Fortinet, Inc. (FTNT) Fundamentals — Income, Balance Sheet & Cash Flow | MarketCI

Fortinet, Inc. (FTNT) Fundamentals — Income, Balance Sheet & Cash Flow | MarketCI | MarketCI

FTNT

Market Closed

Fortinet, Inc.

NASDAQTechnology Software - Infrastructure

14.56K employees

CEO: Ken Xie

Founded: 2009

$144.73

+$0.00(+NaN%)

Market Cap

106.04B

Beta

1.11

52W Range

N/A

Dividend Yield

0.00%

Overview Forecasts Fundamental Market Sentiment Valuation Ownership

Financial Statements

Comprehensive breakdown of financial statements and performance metrics

Gross Margin

80.8%

14.6%

CAGR: 21.1%

Profit after direct costs

Operating Margin

30.6%

15.4%

CAGR: 33.8%

Core business profitability

Net Margin

27.3%

6.2%

CAGR: 32.2%

Bottom line profitability

Revenue Growth

14.2%

YoY

CAGR: 19.4%

Top line growth rate

Revenue Flow Analysis

Visual flow showing how FTNT allocates revenue across expenses and profit

Fiscal Year 2025

Revenue Distribution

Flow of revenue through cost categories to net income

Gross Margin

80.8%

$5.50B

Operating Margin

30.6%

$2.08B

Net Margin

27.3%

$1.85B

Detailed Income Statement

Complete profit and loss breakdown with margin analysis and historical comparison

Item	2021	2022	2023	2024	2025	YoY Change
Total Revenue	3.34B	4.42B	5.30B	5.96B	6.80B	14.2%
Cost of Revenue	(783.00M)	(1.08B)	(1.24B)	(1.16B)	(1.30B)	12.5%
Gross Profit	2.56B	3.33B	4.07B	4.80B	5.50B	14.6%
Operating Expenses
Research & Development	(424.20M)	(512.40M)	(613.80M)	(716.80M)	(815.50M)	13.8%
Selling, General & Administrative	(1.49B)	(1.86B)	(2.22B)	(2.28B)	(2.58B)	13.1%
General & Administrative	(143.50M)	(169.00M)	(211.30M)	(237.80M)	(233.40M)	-1.9%
Selling & Marketing	(1.35B)	(1.69B)	(2.01B)	(2.04B)	(2.35B)	14.8%
Depreciation & Amortization	(84.40M)	(104.30M)	(113.40M)	(122.80M)	(152.00M)	23.8%
Operating Income (EBIT)	650.40M	969.60M	1.24B	1.80B	2.08B	15.4%
Non-Operating Items
Interest Income	4.50M	17.40M	119.70M	155.20M	162.30M	4.6%
Interest Expense	(14.90M)	(18.00M)	(21.00M)	(20.00M)	(20.10M)	0.5%
Other Income/Expenses (Net)	-29.60M	-82.20M	50.50M	225.70M	210.50M	-6.7%
Income Before Tax	620.80M	887.40M	1.29B	2.03B	2.29B	13.0%
Income Tax Expense	(14.10M)	(30.80M)	(143.80M)	(283.90M)	(439.10M)	54.7%
Net Income	606.80M	857.30M	1.15B	1.75B	1.85B	6.2%
Per Share Metrics
Earnings Per Share (Basic)	$1	$1	$1	$2	$2	7.0%
Weighted Avg Shares Outstanding	816.00M	791.40M	778.60M	764.40M	743.10M	-2.8%
Weighted Avg Shares Outstanding (Diluted)	835.50M	805.30M	788.20M	771.90M	748.00M	-3.1%
EBITDA	727.70M	1.08B	1.47B	2.20B	2.46B	12.0%

Explore FTNT

Overview

Key metrics and AI-powered insights

Forecast

Price targets and earnings estimates

Fundamentals

Income, balance sheet and cash flow

Valuation

P/E, DCF and valuation multiples

Ownership

Institutional and insider holdings

Sentiment

Analyst ratings and news sentiment

FTNT in the Technology

Large Cap

Technology

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Software - Infrastructure

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