Fortinet price to sales ratio FTNT

Market value divided by revenue over the last twelve months, since 2012.

Today, Oct 23, 2026: 17.5×
10-year median: 9.4×
Against its 10-year history: 98th; percentile: 0 is its lowest day, 100 its highest
10-year range: 4.2× to 19.1×
Peer median: 12.3×

Fortinet's price to sales ratio is 17.5× as of Oct 23, 2026.

That is above its ten-year median of 9.4×, higher than on 98% of days in the last ten years.

Over that time it ranged from 4.2× in Dec 2016 to 19.1× in Nov 2021.

The median for 10 infrastructure software stocks of a similar size is 12.3×.

Price to sales ratio over time

median 9.4×

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

Year	End of year	Low	High
2026 so far	17.5×	8.3×	19.0×
2025	9.3×	8.9×	15.0×
2024	12.9×	8.0×	13.3×
2023	8.7×	7.5×	13.1×
2022	9.3×	9.3×	17.0×
2021	18.8×	9.6×	19.1×
2020	9.8×	6.6×	10.4×
2019	9.0×	6.6×	9.0×
2018	7.0×	5.3×	9.6×
2017	5.3×	4.4×	5.4×
2016	4.3×	4.2×	5.7×
2015	5.7×	5.6×	10.0×
2014	7.1×	5.1×	7.1×
2013	5.2×	4.7×	7.6×
2012	6.7×	5.8×	9.1×

Against its peers

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

Company	Price to sales ratio
FTNTFortinet	17.5×
NETCloudflare	46.2×
SNPSSynopsys	8.8×
CRWDCrowdStrike	48.9×
PANWPalo Alto Networks	27.1×
XYZBlock	1.8×
ORCLOracle	5.3×
ZSZscaler	12.4×
TWLOTwilio	7.2×
OKTAOkta	12.1×
PLTRPalantir Technologies	76.8×
Peer median	12.3×

What the price to sales ratio tells you

Market value divided by revenue over the last twelve months. Useful for companies with little or no profit yet, since sales are harder to make negative than earnings.

Ignores margins entirely. A software company at 10× sales with 30% margins can be cheaper than a grocer at 1× sales with 2% margins.

More on Fortinet

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.