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Fortinet FTNT Service — 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$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: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 service — total cost of revenue?
Fortinet (FTNT) reported service — total cost of revenue of $156.2M in Q1 2026.
How has Fortinet's service — total cost of revenue changed year-over-year?
Fortinet's service — total cost of revenue increased by 9.1% year-over-year, from $143.2M to $156.2M.
What is the long-term trend for Fortinet's service — total cost of revenue?
Over 4 years (2021 to 2025), Fortinet's service — total cost of revenue has grown at a 19.6% compound annual growth rate (CAGR), from $295.3M to $603.5M.
What does service — total cost of revenue mean?
This metric captures the direct costs associated with delivering service and subscription offerings, including cloud infrastructure hosting, customer support personnel, and technical service delivery expenses. Monitoring these costs is essential for evaluating the scalability and operational efficiency of the service-based business model.