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Fortinet Inc (FTNT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Systems Software · DATA UPDATED 2026-07-13

Fortinet Inc (FTNT) operates in the Systems Software industry and is headquartered in Sunnyvale, United States with about 15,311 employees. Its market capitalization is roughly $112 billion. In the fiscal year ended 2025-12-31, FTNT reported $6.8B in revenue and $1.9B in net income.

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide.

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FTNT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$7.1B	$6.8B	$6.0B	$5.3B	$4.4B	$3.3B	$2.6B	$2.2B	$1.8B	$1.5B	$1.3B	$1.0B	$770M	$615M	$534M	$434M	$325M	$252M	$212M	$155M	$123M
Gross Profit	$5.7B	$5.5B	$4.8B	$4.1B	$3.3B	$2.6B	$2.0B	$1.7B	$1.4B	$1.1B	$938M	$722M	$539M	$435M	$386M	$320M	$239M	$182M	$146M	$99M	$83M
Gross Margin %	80.7%	80.8%	80.6%	76.7%	75.4%	76.6%	78.0%	76.6%	75.0%	74.2%	73.5%	71.6%	70.0%	70.6%	72.4%	73.8%	73.8%	72.2%	69.1%	63.5%	66.8%
Operating Income (EBIT)	$2.2B	$2.1B	$1.8B	$1.2B	$970M	$650M	$532M	$351M	$234M	$110M	$43M	$15M	$59M	$72M	$100M	$89M	$55M	$25M	$5M	($22M)	($6M)
Operating Margin %	31.1%	30.6%	30.3%	23.4%	21.9%	19.5%	20.5%	16.2%	13.0%	7.3%	3.4%	1.5%	7.7%	11.7%	18.8%	20.5%	17.0%	10.1%	2.3%	-13.9%	-4.9%
Net Income	$2.0B	$1.9B	$1.7B	$1.1B	$857M	$607M	$488M	$332M	$335M	$31M	$32M	$8M	$25M	$44M	$67M	$62M	$41M	$60M	$7M	($22M)	($5M)
Net Margin %	27.5%	27.3%	29.3%	21.6%	19.4%	18.2%	18.8%	15.3%	18.6%	2.1%	2.5%	0.8%	3.3%	7.2%	12.5%	14.4%	12.7%	23.9%	3.5%	-14.1%	-4.3%
EBITDA	$2.7B	$2.5B	$2.2B	$1.2B	$1.1B	$728M	$610M	$448M	$290M	$166M	$95M	$54M	$81M	$88M	$112M	$96M	$62M	$31M	$9M	($17M)	($2M)
Earnings Per Share (EPS)	$2.58	$2.48	$2.26	$1.46	$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	$0.09	$0.01	$-0.03	$-0.01
Shares Outstanding (M)	743M	748M	772M	788M	805M	836M	838M	875M	871M	890M	882M	881M	846M	841M	832M	819M	782M	652M	656M	671M	671M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FTNT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.9B	$1.9B	$1.7B	$1.6B	$1.5B	$1.7B	$1.5B	$1.4B
Gross Profit	$1.5B	$1.5B	$1.4B	$1.3B	$1.2B	$1.3B	$1.2B	$1.2B
Gross Margin %	80.3%	79.6%	81.5%	81.5%	81.0%	81.1%	82.5%	80.8%
Operating Income (EBIT)	$580M	$626M	$546M	$457M	$454M	$574M	$471M	$437M
Operating Margin %	31.4%	32.8%	31.6%	28.0%	29.5%	34.6%	31.2%	30.5%
Net Income	$534M	$506M	$474M	$440M	$433M	$526M	$540M	$380M
Net Margin %	28.9%	26.6%	27.5%	27.0%	28.1%	31.7%	35.8%	26.5%
EBITDA	$795M	$695M	$639M	$560M	$560M	$658M	$661M	$502M
Earnings Per Share (EPS)	$0.72	$0.68	$0.62	$0.57	$0.56	$0.68	$0.70	$0.49
Shares Outstanding (M)	743M	748M	770M	775M	777M	775M	772M	770M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FTNT Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.8B	$2.6B	$2.3B	$1.9B	$1.7B	$1.5B	$1.1B	$808M	$639M	$594M	$346M	$283M	$197M	$147M	$184M	$133M	$103M	$62M	$38M	$28M	$3M
Capital Expenditures (CapEx)	$369M	$365M	$379M	$204M	$281M	$296M	$126M	$92M	$53M	$135M	$67M	$37M	$32M	$14M	$22M	$4M	$4M	$5M	$3M	$2M	$1M
Free Cash Flow (FCF)	$2.4B	$2.2B	$1.9B	$1.7B	$1.4B	$1.2B	$958M	$716M	$586M	$459M	$278M	$245M	$164M	$134M	$162M	$129M	$100M	$57M	$35M	$26M	$2M
FCF Margin %	34.3%	32.7%	31.6%	32.6%	32.8%	36.0%	36.9%	33.1%	32.5%	30.7%	21.8%	24.3%	21.3%	21.7%	30.3%	29.8%	30.7%	22.8%	16.5%	16.5%	1.8%
Dividends Paid	—	—	—	—	—	$989M	—	—	—	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FTNT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$1.1B	$620M	$655M	$452M	$863M	$478M	$608M	$342M
Capital Expenditures (CapEx)	$71M	$43M	$88M	$168M	$66M	$98M	$36M	$23M
Free Cash Flow (FCF)	$1.0B	$577M	$568M	$284M	$797M	$380M	$572M	$319M
FCF Margin %	54.4%	30.3%	32.9%	17.4%	51.7%	22.9%	37.9%	22.2%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FTNT Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Total Assets	$9.9B	$10.4B	$9.8B	$7.3B	$6.2B	$5.9B	$4.0B	$3.9B	$3.1B	$2.3B	$2.1B	$1.8B	$1.4B	$1.2B	$975M	$735M	$545M	$387M	$199M	$145M
Cash & Cash Equivalents	$2.2B	$2.5B	$2.9B	$1.4B	$1.7B	$1.3B	$1.1B	$1.2B	$1.1B	$811M	$709M	$543M	$283M	$116M	$123M	$72M	$72M	$212M	$57M	$71M
Total Liabilities	$8.9B	$9.2B	$8.3B	$7.7B	$6.5B	$5.1B	$3.2B	$2.5B	$2.1B	$1.7B	$1.3B	$1.0B	$749M	$583M	$465M	$376M	$313M	$245M	$204M	$164M
Total Debt (Short + Long-Term)	$497M	$996M	$1.0B	$1.0B	$1.0B	$1.0B	$19M	$16M	$28M	$21M	$14M	$8M	$3M	$21M	$0M	$0M	$0M	$0M	$0M	$1M
Total Shareholders' Equity	$990M	$1.2B	$1.5B	($463M)	($282M)	$798M	$856M	$1.3B	$1.0B	$589M	$838M	$755M	$676M	$586M	$511M	$358M	$232M	$142M	($5M)	($19M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FTNT viewer.

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