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) 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
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Annual newest first
| 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 newest first
| 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
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 |
| NTAP NetApp, Inc. compare | $1.7B |
| CRWD CrowdStrike compare | $1.5B |
| NET Cloudflare, Inc. compare | $314.9M |
| NBIS Nebius Group N.V. compare | −$5.9B |
| ORCL Oracle Corporation compare | −$28.7B |
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
- EPS (diluted)
- 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
- 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