WallStSmart

Fortinet Inc (FTNT)vsPagaya Technologies Ltd. (PGY)

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Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 467% more annual revenue ($7.88B vs $1.39B). FTNT leads profitability with a 29.0% profit margin vs 9.1%. PGY appears more attractively valued with a PEG of 0.04. 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

PGY

Strong Buy

71

out of 100

Grade: B

Growth: 9.3Profit: 8.0Value: 8.0Quality: 6.5
Piotroski: 5/9Altman Z: 1.51
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FTNTUndervalued (+52.5%)

Margin of Safety

+52.5%

Fair Value

$286.50

Current Price

$128.11

$158.39 discount

UndervaluedFair: $286.50Overvalued
PGYUndervalued (+2.5%)

Margin of Safety

+2.5%

Fair Value

$13.20

Current Price

$17.80

$4.60 discount

UndervaluedFair: $13.20Overvalued

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

PGY5 strengths · Avg: 8.8/10
PEG RatioValuation
0.0410/10

Growing faster than its price suggests

EPS GrowthGrowth
143.3%10/10

Earnings expanding 143.3% YoY

P/E RatioValuation
15.1x8/10

Attractively priced relative to earnings

Operating MarginProfitability
27.3%8/10

Strong operational efficiency at 27.3%

Revenue GrowthGrowth
18.6%8/10

18.6% revenue growth

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
41.9x2/10

Trading at 41.9x book value

PGY3 concerns · Avg: 3.3/10
Altman Z-ScoreHealth
1.514/10

Distress zone — elevated risk

Market CapQuality
$1.74B3/10

Smaller company, higher risk/reward

Debt/EquityHealth
1.533/10

Elevated debt levels

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 : PGY

The strongest argument for PGY centers on PEG Ratio, EPS Growth, P/E Ratio. Revenue growth of 18.6% demonstrates continued momentum. PEG of 0.04 suggests the stock is reasonably priced for its growth.

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 : PGY

The primary concerns for PGY are Altman Z-Score, Market Cap, Debt/Equity. Debt-to-equity of 1.53 is elevated, increasing financial risk.

Key Dynamics to Monitor

PGY carries more volatility with a beta of 5.52 — expect wider price swings.

FTNT is growing revenue faster at 20.5% — 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 71/100), 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.

Pagaya Technologies Ltd.

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Pagaya Technologies Ltd. is a financial technology company in Israel, the United States and the Cayman Islands. The company is headquartered in Tel Aviv, Israel.

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