Fortinet Inc (FTNT) is overvalued and Palantir Technologies Inc (PLTR) is overvalued.
Both trade above our estimate of their intrinsic value. FTNT is the closer of the two: -33%, against -417% for PLTR.
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 12.5x revenue multiple, adjusted for growth and margin, values the shares at $35.76; the price of $184.99 is 417% above that value.
Leak Score 67/100 on 8 of 12 signals
| Metric | FTNT | PLTR |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $174.26 | $184.99 |
| Intrinsic value | $130.76 | $35.76 |
| Margin of safety | -33% | -417% |
| Leak Score | 82/100 (10/12) | 67/100 (8/12) |
| Market cap | $127.9B | $444.5B |
| Revenue growth, 5 years | 21.3% | 32.6% |
| Operating margin | 32.4% | 42.8% |
| Net margin | 28.2% | 49.0% |
| Return on equity | 117.4% | 38.4% |
| Debt to equity | 0.32 | 0.02 |
| P/E | 61.4x | 157.6x |
| Forward P/E | 46.2x | 80.9x |
| P/B | 82.4x | 45.5x |