Fortinet, Inc. (FTNT) — Financial statements
Income statement, balance sheet, and cash flow for Fortinet, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 6,800↑14.2% | 5,956↑12.3% | 5,305↑20.1% | 4,417↑32.2% | 3,342 | |
| Cost of Revenue | 1,303↑12.5% | 1,158↓6.4% | 1,237↑14.0% | 1,085↑38.6% | 783 | |
| Gross Profit | 5,497↑14.6% | 4,798↑18.0% | 4,068↑22.1% | 3,333↑30.2% | 2,559 | |
| Operating Expenses | ||||||
| R&D Expenses | 816↑13.8% | 717↑16.8% | 614↑19.8% | 512↑20.8% | 424 | |
| General & Administrative Expenses | 233↓1.9% | 238↑12.5% | 211↑25.0% | 169↑17.8% | 144 | |
| Selling & Marketing Expenses | 2,348↑14.8% | 2,045↑1.9% | 2,006↑19.0% | 1,686↑25.3% | 1,346 | |
| SG&A Expenses | 2,581↑13.1% | 2,283↑2.9% | 2,217↑19.5% | 1,855↑24.6% | 1,489 | |
| Other Expenses | 20↑534.8% | -5↑0.0% | -5↑0.0% | -5↑0.0% | -5 | |
| Operating Expenses | 3,416↑14.1% | 2,995↑6.0% | 2,827↑19.6% | 2,363↑23.8% | 1,909 | |
| Total Costs & Expenses | 4,719↑13.6% | 4,152↑2.2% | 4,064↑17.9% | 3,448↑28.1% | 2,692 | |
| Operating Results | ||||||
| Operating Income | 2,082↑15.4% | 1,803↑45.3% | 1,241↑28.0% | 970↑49.1% | 650 | |
| Depreciation & Amortization | 152↑23.8% | 123↑8.3% | 113↑8.7% | 104↑23.6% | 84 | |
| EBITDA | 2,465↑12.0% | 2,201↑49.9% | 1,468↑36.2% | 1,078↑48.1% | 728 | |
| EBIT | 2,313↑11.3% | 2,079↑53.4% | 1,355↑39.2% | 974↑51.3% | 643 | |
| Interest & Other Income | ||||||
| Net Interest Income | 142↑5.2% | 135↑37.0% | 99↑16550.0% | -0.60↑94.2% | -10 | |
| Interest Income | 162↑4.6% | 155↑29.7% | 120↑587.9% | 17↑286.7% | 5 | |
| Interest Expense | 20↑0.5% | 20↓4.8% | 21↑16.7% | 18↑20.8% | 15 | |
| Non-Operating Income | -231↑16.2% | -275↓142.2% | -114↓2812.8% | -4↓154.9% | 7 | |
| Other Income / Expenses | 210↓6.7% | 226↑346.9% | 51↑161.4% | -82↓177.7% | -30 | |
| Income Before Tax | 2,292↑13.0% | 2,029↑57.1% | 1,292↑45.5% | 887↑42.9% | 621 | |
| Income Tax Expense | 439↑54.7% | 284↑97.4% | 144↑366.9% | 31↑118.4% | 14 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 1,853↑6.2% | 1,745↑52.0% | 1,148↑34.0% | 857↑41.2% | 607 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 1,853↑6.2% | 1,745↑52.0% | 1,148↑33.9% | 857↑41.3% | 607 | |
| Bottom-Line Net Income | 1,853↑6.2% | 1,745↑52.0% | 1,148↑34.0% | 857↑41.2% | 607 | |
| EPS (Basic) | 2.44↑7.0% | 2.28↑55.1% | 1.47↑36.1% | 1.08↑45.9% | 0.74 | |
| EPS (Diluted) | 2.43↑7.5% | 2.26↑54.8% | 1.46↑37.7% | 1.06↑45.2% | 0.73 | |
| Weighted Average Shares | 743↓2.8% | 764↓1.8% | 779↓1.6% | 791↓3.0% | 816 | |
| Weighted Average Diluted Shares | 748↓3.1% | 772↓2.1% | 788↓2.1% | 805↓3.6% | 836 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.