WallStSmart

Fortinet Inc (FTNT)vsViaSat Inc (VSAT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fortinet Inc generates 63% more annual revenue ($7.53B vs $4.63B). FTNT leads profitability with a 28.2% profit margin vs -0.6%. VSAT appears more attractively valued with a PEG of 0.26. 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

VSAT

Hold

50

out of 100

Grade: D+

Growth: 7.3Profit: 3.0Value: 8.3Quality: 4.5
Piotroski: 5/9Altman Z: 0.79
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
VSATUndervalued (+71.4%)

Margin of Safety

+71.4%

Fair Value

$158.33

Current Price

$74.31

$84.02 discount

UndervaluedFair: $158.33Overvalued

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

VSAT3 strengths · Avg: 8.7/10
PEG RatioValuation
0.2610/10

Growing faster than its price suggests

Price/BookValuation
2.2x8/10

Reasonable price relative to book value

EPS GrowthGrowth
35.7%8/10

Earnings expanding 35.7% YoY

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

VSAT4 concerns · Avg: 2.5/10
Operating MarginProfitability
4.4%3/10

Operating margin of 4.4%

Debt/EquityHealth
1.493/10

Elevated debt levels

Return on EquityProfitability
-7.4%2/10

ROE of -7.4% — below average capital efficiency

Revenue GrowthGrowth
-1.2%2/10

Revenue declined 1.2%

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 : VSAT

The strongest argument for VSAT centers on PEG Ratio, Price/Book, EPS Growth. PEG of 0.26 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 : VSAT

The primary concerns for VSAT are Operating Margin, Debt/Equity, Return on Equity.

Key Dynamics to Monitor

FTNT profiles as a growth stock while VSAT is a turnaround play — different risk/reward profiles.

VSAT carries more volatility with a beta of 1.70 — 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 50/100), backed by strong 28.2% margins and 25.6% revenue growth. VSAT offers better value entry with a 71.4% margin of safety. 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.

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.

ViaSat Inc

TECHNOLOGY · COMMUNICATION EQUIPMENT · USA

Viasat, Inc. provides worldwide broadband and communications products and services. The company is headquartered in Carlsbad, California.

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