Fortinet Financial Statements
NASDAQ: FTNTTechnologyComputer peripheral equipmentUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Fortinet revenue and earnings
In fiscal 2025, Fortinet generated $6.80 billion in revenue, up 14.2% from fiscal 2024, its 16th consecutive year of revenue growth. Net income was $1.85 billion (+6.2% year over year), for a net margin of 27.3% versus a median of 19.4% in the prior 5 years. Gross margin was 80.5% (down from 80.6%) and operating margin 30.7%.
Diluted earnings per share came in at $2.42, up from $2.26. Over the last 5 fiscal years, FTNT's revenue has grown at a 21.3% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Fortinet income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.80B | 5.96B | 5.30B | 4.42B | 3.34B | 2.59B | 2.16B | 1.80B | 1.49B | 1.28B |
| Revenue growth (YoY) | +14.17% | +12.27% | +20.09% | +32.17% | +28.82% | +19.94% | +19.86% | +20.72% | +17.21% | +26.37% |
| Cost of Revenue | 1.33B | 1.16B | 1.24B | 1.08B | 783.00M | 570.00M | 505.90M | 450.40M | 385.30M | 337.80M |
| Gross Profit | 5.47B | 4.80B | 4.07B | 3.33B | 2.56B | 2.02B | 1.66B | 1.35B | 1.11B | 937.60M |
| Operating Expenses | 3.39B | 2.99B | 2.83B | 2.36B | 1.91B | 1.49B | 1.31B | 1.12B | 999.80M | 894.70M |
| Research & Development | 815.50M | 716.80M | 613.80M | 512.40M | 424.20M | 341.40M | 277.10M | 244.50M | 210.60M | 183.10M |
| Selling, General & Admin | 2.58B | 2.28B | 2.22B | 1.86B | 1.49B | 1.19B | 1.03B | 875.30M | 788.90M | 707.60M |
| Operating Income | 2.08B | 1.80B | 1.24B | 969.60M | 650.40M | 531.80M | 351.00M | 234.40M | 109.80M | 42.90M |
| Interest Expense | 20.10M | 20.00M | 21.00M | 18.00M | 14.90M | 0 | 0 | — | — | — |
| Other Income (Expense) | 55.30M | 119.90M | -6.10M | -13.50M | -11.60M | -7.80M | -7.50M | -6.60M | 700.00K | -7.10M |
| Pretax Income | 2.28B | 2.06B | 1.33B | 955.50M | 628.40M | 541.70M | 386.00M | 254.30M | 124.00M | 43.10M |
| Income Tax | 439.10M | 283.90M | 143.80M | 30.80M | 14.10M | 53.20M | 54.30M | -80.60M | 92.60M | 10.90M |
| Net Income | 1.85B | 1.75B | 1.15B | 857.30M | 606.80M | 488.50M | 331.70M | 334.90M | 31.40M | 32.20M |
| Net Income growth (YoY) | +6.20% | +52.05% | +33.89% | +41.28% | +24.22% | +47.27% | -0.96% | +966.56% | -2.48% | +303.16% |
| EPS (Basic) | 2.45 | 2.28 | 1.47 | 1.08 | 0.74 | 0.60 | 1.94 | 1.98 | 0.18 | 0.19 |
| EPS (Diluted) | 2.42 | 2.26 | 1.46 | 1.06 | 0.73 | 0.58 | 1.90 | 1.92 | 0.18 | 0.18 |
| Shares Outstanding (Basic) | 758.00M | 764.40M | 778.60M | 791.40M | 816.10M | 821.00M | 171.00M | 169.10M | 174.30M | 172.60M |
| Shares Outstanding (Diluted) | 764.60M | 771.90M | 788.20M | 805.30M | 835.30M | 838.30M | 175.00M | 174.20M | 178.10M | 176.30M |
| EBITDA | 2.24B | 1.93B | 1.35B | 1.07B | 734.80M | 600.60M | 412.60M | 290.10M | 165.30M | 91.40M |
| Gross Margin | 80.46% | 80.56% | 76.68% | 75.44% | 76.57% | 78.03% | 76.61% | 75.04% | 74.23% | 73.51% |
| Operating Margin | 30.66% | 30.28% | 23.40% | 21.95% | 19.46% | 20.50% | 16.23% | 12.99% | 7.34% | 3.36% |
| Net Margin | 27.26% | 29.30% | 21.64% | 19.41% | 18.16% | 18.83% | 15.34% | 18.56% | 2.10% | 2.52% |
This table shows 10 annual periods of Fortinet's income statement, from FY 2025 back to FY 2016, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow FTNT's reporting calendar. What is a income statement?