Compare Stocks › FTNT vs LLY

Fortinet, Inc. (FTNT) vs Eli Lilly and Company (LLY): Which Is the Better Buy in 2026?

As of 2026-11-01, FTNT is overvalued at $136, with a DCF intrinsic value of $65 and a margin of safety of -110%. LLY is fairly valued at $1418, with an intrinsic value of $1710 and a margin of safety of 17%. Of the two, LLY has the wider margin of safety.

FTNT

Fortinet, Inc.

$136.08

LLY

Eli Lilly and Company

$1417.54

Rewards

FTNT

★Fortinet, Inc. has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
★Gross margin of 79.8% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
★Fortinet, Inc. scores 86/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.

LLY

★Eli Lilly and Company has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
★Gross margin of 83.6% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
★Eli Lilly and Company scores 73/100 on the Economic Moat Score (Wide Moat), with roic consistency as the strongest competitive dimension.

Risks

FTNT

⚠FCF yield of 2.5% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
⚠Insiders have sold $9.5M worth of stock in the past 3 months — significant insider liquidation.

LLY

⚠FCF yield of 0.7% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
⚠Insiders have sold $10.0M worth of stock in the past 3 months — significant insider liquidation.

Key Valuation Metrics

Learn more →

FTNT

LLY

Valuation

$2.49B

Free Cash Flow

$9.34B

2.49%

FCF Yield

0.74%

44.47

Trailing P/E

46.01

34.97

Forward P/E

28.66

Quality & Moat

75.00%

ROIC

40.83%

153.08%

ROE

86.02%

79.75%

Gross Margin

83.63%

1.50

PEG Ratio

1.36

Balance Sheet Safety

Net cash

Net Debt / Equity

1.11

N/A

Interest Coverage

N/A

-1.54

Net Debt / EBITDA

0.96

0.00%

Dividend Yield

0.49%

FTNT: 5Ties: 3LLY: 4

FTNTLLY

Historical Fundamentals

Learn more →

FTNT

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

LLY

$1 Retained Earnings Test

Learn more →

FTNT

$4.38

created per $1 retained over 3 years

Exceptional Value Creator

Σ Retained

$4.75B

Δ Market Cap

+$20.79B

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

LLY

$27.49

created per $1 retained over 3 years

Exceptional Value Creator

Σ Retained

$22.34B

Δ Market Cap

+$614.01B

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

Learn more →

FTNT

110.5% Overvalued

Price is 110.5% above estimated fair value

Current Price: $136.08

Strongly undervalued

Fairly valued

Strongly overvalued

Fair Value: $64.65

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

LLY

17.1% Margin of Safety

Price is 17.1% below estimated fair value

Current Price: $1417.54

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Fair Value: $1709.89

Strongly undervalued

Undervalued

Fairly valued

Overvalued

Strongly overvalued

Reverse DCF — Market-Implied Growth

Learn more →

FTNT

What growth rate is the market pricing in at $136?

+20.6%

Market-Implied Owner Earnings Growth

Standard FCF implies +16.6%

The market implies +20.6% Owner Earnings growth, below historical trends — potential opportunity.

Standard FCF implies a more demanding +16.6%, reflecting heavy growth investment expected to generate future returns.

LLY

What growth rate is the market pricing in at $1418?

+23.5%

Market-Implied Owner Earnings Growth

Standard FCF implies +34.7%

The market implies +23.5% Owner Earnings growth, below historical trends — potential opportunity.

Standard FCF implies a more demanding +34.7%, reflecting heavy growth investment expected to generate future returns.

Economic Moat Score

Learn more →

FTNT

86/100

Wide Moat

70+ Wide · 40-69 Narrow · <40 None

Wide moat with strength across all dimensions. Revenue Predictability is the standout factor.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.

LLY

73/100

Wide Moat

70+ Wide · 40-69 Narrow · <40 None

Wide moat driven primarily by roic consistency. Reinvestment Efficiency is the area most vulnerable to competitive pressure.

