Fortinet, Inc. (FTNT)
NASDAQ: FTNT · Real-Time Price · USD
80.82
+1.52 (1.92%)
Feb 4, 2026, 2:39 PM EST - Market open
Fortinet Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 |
Net Income | 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 | 488.5 |
Depreciation & Amortization | 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 | 68.8 |
Other Amortization | 321.4 | 309 | 299.7 | 293.7 | 288.7 | 283.1 | 275.8 | 266.3 | 255.4 | 244.1 | 233.3 | 223.3 | 212.8 | 201.2 | 188.7 | 175.9 | 164.5 | 154.7 | 145.8 | 137.4 |
Loss (Gain) From Sale of Investments | -38.8 | -43.3 | -46.9 | -48.8 | -48.9 | -46.7 | -39.6 | -27.7 | -15.3 | -4.3 | 2.4 | 4.4 | 5.7 | 6.8 | 7.4 | 6.9 | 5.9 | 4.6 | 3.1 | 1.3 |
Loss (Gain) on Equity Investments | 29.4 | 29.4 | 29.4 | 29.4 | 9.5 | 14.7 | 20 | 42.1 | 77.8 | 78.9 | 81.7 | 68.1 | 27.7 | 24.2 | 16.1 | 7.6 | 2.8 | - | - | - |
Stock-Based Compensation | 272.8 | 266.9 | 261.7 | 257.9 | 255.5 | 253.9 | 255 | 249 | 240.3 | 230.7 | 220.4 | 217.3 | 215.7 | 213.7 | 211.6 | 207.9 | 203.5 | 200.1 | 196.4 | 191.7 |
Other Operating Activities | -88.9 | -191.9 | -166.9 | -121.5 | -80.9 | 35.3 | 24.6 | 18.5 | 16.1 | 9.1 | 18.4 | 22.9 | 23.8 | 30.1 | 15.7 | 7.8 | 4.7 | 0.8 | 2.1 | 6 |
Change in Accounts Receivable | -113.2 | -101.6 | -147.1 | -45.4 | -13.3 | -6.5 | 88.1 | -146.4 | -50.6 | -158.4 | -301 | -456.7 | -365.8 | -327.4 | -139.6 | -72.5 | -42.7 | -85.3 | -163.5 | -176.4 |
Change in Inventory | -82.8 | -33.6 | 60.6 | 131.2 | 82.4 | -38.1 | -171.7 | -253.5 | -280.4 | -208.1 | -140.9 | -109.1 | -59.6 | -30.5 | -18.2 | -19.4 | -30.7 | -44.4 | -63.6 | -42.2 |
Change in Accounts Payable | 33.3 | 103.8 | 76 | -10.2 | -85.5 | -106.7 | -100.6 | -43.1 | 37 | 48.9 | 65.6 | 105.2 | 77.3 | 49.1 | 34.8 | -13.1 | 29.8 | 18.2 | 34 | 37.4 |
Change in Unearned Revenue | 631.5 | 620.9 | 580 | 577.8 | 683.5 | 767.7 | 909.4 | 1,095 | 1,081 | 1,186 | 1,213 | 1,178 | 1,085 | 1,020 | 904.6 | 839.4 | 710.1 | 611.7 | 545.8 | 495.6 |
Change in Income Taxes | - | - | - | - | - | - | - | - | 5.9 | 1.9 | - | - | -5.9 | -1.9 | - | - | - | - | - | - |
Change in Other Net Operating Assets | -516.1 | -469.2 | -485.5 | -450.8 | -498.7 | -400.2 | -191.8 | -224.3 | -80.3 | -141.4 | -233.6 | -257.5 | -318.2 | -268.4 | -205.4 | -238 | -142 | -143.5 | -146.5 | -113.9 |
Operating Cash Flow | 2,448 | 2,401 | 2,291 | 2,258 | 1,972 | 1,915 | 2,088 | 1,936 | 2,272 | 2,204 | 2,012 | 1,731 | 1,569 | 1,485 | 1,580 | 1,500 | 1,429 | 1,251 | 1,080 | 1,084 |
Operating Cash Flow Growth | 24.13% | 25.35% | 9.70% | 16.67% | -13.19% | -13.09% | 3.80% | 11.84% | 44.77% | 48.39% | 27.35% | 15.40% | 9.79% | 18.68% | 46.26% | 38.39% | 46.22% | 27.96% | 16.64% | 34.12% |
Capital Expenditures | -419.6 | -368.2 | -223.5 | -378.9 | -308.2 | -342 | -395.7 | -204.1 | -208.1 | -225.8 | -188.9 | -281.2 | -401.6 | -382.8 | -366.4 | -295.9 | -176.9 | -143 | -150.4 | -125.9 |
Cash Acquisitions | -70.1 | -311.4 | -281 | -275.5 | -247 | -5.7 | -5.7 | - | -30.8 | -30.8 | -30.8 | -30.8 | -1.5 | -64.6 | -64.6 | -74.9 | -104.4 | -47.4 | -47.4 | -40.2 |
Investment in Securities | -143.1 | -104.6 | -63.7 | -73.1 | -164.2 | -155.7 | -476 | -445.5 | -121.5 | 305.2 | 986.5 | 1,076 | 683.3 | 122.3 | -466.4 | -954.7 | -844.2 | -852.6 | -354.8 | 92 |
