What are Fortinet's profit margins?

Fortinet (FTNT) runs a 80.3% gross margin and a 31.1% operating margin, with a 27.5% net margin.

Where do Fortinet's ratios come from?

Every ratio is computed from Fortinet's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Fortinet FTNT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	80.3%-1.0pp	80.5%-0.1pp	80.9%+1.2pp	81.3%+3.2pp	81.3%+4.2pp
Operating margin	31.1%-0.4pp	30.7%+0.4pp	31%+2.7pp	30.9%+4.7pp	31.5%+7.6pp
Net margin	27.5%-3.1pp	27.3%-2.0pp	28.6%+1.8pp	30.6%+6.9pp	30.6%+8.4pp
Returns
Return on equity	132.4%—	135.7%—	228%-83.5pp	165.2%-266pp	——
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×-0.1×
Liquidity
Current ratio	1.2×-0.2×	1.2×-0.3×	1×-0.3×	1.3×0.0×	1.4×+0.2×
Leverage
Debt-to-equity	0.6×0.0×	0.9×+0.1×	1.5×+0.3×	0.5×-3.2×	0.5×—
Net debt / EBITDA	-0.7×+0.5×	-0.6×+0.3×	-0.4×+0.4×	-1.1×-0.4×	-1.2×-0.6×
Per Share
Book value per share	$1.33-47.3%	$1.62-16.4%	$0.97-17.9%	$2.67+612%	$2.53+1,516%
Valuation
Market capitalization	$60.47B-18.3%	$59.05B-18.5%	$64.43B+8.8%	$79.92B+73.9%	$74.02B+42.1%
Price / earnings	30.9×-8.5×	31.9×-9.6×	34.4×-4.3×	41.2×+6.2×	39.4×-4.0×
Price / sales	8.5×-3.5×	8.7×-3.5×	9.8×-0.5×	12.6×+4.3×	12.1×+2.4×
Price / book	61.1×+23.4×	47.7×-0.8×	87.6×+22.4×	38.8×-121×	37.7×—
EV / EBITDA	24.8×-9.8×	25.8×-10.9×	29.1×-4.2×	37×+8.4×	34.6×-1.9×

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Fortinet.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What are Fortinet's profit margins?: Fortinet (FTNT) runs a 80.3% gross margin and a 31.1% operating margin, with a 27.5% net margin.
Where do Fortinet's ratios come from?: Every ratio is computed from Fortinet's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.