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Fortinet FTNT Interest coverage

Interest coverage at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
9.7×+2.8×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
-7.8×-1.0×
Zscaler logo
ZscalerZS
-13.5×+3.6×
Akamai Technologies logo
Akamai TechnologiesAKAM
16.3×-2.9×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
-21.8×-3.8×
Fortive logo
FortiveFTV
6.2×+1.0×

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$106.04B-18.3%
Enterprise value$104.38B-17.7%
P/E54.3×-14.8×
P/S14.9×-6.2×

Profitability

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Gross margin80.3%-1.0pp
Operating margin31.1%-0.4pp
Net margin27.5%-3.1pp

Returns & leverage

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Return on equity132.4%
Debt / equity0.6×0.0×
Current ratio1.2×-0.2×

Where this comes from

Calculated from Fortinet’s reported figures.

Based on trailing twelve months.

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 interest coverage?
Fortinet (FTNT) reported interest coverage of 114× in Q1 2026.
How has Fortinet's interest coverage changed year-over-year?
Fortinet's interest coverage increased by 16.6% year-over-year, from 97.8× to 114×.
What is the long-term trend for Fortinet's interest coverage?
Over 4 years (2021 to 2025), Fortinet's interest coverage has grown at a -10.0% compound annual growth rate (CAGR), from 612.1× to 401.1×.
What does interest coverage mean?
How many times the company's operating profit covers its interest bill.
How do you interpret interest coverage?
Higher is safer; below ~2× is a warning that earnings provide little cushion against the debt burden. Debt-free companies have no interest expense and the ratio is left blank.
How does interest coverage compare across companies?
Comparable across leveraged non-financials; less relevant for net-cash companies with negligible interest.