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Income Statement
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Balance Sheet
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Cashflow Statement
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Profitability
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Ratios
Fortinet's Income Statement
| Chart | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|
| Revenue |
|
$3.34 B | $4.42 B | $5.30 B | $5.96 B | $6.80 B |
| Cost of Revenue |
|
$783.00 M | $1.08 B | $1.24 B | $1.16 B | $1.30 B |
| Gross Profit |
|
$2.56 B | $3.33 B | $4.07 B | $4.80 B | $5.50 B |
| Research & Development |
|
$424.20 M | $512.40 M | $613.80 M | $716.80 M | $815.50 M |
| Selling,General & Administrative |
|
$1.49 B | $1.86 B | $2.22 B | $2.28 B | $2.58 B |
| Operating Expense |
|
$1.91 B | $2.36 B | $2.83 B | $2.99 B | $3.42 B |
| Operating Income |
|
$650.40 M | $969.60 M | $1.24 B | $1.80 B | $2.08 B |
| Net Income |
|
$606.80 M | $857.30 M | $1.15 B | $1.75 B | $1.85 B |
Fortinet's Assets vs Liabilities & Equity
Fortinet's Balance Sheet
| Chart | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents |
|
$2.55 B | $2.21 B | $2.44 B | $4.07 B | $3.58 B |
| Inventories |
|
$175.80 M | $264.60 M | $484.80 M | $315.50 M | $399.50 M |
| Total Current Assets |
|
$3.60 B | $3.81 B | $4.43 B | $5.97 B | $5.90 B |
| Property,Plant and Equipment |
|
$687.60 M | $898.50 M | $1.04 B | $1.35 B | $1.62 B |
| Goodwill |
|
$125.10 M | $128.00 M | $126.50 M | $235.40 M | $354.70 M |
| Total Assets |
|
$5.92 B | $6.23 B | $7.26 B | $9.76 B | $10.39 B |
| Total Liabilities |
|
$5.12 B | $6.51 B | $7.72 B | $8.27 B | $9.15 B |
| Retained Earnings |
|
-$467.90 M | -$1.55 B | -$1.86 B | -$117.10 M | -$507.90 M |
| Total Shareholder Equity |
|
$781.70 M | -$281.60 M | -$463.40 M | $1.49 B | $1.24 B |
| Common Stock |
|
$800.00 K | $800.00 K | $800.00 K | $800.00 K | $700.00 K |
Fortinet's Cash flow
| Chart | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|
| Depreciation & Amortization |
|
$84.40 M | $104.30 M | $113.40 M | $122.80 M | $336.30 M |
| Dividends Payout |
|
- | - | - | - | - |
| Capital Expenditures (Capex) |
|
-$295.90 M | -$281.20 M | -$204.10 M | -$378.90 M | -$364.80 M |
| Free Cash Flow (FCF) |
|
$1.20 B | $1.45 B | $1.73 B | $1.88 B | $2.23 B |
Fortinet's Profitability
| Chart | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|
| Gross Profit |
|
$2.56 B | $3.33 B | $4.07 B | $4.80 B | $5.50 B |
| Gross Profit Margin (%) |
|
76.57% | 75.44% | 76.68% | 80.56% | 80.84% |
| Operating Income |
|
$650.40 M | $969.60 M | $1.24 B | $1.80 B | $2.08 B |
| Operating Income Margin (%) |
|
19.46% | 21.95% | 23.40% | 30.28% | 30.62% |
| Net Income |
|
$606.80 M | $857.30 M | $1.15 B | $1.75 B | $1.85 B |
| Net Income Margin (%) |
|
18.16% | 19.41% | 21.64% | 29.30% | 27.26% |
| EBITDA |
|
$727.70 M | $1.08 B | $1.47 B | $2.20 B | $2.42 B |
| EBITDA Margin (%) |
|
21.77% | 24.40% | 27.67% | 36.96% | 36.25% |
Fortinet's Ratios
| Chart | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) |
|
77.63% | -304.44% | -247.69% | 116.83% | 149.77% |
| Return on Assets (ROA) |
|
10.25% | 13.77% | 15.81% | 17.88% | 17.84% |
| Debt to Equity |
|
126.44% | -351.70% | -214.13% | 66.56% | 80.51% |
| Debt to total asset |
|
16.70% | 15.90% | 13.67% | 10.18% | 9.59% |
| Enterprise value to revenue |
|
17.45 | 8.60 | 8.51 | 11.81 | 8.63 |
| Enterprise value to EBITDA |
|
80.15 | 35.26 | 30.76 | 31.95 | 22.90 |
| Enterprise value |
|
$58.32 B | $38.00 B | $45.17 B | $70.34 B | $58.69 B |
| Tax Rate (%) |
|
2.27% | 3.47% | 11.13% | 13.99% | 19.15% |
Frequently Asked Questions
