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"role": "CEO", "code": "S", "shares": 12821.0, "price": 145.04, "value": 1859557.8399999999, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000012/" }, { "txn_date": "2026-06-02", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 37540.0, "price": 146.36, "value": 5494354.4, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000012/" }, { "txn_date": "2026-06-02", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 13790.0, "price": 147.37, "value": 2032232.3, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000012/" }, { "txn_date": "2026-06-02", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 8627.0, "price": 148.94, "value": 1284905.38, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000012/" }, { "txn_date": "2026-06-02", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 18492.0, "price": 148.24, "value": 2741254.08, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000012/" }, { "txn_date": "2026-05-21", "insider_name": "Whittle John", "role": "COO", "code": "S", "shares": 4216.0, "price": 129.55, "value": 546182.8, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147633626000010/" }, { "txn_date": "2026-05-21", "insider_name": "Whittle John", "role": "COO", "code": "S", "shares": 86820.0, "price": 128.15, "value": 11125983.0, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147633626000010/" }, { "txn_date": "2026-05-21", "insider_name": "Whittle John", "role": "COO", "code": "S", "shares": 54979.0, "price": 128.74, "value": 7077996.460000001, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147633626000010/" }, { "txn_date": "2026-05-20", "insider_name": "Ohlgart Christiane", "role": "CFO", "code": "S", "shares": 238.0, "price": 130.0, "value": 30940.0, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000201681326000016/" }, { "txn_date": "2026-05-14", "insider_name": "Ohlgart Christiane", "role": "CFO", "code": "S", "shares": 756.0, "price": 120.0, "value": 90720.0, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000201681326000014/" }, { "txn_date": "2026-05-11", "insider_name": "Ohlgart Christiane", "role": "CFO", "code": "S", "shares": 238.0, "price": 115.0, "value": 27370.0, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000201681326000012/" }, { "txn_date": "2026-05-07", "insider_name": "Ohlgart Christiane", "role": "CFO", "code": "S", "shares": 756.0, "price": 110.0, "value": 83160.0, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000201681326000010/" }, { "txn_date": "2026-05-05", "insider_name": "Ohlgart Christiane", "role": "CFO", "code": "S", "shares": 596.0, "price": 89.7, "value": 53461.200000000004, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000201681326000008/" }, { "txn_date": "2026-05-04", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 4383.0, "price": 89.12, "value": 390612.96, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000010/" }, { "txn_date": "2026-05-04", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 425.0, "price": 88.09, "value": 37438.25, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000010/" }, { "txn_date": "2026-05-04", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 410.0, "price": 87.04, "value": 35686.4, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000010/" }, { "txn_date": "2026-05-04", "insider_name": "Xie Ken", "role": "CEO", "code": "S", "shares": 137.0, "price": 89.61, "value": 12276.57, "is_10b5_1": 0, "source_url": "https://www.sec.gov/Archives/edgar/data/1262039/000147558726000010/" } ], "links": { "sec_filings": "https://www.sec.gov/edgar/browse/?CIK=0001262039", "sec_xbrl_companyfacts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001262039.json", "sec_form4": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001262039&type=4", "sec_8k": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001262039&type=8-K", "yahoo": "https://finance.yahoo.com/quote/FTNT", "stooq": "https://stooq.com/q/d/?s=ftnt.us", "external_views_link_only": { "morningstar": "https://www.morningstar.com/search?query=FTNT", "finviz": "https://finviz.com/quote.ashx?t=FTNT", "stockanalysis": "https://stockanalysis.com/stocks/ftnt/", "seeking_alpha": "https://seekingalpha.com/symbol/FTNT", "openinsider": "http://openinsider.com/search?q=FTNT", "google_news": "https://news.google.com/rss/search?q=FTNT+stock" } }, "machine_readable": { "json": "https://theclaudetrader.com/s/FTNT.json", "markdown": "https://theclaudetrader.com/s/FTNT.md", "research_packet": "https://theclaudetrader.com/r/FTNT.json", "index": "https://theclaudetrader.com/llms.txt" }, "dossier": null, "cite_as": "The