Quick verdict: FTNT vs INFY in 2026

As of April 2, 2026, Infosys (INFY) holds the overall edge in this stock comparison, winning 7 out of 12 comparable metrics, primarily due to its more attractive valuation and higher potential upside according to analyst and DCF models. Fortinet (FTNT) stands out as the growth and profitability leader, demonstrating superior revenue growth and margins. However, INFY is the clear value leader, presenting a compelling case for investors seeking significant potential appreciation. Not investment advice.

FTNT vs INFY: key metrics side by side

Full side-by-side comparison of FTNT and INFY across valuation, profitability, growth and analyst sentiment. Data updated 2026-04-02.

FTNT vs INFY valuation comparison

When considering the FTNT vs INFY valuation, Infosys (INFY) presents a significantly more attractive profile for value-oriented investors as of early 2026. FTNT trades at a trailing Price-to-Earnings (P/E) ratio of 32.54x, which is nearly double that of INFY’s P/E of 18.08x. This suggests that the market is assigning a much higher earnings multiple to Fortinet, indicative of its faster growth or perceived higher quality, but also implying a less favorable entry point for investors focused on current earnings. The Price-to-Book (P/B) ratio further underscores this disparity, with FTNT at an exceptionally high 48.73x compared to INFY’s modest 6.27x. This wide gap implies that Fortinet is trading at a substantial premium relative to its book value, while Infosys remains closer to its tangible asset base.

The discounted cash flow (DCF) analysis also strongly favors INFY, indicating a substantial undervaluation. FTNT’s DCF suggests an upside of +9.5% from its current price of $81.15 to a fair value of $88.87. In contrast, INFY’s DCF points to a massive potential upside of +114.7% from its current price of $13.3 to a fair value of $28.56. This significant difference in DCF upside suggests that Infosys is considerably cheaper and offers a much larger margin of safety and potential for capital appreciation based on its future cash flow projections. Therefore, for investors prioritizing valuation, INFY appears to be the more compelling choice in the FTNT vs INFY valuation comparison.

FTNT vs INFY growth comparison

In terms of growth, Fortinet (FTNT) clearly exhibits stronger momentum compared to Infosys (INFY), driven by its position in the rapidly expanding cybersecurity sector. FTNT reported a revenue growth of +14.2% year-over-year, which is significantly higher than INFY’s revenue growth of +3.9%. This substantial difference highlights Fortinet’s ability to capture market share and expand its top line at a more accelerated pace. The demand for robust cybersecurity solutions continues to escalate across industries, providing a fertile ground for companies like Fortinet to thrive and sustain high growth rates.

While specific forward estimates beyond revenue growth are not provided, the current growth figures suggest that Fortinet has stronger operational momentum. Its superior revenue growth rate, coupled with higher net and EBITDA margins (27.26% and 36.09% respectively for FTNT, versus 16.16% and 23.57% for INFY), indicates that FTNT is not only growing faster but also more efficiently converting that revenue into profit. Infosys, as a large IT services provider, faces different market dynamics, often characterized by more mature, but also more competitive, growth environments. For investors prioritizing top-line expansion and market leadership in a high-growth industry, Fortinet clearly takes the lead in the FTNT vs INFY growth comparison.

FTNT vs INFY profitability

Fortinet (FTNT) demonstrates superior profitability metrics compared to Infosys (INFY) when looking at margins. FTNT boasts a robust net margin of 27.26%, significantly higher than INFY’s 16.16%. This indicates that Fortinet is more effective at converting its revenue into actual profit for shareholders after all expenses, including taxes, are accounted for. Similarly, FTNT’s EBITDA margin stands at an impressive 36.09%, outperforming INFY’s 23.57%. These higher margins for Fortinet reflect strong operational efficiency and potentially greater pricing power within its specialized cybersecurity market.

However, when examining Free Cash Flow (FCF) yield, Infosys takes the lead. INFY exhibits a FCF yield of 6.72%, which is higher than FTNT’s 3.69%. This metric suggests that Infosys generates more free cash flow relative to its market capitalization, indicating strong cash generation capability that can be used for reinvestment, debt reduction, or shareholder returns. Unfortunately, the Return on Equity (ROE) data is not available for either company (“N/A%”), preventing a direct comparison of how efficiently each company generates profits from shareholder investments. Nevertheless, while FTNT excels in margin-based profitability, INFY’s higher FCF yield suggests it generates more actual cash for every dollar of its market value, offering a different perspective on financial health and shareholder value creation.

Analyst ratings: FTNT vs INFY

Examining the analyst ratings for FTNT vs INFY reveals a nuanced preference among professionals. Fortinet (FTNT) has a slightly higher percentage of ‘Buy’ ratings, with 44.1% of the 68 analysts covering the stock recommending a buy. This compares to Infosys (INFY), where 37.5% of the 40 analysts have a ‘Buy’ recommendation. Despite the difference in buy ratings, both companies currently hold a “Hold” consensus rating from analysts, suggesting a cautious but not overtly negative sentiment for both technology giants.

While FTNT has a marginally higher ‘Buy’ percentage, INFY presents a far more compelling upside according to analyst price targets. The consensus price target for FTNT is $85.67, representing a modest upside of +5.6% from its current price of $81.15. In stark contrast, the consensus target for INFY is $18.08, indicating a substantial potential upside of +35.9% from its current price of $13.3. This significant difference suggests that analysts, while maintaining a ‘Hold’ consensus for both, see considerably more room for appreciation in Infosys’s stock price over the coming period. For investors prioritizing potential price appreciation based on analyst projections, INFY appears to be the favored choice despite FTNT having a slightly higher proportion of explicit ‘Buy’ recommendations.

Should I buy FTNT or INFY stock in 2026?

For growth investors looking for strong top-line expansion, Fortinet (FTNT) appears to be the more attractive option in 2026. With a robust year-over-year revenue growth of +14.2%, significantly outpacing INFY’s +3.9%, FTNT is capitalizing on the high-demand cybersecurity market. Its superior net margin of 27.26% and EBITDA margin of 36.09% further underscore its ability to translate strong revenue growth into high profitability, making it an appealing choice for those prioritizing rapid expansion and efficient operations.

Conversely, value investors seeking a potentially undervalued asset with significant upside should consider Infosys (INFY). INFY’s valuation metrics are considerably more favorable, trading at a P/E ratio of 18.08x compared to FTNT’s 32.54x, and a P/B ratio of 6.27x versus FTNT’s 48.73x. Furthermore, the discounted cash flow (DCF) model indicates a substantial +114.7% upside for INFY, far surpassing FTNT’s +9.5% upside. This suggests a compelling opportunity for investors who believe the market has not yet fully recognized INFY’s intrinsic value.

Regarding income, neither FTNT nor INFY are significant dividend plays. Fortinet currently offers a 0% dividend yield, while Infosys provides a minimal dividend yield of 0.03%. Therefore, investors primarily focused on generating income from their investments would find both stocks less appealing compared to high-dividend payers. Your decision on whether to buy FTNT or INFY stock in 2026 should align with your investment strategy, weighing FTNT’s growth and profitability against INFY’s value and significant potential for price appreciation. This is not investment advice.

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