FORTINET, INC. vs Sandisk Corporation, two Computer Hardware stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
One sells subscriptions to safety, the other sells a commodity that briefly stopped acting like one. Fortinet's security franchise earns an 80.3% gross margin every year by design; Sandisk's 78.4% is what flash pricing does at the top of its cycle, no more permanent than the shortage that caused it. Operating margins invert the story, 69.1% at Sandisk against 31.4% at Fortinet, cycle beating franchise for now. The market prices them 58.6 and 72.5 times, paying more per dollar for the temporary number. Sandisk's debt-free sheet and 4.8 current ratio brace for the turn its own economics predict; Fortinet's 0.5 leverage funds buybacks. Two high multiples, one renewable, one weather-dependent.
Comparison updated 2026-07-10.
| Metric | FTNT | SNDK |
|---|---|---|
| Price | $151.29 | $2084.54 |
| Market cap | $112.4B | $327.3B |
| Sector | Computer Hardware | Computer Hardware |
| Stage | Growth | Growth |
| P/E | 58.6 | 72.5 |
| P/B | 113.55 | 23.76 |
| P/S | 15.81 | 24.82 |
| EV/EBITDA | 46.8 | 59.9 |
| Revenue growth | +15.7% | +111.6% |
| Gross margin | 80.3% | 78.3% |
| Operating margin | 31.4% | 69.1% |
| Net margin | 27.5% | 34.2% |
| Return on equity | 197.5% | 32.7% |
| Return on assets | 19.8% | 26.4% |
| Return on invested capital | 117.5% | 34.3% |
| FCF yield | 2.2% | 1.4% |
| Debt / equity | 0.50 | 0.00 |
| Current ratio | 1.15 | 4.78 |
| Altman Z (solvency) | 6.89 | 8.30 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.