Fortinet (FTNT)
Information Technology · Cybersecurity and Network Security · NASDAQ
Fortinet delivers high-performance, AI-powered cybersecurity through a converged platform that uniquely integrates networking and security across physical, cloud, and edge environments.
What Fortinet does
Fortinet is a global cybersecurity company that drives the convergence of networking and security through its integrated platform, the Fortinet Security Fabric. The company provides a wide range of solutions across secure networking, unified Secure Access Service Edge (SASE), and AI-driven security operations. Its offerings span hardware appliances, virtual machines, cloud-native services, and SaaS to protect enterprises, service providers, and government organizations.
Themes: cybersecurity, AI-driven security operations (SecOps), secure networking, Zero Trust architecture, operational technology (OT) security, SASE (Secure Access Service Edge), cloud security, hybrid cloud infrastructure
Fundamentals
- Price$153.51 as of 2026-08-21 close
- Market cap$112.6B as of 2026-08-21
- 1-year return+97.4% 2025-08-21 close $77.75 → 2026-08-21 close $153.51
- P/E56.36 as of 2026-08-24
- Net margin+28.2% as of 2026-08-24
- Gross margin+80.2% as of 2026-08-24
- ROE+187.9% as of 2026-08-24
- Debt / equity0.32 as of 2026-08-24
- Revenue growth (YoY)+18.8% as of 2026-08-24
- Revenue CAGR (3y)+15.5% SEC XBRL
- Beta1.03 as of 2026-08-24
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
How FTNT compares in its sector
- price-to-earnings ratiomiddle range 265 covered Information Technology peers, as of 2026-08-24
- net profit margintop 10% 405 covered Information Technology peers, as of 2026-08-24
- operating margintop 10% 405 covered Information Technology peers, as of 2026-08-24
- gross margintop 25% 403 covered Information Technology peers, as of 2026-08-24
- return on equitytop 10% 405 covered Information Technology peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 386 covered Information Technology peers
- free cash flow (absolute dollars, latest fiscal year)top 10% 382 covered Information Technology peers, as of FY2025
Position among covered Information Technology companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
FTNT is not currently in any published Top 10 list. Its scores are below.
Long-term score
Not scored for the long-term list: no shareholder return data.
Short-term score
48.2 #908 of 1,704 scored · #126 of 261 in Information Technology
Catalysts 65th: open-market insider buys in 90 days 24, analysts' average price target is unchanged from the prior reading; setup 54th: no fresh 20-day breakout up or down; weakest is trend 32nd: a strong downtrend, with sellers in control.
Scores as of 21 Aug 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 2.
How Fortinet looks technically
Fortinet (FTNT) is trading 45.7% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 71 trading days ago — a "golden cross", a bullish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 27, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 46, neither overbought (above 70) nor oversold (below 30). It made a new 20-day high about 14 trading days ago.
Trend
8
| Distance from the 200-day | it is trading 45.7% above its 200-day average, the long-term trend line — a longer-term uptrend | +45.7% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $155.92 | $155.92 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $105.34 | $105.34 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing high 16 calendar days ago — the swings before that are what the structure reading is measured on | 16 sessions |
| Wave structure | its recent swings can be read as a completed three-part upward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes above 172.09. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave upward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 71 trading days ago — a "golden cross", a bullish long-term signal | 71 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 27, with sellers in control | 27.2 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 46, neither overbought (above 70) nor oversold (below 30) | 45.9 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($148.25 to $172.09) — its "stochastic" reading is 22 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 22.1 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 11 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $172.09 | $172.09 |
|---|---|---|
| From the 52-week high | it is 10.8% below its 52-week high (its highest price of the past year) | -10.8% |
| Above the 52-week low | it is 108.7% above its 52-week low (its lowest price of the past year) | +108.7% |
| Below the 52-week high | it is 10.8% below its highest point of the past year | 10.8% |
| Since a 20-day breakout | it made a new 20-day high about 14 trading days ago | 14 sessions |
| Since a 55-day breakout | it made a new 55-day high about 14 trading days ago | 14 sessions |
| All-time high | its highest closing price on record is $172.09 (set on 2026-08-05) | $172.09 |
| Given back of the 52-week move | over the past year its closes ranged ($75.23 to $168.29), and it has given back roughly a quarter of its rise from last year’s low — 16% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $107.80 to $110.78. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 15.9% |
| From the all-time high | it is 10.8% below its all-time high | -10.8% |
