Fortinet, Inc.

Fortinet, Inc.

FTNT
Fortinet, Inc.US flagNASDAQ Global Select
146.30
USD
+1.24
- -
107.19BMarket Cap
Fortinet, Inc.
FTNT
(NASDAQ Global Select)

Recent

price

146.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.46
0.57
0.68
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
Revenue per Share
0.06
0.08
0.08
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
Basic EPS, GAAP
0.14
0.17
0.2
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
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-0.03
0.06
0.14
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
Book Value per Share
0.33
0.47
0.64
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
Tangible Book Value per Share
704
763
790
812
819
852
863
872
846
855
821
816
791
779
764
758
751
Basic Weighted Avg Shares
325
434
534
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
Sales/Revenue/Turnover
17.04
20.5
18.83
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
Operating Margin (%)
6
7
12
16
22
32
48
56
56
62
69
84
104
113
123
152
156
Depreciation Expense
41
62
67
44
25
8
32
31
335
332
488
607
857
1,148
1,745
1,853
1,954
Net Income, GAAP
26.79
32.13
36.34
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
Effective Tax Rate (%)
12.7
14.41
12.52
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
Profit Margin (%)
202
257
250
322
509
592
709
690
964
1,313
911
1,282
732
709
1,911
866
709
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
988
990
992
994
497
497
LT Debt
232
358
511
586
676
755
838
589
1,010
1,342
856
798
-282
-463
1,494
1,238
990
Total Equity
21.61
20.44
14.7
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 Invested Capital (%)
-105.01
494.61
86.42
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 Capital (%)
- -
- -
86.42
38.04
21.49
8.75
60.5
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

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
- -
- -
- -
- -
- -
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.

Company News

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