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Saturday 17 October 2026 Export FTNT’s income statement to Excel — free account

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.

169.13 12.78 −7.03%
Market cap
$133.5B
P/E
59.1×
Fwd P/E
52.1×
Dividend yield
—
F-score
5/9
Altman Z
5.29
Beneish M
−2.64
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Fortinet, Inc. (FTNT) Operating margin

Alert me on Operating margin

Fortinet, Inc.'s operating margin over the twelve months to 30 June 2026 was 32.4%, up 1.8 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 0.00%.

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)
Jun 2026 33.7% 2.30
Mar 2026 31.4% (1.48)
Dec 2025 32.8% 1.11
Sep 2025 31.7% 3.63
42 more quarters

Against its own ten years

Low 1.47% High 30.7%
Ten-year median 19.5%
Current reading's percentile 100

Operating margin against peers

Company Operating margin
FTNT Fortinet, Inc. 32.4%
ORCL Oracle Corporation compare 32.1%
NTAP NetApp, Inc. compare 25.0%
SNPS Synopsys, Inc. compare 8.52%
PANW Palo Alto Networks, Inc. compare 6.05%
XYZ Block, Inc. compare 4.67%
CRWD CrowdStrike compare −2.46%
NET Cloudflare, Inc. compare −14.1%
NBIS Nebius Group N.V. compare −50.5%
Software Infrastructure industry median 0.00%
Technology sector median 0.00%
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

The full definition of Operating margin →

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