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FTNT

Fortinet

Information TechnologyIndustrial MachineryS&P 500
Ticker FTNTSUNNYVALE, CAFiscal year ends DecemberBook value per share $2.09Diluted shares 741.3M

Fortinet, Inc. (Nasdaq: FTNT) provides cybersecurity products and services that integrate networking and security through its Fortinet Security Fabric platform. Its portfolio spans secure networking, unified Secure Access Service Edge (SASE) and AI-driven security operations, serving enterprises, service providers,… From the company’s description.

In fiscal 2025, Fortinet reported revenue of $6.80B, up 14.2% from fiscal 2024, and net income of $1.85B. Its operating margin was 30.7%, and operations generated $2.59B in cash. Over the twelve months to Jun 30, 2026, revenue was $7.53B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$6.80BFY2025
+14.2% year over year
Last 12 mo $7.53B
30.66%FY2025
+0.4 percentage points
Last 12 mo 32.44%
$1.85BFY2025
+6.2% year over year
Last 12 mo $2.12B
149.77%FY2025
+32.9 percentage points
Last 12 mo 136.72%
Cash & financing
$2.59BFY2025
+14.7% year over year
Last 12 mo $3.40B
$2.23BFY2025
+18.4% year over year
Last 12 mo $3.12B
0.81FY2025
Was 0.67× a year earlier
Last 12 mo 0.32
764.6MFY2025
−0.9% year over year
Last 12 mo 741.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Fortinet does

In the company’s own words

Fortinet, Inc. (Nasdaq: FTNT) provides cybersecurity products and services that integrate networking and security through its Fortinet Security Fabric platform. Its portfolio spans secure networking, unified Secure Access Service Edge (SASE) and AI-driven security operations, serving enterprises, service providers, managed security service providers and government organizations across more than 100 countries. Products include FortiGate firewalls, FortiSwitch and FortiAP connectivity equipment, cloud security and endpoint protection, while FortiGuard subscriptions provide threat protection and FortiCare offers technical support. Fortinet sells primarily through distributors, resellers and service providers, with some direct sales to large customers. It reports one operating segment. Revenue was $6.80 billion for the fiscal year ended December 31, 2025, and the company had 15,109 employees at year-end. Its main platform technologies and brands include FortiOS, FortiASIC, FortiCloud, FortiAI and FortiGuard Labs, its threat intelligence and research organization. Its website is https://www.fortinet.com.

Company details
Sector
Information Technology
Industry (SIC)
Industrial Machinery
Headquarters
SUNNYVALE, CA
Fiscal year end
December
CIK
1262039
SIC
3577

Financial performance, year by year

Fiscal 2013–2025 · USD
$-752.74M$1.51B$3.76B$6.02B$8.28B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Fortinet — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

864
funds hold it
1 of 35
superinvestors hold it
$27.60B
held by funds, at market
26.8%
of shares held by funds
1
bond issues held by funds

Superinvestors in Fortinet · what they did last quarter

Terry SmithDECREASED -41.0%
Fundsmith
4.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Fortinet’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.13%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.15%of fund net assets
0.49%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.15%of fund net assets
First Trust Nasdaq Cybersecurity ETF
CIBR · First Trust Exchange-Traded Fund II
8.85%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fortinet’s bonds, as funds hold them

Funds report holding 1 issues of Fortinet’s debt, $57.56M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 2.20%, maturing 2031 to 2031.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Fortinet and its peers compare on margins and cash generation over ten years?”
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