A Decade of EBITDA: Applied Materials vs. Fortinet

In the ever-evolving landscape of technology, understanding financial health is crucial. Over the past decade, Applied Materials, Inc. and Fortinet, Inc. have showcased contrasting EBITDA trajectories. From 2014 to 2023, Applied Materials experienced a robust growth of over 300%, peaking in 2024 with an EBITDA of approximately $8.26 billion. This reflects their strategic advancements in semiconductor technology.

Conversely, Fortinet, a leader in cybersecurity, saw its EBITDA grow by an impressive 1,700% from 2014 to 2023, reaching around $1.47 billion. This surge underscores the increasing demand for cybersecurity solutions in a digital-first world.

While Applied Materials consistently outperformed Fortinet in absolute terms, Fortinet's rapid growth rate highlights its potential in the cybersecurity sector. Notably, 2024 data for Fortinet is missing, leaving room for speculation on its future trajectory. This comparison offers a compelling insight into the financial dynamics of two tech giants.