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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	322.9%-1.0pp	324%-0.1pp	324.1%+1.2pp	322.9%+3.2pp	319.7%+4.2pp
Operating margin	123.7%-0.4pp	124.1%+0.4pp	123.7%+2.7pp	120.9%+4.7pp	116.2%+7.6pp
Net margin	113.9%-3.1pp	117%-2.0pp	119.1%+1.8pp	117.3%+6.9pp	110.4%+8.4pp
Returns
Return on equity	661.3%—	——	——	——	——
Efficiency
Asset turnover	2.8×0.0×	2.8×0.0×	2.8×0.0×	2.8×0.0×	2.8×-0.1×
Liquidity
Current ratio	4.7×-0.2×	4.9×-0.3×	5.2×-0.3×	5.5×0.0×	5.5×+0.2×
Leverage
Debt-to-equity	3.4×0.0×	3.4×+0.1×	3.3×+0.3×	3×-3.2×	6.2×—
Net debt / EBITDA	-2.8×+0.5×	-3.4×+0.3×	-3.7×+0.4×	-4.1×-0.4×	-3.7×-0.6×
Per Share
Book value per share	$6.58-15.4%	$7.78-3.9%	$8.09-2.5%	$8.31+38.1%	$6.01+81.8%
Valuation
Market capitalization	$263.87B-4.9%	$277.43B-4.6%	$290.79B+1.8%	$285.59B+13.5%	$251.62B+9.6%
Price / earnings	138.4×-8.5×	146.8×-9.6×	156.5×-4.3×	160.8×+6.2×	154.6×-4.0×
Price / sales	39.6×-3.5×	43.2×-3.5×	46.6×-0.5×	47.2×+4.3×	42.9×+2.4×
Price / book	235.3×+23.4×	211.9×-0.8×	212.6×+22.4×	190.2×-121×	310.9×—
EV / EBITDA	116.8×-9.8×	126.5×-10.9×	137.4×-4.2×	141.7×+8.4×	133.3×-1.9×

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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.