Fortinet, Inc. FTNT
173.46
(5.21)
(2.92%)
as of 25 Sep
- Market cap
- $130.0B
- P/E
- 60.7×
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Fortinet, Inc. (FTNT) Free cash flow
Fortinet, Inc.'s free cash flow for fiscal 2025 was $2.2B, up 18.4% from $1.9B in fiscal 2024. Over the twelve months to 30 June 2026 it was $3.1B. Over the past ten years it has ranged from $245.2M (fiscal 2015) to $2.2B (fiscal 2025) — the current reading is the highest in ten years. Free cash flow has risen for 10 consecutive fiscal years. Fortinet, Inc. ranks 5th of 169 Software Infrastructure companies by free cash flow.
Free cash flow, annual
Annual
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $2.2B | 18.44% |
| FY2024 | $1.9B | 8.54% |
| FY2023 | $1.7B | 19.46% |
| FY2022 | $1.4B | 20.40% |
| FY2021 | $1.2B | 25.68% |
| FY2020 | $957.8M | 33.81% |
| FY2019 | $715.8M | 22.17% |
| FY2018 | $585.9M | 27.62% |
| FY2017 | $459.1M | 64.85% |
| FY2016 | $278.5M | 13.59% |
Quarterly
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | $965.6M | (4.06%) |
| Mar 2026 | $1.0B | 74.32% |
| Dec 2025 | $577.4M | 1.74% |
| Sep 2025 | $567.5M | 99.75% |
| 42 more quarters | Free account |
Against its own ten years
Low $245.2M
High $2.2B
Ten-year median
$957.8M
Current reading's percentile
100
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| PANW Palo Alto Networks, Inc. compare | $4.1B |
| XYZ Block, Inc. compare | $3.9B |
| FTNT Fortinet, Inc. | $3.1B |
| SNPS Synopsys, Inc. compare | $2.7B |
| CRWD CrowdStrike compare | $1.5B |
| TWLO Twilio Inc. compare | $973.4M |
| NET Cloudflare, Inc. compare | $314.9M |
| NBIS Nebius Group N.V. compare | −$5.9B |
| CRWV CoreWeave Inc. compare | −$13.7B |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on FTNT
- Revenue
- Net income
- EBITDA
- 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
- 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
- The full statement