FatPipe, Inc (FATN) Fair Value & Analysis
Technology · US · Market cap $74.2M
FatPipe, Inc
FATN · US
Fair value as of: Jul 16, 2026
From 15 valuation models · updated 25 days ago
Share price +20.2% over the past month.
A solid business, but screening 28% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($5.72). The favourable scenario is already priced in.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (16 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
16‑month range $1.45 – $13.00 · fair‑value band $3.42 – $5.72 · the $6.37 price screens above the $4.57 fair value. Dashed = 300-day average. As of Jul 16, 2026.
Analysis
FatPipe, Inc (FATN) currently trades at $6.37, while our model-based Fair Value estimate is $4.57, implying the stock looks roughly 28.3% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, FatPipe, Inc generated revenue of $19.2M at a net margin of 25.9%. Revenue grew 90.4% year over year. It earns a return on equity of 24.2%. The stock trades on a trailing P/E of 15.1. Fundamentals as of Jul 16, 2026
Our scenario range runs from $3.42 (bear case) to $5.72 (bull case); at $6.37, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 42% below its 52-week high and 386% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -28%, FATN screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 15 models by family
Widest divergence: Growth Earnings ($6.17) versus Asset-Based ($1.20). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 45
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
FatPipe, Inc. develops application-aware, secure software-defined wide area network, secure access service edge, and network monitoring service (NMS) software solutions in the United States, India, and internationally.
Full company description
FatPipe, Inc. develops application-aware, secure software-defined wide area network, secure access service edge, and network monitoring service (NMS) software solutions in the United States, India, and internationally. The company offers SD-WAN, a network architecture solution that allows enterprises to utilize software and virtualization technologies to enhance the performance, security, and manageability of their WANs that connect offices, data centers, cloud applications, and cloud storage; SASE that provides virtual network functions, which combine networking and network security services into a single cloud-delivered solution; and NMS, a EnterpriseView reporting system for network monitoring that provides a platform to monitor an end-user's WAN and the performance of FatPipe devices under management. It also provides technical support services, professional, technology development, cyber security, and training services. In addition, the company offers its solutions to enterprises, communication service providers, security service providers, government organizations, and other middle-market companies. The company sells its software solutions through a subscription-based model through a network of distributors, value-added resellers, internet service providers, and other third parties. FatPipe, Inc. was incorporated in 2009 and is headquartered in Salt Lake City, Utah.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
FatPipe, Inc reported revenue of $19.2M in FY2026 versus $12.4M in FY2022, a compound +11.6%/yr. Reported net income was $5.0M in FY2026, compounding +79.0%/yr from FY2022.
FATN screens 28% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 370 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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