FTNT vs. MPWR
FTNT (Fortinet, Inc.) and MPWR (Monolithic Power Systems, Inc.) are both stocks. Both are in the Technology sector — FTNT in Software - Infrastructure, MPWR in Semiconductors. Over the past 10 years, FTNT returned 36.02%/yr vs 37.94%/yr for MPWR. At a 0.46 correlation, their price movements are largely independent.
Performance
FTNT vs. MPWR - Performance Comparison
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Returns By Period
In the year-to-date period, FTNT achieves a 84.23% return, which is significantly higher than MPWR's 74.38% return. Over the past 10 years, FTNT has underperformed MPWR with an annualized return of 36.02%, while MPWR has yielded a comparatively higher 37.94% annualized return.
FTNT
- 1D
- 0.85%
- 1M
- 24.31%
- YTD
- 84.23%
- 6M
- 77.94%
- 1Y
- 43.91%
- 3Y*
- 27.56%
- 5Y*
- 26.15%
- 10Y*
- 36.02%
MPWR
- 1D
- -0.77%
- 1M
- -4.43%
- YTD
- 74.38%
- 6M
- 67.26%
- 1Y
- 121.18%
- 3Y*
- 44.43%
- 5Y*
- 36.35%
- 10Y*
- 37.94%
FTNT vs. MPWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTNT Fortinet, Inc. | 84.23% | -15.95% | 61.42% | 19.72% | -31.98% | 141.97% | 39.13% | 51.58% | 61.20% | 45.05% |
MPWR Monolithic Power Systems, Inc. | 74.38% | 54.45% | -5.55% | 79.78% | -27.78% | 35.49% | 107.49% | 54.80% | 4.49% | 38.23% |
Correlation
The correlation between FTNT and MPWR is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009 | 0.46 |
Over the past year, the correlation between FTNT and MPWR has dropped to 0.09 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
Fundamentals
FTNT:
$108.67B
MPWR:
$77.67B
FTNT:
$2.58
MPWR:
$13.89
FTNT:
56.81
MPWR:
113.54
FTNT:
1.58
MPWR:
1.43
FTNT:
15.62
MPWR:
25.93
FTNT:
109.80
MPWR:
21.12
FTNT:
$7.11B
MPWR:
$2.96B
FTNT:
$5.74B
MPWR:
$1.63B
FTNT:
$2.47B
MPWR:
$861.78M
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Return for Risk
FTNT vs. MPWR — Risk / Return Rank
FTNT
MPWR
FTNT vs. MPWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fortinet, Inc. (FTNT) and Monolithic Power Systems, Inc. (MPWR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FTNT | MPWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 5.43 | -4.00 |
| Martin ratioReturn relative to average drawdown | 2.09 | 14.45 | -12.36 |
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Drawdowns
FTNT vs. MPWR - Drawdown Comparison
The maximum FTNT drawdown since its inception was -51.20%, smaller than the maximum MPWR drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for FTNT and MPWR.
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Drawdown Indicators
| FTNT | MPWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.20% | -72.27% | +21.07% |
Max Drawdown (1Y)Largest decline over 1 year | -30.90% | -22.45% | -8.45% |
Max Drawdown (3Y)Largest decline over 3 years | -38.32% | -51.65% | +13.33% |
Max Drawdown (5Y)Largest decline over 5 years | -38.32% | -51.65% | +13.33% |
Max Drawdown (10Y)Largest decline over 10 years | -38.32% | -51.65% | +13.33% |
Current DrawdownCurrent decline from peak | -2.25% | -6.66% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -16.22% | -17.71% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.07% | 8.44% | +12.63% |
Volatility
FTNT vs. MPWR - Volatility Comparison
The current volatility for Fortinet, Inc. (FTNT) is 13.35%, while Monolithic Power Systems, Inc. (MPWR) has a volatility of 20.33%. This indicates that FTNT experiences smaller price fluctuations and is considered to be less risky than MPWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTNT | MPWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.35% | 20.33% | -6.98% |
Volatility (6M)Calculated over the trailing 6-month period | 31.79% | 37.42% | -5.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.18% | 48.53% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.94% | 53.53% | -9.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.88% | 47.23% | -6.35% |
Dividends
FTNT vs. MPWR - Dividend Comparison
FTNT has not paid dividends to shareholders, while MPWR's dividend yield for the trailing twelve months is around 0.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MPWR Monolithic Power Systems, Inc. | 0.42% | 0.69% | 0.85% | 0.63% | 0.85% | 0.49% | 0.55% | 0.90% | 1.03% | 0.71% | 0.98% | 1.26% |
Financials
FTNT vs. MPWR - Financials Comparison
This section allows you to compare key financial metrics between Fortinet, Inc. and Monolithic Power Systems, 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. MPWR - 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%.
MPWR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a gross profit of 445.07M and revenue of 804.19M. Therefore, the gross margin over that period was 55.3%.
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%.
MPWR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported an operating income of 241.15M and revenue of 804.19M, resulting in an operating margin of 30.0%.
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%.
MPWR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a net income of 193.23M and revenue of 804.19M, resulting in a net margin of 24.0%.
Frequently Asked Questions
FTNT and MPWR have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPWR has higher volatility (20.33%) compared to FTNT (13.35%). In terms of maximum drawdown, FTNT dropped -51.20% vs MPWR's -72.27%.
MPWR currently has the higher Sharpe Ratio (2.51 vs 0.98), 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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