As of Q4'25, FTNT's latest P/S Ratio stands at 30.98, marking a substantial increase from the previous quarter's value of 9.28. This sharp rise represents a significant deviation from the recent trend and is the highest value observed in the period covered. From Q1'23 to Q4'25, the P/S Ratio for FTNT has exhibited considerable volatility, with values generally ranging between 7.35 and 14.21 before the dramatic spike in Q4'25. The ratio declined steadily from 10.98 in Q1'23 to a low of 7.35 in Q3'23, followed by moderate fluctuations and a brief peak at 14.21 in Q4'24. The abrupt surge to 30.98 in Q4'25 suggests a notable market revaluation or a significant change in revenue expectations, highlighting a key inflection point in the company's valuation trend.