What is Fortinet's R&D?

Fortinet (FTNT) reported R&D of $214M in Q1 2026.

How has Fortinet's R&D changed year-over-year?

Fortinet's R&D increased by 7.8% year-over-year, from $198.6M to $214M.

What is the long-term trend for Fortinet's R&D?

Over 4 years (2021 to 2025), Fortinet's R&D has grown at a 17.8% compound annual growth rate (CAGR), from $424.2M to $815.5M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Fortinet FTNT R&D

R&D at other companies

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$8.92B+8.7%

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$2.38B+1.8%

F5, Inc.FFIV

$151.04M+10.6%

Netscout SystemsNTCT

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Extreme NetworksEXTR

$59.18M+6.3%

NetgearNTGR

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Segments

By segment

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Reportable Segment$214M+7.8%

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:ResearchAndDevelopmentExpense.

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 R&D?: Fortinet (FTNT) reported R&D of $214M in Q1 2026.
How has Fortinet's R&D changed year-over-year?: Fortinet's R&D increased by 7.8% year-over-year, from $198.6M to $214M.
What is the long-term trend for Fortinet's R&D?: Over 4 years (2021 to 2025), Fortinet's R&D has grown at a 17.8% compound annual growth rate (CAGR), from $424.2M to $815.5M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.