Financials in USD. Standardized financial statements.
A compact view of how Fortinet, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $6.80B | $5.96B | $5.30B | $4.42B | $3.34B | $2.59B | $2.16B | $1.80B | $1.49B | $1.28B |
| Revenue Growth? | +14.2% | +12.3% | +20.1% | +32.2% | +28.8% | +19.9% | +19.9% | +20.7% | +17.2% | 0.0% |
| Cost of Revenue? | $1.30B | $1.16B | $1.24B | $1.08B | $783.00M | $570.00M | $505.90M | $450.40M | $385.30M | $337.80M |
| Gross Profit? | $5.50B | $4.80B | $4.07B | $3.33B | $2.56B | $2.02B | $1.66B | $1.35B | $1.11B | $937.60M |
| Gross Margin? | +80.8% | +80.6% | +76.7% | +75.4% | +76.6% | +78.0% | +76.6% | +75.0% | +74.2% | +73.5% |
| Operating Expenses? | $3.42B | $2.99B | $2.83B | $2.36B | $1.91B | $1.49B | $1.31B | $1.12B | $999.80M | $894.70M |
| Operating Income? | $2.08B | $1.80B | $1.24B | $969.60M | $650.40M | $531.80M | $351.00M | $234.40M | $109.80M | $42.90M |
| EBITDA? | $2.46B | $2.20B | $1.47B | $1.08B | $727.70M | $610.50M | $447.60M | $290.10M | $165.60M | $95.40M |
| Income Before Tax | $2.29B | $2.03B | $1.29B | $887.40M | $620.80M | $541.70M | $386.00M | $254.30M | $124.00M | $43.10M |
| Income Tax Expense | $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 |
| EPS? | $2.44 | $2.28 | $1.47 | $1.08 | $0.74 | $0.60 | $0.39 | $0.39 | $0.04 | $0.04 |
| Diluted EPS? | $2.43 | $2.26 | $1.46 | $1.06 | $0.73 | $0.58 | $0.38 | $0.38 | $0.04 | $0.04 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality