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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) is a global leader in cybersecurity, driving the convergence of networking and security through its integrated Fortinet Security Fabric platform. The company's mission centers on securing people, devices, and data everywhere across diverse environments. Fortinet operates through three… From the company’s description.

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) is a global leader in cybersecurity, driving the convergence of networking and security through its integrated Fortinet Security Fabric platform. The company's mission centers on securing people, devices, and data everywhere across diverse environments. Fortinet operates through three primary solution pillars: Secure Networking, Unified Secure Access Service Edge (SASE), and AI-Driven Security Operations (SecOps).

The Secure Networking segment delivers convergence of networking and security via FortiOS, the company's unified operating system, supported by proprietary FortiASIC technology that accelerates performance and enables encrypted traffic inspection. The Unified SASE solution provides single-vendor integration of firewall, SD-WAN, secure web gateway, cloud access security broker, data loss prevention, and zero trust network access capabilities across a global infrastructure of over 190 points of presence. The AI-Driven SecOps portfolio includes FortiAnalyzer as the central security operations center platform, alongside FortiSIEM, FortiSOAR, FortiEndpoint, and complementary threat detection and response solutions.

Fortinet serves enterprises, government organizations, and service providers across over 100 countries, spanning financial services, retail, healthcare, manufacturing, and operational technology sectors. The company generated total revenue of $6.80 billion for the year ended December 31, 2025, with net income of $1.85 billion. As of December 31, 2025, Fortinet held 1,064 U.S. patents and 1,405 global patents, including 321 AI-related patents, and maintained recognition in over 140 enterprise analyst reports.

Fortinet employs 15,109 people globally, with approximately 30 percent in the United States, 20 percent in Canada, and 50 percent in other regions, primarily Europe, Middle East, and Africa. The company distributes products through a two-tier model involving technology distributors and resellers, supplemented by direct sales to large enterprises and service providers. Manufacturing is outsourced to contract manufacturers, with approximately 87 percent of hardware manufactured in Taiwan. The company's website is located at 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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