FTNT · Fortinet, Inc.
$151.99
-1.52 (-0.99%)
At close · Aug 24
Market Cap
$112.63B
Shares
733.71M
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$6.8B
+14.2%
FY2025
Net Income
$1.85B
+6.2%
FY2025
Gross Margin
80.46%
-0.1pp
FY2025
Operating Margin
30.66%
+0.4pp
FY2025
Diluted EPS
$2.42
+7.1%
FY2025
Operating Cash Flow
$2.59B
+14.7%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | FY2026 (G) | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $8.02B – $8.18B | $7.53B | $6.8BG | $5.96BG | $5.3BG | $4.42B | $3.34B | $2.59B | $2.16B | $1.8B | $1.49B | $1.28B | $1.01B | $770.36M | $615.3M | $533.64M | $433.58M | $324.7M | $252.12M | |
| — | $1.49B | $1.33B | $1.16B | $1.24B | $1.08B | $783M | $570M | $505.9M | $450.4M | $385.3M | $337.8M | $286.78M | $231.01M | $180.64M | $147.42M | $113.6M | $85.21M | $69.98M | |
| — | $6.04B | $5.47B | $4.8B | $4.07B | $3.33B | $2.56B | $2.02B | $1.66B | $1.35B | $1.11B | $937.6M | $722.49M | $539.36M | $434.65M | $386.22M | $319.98M | $239.49M | $182.14M | |
| — | — | 80.46% | 80.56% | 76.68% | 75.44% | 76.57% | 78.03% | 76.61% | 75.04% | 74.23% | 73.51% | 71.59% | 70.01% | 70.64% | 72.37% | 73.8% | 73.76% | 72.24% | |
| — | $846.4M | $815.5M | $716.8M | $613.8M | $512.4M | $424.2M | $341.4M | $277.1M | $244.5M | $210.6M | $183.1M | $158.13M | $122.88M | $102.66M | $81.08M | $63.58M | $49.8M | $42.2M | |
| — | $2.52B | $2.35B | $2.04B | $2.01B | $1.69B | $1.35B | $1.07B | $926.9M | $782.3M | $701M | $626.5M | $470.37M | $315.8M | $224.99M | $179.16M | $145.53M | $111.97M | $96.29M | |
| — | $236M | $233.4M | $237.8M | $211.3M | $169M | $143.5M | $119.5M | $102.1M | $93M | $87.9M | $81.1M | $71.51M | $41.35M | $34.91M | $25.51M | $21.97M | $22.38M | $18.32M | |
| — | $45.9M | $50.7M | $23.1M | $18.9M | $23.3M | $18.5M | $13.3M | $10.9M | $9M | $8.6M | $9.3M | $3.2M | $1.5M | $1.7M | $1M | $400K | — | — | |
| — | $156M | $152M | $122.8M | $113.4M | $104.3M | $84.4M | $68.8M | $61.6M | $55.7M | $55.5M | $48.5M | $31.59M | $22.03M | $15.62M | $11.56M | $6.99M | $5.7M | $5.94M | |
| — | — | — | — | — | — | — | — | $0 | $0 | $300K | $4M | $7.6M | $0 | $0 | — | — | — | — | |
| — | $3.6B | $3.39B | $2.99B | $2.83B | $2.36B | $1.91B | $1.49B | $1.31B | $1.12B | $999.8M | $894.7M | $707.61M | $480.03M | $362.56M | $285.74M | $231.07M | $184.15M | $156.81M | |
| — | $2.44B | $2.08B | $1.8B | $1.24B | $969.6M | $650.4M | $531.8M | $351M | $234.4M | $109.8M | $42.9M | $14.88M | $59.32M | $72.09M | $100.48M | $88.9M | $55.34M | $25.33M | |
| — | — | 30.66% | 30.28% | 23.4% | 21.95% | 19.46% | 20.5% | 16.23% | 12.99% | 7.34% | 3.36% | 1.47% | 7.7% | 11.72% | 18.83% | 20.5% | 17.04% | 10.05% | |
| — | $2.37B | $2.24B | $1.93B | $1.35B | $1.07B | $734.8M | $600.6M | $412.6M | $290.1M | $165.3M | $91.4M | $46.47M | $81.35M | $87.71M | $112.04M | $95.89M | $61.04M | $31.27M | |
| — | $18M | $20.1M | $20M | $21M | $18M | $14.9M | $0 | $0 | — | — | — | — | — | — | — | — | — | — | |
| — | $59.1M | $55.3M | $119.9M | -$6.1M | -$13.5M | -$11.6M | -$7.8M | -$7.5M | -$6.6M | $700K | -$7.1M | -$3.17M | -$3.17M | -$1.46M | -$485K | -$354K | -$815K | $198K | |
| — | $800K | $10.3M | -$29.4M | -$42.1M | -$68.1M | -$7.6M | $0 | $0 | — | — | — | — | — | — | — | — | — | — | |
| — | $2.62B | $2.28B | $2.06B | $1.33B | $955.5M | $628.4M | $541.7M | $386M | $254.3M | $124M | $43.1M | $17.01M | $61.55M | $75.94M | $105M | $92.07M | $56.34M | $27.51M | |
