Quick Read – Fortinet enters Q2 earnings on July 29 with 24 straight quarters without a miss and record free cash flow of $1 billion. – Fortinet’s forward P/E of 52x undercuts Palo Alto’s 78x while Palo Alto still posts a negative operating margin on a trailing basis. – Fortinet…
purchased $823 million in stock last quarter, backed by a $10 billion authorization that functions as a de facto dividend. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Fortinet didn’t make the cut. Grab the names FREE today
Fortinet (NASDAQ:FTNT) heads into Wednesday’s Q2 earnings report with a record few cybersecurity companies can match: 24th consecutive quarter without an earnings miss. The business is generating record free cash flow, and is running a buyback program large enough to function as a de facto dividend. Here are 3 reasons this cybersecurity giant looks appealing ahead of earnings: Product Revenue Just Accelerated 41% Fortinet’s Product revenue reaccelerated to +41% YoY in Q1, and billings jumped 31%, signaling the firewall refresh cycle around FortiOS 8.0 and the FortiGate G Series is live.
In addition, management raised FY26 guidance to $7.71B–$7.87B revenue and $3.10–$3.16 in non-GAAP EPS. The company’s Q1 earnings report drove a +28.17% 30-day move against the S&P 500’s +0.75%, which demonstrates how a strong report on Wednesday could elicit a meaningful market reaction. Fortinet’s $10.25 Billion Share Buyback In Q1 alone, Fortinet repurchased $823 million of stock.