Income StatementBalance SheetCash FlowSegments
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Fortinet Income Statement

Revenue, expenses, and profitability over time

Fortinet generated $7.1B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $2.0B with a 27.49% net margin. Gross margin stands at 80.3% and operating margin at 31.1%. Diluted EPS is $2.58, which grew 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$7.1BGross Profit (TTM)$5.7BOperating Income (TTM)$2.2BNet Income (TTM)$2.0BEps Diluted (TTM)$2.58
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$79.0B
P/E Ratio40.44
ROE132.39%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.68$0.56$0.57$0.63$0.69$0.72
Diluted earnings per share$0.68$0.56$0.57$0.62$0.67$0.72
Weighted-average shares, basic—768.3M765.5M755.5M—738.8M
Weighted-average shares, diluted—776.8M772.7M761.2M—742.8M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments-$5.5M$10.6M-$100.0K-$200.0K$0.0-$100.0K
Net Interest and Investment Income (Loss)$42.3M$44.3M$45.0M$40.7M$32.3M$32.9M
Interest expense$4.9M$4.9M$4.6M$6.2M$4.4M$4.2M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General and administrative$55.1M$57.8M$56.9M$61.4M$57.3M$56.2M
Research and development$191.1M$198.6M$209.5M$202.4M$205.0M$214.0M
Selling and marketing$526.5M$542.7M$592.0M$583.5M$629.3M$636.3M
Total operating expenses$771.5M$792.8M$857.1M$845.9M$890.2M$905.1M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.3B$1.2B$1.3B$1.4B$1.5B$1.5B
Operating income$574.1M$453.8M$458.0M$547.3M$625.6M$580.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$618.4M$519.3M$517.3M$594.8M$650.8M$656.6M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$86.7M$96.5M$77.1M$120.7M$144.8M$122.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$526.2M$433.4M$440.1M$473.9M$506.0M$534.5M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$314.5M$293.1M$314.9M$331.7M$389.2M$364.5M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (Loss) From Mutual Covenant-Not-To-Sue Agreement, Right To Use Existing Intellectual Property$1.2M$6.3M$1.3M$1.4M$1.4M$1.4M
Other income, net (Note 6)$6.9M$26.1M$18.9M$13.0M$0.0$47.9M