| Nearest price level | it is trading 1.5% above a support level at $151.16 — a price it turned at twice since 2026-06-04, most recently on 2026-07-09. Since 2024-08-21 it has 14 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -1.5% |
| All-time low | its lowest closing price on record is $1.47 (set on 2010-07-13) | $1.47 |
| Above the all-time low | it is 10328.7% above its all-time low | +10,329% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 40th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $6.21 between its high and its low — about 4.0% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $6.21 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $148.09 and $168.97 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $148.09 – $158.53 – $168.97 |
| Typical daily range (% of price) | its price moves about 4.0% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 4.0% |
| Stretch from the 200-day average | it is trading 7.8 daily ranges above its 200-day average price (45.7% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 7.8 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.80× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
2
| Since a hammer | today, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | today |
|---|---|---|
| Since a bearish engulfing | 5 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 5 sessions ago |
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.7% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.7% |
|---|---|---|
| Open gap | it gapped 2.2% above the previous close 54 sessions ago and has not traded back through the level it left behind at 137.97 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +2.2% |
| Gap filled | a 3.1% gap up opened on 2026-08-07 has been "filled" 10 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 10 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 5.2 percentage points (the stock lost 2.9% while the market gained 2.3%) | -5.2% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 15.5 percentage points (the stock gained 18.6% while the market gained 3.1%) | +15.5% |
| vs market, 6 months | over the past 6 months this stock beat the market by 80.8 percentage points (the stock gained 91.9% while the market gained 11.1%) | +80.8% |
| vs market, 12 months | over the past 12 months this stock beat the market by 77.0 percentage points (the stock gained 97.4% while the market gained 20.5%) | +77.0% |
Signal agreement
2
| Bullish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, outperforming the market over 6 months — these describe past price behaviour, not a forecast | 3 of 9 |
|---|---|---|
| Bearish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bearish state: a strong downtrend, with sellers in control, MACD momentum is negative — these describe past price behaviour, not a forecast | 2 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading inside the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the zone traders read as unresolved — neither side has established a trend, and the band is where that gets settled. The band itself is thick, spanning 20.6% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | 0.0% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 40% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $109.29 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | +40.5% |
|---|---|---|
| Vs the average paid since it last reported | the price is 3% below the average price paid since it last reported on 2026-07-29 (its 8-K), so the typical buyer over that stretch is under water. That average is $158.86 — a volume-weighted average of daily closes over 18 sessions, not a true tick-by-tick VWAP. | -3.4% |
Price levels it has turned at before
FTNT last closed at $153.51 on 2026-08-21. Since 2024-08-21 it has turned at 14 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $151.16 | Support | 1.5% below the last close | turned there twice · 2026-06-04 to 2026-07-09 |
| $171.22 | Resistance | 11.5% above the last close | turned there twice · 2026-07-15 to 2026-08-05 |
| $108.54 | Support | 29.3% below the last close | turned there three times · 2025-05-05 to 2025-07-21 |
| $105.63 | Support | 31.2% below the last close | turned there twice · 2025-05-27 to 2025-06-06 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part upward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes above $172.09.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This labelling was already in place when we began recording count changes on 2026-08-13, so how long it has stood is not something we can say yet.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · beating the market · Printed a hammer candle after a decline · Stretched far above its 200-day average (6+ daily ranges) · Under water since its last earnings report (below the anchored VWAP) · Trading inside the Ichimoku cloud | Learn: moving average · golden cross · adx · rsi · breakout
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Mean price target$160.86 range $86.00 – $220.00; median $165.00
Analyst estimates, as of 2026-08-21. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for FTNT
- Consensus EPS estimate$0.8574 next reporting period, as of 2026-08-21
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Intense competition in the cybersecurity market and the potential for rapid technological obsolescence.","Supply chain constraints and dependence on specific component availability, such as memory chips.","Complexity and unpredictability of sales cycles, particularly when dealing with larger enterprise customers."]
