Fortinet, Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 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
FTNT in the Technology
Large Cap