FTNT vs. SHOP: Fortinet vs. Shopify Stock Comparison
How do Fortinet (FTNT) and Shopify (SHOP) 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 Shopify (SHOP) both fall under the Software & Services industry group, but FTNT is classified in Software while SHOP is classified in IT Services.
| Profile Item | FTNT | SHOP |
|---|---|---|
| Name | Fortinet, Inc. | Shopify Inc. |
| Country/Region | United States | Canada |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | Software | IT Services |
| GICS Sub-Industry | Systems Software | Internet Services & Infrastructure |
| Market Capitalization | 87.31 billion USD | 191.58 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | Nasdaq |
| Listing Date | November 18, 2009 | May 20, 2015 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| Total Return (1Y) | 49.91% | -0.87% |
| Total Return (3Y, Annualized) | 35.15% | 35.77% |
| Total Return (5Y, Annualized) | 11.92% | -0.57% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
Shopify (SHOP) carries a highly aggressive beta of 2.65, 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 | FTNT | SHOP |
|---|---|---|
| Volatility (1Y, Annualized) | 49.03% | 59.71% |
| Beta (5Y) | 1.07 | 2.65 |
| Max Drawdown (5Y) | -38.98% | -84.82% |
| Avg. Volume (3M) | 4.68M | 8.79M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| Sharpe Ratio (1Y) | 0.93 | -0.09 |
| Sortino Ratio (1Y) | 1.37 | -0.12 |
Profitability
ROE (TTM)
Fortinet (FTNT) at 153.08% clears its industry range for ROE, a sharper capital-efficiency signal than Shopify (SHOP) at 16.83%, 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%
SHOP
Software & Services industry group
16.83%
- Max
- 53.85%
- Q3
- 17.90%
- SHOP
- 16.83%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
Net Margin (TTM)
Fortinet (FTNT) at 28.96% retains a top-quartile share of revenue as profit, ahead of Shopify (SHOP) at 15.01%, 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%
SHOP
Software & Services industry group
15.01%
- Max
- 41.17%
- Q3
- 15.28%
- SHOP
- 15.01%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
Operating Margin (TTM)
Both Fortinet (FTNT) at 33.82% and Shopify (SHOP) at 18.39% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.
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%
SHOP
Software & Services industry group
18.39%
- Max
- 46.89%
- SHOP
- 18.39%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
Profitability Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| ROE (TTM) | 153.08% | 16.83% |
| ROA (TTM) | 15.22% | 10.77% |
| Net Margin (TTM) | 28.96% | 15.01% |
| Operating Margin (TTM) | 33.82% | 18.39% |
| Gross Margin (TTM) | 79.75% | 47.49% |
Growth
Revenue Growth
Shopify (SHOP) at 30.14% sits in the top revenue growth quartile, while Fortinet (FTNT) at 14.17% is closer to the peer norm — faster top-line expansion for SHOP.
EPS Growth
Both Fortinet (FTNT) at 7.08% and Shopify (SHOP) at -39.47% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| Revenue Growth (YoY) | 14.17% | 30.14% |
| Revenue Growth (3Y CAGR) | 15.46% | 27.31% |
| EPS Growth (YoY) | 7.08% | -39.47% |
| 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 Shopify (SHOP) at 4.86 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
SHOP
Software & Services industry group
4.86
- Max
- 5.11
- SHOP
- 4.86
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
Debt / Equity (MRQ)
Shopify (SHOP) at 0.01 keeps leverage in the lower industry quartile, while Fortinet (FTNT) at 0.25 runs a more typical debt-to-equity mix.
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
SHOP
Software & Services industry group
0.01
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- Q1
- 0.07
- SHOP
- 0.01
- Min
- 0.00
Financial Strength Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| Current Ratio (MRQ) | 1.40 | 4.86 |
| Debt / Equity (MRQ) | 0.25 | 0.01 |
| Net Debt / EBITDA | -1.54 | -1.75 |
Dividends
Dividend Yield (TTM)
Neither Fortinet (FTNT) nor Shopify (SHOP) 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%
SHOP
Software & Services industry group
0.00%
- SHOP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither Fortinet (FTNT) nor Shopify (SHOP) 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%
SHOP
Software & Services industry group
0.00%
- SHOP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| 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 Shopify (SHOP) at 91.36 sits in the richer quartile — SHOP 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
SHOP
Software & Services industry group
91.36
- Max
- 112.94
- SHOP
- 91.36
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
P/S Ratio (TTM)
Both Fortinet (FTNT) at 11.08 and Shopify (SHOP) at 13.52 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
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
SHOP
Software & Services industry group
13.52
- Max
- 17.91
- SHOP
- 13.52
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Both look rich against book: Shopify (SHOP) at 15.02 sits in the upper P/B ratio quartile, and Fortinet (FTNT) at 38.85 prices even higher, above its industry range.
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
SHOP
Software & Services industry group
15.02
- Max
- 16.63
- SHOP
- 15.02
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Valuation Metrics
| Metric | FTNT | SHOP |
|---|---|---|
| P/E Ratio (TTM) | 38.84 | 91.36 |
| P/S Ratio (TTM) | 11.08 | 13.52 |
| P/B Ratio (MRQ) | 38.85 | 15.02 |
| Free Cash Flow Yield (TTM) | 2.85% | 0.86% |