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) EBITDA
Fortinet, Inc.'s EBITDA for fiscal 2025 was $2.5B, up 17.0% from $2.2B in fiscal 2024. Over the twelve months to 30 June 2026 it was $2.9B. Over the past ten years it has ranged from $53.9M (fiscal 2015) to $2.5B (fiscal 2025) — the current reading is the highest in ten years. EBITDA has risen for 10 consecutive fiscal years. Fortinet, Inc. ranks 5th of 163 Software Infrastructure companies by EBITDA.
EBITDA, annual
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Annual newest first
| Period | EBITDA | Change |
|---|---|---|
| FY2025 | $2.5B | 16.96% |
| FY2024 | $2.2B | 36.28% |
| FY2023 | $1.6B | 22.40% |
| FY2022 | $1.3B | 41.85% |
| FY2021 | $917.6M | 24.12% |
| FY2020 | $739.3M | 43.69% |
| FY2019 | $514.5M | 35.25% |
| FY2018 | $380.4M | 126.70% |
| FY2017 | $167.8M | 74.43% |
| FY2016 | $96.2M | 78.40% |
Quarterly newest first
| Period | EBITDA | Change |
|---|---|---|
| Jun 2026 | $822.9M | 16.03% |
| Mar 2026 | $709.2M | (5.31%) |
| Dec 2025 | $749.0M | 12.84% |
| Sep 2025 | $663.8M | 16.62% |
| 42 more quarters | Free account |
Against its own ten years
EBITDA against peers
| Company | EBITDA |
|---|---|
| ORCL Oracle Corporation compare | $33.9B |
| FTNT Fortinet, Inc. | $2.9B |
| SNPS Synopsys, Inc. compare | $2.7B |
| PANW Palo Alto Networks, Inc. compare | $2.2B |
| NTAP NetApp, Inc. compare | $2.0B |
| CRWD CrowdStrike compare | $646.2M |
| XYZ Block, Inc. compare | $356.0M |
| NBIS Nebius Group N.V. compare | $141.9M |
| NET Cloudflare, Inc. compare | −$1.6M |
What EBITDA is
EBITDA shows what a company earns from its operations before interest, taxes and the non-cash charges for depreciation and amortization.
Reported line item
More on FTNT
- Revenue
- Net income
- EPS (diluted)
- 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
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement