FTNT vs. TWLO: Fortinet vs. Twilio Stock Comparison

November 11, 2026

How do Fortinet (FTNT) and Twilio (TWLO) 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 Twilio (TWLO) both fall under the Software & Services industry group, but FTNT is classified in Software while TWLO is classified in IT Services.

Company profile comparison for Fortinet (FTNT) and Twilio (TWLO)
Profile Item	FTNT	TWLO
Name	Fortinet, Inc.	Twilio Inc. Class A Common Stock
Country/Region	United States	United States
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	31.26 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	November 18, 2009	June 23, 2016
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FTNT

TWLO

GSPC

Fortinet (FTNT) vs. Twilio (TWLO), 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 Twilio (TWLO). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
Total Return (1Y)	49.91%	61.15%
Total Return (3Y, Annualized)	35.15%	54.31%
Total Return (5Y, Annualized)	11.92%	-7.91%

Risk Profile

Drawdown History

FTNT

TWLO

GSPC

Fortinet (FTNT) vs. Twilio (TWLO), 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 Twilio (TWLO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
Volatility (1Y, Annualized)	49.03%	63.75%
Beta (5Y)	1.07	1.48
Max Drawdown (5Y)	-38.98%	-86.25%
Avg. Volume (3M)	4.68M	3.05M

Risk-Adjusted Performance

Risk-Return Positioning

FTNT and TWLO 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 Twilio (TWLO)
Metric	FTNT	TWLO
Sharpe Ratio (1Y)	0.93	0.89
Sortino Ratio (1Y)	1.37	1.49

Profitability

ROE (TTM)

Fortinet (FTNT) at 153.08% clears its industry range for ROE, a sharper capital-efficiency signal than Twilio (TWLO) at 14.92%, 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%

TWLO

Software & Services industry group

14.92%

Max: 53.85%
Q3: 17.90%
TWLO: 14.92%
Median: 6.59%
Q1: -9.59%
Min: -50.52%

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

Net Margin (TTM)

For every dollar of sales, both Fortinet (FTNT) at 28.96% and Twilio (TWLO) at 21.82% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

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%

TWLO

Software & Services industry group

21.82%

Max: 41.17%
TWLO: 21.82%
Q3: 15.28%
Median: 4.63%
Q1: -5.42%
Min: -33.17%

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

Operating Margin (TTM)

Fortinet (FTNT) at 33.82% operates in the top operating margin quartile, ahead of Twilio (TWLO) at 9.53%, which runs around its industry’s norm.

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%

TWLO

Software & Services industry group

9.53%

Max: 46.89%
Q3: 17.64%
TWLO: 9.53%
Median: 8.73%
Q1: -2.13%
Min: -30.45%

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

Profitability Metrics

Profitability metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
ROE (TTM)	153.08%	14.92%
ROA (TTM)	15.22%	2.69%
Net Margin (TTM)	28.96%	21.82%
Operating Margin (TTM)	33.82%	9.53%
Gross Margin (TTM)	79.75%	48.61%

Growth

Revenue Growth

Both Fortinet (FTNT) at 14.17% and Twilio (TWLO) at 13.66% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Fortinet (FTNT) vs. Twilio (TWLO): 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; Twilio (TWLO) has no EPS growth figure this period.

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

Growth Metrics

Growth metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
Revenue Growth (YoY)	14.17%	13.66%
Revenue Growth (3Y CAGR)	15.46%	9.82%
EPS Growth (YoY)	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 Twilio (TWLO) at 4.47 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

TWLO

Software & Services industry group

4.47

Max: 5.11
TWLO: 4.47
Q3: 2.77
Median: 1.67
Q1: 1.01
Min: 0.03

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

Debt / Equity (MRQ)

Both Fortinet (FTNT) at 0.25 and Twilio (TWLO) at 0.12 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

TWLO

Software & Services industry group

0.12

Max: 2.52
Q3: 1.13
Median: 0.40
TWLO: 0.12
Q1: 0.07
Min: 0.00

Fortinet (FTNT) vs. Twilio (TWLO): 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 Twilio (TWLO)
Metric	FTNT	TWLO
Current Ratio (MRQ)	1.40	4.47
Debt / Equity (MRQ)	0.25	0.12
Net Debt / EBITDA	-1.54	-3.13

Dividends

Dividend Yield (TTM)

Neither Fortinet (FTNT) nor Twilio (TWLO) 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%

TWLO

Software & Services industry group

0.00%

TWLO: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Neither Fortinet (FTNT) nor Twilio (TWLO) 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%

TWLO

Software & Services industry group

0.00%

TWLO: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Both Fortinet (FTNT) at 38.84 and Twilio (TWLO) at 25.38 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

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

TWLO

Software & Services industry group

25.38

Max: 112.94
Q3: 60.32
Median: 32.91
TWLO: 25.38
Q1: 18.77
Min: 6.69

Fortinet (FTNT) vs. Twilio (TWLO): A comparison of their P/E ratio against the Software & Services industry group benchmark.

P/S Ratio (TTM)

Twilio (TWLO) at 5.36 is priced about in line with its industry on P/S ratio, while Fortinet (FTNT) at 11.08 sits in the pricier quartile — FTNT costs more per dollar of sales.

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

TWLO

Software & Services industry group

5.36

Max: 17.91
Q3: 8.78
TWLO: 5.36
Median: 4.25
Q1: 2.23
Min: 0.02

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

P/B Ratio (MRQ)

Twilio (TWLO) at 3.41 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

TWLO

Software & Services industry group

3.41

Max: 16.63
Q3: 8.50
Median: 4.30
TWLO: 3.41
Q1: 1.92
Min: -3.90

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

Valuation Metrics

Valuation metrics for Fortinet (FTNT) and Twilio (TWLO)
Metric	FTNT	TWLO
P/E Ratio (TTM)	38.84	25.38
P/S Ratio (TTM)	11.08	5.36
P/B Ratio (MRQ)	38.85	3.41
Free Cash Flow Yield (TTM)	2.85%	3.45%