COMPARE · Reviewed August 3, 2026
FTNT vs RBRK
Verdict: Side-by-side breakdown using the Bull Rankings model. FTNT scored 63.1, RBRK scored 56.0 — FTNT leads.
Compare another set
FTNT
Fortinet, Inc.
63.1
$163.21 · $119.7B
fundamentals as of
Score gap
7.1
FTNT leads
RBRK
Rubrik, Inc.
56
$74.74 · $15.4B
fundamentals as of
The model, pillar by pillar (0–100 each)
FTNT
stronger →← stronger
RBRK
92
Qualityreturns · margins · balance sheet
50
99
Growthrevenue & earnings expansion
100
28
Valuevaluation vs sector peers
35
RBRK is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
FTNT
RBRK
$3.1bB
FCF
$294mC
+18.8%B+
Rev
+45.7%A
0.36B
D/E
—
57.7xC+
P/E
—
2.24C
PEG
—
—
P/S
10.8xC
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
FTNT
RBRK
140% above
Price vs fair valuelower is cheaper
153% above
~29%/yr
Growth the price implies10-yr FCF · lower = less priced in
~40%/yr
-61%
1-yr DCF upside
-70%
-58%
5-yr DCF upside
-61%
-54%
10-yr DCF upside
-42%
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
RBRK
Why this score
- Diluting shareholders
- Short track record
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.
RBRKRubrik, Inc.
Why now
Software - Infrastructure · market cap $15.4b. Down 25% from 52-week high of $99.75 — deep drawdown territory. Revenue growing +46% — in hypergrowth territory. 26 sell-side analysts publish a mean 1-yr target of $95.23 (implying +27% upside).
Moat
Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
P/S 10.8x embeds aggressive forward growth — disappointing top-line guidance would compress the multiple hard. Net margin 4.2% is thin — operating leverage cuts both ways; input-cost inflation or pricing pressure hits the bottom line first. ROE -12% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate.
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.