Comprehensive Stock Comparison
Compare Fortinet, Inc. (FTNT) vs Apple Inc. (AAPL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FTNT | 14.2% revenue growth vs AAPL's 6.4% |
| Value | FTNT | Lower P/E (26.6x vs 31.1x), PEG 0.80 vs 1.74 |
| Quality / Margins | FTNT | 27.3% net margin vs AAPL's 27.0% |
| Stability / Safety | FTNT | Beta 1.23 vs AAPL's 1.28, lower leverage |
| Dividends | AAPL | 0.4% yield; 14-year raise streak; FTNT pays no meaningful dividend |
| Momentum (1Y) | AAPL | +9.7% vs FTNT's -26.8% |
| Efficiency (ROA) | AAPL | 31.1% ROA vs FTNT's 17.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Fortinet is a cybersecurity company that provides integrated network security solutions through hardware appliances, software, and cloud services. It generates revenue primarily from selling security hardware like firewalls (~60% of product revenue) and software subscriptions/services (~40% of total revenue) including support, cloud security, and software-as-a-service offerings. The company's key advantage is its Security Fabric architecture—a unified platform approach that integrates various security functions across networks, endpoints, and clouds, creating switching costs and operational efficiencies for customers.
Apple is a technology giant that designs and sells premium consumer electronics — most famously the iPhone — along with related software and services. It generates revenue primarily from hardware sales (roughly 80% of total) and a fast-growing services segment (around 20%) that includes the App Store, subscriptions, and licensing. Its key competitive advantage is a powerful ecosystem that locks users into its hardware, software, and services through seamless integration and high switching costs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FTNT leads in 2 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 3 categories are tied.
Financial Metrics (TTM)
AAPL is the larger business by revenue, generating $435.6B annually — 64.1x FTNT's $6.8B. Profitability is closely matched — net margins range from 27.3% (FTNT) to 27.0% (AAPL).
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| RevenueTrailing 12 months | $6.8B | $435.6B |
| EBITDAEarnings before interest/tax | $2.2B | $152.9B |
| Net IncomeAfter-tax profit | $1.9B | $117.8B |
| Free Cash FlowCash after capex | $2.2B | $123.3B |
| Gross MarginGross profit ÷ Revenue | +80.8% | +47.3% |
| Operating MarginEBIT ÷ Revenue | +30.6% | +32.4% |
| Net MarginNet income ÷ Revenue | +27.3% | +27.0% |
| FCF MarginFCF ÷ Revenue | +32.7% | +28.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | +14.8% | +15.7% |
| EPS Growth (YoY)Latest quarter vs prior year | 0.0% | +18.3% |
Valuation Metrics
At 32.5x trailing earnings, FTNT trades at a 8% valuation discount to AAPL's 35.4x P/E. Adjusting for growth (PEG ratio), FTNT offers better value at 0.98x vs AAPL's 1.98x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| Market CapShares × price | $58.8B | $3.88T |
| Enterprise ValueMkt cap + debt − cash | $57.3B | $3.97T |
| Trailing P/EPrice ÷ TTM EPS | 32.52x | 35.41x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.56x | 31.15x |
| PEG RatioP/E ÷ EPS growth rate | 0.98x | 1.98x |
| EV / EBITDAEnterprise value multiple | 25.64x | 27.45x |
| Price / SalesMarket cap ÷ Revenue | 8.64x | 9.33x |
| Price / BookPrice ÷ Book value/share | 47.77x | 53.76x |
| Price / FCFMarket cap ÷ FCF | 26.40x | 39.33x |
Profitability & Efficiency
FTNT delivers a 149.8% return on equity — every $100 of shareholder capital generates $150 in annual profit, vs $134 for AAPL. FTNT carries lower financial leverage with a 0.81x debt-to-equity ratio, signaling a more conservative balance sheet compared to AAPL's 1.67x.
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +149.8% | +133.5% |
| ROA (TTM)Return on assets | +17.8% | +31.1% |
| ROICReturn on invested capital | — | +64.5% |
| ROCEReturn on capital employed | +37.7% | +69.6% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 |
| Debt / EquityFinancial leverage | 0.81x | 1.67x |
| Net DebtTotal debt minus cash | -$1.5B | $89.7B |
| Cash & Equiv.Liquid assets | $2.5B | $33.5B |
| Total DebtShort + long-term debt | $996M | $123.3B |
| Interest CoverageEBIT ÷ Interest expense | 112.99x | — |
Total Returns (with DRIP)
A $10,000 investment in FTNT five years ago would be worth $22,808 today (with dividends reinvested), compared to $21,049 for AAPL. Over the past 12 months, AAPL leads with a +9.7% total return vs FTNT's -26.8%. The 3-year compound annual growth rate (CAGR) favors AAPL at 21.9% vs FTNT's 10.0% — a key indicator of consistent wealth creation.
