APP vs. FTNT: AppLovin vs. Fortinet Stock Comparison
How do AppLovin (APP) and Fortinet (FTNT) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
AppLovin (APP) and Fortinet (FTNT) both belong to the Software industry, though APP is classified under Application Software while FTNT falls under Systems Software.
| Profile Item | APP | FTNT |
|---|---|---|
| Name | AppLovin Corporation Class A Common Stock | Fortinet, Inc. |
| Country/Region | United States | United States |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | Software | Software |
| GICS Sub-Industry | Application Software | Systems Software |
| Market Capitalization | 129.62 billion USD | 87.31 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | Nasdaq |
| Listing Date | April 15, 2021 | November 18, 2009 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | APP | FTNT |
|---|---|---|
| Total Return (1Y) | -34.71% | 49.91% |
| Total Return (3Y, Annualized) | 116.87% | 35.15% |
| Total Return (5Y, Annualized) | 31.34% | 11.92% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
AppLovin (APP) carries a highly aggressive beta of 2.25, indicating much higher sensitivity to broad-market moves, whereas Fortinet (FTNT) is closer to market-like at 1.07 — a noticeable difference in market-sensitivity profile.
| Metric | APP | FTNT |
|---|---|---|
| Volatility (1Y, Annualized) | 80.36% | 49.03% |
| Beta (5Y) | 2.25 | 1.07 |
| Max Drawdown (5Y) | -91.90% | -38.98% |
| Avg. Volume (3M) | 5.33M | 4.68M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | APP | FTNT |
|---|---|---|
| Sharpe Ratio (1Y) | -0.49 | 0.93 |
| Sortino Ratio (1Y) | -0.69 | 1.37 |
Profitability
ROE (TTM)
Both AppLovin (APP) at 210.09% and Fortinet (FTNT) at 153.08% turn shareholders’ equity into profit at rates above their industry benchmark ranges for ROE. That is a strong capital-efficiency signal, though leverage and the equity base still matter.
APP
Software & Services industry group
210.09%
- APP
- 210.09%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
FTNT
Software & Services industry group
153.08%
- FTNT
- 153.08%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
Net Margin (TTM)
AppLovin (APP) at 65.89% keeps the most of each sales dollar — above its industry’s net margin range — and Fortinet (FTNT) at 28.96% also retains a top-quartile share.
APP
Software & Services industry group
65.89%
- APP
- 65.89%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
FTNT
Software & Services industry group
28.96%
- Max
- 41.17%
- FTNT
- 28.96%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
Operating Margin (TTM)
AppLovin (APP) at 78.22% shows unusually strong operating efficiency — above its industry’s operating margin range — and Fortinet (FTNT) at 33.82% also operates in the top quartile.
APP
Software & Services industry group
78.22%
- APP
- 78.22%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
FTNT
Software & Services industry group
33.82%
- Max
- 46.89%
- FTNT
- 33.82%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
Profitability Metrics
| Metric | APP | FTNT |
|---|---|---|
| ROE (TTM) | 210.09% | 153.08% |
| ROA (TTM) | 49.57% | 15.22% |
| Net Margin (TTM) | 65.89% | 28.96% |
| Operating Margin (TTM) | 78.22% | 33.82% |
| Gross Margin (TTM) | 88.78% | 79.75% |
Growth
Revenue Growth
AppLovin (APP) at 69.99% clears its industry range for revenue growth, far stronger top-line momentum than Fortinet (FTNT) at 14.17%, which is closer to a typical peer reading.
EPS Growth
AppLovin (APP) at 115.23% sits in the top EPS growth quartile, while Fortinet (FTNT) at 7.08% is closer to the peer norm — faster per-share earnings growth for APP.
Growth Metrics
| Metric | APP | FTNT |
|---|---|---|
| Revenue Growth (YoY) | 69.99% | 14.17% |
| Revenue Growth (3Y CAGR) | 24.84% | 15.46% |
| EPS Growth (YoY) | 115.23% | 7.08% |
| EPS Growth (3Y CAGR) | -- | 31.68% |
Financial Strength
Current Ratio (MRQ)
Fortinet (FTNT) at 1.40 keeps current ratio within its industry’s typical mid-range, while AppLovin (APP) at 3.81 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.
APP
Software & Services industry group
3.81
- Max
- 5.11
- APP
- 3.81
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
FTNT
Software & Services industry group
1.40
- Max
- 5.11
- Q3
- 2.77
- Median
- 1.67
- FTNT
- 1.40
- Q1
- 1.01
- Min
- 0.03
Debt / Equity (MRQ)
Both AppLovin (APP) at 1.07 and Fortinet (FTNT) at 0.25 fund their balance sheets with roughly industry-typical debt-to-equity mixes.
APP
Software & Services industry group
1.07
- Max
- 2.52
- Q3
- 1.13
- APP
- 1.07
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
FTNT
Software & Services industry group
0.25
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- FTNT
- 0.25
- Q1
- 0.07
- Min
- 0.00
Financial Strength Metrics
| Metric | APP | FTNT |
|---|---|---|
| Current Ratio (MRQ) | 3.81 | 1.40 |
| Debt / Equity (MRQ) | 1.07 | 0.25 |
| Net Debt / EBITDA | 0.06 | -1.54 |
Dividends
Dividend Yield (TTM)
Neither AppLovin (APP) nor Fortinet (FTNT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
FTNT
Software & Services industry group
0.00%
- FTNT
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither AppLovin (APP) nor Fortinet (FTNT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
FTNT
Software & Services industry group
0.00%
- FTNT
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | APP | FTNT |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
Both AppLovin (APP) at 26.34 and Fortinet (FTNT) at 38.84 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.
APP
Software & Services industry group
26.34
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- APP
- 26.34
- Q1
- 18.77
- Min
- 6.69
FTNT
Software & Services industry group
38.84
- Max
- 112.94
- Q3
- 60.32
- FTNT
- 38.84
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
P/S Ratio (TTM)
Both AppLovin (APP) at 17.04 and Fortinet (FTNT) at 11.08 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
APP
Software & Services industry group
17.04
- Max
- 17.91
- APP
- 17.04
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
FTNT
Software & Services industry group
11.08
- Max
- 17.91
- FTNT
- 11.08
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Measured against book value, both AppLovin (APP) at 39.29 and Fortinet (FTNT) at 38.85 look expensive — each P/B ratio sits above its industry’s benchmark range.
APP
Software & Services industry group
39.29
- APP
- 39.29
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
FTNT
Software & Services industry group
38.85
- FTNT
- 38.85
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Valuation Metrics
| Metric | APP | FTNT |
|---|---|---|
| P/E Ratio (TTM) | 26.34 | 38.84 |
| P/S Ratio (TTM) | 17.04 | 11.08 |
| P/B Ratio (MRQ) | 39.29 | 38.85 |
| Free Cash Flow Yield (TTM) | 2.87% | 2.85% |