Fortinet, Inc. (FTNT) Quarterly Income Statement

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Fortinet, Inc. (FTNT) quarterly income statement — complete revenue, gross profit & net income history

Quarterly statement

FTNT Income Statement

Fortinet, Inc. (FTNT) annual income statement — 19-year revenue, gross profit & net income history

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21

Sales/Revenue	2.05B	1.85B	1.91B	1.72B	1.63B	1.54B	1.66B	1.51B	1.43B	1.35B	1.42B	1.33B	1.29B	1.26B	1.28B	1.15B	1.03B	954.8M	963.6M	867.2M
Revenue Growth %	25.64%	20.13%	14.75%	14.38%	13.64%	13.77%	17.31%	13%	10.95%	7.21%	10.3%	16.1%	25.5%	32.21%	33.15%	32.55%	28.59%	34.42%	28.82%	33.19%
Cost of Goods Sold	404.7M	364.5M	389.2M	318.6M	301.7M	293.1M	314.5M	263.4M	275M	304.7M	315.9M	317.7M	295.8M	307.8M	297.3M	283M	250.8M	253.8M	228.3M	211.2M
COGS % of Revenue	19.76%	19.71%	20.43%	18.47%	18.51%	19.04%	18.94%	17.47%	19.17%	22.52%	22.32%	23.8%	22.88%	24.38%	23.17%	24.62%	24.35%	26.58%	23.69%	24.35%
Gross Profit	1.64B	1.49B	1.52B	1.41B	1.33B	1.25B	1.35B	1.24B	1.16B	1.05B	1.1B	1.02B	997M	954.5M	985.7M	866.5M	779.3M	701M	735.3M	656M
Gross Margin %	80.24%	80.29%	79.57%	81.53%	81.49%	80.96%	81.06%	82.53%	80.83%	77.48%	77.68%	76.2%	77.12%	75.62%	76.83%	75.38%	75.65%	73.42%	76.31%	75.65%
Gross Profit Growth %	23.71%	19.13%	12.65%	12.98%	14.58%	18.88%	22.42%	22.4%	16.28%	9.86%	11.51%	17.36%	27.94%	36.16%	34.05%	32.09%	26.88%	26.6%	26.56%	28.15%
Operating Expenses	953.9M	906.5M	891.6M	860.4M	871.6M	792.8M	771.5M	773.8M	722.1M	727.4M	713.8M	713.7M	718M	681M	627.9M	601M	584M	550M	520.4M	489.6M
OpEx % of Revenue	46.58%	49.01%	46.8%	49.88%	53.47%	51.49%	46.47%	51.31%	50.35%	53.75%	50.44%	53.48%	55.54%	53.95%	48.94%	52.28%	56.69%	57.6%	54.01%	56.46%
Selling, General & Admin	730.2M	692.5M	686.6M	644.9M	648.9M	600.5M	581.6M	587.6M	557.9M	555.5M	562.5M	557.9M	565.8M	531.1M	500.2M	467.8M	460.9M	426.2M	409M	382.9M
SG&A % of Revenue	35.66%	37.44%	36.04%	37.39%	39.81%	39%	35.03%	38.96%	38.9%	41.05%	39.75%	41.8%	43.77%	42.07%	38.99%	40.7%	44.74%	44.64%	42.45%	44.15%
Research & Development	225M	214M	205M	202.4M	209.5M	198.6M	191.1M	187.3M	165.4M	173M	152.5M	156.9M	153.3M	151.1M	128.9M	134.3M	124.3M	124.9M	112.6M	107.8M
R&D % of Revenue	10.99%	11.57%	10.76%	11.73%	12.85%	12.9%	11.51%	12.42%	11.53%	12.78%	10.78%	11.76%	11.86%	11.97%	10.05%	11.68%	12.07%	13.08%	11.69%	12.43%
Other Operating Expenses	-1000K	0	0	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Operating Income	689.3M	580M	625.6M	545.9M	456.7M	453.8M	574.1M	470.9M	437.2M	321.2M	385.4M	303.2M	279M	273.5M	357.8M	265.5M	195.3M	151M	214.9M	166.4M
Operating Margin %	33.66%	31.36%	32.84%	31.65%	28.02%	29.47%	34.58%	31.22%	30.48%	23.73%	27.23%	22.72%	21.58%	21.67%	27.89%	23.1%	18.96%	15.81%	22.3%	19.19%
Operating Income Growth %	50.93%	27.81%	8.97%	15.93%	4.46%	41.28%	48.96%	55.31%	56.7%	17.44%	7.71%	14.2%	42.86%	81.13%	66.5%	59.56%	32.41%	24.18%	26.86%	31.13%
EBITDA	730.7M	714M	665.1M	584.3M	495M	489.6M	609.3M	500.7M	466.4M	349.8M	415.6M	331.5M	306.4M	301M	385.1M	291.9M	220.4M	176.5M	240.2M	189.3M
