Fortinet Inc (FTNT)vsWaters Corporation (WAT)
FTNT
Fortinet Inc
$149.67
-3.25%
TECHNOLOGY · Cap: $109.06B
WAT
Waters Corporation
$365.36
-2.95%
HEALTHCARE · Cap: $36.00B
Smart Verdict
WallStSmart Research — data-driven comparison
Fortinet Inc generates 89% more annual revenue ($7.11B vs $3.77B). FTNT leads profitability with a 27.5% profit margin vs 11.9%. WAT appears more attractively valued with a PEG of 1.52. FTNT earns a higher WallStSmart Score of 67/100 (B-).
FTNT
Strong Buy67
out of 100
Grade: B-
WAT
Buy50
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+45.4%
Fair Value
$265.15
Current Price
$149.67
$115.48 discount
Margin of Safety
-84.6%
Fair Value
$178.29
Current Price
$365.36
$187.07 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Every $100 of equity generates 197 in profit
Strong operational efficiency at 31.3%
Large-cap with strong market position
Keeps 28 of every $100 in revenue as profit
Revenue surging 20.1% year-over-year
Earnings expanding 28.6% YoY
Revenue surging 91.4% year-over-year
Safe zone — low bankruptcy risk
Areas to Watch
Distress zone — elevated risk
Expensive relative to growth rate
Premium valuation, high expectations priced in
Trading at 110.9x book value
Expensive relative to growth rate
Trading at 8.5x book value
ROE of 2.9% — below average capital efficiency
Operating margin of 2.8%
Comparative Analysis Report
WallStSmart ResearchBull 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.
Bull Case : WAT
The strongest argument for WAT centers on Revenue Growth, Altman Z-Score. Revenue growth of 91.4% demonstrates continued momentum.
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.
Bear Case : WAT
The primary concerns for WAT are PEG Ratio, Price/Book, Return on Equity. A P/E of 46.7x leaves little room for execution misses.
Key Dynamics to Monitor
WAT carries more volatility with a beta of 1.14 — expect wider price swings.
WAT is growing revenue faster at 91.4% — 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
FTNT scores higher overall (67/100 vs 50/100), backed by strong 27.5% margins and 20.1% revenue growth. Both earn "Strong Buy" and "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.
Waters Corporation
HEALTHCARE · DIAGNOSTICS & RESEARCH · USA
Waters Corporation is a publicly traded Analytical Laboratory instrument and software company headquartered in Milford, Massachusetts.
Compare with Other SOFTWARE - INFRASTRUCTURE Stocks
Want to dig deeper into these stocks?