COMPARE · Reviewed August 3, 2026
FTNT vs QLYS
Verdict: Side-by-side breakdown using the Bull Rankings model. FTNT scored 63.1, QLYS scored 72.0 — QLYS leads.
Compare another set
Different reporting periods. FTNT's fundamentals are as of June 2026, but QLYS's are as of March 2026 — a 3-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
FTNT
Fortinet, Inc.
63.1
$163.21 · $119.7B
fundamentals as of
Score gap
8.9
QLYS leads
QLYS
Qualys, Inc.
72
$154.89 · $5.5B
fundamentals as of
The model, pillar by pillar (0–100 each)
FTNT
stronger →← stronger
QLYS
92
Qualityreturns · margins · balance sheet
94
99
Growthrevenue & earnings expansion
85
28
Valuevaluation vs sector peers
47
QLYS is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
FTNT
QLYS
$3.1bB
FCF
$290mC
+18.8%B+
Rev
+10.2%B
0.36B
D/E
0.09B+
57.7xC+
P/E
27.8xB
2.24C
PEG
5.68D
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
FTNT
QLYS
140% above
Price vs fair valuelower is cheaper
26% below
~29%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-1%/yr
-61%
1-yr DCF upside
+24%
-58%
5-yr DCF upside
+34%
-54%
10-yr DCF upside
+52%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
FTNT
Why this score
- Buying back stock
- Durable high returns
QLYS
Why this score
- Buying back stock
- Durable high returns
The companies
FTNTFortinet, Inc.
Why now
Software - Infrastructure · market cap $119.7b. 4% off the 52-week high of $170.35. Revenue growing +19%, comfortably above the S&P median. 37 sell-side analysts rate this a Hold with a mean 1-yr target of $159.51 (implying -2% upside).
Moat
Net margin 28% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. FCF converts 147% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined. $119.7b market cap gives the company enough scale to absorb fixed costs that subscale competitors can't, without yet being so large that growth has to come from acquisition.
Risk
Trailing P/E 57.7x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. P/S 15.9x embeds aggressive forward growth — disappointing top-line guidance would compress the multiple hard. Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
QLYSQualys, Inc.
Why now
Software - Infrastructure · market cap $5.5b. 8% off the 52-week high of $167.86. Revenue growing +10%, comfortably above the S&P median. 18 sell-side analysts rate this a Hold with a mean 1-yr target of $131.13 (implying -15% upside).
Moat
Net margin 29% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 35% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 144% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.