Fortinet Inc
- Industry
- AI Cybersecurity
- Exchange
- US
- Country
- USA
- IPO date
- Nov 18, 2009
- Employees
- 15,311
- Website
- www.fortinet.com
Composite valuation range · conservative $50–$65 / fair $75–$95 / optimistic $110–$130. At $152.38, Above the optimistic ceiling · future growth overdrawn.
At publication $129.46 (May 22, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.
History
Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California, with co-founders Ken Xie serving as CEO and director since 2000 and Michael Xie as President/CTO and director. The company completed its IPO on November 18, 2009. It has executed share repurchases continuously since 2016, and in recent years acquired Lacework and Linksys. In March 2026 Fortinet repaid its $500 million notes due 2026, leaving mainly its 2031 notes outstanding.
Industry position
Fortinet is a cybersecurity platform company centered on the convergence of networking and security, organizing its business into Secure Networking, Unified SASE, and AI-driven SecOps and serving customers in over 100 countries across finance, retail, healthcare, OT, service providers, and government. In 2025 it generated revenue of about $6.80 billion, split between product revenue of roughly $2.218 billion and service revenue of about $4.581 billion (67% services). Its 10-K names competitors including Check Point, Cisco, CrowdStrike, F5, HPE, Huawei, Microsoft, Netskope, Palo Alto Networks, Sophos, and Zscaler. The company employs 15,311 people and sells through a two-tier distribution model.