Fortinet, Inc. (FTNT)
NASDAQ: FTNT · Real-Time Price · USD
75.19
-0.41 (-0.54%)
Feb 24, 2026, 1:15 PM EST - Market open
Fortinet Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | 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 |
| 6,800 | 6,555 | 6,338 | 6,142 | 5,956 | 5,711 | 5,537 | 5,396 | 5,305 | 5,173 | 4,988 | 4,725 | 4,417 | 4,098 | 3,816 | 3,587 | 3,342 | 3,127 | 2,911 | 2,727 | |
Revenue Growth (YoY) | 14.17% | 14.78% | 14.46% | 13.83% | 12.27% | 10.40% | 11.02% | 14.20% | 20.09% | 26.22% | 30.71% | 31.73% | 32.17% | 31.07% | 31.10% | 31.52% | 28.82% | 26.86% | 23.25% | 20.23% |
Cost of Revenue | 1,329 | 1,254 | 1,186 | 1,146 | 1,158 | 1,159 | 1,213 | 1,234 | 1,237 | 1,219 | 1,184 | 1,139 | 1,085 | 1,016 | 944.1 | 880.2 | 783 | 721.7 | 649.7 | 597.9 |
Gross Profit | 5,471 | 5,301 | 5,152 | 4,996 | 4,798 | 4,552 | 4,324 | 4,162 | 4,068 | 3,954 | 3,804 | 3,586 | 3,333 | 3,082 | 2,872 | 2,707 | 2,559 | 2,405 | 2,261 | 2,129 |
Selling, General & Admin | 2,581 | 2,476 | 2,419 | 2,328 | 2,283 | 2,264 | 2,234 | 2,242 | 2,217 | 2,155 | 2,065 | 1,960 | 1,855 | 1,764 | 1,679 | 1,579 | 1,489 | 1,404 | 1,317 | 1,239 |
Research & Development | 815.5 | 801.6 | 786.5 | 742.4 | 716.8 | 678.2 | 647.8 | 635.7 | 613.8 | 590.2 | 567.6 | 538.6 | 512.4 | 496.1 | 469.6 | 451.9 | 424.2 | 400.6 | 382.8 | 358.3 |
Operating Expenses | 3,396 | 3,278 | 3,205 | 3,070 | 2,999 | 2,942 | 2,882 | 2,877 | 2,831 | 2,745 | 2,633 | 2,499 | 2,368 | 2,260 | 2,149 | 2,031 | 1,913 | 1,805 | 1,700 | 1,597 |
Operating Income | 2,074 | 2,023 | 1,947 | 1,926 | 1,799 | 1,610 | 1,442 | 1,284 | 1,237 | 1,209 | 1,171 | 1,087 | 965 | 822.1 | 723 | 675.2 | 645.8 | 600.3 | 560.8 | 532.2 |
Interest Expense | -20.1 | -20.6 | -19.4 | -19.8 | -20 | -20.5 | -20.9 | -21.1 | -21 | -20.1 | -19.2 | -18.5 | -18 | -18 | -18.1 | -18.1 | -14.9 | -10.4 | -5.8 | -1.3 |
Interest & Investment Income | 162.3 | 172.3 | 174 | 167.3 | 155.2 | 143.4 | 138 | 131.3 | 119.7 | 98.3 | 65.9 | 36.7 | 17.4 | 9.3 | 5.9 | 4.7 | 4.5 | 5.5 | 6.8 | 9.6 |
Earnings From Equity Investments | 10.3 | 4.8 | -0.3 | -12.2 | -29.4 | -33.4 | -33.3 | -26.6 | -42.1 | -77.8 | -78.9 | -81.7 | -68.1 | -27.7 | -24.2 | -16.1 | -7.6 | -2.8 | - | - |
Currency Exchange Gain (Loss) | - | -16.9 | -16.9 | -16.9 | -16.9 | -7 | -7 | -7 | -7 | -4.6 | -4.6 | -4.6 | -4.6 | -8.2 | -8.2 | -8.2 | -8.2 | -5.5 | -5.5 | -5.5 |
Other Non Operating Income (Expenses) | 55.3 | 68.8 | 70.6 | 61 | 56.9 | 6.3 | 0.9 | 0.7 | 5.3 | 6.3 | 7.5 | 8.5 | 4.2 | -1.3 | -0.4 | 0.8 | -3.4 | 1.5 | 2.8 | 3.7 |
