Fortinet, Inc. (FTNT) Financial Statements
Industry: Computer Peripheral Equipment (Other)
In fiscal 2025, Fortinet reported revenue of $6.80B, up 14.2% from $5.96B the year before. Net income was $1.85B (a 27.3% net margin), or $2.42 per diluted share. Gross margin was 80.5% and operating margin was 30.7%. Operating activities generated $2.59B of cash, leaving $2.23B of free cash flow. At fiscal year end, Fortinet held $10.39B in total assets against $9.15B in total liabilities, including $2.50B of cash and equivalents.
Open the full interactive Fortinet financials → Quarterly statements, key ratios, valuation history and price charts.
Fortinet Key Stats
| Share Price | $190.76 |
|---|---|
| Market Cap | $141.14B |
| P/E Ratio | 78.8 |
| Revenue YoY Growth | +14.2% |
| 52-Week Range | $75.23 – $194.75 |
| Shares Outstanding | 733.1 million (basic, 2026 Q2) |
Fortinet Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.59B | $3.34B | $4.42B | $5.30B | $5.96B | $6.80B |
| Cost of Goods Sold | $570.0M | $783.0M | $1.08B | $1.24B | $1.16B | $1.33B |
| Gross Profit | $2.02B | $2.56B | $3.33B | $4.07B | $4.80B | $5.47B |
| Operating Income | $531.8M | $650.4M | $969.6M | $1.24B | $1.80B | $2.08B |
| Pre-Tax Income | $541.7M | $628.4M | $955.5M | $1.33B | $2.06B | $2.28B |
| Income Tax | $53.2M | $14.1M | $30.8M | $143.8M | $283.9M | $439.1M |
| Net Income | $488.5M | $606.8M | $857.3M | $1.15B | $1.75B | $1.85B |
| Diluted EPS | $0.58 | $0.73 | $1.06 | $1.46 | $2.26 | $2.42 |
Fortinet Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.72B | $1.91B | $1.85B | $2.05B |
| Net Income | $473.9M | $506.0M | $534.5M | $606.3M |
| Diluted EPS | $0.62 | $0.66 | $0.72 | $0.82 |
Fortinet Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.06B | $1.32B | $1.68B | $1.40B | $2.88B | $2.50B |
| Current Assets | $2.74B | $3.60B | $3.81B | $4.43B | $5.97B | $5.90B |
| Total Assets | $4.04B | $5.92B | $6.23B | $7.26B | $9.76B | $10.39B |
| Current Liabilities | $1.83B | $2.32B | $3.08B | $3.72B | $4.06B | $5.03B |
| Total Long-Term Debt | — | $988.4M | $990.4M | $992.3M | $994.3M | $996.3M |
| Total Liabilities | $3.19B | $5.12B | $6.51B | $7.72B | $8.27B | $9.15B |
| Shareholders' Equity | $856.0M | $781.7M | -$281.6M | -$463.4M | $1.49B | $1.24B |
Fortinet Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.08B | $1.50B | $1.73B | $1.94B | $2.26B | $2.59B |
| Cash From Investing | -$72.8M | -$1.33B | $763.9M | -$649.3M | -$727.4M | -$599.1M |
| Cash From Financing | -$1.17B | $82.8M | -$2.13B | -$1.57B | -$50.1M | -$2.37B |
| Free Cash Flow | $957.8M | $1.20B | $1.45B | $1.73B | $1.88B | $2.23B |
Figures from Fortinet's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Fortinet financials page for every line item.
Fortinet Company Profile
| Ticker | FTNT |
|---|---|
| Exchange | Nasdaq |
| Industry | Computer Peripheral Equipment (Other) |
| Headquarters | Sunnyvale, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001262039 |
Frequently Asked Questions
What was Fortinet's revenue in fiscal 2025?
Fortinet (FTNT) reported revenue of $6.80B for fiscal 2025.
What is Fortinet's annual revenue history?
Fortinet's annual revenue by fiscal year: 2020: $2.59B; 2021: $3.34B; 2022: $4.42B; 2023: $5.30B; 2024: $5.96B; 2025: $6.80B.
What was Fortinet's net income in fiscal 2025?
Fortinet reported net income of $1.85B for fiscal 2025.
What was Fortinet's earnings per share (EPS) in fiscal 2025?
Fortinet's diluted EPS was $2.42 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Fortinet generate in fiscal 2025?
Fortinet generated $2.23B of free cash flow in fiscal 2025.
What was Fortinet's revenue last quarter?
In its most recent reported quarter (2026 Q2), Fortinet reported revenue of $2.05B.
How much debt does Fortinet have?
Fortinet reported $996.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Fortinet are outstanding?
Fortinet reported a weighted average of 733.1 million basic shares outstanding in 2026 Q2.
What is Fortinet's market cap?
Based on its latest closing price, Fortinet (FTNT) has a market capitalization of about $141.14B.
When does Fortinet's fiscal year end?
Fortinet's fiscal year end, as registered with the SEC, is December 31.
Where is Fortinet headquartered?
Fortinet lists its business address in Sunnyvale, California in its SEC filings.
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