WallStSmart

DexCom Inc (DXCM)vsFortinet Inc (FTNT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 48% more annual revenue ($7.11B vs $4.82B). FTNT leads profitability with a 27.5% profit margin vs 19.3%. DXCM appears more attractively valued with a PEG of 1.38. DXCM earns a higher WallStSmart Score of 72/100 (B).

DXCM

Strong Buy

72

out of 100

Grade: B

Growth: 8.7Profit: 8.5Value: 6.7Quality: 7.0
Piotroski: 5/9Altman Z: 2.56

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

DXCMUndervalued (+89.8%)

Margin of Safety

+89.8%

Fair Value

$666.61

Current Price

$72.86

$593.75 discount

UndervaluedFair: $666.61Overvalued
FTNTUndervalued (+45.4%)

Margin of Safety

+45.4%

Fair Value

$265.15

Current Price

$149.67

$115.48 discount

UndervaluedFair: $265.15Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

DXCM4 strengths · Avg: 9.0/10
Return on EquityProfitability
31.5%10/10

Every $100 of equity generates 31 in profit

EPS GrowthGrowth
92.2%10/10

Earnings expanding 92.2% YoY

Operating MarginProfitability
21.4%8/10

Strong operational efficiency at 21.4%

Revenue GrowthGrowth
15.0%8/10

15.0% revenue growth

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
$109.06B9/10

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

DXCM2 concerns · Avg: 4.0/10
P/E RatioValuation
31.6x4/10

Premium valuation, high expectations priced in

Price/BookValuation
9.5x4/10

Trading at 9.5x book value

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

Distress zone — elevated risk

PEG RatioValuation
3.322/10

Expensive relative to growth rate

P/E RatioValuation
57.7x2/10

Premium valuation, high expectations priced in

Price/BookValuation
110.9x2/10

Trading at 110.9x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : DXCM

The strongest argument for DXCM centers on Return on Equity, EPS Growth, Operating Margin. Profitability is solid with margins at 19.3% and operating margin at 21.4%. Revenue growth of 15.0% 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 : DXCM

The primary concerns for DXCM are P/E Ratio, Price/Book.

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

DXCM profiles as a mature stock while FTNT is a growth play — different risk/reward profiles.

DXCM carries more volatility with a beta of 1.40 — expect wider price swings.

FTNT is growing revenue faster at 20.1% — sustainability is the question.

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

Bottom Line

DXCM scores higher overall (72/100 vs 67/100), backed by strong 19.3% margins and 15.0% revenue growth. FTNT offers better value entry with a 45.4% 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.

DexCom Inc

HEALTHCARE · MEDICAL DEVICES · USA

DexCom, Inc. is a company that develops, manufactures, and distributes continuous glucose monitoring (CGM) systems for diabetes management. It operates internationally with headquarters in San Diego, California, and has a manufacturing facility in Mesa, Arizona.

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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