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Fortinet FTNT Q3 2025 earnings

Reported November 5, 2025 · After market close

Revenue$1.7BBeat by $20.6M
EPS$0.74Beat by $0.11
Revenue estimate$1.7B
EPS estimate$0.63

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$2.1B
EPS estimate$0.86

Financials

Q3 2025

Income statement

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Revenue$1.7B+14.4%
Gross profit$1.4B+11.9%
Operating income$547.3M+16.2%
Net income$473.9M-12.2%
EPS (diluted)$0.62-11.4%

Balance sheet

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Cash & equivalents$2.0B-19.8%
Total debt$1.1B+1.1%
Total equity$735.1M-19.1%
Total assets$9.4B+5.8%

Cash flow

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Operating cash flow$655.2M+7.7%
CapEx$87.7M+142%
Free cash flow$567.5M-0.8%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$64.43B+8.8%
Enterprise value$63.52B+9.9%
P/E34.4×-4.3×
P/S9.8×-0.5×

Profitability

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Gross margin80.9%+1.2pp
Operating margin31%+2.7pp
Net margin28.6%+1.8pp
FCF margin30.9%+1.8pp

Returns & leverage

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Return on equity228%-83.5pp
Debt / equity1.5×+0.3×
Current ratio1×-0.3×

Segments

By product

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Security subscription$672.0M+12.8%
Technical support and other$493.6M+12.6%

By segment

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Reportable Segment$1.7B+14.4%

By geography

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Other Americas$193.9M+14.8%

FAQ

When did Fortinet report Q3 2025 earnings?
Fortinet (FTNT) reported Q3 2025 earnings on November 5, 2025 after market close.
What were Fortinet's Q3 2025 revenue and EPS?
Fortinet reported revenue of $1.7B and eps of $0.74 for Q3 2025.
Did Fortinet beat estimates in Q3 2025?
Revenue beat the consensus estimate of $1.7B by $20.6M. EPS beat the consensus estimate of $0.63 by $0.11.
How did Fortinet's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.4% from $1.5B a year earlier and eps grew 17.5% from $0.63.
Where can I find Fortinet's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001262039-25-000036) and the 10-Q periodic report (0001262039-25-000039) directly on SEC EDGAR. The filing index links above go to sec.gov.