Fortinet Inc. (FTNT) Next Earnings Date & Expected ±12.5% Move

Per the Roarable RQD rating, FTNT scores 74 out of 100, graded B, with the verdict "Roarable Buy — Good Risk/Reward." The five pillars are:

• Fundamental Cash Engine: 18 / 20. Per the Roarable RQD rating, this pillar reflects ROIC of 20.2% and an FCF yield of 2.24%. For a prospective investor, the high return on invested capital is a genuine strength, but the low FCF yield means the stock's cash generation is priced richly relative to its current price.
• Whale 13F Flow: 10 / 20. Per the Roarable RQD rating, this pillar covers institutional accumulation and options positioning. It is the weakest-scoring pillar, suggesting institutional conviction is only moderate in the source data.
• Insider Conviction: 13 / 20. Per the Roarable RQD rating, this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The moderate score indicates insider signals are present but not strongly directional.
• Macro Regime Fit: 15 / 20. Per the Roarable RQD rating, beta is 1.14 with sector sensitivity noted. For an investor, this implies the stock tends to move somewhat more than the broader market, amplifying both gains and drawdowns in volatile regimes.
• Forensic Balance Sheet: 18 / 20. Per the Roarable RQD rating, Altman Z is 8.04, Piotroski F is 9/9, and Debt/Equity is 0.4. These readings point to a financially sound balance sheet with low distress risk.

Taken together, the investor implication is that the score is driven by strong profitability and balance-sheet quality, while valuation (see Snapshot) and institutional/insider conviction are the more contested elements. The "Good Risk/Reward" label is a Roarable model output and should be weighed against the valuation multiples and the recent price decline noted below.

Per the SEC financials, operating margin is 30.7% and net margin is 27.3%, with gross margin at 80.5% per the market data. Per the Roarable RQD rating, ROIC is 20.2%, the Altman Z-Score is 8.04, and the Piotroski F-Score is 9/9. The balance sheet posture is low-leverage per the Debt/Equity reading of 0.4 in the RQD rating, though the FY 2023 debt figure of $13135.1M against FY 2025 debt of $496.6M shows a large shift that the source does not explain.

Per the recent news feed, headlines include a report on a 119.9% rise over six months, a report on a more-than-20% single-day plunge, and reports stating earnings topped views while billings growth underwhelmed. A MarketWatch headline describes the stock "taking a dive after earnings," and a Reuters headline attributes a software-sector slide to Fortinet and ServiceNow failing to meet investor expectations. Per the market data, the stock change is -20.09%. Watch items include billings growth and expectation risk following earnings. The Butterfly Supply-Chain Graph reports no proprietary signals and no links.

• What drove the reported change from FY 2023 to FY 2025 in debt (from $13135.1M to $496.6M), and was it a repayment, reclassification, or other event?
• What is the EPS for FY 2023 through FY 2025, since the financials list EPS as N/A for all periods?
• What is the cash balance for FY 2023, which the source lists as N/A?
• What specific billings figures underlie the reported earnings-versus-billings divergence?
• What portion of the 52-week range move and recent -20.09% change reflects company-specific news versus sector-wide software repricing?