WallStSmart

Corpay Inc (CPAY)vsFortinet Inc (FTNT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 49% more annual revenue ($7.11B vs $4.78B). FTNT leads profitability with a 27.5% profit margin vs 24.6%. CPAY appears more attractively valued with a PEG of 0.86. CPAY earns a higher WallStSmart Score of 80/100 (B+).

CPAY

Strong Buy

80

out of 100

Grade: B+

Growth: 8.0Profit: 8.5Value: 6.7Quality: 3.0
Piotroski: 2/9Altman Z: 1.06

FTNT

Strong Buy

67

out of 100

Grade: B-

Growth: 8.0Profit: 9.5Value: 4.7Quality: 5.5
Piotroski: 5/9Altman Z: 1.50
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

CPAYUndervalued (+7.6%)

Margin of Safety

+7.6%

Fair Value

$375.30

Current Price

$347.17

$28.13 discount

UndervaluedFair: $375.30Overvalued
FTNTUndervalued (+45.3%)

Margin of Safety

+45.3%

Fair Value

$264.55

Current Price

$148.00

$116.55 discount

UndervaluedFair: $264.55Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

CPAY6 strengths · Avg: 8.8/10
Return on EquityProfitability
33.5%10/10

Every $100 of equity generates 34 in profit

Operating MarginProfitability
41.4%10/10

Strong operational efficiency at 41.4%

Profit MarginProfitability
24.6%9/10

Keeps 25 of every $100 in revenue as profit

PEG RatioValuation
0.868/10

Growing faster than its price suggests

Revenue GrowthGrowth
25.4%8/10

Revenue surging 25.4% year-over-year

EPS GrowthGrowth
49.1%8/10

Earnings expanding 49.1% YoY

FTNT6 strengths · Avg: 9.0/10
Return on EquityProfitability
197.5%10/10

Every $100 of equity generates 197 in profit

Operating MarginProfitability
31.3%10/10

Strong operational efficiency at 31.3%

Market CapQuality
$109.52B9/10

Large-cap with strong market position

Profit MarginProfitability
27.5%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
20.1%8/10

Revenue surging 20.1% year-over-year

EPS GrowthGrowth
28.6%8/10

Earnings expanding 28.6% YoY

Areas to Watch

CPAY4 concerns · Avg: 2.0/10
Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Free Cash FlowQuality
$-107.71M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
1.062/10

Distress zone — elevated risk

Debt/EquityHealth
2.951/10

Elevated debt levels

FTNT4 concerns · Avg: 2.5/10
Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

PEG RatioValuation
3.372/10

Expensive relative to growth rate

P/E RatioValuation
57.7x2/10

Premium valuation, high expectations priced in

Price/BookValuation
109.6x2/10

Trading at 109.6x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : CPAY

The strongest argument for CPAY centers on Return on Equity, Operating Margin, Profit Margin. Profitability is solid with margins at 24.6% and operating margin at 41.4%. Revenue growth of 25.4% demonstrates continued momentum.

Bull Case : FTNT

The strongest argument for FTNT centers on Return on Equity, Operating Margin, Market Cap. Profitability is solid with margins at 27.5% and operating margin at 31.3%. Revenue growth of 20.1% demonstrates continued momentum.

Bear Case : CPAY

The primary concerns for CPAY are Piotroski F-Score, Free Cash Flow, Altman Z-Score. Debt-to-equity of 2.95 is elevated, increasing financial risk.

Bear Case : FTNT

The primary concerns for FTNT are Altman Z-Score, PEG Ratio, P/E Ratio. A P/E of 57.7x leaves little room for execution misses.

Key Dynamics to Monitor

FTNT carries more volatility with a beta of 1.11 — expect wider price swings.

CPAY is growing revenue faster at 25.4% — sustainability is the question.

FTNT generates stronger free cash flow (1.0B), providing more financial flexibility.

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

Bottom Line

CPAY scores higher overall (80/100 vs 67/100), backed by strong 24.6% margins and 25.4% revenue growth. FTNT offers better value entry with a 45.3% margin of safety. 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.

Corpay Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Corpay Inc. is a leading provider of integrated payment solutions that streamline corporate payables and receivables for businesses across various sectors. Leveraging cutting-edge technology and data analytics, Corpay enhances cash flow and operational efficiency, allowing clients to focus on core business functions. Its comprehensive suite of financial services, underscored by a strong commitment to customer satisfaction and regulatory compliance, establishes Corpay as a crucial partner for organizations operating in the global marketplace. Positioned to take advantage of the rapidly evolving financial technology landscape, Corpay represents a compelling investment opportunity for institutional investors seeking growth in the fintech sector.

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.

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