Is EVLV or FTNT more undervalued in 2026?

CirclFi compares Evolv Technologies Holdings, In (EVLV) and Fortinet, Inc. (FTNT) using 13 institutional-grade valuation models. EVLV has a Quality of Company score of 7.1/10 while FTNT scores 10.0/10.

Which is a better buy — EVLV or FTNT?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do EVLV and FTNT valuations compare?

EVLV at $6.45 and FTNT at $137.97 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

EVLV vs FTNT Valuation Comparison 2026 — Intrinsic Value Analysis

EVLV

Computer Peripheral Equipment, NEC

Evolv Technologies Holdings, In

Quality

7.1

out of 10

Value Trap

LOW

Price

$6.45

Last close

Models

12/13

Active

FTNT

Computer Peripheral Equipment, NEC

Fortinet, Inc.

Quality

10.0

out of 10

Value Trap

SAFE

Price

$137.97

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	EVLV Fair Value	EVLV Upside	FTNT Fair Value	FTNT Upside
Bayesian DCF	Intrinsic	$1.70	-73.7%	$59.67	-56.8%
Earnings Power Value	Intrinsic	$0.73	-89.9%	$26.74	-80.6%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for EVLV vs FTNT — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

EVLV vs FTNT — Which Stock Is More Undervalued?

FTNT scores higher with a 10.0/10 quality rating vs EVLV's 7.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Evolv Technologies Holdings, In (EVLV) and Fortinet, Inc. (FTNT) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

EVLV currently trades at $6.45 with a QOC of 7.1/10, while FTNT trades at $137.97 with a QOC of 10.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).