EBITDA Margin %	35.68%	38.6%	34.91%	33.87%	30.37%	31.8%	36.7%	33.2%	32.52%	25.85%	29.37%	24.84%	23.7%	23.85%	30.02%	25.39%	21.4%	18.49%	24.93%	21.83%
EBITDA Growth %	47.62%	45.83%	9.16%	16.7%	6.13%	39.97%	46.61%	51.04%	52.22%	16.21%	7.92%	13.57%	39.02%	70.54%	60.32%	54.2%	32.45%	27.07%	29.07%	31.82%
D&A (Non-Cash Add-back)	41.4M	134M	39.5M	38.4M	38.3M	35.8M	35.2M	29.8M	29.2M	28.6M	30.2M	28.3M	27.4M	27.5M	27.3M	26.4M	25.1M	25.5M	25.3M	22.9M
EBIT	723.4M	660.8M	655.2M	600.8M	521.9M	524.2M	623.3M	631.4M	473.3M	350.5M	421M	333.2M	304.4M	296.1M	372.7M	269.2M	188.4M	143.2M	211.8M	161.3M
Net Interest Income	30M	28.7M	27.9M	34.5M	40.4M	39.4M	37.4M	37.4M	33.3M	27.1M	25.1M	31.6M	26.4M	15.6M	4.6M	100K	-2.1M	-3.2M	-3.5M	-3.4M
Interest Income	33.2M	32.9M	32.3M	40.7M	45M	44.3M	42.3M	42.4M	38.3M	32.2M	30.5M	37M	31.6M	20.6M	9.1M	4.6M	2.4M	1.3M	1M	1.2M
Interest Expense	3.2M	4.2M	4.4M	6.2M	4.6M	4.9M	4.9M	5M	5M	5.1M	5.4M	5.4M	5.2M	5M	4.5M	4.5M	4.5M	4.5M	4.5M	4.6M
Other Income/Expense	30.9M	76.6M	25.2M	48.7M	60.5M	76.1M	38.8M	150.2M	19.1M	17.6M	20.7M	19.4M	14.9M	-4.5M	-34.8M	-7.1M	-19.5M	-20.8M	-12.4M	-12.5M
Pretax Income	720.2M	656.6M	650.8M	594.6M	517.2M	529.9M	612.9M	621.1M	456.3M	338.8M	406.1M	322.6M	293.9M	269M	323M	258.4M	175.8M	130.2M	202.5M	153.9M
Pretax Margin %	35.17%	35.5%	34.16%	34.47%	31.73%	34.42%	36.92%	41.18%	31.81%	25.04%	28.7%	24.17%	22.73%	21.31%	25.18%	22.48%	17.07%	13.64%	21.01%	17.75%
Income Tax	115M	122M	144.8M	120.7M	77.1M	96.5M	86.7M	81.2M	76.5M	39.5M	95.2M	-300K	27.6M	21.3M	9.2M	27.3M	2.4M	-8.1M	3.7M	-9.3M
Effective Tax Rate %	15.97%	18.58%	22.25%	20.3%	14.91%	18.21%	14.15%	13.07%	16.77%	11.66%	23.44%	-0.09%	9.39%	7.92%	2.85%	10.57%	1.37%	-6.22%	1.83%	-6.04%
Net Income	606.3M	534.5M	506M	473.9M	440.1M	433.4M	526.2M	539.9M	379.8M	299.3M	310.9M	322.9M	266.3M	247.7M	313.8M	231.6M	173.5M	138.4M	199M	163.1M
Net Margin %	29.61%	28.9%	26.56%	27.47%	27%	28.15%	31.7%	35.8%	26.48%	22.12%	21.97%	24.19%	20.6%	19.62%	24.46%	20.15%	16.84%	14.5%	20.65%	18.81%
Net Income Growth %	37.76%	23.33%	-3.84%	-12.22%	15.88%	44.8%	69.25%	67.2%	42.62%	20.83%	-0.92%	39.42%	53.49%	78.97%	57.69%	42%	26.18%	29.1%	35.65%	32.17%
Net Income (Continuing)	605.2M	534.5M	506M	473.9M	440.1M	433.4M	526.2M	539.9M	379.8M	299.3M	310.9M	322.9M	266.3M	247.7M	313.8M	231.1M	173.4M	138.3M	198.8M	163.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11.9M	13.3M	15.5M	16.7M	17.5M
EPS (Diluted)	0.82	0.72	0.68	0.62	0.57	0.56	0.68	0.70	0.49	0.39	0.40	0.41	0.33	0.31	0.40	0.29	0.21	0.17	0.24	0.19
EPS Growth %	43.86%	28.57%	0%	-11.43%	16.33%	43.59%	70%	70.73%	48.48%	25.81%	0%	41.38%	57.14%	82.35%	66.67%	52.63%	31.25%	30.77%	33.33%	26.67%
EPS (Basic)	0.83	0.72	0.68	0.63	0.57	0.56	0.69	0.71	0.50	0.39	0.41	0.41	0.34	0.32	0.40	0.29	0.22	0.17	0.24	0.20
Diluted Shares Outstanding	741.3M	742.8M	748M	770.2M	774.8M	776.8M	775.2M	771.9M	769.9M	770.5M	772.3M	791.2M	795.9M	793.4M	791.8M	798.6M	810.1M	821M	835M	838.6M
Basic Shares Outstanding	735.9M	738.8M	743.1M	763.1M	766.9M	768.3M	766.5M	765M	763.8M	762.4M	764.9M	781.2M	785M	783.2M	780.9M	786.2M	795.4M	803.4M	815M	817.7M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-