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Fortinet, Inc. (FTNT)
NASDAQ: FTNT · Real-Time Price · USD
128.10
+4.53 (3.67%)
At close: Nov 11, 2026, 4:00 PM EST
127.59
-0.51 (-0.40%)
After-hours: Nov 11, 2026, 7:59 PM EST

Fortinet Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
7,8816,8005,9565,3054,4173,342
Revenue Growth
20.23%14.17%12.27%20.09%32.17%28.82%
Gross Profit
6,2855,4714,7984,0683,3332,559
Operating Income
2,5942,0741,7991,237965645.8
Net Income
2,2821,8531,7451,148857.3606.8
Earnings Per Share
3.062.422.261.461.060.73
EPS Growth
25.98%7.08%54.80%37.74%45.20%25.86%

Revenue by Segment
Chart
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Product
2,8742,2181,9091,9271,7811,255
Security Subscription
2,8712,6332,3171,8981,4271,125
Technical Support & Other
2,1361,9481,7301,4791,210962.2
Revenue (Total)
7,8816,8005,9565,3054,4173,342

Cash & Debt
Chart
Fiscal Year
CurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
4,7993,5834,0672,4402,2112,552
Total Debt
560.51,0621,0731,0711,0861,055
Net Cash (Debt)
4,2392,5212,9931,3691,1251,497
Net Cash Growth
108.32%-15.78%118.63%21.70%-24.83%-16.13%
Net Cash Per Share
5.703.303.881.741.401.79

Cash Flow & CapEx
Chart
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
3,6872,5912,2581,9361,7311,500
Capital Expenditures
-255.6-364.8-378.9-204.1-281.2-295.9
Free Cash Flow
3,4312,2261,8791,7311,4491,204
Free Cash Flow Growth
69.16%18.44%8.54%19.46%20.40%25.68%

Margins
Chart
Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
79.75%80.46%80.56%76.68%75.44%76.57%
Operating Margin
32.91%30.51%30.20%23.31%21.84%19.32%
Pretax Margin
35.32%33.72%34.07%24.35%20.09%18.57%
Profit Margin
28.96%27.26%29.30%21.64%19.41%18.16%
FCF Margin
43.54%32.73%31.55%32.64%32.81%36.02%

Valuation
Chart
Fiscal Year
CurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingNov '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
41.8531.8641.4939.1644.5596.84
Forward PE
34.0827.9740.1135.8936.1782.80
P/FCF Ratio
27.4426.5338.5325.9626.3548.81
PS Ratio
11.958.6912.168.478.6517.58