Fortinet Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $6.50B | $5.93B | $5.30B | $4.42B | $3.34B | $2.59B | $2.15B |
| Product | — | $2.10B | $1.98B | $1.93B | $1.78B | $1.26B | $916.4M | $788.5M |
| Service | — | $4.40B | $3.95B | $3.38B | $2.63B | $2.09B | $1.68B | $1.37B |
| Cost of Revenue | — | $1.33B | $1.16B | $1.24B | $1.08B | $783.0M | $570.0M | $505.9M |
| Gross Profit | — | $5.47B | $4.80B | $4.07B | $3.33B | $2.56B | $2.02B | $1.66B |
| Gross Margin | — | 84.2% | 80.9% | 76.7% | 75.4% | 76.6% | 78.0% | 76.9% |
| Operating Expenses | ||||||||
| Research & Development | — | $815.5M | $716.8M | $613.8M | $512.4M | $424.2M | $341.4M | $277.1M |
| SG&A Expense | — | $233.4M | $237.8M | $211.3M | $169.0M | $143.5M | $119.5M | $102.1M |
| Operating Income | — | $2.08B | $1.80B | $1.24B | $969.6M | $650.4M | $531.8M | $351.0M |
| Operating Margin | — | 32.1% | 30.4% | 23.4% | 21.9% | 19.5% | 20.5% | 16.3% |
| Interest Expense | — | $20.1M | $20.0M | $21.0M | $18.0M | $14.9M | $0 | $0 |
| Pretax Income | — | $2.28B | $2.06B | $1.33B | $955.5M | $628.4M | $541.7M | $386.0M |
| Income Tax Expense | — | $439.1M | $283.9M | $143.8M | $30.8M | $14.1M | $53.2M | $54.3M |
| Net Income | — | $1.85B | $1.75B | $1.15B | $857.3M | $606.8M | $488.5M | $331.7M |
| Net Margin | — | 28.5% | 29.4% | 21.6% | 19.4% | 18.2% | 18.8% | 15.4% |
| EPS (Basic) | — | $2.45 | $2.28 | $1.47 | $1.08 | $0.74 | $0.60 | $0.39 |
| EPS (Diluted) | — | $2.42 | $2.26 | $1.46 | $1.06 | $0.73 | $0.58 | $0.38 |
| Shares Outstanding (Basic) | 739.9M | 758.0M | 764.4M | 778.6M | 791.4M | 816.1M | 821.0M | 855.0M |
| Shares Outstanding (Diluted) | 739.9M | 764.6M | 771.9M | 788.2M | 805.3M | 835.3M | 838.3M | 875.0M |
| Dividends Per Share | — | — | — | — | — | — | — | — |