Fortinet
Provider of network security appliances that include firewalls, security gateways, and complementary products.
Launch date
Employees
Market cap
€51.9b
Enterprise valuation
€49.8b (Public information from Sep 2024)
Share price
$75.61 FTNT
Sunnyvale California (HQ)
Financials
Estimates*
| USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenues | 2.6b | 3.3b | 4.4b | 5.3b | 5.9b | 6.6b | 7.4b |
| % growth | 20 % | 29 % | 32 % | 20 % | 10 % | 12 % | 13 % |
| EBITDA | 560m | 728m | 1.1b | 1.5b | 1.9b | 2.1b | 2.4b |
| % EBITDA margin | 22 % | 22 % | 24 % | 28 % | 32 % | 32 % | 33 % |
| Profit | 489m | 607m | 857m | 1.1b | 1.4b | 1.5b | 1.7b |
| % profit margin | 19 % | 18 % | 19 % | 22 % | 23 % | 23 % | 23 % |
| EV / revenue | 8.6x | 17.1x | 8.4x | 8.2x | 9.5x | 8.2x | 7.0x |
| EV / EBITDA | 39.8x | 78.6x | 34.3x | 29.7x | 29.2x | 25.4x | 21.4x |
| R&D budget | 341m | 424m | 512m | 614m | - | - | - |
| R&D % of revenue | 13 % | 13 % | 12 % | 12 % | - | - | - |
Source: Dealroom estimates
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
$9.0m | Series B | ||
| N/A | $30.0m | Series D | |
| N/A | $50.0m | Series E | |
| N/A | N/A | IPO | |
* | $35.6m | Post IPO Equity | |
| Total Funding | €80.9m | ||
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BUYOUT by TPG Jan 2021
ACQUISITION by Fortinet Oct 2019
ACQUISITION by Fortinet Dec 2019
ACQUISITION by Fortinet Apr 2011
ACQUISITION by Fortinet Aug 2009
ACQUISITION by Fortinet Jun 2018
ACQUISITION by Fortinet Dec 2020
ACQUISITION by Fortinet Jun 2016
ACQUISITION by Fortinet Jun 2024