FTNT
Fortinet, Inc.
FTNT has lower modeled downside risk, despite its lower overall score.
PLTR
Palantir Technologies Inc.
PLTR has the edge over FTNT overall, supported by stronger valuation and stronger fundamentals.
FTNT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
FTNT's revenue, profitability, cash flow and balance sheet are all currently healthy.
PLTR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
PLTR's revenue, profitability, cash flow and balance sheet are all currently strong.
FTNT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $130 | — |
| Cheap | 40x | $122 | -5.5% |
| Current | 42x | $130 | — |
| Fair | 54x | $164 | +27% |
| Expensive | 71x | $218 | +68% |
Historical ranges are pointers, not guarantees.
FTNT's PE is in its cheap range at 42x. If earnings grow as analysts expect, today's price would be 34x next year's earnings.
PLTR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 75x | $172 | — |
| Current | 120x | $172 | — |
| Cheap | 165x | $236 | +37% |
| Fair | 251x | $359 | +109% |
| Expensive | 452x | $646 | +277% |
Historical ranges are pointers, not guarantees.
PLTR has the edge over FTNT in the historical PE scenario, which offers more potential upside but is not a forecast.
FTNT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Broad | |
| Moderate |
Analysts expect earnings and revenue growth for FTNT, with profitability improving.
PLTR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for PLTR, with profitability improving.
FTNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.76 | +23% |
| Q3 2026 | $3.07 | +26% |
| Q2 2026 | $2.83 | +13% |
| Q1 2026 | $2.58 | +6.2% |
| Q4 2025 | $2.42 | +7.1% |
| Q3 2025 | $2.43 | +22% |
| Q2 2025 | $2.51 | +48% |
| Q1 2025 | $2.43 | +58% |
| Q4 2024 | $2.26 | +55% |
FTNT's earnings per share have climbed steadily: $3.07 over the past year, up 26% from the year before, and higher year over year every quarter since late 2020.
PLTR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.30 | +61% |
| Q3 2026 | $1.43 | +240% |
| Q2 2026 | $1.17 | +290% |
| Q1 2026 | $0.89 | +287% |
| Q4 2025 | $0.63 | +232% |
| Q3 2025 | $0.42 | +110% |
| Q2 2025 | $0.30 | +76% |
| Q1 2025 | $0.23 | +92% |
| Q4 2024 | $0.19 | +111% |
PLTR has the edge over FTNT on earnings, with stronger typical year-over-year growth.
FTNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.1B | +20% |
| Q2 2026 | $2B | +26% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | $1.9B | +15% |
| Q3 2025 | $1.7B | +14% |
| Q2 2025 | $1.6B | +14% |
| Q1 2025 | $1.5B | +14% |
| Q4 2024 | $1.7B | +17% |
FTNT's revenue has grown year over year every quarter since late 2020: $2.1B last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | +2.2 points |
| Q2 2026 | 34% | +5.6 points |
| Q1 2026 | 31% | +1.9 points |
| Q4 2025 | 33% | -1.7 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 28% | -2.4 points |
| Q1 2025 | 29% | +5.7 points |
| Q4 2024 | 35% | +7.3 points |
FTNT's operating margin was 34% last quarter, up 2.2 points from the same quarter a year ago, near the top of its range since 2019.
PLTR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.3B | +96% |
| Q2 2026 | $1.9B | +93% |
| Q1 2026 | $1.6B | +85% |
| Q4 2025 | $1.4B | +70% |
| Q3 2025 | $1.2B | +63% |
| Q2 2025 | $1B | +48% |
| Q1 2025 | $883.9M | +39% |
| Q4 2024 | $827.5M | +36% |
PLTR has the edge over FTNT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 47% | +14 points |
| Q2 2026 | 47% | +20 points |
| Q1 2026 | 46% | +26 points |
| Q4 2025 | 41% | +40 points |
| Q3 2025 | 33% | +18 points |
| Q2 2025 | 27% | +11 points |
| Q1 2025 | 20% | +7.2 points |
| Q4 2024 | 1.3% | -9.5 points |
PLTR has the edge over FTNT on profitability, with a higher operating margin.
FTNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $881.8M | +55% |
| Q2 2026 | $965.6M | +240% |
| Q1 2026 | $1B | +26% |
| Q4 2025 | $577.4M | +52% |
| Q3 2025 | $567.5M | -0.8% |
| Q2 2025 | $284.1M | -11% |
| Q1 2025 | $796.8M | +31% |
| Q4 2024 | $380M | +131% |
FTNT's free cash flow has been positive every quarter for seven years: $3.4B over the past year, up 69% from the year before.
