Fortinet (FTNT): financials, SEC filings and peers
Fortinet (FTNT) is a systems software company in the Information Technology sector of the S&P 500, headquartered in Sunnyvale, California.
It was founded in 2000 and joined the S&P 500 on October 11, 2018.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Computer Peripheral Equipment, NEC”.
Fortinet at a glance
- Revenue (12 months)
- $7.5B
- Revenue growth
- +18.8%
- Operating margin
- 32.4%
- Net income (12 months)
- $2.1B
- Free cash flow (12 months)
- $3.1B
- Cash
- $2.9B
- Debt
- $497M
- Diluted EPS (12 months)
- $2.83
Twelve months to June 30, 2026, from the 10-Q filed July 30, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Fortinet reported revenue of $7.5 billion, up 18.8% from a year earlier.
Its operating margin was 32.4%, up 1.6 percentage points from a year earlier: for every $100 of sales, about $32 was left as operating profit.
Net income was $2.1 billion (28.2% of revenue), 9.3% higher than a year earlier.
Operating cash flow was $3.4 billion and capital spending $279 million, leaving free cash flow of $3.1 billion (41.4% of revenue).
At the end of the period it held $2.9 billion in cash and $497 million in debt, a net cash position of $2.4 billion.
The diluted share count fell 4.2% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $2.6 billion in fiscal 2020 to $6.8 billion in fiscal 2025, about 21.3% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin widened from 20.5% to 30.7% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $3.3B | $4.4B | $5.3B | $6.0B | $6.8B |
| Revenue growth | 28.8% | 32.2% | 20.1% | 12.3% | 14.2% |
| Operating margin | 19.5% | 21.9% | 23.4% | 30.3% | 30.7% |
| Net income | $607M | $857M | $1.1B | $1.7B | $1.9B |
| Free cash flow | $1.2B | $1.4B | $1.7B | $1.9B | $2.2B |
| Diluted EPS | $0.73 | $1.06 | $1.46 | $2.26 | $2.42 |
Fiscal years as reported in Fortinet’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed July 30, 2026 — quarterly report
- 8-K filed July 29, 2026 — Earnings results
- 8-K filed June 16, 2026 — Shareholder vote results
- 10-Q filed May 8, 2026 — quarterly report
- 8-K filed May 6, 2026 — Earnings results
- 10-K filed February 25, 2026 — annual report
- 8-K filed February 5, 2026 — Earnings results
Companies like Fortinet
Other S&P 500 companies in Systems Software:
- CRWDCrowdStrikeAustin, Texas
- GENGen DigitalTempe, Arizona
- MSFTMicrosoftRedmond, Washington
- NOWServiceNowSanta Clara, California
- PANWPalo Alto NetworksSanta Clara, California
More from Information Technology
Questions about Fortinet
Is Fortinet's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $7.5 billion, up 18.8% from a year earlier, according to its SEC filings.
Is Fortinet profitable?
Yes. It earned $2.1 billion in net income over the twelve months to June 30, 2026, a net margin of 28.2%.
Does Fortinet have more cash or more debt?
At June 30, 2026 it had $2.9 billion in cash and $497 million in debt, so more cash than debt.
When did Fortinet last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on July 30, 2026.
Which companies are similar to Fortinet?
In the S&P 500, Fortinet is grouped in Systems Software within the Information Technology sector. CrowdStrike (CRWD), Gen Digital (GEN), Microsoft (MSFT), ServiceNow (NOW), Palo Alto Networks (PANW) are in the same group.
Understand the numbers
Source: Fortinet’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.