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Fortinet FTNT Service — Deferred revenue recognized in period

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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:ContractWithCustomerLiabilityRevenueRecognized.

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 service — deferred revenue recognized in period?
Fortinet (FTNT) reported service — deferred revenue recognized in period of $1.09B in Q1 2026.
How has Fortinet's service — deferred revenue recognized in period changed year-over-year?
Fortinet's service — deferred revenue recognized in period increased by 12.1% year-over-year, from $972.5M to $1.09B.
What does service — deferred revenue recognized in period mean?
This metric represents the portion of previously billed subscription or service contracts that is recognized as revenue during the current reporting period. It reflects the conversion of the company's backlog into realized income, providing insight into the health of the existing customer base and the timing of revenue recognition.