Fortinet, Inc. (FTNT)
NASDAQ: FTNT · Real-Time Price · USD
79.77
+0.91 (1.15%)
At close: Nov 24, 2025, 4:00 PM EST
79.50
-0.27 (-0.34%)
Pre-market: Nov 25, 2025, 5:11 AM EST
Fortinet Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 | +20 Quarters |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 | Dec '20 Dec 31, 2020 | +20 Quarters |
| 1,725 | 1,630 | 1,540 | 1,660 | 1,508 | 1,434 | 1,353 | 1,415 | 1,335 | 1,293 | 1,262 | 1,283 | 1,150 | 1,030 | 954.8 | 963.6 | 867.2 | 801.1 | 710.3 | 748 | Upgrade | |
Revenue Growth (YoY) | 14.38% | 13.64% | 13.77% | 17.31% | 13.00% | 10.95% | 7.21% | 10.30% | 16.10% | 25.50% | 32.21% | 33.15% | 32.55% | 28.59% | 34.42% | 28.82% | 33.19% | 29.71% | 22.95% | 21.02% | Upgrade |
Cost of Revenue | 331.7 | 314.9 | 293.1 | 314.5 | 263.4 | 275 | 304.7 | 315.9 | 317.7 | 295.8 | 307.8 | 297.3 | 283 | 250.8 | 253.8 | 228.3 | 211.2 | 186.9 | 156.6 | 167 | Upgrade |
Gross Profit | 1,393 | 1,315 | 1,247 | 1,346 | 1,245 | 1,159 | 1,049 | 1,099 | 1,017 | 997 | 954.5 | 985.7 | 866.5 | 779.3 | 701 | 735.3 | 656 | 614.2 | 553.7 | 581 | Upgrade |
Selling, General & Admin | 644.9 | 648.9 | 600.5 | 581.6 | 587.6 | 557.9 | 555.5 | 562.5 | 557.9 | 565.8 | 531.1 | 500.2 | 467.8 | 460.9 | 426.2 | 409 | 382.9 | 361.3 | 336 | 323.8 | Upgrade |
Research & Development | 202.4 | 209.5 | 198.6 | 191.1 | 187.3 | 165.4 | 173 | 152.5 | 156.9 | 153.3 | 151.1 | 128.9 | 134.3 | 124.3 | 124.9 | 112.6 | 107.8 | 106.6 | 97.2 | 89 | Upgrade |
Operating Expenses | 847.3 | 858.4 | 799.1 | 772.7 | 774.9 | 723.3 | 728.5 | 715 | 714.8 | 719.1 | 682.2 | 629.1 | 602.1 | 585.2 | 551.1 | 521.6 | 490.7 | 467.9 | 433.2 | 412.8 | Upgrade |
Operating Income | 545.9 | 456.7 | 447.5 | 572.9 | 469.8 | 436 | 320.1 | 384.2 | 302.1 | 277.9 | 272.3 | 356.6 | 264.4 | 194.1 | 149.9 | 213.7 | 165.3 | 146.3 | 120.5 | 168.2 | Upgrade |
Interest Expense | -6.2 | -4.6 | -4.9 | -4.9 | -5 | -5 | -5.1 | -5.4 | -5.4 | -5.2 | -5 | -4.5 | -4.5 | -4.5 | -4.5 | -4.5 | -4.6 | -4.5 | -1.3 | - | Upgrade |
Interest & Investment Income | 40.7 | 45 | 44.3 | 42.3 | 42.4 | 38.3 | 32.2 | 30.5 | 37 | 31.6 | 20.6 | 9.1 | 4.6 | 2.4 | 1.3 | 1 | 1.2 | 1.2 | 1.1 | 2 | Upgrade |
Earnings From Equity Investments | -0.2 | -0.1 | 10.6 | -5.5 | -5.3 | -12 | -6.6 | -9.5 | -5.2 | -5.3 | -22.1 | -45.2 | -6.3 | -8.1 | -8.5 | -4.8 | -2.8 | - | - | - | Upgrade |
Currency Exchange Gain (Loss) | - | - | - | -16.9 | - | - | - | -7 | - | - | - | -4.6 | - | - | - | -8.2 | - | - | - | -5.5 | Upgrade |
Other Non Operating Income (Expenses) | -1.1 | 7.6 | 0.9 | 61.4 | 107 | -2 | -3.2 | 10.8 | -4.7 | -2.2 | 1.4 | 11.8 | -3.5 | -1.2 | -2.9 | 6.3 | -2.6 | 0.3 | -2 | 6.1 | Upgrade |
