Fortinet, Inc. (FTNT)
NASDAQ: FTNT · Real-Time Price · USD
81.15
-0.57 (-0.70%)
At close: Apr 1, 2026, 4:00 PM EDT
81.24
+0.09 (0.11%)
After-hours: Apr 1, 2026, 6:29 PM EDT
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% | 20.36% |
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 |
Other Operating Expenses | 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 |
Total Operating Expenses | 3,407 | 3,288 | 3,215 | 3,080 | 3,004 | 2,946 | 2,886 | 2,882 | 2,836 | 2,750 | 2,637 | 2,503 | 2,372 | 2,265 | 2,153 | 2,036 | 1,918 | 1,809 | 1,705 | 1,601 |
Operating Income | 2,085 | 2,033 | 1,957 | 1,936 | 1,803 | 1,615 | 1,447 | 1,289 | 1,241 | 1,214 | 1,176 | 1,092 | 969.6 | 826.7 | 727.6 | 679.8 | 650.4 | 604.9 | 565.4 | 536.7 |
Interest 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 |
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 | -16.2 | -11.7 |
Other Non-Operating Income (Expense) | -44.4 | -48.5 | -148.5 | -115.5 | -90.5 | -84.7 | 40.3 | 37.6 | 48.2 | 83.2 | 78.2 | 84.1 | 81.6 | 51.1 | 53 | 34.8 | 19.2 | 10 | 1.9 | 1.8 |
Total Non-Operating Income (Expense) | 97.8 | 103.2 | 6.1 | 32 | 44.7 | 38.2 | 157.4 | 147.8 | 146.9 | 161.4 | 124.9 | 102.3 | 81 | 42.4 | 40.8 | 21.4 | 8.8 | 5.1 | -7.5 | -0.3 |
Pretax Income | 2,183 | 2,136 | 1,963 | 1,968 | 1,848 | 1,653 | 1,604 | 1,437 | 1,388 | 1,375 | 1,301 | 1,194 | 1,051 | 869.1 | 768.4 | 701.2 | 659.2 | 610 | 557.9 | 536.4 |
Provision for Income Taxes | 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 |
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 |
Minority Interest in Earnings | - | - | - | - | - | - | - | - | - | 0 | -0.5 | -0.6 | -0.7 | -0.9 | -0.3 | -0.2 | -0.1 | 0.1 | - | - |
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% | 30.72% |
Shares Outstanding (Basic) | 758 | 764 | 766 | 766 | 764 | 764 | 768 | 773 | 778 | 783 | 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 | 832 | 835 | 833 | 831 | 829 |
Shares Change (YoY) | -0.93% | 0.04% | -0.24% | -1.15% | -2.07% | -2.77% | -2.38% | -2.00% | -2.13% | -2.82% | -3.78% | -4.08% | -3.58% | -2.07% | -0.55% | 0.46% | -0.37% | -2.01% | -3.63% | -5.21% |
EPS (Basic) | 2.44 | 2.45 | 2.53 | 2.46 | 2.29 | 2.01 | 1.71 | 1.55 | 1.48 | 1.47 | 1.35 | 1.23 | 1.08 | 0.92 | 0.83 | 0.78 | 0.74 | 0.68 | 0.63 | 0.60 |
EPS (Diluted) | 2.43 | 2.43 | 2.51 | 2.43 | 2.26 | 1.98 | 1.69 | 1.53 | 1.45 | 1.45 | 1.33 | 1.21 | 1.07 | 0.91 | 0.81 | 0.76 | 0.72 | 0.66 | 0.62 | 0.59 |
EPS Growth | 7.52% | 22.73% | 48.52% | 58.82% | 55.86% | 36.55% | 27.07% | 26.45% | 35.51% | 59.34% | 64.20% | 59.21% | 49.02% | 38.72% | 31.49% | 27.95% | 22.53% | 21.03% | 27.27% | 38.14% |
Shares Outstanding | 743.65 | 742.9 | 765.6 | 769.2 | 767 | 765.7 | 764.2 | 763.2 | 761 | 776.3 | 785.6 | 784.4 | 781.5 | 780.1 | 788.4 | 801.3 | 810 | 816.8 | 816.5 | 816.5 |
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 Growth | 18.44% | 21.90% | 29.20% | 22.14% | 8.54% | -19.37% | -20.46% | -7.15% | 19.46% | 76.74% | 79.43% | 50.23% | 20.40% | -6.77% | -0.55% | 30.51% | 25.68% | 49.68% | 29.67% | 13.88% |
Free Cash Flow Per Share | 2.91 | 2.63 | 2.63 | 2.67 | 2.43 | 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% | 79.71% | 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% | 78.07% |
Operating Margin | 30.66% | 31.02% | 30.87% | 31.52% | 30.28% | 28.27% | 26.13% | 23.89% | 23.40% | 23.46% | 23.57% | 23.11% | 21.95% | 20.17% | 19.07% | 18.95% | 19.46% | 19.35% | 19.43% | 19.68% |
Profit Margin | 27.26% | 28.58% | 30.60% | 30.60% | 29.30% | 26.79% | 23.71% | 22.23% | 21.64% | 22.25% | 21.23% | 20.44% | 19.39% | 18.10% | 17.66% | 17.78% | 18.15% | 17.74% | 17.69% | 18.01% |
FCF Margin | 32.73% | 30.95% | 32.07% | 33.66% | 31.55% | 29.14% | 28.41% | 31.37% | 32.64% | 39.90% | 39.66% | 38.58% | 32.81% | 28.49% | 28.89% | 33.83% | 36.02% | 40.06% | 38.08% | 34.10% |
EBITDA | 2,573 | 2,502 | 2,405 | 2,366 | 2,220 | 2,021 | 1,846 | 1,679 | 1,621 | 1,579 | 1,529 | 1,432 | 1,297 | 1,142 | 1,028 | 961.1 | 910.7 | 845.2 | 789.7 | 751 |
EBITDA Margin | 37.84% | 38.18% | 37.94% | 38.52% | 37.27% | 35.39% | 33.34% | 31.12% | 30.55% | 30.53% | 30.65% | 30.30% | 29.37% | 27.86% | 26.93% | 26.80% | 27.25% | 27.03% | 27.13% | 27.54% |
EBIT | 2,085 | 2,033 | 1,957 | 1,936 | 1,803 | 1,615 | 1,447 | 1,289 | 1,241 | 1,214 | 1,176 | 1,092 | 969.6 | 826.7 | 727.6 | 679.8 | 650.4 | 604.9 | 565.4 | 536.7 |
EBIT Margin | 30.66% | 31.02% | 30.87% | 31.52% | 30.28% | 28.27% | 26.13% | 23.89% | 23.40% | 23.46% | 23.57% | 23.11% | 21.95% | 20.17% | 19.07% | 18.95% | 19.46% | 19.35% | 19.43% | 19.68% |
Effective Tax Rate | 20.12% | 17.83% | 17.40% | 17.32% | 15.36% | 17.69% | 13.15% | 11.28% | 10.36% | 4.20% | 6.57% | 5.04% | 2.93% | 2.91% | -1.47% | -0.88% | 2.14% | 5.80% | 8.91% | 9.71% |
Updated Feb 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.