Fortinet Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	6,800	5,956	5,305	4,417	3,342
Revenue Growth (YoY)	14.17%	12.27%	20.09%	32.17%	28.82%
Cost of Revenue	1,329	1,158	1,237	1,085	783
Gross Profit	5,471	4,798	4,068	3,333	2,559
Selling, General & Admin	2,581	2,283	2,217	1,855	1,489
Research & Development	815.5	716.8	613.8	512.4	424.2
Other Operating Expenses	10.4	4.6	4.6	4.6	4.6
Total Operating Expenses	3,407	3,004	2,836	2,372	1,918
Operating Income	2,085	1,803	1,241	969.6	650.4
Interest Income	162.3	155.2	119.7	17.4	4.5
Interest Expense	-20.1	-20	-21	-18	-14.9
Other Non-Operating Income (Expense)	45	149.3	36	81.6	19.2
Total Non-Operating Income (Expense)	187.2	284.5	134.7	81	8.8
Pretax Income	2,272	2,088	1,376	1,051	659.2
Provision for Income Taxes	439.1	283.9	143.8	30.8	14.1
Net Income	1,853	1,745	1,148	857.3	606.8
Minority Interest in Earnings	-	-	-	-0.7	-0.1
Net Income to Common	1,853	1,745	1,148	857.3	606.8
Net Income Growth	6.20%	52.05%	33.88%	41.28%	24.22%
Shares Outstanding (Basic)	758	764	779	791	816
Shares Outstanding (Diluted)	765	772	788	805	835
Shares Change (YoY)	-0.95%	-2.07%	-2.12%	-3.59%	-0.36%
EPS (Basic)	2.45	2.28	1.47	1.08	0.74
EPS (Diluted)	2.42	2.26	1.46	1.06	0.73
EPS Growth	7.08%	54.80%	37.74%	45.20%	25.86%
Shares Outstanding	743.65	767	761	781.5	810
Free Cash Flow	2,226	1,879	1,731	1,449	1,204
Free Cash Flow Growth	18.44%	8.54%	19.46%	20.40%	25.68%
Free Cash Flow Per Share	2.91	2.43	2.20	1.80	1.44
Gross Margin	80.46%	80.56%	76.68%	75.44%	76.57%
Operating Margin	30.66%	30.28%	23.40%	21.95%	19.46%
Profit Margin	27.26%	29.30%	21.64%	19.39%	18.15%
FCF Margin	32.73%	31.55%	32.64%	32.81%	36.02%
EBITDA	2,573	2,220	1,621	1,297	910.7
EBITDA Margin	37.84%	37.27%	30.55%	29.37%	27.25%
EBIT	2,085	1,803	1,241	969.6	650.4
EBIT Margin	30.66%	30.28%	23.40%	21.95%	19.46%
Effective Tax Rate	19.33%	13.60%	10.45%	2.93%	2.14%

Updated Feb 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q