What changed in the latest 10-Q
AI-assisted comparison of FTNT's 10-Q filed 2026-05-08 against the prior one filed 2025-11-07.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-05-08) adds 'Secure Access Service Edge ("SASE")' specification in forward-looking statements section
- Newer filing adds reference to 'expanding' or 'acceleration of' data center footprint and PoP deployment in forward-looking statements
- Newer filing (2026-05-08) specifies '2026' gross margins and operating margins expectations, versus older filing's '2025'
- Newer filing adds bullet point regarding 'our expectation to have sufficient liquidity to meet our operating requirements for at least the next 12 months and thereafter for the foreseeable future'
- Newer filing (2026-05-08) updates patent counts to 1,093 U.S. patents and 1,430 global patents as of March 31, 2026
- Newer filing adds description of FortiOS including 'quantum-resistant cryptographic capabilities'
- Newer filing adds clarification that FortiOS provides 'network visibility and control' in the context of organizational management
- Removed:
- Older filing (2025-11-07) contains reference to 'expectations regarding our gross margins and operating expenses for 2025' - removed in newer filing which updates to 2026
- Older filing contains '2025' capital expenditure estimates - updated to '2026' in newer filing
- Older filing (2025-11-07) states 'we held 1,027 U.S. patents and 1,360 global patents, including 307 AI-related patents' - updated to different numbers in newer filing
- Older filing includes recognition statement: 'We have been recognized in over 140 enterprise analyst reports demonstrating both our vision and execution across security and networking products' - not present in newer filing
- Older filing includes specific Gartner Magic Quadrant recognitions for FortiOS across five categories - removed in newer filing
- Reworded:
- Newer filing: 'supply chain constraints (including constraints on the availability of memory chips)' vs older filing: 'supply chain constraints' - added specificity regarding memory chips in newer version
- Newer filing: 'trends in our operating expenses' vs older filing: 'trends in our operating expense' (singular vs plural)
- Newer filing: FortiOS described as 'Our unified operating system enables the convergence of networking and AI-powered security' vs older filing: 'FortiOS enables the convergence of security and networking' - newer emphasizes 'unified' and 'AI-powered'
- Newer filing: FortiOS as 'foundational engine' vs older filing: 'foundation' of Fortinet Security Fabric
- Newer filing: 'FortiASIC...increase the speed, scale, efficiency and value' vs older filing: same with addition of 'improving user experience' in older version - user experience reference removed in newer filing
- Notes:
- Newer filing document appears truncated at FortiCloud description - full text not available for complete comparison of that section
- Patent count changes reflect passage of time between filings (September 30, 2025 vs March 31, 2026) and are expected operational updates rather than policy changes
- Fiscal year references (2025 vs 2026) changed due to natural progression of time between quarterly filings
Risk Factors
- Added:
- Added 'conflicts in the Middle East' to first bullet point about adverse economic conditions (2026-05-08)
- Added 'hiring and retention' to sales strategy bullet point (2026-05-08)
- Added 'conflicts in the Middle East' to component shortages bullet point (2026-05-08)
- Added 'conflicts in the Middle East' to impact to business/global economy bullet point (2026-05-08)
- Added 'conflicts in the Middle East' to decreases in demand bullet point (2026-05-08)
- Reworded:
- Changed 'or other factors' to 'conflicts in the Middle East or other factors' in first bullet (2026-05-08)
- Changed 'sales strategy, productivity, retention and execution' to 'sales strategy, productivity, hiring and retention, and execution' in third bullet (2026-05-08)
- Changed 'tensions between China and Taiwan, or other factors' to 'tensions between China and Taiwan, conflicts in the Middle East or other factors' in first bullet (2026-05-08)
- Changed 'tensions between China and Taiwan and other factors' to 'tensions between China and Taiwan, conflicts in the Middle East and other factors' in impact bullet (2026-05-08)
- Notes:
- Both filings appear truncated at the end; newer filing cuts off mid-sentence and older filing cuts off mid-word, limiting full comparison
- Page numbers differ between filings (41-42 in newer vs 46-47 in older), but this reflects document length variation, not content changes
- Comparison limited to the provided text sections; full Risk Factors section may contain additional changes not shown in excerpts
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 24 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 11 sells ($27M) — 3 selling insiders
- Last 90 days0 buys · 24 sells ($51M) — 3 selling insiders
- Last 180 days0 buys · 40 sells ($71M) — 4 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-04. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about FTNT's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Congressional trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 15 matched disclosures for FTNT from U.S. House Clerk Periodic Transaction Report filings.
Congressional trading disclosures →Institutional ownership (13F)
5 institutional 13F filers reported holding FTNT as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 97,384,822
- Reported value $7,958,287,661
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 1 increased, 4 decreased, 1 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
FTNT had 14,384,628 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
FTNT had 1.96% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 2.45 days to cover at the same settlement.
- Reported short interest (shares) 14,384,628
- Short interest (% of shares outstanding) 1.96%
- Prior settlement (shares) 14,492,724
- Reported change -0.75%
- Days to cover (reported) 2.45
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Palo Alto Networks (PANW)
- Cisco Systems (CSCO)
- Check Point Software Technologies (CHKP)
- CrowdStrike (CRWD)
- Zscaler (ZS)
- Juniper Networks (JNPR)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does Fortinet (FTNT) do?
Fortinet is a global cybersecurity company that drives the convergence of networking and security through its integrated platform, the Fortinet Security Fabric. The company provides a wide range of solutions across secure networking, unified Secure Access Service Edge (SASE), and AI-driven security operations. Its offerings span hardware appliances, virtual machines, cloud-native services, and SaaS to protect enterprises, service providers, and government organizations.
What sector is Fortinet (FTNT) in?
Fortinet (FTNT) is classified in the Information Technology sector. Its industry is Cybersecurity and Network Security. It trades on NASDAQ.
Who are Fortinet's (FTNT) competitors?
Notable peers of Fortinet (FTNT) include Palo Alto Networks, Cisco Systems, Check Point Software Technologies, CrowdStrike and Zscaler. This peer set is informational only — not financial advice.
Has there been recent Congressional stock trading in FTNT?
Yes — we hold 15 matched STOCK Act disclosures for FTNT from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is Fortinet (FTNT) overbought or oversold right now?
Fortinet (FTNT) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 46, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on FTNT come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.