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Stock Comparison · Industry comparison · Software - Infrastructure

F5 vs Fortinet: Which Stock Looks Stronger in 2026?

The structural profiles are close, with Fortinet carrying a narrow edge on growth. F5 still has the edge on valuation, which keeps the comparison from looking entirely one-sided. The market setup is mixed, without a decisive signal in either direction. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the S&P 500 universe, making them directly comparable.

Updated 2026-08-16

The comparison is mainly decided in growth, with the rest of the profile carrying less weight.

INDUSTRY COMPARISON

Both operate in: Software - Infrastructure

This comparison is based on industry proximity, not on functional trajectory similarity. FFIV and FTNT share the same industry classification.

For a similarity-based comparison, see how F5 and Fortinet each position within their functional peer groups in AssetNext.

Peer-Relative Score
FFIV
F5, Inc.
51
Peer-Score
Signal qualitylow
Peer basis: S&P 500
vs
FTNT
Fortinet, Inc.
53
Peer-Score
Signal qualitylow
Peer basis: S&P 500

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The clearest separation appears in growth.

Dimension spread: FFIV vs FTNT Profitability 47 45 Stability 64 58 Valuation 56 35 Growth 39 87 FFIV FTNT
Gap Ranking
#1 Growth +48
#2 Valuation +21
#3 Stability +6
#4 Profitability +2
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for FFIV and FTNT Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer FFIVFTNT Relative valuation Structural strength

Fortinet, Inc. occupies the cheaper side of the setup map, although F5, Inc. still holds the stronger structural profile.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where FFIV and FTNT each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY FFIV Elevated · above norm 0th 50th 100th 0 pct gap FTNT Elevated · above norm 0th 50th 100th 99th 99th
FFIV (99th percentile) and FTNT (99th percentile) both sit in the upper portion of their own 5-year ranges. The historical entry context is broadly similar for both. This reflects entry timing, not which company is structurally stronger.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Growth
Fortinet, Inc. ranks near the top of the group on growth; F5, Inc. sits in the weaker half.
Valuation
F5, Inc. sits in the stronger part of the group on valuation, while Fortinet, Inc. is closer to mid-pack.
Growth — Dominant Gap
FFIV
39
FTNT
87
Gap+48in favour of FTNT

Earnings growth is one contributing factor within the growth lead.

What keeps the gap from being one-sided

Absolute pricing still looks more supportive for F5, with a forward P/E that is 20.3 turns lower there.

What this means for the comparison

The main read on growth is clearer than the broader score gap.

Explore full peer positioning in AssetNext

Break down the FFIV vs FTNT comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Other comparisons with conflicting dimension signals

Explore how FFIV and FTNT each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.