Head-to-head · free
Fortinet vs Palo Alto Networks
FTNT vs PANW — return on capital, cash generation, margins and balance sheet side by side.
FTNT
6 / 8
measures where FTNT leads
PANW
2 / 8
measures where PANW leads
A simple count of which company scores better on each measure — not a recommendation to buy or sell.
| Measure | FTNT · FY2025 | PANW · FY2026 |
|---|---|---|
| Revenue | $6.8B | $11.5B |
| Net income | $1.9B | $307.0M |
| Revenue growth (yearly, multi-year) | 19.4% | 20.2% |
| Free cash flow | — | — |
| Free cash flow margin | — | — |
| Net cash / (debt) | — | — |
| ROIC | 71.5% | 2.1% |
| Return on equity | 135.7% | 1.7% |
| Gross margin | 80.5% | 70.4% |
| Operating margin | 30.7% | 6.1% |
| Net debt / EBITDA | -0.67x | -0.48x |
Figures are as reported by each company; latest fiscal year shown.
Where Fortinet's cash went (FY2025)
- Capital spending
- —
- Buybacks
- —
- Dividends
- —
- Acquisitions
- —
- Net debt issued / (repaid)
- —
Where Palo Alto Networks's cash went (FY2026)
- Capital spending
- —
- Buybacks
- —
- Dividends
- —
- Acquisitions
- —
- Net debt issued / (repaid)
- —
Ask which business is stronger
"Which one reinvests at higher returns?" "Who carries more risk in its filings?" Get answers drawn straight from both companies' filings.
Compare them free