Fortinet is a network security provider from California. It is known for its FortiGate firewalls with custom chips. It also offers security services by subscription, protection for cloud and remote access, and networking equipment such as Wi-Fi and switches. As of Oct 11, 2026
As of Oct 11, 2026Fact sheet (from the annual report)Computer peripherals and network security · Sunnyvale, USAfull fact sheet
Fortinet develops cybersecurity products that combine networking and security. The Fortinet Security Fabric platform comprises secure networking, cloud-delivered access and security operations supported by artificial intelligence. Its core technologies are the FortiOS operating system and in-house developed custom chips. Customers are companies of all sizes and government agencies from industries such as finance, retail, manufacturing and healthcare. Sales run mainly through distributors that supply resellers and managed security service providers. In addition, there are subscriptions for security services and technical support.
Calculated automatically by fixed rules – not investment advice, check for yourself. How we analyze
Price performance at a glance
Last 30 trading days
Today+1.9%
7 days+6.9%
30 days+5.7%
1 year+114.3%
Day range (last trading day)
−2.7%Price at 78% of the range+0.8%
52-week range
−59.9%Price at 89% of the range+7.5%
Distance from the all-time high
−7.0%
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Load chart from TradingView
This transfers data (including your IP address) to TradingView, also to the USA. More in the Privacy policy.
With a free account: save the buy zone shown for yourself (stop and targets from Watcher). It stays visible even if the zone changes later. Log in
· Sign up
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and margin
Fortinet · Sector Technology · amounts in USD
Information only – does not affect our buy zones, not investment advice. Source: SEC filings, As of Feb 25, 2026.
In short
Light green: Revenue grew over 5 years (+21.3% per year), at least as fast as the sector median.
Light green: Net income (total) grew over 5 years (+30.6% per year), at least as fast as the sector median; per share +33.0% per year.
Light green: Net margin 27.3%, above the sector median (12.5%).
Light green: Debt not higher than usual in the sector.
Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
RevenueNet incomeNet margin (below)in USD
02B4B6B8B
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 1.3B USD · Net income 32.2M USD · Net margin 2.5%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 1.5B USD · Net income 31.4M USD · Net margin 2.1%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 1.8B USD · Net income 332.2M USD · Net margin 18.4%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 2.2B USD · Net income 326.5M USD · Net margin 15.1%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 2.6B USD · Net income 488.5M USD · Net margin 18.8%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 3.3B USD · Net income 606.8M USD · Net margin 18.2%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 4.4B USD · Net income 857.3M USD · Net margin 19.4%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 5.3B USD · Net income 1.1B USD · Net margin 21.6%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 6.0B USD · Net income 1.7B USD · Net margin 29.3%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 6.8B USD · Net income 1.9B USD · Net margin 27.3%
Margin
3%2%18%15%19%18%19%22%29%27%
RevenueNet incomeNet margin (below)in USD
01B2B3B
Q3/23Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Revenue 1.3B USD · Net income 322.9M USD · Net margin 24.2%
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 1.4B USD · Net income 310.9M USD · Net margin 22.0% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 1.4B USD · Net income 299.3M USD · Net margin 22.1%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 1.4B USD · Net income 379.8M USD · Net margin 26.5%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 1.5B USD · Net income 539.9M USD · Net margin 35.8%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 1.7B USD · Net income 526.2M USD · Net margin 31.7% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 1.5B USD · Net income 433.4M USD · Net margin 28.1%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 1.6B USD · Net income 440.1M USD · Net margin 27.0%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 1.7B USD · Net income 473.9M USD · Net margin 27.5%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 1.9B USD · Net income 506.0M USD · Net margin 26.6% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 1.8B USD · Net income 534.5M USD · Net margin 28.9%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 2.0B USD · Net income 606.3M USD · Net margin 29.6%
Margin
24%22%22%26%36%32%28%27%27%27%29%30%
Earnings per shareUSD per share
01.002.003.00
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 0.04 USD (adjusted for split 5:1)
