stockrowFortinet, Inc.
FTNTTechnology 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
- +37.4%
- Free cash flow
- +55.4%
- Total debt
- −50.1%
Quarter to September 2026, against a year earlier
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Fortinet, Inc. (FTNT) Gross margin
Fortinet, Inc.'s gross margin over the twelve months to 30 September 2026 was 79.8%, down 0.7 percentage points from fiscal 2025 (80.5%). Over the past ten years it has ranged from 71.6% (fiscal 2015) to 80.6% (fiscal 2024); the current reading is higher than 91% of that period. That is above the Software Infrastructure industry median of 57.9% and above the Technology sector median of 47.1%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 80.5% | (0.10) |
| FY2024 | 80.6% | 3.88 |
| FY2023 | 76.7% | 1.24 |
| FY2022 | 75.4% | (1.13) |
| FY2021 | 76.6% | (1.46) |
| FY2020 | 78.0% | 1.42 |
| FY2019 | 76.6% | 1.57 |
| FY2018 | 75.0% | 0.81 |
| FY2017 | 74.2% | 0.72 |
| FY2016 | 73.5% | 1.92 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 79.0% | (1.29) |
| Jun 2026 | 80.2% | (0.05) |
| Mar 2026 | 80.3% | 0.72 |
| Dec 2025 | 79.6% | (1.20) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| FTNT Fortinet, Inc. | 79.8% |
| ZS Zscaler, Inc. compare | 76.8% |
| CRWD CrowdStrike compare | 75.2% |
| NBIS Nebius Group N.V. compare | 74.3% |
| SNPS Synopsys, Inc. compare | 72.4% |
| NET Cloudflare, Inc. compare | 71.9% |
| NTAP NetApp, Inc. compare | 70.6% |
| TWLO Twilio Inc. compare | 48.6% |
| XYZ Block, Inc. compare | 47.5% |
| Software Infrastructure industry median | 57.9% |
| Technology sector median | 47.1% |
| Market median | 46.6% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on FTNT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- 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