Fortinet, Inc. (FTNT) stock
FTNTNasdaqComputer Peripheral Equipment, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 30, 2026Score 16/3011% above fair value
$129.54+1.44 (+1.12%)
Close on Nov 12, 2026Market cap $95.17BP/E 42.1Yield –
Fortinet operating margin
Operating margin is operating income as a percentage of revenue.
Fortinet's operating margin for the twelve months ending Sep 30, 2026 was 33.0%. For fiscal 2025 it was 30.7%, against 30.3% the year before. The highest annual figure on record is 30.7% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 30.7% | +0.4 |
| FY2024 | Dec 31, 2024 | 30.3% | +6.9 |
| FY2023 | Dec 31, 2023 | 23.4% | +1.4 |
| FY2022 | Dec 31, 2022 | 21.9% | +2.5 |
| FY2021 | Dec 31, 2021 | 19.5% | −1.0 |
| FY2020 | Dec 31, 2020 | 20.5% | +4.3 |
| FY2019 | Dec 31, 2019 | 16.2% | +3.2 |
| FY2018 | Dec 31, 2018 | 13.0% | +5.6 |
| FY2017 | Dec 31, 2017 | 7.3% | +4.0 |
| FY2016 | Dec 31, 2016 | 3.4% | +1.9 |
| FY2015 | Dec 31, 2015 | 1.5% | −6.2 |
| FY2014 | Dec 31, 2014 | 7.7% | −4.0 |
| FY2013 | Dec 31, 2013 | 11.7% | −7.1 |
| FY2012 | Dec 31, 2012 | 18.8% | −1.7 |
| FY2011 | Dec 31, 2011 | 20.5% | +3.5 |
| FY2010 | Dec 31, 2010 | 17.0% | +7.0 |
| FY2009 | Dec 31, 2009 | 10.0% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 33.9% | +2.2 |
| Q2 FY2026 | Jun 30, 2026 | 33.7% | +5.6 |
| Q1 FY2026 | Mar 31, 2026 | 31.4% | +1.9 |
| Q4 FY2025 | Dec 31, 2025 | 32.8% | −1.7 |
| Q3 FY2025 | Sep 30, 2025 | 31.7% | +0.5 |
| Q2 FY2025 | Jun 30, 2025 | 28.1% | −2.4 |
| Q1 FY2025 | Mar 31, 2025 | 29.5% | +5.7 |
| Q4 FY2024 | Dec 31, 2024 | 34.6% | +7.3 |
| Q3 FY2024 | Sep 30, 2024 | 31.2% | +8.5 |
| Q2 FY2024 | Jun 30, 2024 | 30.5% | +8.9 |
| Q1 FY2024 | Mar 31, 2024 | 23.7% | +2.1 |
| Q4 FY2023 | Dec 31, 2023 | 27.2% | −0.7 |
| Q3 FY2023 | Sep 30, 2023 | 22.7% | −0.4 |
| Q2 FY2023 | Jun 30, 2023 | 21.6% | +2.6 |
| Q1 FY2023 | Mar 31, 2023 | 21.7% | +5.9 |
| Q4 FY2022 | Dec 31, 2022 | 27.9% | +5.6 |
| Q3 FY2022 | Sep 30, 2022 | 23.1% | +3.9 |
| Q2 FY2022 | Jun 30, 2022 | 19.0% | +0.5 |
| Q1 FY2022 | Mar 31, 2022 | 15.8% | −1.3 |
| Q4 FY2021 | Dec 31, 2021 | 22.3% | −0.3 |
| Q3 FY2021 | Sep 30, 2021 | 19.2% | −0.3 |
| Q2 FY2021 | Jun 30, 2021 | 18.4% | −0.8 |
| Q1 FY2021 | Mar 31, 2021 | 17.1% | −3.1 |
| Q4 FY2020 | Dec 31, 2020 | 22.6% | +2.9 |
| Q3 FY2020 | Sep 30, 2020 | 19.5% | +1.1 |
| Q2 FY2020 | Jun 30, 2020 | 19.2% | +4.8 |
| Q1 FY2020 | Mar 31, 2020 | 20.2% | +9.5 |
| Q4 FY2019 | Dec 31, 2019 | 19.8% | +2.4 |
| Q3 FY2019 | Sep 30, 2019 | 18.4% | +4.5 |
| Q2 FY2019 | Jun 30, 2019 | 14.4% | +2.9 |
| Q1 FY2019 | Mar 31, 2019 | 10.7% | +2.6 |
| Q4 FY2018 | Dec 31, 2018 | 17.3% | +7.2 |
| Q3 FY2018 | Sep 30, 2018 | 13.8% | +4.8 |
| Q2 FY2018 | Jun 30, 2018 | 11.5% | +3.6 |
| Q1 FY2018 | Mar 31, 2018 | 8.1% | +6.5 |
| Q4 FY2017 | Dec 31, 2017 | 10.1% | −2.3 |
| Q3 FY2017 | Sep 30, 2017 | 9.0% | – |
| Q2 FY2017 | Jun 30, 2017 | 7.8% | – |
| Q1 FY2017 | Mar 31, 2017 | 1.6% | – |
| Q4 FY2016 | Dec 31, 2016 | 12.4% | – |
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