Stocks Technology FTNT
NASDAQ · TechnologyFortinet, Inc. (FTNT)
Fortinet, Inc. brought in $7.9B of revenue over the twelve months to September 30, 2026, up 20.2% from a year earlier. Net income was $2.3B, a net margin of 29.0%. Operating cash flow minus capital spending left $2.2B of free cash flow in fiscal 2025. At September 30, 2026 it held $3.8B in cash against $497.1M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 30, 2026.
Key facts about Fortinet, Inc.
- Net worth
- Fortinet, Inc. has a market value (market cap) of $90.7B at the latest share price, and shareholders' equity of $2.2B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $6.8B (+14.2% year on year), with net income of $1.9B. Over the 12 months to September 30, 2026: revenue $7.9B, net income $2.3B.
- Cash flow
- In fiscal 2025 operations brought in $2.6B of cash; after $364.8M of capital spending, free cash flow was $2.2B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 30, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Fortinet, Inc.'s next report is expected around February 4, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Fortinet, Inc. does
Fortinet develops and sells cybersecurity hardware, software, and cloud subscription services. Its core products include physical firewalls, intrusion prevention systems, and endpoint security software. Enterprises, government agencies, and telecom providers buy these products to protect their networks. Its shares trade on NASDAQ under the ticker FTNT.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $6.8B | $1.9B | $2.42 | $2.2B |
| 2024 | $6B | $1.7B | $2.26 | $1.9B |
| 2023 | $5.3B | $1.1B | $1.46 | $1.7B |
| 2022 | $4.4B | $857.3M | $1.06 | $1.4B |
| 2021 | $3.3B | $606.8M | $0.73 | $1.2B |
| 2020 | $2.6B | $488.5M | $0.58 | $957.8M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where FTNT ranks in Technology
Latest SEC filings
What Fortinet, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 30, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 20% to $2.1B versus the same quarter last year; diluted EPS $0.86 versus $0.62.
- October 28, 2026
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 26% to $2B versus the same quarter last year; diluted EPS $0.82 versus $0.57.
- July 29, 2026
- June 16, 2026
- May 27, 2026
- May 8, 2026Quarterly report 10-Q · period to March 31, 2026Revenue rose 20% to $1.8B versus the same quarter last year; diluted EPS $0.72 versus $0.56.
- May 6, 2026
- April 29, 2026Passive stake (5% or more) SCHEDULE 13G
- April 29, 2026
What is FTNT worth? A DCF from its reported cash flow
Insider trades
What the people running Fortinet, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $30.7M worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 621 | $78.3K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 400 | $51K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 400 | $51.7K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 1,100 | $143.7K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 300 | $39.4K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 200 | $26.6K |
| November 2, 2026 | Xie MichaelVP, Engineering & CTO, Director | Soldpre-planned (10b5-1) | 100 | $13.4K |
| November 2, 2026 | Xie KenPresident & CEO, Director | Exercised options | 155,000 | $3.5M |
Who owns FTNT
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 6.21% | April 29, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 1,574 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 62,242,221 | +273,488 |
| Vanguard Capital Management LLC | 40,663,961 | +909,183 |
| State Street Corp | 29,630,652 | +701,017 |
| Vanguard Portfolio Management LLC | 24,844,685 | -193,002 |
| Invesco Ltd. | 24,621,016 | -913,516 |
| Geode Capital Management, LLC | 17,439,799 | -21,978 |
| Norges Bank | 12,449,356 | new |
| First Trust Advisors LP | 10,815,814 | -690,359 |
| Arrowstreet Capital, Limited Partnership | 10,127,342 | +476,318 |
| Bank of New York Mellon Corp | 9,327,182 | -4,005,901 |
| Aqr Capital Management LLC | 8,673,742 | +901,797 |
| Morgan Stanley | 8,561,672 | -282,646 |
| Goldman Sachs Group Inc | 8,101,402 | -875,561 |
| Nordea Investment Management AB | 6,782,111 | -131,605 |
| Legal & General Group Plc | 6,373,269 | -104,422 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 6,312,496 | -1,241,700 |
| Northern Trust Corp | 6,279,098 | +57,262 |
| Jpmorgan Chase & Co | 4,989,587 | +257,031 |
| Charles Schwab Investment Management Inc | 4,967,178 | +280,857 |
| D. E. Shaw & Co., Inc. | 4,849,811 | +1,982,474 |
Insiders
11 insiders reported holding 73,165,629 shares in total, about $9.04B at the last price.
| Holder | Shares |
|---|---|
| Xie KenPresident & CEO, Director | 52,972,372 |
| Xie MichaelVP, Engineering & CTO, Director | 19,837,2209,918,860 held indirectly |
| Sim JudithDirector | 130,001 |
| Whittle JohnChief Operating Officer | 99,250 |
| Goldman Kenneth ADirector | 43,17819,250 held indirectly |
| Hu Jean X.Director | 39,508 |
| Stavridis James G.Director | 17,648 |
| Ohlgart ChristianeChief Financial Officer | 11,204 |
| Hsieh MingDirector | 10,056 |
| Napolitano JanetDirector | 4,733 |
Questions about FTNT
What does Fortinet, Inc. do?
Fortinet develops and sells cybersecurity hardware, software, and cloud subscription services. Its core products include physical firewalls, intrusion prevention systems, and endpoint security software. Enterprises, government agencies, and telecom providers buy these products to protect their networks. Its shares trade on NASDAQ under the ticker FTNT.
What is Fortinet, Inc.'s net worth?
Fortinet, Inc. has a market value (market cap) of $90.7B at the latest share price, and shareholders' equity of $2.2B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Fortinet, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $2.3B on revenue of $7.9B, a net margin of 29.0%.
How much revenue does Fortinet, Inc. make?
Over the twelve months to September 30, 2026 Fortinet, Inc. reported revenue of $7.9B. That is 20.2% more than a year earlier.
When did Fortinet, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 30, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the insider trade from November 3, 2026.
When is Fortinet, Inc.'s next earnings report?
Fortinet, Inc.'s next report is expected around February 4, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Fortinet, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.