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Fortinet Business Segments

Business, geographic, and product segment breakdowns

Fortinet generates $7.1B in annual revenue across 2 key segments: Product ($208.3M), and Service ($156.2M). The company-wide operating margin is 31.1%. Based on the Q1 2026 filing.

Product$208.3MService$156.2M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$106.28B
P/E Ratio54.38
ROE132.39%

Products & Services

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product$1.3B$1.2B$1.3B$1.4B$1.5B$1.5B
Service$1.3B$1.2B$1.3B$1.4B$1.5B$1.5B

Total Cost of Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product$314.5M$293.1M$314.9M$331.7M$389.2M$364.5M
Service$314.5M$293.1M$314.9M$331.7M$389.2M$364.5M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Security subscription$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
Technical support and other$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B

Deferred revenue recognized in period

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service—$972.5M$876.8M$759.2M—$1.1B

Geographic

PROPERTY AND EQUIPMENT—NET

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
APAC$1.3B$1.4B$1.5B$1.6B$1.6B$1.7B
Canada$1.3B$1.4B$1.5B$1.6B$1.6B$1.7B
EMEA$1.3B$1.4B$1.5B$1.6B$1.6B$1.7B
Latin America$1.3B$1.4B$1.5B$1.6B$1.6B$1.7B
United States$1.3B$1.4B$1.5B$1.6B$1.6B$1.7B

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
APAC$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
EMEA$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
Other Americas$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
United States$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B

Area of real estate property

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sunnyvale, California—————5.30

Cash payments to purchase real estate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sunnyvale, California—$66.5M$167.8M$87.7M—$70.6M

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total Revenue$1.7B$1.5B$1.6B$1.7B$1.9B$1.8B
Net Income$526.2M$433.4M$440.1M$473.9M$506M$534.5M
Other sales and marketing expense$422.8M$439.7M$483.7M$469.2M$508.3M$514.8M
R&D$191.1M$198.6M$209.5M$202.4M$205M$214M
PROVISION FOR INCOME TAXES$86.7M$96.5M$77.1M$120.7M$144.8M$122M
Commission expense$103.7M$103M$108.3M$114.3M$121M$121.5M
Segment Reporting, Other Segment Item, Amount$420.6M-$82.4M-$60.5M-$48.7M$409.8M-$77.9M
G&A$55.1M$57.8M$56.9M$61.4M$57.3M$56.2M