Fortinet, Inc.

Fortinet, Inc.

FTNT
Fortinet, Inc.US flagNASDAQ Global Select
152.37
USD
+0.83
- -
111.63BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.76
0.94
1.18
1.48
1.72
2.13
2.53
3.16
4.1
5.58
6.81
7.79
8.97
9.47
Basic EPS, GAAP
0.05
0.03
0.01
0.04
0.04
0.4
0.39
0.6
0.74
1.08
1.47
2.28
2.45
2.6
Free Cash Flow per Basic Share
0.16
0.2
0.29
0.32
0.53
0.69
0.84
1.17
1.48
1.83
2.22
2.46
2.94
3.24
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.15
0.14
0.08
0.04
-0.37
-0.07
0.19
-0.43
-0.57
-1.95
-2.39
-0.15
-0.67
-1.04
Tangible Book Value per Share
0.71
0.82
0.86
0.93
0.64
1.12
1.46
0.89
0.75
-0.59
-0.8
1.5
1.16
0.86
Basic Weighted Avg Shares
812
819
852
863
872
846
855
821
816
791
779
764
758
751
Sales/Revenue/Turnover
615
770
1,009
1,275
1,495
1,805
2,163
2,594
3,342
4,417
5,305
5,956
6,800
7,110
Operating Margin (%)
11.72
7.7
2.23
3.68
7.37
12.99
16.23
20.5
19.46
21.95
23.4
30.28
30.66
31.1
Depreciation Expense
16
22
32
48
56
56
62
69
84
104
113
123
152
156
Net Income, GAAP
44
25
8
32
31
335
332
488
607
857
1,148
1,745
1,853
1,954
Effective Tax Rate (%)
41.7
58.82
53.03
25.29
74.68
- -
14.07
9.82
2.24
3.22
10.78
13.79
19.24
19.2
Profit Margin (%)
7.2
3.29
0.79
2.52
2.1
18.56
15.34
18.83
18.16
19.41
21.64
29.3
27.26
27.49
Working Capital
322
509
592
709
690
964
1,313
911
1,282
732
709
1,911
866
709
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
988
990
992
994
497
497
Total Equity
586
676
755
838
589
1,010
1,342
856
798
-282
-463
1,494
1,238
990
Return on Invested Capital (%)
7.54
3.83
1.48
4.39
3.88
- -
25.32
43.62
48.21
75.38
180.65
103.55
71.51
80.39
Return on Capital (%)
38.04
21.49
8.75
60.5
-22.3
- -
639.73
-511.79
667.88
-10,179.3
-163.86
37,498.76
273.52
383.49
Return on Common Equity (%)
38.04
21.49
8.75
60.5
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
499
500
- -
LT Borrowings
496
497
497
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
743
743
734
Market Capitalization
64,233
60,201
61,349

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
4,914
5,900
5,333
Cash, Cash Equivalents & STI
3,123
3,582
3,295
Accounts Receivable, Net
1,168
1,691
1,486
Inventories
427
400
370
Total Current Liabilities
4,786
5,034
4,624
Payables & Accruals
826
898
897
ST Debt
499
500
- -
Deferred Revenue
3,460
3,636
3,726

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-46.77%
-103.39%
-17.16%
Free Cash Flow
25.46%
18.5%
18.44%
Net Income, GAAP
147.12%
31.53%
6.2%
Sales/Revenue/Turnover
21.16%
21.5%
14.17%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,353
1,434
1,508
1,660
5,956
2025
1,540
1,630
1,725
1,905
6,800
2026
1,850
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.39
0.5
0.71
0.69
2.28
2025
0.56
0.57
0.63
0.68
2.45
2026
0.72
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Ken Xie
Full Time Employees
15,109
Sector
Technology
Industry
Software - Infrastructure
Address
899 Kifer Road Sunnyvale CA United States of America 94086
IPO Date
Nov 18, 2009
Business
Fortinet, Inc. (FTNT) develops and sells cybersecurity solutions, including next-generation firewalls, secure networking products, and cloud-based security services. The company offers a comprehensive portfolio encompassing FortiGate firewalls, FortiManager for centralized management, FortiAnalyzer for analytics and reporting, FortiClient endpoint protection, FortiSandbox for advanced threat detection, secure SD-WAN solutions, zero-trust network access (ZTNA), secure web gateways, and cloud security services such as FortiCNP and FortiWeb; it also provides professional services including consulting, managed security, and training through FortiEducate. Fortinet operates globally across the Americas, Europe, Middle East, Africa, and Asia-Pacific regions, serving enterprises, service providers, government entities, and small to medium-sized businesses in the cybersecurity industry. Founded in 2000 and headquartered in Sunnyvale, California, Fortinet integrates its proprietary FortiASIC hardware acceleration with software-defined networking to deliver high-performance security. The company segments its business into products, which account for the majority of revenue from hardware appliances and software licenses, and services, including support subscriptions and professional offerings. Fortinet maintains subsidiaries worldwide to support its international operations and has no parent company. In recent developments, Fortinet expanded its cloud security capabilities with the launch of FortiAI in 2024, an AI-driven platform for threat detection and response, and strengthened its strategic alliance with NVIDIA in 2025 to integrate AI infrastructure security. The company acquired Next DLP in early 2025 to enhance its data loss prevention offerings and announced a multi-year partnership with Microsoft to bolster cybersecurity for Azure environments. Additionally, Fortinet reported robust growth in its fiscal 2025 results, driven by demand for unified SASE solutions and accelerated billings from secure networking expansions.

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