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During the IPO season Francis Gaskins, editor of IPOdesktop.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg & CNBC. Over the past five years he has... More
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  • Fortinet (FTNT) IPO priced at $12.50. Comparative valuations updated to IPO price & Tues close 1 comment
    Nov 17, 2009 11:09 AM | about stocks: FTNT, CSCO, JNPR, MFE, SYMC, CKP

    FTNT is the market leader in Unified Threat Management security market segment.  The closest publicly held comparable is Sonic Wall (SNWL)

    At the IPO price of $12.50 FTNT’s P/E is a little under SNWL while it’s Enterprise Value/Earnings ratio is a little over SNWL’s. 

    FTNT is priced at a premium regarding book value multiples.  See ‘financials’ at the bottom of the IPO report.

    Includes ENTERPRISE VALUE metrics compared to SNWL

    See ‘financials’ at the bottom of the IPO Report

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  • jonnoarmo
    , contributor
    Comments (8) | Send Message
    Yes their valuation is higher than SNWL, however FTNT has far less exposure to NorthAmerican mkt unlike SNWL (70% of their REV resulting in Year over Year decrease) where as FTNT is exposed far more overseas (18% REV growth year over year).
    20 Nov 2009, 02:21 PM Reply Like
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