FTNT vs. CYBR

Last updated Jun 9, 2026

FTNT (Fortinet, Inc.) and CYBR (CyberArk Software Ltd.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

FTNT vs. CYBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fortinet, Inc. (FTNT) and CyberArk Software Ltd. (CYBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

CYBR

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTNT vs. CYBR - 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%
CYBR CyberArk Software Ltd.	-8.34%	33.89%	52.09%	68.95%	-25.18%	7.23%	38.61%	57.24%	79.13%	-9.03%

Correlation

The correlation between FTNT and CYBR is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 25, 2014	0.54

The correlation between FTNT and CYBR has been stable across timeframes, ranging from 0.46 to 0.56 - a consistent structural relationship.

Fundamentals

Market Cap FTNT : $106.25B CYBR : $20.69B
EPS FTNT : $2.58 CYBR : -$2.92
PS Ratio FTNT : 15.27 CYBR : 15.13
PB Ratio FTNT : 107.36 CYBR : 8.61
Total Revenue (TTM) FTNT : $7.11B CYBR : $1.36B
Gross Profit (TTM) FTNT : $5.74B CYBR : $1.01B
EBITDA (TTM) FTNT : $2.47B CYBR : $59.13M

Return for Risk

FTNT vs. CYBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTNT

FTNT Risk / Return Rank: 65
FTNT Sharpe Ratio Rank: 68
FTNT Sortino Ratio Rank: 62
FTNT Omega Ratio Rank: 68
FTNT Calmar Ratio Rank: 65
FTNT Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTNT vs. CYBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fortinet, Inc. (FTNT) and CyberArk Software Ltd. (CYBR). 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	CYBR	Difference
Sharpe ratio: Return per unit of total volatility	0.81	—	—
Sortino ratio: Return per unit of downside risk	1.30	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.18	—	—
Martin ratio: Return relative to average drawdown	1.73	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FTNT	CYBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	—	—

Drawdowns

Drawdown Indicators

	FTNT	CYBR	Difference
Max Drawdown Largest peak-to-trough decline	-51.20%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-30.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-38.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.32%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.32%	—	—
Current Drawdown Current decline from peak	-4.43%	—	—
Average Drawdown Average peak-to-trough decline	-16.24%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	21.06%	—	—

Volatility

Volatility by Period

	FTNT	CYBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	31.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.03%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.89%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.86%	—	—

Dividends

FTNT vs. CYBR - Dividend Comparison

Neither FTNT nor CYBR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

FTNT vs. CYBR - Profitability Comparison

The chart below illustrates the profitability comparison between Fortinet, Inc. and CyberArk Software Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

CYBR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CyberArk Software Ltd. reported a gross profit of 267.25M and revenue of 372.65M. Therefore, the gross margin over that period was 71.7%.

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%.

CYBR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CyberArk Software Ltd. reported an operating income of 1.75M and revenue of 372.65M, resulting in an operating margin of 0.5%.

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%.

CYBR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CyberArk Software Ltd. reported a net income of -17.11M and revenue of 372.65M, resulting in a net margin of -4.6%.

Frequently Asked Questions

Can I hold both FTNT and CYBR in my portfolio?

FTNT and CYBR have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.