Fortinet Stock Outperforms S&P 500 with Massive Decade Returns

Key Facts

1Fortinet delivered a return of $24,579 for every $1,000 invested over a decade, significantly outperforming the S&P 500.

2The company's valuation stands at 63x trailing earnings, with a non-GAAP operating margin of 38%.

Fortinet delivered a return of $24,579 for every $1,000 invested over the last decade, significantly outperforming the S&P 500 index. 24/7 Wall St reported that the company saw product revenue rise 52% and billings climb 33%, leading management to raise full-year revenue guidance to between $8.02 billion and $8.18 billion as firms upgrade security for AI workloads and ransomware threats.

FTNT closed at $180.95 on October 2, 2026, a level that sits above the average analyst price target of $164.32, with the stock currently trading at 63x trailing earnings. According to Yahoo Finance, the company maintained a non-GAAP operating margin of 38% and generated record free cash flow of $2.21 billion during the 2025 fiscal year.