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +1.5% | -2.4% |
| 1-Year ReturnPast 12 months | -26.8% | +9.7% |
| 3-Year ReturnCumulative with dividends | +33.0% | +81.2% |
| 5-Year ReturnCumulative with dividends | +128.1% | +110.5% |
| 10-Year ReturnCumulative with dividends | +1291.4% | +1027.4% |
| CAGR (3Y)Annualised 3-year return | +10.0% | +21.9% |
Risk & Volatility
FTNT is the less volatile stock with a 1.23 beta — it tends to amplify market swings less than AAPL's 1.28 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. AAPL currently trades 91.5% from its 52-week high vs FTNT's 71.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.23x | 1.28x |
| 52-Week HighHighest price in past year | $110.67 | $288.61 |
| 52-Week LowLowest price in past year | $70.12 | $169.21 |
| % of 52W HighCurrent price vs 52-week peak | +71.4% | +91.5% |
| RSI (14)Momentum oscillator 0–100 | 47.1 | 57.5 |
| Avg Volume (50D)Average daily shares traded | 5.6M | 40.9M |
Analyst Outlook
Wall Street rates FTNT as "Hold" and AAPL as "Buy". Consensus price targets imply 14.7% upside for AAPL (target: $303) vs 8.5% for FTNT (target: $86). AAPL is the only dividend payer here at 0.39% yield — a key consideration for income-focused portfolios.
| Metric | FTNTFortinet, Inc. | AAPLApple Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $85.71 | $303.11 |
| # AnalystsCovering analysts | 67 | 109 |
| Dividend YieldAnnual dividend ÷ price | — | +0.4% |
| Dividend StreakConsecutive years of raises | — | 14 |
| Dividend / ShareAnnual DPS | — | $1.03 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.9% | +2.3% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Fortinet, Inc. (FTNT) | 100 | 398.29 | +298.3% |
| Apple Inc. (AAPL) | 100 | 395.1 | +295.1% |
Fortinet, Inc. (FTNT) returned +128% over 5 years vs Apple Inc. (AAPL)'s +110%. A $10,000 investment in FTNT 5 years ago would be worth $22,808 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortinet, Inc. (FTNT) | $1.3B | $6.8B | +433.1% |
| Apple Inc. (AAPL) | $215.6B | $416.2B | +93.0% |
Fortinet, Inc.'s revenue grew from $1.3B (2016) to $6.8B (2025) — a 20.4% CAGR. Apple Inc.'s revenue grew from $215.6B (2016) to $416.2B (2025) — a 7.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortinet, Inc. (FTNT) | 2.5% | 27.3% | +979.6% |
| Apple Inc. (AAPL) | 21.2% | 26.9% | +27.0% |
Fortinet, Inc.'s net margin went from 3% (2016) to 27% (2025). Apple Inc.'s net margin went from 21% (2016) to 27% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Fortinet, Inc. (FTNT) | 242.8 | 32.7 | -86.5% |
| Apple Inc. (AAPL) | 18.4 | 36.4 | +97.8% |
Fortinet, Inc. has traded in a 33x–243x P/E range over 9 years; current trailing P/E is ~33x. Apple Inc. has traded in a 13x–41x P/E range over 9 years; current trailing P/E is ~35x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Fortinet, Inc. (FTNT) | 0.04 | 2.43 | +6650.0% |
| Apple Inc. (AAPL) | 2.08 | 7.46 | +258.7% |
Fortinet, Inc.'s EPS grew from $0.04 (2016) to $2.43 (2025) — a 60% CAGR. Apple Inc.'s EPS grew from $2.08 (2016) to $7.46 (2025) — a 15% CAGR.
Chart 6Free Cash Flow — 5 Years
Fortinet, Inc. generated $2B FCF in 2025 (+85% vs 2021). Apple Inc. generated $99B FCF in 2025 (+6% vs 2021).
FTNT vs AAPL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FTNT or AAPL a better buy right now?
Fortinet, Inc. (FTNT) offers the better valuation at 32.5x trailing P/E (26.6x forward), making it the more compelling value choice. Analysts rate Apple Inc. (AAPL) a "Buy" — based on 109 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FTNT or AAPL?
On trailing P/E, Fortinet, Inc. (FTNT) is the cheapest at 32.5x versus Apple Inc. at 35.4x. On forward P/E, Fortinet, Inc. is actually cheaper at 26.6x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Fortinet, Inc. wins at 0.80x versus Apple Inc.'s 1.74x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — FTNT or AAPL?
Over the past 5 years, Fortinet, Inc. (FTNT) delivered a total return of +128.1%, compared to +110.5% for Apple Inc. (AAPL). A $10,000 investment in FTNT five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FTNT returned +1291% versus AAPL's +1027%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FTNT or AAPL?
By beta (market sensitivity over 5 years), Fortinet, Inc. (FTNT) is the lower-risk stock at 1.23β versus Apple Inc.'s 1.28β — meaning AAPL is approximately 4% more volatile than FTNT relative to the S&P 500. On balance sheet safety, Fortinet, Inc. (FTNT) carries a lower debt/equity ratio of 81% versus 167% for Apple Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — FTNT or AAPL?
Fortinet, Inc. (FTNT) is the more profitable company, earning 27.3% net margin versus 26.9% for Apple Inc. — meaning it keeps 27.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AAPL leads at 32.0% versus 30.6% for FTNT. At the gross margin level — before operating expenses — FTNT leads at 80.8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is FTNT or AAPL more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Fortinet, Inc. (FTNT) is the more undervalued stock at a PEG of 0.80x versus Apple Inc.'s 1.74x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Fortinet, Inc. (FTNT) trades at 26.6x forward P/E versus 31.1x for Apple Inc. — 4.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AAPL: 14.7% to $303.11.
07Which pays a better dividend — FTNT or AAPL?
In this comparison, AAPL (0.4% yield) pays a dividend. FTNT does not pay a meaningful dividend and should not be held primarily for income.
08Is FTNT or AAPL better for a retirement portfolio?
For long-horizon retirement investors, Fortinet, Inc. (FTNT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.23), +1291% 10Y return). Both have compounded well over 10 years (FTNT: +1291%, AAPL: +1027%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between FTNT and AAPL?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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