(NASDAQ: FTNT) went public in 2009 at a split-adjusted price of $1.25 per share. If you had invested $20,000 in the cybersecurity company's IPO, your investment would be worth about $1.12 million today.

Fortinet repeatedly impressed the bulls with its robust growth rates. From 2009 to 2023, its revenue grew at a compound annual growth rate (CAGR) of 24% as its billings rose at a CAGR of 25%. Its adjusted operating margin doubled from 14% to 28%, while its adjusted net income increased at a CAGR of 31%.

Those growth rates are impressive, but can Fortinet turn $20,000 into $1,000,000 again over the next two decades?

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Source Fool.com