Fortinet, Inc. (FTNT) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
FTNT's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
FTNT Revenue Analysis (2014–2025)
As of February 28, 2026, Fortinet, Inc. (FTNT) generated trailing twelve-month (TTM) revenue of $6.80 billion, reflecting strong growth of +14.8% year-over-year. The most recent quarter (Q4 2025) recorded $1.91 billion in revenue, up 10.4% sequentially.
Looking at the longer-term picture, FTNT's 5-year compound annual growth rate (CAGR) stands at +21.3%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $6.80 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows FTNT's business is primarily driven by Security Subscription (39%), Product (32%), and Technical Support and Other (29%).
When compared to Technology sector peers including PANW (+15.4% YoY), CRWD (+22.0% YoY), and ZS (+23.9% YoY), FTNT has underperformed the peer group in terms of revenue growth. Compare FTNT vs PANW →
Peer Comparison
Compare FTNT's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FTNTCurrent | $6.8B | +14.8% | +21.3% | 30.6% | |
| PANW | $9.2B | +15.4% | +22.0% | 13.5% | |
| CRWD | $4.0B | +22.0% | +52.4% | -3.0% | |
| ZS | $2.7B | +23.9% | +44.0% | -4.8% | |
| CYBR | $1.4B | +36.0% | +24.0% | -7.7% | |
| CHKP | $2.6B | +6.3% | +5.2% | 34.2% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $6.80B | +14.2% | $5.50B | 80.8% | $2.08B | 30.6% |
| 2024 | $5.96B | +12.3% | $4.80B | 80.6% | $1.80B | 30.3% |
| 2023 | $5.30B | +20.1% | $4.07B | 76.7% | $1.24B | 23.4% |
| 2022 | $4.42B | +32.2% | $3.33B | 75.4% | $969.6M | 21.9% |
| 2021 | $3.34B | +28.8% | $2.56B | 76.6% | $650.4M | 19.5% |
| 2020 | $2.59B | +19.9% | $2.02B | 78.0% | $531.8M | 20.5% |
| 2019 | $2.16B | +19.9% | $1.66B | 76.6% | $351.0M | 16.2% |
| 2018 | $1.80B | +20.7% | $1.35B | 75.0% | $234.4M | 13.0% |
| 2017 | $1.49B | +17.2% | $1.11B | 74.2% | $109.8M | 7.3% |
| 2016 | $1.28B | +26.4% | $937.6M | 73.5% | $42.9M | 3.4% |
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Start ComparisonFrequently Asked Questions
Is FTNT's revenue growth accelerating or slowing?
FTNT maintains +14.8% revenue growth, in line with its 5-year CAGR of +21.3%. TTM revenue stands at $6.8B. Growth rate remains consistent with historical average.
What is FTNT's long-term revenue growth rate?
Fortinet, Inc.'s 5-year revenue CAGR of +21.3% reflects the sustained expansion pattern. Current YoY growth of +14.8% is near this long-term average.
How is FTNT's revenue distributed by segment?
FTNT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.