| — | $502.5M | $439.1M | $283.9M | $143.8M | $30.8M | $14.1M | $53.2M | $54.3M | -$80.6M | $92.6M | $10.9M | $9.02M | $36.21M | $31.67M | $38.16M | $29.58M | $15.1M | -$32.67M | |
| — | $2.12B | $1.85B | $1.75B | $1.15B | $857.3M | $606.8M | $488.5M | $331.7M | $334.9M | $31.4M | $32.2M | $7.99M | $25.34M | $44.27M | $66.84M | $62.49M | $41.25M | $60.18M | |
| — | — | 27.26% | 29.3% | 21.64% | 19.41% | 18.16% | 18.83% | 15.34% | 18.56% | 2.1% | 2.52% | 0.79% | 3.29% | 7.2% | 12.52% | 14.41% | 12.7% | 23.87% | |
| — | — | — | $0 | $0 | -$700K | -$100K | $0 | $0 | — | — | — | — | — | — | — | — | — | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $62.49M | $41.25M | $50.91M | |
| — | $2.11B | $1.85B | $1.74B | $1.15B | $841.9M | $601.3M | $488.1M | $333.7M | $334.9M | $31.3M | $32.4M | $7.4M | $23.9M | $42.27M | $69.53M | $60.71M | $42.34M | — | |
| USD/shares | — | — | $2.45 | $2.28 | $1.47 | $1.08 | $0.74 | $0.60 | $0.39 | $0.40 | $0.04 | $0.04 | $0.01 | $0.03 | $0.05 | $0.08 | $0.08 | $0.06 | $0.19 |
| USD/shares | $3.41 – $3.47* | — | $2.42G | $2.26 | $1.46G | $1.06 | $0.73 | $0.58 | $0.38 | $0.38 | $0.04 | $0.04 | $0.01 | $0.03 | $0.05 | $0.08 | $0.08 | $0.05 | $0.08 |
| shares | — | — | 758M | 764.4M | 778.6M | 791.4M | 816.1M | 821M | 855M | 845.5M | 871.5M | 863M | 851.93M | 819.16M | 812.18M | 790.37M | 762.91M | 703.63M | 263.34M |
| shares | — | — | 764.6M | 771.9M | 788.2M | 805.3M | 835.3M | 838.3M | 875M | 871M | 890.5M | 881.5M | 880.71M | 846.45M | 840.92M | 831.65M | 818.91M | 782.03M | 652.19M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2025: $8.66B in buybacks.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
14.64×
Peer median 7.25×
EV/EBIT
45.12×
Peer median 33.16×
P/E (TTM)
54.24×
Peer median 46.46×
Peer medians compare against the 25 similar-size Software - Infrastructure companies (of 147 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Reportable Segment | $6,799,600,000 | $5,955,800,000 | $5,304,800,000 | $4,417,400,000 |
By Geography (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Europe, Middle East and Africa | $2,834,300,000 | $2,396,200,000 | $2,072,900,000 | $1,691,800,000 | $1,275,900,000 | $991,900,000 | $816,500,000 | $679,300,000 |
| United States | $1,929,500,000 | $1,778,900,000 | $1,605,900,000 | $1,325,000,000 | $1,006,800,000 | $813,300,000 | $695,500,000 | $578,300,000 |
| Asia Pacific and Japan | $1,264,900,000 | $1,117,400,000 | $1,056,700,000 | $940,600,000 | $707,500,000 | $525,300,000 | $426,300,000 | $360,900,000 |
| Other Americas | $770,900,000 | $663,300,000 | $569,300,000 | $460,000,000 | $352,000,000 | $263,900,000 | $224,700,000 | $186,100,000 |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Security Subscription | $2,633,200,000 | $2,316,700,000 | $1,898,100,000 | $1,427,000,000 | $1,125,000,000 | $918,700,000 | $750,800,000 | $606,100,000 |
| Product | $2,218,400,000 | $1,908,700,000 | $1,927,300,000 | $1,780,500,000 | $1,255,000,000 | $916,400,000 | $788,500,000 | $674,400,000 |
| Technical Support and Other | $1,948,000,000 | $1,730,400,000 | $1,479,400,000 | $1,209,900,000 | $962,200,000 | $759,300,000 | $623,700,000 | $524,100,000 |
| Technical Support | — | — | — | — | — | — | $616,800,000 | $520,700,000 |
Key facts
CIK
1262039
CUSIP
34959E109
13F (30d)
1192 filings
1150 filers
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