Fortinet Inc (FTNT) is overvalued and Synopsys Inc (SNPS) is slightly overvalued.
Both trade above our estimate of their intrinsic value. SNPS is the closer of the two: -9%, 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 8.8x revenue multiple, adjusted for growth and margin, values the shares at $376.85; the price of $409.24 is 9% above that value.
Leak Score 33/100 on 10 of 12 signals
| Metric | FTNT | SNPS |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $174.26 | $409.24 |
| Intrinsic value | $130.76 | $376.85 |
| Margin of safety | -33% | -9% |
| Leak Score | 82/100 (10/12) | 33/100 (10/12) |
| Market cap | $127.9B | $78.4B |
| Revenue growth, 5 years | 21.3% | 13.9% |
| Operating margin | 32.4% | 12.1% |
| Net margin | 28.2% | 11.4% |
| Return on equity | 117.4% | 3.7% |
| Debt to equity | 0.32 | 0.35 |
| P/E | 61.4x | 72.3x |
| Forward P/E | 46.2x | 23.2x |
| P/B | 82.4x | 2.5x |