EBT Excluding Unusual Items | 2,282 | 2,231 | 2,155 | 2,106 | 1,945 | 1,699 | 1,520 | 1,362 | 1,291 | 1,211 | 1,142 | 1,028 | 895.9 | 776.2 | 678 | 638.3 | 616.2 | 588.6 | 559.1 | 538.7 |
Gain (Loss) on Sale of Investments | - | -26.9 | -29.9 | -41.4 | -26.4 | 12.5 | -0.9 | -4.7 | -4.4 | -7.1 | -2.2 | -6.3 | -13.1 | -13.9 | -20.2 | -11.3 | - | -3.2 | 0.8 | - |
Gain (Loss) on Sale of Assets | 10.4 | 10.2 | 9.9 | 9.8 | 4.6 | 4.6 | 4.6 | 4.5 | 4.6 | 4.6 | 4.6 | 4.7 | 4.6 | 4.6 | 4.6 | 4.6 | 4.6 | 4.6 | 4.6 | 4.5 |
Other Unusual Items | - | 39.9 | 146.2 | 146.2 | 106.3 | 106.3 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Pretax Income | 2,293 | 2,255 | 2,281 | 2,220 | 2,029 | 1,822 | 1,524 | 1,361 | 1,292 | 1,209 | 1,144 | 1,026 | 887.4 | 766.9 | 662.4 | 631.6 | 620.8 | 590 | 564.5 | 543.2 |
Income Tax Expense | 439.1 | 381 | 341.5 | 340.9 | 283.9 | 292.4 | 210.9 | 162 | 143.8 | 57.8 | 85.4 | 60.2 | 30.8 | 25.3 | -11.3 | -6.2 | 14.1 | 35.4 | 49.7 | 52.1 |
Earnings From Continuing Operations | 1,853 | 1,874 | 1,940 | 1,879 | 1,745 | 1,530 | 1,313 | 1,199 | 1,148 | 1,151 | 1,059 | 966 | 856.6 | 741.6 | 673.7 | 637.8 | 606.7 | 554.6 | 514.8 | 491.1 |
Minority Interest in Earnings | - | - | - | - | - | - | - | - | - | - | 0.5 | 0.6 | 0.7 | 0.9 | 0.3 | 0.2 | 0.1 | -0.1 | - | - |
Net Income | 1,853 | 1,874 | 1,940 | 1,879 | 1,745 | 1,530 | 1,313 | 1,199 | 1,148 | 1,151 | 1,059 | 966.6 | 857.3 | 742.5 | 674 | 638 | 606.8 | 554.5 | 514.8 | 491.1 |
Net Income to Common | 1,853 | 1,874 | 1,940 | 1,879 | 1,745 | 1,530 | 1,313 | 1,199 | 1,148 | 1,151 | 1,059 | 966.6 | 857.3 | 742.5 | 674 | 638 | 606.8 | 554.5 | 514.8 | 491.1 |
Net Income Growth | 6.20% | 22.47% | 47.73% | 56.69% | 52.05% | 32.95% | 23.93% | 24.08% | 33.88% | 54.98% | 57.18% | 51.51% | 41.28% | 33.90% | 30.93% | 29.91% | 24.22% | 20.54% | 23.51% | 30.09% |
Shares Outstanding (Basic) | 758 | 764 | 766 | 766 | 764 | 764 | 768 | 773 | 779 | 782 | 784 | 786 | 791 | 800 | 808 | 813 | 816 | 815 | 814 | 812 |
Shares Outstanding (Diluted) | 765 | 771 | 774 | 773 | 772 | 771 | 776 | 782 | 788 | 793 | 795 | 798 | 805 | 816 | 826 | 833 | 835 | 834 | 831 | 829 |
Shares Change (YoY) | -0.95% | 0.04% | -0.23% | -1.15% | -2.07% | -2.76% | -2.39% | -2.00% | -2.12% | -2.82% | -3.78% | -4.09% | -3.59% | -2.09% | -0.57% | 0.45% | -0.36% | -2.01% | -3.63% | -5.20% |
EPS (Basic) | 2.45 | 2.45 | 2.53 | 2.45 | 2.28 | 2.00 | 1.71 | 1.55 | 1.47 | 1.47 | 1.35 | 1.23 | 1.08 | 0.93 | 0.83 | 0.78 | 0.74 | 0.68 | 0.63 | 0.61 |
EPS (Diluted) | 2.42 | 2.43 | 2.51 | 2.43 | 2.26 | 1.99 | 1.69 | 1.54 | 1.46 | 1.44 | 1.33 | 1.20 | 1.06 | 0.91 | 0.82 | 0.77 | 0.73 | 0.67 | 0.61 | 0.59 |
