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Fortinet FTNT Free cash flow

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Other financials

Income statement

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Revenue$2.0B+25.6%
Gross profit$1.6B+24.9%
Operating income$689.3M+50.5%
Net income$606.3M+37.8%
EPS (diluted)$0.82+43.9%

Balance sheet

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Cash & equivalents$2.9B-12.9%
Total debt$496.9M-54.4%
Total equity$1.6B-24.7%
Total assets$10.9B+2.0%

Cash flow

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Operating cash flow$1.0B+131%
CapEx$78.0M-53.5%

Valuation

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Market cap$115.59B+93.1%
Enterprise value$113.15B+96.5%
P/E54.5×+23.6×
P/S15.4×+5.9×

Profitability

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Gross margin80.2%-1.1pp
Operating margin32.4%+1.6pp
Net margin28.2%-2.4pp
FCF margin41.4%+9.3pp

Returns & leverage

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Return on equity117.4%-47.7pp
Debt / equity0.3×-0.2×
Current ratio1.3×0.0×

Where this comes from

Calculated from Fortinet’s reported figures.

The source filing: Fortinet’s 8-K, filed July 29, 2026. Open the filing →

Filed
Jul 29, 2026, 4:08 PM EDT
Accession
0001262039-26-000018

FAQ

What is Fortinet's free cash flow?
Fortinet (FTNT) reported free cash flow of $965.6M in Q2 2026.
How has Fortinet's free cash flow changed year-over-year?
Fortinet's free cash flow increased by 239.9% year-over-year, from $284.1M to $965.6M.
What is the long-term trend for Fortinet's free cash flow?
Over 4 years (2021 to 2025), Fortinet's free cash flow has grown at a 16.6% compound annual growth rate (CAGR), from $1.2B to $2.23B.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

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