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. In the quarter to June 2026, revenue grew 25.6%, EPS grew 45.6%, free cash flow grew 239.9% and total debt fell 50.1%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for ten.
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Fortinet, Inc. (FTNT) Debt to equity
Fortinet, Inc.'s debt to equity at the end of the quarter to 30 June 2026 was 0.3×, down 0.5× from fiscal 2025 (0.8×). Over the past ten years it has ranged from −3.6× (fiscal 2022) to 1.3× (fiscal 2021); the current reading is higher than 91% of that period. That is above the Software Infrastructure industry median of 0.0× and above the Technology sector median of 0.1×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 0.8× | 20.96% |
| FY2024 | 0.7× | — |
| FY2023 | −2.1× | — |
| FY2022 | −3.6× | — |
| FY2021 | 1.3× | 1,952.50% |
| FY2020 | 0.1× | 76.86% |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 0.3× | (36.18%) |
| Mar 2026 | 0.5× | (37.65%) |
| Dec 2025 | 0.8× | (40.57%) |
| Sep 2025 | 1.4× | 180.44% |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| PANW Palo Alto Networks, Inc. compare | 0.1× |
| CRWD CrowdStrike compare | 0.1× |
| XYZ Block, Inc. compare | 0.3× |
| FTNT Fortinet, Inc. | 0.3× |
| SNPS Synopsys, Inc. compare | 0.3× |
| NBIS Nebius Group N.V. compare | 0.8× |
| NET Cloudflare, Inc. compare | 1.2× |
| NTAP NetApp, Inc. compare | 1.7× |
| ORCL Oracle Corporation compare | 1.8× |
| Software Infrastructure industry median | 0.0× |
| Technology sector median | 0.1× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
More on FTNT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement