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Fortinet forward PE FTNT

Share price divided by analysts' consensus earnings for the next twelve months, since 2009.

Today, Oct 23, 2026
51.1×
10-year median
39.9×
Against its 10-year history
87th
percentile: 0 is its lowest day, 100 its highest
10-year range
24.7× to 84.4×
Peer median
52.2×

Fortinet's forward PE is 51.1× as of Oct 23, 2026.

That is above its ten-year median of 39.9×, higher than on 87% of days in the last ten years.

Over that time it ranged from 24.7× in Apr 2026 to 84.4× in Oct 2021.

The median for 10 infrastructure software stocks of a similar size is 52.2×.

Forward PE over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far51.1×24.7×55.3×
202527.5×26.6×44.7×
202440.7×27.4×42.1×
202333.6×29.0×51.8×
202235.3×34.0×70.8×
202180.9×41.1×84.4×
202042.2×28.5×46.5×
201940.7×31.5×43.3×
201837.1×34.5×54.6×
201738.0×33.7×49.4×
201639.8×38.6×185×
2015202×88.0×238×
201489.4×48.1×89.4×
201347.3×38.6×55.1×
201246.6×40.7×56.9×
201148.4×39.9×78.5×
201062.9×41.0×74.2×
200964.9×62.4×67.9×

Against its peers

Companies in Software - Infrastructure nearest Fortinet's size, closest first, today.

CompanyForward PE
FTNTFortinet51.1×
NETCloudflare220×
SNPSSynopsys24.5×
CRWDCrowdStrike182×
PANWPalo Alto Networks90.9×
XYZBlock16.7×
ORCLOracle14.8×
ZSZscaler52.3×
TWLOTwilio42.3×
OKTAOkta52.2×
PLTRPalantir Technologies104×
Peer median52.2×

Where Fortinet ranks

What the forward PE tells you

Price divided by what analysts expect the company to earn over the next twelve months. It answers "what am I paying for next year" instead of last year.

Estimates are opinions. When forward PE is far below trailing PE, analysts expect a big jump in earnings. If that jump slips, the stock was not as cheap as it looked.

More on Fortinet

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.