WallStSmart

Dropbox Inc (DBX)vsFortinet Inc (FTNT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 198% more annual revenue ($7.53B vs $2.53B). FTNT leads profitability with a 28.2% profit margin vs 18.7%. FTNT appears more attractively valued with a PEG of 2.24. FTNT earns a higher WallStSmart Score of 71/100 (B).

DBX

Hold

50

out of 100

Grade: D+

Growth: 3.3Profit: 8.5Value: 5.3Quality: 5.5
Piotroski: 5/9Altman Z: -0.43

FTNT

Strong Buy

71

out of 100

Grade: B

Growth: 8.7Profit: 9.5Value: 5.3Quality: 5.5
Piotroski: 5/9Altman Z: 1.50
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

DBXUndervalued (+14.0%)

Margin of Safety

+14.0%

Fair Value

$28.38

Current Price

$34.81

$6.43 discount

UndervaluedFair: $28.38Overvalued
FTNTUndervalued (+40.9%)

Margin of Safety

+40.9%

Fair Value

$277.92

Current Price

$159.64

$118.28 discount

UndervaluedFair: $277.92Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

DBX3 strengths · Avg: 8.7/10
Debt/EquityHealth
-1.9910/10

Conservative balance sheet, low leverage

P/E RatioValuation
17.8x8/10

Attractively priced relative to earnings

Operating MarginProfitability
27.5%8/10

Strong operational efficiency at 27.5%

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

Every $100 of equity generates 197 in profit

Operating MarginProfitability
33.6%10/10

Strong operational efficiency at 33.6%

Market CapQuality
$123.48B9/10

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

Areas to Watch

DBX4 concerns · Avg: 2.5/10
Revenue GrowthGrowth
0.8%4/10

0.8% revenue growth

PEG RatioValuation
15.502/10

Expensive relative to growth rate

EPS GrowthGrowth
-5.9%2/10

Earnings declined 5.9%

Altman Z-ScoreHealth
-0.432/10

Distress zone — elevated risk

FTNT4 concerns · Avg: 3.0/10
PEG RatioValuation
2.244/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.504/10

Distress zone — elevated risk

P/E RatioValuation
57.8x2/10

Premium valuation, high expectations priced in

Price/BookValuation
75.7x2/10

Trading at 75.7x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : DBX

The strongest argument for DBX centers on Debt/Equity, P/E Ratio, Operating Margin. Profitability is solid with margins at 18.7% and operating margin at 27.5%.

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.

Bear Case : DBX

The primary concerns for DBX are Revenue Growth, PEG Ratio, EPS Growth.

Bear Case : FTNT

The primary concerns for FTNT are PEG Ratio, Altman Z-Score, P/E Ratio. A P/E of 57.8x leaves little room for execution misses.

Key Dynamics to Monitor

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

FTNT carries more volatility with a beta of 1.06 — expect wider price swings.

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

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

Bottom Line

FTNT scores higher overall (71/100 vs 50/100), backed by strong 28.2% margins and 25.6% revenue growth. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

Dropbox Inc

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Dropbox, Inc. provides a worldwide collaboration platform. The company is headquartered in San Francisco, California.

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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