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) Gross margin
Fortinet, Inc.'s gross margin over the twelve months to 30 June 2026 was 80.2%, down 0.3 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 59.2% and above the Technology sector median of 47.0%.
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) |
|---|---|---|
| Jun 2026 | 80.2% | (0.05) |
| Mar 2026 | 80.3% | 0.72 |
| Dec 2025 | 79.6% | (1.20) |
| Sep 2025 | 80.8% | 0.09 |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| FTNT Fortinet, Inc. | 80.2% |
| CRWD CrowdStrike compare | 75.2% |
| NBIS Nebius Group N.V. compare | 74.3% |
| NET Cloudflare, Inc. compare | 72.6% |
| SNPS Synopsys, Inc. compare | 72.4% |
| NTAP NetApp, Inc. compare | 70.6% |
| PANW Palo Alto Networks, Inc. compare | 70.4% |
| ORCL Oracle Corporation compare | 64.0% |
| XYZ Block, Inc. compare | 46.4% |
| Software Infrastructure industry median | 59.2% |
| Technology sector median | 47.0% |
| Market median | 46.2% |
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