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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$106.04B-18.3%
Enterprise value$104.38B-17.7%
P/E54.3×-14.8×
P/S14.9×-6.2×

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

Calculated from Fortinet’s reported figures.

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 EBIT?
Fortinet (FTNT) reported EBIT of $580M in Q1 2026.
How has Fortinet's EBIT changed year-over-year?
Fortinet's EBIT increased by 27.8% year-over-year, from $453.8M to $580M.
What is the long-term trend for Fortinet's EBIT?
Over 4 years (2021 to 2025), Fortinet's EBIT has grown at a 33.8% compound annual growth rate (CAGR), from $650.4M to $2.08B.
What does EBIT mean?
Profit before interest and taxes — the business's core earning power.
How do you interpret EBIT?
Higher is better. Because it adds back interest, EBIT compares earning power across firms with very different debt loads — the base for interest coverage and the EV/EBIT multiple. For filers reporting operating income it equals that line, excluding non-operating swings.
How does EBIT compare across companies?
Comparable across companies regardless of leverage or tax domicile; the standard 'earning power' line for cross-company analysis. Least meaningful for banks and insurers.