Forensic Accounting

Learn more →

FTNT

-2.61

Unlikely Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

LLY

-1.83

Possible Manipulator

Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Ownership Breakdown

Learn more →

FTNT

Insiders 17.4%Institutions 71.8%Retail & Other 10.8%

No. of Institutional Holders2,356

High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

LLY

Insiders 0.2%Institutions 85.5%Retail & Other 14.4%

No. of Institutional Holders5,906

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

Learn more →

FTNT

Buys (3M)

Buys (12M)

NEUKOM WILLIAM H

Director

$34,912

@ $104.21 · 2025-06-06

NEUKOM WILLIAM H

Director

$34,878

@ $106.34 · 2025-03-06

NEUKOM WILLIAM H

Director

$34,968

@ $98.50 · 2024-12-06

Open market purchases · includes direct & indirect ownership · excludes option exercises

LLY

Buys (3M)

Buys (12M)

MONTARCE LUCAS E

Chief Financial Officer

$494,627

@ $691.79 · 2025-08-15

ALVAREZ RALPH

Director

$500,473

@ $660.25 · 2025-08-13

VAN NAARDEN JACOB S.

Officer

$647,360

@ $647.36 · 2025-08-13

SULZBERGER GABRIELLE

Director

$75,018

@ $641.18 · 2025-08-12

Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

Learn more →

FTNT

Sells (3M)

Sells (12M)

Total value (12M): $136.23M

WHITTLE JOHN

Chief Operating Officer

$9.39M

@ $165.61 · 2026-09-15

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$63,696

@ $164.59 · 2026-08-04

XIE KENNETH QING

Chief Executive Officer

$26.27M

@ $162.66 · 2026-08-03

XIE MICHAEL

Chief Technology Officer

$507,574

@ $162.63 · 2026-08-03

XIE MICHAEL

Chief Technology Officer

$572,144

@ $146.44 · 2026-06-03

XIE KENNETH QING

Chief Executive Officer

$23.39M

@ $145.58 · 2026-06-02

WHITTLE JOHN

Chief Operating Officer

$18.75M

@ $128.41 · 2026-05-21

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$30,940

@ $130.00 · 2026-05-20

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$90,720

@ $120.00 · 2026-05-14

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$27,370

@ $115.00 · 2026-05-11

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$83,160

@ $110.00 · 2026-05-07

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$53,461

@ $89.70 · 2026-05-05

XIE KENNETH QING

Chief Executive Officer

$476,035

@ $88.90 · 2026-05-04

XIE MICHAEL

Chief Technology Officer

$220,281

@ $88.89 · 2026-05-04

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$40,930

@ $80.73 · 2026-02-03

XIE KENNETH QING

Chief Executive Officer

$14.31M

@ $81.42 · 2026-02-02

XIE MICHAEL

Chief Technology Officer

$27.94M

@ $81.42 · 2026-02-02

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$9,515

@ $86.50 · 2025-11-04

XIE KENNETH QING

Chief Executive Officer

$13.71M

@ $86.51 · 2025-11-03

XIE MICHAEL

Chief Technology Officer

$306,825

@ $86.53 · 2025-11-03

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$10,830

@ $98.45 · 2025-08-05

XIE MICHAEL

Officer and Director

$46.94M

@ $98.48 · 2025-08-04

XIE KENNETH QING

Chief Executive Officer

$15.61M

@ $98.48 · 2025-08-04

OHLGART CHRISTIANE MARGRIT

Chief Financial Officer

$121,883

@ $104.71 · 2025-06-06

XIE KENNETH QING

Chief Executive Officer

$16.81M

@ $106.10 · 2025-05-02

XIE MICHAEL

Chief Technology Officer

$376,274

@ $106.11 · 2025-05-02

GOLDMAN KENNETH ALLEN

Director

$200,000

@ $100.00 · 2025-03-12

XIE MICHAEL

Chief Technology Officer

$32.08M

@ $98.17 · 2025-03-11

GOLDMAN KENNETH ALLEN

Director

$99,320

@ $99.32 · 2025-03-10

XIE KENNETH QING

Chief Executive Officer

$19.97M

@ $96.93 · 2025-03-10

JENSEN KEITH FRANKLIN

Chief Financial Officer

$1.93M

@ $109.18 · 2025-02-26

JENSEN KEITH FRANKLIN

Chief Financial Officer

$2.67M

@ $113.56 · 2025-02-19

XIE KENNETH QING

Chief Executive Officer

$4.89M

@ $107.68 · 2025-02-12

XIE KENNETH QING

Chief Executive Officer

$4.27M

@ $92.79 · 2025-01-15

XIE KENNETH QING

Chief Executive Officer

$4.43M

@ $96.70 · 2024-12-18

JENSEN KEITH FRANKLIN

Chief Financial Officer

$1.69M

@ $95.66 · 2024-11-26

JENSEN KEITH FRANKLIN

Chief Financial Officer

$386,013

@ $90.83 · 2024-11-19

XIE KENNETH QING

Chief Executive Officer

$4.53M

@ $98.79 · 2024-11-13

WHITTLE JOHN

Chief Operating Officer

$3.29M

@ $85.56 · 2024-11-08

JENSEN KEITH FRANKLIN

Chief Financial Officer

$4.84M

@ $85.36 · 2024-11-08

XIE MICHAEL

Chief Technology Officer

$1.95M

@ $78.86 · 2024-11-04

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

LLY

Sells (3M)

