Fortinet financials
$175.96−0.21%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.80B | $5.96B | $5.30B | $4.42B | $3.34B | $2.59B | $2.16B | $1.80B | $1.49B | $1.28B |
| Gross profit | $5.47B | $4.80B | $4.07B | $3.33B | $2.56B | $2.02B | $1.66B | $1.35B | $1.11B | $937.6M |
| Gross margin | 80.5% | 80.6% | 76.7% | 75.4% | 76.6% | 78.0% | 76.6% | 75.0% | 74.2% | 73.5% |
| Operating income | $2.07B | $1.80B | $1.24B | $969.6M | $650.4M | $491.6M | $351.0M | $234.4M | $109.8M | $42.9M |
| Net income | $1.85B | $1.75B | $1.15B | $857.3M | $606.8M | $488.5M | $331.7M | $334.9M | $31.4M | $32.2M |
| Net margin | 27.3% | 29.3% | 21.6% | 19.4% | 18.2% | 18.8% | 15.3% | 18.6% | 2.1% | 2.5% |
| Diluted EPS | $2.42 | $2.26 | $1.46 | $1.06 | $0.73 | $0.58 | $0.38 | $0.38 | $0.04 | $0.04 |
| EBITDA | $2.56B | $2.22B | $1.62B | $1.29B | $906.1M | $697.8M | $520.5M | $381.0M | $165.6M | $95.4M |
| Operating cash flow | $2.59B | $2.26B | $1.94B | $1.73B | $1.50B | $1.08B | $808.0M | $638.9M | $594.4M | $345.7M |
| Free cash flow | $2.23B | $1.88B | $1.73B | $1.45B | $1.20B | $957.8M | $715.8M | $585.9M | $459.1M | $278.5M |
| Diluted shares | 764.6M | 771.9M | 788.2M | 805.3M | 835.3M | 838.3M | 875.0M | 871.0M | 890.5M | 881.5M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $2.50B | $2.88B | $1.40B | $1.68B | $1.32B | $1.06B |
| Short-term investments | $1.09B | $1.19B | $1.04B | $528.1M | $1.23B | $775.5M |
| Total debt | $996.3M | $994.3M | $992.3M | $990.4M | $988.4M | $0.00 |
| Total assets | $10.39B | $9.76B | $7.26B | $6.23B | $5.92B | $4.04B |
| Total liabilities | $9.15B | $8.27B | $7.72B | $6.51B | $5.12B | $3.19B |
| Shareholders' equity | $1.24B | $1.49B | -$463.4M | -$281.6M | $798.4M | $856.0M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology