Fortinet Financial Ratios
NASDAQ: FTNTTechnologyComputer peripheral equipmentUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Fortinet ratio analysis
Fortinet earned a net margin of 27.3% in FY 2025, down from 29.3% a year earlier. Gross margin was 80.5% compared with a median of 76.6% over the prior 9 years. Return on equity reached 149.8%, meaning Fortinet generated 1.50 dollars of profit for every dollar of shareholders' equity, an unusually high figure that often reflects a small equity base after share buybacks.
Debt-to-equity stood at 0.81 versus 0.67 the year before, and the current ratio was 1.17. At the end of FY 2025, FTNT traded at 32.2 times earnings; across the 10 fiscal years shown, its year-end P/E ranged from 7.0 to 98.5, with a median of 41.6. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Fortinet financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 32.18 | 43.13 | 40.09 | 46.12 | 98.47 | 51.22 | 11.71 | 6.97 | 48.54 | 33.47 |
| Price / sales | 8.68 | 12.51 | 8.59 | 8.76 | 17.55 | 9.40 | 1.76 | 1.25 | 1.02 | 0.82 |
| Price / book | 47.70 | 49.88 | — | — | 75.04 | 28.49 | 2.83 | 2.21 | 2.53 | 1.24 |
| Gross margin | 80.5% | 80.6% | 76.7% | 75.4% | 76.6% | 78.0% | 76.6% | 75.0% | 74.2% | 73.5% |
| Operating margin | 30.7% | 30.3% | 23.4% | 21.9% | 19.5% | 20.5% | 16.2% | 13.0% | 7.3% | 3.4% |
| Net margin | 27.3% | 29.3% | 21.6% | 19.4% | 18.2% | 18.8% | 15.3% | 18.6% | 2.1% | 2.5% |
| Free cash flow margin | 32.7% | 31.6% | 32.6% | 32.8% | 36.0% | 36.9% | 33.1% | 32.5% | 30.7% | 21.8% |
| Return on equity (ROE) | 149.8% | 116.8% | — | — | 77.6% | 57.1% | 24.7% | 32.7% | 5.2% | 3.8% |
| Return on assets (ROA) | 17.8% | 17.9% | 15.8% | 13.8% | 10.3% | 12.1% | 8.6% | 10.9% | 1.4% | 1.5% |
| Debt / equity | 0.81 | 0.67 | — | — | 1.26 | 0.00 | — | — | — | — |
| Current ratio | 1.17 | 1.47 | 1.19 | 1.24 | 1.55 | 1.50 | 1.90 | 1.77 | 1.67 | 1.86 |
| Revenue growth | 14.2% | 12.3% | 20.1% | 32.2% | 28.8% | 19.9% | 19.9% | 20.7% | 17.2% | 26.4% |
| EPS growth | 7.1% | 54.8% | 37.7% | 45.2% | 25.9% | -69.5% | -1.0% | 966.7% | 0.0% | 260.0% |