Fortinet Inc (FTNT) is overvalued and Oracle Corp (ORCL) is undervalued.
Against our estimates of intrinsic value, ORCL trades at the wider discount: a margin of safety of +24%, against -33% for FTNT.
Values as of the 22 Sept 2026 close.
A 12.5x revenue multiple, adjusted for growth and margin, values the shares at $130.76; the price of $174.26 is 33% above that value.
Leak Score 82/100 on 10 of 12 signals
A 9.6x revenue multiple, adjusted for growth and margin, values the shares at $195.39; the price of $149.20 is 24% below that value.
Leak Score 53/100 on 9 of 12 signals
| Metric | FTNT | ORCL |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $174.26 | $149.20 |
| Intrinsic value | $130.76 | $195.39 |
| Margin of safety | -33% | +24% |
| Leak Score | 82/100 (10/12) | 53/100 (9/12) |
| Market cap | $127.9B | $451.1B |
| Revenue growth, 5 years | 21.3% | 10.7% |
| Operating margin | 32.4% | 34.2% |
| Net margin | 28.2% | 26.1% |
| Return on equity | 117.4% | 41.6% |
| Debt to equity | 0.32 | 2.53 |
| P/E | 61.4x | 23.4x |
| Forward P/E | 46.2x | 13.5x |
| P/B | 82.4x | 7.3x |
| Dividend yield | — | 1.3% |