Direct Answer
Fortinet reported revenue of $6.8 billion for the fiscal year ended December 31, 2025, with an operating margin of 30.7% and net income of $1.9 billion, according to its SEC filings. Revenue grew 14.2% from the prior year.
What Are Fortinet's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $6.8 billion | $6.0 billion | $5.3 billion | $4.4 billion |
| Operating income | $2.1 billion | $1.8 billion | $1.2 billion | $970 million |
| Operating margin | 30.7% | 30.3% | 23.4% | 21.9% |
| Net income | $1.9 billion | $1.7 billion | $1.1 billion | $857 million |
| Net margin | 27.3% | 29.3% | 21.6% | 19.4% |
| Operating cash flow | $2.6 billion | $2.3 billion | $1.9 billion | $1.7 billion |
| Capital expenditures | $365 million | $379 million | $204 million | $281 million |
| Free cash flow | $2.2 billion | $1.9 billion | $1.7 billion | $1.4 billion |
Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $2.2 billion against net income of $1.9 billion; cash generation covered reported earnings.
What Does Fortinet's Balance Sheet Show?
| Cash and cash equivalents | $2.5 billion |
|---|---|
| Long-term debt | $497 million |
| Total assets | $10.4 billion |
| Total liabilities | $9.2 billion |
| Shareholders' equity | $1.2 billion |
| Current ratio | 1.2x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Fortinet reported in its own SEC filings, read from the SEC's XBRL data (accession 0001262039-26-000007 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Fortinet's revenue in fiscal 2025?
Fortinet reported revenue of $6.8 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Fortinet's operating margin?
Fortinet's operating margin was 30.7% in fiscal 2025: operating income of $2.1 billion on revenue of $6.8 billion.
How much free cash flow did Fortinet generate?
Operating cash flow of $2.6 billion less capital expenditures of $365 million gives free cash flow of $2.2 billion for fiscal 2025.