WallStSmart

Fortinet Inc (FTNT)vsNetApp Inc (NTAP)

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Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 7% more annual revenue ($7.88B vs $7.39B). FTNT leads profitability with a 29.0% profit margin vs 19.2%. FTNT appears more attractively valued with a PEG of 1.50. FTNT earns a higher WallStSmart Score of 75/100 (B+).

FTNT

Strong Buy

75

out of 100

Grade: B+

Growth: 8.7Profit: 10.0Value: 6.7Quality: 6.0
Piotroski: 5/9Altman Z: 1.50

NTAP

Strong Buy

70

out of 100

Grade: B-

Growth: 7.3Profit: 9.0Value: 3.7Quality: 5.0
Piotroski: 6/9Altman Z: 1.48
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FTNTUndervalued (+52.5%)

Margin of Safety

+52.5%

Fair Value

$286.50

Current Price

$118.84

$167.66 discount

UndervaluedFair: $286.50Overvalued

Intrinsic value data unavailable for NTAP.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FTNT6 strengths · Avg: 9.0/10
Return on EquityProfitability
136.7%10/10

Every $100 of equity generates 137 in profit

Operating MarginProfitability
33.8%10/10

Strong operational efficiency at 33.8%

Market CapQuality
$99.98B9/10

Large-cap with strong market position

Profit MarginProfitability
29.0%9/10

Keeps 29 of every $100 in revenue as profit

Revenue GrowthGrowth
20.5%8/10

Revenue surging 20.5% year-over-year

EPS GrowthGrowth
38.7%8/10

Earnings expanding 38.7% YoY

NTAP4 strengths · Avg: 9.0/10
Return on EquityProfitability
94.8%10/10

Every $100 of equity generates 95 in profit

EPS GrowthGrowth
63.5%10/10

Earnings expanding 63.5% YoY

Operating MarginProfitability
26.7%8/10

Strong operational efficiency at 26.7%

Revenue GrowthGrowth
29.9%8/10

Revenue surging 29.9% year-over-year

Areas to Watch

FTNT3 concerns · Avg: 2.7/10
Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

P/E RatioValuation
44.5x2/10

Premium valuation, high expectations priced in

Price/BookValuation
38.8x2/10

Trading at 38.8x book value

NTAP4 concerns · Avg: 2.8/10
P/E RatioValuation
32.1x4/10

Premium valuation, high expectations priced in

Debt/EquityHealth
1.693/10

Elevated debt levels

PEG RatioValuation
2.522/10

Expensive relative to growth rate

Price/BookValuation
22.2x2/10

Trading at 22.2x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : FTNT

The strongest argument for FTNT centers on Return on Equity, Operating Margin, Market Cap. Profitability is solid with margins at 29.0% and operating margin at 33.8%. Revenue growth of 20.5% demonstrates continued momentum.

Bull Case : NTAP

The strongest argument for NTAP centers on Return on Equity, EPS Growth, Operating Margin. Profitability is solid with margins at 19.2% and operating margin at 26.7%. Revenue growth of 29.9% demonstrates continued momentum.

Bear Case : FTNT

The primary concerns for FTNT are Altman Z-Score, P/E Ratio, Price/Book. A P/E of 44.5x leaves little room for execution misses.

Bear Case : NTAP

The primary concerns for NTAP are P/E Ratio, Debt/Equity, PEG Ratio. Debt-to-equity of 1.69 is elevated, increasing financial risk.

Key Dynamics to Monitor

NTAP carries more volatility with a beta of 1.45 — expect wider price swings.

NTAP is growing revenue faster at 29.9% — sustainability is the question.

FTNT generates stronger free cash flow (966M), providing more financial flexibility.

Monitor SOFTWARE - INFRASTRUCTURE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

FTNT scores higher overall (75/100 vs 70/100), backed by strong 29.0% margins and 20.5% revenue growth. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Fortinet Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.

NetApp Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

NetApp, Inc. is an American hybrid cloud data services and data management company headquartered in Sunnyvale, California. Founded in 1992 with an IPO in 1995, NetApp offers cloud data services for management of applications and data both online and physically.

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