Income StatementBalance SheetCash FlowSegments
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Fortinet Business Segments

Business, geographic, and product segment breakdowns

Fortinet generates $7.1B in annual revenue across 2 key segments: Product ($783.8M), and Service ($616.5M). The company-wide operating margin is 31.1%. Based on the Q1 2026 filing.

Product (TTM)$783.8MService (TTM)$616.5M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$79.0B
P/E Ratio40.44
ROE132.39%

Products & Services

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service$949.6M$937.4M$972.1M$1.0B$1.1B$1.0B
Product$396.0M$309.2M$343.0M$378.6M$462.2M$436.8M

Total Cost of Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product$178.0M$149.9M$165.9M$180.7M$228.9M$208.3M
Service$136.5M$143.2M$149.0M$151.0M$160.3M$156.2M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Security Subscription$625.3M$623.1M$644.4M$672.0M$693.7M$694.0M
Technical Supportand Other$460.8M$457.5M$476.7M$493.6M$520.2M$510.5M

Deferred revenue recognized in period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service—$972.5M$876.8M$759.2M—$1.1B

Geographic

PROPERTY AND EQUIPMENT—NET

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
EMEA$73.3M$129.3M$145.2M$199.7M$211.3M$211.4M
APAC$61.5M$62.8M$69.7M$69.7M$72.8M$72.7M
Latin America$4.4M$2.4M$4.1M$5.3M$4.9M$4.4M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
EMEA—$628.4M$667.1M$713.7M—$784.8M
APAC—$281.5M$304.1M$330.7M—$325.0M
Other Americas$184.9M$174.4M$185.8M$193.9M$216.8M$213.3M

Area of real estate property

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sunnyvale, California—————5.30

Cash payments to purchase real estate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sunnyvale, California—————$47.0M

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total Revenue$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
Net Income$526.2M$433.4M$440.1M$473.9M$506.0M$534.5M
Other sales and marketing expense$422.8M$439.7M$483.7M$469.2M$508.3M$514.8M
R&D$191.1M$198.6M$209.5M$202.4M$205.0M$214.0M
PROVISION FOR INCOME TAXES$86.7M$96.5M$77.1M$120.7M$144.8M$122.0M
Commission expense$103.7M$103.0M$108.3M$114.3M$121.0M$121.5M
Segment Reporting, Other Segment Item, Amount-$40.0M-$82.4M-$60.5M-$48.7M$409.8M-$77.9M
G&A$55.1M$57.8M$56.9M$61.4M$57.3M$56.2M