Fortinet Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,110	6,800	5,956	5,305	4,417	3,342
Revenue Growth (YoY)	15.75%	14.17%	12.27%	20.09%	32.17%	28.82%
Cost of Revenue	1,400	1,329	1,158	1,237	1,085	783
Gross Profit	5,709	5,471	4,798	4,068	3,333	2,559
Selling, General & Admin	2,673	2,581	2,283	2,217	1,855	1,489
Research & Development	830.9	815.5	716.8	613.8	512.4	424.2
Other Operating Expenses	-5.5	-10.4	-4.6	-4.6	-4.6	-4.6
Total Operating Expenses	3,498	3,386	2,995	2,827	2,363	1,909
Operating Income	2,211	2,085	1,803	1,241	969.6	650.4
Interest Income	150.9	162.3	155.2	119.7	17.4	4.5
Interest Expense	-19.4	-20.1	-20	-21	-18	-14.9
Other Non-Operating Income (Expense)	77.1	55.3	119.9	-6.1	-13.5	-11.6
Total Non-Operating Income (Expense)	208.6	197.5	255.1	92.6	-14.1	-22
Pretax Income	2,420	2,282	2,059	1,334	955.5	628.4
Provision for Income Taxes	464.6	439.1	283.9	143.8	30.8	14.1
Net Income	1,954	1,864	1,716	1,106	788.5	599.1
Minority Interest in Earnings	-0.4	10.3	-29.4	-42.1	-68.8	-7.7
Net Income to Common	1,955	1,853	1,745	1,148	856.6	606.7
Net Income Growth	4.00%	6.20%	52.05%	33.99%	41.19%	24.20%
Shares Outstanding (Basic)	751	758	764	779	791	816
Shares Outstanding (Diluted)	756	765	772	788	805	835
Shares Change (YoY)	-2.23%	-0.95%	-2.07%	-2.12%	-3.59%	-0.36%
EPS (Basic)	2.60	2.45	2.28	1.47	1.08	0.74
EPS (Diluted)	2.59	2.42	2.26	1.46	1.06	0.73
EPS Growth	6.58%	7.08%	54.80%	37.74%	45.20%	25.86%
Free Cash Flow	2,436	2,226	1,879	1,731	1,449	1,204
Free Cash Flow Growth	9.42%	18.44%	8.54%	19.46%	20.40%	25.68%
Free Cash Flow Per Share	3.22	2.91	2.43	2.20	1.80	1.44
Gross Margin	80.30%	80.46%	80.56%	76.68%	75.44%	76.57%
Operating Margin	31.10%	30.66%	30.28%	23.40%	21.95%	19.46%
Profit Margin	27.49%	27.41%	28.81%	20.84%	17.85%	17.93%
FCF Margin	34.26%	32.73%	31.55%	32.64%	32.81%	36.02%
EBITDA	2,719	2,573	2,220	1,621	1,297	910.7
EBITDA Margin	38.25%	37.84%	37.27%	30.55%	29.37%	27.25%
EBIT	2,211	2,085	1,803	1,241	969.6	650.4
EBIT Margin	31.10%	30.66%	30.28%	23.40%	21.95%	19.46%
Effective Tax Rate	19.20%	19.24%	13.79%	10.78%	3.22%	2.24%

SEC Filings: 10-K · 10-Q