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Fortinet (FTNT)

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Fortinet, Inc. is a global cybersecurity company best known for its network security hardware, software, and subscription services. The company provides protection for enterprises, service providers, government agencies, and small and medium-sized businesses as they manage increasingly distributed IT environments. Its technology portfolio covers secure networking, firewall protection, cloud security, endpoint protection, zero-trust access, and security operations.

Fortinet’s flagship FortiGate firewalls and FortiOS operating system sit at the center of its Security Fabric platform, which is designed to connect multiple security tools into a unified architecture. This platform approach helps customers secure data centers, branch offices, cloud workloads, remote workers, and operational technology environments. The company also offers products for secure SD-WAN, intrusion prevention, email security, identity access, endpoint detection, and security information management.

A significant portion of Fortinet’s business comes from recurring subscriptions and support services, which are sold alongside appliances and software licenses. These services include threat intelligence, security updates, technical support, and advanced protection features. The mix of product sales and recurring security services gives Fortinet exposure to both infrastructure spending and long-term cybersecurity demand.

Headquartered in California, Fortinet serves a large global customer base and competes with other major cybersecurity vendors across network security, cloud security, and managed security markets. Its differentiation rests on high-performance security appliances, broad product integration, and a platform designed to reduce complexity for customers. Demand for Fortinet’s products is shaped by cyber threats, digital transformation, hybrid work, cloud adoption, and the need for enterprises to protect increasingly complex networks.

158.10 USD
157.00 USD
−2.26 (-1.41%)
After-hours

Last updated

Market Cap
$117,487,495,981
P/E
60.11
P/FCF
48.24
P/S
16.53
Enterprise Value
$115,760,495,981
Sector
Information Technology
Industry
Systems Software
Address
909 KIFER ROAD, SUNNYVALE, CA, 94086
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Market Cap
$117,487,495,981
Enterprise Value
$115,760,495,981
P/E
60.11
P/B
118.71
P/S
16.53
EV / EBITDA
42.75
EV / Sales
16.28
EPS
2.67
Dividend Yield
0%
P/FCF
48.24
P/CF
41.89
Free Cash Flow
$2,435,500,000
ROE
197.48%
ROA
19.78%
Debt / Equity
0.5
Current Ratio
1.15
Quick Ratio
1.07
Cash
0.48
Avg Volume
$6,052,803
Fundamentals Snapshot Price
160.36

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Revenue 1.85B 1.91B 1.72B 1.63B 1.54B
Cost of revenue 364.5M 389.2M 331.7M 314.9M 293.1M
Gross profit 1.49B 1.52B 1.39B 1.32B 1.25B
Operating income 578.6M 615.2M 547.3M 458M 447.5M
EBITDA 712.6M 745M 831.7M 418.3M 561.3M
Net income 534.5M 506M 473.9M 440.1M 433.4M
Income taxes 122M 144.8M 120.7M 77.1M 96.5M
Interest expense -4.2M -4.4M -6.2M -4.6M -4.9M
Other operating expenses 0 0 -1.4M -1.3M 0
Total operating expenses 906.5M 900.6M 845.9M 857.1M 799.1M
Basic EPS 0.72 0.68 0.63 0.57 0.56
Diluted EPS 0.72 0.67 0.62 0.57 0.56

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Total assets 9.88B 10.39B 9.36B 10.64B 10.41B
Total liabilities 8.89B 9.15B 8.63B 8.58B 8.44B
Total equity 989.7M 1.24B 735.1M 2.06B 1.96B
Cash & equivalents 2.22B 2.5B 2B 3.37B 3.6B
Current assets 5.33B 5.9B 4.91B 6.35B 6.44B
Current liabilities 4.62B 5.03B 4.79B 4.78B 4.73B
Accounts payable 238.7M 230.8M 221.3M 245.2M 224.5M
Receivables 1.49B 1.69B 1.17B 1.22B 1.17B
Inventories 369.6M 399.5M 426.6M 405.2M 362.7M
Goodwill 257.4M 257.4M 258.3M 258.9M 236.2M
Long-term debt 496.8M 496.6M 496.5M 496.3M 496.2M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Operating cash flow 1.08B 620.2M 655.2M 451.9M 863.3M
Investing cash flow -5.7M -46.3M -175.8M -266.2M -110.8M
Financing cash flow -1.34B -72.7M -1.85B -414.2M -32.7M
Change in cash -271.5M 499.6M -1.37B -228.1M 720.7M
Net income 534.5M 506M 473.9M 440.1M 433.4M
Kind Filing Date Link
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