FTNT · XBRL financial data

Fortinet financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (FTNT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	2,594	3,342	4,417	5,305	5,956	6,800
Cost of goods and services sold	570	783	1,085	1,237	1,158	1,329
Gross profit	2,024	2,559	3,333	4,068	4,798	5,471
Research and development	341	424	512	614	717	816
General and administrative	120	144	169	211	238	233
Total operating expenses	1,493	1,909	2,363	2,827	2,995	3,386
Operating income (loss)	532	650	970	1,241	1,803	2,085
Interest expense	0	15	18	21	20	20
Other income (expense)	(8)	(12)	(14)	(6)	14	55
Income tax expense (benefit)	53	14	31	144	284	439
Net income (loss)	489	607	857	1,148	1,745	1,853
Earnings per share, basic‡ USD per share	0.60	0.74	1.08	1.47	2.28	2.45
Earnings per share, diluted‡ USD per share	0.58	0.73	1.06	1.46	2.26	2.42
Weighted average shares, basic‡ millions of shares	821	816	791	779	764	758
Weighted average shares, diluted‡ millions of shares	839	836	805	788	772	765

‡ Per-share figures and share counts are adjusted for the 5-for-1 stock split (April 2022); filings made before it reported them unadjusted.

Fiscal years (FTNT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	1,062	1,319	1,683	1,398	2,876	2,495
Short-term investments	776	—	—	—	—	—
Accounts receivable	720	808	1,262	1,402	1,463	1,691
Inventory	140	176	265	485	316	400
Prepaid and other current assets	43	65	73	101	126	227
Total current assets	2,740	3,601	3,810	4,428	5,972	5,900
Property and equipment, net	448	688	899	1,044	1,350	1,619
Right-of-use asset	49	65	96	76	72	64
Goodwill	93	125	128	127	235	257
Total assets	4,045	5,919	6,228	7,259	9,763	10,389
Accounts payable	142	148	243	204	191	231
Accrued liabilities	149	197	266	424	338	355
Current portion of long-term debt	0	—	—	—	0	500
Total current liabilities	1,830	2,318	3,078	3,719	4,061	5,034
Long-term debt	0	988	990	992	994	497
Lease liability, non-current	34	41	63	46	46	29
Total liabilities	3,189	5,121	6,510	7,722	8,269	9,152
Accumulated deficit	(352)	(468)	(1,546)	(1,862)	(117)	(508)
Total stockholders' equity	856	782	(282)	(463)	1,494	1,238
Total liabilities and equity	4,045	5,919	6,228	7,259	9,763	10,389
Common shares outstanding (cover page)‡ millions of shares	816	804	784	763	769	740

‡ Per-share figures and share counts are adjusted for the 5-for-1 stock split (April 2022); filings made before it reported them unadjusted.

Fiscal years (FTNT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	489	607	857	1,148	1,745	1,853
Stock-based compensation	192	208	217	249	258	280
Depreciation and amortization	69	84	104	113	123	152
Net cash from operating activities	1,084	1,500	1,731	1,936	2,258	2,591
Net cash from investing activities	(73)	(1,325)	764	(649)	(727)	(599)
Proceeds from issuing common stock	22	26	26	44	63	45
Share repurchases	1,080	742	1,991	1,501	1	2,290
Proceeds from long-term debt	0	989	0	0	—	—
Net cash from financing activities	(1,172)	83	(2,130)	(1,570)	(50)	(2,372)
Net change in cash	(161)	257	364	(285)	1,478	(381)

SIC 3577 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 3577 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-K, the year less the first three quarters; for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Fortinet	3,751	2,078	946*	734.7M	Q3 FY26 10-QSep 30, 2026
Seagate Technology Holdings	1,258	4,233	1,690	229.6M	Q1 FY27 10-QOct 2, 2026
Western Digital	1,314	4,381	1,604	374.3M	Q1 FY27 10-QOct 2, 2026
Sandisk	5,136	11,031	6,363	142.3M	Q1 FY27 10-QOct 2, 2026
Dell Technologies	11,569	46,971	2,225*	not reported	Q2 FY27 10-QJul 31, 2026
Arista Networks	2,288	3,658	1,201*	1.3B	Q3 FY26 10-QSep 30, 2026
Palo Alto Networks	2,514	3,410*	1,357*	818.0M	Q4 FY26 10-KJul 31, 2026
HP	4,169	15,677	1,735*	901.8M	Q3 FY26 10-QJul 31, 2026
Hewlett Packard Enterprise	6,216	12,213	1,641*	1.3B	Q3 FY26 10-QJul 31, 2026

Not investment advice. Not affiliated with the U.S. SEC.