Fortinet vs. CrowdStrike: Both Grew 26%. Why Pay Four Times the Earnings Multiple?

Fortinet, Inc. (NASDAQ:FTNT) and CrowdStrike Holdings, Inc. (NASDAQ:CRWD) each reported roughly 26% revenue growth in their latest quarters. Investors nevertheless pay about 53 times Fortinet’s current-year adjusted earnings guidance and 215 times CrowdStrike’s. The gap raises a useful question: how much more should durable subscription growth cost when the cheaper company already earns substantial reported […]