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Fortinet FTNT Product — Total Cost of Revenue

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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$106.44B+43.7%
Enterprise value$104.78B+46.4%
P/E54.5×+15.1×
P/S15×+2.9×

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

Reported directly by Fortinet in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

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 product — total cost of revenue?
Fortinet (FTNT) reported product — total cost of revenue of $208.3M in Q1 2026.
How has Fortinet's product — total cost of revenue changed year-over-year?
Fortinet's product — total cost of revenue increased by 39.0% year-over-year, from $149.9M to $208.3M.
What is the long-term trend for Fortinet's product — total cost of revenue?
Over 4 years (2021 to 2025), Fortinet's product — total cost of revenue has grown at a 10.4% compound annual growth rate (CAGR), from $487.7M to $725.4M.
What does product — total cost of revenue mean?
This metric captures the direct costs associated with manufacturing, shipping, and fulfilling hardware products and perpetual software licenses. It includes components, assembly, logistics, and the amortization of capitalized software development costs related to the product segment. Monitoring this helps assess the efficiency of the supply chain and manufacturing operations.