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Fortinet FTNT Product — Total Revenue

Other product segments

Security subscription
$694M+11.4%
Technical support and other
$510.5M+11.6%

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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$109.85B+43.7%
Enterprise value$108.19B+46.4%
P/E56.2×+15.5×
P/S15.5×+3.0×

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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 revenue?
Fortinet (FTNT) reported product — total revenue of $645.1M in Q1 2026.
How has Fortinet's product — total revenue changed year-over-year?
Fortinet's product — total revenue increased by 40.5% year-over-year, from $459.1M to $645.1M.
What is the long-term trend for Fortinet's product — total revenue?
Over 4 years (2021 to 2025), Fortinet's product — total revenue has grown at a 15.3% compound annual growth rate (CAGR), from $1.26B to $2.22B.
What does product — total revenue mean?
This metric represents the total revenue generated from the sale of hardware appliances and perpetual software licenses. It serves as a primary indicator of new customer acquisition and the initial expansion of the security infrastructure footprint within the client base. This revenue stream is distinct from recurring service and subscription contracts.