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FTNT vs. NBIS: Fortinet vs. Nebius Stock Comparison

How do Fortinet (FTNT) and Nebius (NBIS) 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

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

Fortinet (FTNT) has been public since November 18, 2009, giving it a longer listed trading history, while Nebius (NBIS) listed on October 21, 2024 and still has a shorter public-market record.

Company profile comparison for Fortinet (FTNT) and Nebius (NBIS)
Profile ItemFTNTNBIS
NameFortinet, Inc.Nebius Group N.V. Class A Ordinary Shares
Country/RegionUnited StatesNetherlands
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareSoftware
GICS Sub-IndustrySystems SoftwareSystems Software
Market Capitalization87.31 billion USD35.20 billion USD
CurrencyUSDUSD
ExchangeNasdaqNasdaq
Listing DateNovember 18, 2009October 21, 2024
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

FTNT
NBIS
GSPC
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Fortinet (FTNT) vs. Nebius (NBIS), 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 Fortinet (FTNT) and Nebius (NBIS). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Total Return (1Y)49.91%25.86%
Total Return (3Y, Annualized)35.15%--
Total Return (5Y, Annualized)11.92%--

Risk Profile

Drawdown History

FTNT
NBIS
GSPC
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Fortinet (FTNT) vs. Nebius (NBIS), 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 Fortinet (FTNT) and Nebius (NBIS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Nebius (NBIS) carries a highly aggressive beta of 4.66, 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.

Risk profile metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Volatility (1Y, Annualized)49.03%111.62%
Beta (5Y)1.074.66
Max Drawdown (5Y)-38.98%-58.27%
Avg. Volume (3M)4.68M20.58M

Risk-Adjusted Performance

Risk-Return Positioning

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FTNT and NBIS 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 Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Sharpe Ratio (1Y)0.930.19
Sortino Ratio (1Y)1.370.31

Profitability

ROE (TTM)

Fortinet (FTNT) at 153.08% clears its industry range for ROE, a sharper capital-efficiency signal than Nebius (NBIS) at 0.60%, which is closer to a typical peer reading.

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%

NBIS

Software & Services industry group

0.60%

Max
53.85%
Q3
17.90%
Median
6.59%
NBIS
0.60%
Q1
-9.59%
Min
-50.52%
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Fortinet (FTNT) at 28.96% retains a top-quartile share of revenue as profit, ahead of Nebius (NBIS) at 3.13%, which keeps about the industry-typical share.

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%

NBIS

Software & Services industry group

3.13%

Max
41.17%
Q3
15.28%
Median
4.63%
NBIS
3.13%
Q1
-5.42%
Min
-33.17%
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Nebius (NBIS) reports a negative operating margin of -0.22%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Fortinet (FTNT) reports 33.82%, ranking against industry peers normally.

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%

NBIS

Software & Services industry group

-0.22%

Max
46.89%
Q3
17.64%
Median
8.73%
NBIS
-0.22%
Q1
-2.13%
Min
-30.45%
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
ROE (TTM)153.08%0.60%
ROA (TTM)15.22%-1.92%
Net Margin (TTM)28.96%3.13%
Operating Margin (TTM)33.82%-0.22%
Gross Margin (TTM)79.75%74.26%

Growth

Revenue Growth

Nebius (NBIS) at 479.02% 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.

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Fortinet (FTNT) vs. Nebius (NBIS): 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; Nebius (NBIS) has no EPS growth figure this period.

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

Growth Metrics

Growth metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Revenue Growth (YoY)14.17%479.02%
Revenue Growth (3Y CAGR)15.46%239.83%
EPS Growth (YoY)7.08%--
EPS Growth (3Y CAGR)31.68%-28.68%

Financial Strength

Current Ratio (MRQ)

Fortinet (FTNT) at 1.40 keeps current ratio within its industry’s typical mid-range, while Nebius (NBIS) at 4.03 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

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

NBIS

Software & Services industry group

4.03

Max
5.11
NBIS
4.03
Q3
2.77
Median
1.67
Q1
1.01
Min
0.03
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both Fortinet (FTNT) at 0.25 and Nebius (NBIS) at 0.99 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

NBIS

Software & Services industry group

0.99

Max
2.52
Q3
1.13
NBIS
0.99
Median
0.40
Q1
0.07
Min
0.00
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Current Ratio (MRQ)1.404.03
Debt / Equity (MRQ)0.250.99
Net Debt / EBITDA-1.548.35

Dividends

Dividend Yield (TTM)

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

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%

NBIS

Software & Services industry group

0.00%

NBIS
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

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

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%

NBIS

Software & Services industry group

0.00%

NBIS
0.00%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
Dividend Yield (TTM)0.00%0.00%
Dividend Payout Ratio (TTM)0.00%0.00%

Valuation

P/E Ratio (TTM)

Fortinet (FTNT) at 38.84 is near its industry’s usual P/E ratio, while Nebius (NBIS) at 101.16 sits in the richer quartile — NBIS needs stronger growth or earnings quality to justify the premium.

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

NBIS

Software & Services industry group

101.16

Max
112.94
NBIS
101.16
Q3
60.32
Median
32.91
Q1
18.77
Min
6.69
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their P/E ratio against the Software & Services industry group benchmark.

P/S Ratio (TTM)

Both look expensive on sales: Fortinet (FTNT) at 11.08 sits in the upper P/S ratio quartile, and Nebius (NBIS) at 25.98 prices even higher, above its industry range.

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

NBIS

Software & Services industry group

25.98

NBIS
25.98
Max
17.91
Q3
8.78
Median
4.25
Q1
2.23
Min
0.02
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Nebius (NBIS) at 3.43 sits near its industry’s typical P/B ratio, while Fortinet (FTNT) at 38.85 prices above its benchmark range — FTNT looks rich relative to book.

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

NBIS

Software & Services industry group

3.43

Max
16.63
Q3
8.50
Median
4.30
NBIS
3.43
Q1
1.92
Min
-3.90
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Fortinet (FTNT) vs. Nebius (NBIS): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Fortinet (FTNT) and Nebius (NBIS)
MetricFTNTNBIS
P/E Ratio (TTM)38.84101.16
P/S Ratio (TTM)11.0825.98
P/B Ratio (MRQ)38.853.43
Free Cash Flow Yield (TTM)2.85%-27.31%