WallStSmart

Fortinet Inc (FTNT)vsOneSpan Inc (OSPN)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 2955% more annual revenue ($7.53B vs $246.38M). FTNT leads profitability with a 28.2% profit margin vs 27.8%. OSPN appears more attractively valued with a PEG of 1.14. FTNT earns a higher WallStSmart Score of 73/100 (B).

FTNT

Strong Buy

73

out of 100

Grade: B

Growth: 8.7Profit: 9.5Value: 5.3Quality: 6.0
Piotroski: 5/9Altman Z: 1.50

OSPN

Buy

60

out of 100

Grade: C+

Growth: 3.3Profit: 8.0Value: 7.0Quality: 7.0
Piotroski: 3/9Altman Z: 3.23
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FTNTUndervalued (+43.5%)

Margin of Safety

+43.5%

Fair Value

$276.16

Current Price

$156.07

$120.09 discount

UndervaluedFair: $276.16Overvalued

Intrinsic value data unavailable for OSPN.

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
33.6%10/10

Strong operational efficiency at 33.6%

Market CapQuality
$114.51B9/10

Large-cap with strong market position

Profit MarginProfitability
28.2%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
25.6%8/10

Revenue surging 25.6% year-over-year

EPS GrowthGrowth
43.9%8/10

Earnings expanding 43.9% YoY

OSPN6 strengths · Avg: 9.3/10
P/E RatioValuation
9.5x10/10

Attractively priced relative to earnings

Debt/EquityHealth
0.0510/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
3.2310/10

Safe zone — low bankruptcy risk

Return on EquityProfitability
25.0%9/10

Every $100 of equity generates 25 in profit

Profit MarginProfitability
27.8%9/10

Keeps 28 of every $100 in revenue as profit

Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Areas to Watch

FTNT4 concerns · Avg: 3.0/10
PEG RatioValuation
1.744/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

P/E RatioValuation
56.1x2/10

Premium valuation, high expectations priced in

Price/BookValuation
74.0x2/10

Trading at 74.0x book value

OSPN4 concerns · Avg: 3.0/10
Revenue GrowthGrowth
1.0%4/10

1.0% revenue growth

Market CapQuality
$619.12M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPS GrowthGrowth
-14.3%2/10

Earnings declined 14.3%

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 28.2% and operating margin at 33.6%. Revenue growth of 25.6% demonstrates continued momentum.

Bull Case : OSPN

The strongest argument for OSPN centers on P/E Ratio, Debt/Equity, Altman Z-Score. Profitability is solid with margins at 27.8% and operating margin at 14.5%. PEG of 1.14 suggests the stock is reasonably priced for its growth.

Bear Case : FTNT

The primary concerns for FTNT are PEG Ratio, Altman Z-Score, P/E Ratio. A P/E of 56.1x leaves little room for execution misses.

Bear Case : OSPN

The primary concerns for OSPN are Revenue Growth, Market Cap, Piotroski F-Score.

Key Dynamics to Monitor

FTNT profiles as a growth stock while OSPN is a value play — different risk/reward profiles.

OSPN carries more volatility with a beta of 1.57 — expect wider price swings.

FTNT is growing revenue faster at 25.6% — sustainability is the question.

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

Bottom Line

FTNT scores higher overall (73/100 vs 60/100), backed by strong 28.2% margins and 25.6% revenue growth. Both earn "Strong Buy" and "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.

OneSpan Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

OneSpan Inc. designs, develops and markets digital solutions for identity, security and business productivity globally. The company is headquartered in Chicago, Illinois.

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