SuperworthFortinet profit margin FTNT
Gross, operating and net profit as a share of revenue over the last twelve months, from 2011.
- Net margin, 12 months
- 28.2%
- Operating margin, 12 months
- 32.4%
- Net margin on a year earlier
- −2.4 pts
- Peer median
- 6.2%
Over the twelve months to Jun 30, 2026, Fortinet kept 28.2% of its revenue as net profit, with an operating margin of 32.4% and a gross margin of 80.2%.
Five years earlier its net margin was 17.7%.
The median for 10 infrastructure software stocks of a similar size is 6.2%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 27.3% | 30.7% | 80.5% |
| FY2024 | 29.3% | 30.3% | 80.6% |
| FY2023 | 21.6% | 23.4% | 76.7% |
| FY2022 | 19.4% | 21.9% | 75.4% |
| FY2021 | 18.2% | 19.5% | 76.6% |
| FY2020 | 18.8% | 20.5% | 78.0% |
| FY2019 | 15.3% | 16.0% | 76.6% |
| FY2018 | 18.4% | 12.8% | 75.0% |
| FY2017 | 2.1% | 7.3% | 74.2% |
| FY2016 | 2.5% | 3.4% | 73.5% |
| FY2015 | 0.8% | 1.5% | 71.6% |
| FY2014 | 3.3% | 7.7% | 70.0% |
| FY2013 | 7.2% | 11.7% | 70.6% |
| FY2012 | 12.5% | 18.8% | 72.4% |
| FY2011 | 14.4% | 20.5% | 73.8% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 28.2% | −2.4 pts | 32.4% | |
| Q1 FY26 | 27.5% | −3.1 pts | 31.1% | |
| Q4 FY25 | 27.3% | −2.0 pts | 30.7% | |
| Q3 FY25 | 28.6% | +1.8 pts | 31.0% | |
| Q2 FY25 | 30.6% | +6.9 pts | 30.9% | |
| Q1 FY25 | 30.6% | +8.4 pts | 31.5% | |
| Q4 FY24 | 29.3% | +7.7 pts | 30.3% | |
| Q3 FY24 | 26.8% | +4.5 pts | 28.3% | |
| Q2 FY24 | 23.7% | +2.5 pts | 26.1% | |
| Q1 FY24 | 22.2% | +1.8 pts | 23.9% | |
| Q4 FY23 | 21.6% | +2.2 pts | 23.4% | |
| Q3 FY23 | 22.2% | +4.1 pts | 23.5% |
Against its peers
Companies in Software - Infrastructure nearest Fortinet's size, closest first, today.
| Company | Profit margin |
|---|---|
| FTNTFortinet | 28.2% |
| NETCloudflare | −8.2% |
| SNPSSynopsys | 11.4% |
| CRWDCrowdStrike | 0.8% |
| PANWPalo Alto Networks | 2.7% |
| XYZBlock | 1.4% |
| ORCLOracle | 26.4% |
| ZSZscaler | −1.9% |
| TWLOTwilio | 20.6% |
| OKTAOkta | 9.6% |
| PLTRPalantir Technologies | 49.0% |
| Peer median | 6.2% |
Where Fortinet ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Fortinet
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.