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Fortinet, Inc. (FTNT)
Technology · Software - Infrastructure · NasdaqGS
Fortinet, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.28B | $1.49B | $1.80B | $2.16B | $2.59B | $3.34B | $4.42B | $5.30B | $5.96B | $6.80B |
| Gross profit | $937.60M | $1.11B | $1.35B | $1.66B | $2.02B | $2.56B | $3.33B | $4.07B | $4.80B | $5.47B |
| Net income | $32.20M | $31.40M | $334.90M | $331.70M | $488.50M | $606.80M | $857.30M | $1.15B | $1.75B | $1.85B |
| Net margin | 2.5% | 2.1% | 18.6% | 15.3% | 18.8% | 18.2% | 19.4% | 21.6% | 29.3% | 27.3% |
Source: Fortinet, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
What growth is priced into FTNT stock?
At today's market cap of $101.39B, Fortinet, Inc. is priced for free-cash-flow growth of about 18.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $2.23B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 18.4%/yr over the last five fiscal years and revenue 21.3%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of Fortinet, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Fortinet, Inc. financial history by metric
About Fortinet, Inc.
Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.
Fortinet, Inc. — frequently asked questions
What is Fortinet, Inc.'s revenue?
Fortinet, Inc. (FTNT) reported revenue of $6.80B for fiscal year 2025, up 14.2% from the prior year, according to its SEC filings.
Is Fortinet, Inc. profitable?
Yes. FTNT earned net income of $1.85B in fiscal 2025, a net margin of 27.3%.
What is FTNT's P/E ratio?
Fortinet, Inc. trades at a price-to-earnings ratio of about 53.8 based on the latest data in our nightly-refreshed cache.
How fast is Fortinet, Inc. growing?
FTNT's revenue grew at roughly 21.3% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Fortinet, Inc. have?
As of fiscal year 2025, FTNT carried roughly $496.60M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Fortinet, Inc.'s gross margin?
FTNT's gross margin was 80.5% in fiscal 2025 — gross profit of $5.47B on revenue of $6.80B.
What is Fortinet, Inc.'s market cap?
Fortinet, Inc. (FTNT) has a market capitalization of about $101.39B, based on the latest data in our nightly-refreshed cache.
When does Fortinet, Inc.'s fiscal year end?
FTNT's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into FTNT stock?
At today's market cap of $101.39B, Fortinet, Inc. is priced for free-cash-flow growth of about 18.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $2.23B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 18.4%/yr over the last five fiscal years and revenue 21.3%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Fortinet, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.