PLTR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +139% |
| Q2 2026 | $1.2B | +126% |
| Q1 2026 | $891.8M | +193% |
| Q4 2025 | $764M | +67% |
| Q3 2025 | $500.9M | +20% |
| Q2 2025 | $531.6M | +276% |
| Q1 2025 | $304.1M | +140% |
| Q4 2024 | $457.2M | +54% |
PLTR has the edge over FTNT on cash flow, with more consistent year-over-year improvement.
FTNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +2.7M shares |
| 1 year | -2.4% | -18.6M shares |
| 3 years | -6.1% | -48.6M shares |
| 5 years | -11% | -95.9M shares |
| Available history | -15% | -132M shares |
FTNT has the edge over PLTR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $149.8M |
| Q1 2026 | $823M |
| Q4 2025 | $57.2M |
| Q3 2025 | $1.8B |
| Q4 2024 | — |
| Q4 2023 | $896.2M |
| Q3 2023 | $604.3M |
FTNT spent $1B buying back its own shares over the past year.
PLTR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +5.2M shares |
| 1 year | +0.1% | +2.9M shares |
| 3 years | +11% | +248M shares |
| 5 years | +31% | +610M shares |
| Available history | +184% | +1.7B shares |
PLTR has 2.6B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $19.2M |
| Q3 2025 | $19.2M |
| Q2 2025 | $18.6M |
| Q1 2025 | $18M |
| Q4 2024 | $18.6M |
| Q3 2024 | $18.9M |
| Q2 2024 | $17.7M |
| Q1 2024 | $9M |
FTNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -0.9x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.3x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
FTNT has the edge over PLTR on leverage, with a lower net debt burden relative to earnings.
PLTR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -1.9x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -2.3x | Net Cash |
| Q4 2024 | -6.1x | Net Cash |
PLTR has more cash than debt.
FTNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.1 | Neutral |
| Stochastic | 8.9 | Oversold |
FTNT's weekly RSI is 44 (neutral) and its Stochastic is 9 (oversold).
PLTR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.4 | Neutral |
| Stochastic | 47.4 | Neutral |
PLTR's weekly RSI is 51 (neutral) and its Stochastic is 47 (neutral).
FTNT PE vs Technology Sector
| Metric | FTNT | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 28x | 51% above |
| PE % | 20 | 35 | 15 pts below |
FTNT has the edge over PLTR on valuation relative to its sector.
PLTR PE vs Technology Sector
| Metric | PLTR | Sector median | Relative |
|---|---|---|---|
| PE | 120x | 28x | 331% above |
| PE % | 1 | 38 | 37 pts below |
PLTR is trading at 120x earnings, a 331% premium to the Technology sector's median of 28x.
FTNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $160.3 | 19% below |
| 20 week MA | $159.7 | 19% below |
| 50 week MA | $121.6 | 6.5% above |
| 100 week MA | $107.9 | 20% above |
| 200 week MA | $87.1 | 49% above |
FTNT has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 49% above its 200-week average.
PLTR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $185.8 | 7.6% below |
| 20 week MA | $167.6 | 2.4% above |
| 50 week MA | $157.1 | 9.2% above |
| 100 week MA | $143.8 | 19% above |
| 200 week MA | $83.3 | 106% above |
PLTR has the edge over FTNT on trend strength, trading above more of its moving averages.
FTNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.5 | $30.0 | +39% |
| 2021 | $30.0 | $69.8 | +133% |
| 2022 | $69.8 | $48.7 | -30% |
| 2023 | $48.7 | $58.5 | +20% |
| 2024 | $58.5 | $96.1 | +64% |
| 2025 | $96.1 | $81.6 | -15% |
| 2026 YTD | $81.6 | $129.5 | +59% |
FTNT has the edge over PLTR on returns for 2026, with the stronger performance.
PLTR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.20 | $27.8 | +202% |
| 2021 | $27.8 | $18.9 | -32% |
| 2022 | $18.9 | $6.29 | -67% |
| 2023 | $6.29 | $17.2 | +173% |
| 2024 | $17.2 | $79.1 | +361% |
| 2025 | $79.1 | $188.7 | +139% |
| 2026 YTD | $188.7 | $171.6 | -9.1% |
PLTR's yearly returns have swung widely, from +361% in 2024 to −67% in 2022. It's down 9.1% so far in 2026.