Sells (12M)

Total value (12M): $2.40B

JONSSON PATRIK

Officer

$7.64M

@ $1175.10 · 2026-08-17

ZAKROWSKI DONALD A

Officer

$2.37M

@ $1185.01 · 2026-08-10

YUFFA ILYA

Officer

$2.88M

@ $1150.77 · 2026-06-10

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$15.75M

@ $995.36 · 2026-05-06

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$322.38M

@ $1103.48 · 2026-01-07

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$1.51M

@ $1085.01 · 2026-01-05

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$3.90M

@ $1085.04 · 2025-12-29

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$2.85M

@ $1085.17 · 2025-12-24

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$260,409

@ $1085.04 · 2025-12-23

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$161.08M

@ $1095.35 · 2025-11-25

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$17.34M

@ $1109.30 · 2025-11-25

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$152.06M

@ $1068.52 · 2025-11-24

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$111.50M

@ $1058.66 · 2025-11-21

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$39.07M

@ $1051.66 · 2025-11-20

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$176.10M

@ $1051.17 · 2025-11-19

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$62.31M

@ $1034.78 · 2025-11-18

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$10.19M

@ $1030.68 · 2025-11-17

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$183.80M

@ $1030.87 · 2025-11-14

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$48.02M

@ $1030.26 · 2025-11-13

ZAKROWSKI DONALD A

Officer

$1.01M

@ $1010.50 · 2025-11-13

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$308.41M

@ $1011.18 · 2025-11-12

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$279.35M

@ $986.64 · 2025-11-11

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$16.41M

@ $972.52 · 2025-11-10

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$38.47M

@ $951.56 · 2025-11-05

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$167.09M

@ $933.26 · 2025-11-05

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$479,038

@ $910.72 · 2025-11-04

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$266.65M

@ $888.83 · 2025-11-03

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$260.17M

@ $863.35 · 2025-10-31

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$3.16M

@ $863.24 · 2025-10-10

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$9.04M

@ $852.49 · 2025-10-09

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$86.23M

@ $850.27 · 2025-10-08

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$22.72M

@ $848.01 · 2025-10-07

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$137.04M

@ $850.22 · 2025-10-06

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$161.22M

@ $837.93 · 2025-10-03

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$92.50M

@ $821.55 · 2025-10-02

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$107.36M

@ $794.15 · 2025-10-01

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$177.29M

@ $821.47 · 2025-10-01

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$86.79M

@ $763.39 · 2025-09-30

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$18.06M

@ $763.09 · 2025-09-19

LILLY ENDOWMENT, INC.

Beneficial Owner of more than 10% of a Class of Security

$81.53M

@ $764.65 · 2025-09-18

ZAKROWSKI DONALD A

Officer

$734,930

@ $734.93 · 2025-08-28

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

Learn more →

FTNT

😨Fear(30/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

LLY

😏Greed(73/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

Learn more →

FTNT

⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (30)

LLY

⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (73)

View FTNT Full Analysis View LLY Full Analysis

Frequently Asked Questions: FTNT vs LLY

Is Fortinet, Inc. or Eli Lilly and Company more undervalued in 2026?▼

Based on our discounted cash flow model, LLY trades at a 17.1% margin of safety (intrinsic value $1710 vs. price $1418), compared to FTNT's -110.5% margin of safety (intrinsic $65 vs. $136).

Which stock has a wider economic moat, Fortinet, Inc. or Eli Lilly and Company?▼

FTNT scores 86/100 (Wide moat), while LLY scores 73/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Which company has better free cash flow, Fortinet, Inc. or Eli Lilly and Company?▼

Fortinet, Inc. (FTNT) generates a 2.5% free cash flow yield, compared to Eli Lilly and Company's 0.7%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

Which stock has higher return on invested capital, Fortinet, Inc. or Eli Lilly and Company?▼

FTNT earns 75.0% ROIC versus LLY's 40.8%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.