FTNT vs. AMAT
FTNT (Fortinet, Inc.) and AMAT (Applied Materials, Inc.) are both stocks. Both are in the Technology sector — FTNT in Software - Infrastructure, AMAT in Semiconductor Equipment & Materials. Over the past 10 years, FTNT returned 35.73%/yr vs 36.71%/yr for AMAT. At a 0.43 correlation, their price movements are largely independent.
Performance
FTNT vs. AMAT - Performance Comparison
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Returns By Period
In the year-to-date period, FTNT achieves a 80.13% return, which is significantly lower than AMAT's 91.99% return. Both investments have delivered pretty close results over the past 10 years, with FTNT having a 35.73% annualized return and AMAT not far ahead at 36.71%.
FTNT
- 1D
- -1.13%
- 1M
- 25.40%
- YTD
- 80.13%
- 6M
- 71.24%
- 1Y
- 36.31%
- 3Y*
- 28.12%
- 5Y*
- 25.96%
- 10Y*
- 35.73%
AMAT
- 1D
- 8.64%
- 1M
- 13.17%
- YTD
- 91.99%
- 6M
- 83.99%
- 1Y
- 197.34%
- 3Y*
- 54.75%
- 5Y*
- 30.69%
- 10Y*
- 36.71%
FTNT vs. AMAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTNT Fortinet, Inc. | 80.13% | -15.95% | 61.42% | 19.72% | -31.98% | 141.97% | 39.13% | 51.58% | 61.20% | 45.05% |
AMAT Applied Materials, Inc. | 91.99% | 59.60% | 1.13% | 67.97% | -37.54% | 83.64% | 43.29% | 89.86% | -34.92% | 59.86% |
Correlation
The correlation between FTNT and AMAT is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009 | 0.43 |
Over the past year, the correlation between FTNT and AMAT has dropped to 0.15 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
Fundamentals
FTNT:
$106.25B
AMAT:
$393.24B
FTNT:
$2.58
AMAT:
$10.61
FTNT:
55.54
AMAT:
46.38
FTNT:
1.54
AMAT:
5.90
FTNT:
15.27
AMAT:
13.60
FTNT:
107.36
AMAT:
16.45
FTNT:
$7.11B
AMAT:
$29.02B
FTNT:
$5.74B
AMAT:
$14.21B
FTNT:
$2.47B
AMAT:
$9.92B
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Return for Risk
FTNT vs. AMAT — Risk / Return Rank
FTNT
AMAT
FTNT vs. AMAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fortinet, Inc. (FTNT) and Applied Materials, Inc. (AMAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FTNT | AMAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.55 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 9.29 | -8.11 |
| Martin ratioReturn relative to average drawdown | 1.73 | 26.48 | -24.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTNT | AMAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 4.15 | -3.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.70 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.86 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.43 | +0.32 |
Drawdowns
FTNT vs. AMAT - Drawdown Comparison
The maximum FTNT drawdown since its inception was -51.20%, smaller than the maximum AMAT drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for FTNT and AMAT.
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Drawdown Indicators
| FTNT | AMAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.20% | -85.22% | +34.02% |
Max Drawdown (1Y)Largest decline over 1 year | -30.90% | -21.37% | -9.53% |
Max Drawdown (3Y)Largest decline over 3 years | -38.32% | -49.88% | +11.56% |
Max Drawdown (5Y)Largest decline over 5 years | -38.32% | -55.14% | +16.82% |
Max Drawdown (10Y)Largest decline over 10 years | -38.32% | -55.14% | +16.82% |
Current DrawdownCurrent decline from peak | -4.43% | -1.90% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -16.24% | -38.80% | +22.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.06% | 7.49% | +13.57% |
Volatility
FTNT vs. AMAT - Volatility Comparison
The current volatility for Fortinet, Inc. (FTNT) is 13.29%, while Applied Materials, Inc. (AMAT) has a volatility of 19.01%. This indicates that FTNT experiences smaller price fluctuations and is considered to be less risky than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTNT | AMAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.29% | 19.01% | -5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 31.80% | 37.52% | -5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.03% | 47.94% | -2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.89% | 43.93% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.86% | 42.81% | -1.95% |
Dividends
FTNT vs. AMAT - Dividend Comparison
FTNT has not paid dividends to shareholders, while AMAT's dividend yield for the trailing twelve months is around 0.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMAT Applied Materials, Inc. | 0.39% | 0.69% | 0.93% | 0.75% | 1.05% | 0.60% | 1.01% | 1.36% | 2.14% | 0.78% | 1.24% | 2.14% |
FTNT Fortinet, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
FTNT vs. AMAT - Financials Comparison
This section allows you to compare key financial metrics between Fortinet, Inc. and Applied Materials, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FTNT vs. AMAT - Profitability Comparison
FTNT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported a gross profit of 1.49B and revenue of 1.85B. Therefore, the gross margin over that period was 80.3%.
AMAT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a gross profit of 3.95B and revenue of 7.91B. Therefore, the gross margin over that period was 49.9%.
FTNT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported an operating income of 580.00M and revenue of 1.85B, resulting in an operating margin of 31.4%.
AMAT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported an operating income of 2.52B and revenue of 7.91B, resulting in an operating margin of 31.9%.
FTNT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fortinet, Inc. reported a net income of 534.50M and revenue of 1.85B, resulting in a net margin of 28.9%.
AMAT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a net income of 2.81B and revenue of 7.91B, resulting in a net margin of 35.5%.
Frequently Asked Questions
FTNT and AMAT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMAT has higher volatility (19.01%) compared to FTNT (13.29%). In terms of maximum drawdown, FTNT dropped -51.20% vs AMAT's -85.22%.
AMAT currently has the higher Sharpe Ratio (4.15 vs 0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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