EBT Excluding Unusual Items | 579.1 | 504.6 | 498.4 | 649.3 | 608.9 | 455.3 | 337.4 | 403.6 | 323.8 | 296.8 | 267.2 | 323.2 | 254.7 | 182.7 | 135.3 | 203.5 | 156.5 | 143.3 | 118.3 | 170.8 | Upgrade |
Gain (Loss) on Sale of Investments | 14.1 | 11.3 | -14.7 | -37.6 | 11.1 | -0.2 | 0.3 | 1.3 | -2.3 | -4 | 0.6 | -1.4 | 2.6 | -8.1 | -6.2 | -2.2 | -3.7 | 0.5 | - | -0.3 | Upgrade |
Gain (Loss) on Sale of Assets | 1.4 | 1.3 | 6.3 | 1.2 | 1.1 | 1.2 | 1.1 | 1.2 | 1.1 | 1.1 | 1.2 | 1.2 | 1.1 | 1.2 | 1.1 | 1.2 | 1.1 | 1.2 | 1.1 | 1.2 | Upgrade |
Other Unusual Items | - | - | 39.9 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | Upgrade |
Pretax Income | 594.6 | 517.2 | 529.9 | 612.9 | 621.1 | 456.3 | 338.8 | 406.1 | 322.6 | 293.9 | 269 | 323 | 258.4 | 175.8 | 130.2 | 202.5 | 153.9 | 145 | 119.4 | 171.7 | Upgrade |
Income Tax Expense | 120.7 | 77.1 | 96.5 | 86.7 | 81.2 | 76.5 | 39.5 | 95.2 | -0.3 | 27.6 | 21.3 | 9.2 | 27.3 | 2.4 | -8.1 | 3.7 | -9.3 | 7.5 | 12.2 | 25 | Upgrade |
Earnings From Continuing Operations | 473.9 | 440.1 | 433.4 | 526.2 | 539.9 | 379.8 | 299.3 | 310.9 | 322.9 | 266.3 | 247.7 | 313.8 | 231.1 | 173.4 | 138.3 | 198.8 | 163.2 | 137.5 | 107.2 | 146.7 | Upgrade |
Minority Interest in Earnings | - | - | - | - | - | - | - | - | - | - | - | - | 0.5 | 0.1 | 0.1 | 0.2 | -0.1 | - | - | - | Upgrade |
Net Income | 473.9 | 440.1 | 433.4 | 526.2 | 539.9 | 379.8 | 299.3 | 310.9 | 322.9 | 266.3 | 247.7 | 313.8 | 231.6 | 173.5 | 138.4 | 199 | 163.1 | 137.5 | 107.2 | 146.7 | Upgrade |
Net Income to Common | 473.9 | 440.1 | 433.4 | 526.2 | 539.9 | 379.8 | 299.3 | 310.9 | 322.9 | 266.3 | 247.7 | 313.8 | 231.6 | 173.5 | 138.4 | 199 | 163.1 | 137.5 | 107.2 | 146.7 | Upgrade |
Net Income Growth | -12.22% | 15.88% | 44.80% | 69.25% | 67.20% | 42.62% | 20.83% | -0.92% | 39.42% | 53.49% | 78.97% | 57.69% | 42.00% | 26.18% | 29.10% | 35.65% | 32.17% | 20.83% | 2.49% | 24.11% | Upgrade |
Shares Outstanding (Basic) | 756 | 766 | 768 | 767 | 765 | 764 | 762 | 765 | 781 | 785 | 783 | 781 | 786 | 795 | 803 | 815 | 818 | 817 | 815 | 813 | Upgrade |
Shares Outstanding (Diluted) | 761 | 773 | 777 | 775 | 772 | 770 | 771 | 772 | 791 | 796 | 793 | 792 | 799 | 810 | 821 | 835 | 839 | 835 | 832 | 828 | Upgrade |
Shares Change (YoY) | -1.39% | 0.36% | 0.82% | 0.38% | -2.44% | -3.27% | -2.89% | -2.46% | -0.93% | -1.75% | -3.34% | -5.17% | -4.77% | -3.03% | -1.35% | 0.91% | 1.28% | 1.02% | -4.48% | -5.54% | Upgrade |
EPS (Basic) | 0.63 | 0.57 | 0.56 | 0.69 | 0.71 | 0.50 | 0.39 | 0.41 | 0.41 | 0.34 | 0.32 | 0.40 | 0.29 | 0.22 | 0.17 | 0.24 | 0.20 | 0.17 | 0.13 | 0.18 | Upgrade |
EPS (Diluted) | 0.62 | 0.57 | 0.56 | 0.68 | 0.70 | 0.49 | 0.39 | 0.41 | 0.41 | 0.33 | 0.31 | 0.39 | 0.29 | 0.21 | 0.17 | 0.24 | 0.19 | 0.16 | 0.13 | 0.18 | Upgrade |