EPS Growth | 7.08% | 22.04% | 48.37% | 57.71% | 54.80% | 38.00% | 26.77% | 28.11% | 37.74% | 58.47% | 62.56% | 55.72% | 45.20% | 36.61% | 33.47% | 30.60% | 25.86% | 22.97% | 26.61% | 36.89% |
Free Cash Flow | 2,226 | 2,028 | 2,033 | 2,068 | 1,879 | 1,664 | 1,573 | 1,693 | 1,731 | 2,064 | 1,978 | 1,823 | 1,449 | 1,168 | 1,102 | 1,214 | 1,204 | 1,253 | 1,108 | 929.8 |
Free Cash Flow Per Share | 2.91 | 2.63 | 2.63 | 2.67 | 2.44 | 2.16 | 2.03 | 2.16 | 2.20 | 2.60 | 2.49 | 2.28 | 1.80 | 1.43 | 1.33 | 1.46 | 1.44 | 1.50 | 1.33 | 1.12 |
Gross Margin | 80.46% | 80.87% | 81.29% | 81.34% | 80.56% | 79.70% | 78.09% | 77.13% | 76.68% | 76.44% | 76.26% | 75.90% | 75.44% | 75.21% | 75.26% | 75.46% | 76.57% | 76.92% | 77.68% | 78.08% |
Operating Margin | 30.51% | 30.86% | 30.72% | 31.36% | 30.20% | 28.19% | 26.05% | 23.80% | 23.31% | 23.37% | 23.48% | 23.01% | 21.84% | 20.06% | 18.95% | 18.82% | 19.32% | 19.20% | 19.27% | 19.52% |
Profit Margin | 27.26% | 28.58% | 30.60% | 30.60% | 29.30% | 26.79% | 23.71% | 22.23% | 21.64% | 22.25% | 21.24% | 20.46% | 19.41% | 18.12% | 17.66% | 17.79% | 18.16% | 17.73% | 17.69% | 18.01% |
Free Cash Flow Margin | 32.73% | 30.95% | 32.07% | 33.66% | 31.55% | 29.14% | 28.41% | 31.37% | 32.64% | 39.90% | 39.66% | 38.59% | 32.81% | 28.49% | 28.89% | 33.83% | 36.02% | 40.06% | 38.08% | 34.10% |
EBITDA | 2,226 | 2,171 | 2,086 | 2,056 | 1,922 | 1,728 | 1,559 | 1,399 | 1,350 | 1,319 | 1,280 | 1,194 | 1,069 | 924.4 | 821.8 | 767.8 | 730.2 | 676.1 | 630.4 | 600.7 |
EBITDA Margin | 32.74% | 33.12% | 32.91% | 33.48% | 32.26% | 30.26% | 28.15% | 25.92% | 25.45% | 25.51% | 25.66% | 25.26% | 24.21% | 22.56% | 21.54% | 21.41% | 21.85% | 21.62% | 21.66% | 22.03% |
D&A For EBITDA | 152 | 147.7 | 139.1 | 130 | 122.8 | 117.8 | 116.3 | 114.5 | 113.4 | 110.5 | 108.6 | 106.3 | 104.3 | 102.3 | 98.8 | 92.6 | 84.4 | 75.8 | 69.6 | 68.5 |
EBIT | 2,074 | 2,023 | 1,947 | 1,926 | 1,799 | 1,610 | 1,442 | 1,284 | 1,237 | 1,209 | 1,171 | 1,087 | 965 | 822.1 | 723 | 675.2 | 645.8 | 600.3 | 560.8 | 532.2 |
EBIT Margin | 30.51% | 30.86% | 30.72% | 31.36% | 30.20% | 28.19% | 26.05% | 23.80% | 23.31% | 23.37% | 23.48% | 23.01% | 21.84% | 20.06% | 18.95% | 18.82% | 19.32% | 19.20% | 19.27% | 19.52% |
Effective Tax Rate | 19.15% | 16.90% | 14.97% | 15.35% | 13.99% | 16.05% | 13.84% | 11.90% | 11.13% | 4.78% | 7.46% | 5.87% | 3.47% | 3.30% | - | - | 2.27% | 6.00% | 8.80% | 9.59% |
Revenue as Reported | 6,800 | 6,555 | 6,338 | 6,142 | 5,956 | 5,711 | 5,537 | 5,396 | 5,305 | 5,173 | 4,988 | 4,725 | 4,417 | 4,098 | 3,816 | 3,587 | 3,342 | 3,127 | 2,911 | 2,727 |
Updated Feb 5, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.