Information Technology · Systems Software
Fortinet: revenue, profit and cash flow
In fiscal 2025, Fortinet had revenue of $6.8B, up 21.0% a year on average since 2015, and net income of $1.85B (27.3% of revenue). It has 13% fewer shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2015 · +14.2% vs 2024
- Ticker
- FTNT · Nasdaq
- Sector
- Information Technology
- Sub-industry
- Systems Software
- Headquarters
- Sunnyvale, California
- Founded
- 2000
- In the S&P 500 since
- October 11, 2018
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- Fortinet, Inc. · CIK 0001262039
Revenue and net income
Revenue went from $252M in 2009 to $6.8B in 2025.
Diluted earnings per share
Diluted EPS went from $0.08 in 2009 to $2.42 in 2025. Ten-year growth: 73.1% a year.
Shares outstanding
13.2% fewer shares in 2025 than in 2015 (881M → 765M): buybacks outweighed new shares.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was $2.23B in 2025, 32.7% of revenue.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|
| 2025 | $6.8B | $1.85B | 27.3% | $2.42 | 765M | $2.59B | $365M | $2.23B |
| 2024 | $5.96B | $1.75B | 29.3% | $2.26 | 772M | $2.26B | $379M | $1.88B |
| 2023 | $5.3B | $1.15B | 21.6% | $1.46 | 788M | $1.94B | $204M | $1.73B |
| 2022 | $4.42B | $857M | 19.4% | $1.06 | 805M | $1.73B | $281M | $1.45B |
| 2021 | $3.34B | $607M | 18.2% | $0.73 | 835M | $1.5B | $296M | $1.2B |
| 2020 | $2.59B | $488M | 18.8% | $0.58 | 838M | $1.08B | $126M | $958M |
| 2019 | $2.16B | $332M | 15.3% | $0.38 | 875M | $808M | $92.2M | $716M |
| 2018 | $1.8B | $335M | 18.6% | $0.38 | 871M | $639M | $53M | $586M |
| 2017 | $1.49B | $31.4M | 2.1% | $0.04 | 890M | $594M | $135M | $459M |
| 2016 | $1.28B | $32.2M | 2.5% | $0.04 | 882M | $346M | $67.2M | $278M |
| 2015 | $1.01B | $7.99M | 0.8% | $0.01 | 881M | $283M | $37.4M | $245M |
| 2014 | $770M | $25.3M | 3.3% | $0.03 | 846M | $197M | $32.2M | $164M |
| 2013 | $615M | $44.3M | 7.2% | $0.05 | 841M | $147M | $13.9M | $134M |
| 2012 | $534M | $66.8M | 12.5% | $0.08 | 832M | $184M | $22.1M | $162M |
| 2011 | $434M | $62.5M | 14.4% | $0.08 | 819M | $133M | $3.62M | $129M |
| 2010 | $325M | $41.2M | 12.7% | $0.05 | 782M | $103M | $3.78M | $99.6M |
| 2009 | $252M | $60.2M | 23.9% | $0.08 | 652M | $62M | $4.59M | $57.4M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
Stock splits
Found in the filings; per-share figures and share counts on this page are on today’s share basis.
- 5-for-1 split · first reflected in a filing of August 5, 2022
About these figures
- No dividends per share in the filings data. Usually that means no dividend, but some companies report theirs in a form the data do not capture.
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Systems Software companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.