EPS Growth | -11.43% | 16.33% | 43.59% | 67.14% | 70.73% | 48.48% | 25.81% | 3.47% | 41.38% | 57.14% | 82.35% | 63.67% | 52.63% | 31.25% | 32.81% | 35.90% | 26.67% | 15.94% | 6.67% | 29.88% | Upgrade |
Free Cash Flow | 567.5 | 284.1 | 796.8 | 380 | 571.8 | 318.9 | 608.5 | 164.8 | 481.1 | 438.3 | 647.2 | 497.2 | 395.2 | 283.5 | 273.5 | 215.5 | 329.8 | 394.7 | 263.8 | 264.2 | Upgrade |
Free Cash Flow Per Share | 0.75 | 0.37 | 1.03 | 0.49 | 0.74 | 0.41 | 0.79 | 0.21 | 0.61 | 0.55 | 0.82 | 0.63 | 0.49 | 0.35 | 0.33 | 0.26 | 0.39 | 0.47 | 0.32 | 0.32 | Upgrade |
Gross Margin | 80.77% | 80.68% | 80.96% | 81.05% | 82.53% | 80.83% | 77.48% | 77.68% | 76.20% | 77.12% | 75.62% | 76.83% | 75.38% | 75.65% | 73.42% | 76.31% | 75.65% | 76.67% | 77.95% | 77.67% | Upgrade |
Operating Margin | 31.65% | 28.02% | 29.06% | 34.51% | 31.15% | 30.40% | 23.65% | 27.15% | 22.64% | 21.50% | 21.57% | 27.79% | 23.00% | 18.84% | 15.70% | 22.18% | 19.06% | 18.26% | 16.96% | 22.49% | Upgrade |
Profit Margin | 27.47% | 27.00% | 28.15% | 31.70% | 35.80% | 26.48% | 22.12% | 21.97% | 24.20% | 20.60% | 19.62% | 24.46% | 20.15% | 16.84% | 14.49% | 20.65% | 18.81% | 17.16% | 15.09% | 19.61% | Upgrade |
Free Cash Flow Margin | 32.90% | 17.43% | 51.75% | 22.89% | 37.91% | 22.23% | 44.96% | 11.65% | 36.05% | 33.90% | 51.27% | 38.75% | 34.38% | 27.52% | 28.64% | 22.36% | 38.03% | 49.27% | 37.14% | 35.32% | Upgrade |
EBITDA | 584.3 | 495 | 483.3 | 608.1 | 499.6 | 465.2 | 348.7 | 414.4 | 330.4 | 305.3 | 299.8 | 383.9 | 290.8 | 219.2 | 175.4 | 239 | 188.2 | 165.2 | 137.8 | 184.9 | Upgrade |
EBITDA Margin | 33.87% | 30.37% | 31.39% | 36.63% | 33.13% | 32.43% | 25.77% | 29.28% | 24.76% | 23.61% | 23.75% | 29.92% | 25.30% | 21.28% | 18.37% | 24.80% | 21.70% | 20.62% | 19.40% | 24.72% | Upgrade |
D&A For EBITDA | 38.4 | 38.3 | 35.8 | 35.2 | 29.8 | 29.2 | 28.6 | 30.2 | 28.3 | 27.4 | 27.5 | 27.3 | 26.4 | 25.1 | 25.5 | 25.3 | 22.9 | 18.9 | 17.3 | 16.7 | Upgrade |
EBIT | 545.9 | 456.7 | 447.5 | 572.9 | 469.8 | 436 | 320.1 | 384.2 | 302.1 | 277.9 | 272.3 | 356.6 | 264.4 | 194.1 | 149.9 | 213.7 | 165.3 | 146.3 | 120.5 | 168.2 | Upgrade |
EBIT Margin | 31.65% | 28.02% | 29.06% | 34.51% | 31.15% | 30.40% | 23.65% | 27.15% | 22.64% | 21.50% | 21.57% | 27.79% | 23.00% | 18.84% | 15.70% | 22.18% | 19.06% | 18.26% | 16.96% | 22.49% | Upgrade |
Effective Tax Rate | 20.30% | 14.91% | 18.21% | 14.15% | 13.07% | 16.77% | 11.66% | 23.44% | - | 9.39% | 7.92% | 2.85% | 10.56% | 1.36% | - | 1.83% | - | 5.17% | 10.22% | 14.56% | Upgrade |
Revenue as Reported | 1,725 | 1,630 | 1,540 | 1,660 | 1,508 | 1,434 | 1,353 | 1,415 | 1,335 | 1,293 | 1,262 | 1,283 | 1,150 | 1,030 | 954.8 | 963.6 | 867.2 | 801.1 | 710.3 | 748 | Upgrade |
Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.