Other Investing Activities | 0.1 | 0.2 | 0.3 | 0.1 | 0.3 | 0.2 | 0.2 | 0.3 | 0.1 | 0.1 | 0.1 | - | 0.4 | 0.4 | 0.4 | 0.4 | 1.3 | 1.7 | 1.7 | 1.3 |
Investing Cash Flow | -632.7 | -784 | -567.9 | -727.4 | -719.1 | -503.2 | -877.2 | -649.3 | -360.3 | 48.7 | 766.9 | 763.9 | 280.6 | -324.7 | -897 | -1,325 | -1,124 | -1,041 | -550.9 | -72.8 |
Long-Term Debt Issued | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 989.4 | - | - | - | - |
Total Debt Issued | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 989.4 | 989.4 | 989.4 | 989.4 | - |
Long-Term Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -19.5 | - | - | - | -4.1 |
Total Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | -17.3 | -19.5 | -19.5 | -19.5 | -2.2 | -4.1 | -4.1 | -4.1 |
Net Debt Issued (Repaid) | - | - | - | - | - | - | - | - | - | - | - | - | -17.3 | -19.5 | -19.5 | 969.9 | 987.2 | 985.3 | 985.3 | -4.1 |
Issuance of Common Stock | 61 | 74.8 | 69.9 | 63.1 | 47.5 | 34.1 | 36 | 43.8 | 40.4 | 39.5 | 36.3 | 26.1 | 27 | 26.1 | 27.1 | 26 | 24.6 | 22.2 | 24.6 | 22.1 |
Repurchase of Common Stock | -2,358 | -516.5 | -111.5 | -101.5 | -998.1 | -1,616 | -1,621 | -1,613 | -723.4 | -620.2 | -1,430 | -2,152 | -2,744 | -2,333 | -1,624 | -909.7 | -344.7 | -251 | -302 | -1,188 |
Other Financing Activities | -11 | -11 | -10.9 | -11.7 | -0.8 | -1 | -1.6 | -1.2 | -4.7 | -4.7 | -4.2 | -4.8 | -2.1 | -2 | -2.5 | -3.4 | -2.7 | -3.7 | -3.1 | -1.3 |
Financing Cash Flow | -2,308 | -452.7 | -52.5 | -50.1 | -951.4 | -1,583 | -1,587 | -1,570 | -687.7 | -585.4 | -1,398 | -2,130 | -2,737 | -2,329 | -1,619 | 82.8 | 664.4 | 752.8 | 704.8 | -1,172 |
Foreign Exchange Rate Adjustments | -1.3 | 1.1 | -0.3 | -2.6 | 0.8 | -1.9 | -2.1 | -0.8 | -1.1 | -0.7 | -0.2 | -0.4 | -1.5 | -1.1 | -0.4 | -0.1 | 0.2 | - | - | - |
Net Cash Flow | -493.6 | 1,165 | 1,670 | 1,478 | 302.5 | -173.1 | -377.9 | -285 | 1,223 | 1,666 | 1,381 | 363.8 | -888.1 | -1,169 | -936.7 | 257.3 | 969.8 | 962.9 | 1,234 | -160.7 |
Free Cash Flow | 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 | 957.8 |
Free Cash Flow Growth | 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% | 33.81% |
Free Cash Flow Margin | 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% | 36.92% |
Free Cash Flow Per Share | 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 | 1.14 |
Cash Income Tax Paid | 489.8 | 559.7 | 574.6 | 578.9 | 764.4 | 650.9 | 436.7 | 426.3 | 147.5 | 189.7 | 262.1 | 260.2 | 255.1 | 208.2 | 122.6 | 127.4 | 82 | 69.7 | 63.3 | 39.7 |
Levered Free Cash Flow | 1,709 | 1,904 | 1,965 | 1,835 | 1,648 | 1,411 | 1,523 | 1,439 | 1,681 | 1,579 | 1,380 | 1,061 | 849.66 | 830.96 | 969.69 | 905.51 | 1,050 | 896.78 | 714.81 | 751.75 |
Unlevered Free Cash Flow | 1,722 | 1,916 | 1,977 | 1,847 | 1,661 | 1,424 | 1,536 | 1,452 | 1,694 | 1,591 | 1,392 | 1,072 | 860.91 | 842.28 | 981 | 914.83 | 1,057 | 900.4 | 715.63 | 751.75 |
Change in Working Capital | -69.2 | -47.9 | -95.3 | -20.6 | -99.4 | -54.2 | 238.7 | 126.1 | 436.4 | 477.2 | 382.9 | 233 | 238.8 | 236.3 | 409.8 | 402.4 | 417.7 | 306.8 | 173.2 | 190 |
Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.