FROG vs. FTNT: JFrog vs. Fortinet Stock Comparison

November 11, 2026

How do JFrog (FROG) 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

JFrog (FROG) and Fortinet (FTNT) are both classified in the Systems Software sub-industry within the broader Software industry, placing them in the closest GICS peer bucket.

Company profile comparison for JFrog (FROG) and Fortinet (FTNT)
Profile Item	FROG	FTNT
Name	JFrog Ltd.	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	Systems Software	Systems Software
Market Capitalization	12.45 billion USD	87.31 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	September 16, 2020	November 18, 2009
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FROG

FTNT

GSPC

JFrog (FROG) vs. Fortinet (FTNT), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for JFrog (FROG) and Fortinet (FTNT). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for JFrog (FROG) and Fortinet (FTNT). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Total Return (1Y)	77.72%	49.91%
Total Return (3Y, Annualized)	60.36%	35.15%
Total Return (5Y, Annualized)	22.50%	11.92%

Risk Profile

Drawdown History

FROG

FTNT

GSPC

JFrog (FROG) vs. Fortinet (FTNT), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for JFrog (FROG) and Fortinet (FTNT). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Volatility (1Y, Annualized)	80.78%	49.03%
Beta (5Y)	1.26	1.07
Max Drawdown (5Y)	-56.17%	-38.98%
Avg. Volume (3M)	1.95M	4.68M

Risk-Adjusted Performance

Risk-Return Positioning

FROG and FTNT are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Sharpe Ratio (1Y)	0.91	0.93
Sortino Ratio (1Y)	1.48	1.37

Profitability

ROE (TTM)

JFrog (FROG) reports a negative ROE of -2.26%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Fortinet (FTNT) reports 153.08%, ranking against industry peers normally.

FROG

Software & Services industry group

-2.26%

Max: 53.85%
Q3: 17.90%
Median: 6.59%
FROG: -2.26%
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%

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

JFrog (FROG) reports a negative net margin of -3.28%, usually indicating a net loss over the period. Meanwhile Fortinet (FTNT) reports 28.96%, ranking against industry peers normally.

FROG

Software & Services industry group

-3.28%

Max: 41.17%
Q3: 15.28%
Median: 4.63%
FROG: -3.28%
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%

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

JFrog (FROG) reports a negative operating margin of -0.27%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Fortinet (FTNT) reports 33.82%, ranking against industry peers normally.

FROG

Software & Services industry group

-0.27%

Max: 46.89%
Q3: 17.64%
Median: 8.73%
FROG: -0.27%
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%

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
ROE (TTM)	-2.26%	153.08%
ROA (TTM)	-1.85%	15.22%
Net Margin (TTM)	-3.28%	28.96%
Operating Margin (TTM)	-0.27%	33.82%
Gross Margin (TTM)	78.44%	79.75%

Growth

Revenue Growth

Both JFrog (FROG) at 24.12% and Fortinet (FTNT) at 14.17% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Fortinet (FTNT) reports EPS growth of 7.08%, ranked against its industry; JFrog (FROG) has no EPS growth figure this period.

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Revenue Growth (YoY)	24.12%	14.17%
Revenue Growth (3Y CAGR)	23.84%	15.46%
EPS Growth (YoY)	--	7.08%
EPS Growth (3Y CAGR)	--	31.68%

Financial Strength

Current Ratio (MRQ)

Both JFrog (FROG) at 2.15 and Fortinet (FTNT) at 1.40 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

FROG

Software & Services industry group

2.15

Max: 5.11
Q3: 2.77
FROG: 2.15
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

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both JFrog (FROG) at 0.11 and Fortinet (FTNT) at 0.25 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

FROG

Software & Services industry group

0.11

Max: 2.52
Q3: 1.13
Median: 0.40
FROG: 0.11
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

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Current Ratio (MRQ)	2.15	1.40
Debt / Equity (MRQ)	0.11	0.25
Net Debt / EBITDA	--	-1.54

Dividends

Dividend Yield (TTM)

Neither JFrog (FROG) nor Fortinet (FTNT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FROG

Software & Services industry group

0.00%

FROG: 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%

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Neither JFrog (FROG) nor Fortinet (FTNT) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FROG

Software & Services industry group

0.00%

FROG: 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%

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Fortinet (FTNT) trades at 38.84 times trailing earnings, ranked against its peers, while JFrog (FROG) has no P/E ratio this period.

FROG

Software & Services industry group

Max: 112.94
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69
FROG: --

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

JFrog (FROG) vs. Fortinet (FTNT): FROG does not report P/E ratio, so it has no value marker; FTNT is benchmarked against the Software & Services industry group.

P/S Ratio (TTM)

Both look expensive on sales: Fortinet (FTNT) at 11.08 sits in the upper P/S ratio quartile, and JFrog (FROG) at 19.39 prices even higher, above its industry range.

FROG

Software & Services industry group

19.39

FROG: 19.39
Max: 17.91
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

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: JFrog (FROG) at 12.37 sits in the upper P/B ratio quartile, and Fortinet (FTNT) at 38.85 prices even higher, above its industry range.

FROG

Software & Services industry group

12.37

Max: 16.63
FROG: 12.37
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

JFrog (FROG) vs. Fortinet (FTNT): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for JFrog (FROG) and Fortinet (FTNT)
Metric	FROG	FTNT
P/E Ratio (TTM)	--	38.84
P/S Ratio (TTM)	19.39	11.08
P/B Ratio (MRQ)	12.37	38.85
Free Cash Flow Yield (TTM)	1.85%	2.85%