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Fortinet FTNT

US equityMarket cap rank #117Software - InfrastructureCybersecurity
$179.66
+$0.92 (+0.51%)
Market open · Sep 24, 1:10 pm ET
After hours $178.96 +0.12%
Open$178.70
Prev close$178.74
Day range$176.78 – $181.36
Volume1.71M
Market cap$131.82B
P/E (TTM)63.5
Dividend yield

Earnings

Average move on report day±12.1%last 16 reports
Closed higher8 of 1650% of the time
Best reaction+25.3%
Worst reaction-25.1%

Stock move on the day after each report

-25.1%2023/Q2-12.3%2023/Q3+3.8%2023/Q4-9.7%2024/Q1+25.3%2024/Q2+10.0%2024/Q3+2.8%2024/Q4-8.4%2025/Q1-22.0%2025/Q2-6.3%2025/Q3+20.0%2026/Q1+0.7%2026/Q2
QuarterReport dateTimingImplied moveActual moveVersus implied
2026/Q229 Jul 2026After Market±19.5%+0.67%Within range
2026/Q16 May 2026After Market±9.0%+20.03%Bigger than priced
2025/Q35 Nov 2025After Market±8.4%-6.34%Within range
2025/Q26 Aug 2025After Market±9.4%-22.03%Bigger than priced
2025/Q17 May 2025After Market±10.0%-8.41%Within range
2024/Q46 Feb 2025After Market±12.3%+2.81%Within range
2024/Q37 Nov 2024After Market±8.7%+9.99%Bigger than priced
2024/Q26 Aug 2024After Market±6.3%+25.30%Bigger than priced
2024/Q12 May 2024After Market±8.3%-9.69%Bigger than priced
2023/Q46 Feb 2024After Market±7.4%+3.78%Within range
2023/Q32 Nov 2023After Market±6.5%-12.35%Bigger than priced
2023/Q23 Aug 2023After Market±5.7%-25.07%Bigger than priced
2023/Q14 May 2023After Market±7.3%+5.57%Within range
2022/Q47 Feb 2023After Market±5.6%+10.90%Bigger than priced
2022/Q32 Nov 2022After Market±6.7%-13.71%Bigger than priced
2022/Q23 Aug 2022After Market±6.2%-16.33%Bigger than priced

"Implied move" is the size of move the options market was pricing ahead of the report. Move is the stock’s change on the first session after the release.

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Product$773.00M 37.7%
  • Security subscription$729.70M 35.6%
  • Technical support and other$545.20M 26.6%

Latest reported quarter: Q2, ended Jun 2026

Revenue$2.05B+25.6% YoY
Operating profit$689.30M+50.5% YoY
Net profit$606.30M+37.8% YoY
Diluted EPS$0.82+43.9% YoY
Free cash flow$965.60M+239.9% YoY
Operating cash flow$1.04B

Revenue, last 8 quarters

$1.5BSep '24$1.7BDec '24$1.5BMar '25$1.6BJun '25$1.7BSep '25$1.9BDec '25$1.8BMar '26$2.0BJun '26

Net profit, last 8 quarters

$539.9MSep '24$526.2MDec '24$433.4MMar '25$440.1MJun '25$473.9MSep '25$506.0MDec '25$534.5MMar '26$606.3MJun '26

Profitability & balance sheet

Gross margin80.2%
Operating margin32.4%
Net margin28.2%
Return on equity117.4%
Return on assets19.7%
Return on invested capital87.9%
Current ratio1.28
Liabilities / assets85.7%
Cash & investments$4.07B
Total debt$496.90M
Net cash (debt)$3.57B
Free cash flow / sales41.4%
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