stockrowFortinet, 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.
- Revenue
- +20.5%
- EPS
- +38.1%
- Free cash flow
- +55.4%
- Total debt
- −50.1%
Quarter to September 2026, against a year earlier
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Fortinet, Inc. (FTNT) Operating margin
Fortinet, Inc.'s operating margin over the twelve months to 30 September 2026 was 33.0%, up 2.3 percentage points from fiscal 2025 (30.7%). Over the past ten years it has ranged from 1.47% (fiscal 2015) to 30.7% (fiscal 2025) — the current reading is the highest in ten years. That is above the Software Infrastructure industry median of 0.00% and above the Technology sector median of 0.02%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 30.7% | 0.38 |
| FY2024 | 30.3% | 6.88 |
| FY2023 | 23.4% | 1.45 |
| FY2022 | 22.0% | 2.49 |
| FY2021 | 19.5% | (1.04) |
| FY2020 | 20.5% | 4.27 |
| FY2019 | 16.2% | 3.24 |
| FY2018 | 13.0% | 5.65 |
| FY2017 | 7.34% | 3.98 |
| FY2016 | 3.36% | 1.89 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 33.9% | 0.23 |
| Jun 2026 | 33.7% | 2.30 |
| Mar 2026 | 31.4% | (1.48) |
| Dec 2025 | 32.8% | 1.11 |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| FTNT Fortinet, Inc. | 33.0% |
| NTAP NetApp, Inc. compare | 25.0% |
| SNPS Synopsys, Inc. compare | 8.52% |
| OKTA Okta, Inc. compare | 7.55% |
| XYZ Block, Inc. compare | 4.64% |
| CRWD CrowdStrike compare | −2.46% |
| ZS Zscaler, Inc. compare | −3.98% |
| NET Cloudflare, Inc. compare | −14.1% |
| NBIS Nebius Group N.V. compare | −50.5% |
| Software Infrastructure industry median | 0.00% |
| Technology sector median | 0.02% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on FTNT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross 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