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 0.04 USD (adjusted for split 5:1)
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 0.38 USD (adjusted for split 5:1)
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 0.37 USD (adjusted for split 5:1)
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 0.58 USD (adjusted for split 5:1)
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 0.73 USD (adjusted for split 5:1)
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 1.06 USD
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 1.46 USD
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 2.26 USD
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 2.42 USD
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Earnings per share not reported separately for Q4
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Earnings per share 0.72 USD
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Earnings per share 0.82 USD
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 6.8B USD · Net income 1.9B USD · Net margin 27.3%
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+21.3%per year, last 5 years
Sector Technology: median +13.5% (88 symbols)
What does this mean? Revenue: over 5 years it grew by 21.3% per year on average – at least as fast as the median company in the sector (+13.5%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+30.6%per year, last 5 years
Sector Technology: median +13.3% (62 symbols)
per share: +33.0% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 30.6% per year on average – at least as fast as the median company in the sector (+13.3%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
What does this mean? Of every 100 USD in revenue, 27.26 USD remained as profit – at least as much as the median company in the sector (12.5%). Five years ago the margin was 18.8%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth
Light green: lower than sector
0.32latest balance sheet
Sector Technology: median 0.46 (65 symbols)
What does this mean? For every 1 USD of equity there is 0.32 USD of financial debt – no more than the median company in the sector (0.46). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth
Light gray: none found
–Dividend / earnings per share
Sector Technology: median 30% (36 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin
Light green: profit every year
10 of 10fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
Last fiscal year and 13F
Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
6.8B USD
Revenue vs. prior year
+14.2%
Net income (FY)
1.9B USD
Net income vs. prior year
+6.2%
EPS (FY)
2.42 USD
13F funds with a position
1 of 9
Funds vs. prior quarter
+1
Shares held vs. prior quarter
–
Fiscal year to Dec 31, 2025 · 10-K filed Feb 25, 2026 · Balance sheet Jun 30, 2026 (filed Jul 30, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term).13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
Year
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
2025
Dec 31, 2025
6.8B
1.9B
27.3%
2.42
–
–
2024
Dec 31, 2024
6.0B
1.7B
29.3%
2.26
–
–
2023
Dec 31, 2023
5.3B
1.1B
21.6%
1.46
–
–
2022
Dec 31, 2022
4.4B
857.3M
19.4%
1.06
–
–
2021
Dec 31, 2021
3.3B
606.8M
18.2%
0.73
–
–
2020
Dec 31, 2020
2.6B
488.5M
18.8%
0.58
–
–
2019
Dec 31, 2019
2.2B
326.5M
15.1%
0.37
–
–
2018
Dec 31, 2018
1.8B
332.2M
18.4%
0.38
–
–
2017
Dec 31, 2017
1.5B
31.4M
2.1%
0.04
–
–
2016
Dec 31, 2016
1.3B
32.2M
2.5%
0.04
–
–
Quarters (amounts in USD, per share in USD)
Quarter
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
Q2/26
Jun 30, 2026
2.0B
606.3M
29.6%
0.82
–
–
Q1/26
Mar 31, 2026
1.8B
534.5M
28.9%
0.72
–
–
Q4/25*
Dec 31, 2025
1.9B
506.0M
26.6%
–
–
–
Q3/25
Sep 30, 2025
1.7B
473.9M
27.5%
0.62
–
–
Q2/25
Jun 30, 2025
1.6B
440.1M
27.0%
0.57
–
–
Q1/25
Mar 31, 2025
1.5B
433.4M
28.1%
0.56
–
–
Q4/24*
Dec 31, 2024
1.7B
526.2M
31.7%
–
–
–
Q3/24
Sep 30, 2024
1.5B
539.9M
35.8%
0.70
–
–
Q2/24
Jun 30, 2024
1.4B
379.8M
26.5%
0.49
–
–
Q1/24
Mar 31, 2024
1.4B
299.3M
22.1%
0.39
–
–
Q4/23*
Dec 31, 2023
1.4B
310.9M
22.0%
–
–
–
Q3/23
Sep 30, 2023
1.3B
322.9M
24.2%
0.41
–
–
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Per-share values adjusted for stock split Stock splitA company divides each share into several new ones; the value of the company stays the same. We convert per-share values from before the split to today’s scale.Example: Split 4 : 1, earnings per share before $11.89 → comparable today $2.97.More in the Academy: Lesson revenue, profit and margin 5:1 (between May 6, 2022 and Aug 5, 2022). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary
Aug 4, 2026Ohlgart ChristianeChief financial officer (CFO)Open-market sale · 10b5-1 plan387 shares · $63.7K · SEC
Aug 3, 2026Xie KenChief executive (CEO), DirectorOpen-market sale · 10b5-1 plan162 shares · $26.6K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score +90
Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+15
Highs and lows+10
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)25.1
Rel. strength 60 d+11.3%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.