Fortinet Inc (FTNT) financials
Fortinet revenue and earnings by year
Fortinet's revenue was $6.80 billion in the fiscal year to December 31, 2025, up 14.2% from the year before. Net income was $1.85 billion, 27.3% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 20.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.80 | 5.96 | 5.30 | 4.42 | 3.34 | 2.59 | 2.16 | 1.80 | 1.49 | 1.28 |
| Revenue growth | 14.2% | 12.3% | 20.1% | 32.2% | 28.8% | 19.9% | 19.9% | 20.7% | 17.2% | — |
| Gross profit | 5.47 | 4.80 | 4.07 | 3.33 | 2.56 | 2.02 | 1.66 | 1.35 | 1.11 | 0.94 |
| Gross margin | 80.5% | 80.6% | 76.7% | 75.4% | 76.6% | 78.0% | 76.6% | 75.0% | 74.2% | 73.5% |
| Operating income | 2.08 | 1.80 | 1.24 | 0.97 | 0.65 | 0.53 | 0.35 | 0.23 | 0.11 | 0.04 |
| Operating margin | 30.7% | 30.3% | 23.4% | 21.9% | 19.5% | 20.5% | 16.2% | 13.0% | 7.3% | 3.4% |
| Net income | 1.85 | 1.75 | 1.15 | 0.86 | 0.61 | 0.49 | 0.33 | 0.33 | 0.03 | 0.03 |
| 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 |
| Free cash flow | 2.23 | 1.88 | 1.73 | 1.45 | 1.20 | 0.96 | 0.72 | 0.59 | 0.46 | 0.28 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open FTNT in Markets.
How Fortinet makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Product | $765M | 36.8% |
| Security Subscription | $754M | 36.3% |
| Technical Support & Other | $560M | 26.9% |
See also: FTNT valuation and P/E history · FTNT returns
No forecast, no recommendation. This page describes Fortinet Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.