← Fortinet, Inc. FTNT
Market Price
$159.97
Market Cap
$121.23B
P/E Ratio
66.10
Revenue (FY 2025)
↑14.2% YoY
$6.80B
3-Yr CAGR: 15.5%
Net Income
↑6.2% YoY
$1.85B
Net Margin: 27.3%
Free Cash Flow
↑18.4% YoY
$2.23B
FCF Yield: 1.84%
EPS (Diluted)
↑7.1% YoY
$2.42
Basic: $2.45
Return on Equity
Efficiency
149.8%
ROA: 816.5%
⚡ Elevated ROE due to low book equity from buybacks
📊 Multi-Year Historical Performance & Trends
Financial Performance History
Revenue, Net Income & Free Cash Flow
Margins Trend (%)
Gross, Operating & Net Margins
Balance Sheet Strength
Cash, Debt & Equity
Cash Flow Generation
Operating Cash Flow vs CapEx vs FCF
📈 Year-over-Year (YoY) Growth History (FTNT)
All monetary values in millions ($M)| Fiscal Year | Revenue | Revenue YoY | Gross Profit | Net Income | Net Inc YoY | Diluted EPS | EPS YoY | Op. Cash Flow | Free Cash Flow | FCF YoY |
|---|---|---|---|---|---|---|---|---|---|---|
| FY 2016 | $1,275.4M | — | $937.6M | $32.2M | — | $0.04 | — | $345.7M | $278.5M | — |
| FY 2017 | $1,494.9M | +17.2% | $1,109.6M | $31.4M | -2.4% | $0.04 | 0.0% | $594.4M | $459.1M | +64.8% |
| FY 2018 | $1,801.2M | +20.5% | $1,350.8M | $332.2M | +958.0% | $0.38 | +961.1% | $638.9M | $585.9M | +27.6% |
| FY 2019 | $2,156.2M | +19.7% | $1,650.3M | $326.5M | -1.7% | $0.37 | -2.1% | $808.0M | $715.8M | +22.2% |
| FY 2020 | $2,594.4M | +20.3% | $2,024.4M | $488.5M | +49.6% | $0.58 | +55.6% | $1,083.7M | $957.8M | +33.8% |
| FY 2021 | $3,342.2M | +28.8% | $2,559.2M | $606.8M | +24.2% | $0.73 | +24.7% | $1,499.7M | $1,203.8M | +25.7% |
| FY 2022 | $4,417.4M | +32.2% | $3,332.5M | $857.3M | +41.3% | $1.06 | +46.0% | $1,730.6M | $1,449.4M | +20.4% |
| FY 2023 | $5,304.8M | +20.1% | $4,067.6M | $1,147.8M | +33.9% | $1.46 | +37.7% | $1,935.5M | $1,731.4M | +19.5% |
| FY 2024 | $5,955.8M | +12.3% | $4,798.2M | $1,745.2M | +52.0% | $2.26 | +54.8% | $2,258.1M | $1,879.2M | +8.5% |
| FY 2025 | $6,799.6M | +14.2% | $5,470.7M | $1,853.4M | +6.2% | $2.42 | +7.1% | $2,590.6M | $2,225.8M | +18.4% |
Valuation
Market Price
$159.97
Market Cap
$121.23B
Enterprise Value
$119.73B
P/E Ratio
66.10
P/B Ratio
94.71
FCF Yield
1.84%
Dividend Yield
N/A
Shares Outstanding
Profitability & Margins
Gross Margin
80.46%
Operating Margin
30.66%
Net Margin
27.26%
Return on Equity (ROE)
149.77%
Return on Assets (ROA)
816.48%
Asset Turnover
29.95x
Revenue 3-Yr CAGR
15.46%
Financial Health & Liquidity
Current Ratio
0.64
Cash Ratio
7.04
Debt / Equity
0.805
Debt / Assets
4.389
Cash & Equivalents
$2.50B
Total Debt
$996.30M
Book Value / Share
$1.69
Cash Flow Efficiency
Operating Cash Flow
$2.59B
Capital Expenditures (CapEx)
$364.80M
Free Cash Flow
$2.23B
OCF / Revenue
38.10%
FCF / Revenue
32.73%
FCF 3-Yr CAGR
15.37%
Per Share Metrics
EPS (Diluted)
$2.42
EPS (Basic)
$2.45
Dividends / Share
N/A
Book Value / Share
$1.69
EPS YoY Growth
7.08%
Balance Sheet (FY 2025)
Total Assets
$227.00M
Total Liabilities
$354.60M
Stockholders' Equity
$1.24B
Current Assets
$227.00M
Current Liabilities
$354.60M