Quick verdict: FTNT vs MSI in 2026

Overall, Fortinet (FTNT) holds an edge in several key performance metrics, particularly in growth and profitability, while Motorola Solutions (MSI) appeals to analysts and offers slightly more near-term upside according to consensus targets. FTNT demonstrates stronger revenue growth and significantly better operating margins, whereas MSI is favored for its analyst consensus and a more attractive P/B ratio. For investors weighing ftnt vs msi stock comparison 2026, the choice hinges on priorities like aggressive growth versus a more established, analyst-backed profile. Not investment advice.

FTNT vs MSI: key metrics side by side

Full side-by-side comparison of FTNT and MSI across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-07.

FTNT vs MSI valuation comparison

Comparing the FTNT vs MSI valuation, we observe nuanced differences in how the market prices these technology players. Fortinet (FTNT) currently trades at a P/E ratio of 34.0x, slightly higher than Motorola Solutions (MSI) at 33.46x. This indicates that investors are willing to pay a marginally higher multiple for Fortinet’s earnings. However, the picture changes when we look at the Price-to-Book (P/B) ratio, where FTNT stands at a significantly higher 67.15x compared to MSI’s 29.91x, suggesting MSI is considerably cheaper on an asset basis.

From a discounted cash flow (DCF) perspective, Fortinet appears to offer a greater potential upside. FTNT’s current price of $89.95 is estimated to have an 11.3% upside to its DCF value of $100.14. In contrast, Motorola Solutions, priced at $433.66, shows a 6.2% upside to its DCF value of $460.64. While MSI presents a lower P/B, FTNT’s stronger DCF upside suggests its intrinsic value may be underappreciated to a greater extent. Investors focusing on ftnt vs msi fundamentals and valuation will need to weigh these factors carefully, considering if Fortinet’s higher growth potential justifies its elevated P/B ratio.

FTNT vs MSI growth comparison

When evaluating FTNT vs MSI stock comparison 2026 from a growth perspective, Fortinet (FTNT) clearly demonstrates stronger momentum. FTNT reported an impressive year-over-year revenue growth of 14.2%, significantly outpacing Motorola Solutions (MSI), which posted an 8.0% revenue growth. This higher growth rate for Fortinet aligns with its position in the cybersecurity sector, a market often characterized by rapid expansion and evolving threats, giving it a clear advantage in terms of forward estimates for revenue expansion.

Beyond top-line growth, Fortinet also showcases superior profitability margins, which further underscores its efficient growth. FTNT’s net margin stands at a robust 27.49%, nearly 10 percentage points higher than MSI’s 18.44%. Similarly, Fortinet’s EBITDA margin of 34.8% surpasses Motorola Solutions’ 30.17%. These strong margins, coupled with higher revenue growth, suggest that Fortinet is not only growing faster but also converting that growth into profits more effectively. For investors prioritizing companies with strong growth potential and operational efficiency, Fortinet exhibits a more compelling profile.

FTNT vs MSI profitability

In terms of profitability, Fortinet (FTNT) emerges as the clear leader when comparing FTNT vs MSI fundamentals. FTNT boasts a net margin of 27.49%, substantially higher than Motorola Solutions’ (MSI) 18.44%. This indicates that for every dollar of revenue, Fortinet retains a significantly larger portion as net income, showcasing superior operational efficiency and cost management. Furthermore, Fortinet’s EBITDA margin of 34.8% also exceeds MSI’s 30.17%, reinforcing its stronger core operational profitability before interest, taxes, depreciation, and amortization. Notably, FTNT also maintains a significantly higher gross margin at 80.67% compared to MSI’s 50.18%, highlighting its strong pricing power and cost control at the fundamental product or service level.

While Return on Equity (ROE) is listed as N/A% for both companies, making a direct comparison impossible on that specific metric, other indicators provide insight into their cash generation. Fortinet’s Free Cash Flow (FCF) yield is 3.66%, slightly higher than MSI’s 3.57%. This suggests that Fortinet generates marginally more cash relative to its enterprise value, which is a positive sign for investors seeking companies that can self-fund growth and provide shareholder returns. Overall, FTNT’s ability to maintain higher margins across multiple profitability metrics suggests it generates more cash and profits from its operations compared to MSI.

Analyst ratings: FTNT vs MSI

The analyst community presents a divided yet informative perspective when considering the ftnt vs msi stock comparison 2026. For Fortinet (FTNT), out of 68 analysts covering the stock, 44.1% currently have a “Buy” rating. The consensus among these analysts is “Hold,” with an average target price of $87.59. This target price actually represents a -2.6% downside from its current trading price of $89.95, indicating that analysts believe the stock may be slightly overvalued or has limited near-term upside.

In contrast, Motorola Solutions (MSI) receives a more bullish outlook from analysts. Out of 33 analysts, a substantial 69.7% recommend “Buy,” leading to a consensus rating of “Buy” for MSI. The average analyst target price for MSI is $481.25, which suggests an attractive +11.0% upside from its current price of $433.66. This strong endorsement and positive price target upside indicate that analysts collectively prefer MSI, viewing it as a stock with better near-term appreciation potential and a more favorable risk/reward profile based on current estimates.

Should I buy FTNT or MSI stock in 2026?

When deciding should I buy FTNT or MSI stock in 2026, growth investors might find Fortinet (FTNT) more appealing. FTNT boasts a higher revenue growth rate of 14.2% year-over-year, significantly outpacing MSI’s 8.0%. Moreover, Fortinet exhibits superior profitability with a net margin of 27.49% and an EBITDA margin of 34.8%, demonstrating its ability to efficiently convert revenue into profit. Its robust position in the cybersecurity market suggests continued expansion, making it an an attractive option for those prioritizing top-line expansion and strong operational performance in their ftnt vs msi stock comparison 2026 analysis.

For value-oriented investors conducting a thorough ftnt vs msi fundamentals and valuation assessment, Motorola Solutions (MSI) presents a compelling argument. While its P/E ratio (33.46x) is only marginally lower than FTNT’s (34.0x), MSI’s Price-to-Book ratio of 29.91x is substantially more attractive compared to FTNT’s 67.15x. This suggests that MSI’s assets are valued more conservatively by the market. Additionally, MSI carries a “Buy” consensus from analysts with a positive price target upside of +11.0%, indicating external confidence in its future performance and potential for capital appreciation, despite FTNT having a slightly better DCF upside.

Regarding income generation, the choice between FTNT and MSI is straightforward. Fortinet (FTNT) currently offers a 0% dividend yield, meaning it does not distribute profits to shareholders through dividends. Motorola Solutions (MSI), however, provides a nominal dividend yield of 0.01%. While this is a very small yield, it means MSI is the only option if dividend income, no matter how minor, is a factor in your investment decision between these two stocks. Investors seeking substantial dividend income would likely need to look elsewhere. This is not investment advice.

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FAQ: FTNT vs MSI