What is Fortinet's change in AR?

Fortinet (FTNT) reported change in AR of -$205.2M in Q1 2026.

How has Fortinet's change in AR changed year-over-year?

Fortinet's change in AR increased by 32.5% year-over-year, from -$303.9M to -$205.2M.

What is the long-term trend for Fortinet's change in AR?

Over 4 years (2021 to 2025), Fortinet's change in AR has grown at a 31.4% compound annual growth rate (CAGR), from $72.5M to $215.9M.

What does change in AR mean?

Increase or decrease in amounts owed by customers — the primary working capital driver for many businesses.

Fortinet FTNT Change in AR

Change in AR at other companies

MicrosoftMSFT

$4.71B+91.3%

Cisco Systems, Inc.CSCO

-$133M+69.6%

F5, Inc.FFIV

$79.41M-19.1%

Netscout SystemsNTCT

-$83.01M-62.6%

Extreme NetworksEXTR

$10.39M—

Palo Alto Networks, Inc.PANW

-$1.62B-9.2%

Other financials

Income statement

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Revenue$1.8B+20.1%

Gross profit$1.5B+19.1%

Operating income$580.0M+27.8%

Net income$534.5M+23.3%

EPS (diluted)$0.72+28.6%

Balance sheet

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Cash & equivalents$2.2B-38.2%

Total debt$567.2M-47.3%

Total equity$989.7M-49.6%

Total assets$9.9B-5.0%

Cash flow

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Operating cash flow$1.1B+24.8%

CapEx$70.6M+6.2%

Free cash flow$1.0B+26.3%

Valuation

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Market cap$106.44B+43.7%

Enterprise value$104.78B+46.4%

P/E54.5×+15.1×

P/S15×+2.9×

Profitability

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Gross margin80.3%-1.0pp

Operating margin31.1%-0.4pp

Net margin27.5%-3.1pp

FCF margin34.3%+0.6pp

Returns & leverage

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Return on equity132.4%—

Debt / equity0.6×0.0×

Current ratio1.2×-0.2×

Where this comes from

Reported directly by Fortinet in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInAccountsReceivable.

The official record: Fortinet’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fortinet's change in AR?: Fortinet (FTNT) reported change in AR of -$205.2M in Q1 2026.
How has Fortinet's change in AR changed year-over-year?: Fortinet's change in AR increased by 32.5% year-over-year, from -$303.9M to -$205.2M.
What is the long-term trend for Fortinet's change in AR?: Over 4 years (2021 to 2025), Fortinet's change in AR has grown at a 31.4% compound annual growth rate (CAGR), from $72.5M to $215.9M.
What does change in AR mean?: Increase or decrease in amounts owed by customers — the primary working capital driver for many businesses.