Fortinet vs ServiceNow
ServiceNow is the larger business, with $13.28bn of revenue in fiscal 2025 against $6.80bn for Fortinet (2.0 times as much). ServiceNow grew faster (20.9% against 14.2%). Fortinet kept more of each dollar of sales as profit: a net margin of 27.3% against 13.2%. ServiceNow carries less debt relative to equity (11.5% against 80.8%).
| Latest fiscal year | FortinetFTNT, 2025 | ServiceNowNOW, 2025 |
|---|---|---|
| Revenue | $6.80bn | $13.28bn |
| Revenue growth | 14.2% | 20.9% |
| Net income | $1.85bn | $1.75bn |
| Operating margin | 30.7% | 13.7% |
| Net margin | 27.3% | 13.2% |
| Return on equity | 135.7% | 15.5% |
| Free cash flow | $2.23bn | $4.58bn |
| Cash | $2.50bn | $3.73bn |
| Total debt | $1.00bn | $1.49bn |
| Debt to equity | 80.8% | 11.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $2.29bn | $1.84bn |
| Employees | 14,138 | 26,293 |
| Market value | $93.68bn | $112.82bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 82 (Strong) | 56 (Moderate) |
| Insider trades, 12 months | 0 buys, 58 sales | 2 buys, 29 sales |