Fortinet, Inc.

FTNTNASDAQ

$172.79

Last price · USD

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

Fortinet, Inc. income statement

Annual · USD millions except per-share data · 29 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Revenue & gross profit
Revenue	6,800	5,956	5,305	4,417	3,342	+19.4%
Cost of revenue	1,303	1,158	1,237	1,085	783	+13.6%
Gross profit	5,497	4,798	4,068	3,333	2,559	+21.1%
Operating expenses & income
Research & development	816	717	614	512	424	+17.8%
General & administrative	233	238	211	169	144	+12.9%
Selling & marketing	2,348	2,045	2,006	1,686	1,346	+14.9%
SG&A (combined)	2,581	2,283	2,217	1,855	1,489	+14.7%
Total operating expenses	3,416	2,995	2,827	2,363	1,909	+15.7%
Cost and expenses	4,719	4,152	4,064	3,448	2,692	+15.1%
Operating income	2,082	1,803	1,241	970	650	+33.8%
Non-operating & other
Interest income	162	155	120	17	5	+145.1%
Interest expense	20	20	21	18	15	+7.8%
Net interest income	142	135	99	(1)	(10)	—
Non-operating income (excl. interest)	(231)	(275)	(114)	(4)	7	—
Other expenses	20	(5)	(5)	(5)	(5)	—
Total other income (expenses), net	210	226	51	(82)	(30)	—
Profitability
Depreciation & amortization	152	123	113	104	84	+15.8%
Income before tax	2,292	2,029	1,292	887	621	+38.6%
Income tax expense	439	284	144	31	14	+136.2%
Net income from continuing operations	1,853	1,745	1,148	857	607	+32.2%
Net income deductions	0	0	0	1	0	—
Net income	1,853	1,745	1,148	857	607	+32.2%
Bottom line net income	1,853	1,745	1,148	857	607	+32.2%
Additional fields
Ebit	2,313	2,079	1,355	974	643	+37.7%
Ebitda	2,465	2,201	1,468	1,078	728	+35.7%
Eps	$2.44	$2.28	$1.47	$1.08	$0.74	+34.8%
Eps Diluted	$2.43	$2.26	$1.46	$1.06	$0.73	+35.1%
Weighted Average Shs Out	743	764	779	791	816	-2.3%
Weighted Average Shs Out Dil	748	772	788	805	836	-2.7%