Claude Trader snapshot 2026-10-26, https://theclaudetrader.com/s/FTNT; data from SEC EDGAR XBRL and market prices (Alpaca Market Data, Yahoo Finance) to 2026-10-23.", "disclaimer": "Scores are deterministic rule outputs from public filings. fair_value_model is a labelled model estimate from the same filings (method at /fair-value), not an opinion or recommendation.", "fair_value_model": { "fair_value": 63.73, "fv_low": 10.73, "fv_high": 80.62, "fv_gap_pct": -64.6, "fv_verdict": "red", "fv_methods": 3, "fv_as_of": "2026-10-23", "fv_calculated_on": "2026-10-26", "fv_inputs_through": "2026-07-30", "fv_skipped": null, "unit": "per traded unit (share or ADS), same currency as the price", "methods": { "dcf": { "value": 63.725222555893865, "growth_used": 0.1, "fcf_avg": 1945466666.6666667, "inputs": { "fcf": { "value": 1945466666.6666667, "years": [ 2023, 2024, 2025 ], "by_year": [ 1731400000.0, 1879200000.0, 2225800000.0 ], "cfo": [ { "value": 1935500000.0, "tag": "SEC XBRL NetCashProvidedByUsedInOperatingActivities", "period_end": "2023-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" }, { "value": 2258100000.0, "tag": "SEC XBRL NetCashProvidedByUsedInOperatingActivities", "period_end": "2024-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" }, { "value": 2590600000.0, "tag": "SEC XBRL NetCashProvidedByUsedInOperatingActivities", "period_end": "2025-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" } ], "capex": [ { "value": 204100000.0, "tag": "SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback)", "period_end": "2023-12-31", "accession": "0001262039-26-000007", "filed": "2026-02-25", "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" }, { "value": 378900000.0, "tag": "SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback)", "period_end": "2024-12-31", "accession": "0001262039-26-000007", "filed": "2026-02-25", "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" }, { "value": 364800000.0, "tag": "SEC XBRL PaymentsToAcquireProductiveAssets (10-K via companyfacts; capex fallback)", "period_end": "2025-12-31", "accession": "0001262039-26-000007", "filed": "2026-02-25", "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" } ] }, "revenue_cagr_5y": { "value": 0.21252104718544174, "from": { "value": 2594400000.0, "tag": "SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax", "period_end": "2020-12-31", "accession": "0001262039-23-000010", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203923000010/" }, "to": { "value": 6799600000.0, "tag": "SEC XBRL RevenueFromContractWithCustomerExcludingAssessedTax", "period_end": "2025-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/" } }, "shares": { "value": 733713653.0, "tag": "SEC cover page 10-Q 0001262039-26-000021 (733,713,653 shares (single class on cover)); filing document https://www.sec.gov/Archives/edgar/data/1262039/000126203926000021/ftnt-20260630.htm", "period_end": "2026-07-28", "accession": "0001262039-26-000021", "filed": "2026-07-30", "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000021/R1.htm" } } }, "earnings": { "value": 80.62415455044864, "pe_used": 33.3157663431606, "pe_raw": 33.3157663431606, "pe_basis": "SIC 35 peer median excluding itself (30 peers)", "inputs": { "eps": { "fy": 2025, "value": 2.42, "tag": "SEC XBRL EarningsPerShareDiluted", "period_end": "2025-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/", "value_reported": 2.42, "split_factor": 1.0 } } }, "graham": { "value": 10.728908480575038, "inputs": { "eps": { "fy": 2025, "value": 2.42, "tag": "SEC XBRL EarningsPerShareDiluted", "period_end": "2025-12-31", "accession": "0001262039-26-000007", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000007/", "value_reported": 2.42, "split_factor": 1.0 }, "bvps": { "value": 2.114039985023967, "equity": { "value": 1551100000.0, "tag": "SEC XBRL StockholdersEquity", "period_end": "2026-06-30", "accession": "0001262039-26-000021", "filed": null, "url": "https://www.sec.gov/Archives/edgar/data/1262039/000126203926000021/" }, "shares": 733713653.0 } } } }, "method_note": "Median of up to three methods from SEC filings: owner-earnings DCF (3-yr avg FCF, 10-yr two-stage, growth = min(5-yr revenue CAGR, 10%) fading to 2.5%, 9% discount), trailing EPS x SIC-peer median P/E (8-35), Graham number. Model estimate, not advice.", "discount_rate": 0.09, "terminal_growth": 0.025, "verdict_rule": "green: fair value more than 10% above price; red: more than 10% below; amber: within 10%", "page": "https://theclaudetrader.com/fair-value" } }