Friday 6 November 2026 Export FTNT’s income statement to Excel — free account

Fortinet, Inc.

FTNT Technology Software Infrastructure

Fortinet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.8 billion, up 14.2% from fiscal 2024.

Revenue: +20.5%
EPS: +38.1%
Free cash flow: +55.4%
Total debt: −50.1%

Quarter to September 2026, against a year earlier

122.45 0.06 −0.05%

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Market cap: $90.0B
P/E: 39.5×
Fwd P/E: 42.2×
Dividend yield: —
F-score: 5/9
Altman Z: 5.29
Beneish M: −2.64
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Older periods	Dec '25	Mar '26	Jun '26	Sep '26
P/E ratio Full definition →	+8 more quarters Free account	32.55	31.43	53.71	57.66
P/S ratio Full definition →		8.85	8.49	14.96	16.65
P/FCF ratio Full definition →		27.04	24.79	36.13	38.25
P/Operating CF Full definition →		97.05	56.05	107.91	138.74
P/B ratio Full definition →		48.64	61.00	72.61	58.41
Price to Tangible BV Full definition →		68.18	93.56	92.57	69.12
EV/Sales Full definition →		8.47	8.17	14.55	16.17
EV/EBITDA Full definition →		22.69	21.58	37.20	40.85
EV/Operating CF Full definition →		22.24	20.71	32.26	34.57
EV/FCF Full definition →		25.88	23.85	35.14	37.14
Quick Ratio Full definition →		1.05	1.03	1.14	1.23
Current Ratio Full definition →		1.17	1.15	1.28	1.40
Net Debt/EBITDA Full definition →		(3.45)	(3.95)	(4.34)	(5.13)
Debt/Assets Full definition →		9.59%	5.03%	4.58%	4.16%
Debt/Equity Full definition →		0.81	0.50	0.32	0.22
Asset Turnover Full definition →		0.67	0.70	0.70	0.74
Operating CF/Net income Full definition →		1.23	2.02	1.72	1.49
Capex/Depreciation Full definition →		(0.35)	(0.55)	(0.58)	(0.48)
Interest Coverage Full definition →		142.18	138.10	215.41	234.77
Research and Development Expense of Revenue Full definition →		10.76%	11.57%	10.99%	10.27%
Selling, General and Administrative Expense of Revenue Full definition →		36.04%	37.44%	35.66%	34.86%
Intangible Assets out of Total Assets Full definition →		0.03	0.03	0.03	0.03
Share Based Compensation of Revenue Full definition →		3.81%	3.92%	3.87%	3.85%
Graham Net Nets Full definition →		(0.05)	(0.06)	(0.03)	(0.02)
Graham Number Full definition →		9.47	8.85	11.67	14.61
Earnings Yield Full definition →		3.07%	3.18%	1.86%	1.73%
Free Cash Flow Yield Full definition →		3.70%	4.03%	2.77%	2.61%
Revenue per Share Full definition →		2.51	2.50	2.79	2.83
Operating CF per Share Full definition →		0.82	1.46	1.42	1.29
Capex per Share Full definition →		(0.06)	(0.10)	(0.11)	(0.09)
Free Cash Flow per Share Full definition →		0.76	1.36	1.32	1.20
Cash per Share Full definition →		4.73	4.46	5.55	6.54
Shareholders Equity per Share Full definition →		1.63	1.34	2.12	3.06
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		1.63	1.34	2.12	3.06
Free Cash Flow Full definition →		577.40	1,006.50	965.60	881.80
Working Capital Full definition →		866.20	709.10	1,367.50	2,020.50
Capital Expenditures Full definition →		(42.80)	(70.60)	(78.00)	(64.20)
Net Current Asset Value Full definition →		(3,251.50)	(3,561.20)	(3,099.80)	(2,588.00)
EV/EBIT Full definition →		27.63	26.27	44.86	49.03
Capex to Sales Full definition →		0.02	0.04	0.04	0.03
Price to Operating Income Full definition →		28.87	27.31	46.11	50.49
Other line items
Average Receivables Full definition →		1,577.30	1,330.10	1,335.65	1,314.65
Average Payables Full definition →		210.85	231.60	263.85	325.80
Average Inventory Full definition →		357.50	366.15	415.75	508.90
Average Assets Full definition →		10,076.15	10,145.25	10,750.30	10,652.05
Average Common Equity Full definition →		1,365.65	1,476.30	1,805.75	1,490.95

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Columns are period end dates · fundamentals updated 5 Nov 2026

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