Fortinet Q3 beats but is down

Cyber security doesn’t get mentioned much around here - usually as despite the growth rates, it is losing money or barely breaking even yet extremely highly valued.

One of my favourites - Fortinet which is fast growing, not so stretched in valuation and profitable reported great figures today and still got smashed in after hours (down 12%).

This could be a buying opportunity for those that want a “relatively” undervalued, high growth and profitable player in cyber security to invest in. Fortinet’s products always perform very very highly in equipment/service tests.

Forward P/E is about 60, trailing is about 100. You don’t want to look at the PEG.…

Fortinet Reports Strong Third Quarter 2015 Financial Results

Record Billings Growth of 41% Year Over Year

SUNNYVALE, CA–(Marketwired - October 22, 2015) -
•Billings of $299.6 million, up 41% year over year1
•Revenue of $260.1 million, up 35% year over year
•Non-GAAP diluted net income per share of $0.141
•Cash flow from operations of $65.1 million
•Free cash flow of $51.7 million1
•Cash, cash equivalents and investments of $1.17 billion
•Deferred revenue of $706.9 million, up 41% year over year

Fortinet® (FTNT), a global leader in high performance cyber security solutions, today announced financial results for the third quarter ended September 30, 2015.


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