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Fortinet FTNT Service — Gross Profit

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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:GrossProfit.

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 — gross profit?
Fortinet (FTNT) reported service — gross profit of $1.05B in Q1 2026.
How has Fortinet's service — gross profit changed year-over-year?
Fortinet's service — gross profit increased by 11.8% year-over-year, from $937.4M to $1.05B.
What is the long-term trend for Fortinet's service — gross profit?
Over 4 years (2021 to 2025), Fortinet's service — gross profit has grown at a 22.1% compound annual growth rate (CAGR), from $1.79B to $3.98B.
What does service — gross profit mean?
This metric is the difference between total service revenue and the direct costs associated with delivering those services. It measures the profitability of the service segment and the company's ability to manage its cost of delivery while scaling its subscription base.