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%-0.2pp	80.5%-0.4pp	80.9%-0.4pp	81.3%-0.1pp	81.3%+0.8pp
Operating margin	31.1%+0.4pp	30.7%-0.4pp	31%+0.1pp	30.9%-0.6pp	31.5%+1.2pp
Net margin	27.5%+0.2pp	27.3%-1.3pp	28.6%-2.0pp	30.6%0.0pp	30.6%+1.3pp
Returns
Return on equity	132.4%-3.3pp	135.7%-92.3pp	228%+62.9pp	165.2%—	——
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Liquidity
Current ratio	1.2×0.0×	1.2×+0.1×	1×-0.3×	1.3×0.0×	1.4×-0.1×
Leverage
Debt-to-equity	0.6×-0.3×	0.9×-0.6×	1.5×+1.0×	0.5×0.0×	0.5×-0.2×
Net debt / EBITDA	-0.7×-0.1×	-0.6×-0.2×	-0.4×+0.7×	-1.1×+0.1×	-1.2×-0.3×
Per Share
Book value per share	$1.33-17.7%	$1.62+67.6%	$0.97-63.8%	$2.67+5.5%	$2.53+30.6%
Valuation
Market capitalization	$60.47B+2.4%	$59.05B-8.3%	$64.43B-19.4%	$79.92B+8.0%	$74.02B+2.2%
Price / earnings	30.9×-0.9×	31.9×-2.5×	34.4×-6.8×	41.2×+1.8×	39.4×-2.1×
Price / sales	8.5×-0.2×	8.7×-1.1×	9.8×-2.8×	12.6×+0.6×	12.1×-0.1×
Price / book	61.1×+13.4×	47.7×-39.9×	87.6×+48.9×	38.8×+1.1×	37.7×-10.8×
EV / EBITDA	24.8×-0.9×	25.8×-3.4×	29.1×-7.9×	37×+2.4×	34.6×-2.1×

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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.