on Fortinet Inc is 217.14%. That represents 2102.47$ of latent gain with 968.24$ of employed capital. The following chart shows Fortinet Inc stock price with all the entries opened by the automated investment system.

Note: The blue line represents the weekly stock price of Fortinet Inc, and the green triangles represent the entry openings. The artificall robo-advisor needs at least 100 weeks of trading history to work.

Performance at glance

Performance

217.14 %

Latent gain

2102.47 $

Invested capital

968.24 $

Annualized return

103.4 %

Equity curve of the strategy applied to Fortinet Inc

The following chart shows the result of the investment strategy applied to Fortinet Inc:

Fortinet Inc

Note: the dividends potentially given by Fortinet Inc are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Fortinet Inc

The following chart shows the employed capital evolution since the beginning of the investment strategy on Fortinet Inc:

Fortinet Inc

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Investment strategies comparison on Fortinet Inc

In this section, I will compare the three previous investment strategies applied to Fortinet Inc.

Equity curve comparison on Fortinet Inc

The following chart shows the equity curve of the artificall advisor, the trend folowing and the automatic investment strategies:

Fortinet Inc investment strategy comparison

Employed capital comparison on Fortinet Inc

Fortinet Inc investment comparison

Performance comparison on Fortinet Inc

Strategy Latent Profit Growth Employed capital CAGR
Automatic investment 240.83% 4098.42$ 1701.81$ 58.74%
Momentum 1 quarter 273.45% 10492.81$ 3837.16$ 70.84%
Momentum 2 quarters 319.53% 4417.68$ 1382.55$ 88.27%
Non-directional 217.14% 2102.47$ 968.24$ 103.4%
Annualized return comparison

Automatic investment

58.74 %

Momentum 1Q

88.27 %

Momentum 2Q

88.27 %

Non-directional

103.4 %

Correlated stocks

Here are the most positively and negatively correlated stocks with Fortinet Inc:

Positive correlations

Most correlated stocks this year

  • Fortinet Inc

  • Most correlated stocks last 3 months

  • TAILAM TECHCON
  • Theseus Pharmaceuticals Inc
  • Fortinet Inc
  • JH EDUCATION

  • Negative correlation

    Most negatively correlated stocks this year


    Most negatively correlated stocks last 3 months

  • Amundi Index Solutions - Amundi MSCI World Energy
  • Lyxor MSCI World Energy TR UCITS ETF - C-EUR
  • Dynatronics Corp
  • iShares U.S. Utilities ETF
  • RSUN PPT

  • Note: The algorithm computes the probability of correlation between Fortinet Inc and the other stocks. There may be false positives or some missing correlated stocks. If the price of Fortinet Inc does not vary for 36 weeks, the correlation calculation result will be wrong.


    Company information

    Company name Fortinet Inc
    Country United States
    City Sunnyvale
    Address 899 Kifer Road
    Phone 408 235 7700
    Website www.fortinet.com
    FullTime employees 12091
    Industry Software—Infrastructure
    Sector Technology
    Exchange XNAS
    Ticker FTNT
    Market www.nasdaq.com

    Fortinet Inc ESG Scores

    Environment scores

    Environment ESG Factors Scores
    Environment Score 1.2
    Peer Environment Performance 1.6194174757282
    Environment Percentile unknown
    Palm Oil no
    Nuclear no
    Fur Leather no
    GMO no
    Coal no
    Pesticides no
    Animal Testing no

    Social scores

    Social ESG Factors Scores
    Social Score 12.2
    Peer Social Performance 9.5473786407767
    Social Percentile unknown
    Highest Controversy 1
    Peer Highest Controversy Performance 1.4857142857143
    Adult no
    Gambling no
    Alcoholic no
    Tobacco no
    Catholic no
    Controversial Weapons no
    Small Arms no
    Military Contract no
    Peer Count yes

    Related Controversy: Customer Incidents


    Governance scores

    Governance ESG Factors Scores
    Governance Score 5.7
    Peer Governance Performance 6.5864077669903
    Governance Percentile unknown

    ESG at glance
    Total ESG Scores: 19.1
    Environment Score: 1.2
    Social Score: 12.2
    Governance Score: 5.7

    ESG Performance: UNDER_PERF

    Peer Group: Software & Services

    Peer Esg Score Performance: 17.753523809524

    Rating Year: 2022

    Rating Month: 8

    Max Age: 86400

    Percentile: 22