Fortinet, Inc.
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FTNT FY 2025 request
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/api/financials?ticker=FTNT&year=2025&quarter=4&full_year_mode=true
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 6,799.6 | 5,955.8 | +14.2% |
Show Product Lines breakouts |
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| Product | 2,218.4 | 1,908.7 | +16.2% |
| Security subscription | 2,633.2 | 2,316.7 | +13.7% |
| Service | 4,581.2 | 4,047.1 | +13.2% |
| Technical support and other | 1,948 | 1,730.4 | +12.6% |
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| Reportable Segment | 6,799.6 | 5,955.8 | +14.2% |
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| Americas | 2,700.4 | 2,442.2 | +10.6% |
| APAC | 1,264.9 | 1,117.4 | +13.2% |
| EMEA | 2,834.3 | 2,396.2 | +18.3% |
| Other Americas | 770.9 | 663.3 | +16.2% |
| US | 1,929.5 | 1,778.9 | +8.5% |
| Cost of Revenue | 1,328.9 | 1,157.6 | +14.8% |
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| Product | 725.4 | 652 | +11.3% |
| Product · Reportable Segment | 725.4 | 652 | +11.3% |
| Service | 603.5 | 505.6 | +19.4% |
| Service · Reportable Segment | 603.5 | 505.6 | +19.4% |
| Gross Profit | 5,470.7 | 4,798.2 | +14.0% |
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| Product | 1,493 | 1,256.7 | +18.8% |
| Service | 3,977.7 | 3,541.5 | +12.3% |
| Research & Development | 815.5 | 716.8 | +13.8% |
Show Business Segments breakouts |
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| Reportable Segment | 815.5 | 716.8 | +13.8% |
| Sales & Marketing | 2,347.5 | 2,044.8 | +14.8% |
| General & Administrative | 233.4 | 237.8 | -1.9% |
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| Reportable Segment | 233.4 | 237.8 | -1.9% |
| Gain Loss From Mutual Covenant Not To Sue Agreement Right To Use Existing Intellectual Property | -10.4 | -4.6 | -126.1% |
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| Reportable Segment | -10.4 | -4.6 | -126.1% |
| Operating Expenses | 3,386 | 2,994.8 | +13.1% |
| Operating Income | 2,084.7 | 1,803.4 | +15.6% |
| Investment Income Net | 162.3 | 155.2 | +4.6% |
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| Reportable Segment | 162.3 | 155.2 | +4.6% |
| Interest Expense | -20.1 | -20 | -0.5% |
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| Reportable Segment | -20.1 | -20 | -0.5% |
| Other Non-Operating Income (Expense) | 55.3 | 119.9 | -53.9% |
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| Reportable Segment | 55.3 | 119.9 | -53.9% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 2,282.2 | 2,058.5 | +10.9% |
| Income Tax Expense (Benefit) | 439.1 | 283.9 | +54.7% |
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| Reportable Segment | 439.1 | 283.9 | +54.7% |
| Income Loss From Equity Method Investments | 10.3 | -29.4 | +135.0% |
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| Reportable Segment | 10.3 | -29.4 | +135.0% |
| Net Income | 1,853.4 | 1,745.2 | +6.2% |
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| Reportable Segment | 1,853.4 | 1,745.2 | +6.2% |
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| Retained Earnings | 1,853.4 | 1,745.2 | +6.2% |
| EPS (Basic) | 2.45 | 2.28 | +7.5% |
| EPS (Diluted) | 2.42 | 2.26 | +7.1% |
| Wtd Avg Shares (Basic) | 758 | 764.4 | -0.8% |
| Wtd Avg Shares (Diluted) | 764.6 | 771.9 | -0.9% |
| Comprehensive Income | 1,854.1 | 1,738 | +6.7% |
| Foreign Currency Transaction Gain Loss Before Tax | -4.9 | -16.9 | +71.0% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 2,495.3 | 2,875.9 | -13.2% |
| Other Short Term Investments | 1,087.2 | 1,190.6 | -8.7% |
| Accounts Receivable | 1,691.2 | 1,463.4 | +15.6% |
| Inventory | 399.5 | 315.5 | +26.6% |
| Prepaid Expenses & Other Current Assets | 227 | 126.1 | +80.0% |
| Total Current Assets | 5,900.2 | 5,971.5 | -1.2% |
| Non-Current Assets | |||
| Long Term Investments | 339.7 | — | — |
| Property, Plant & Equipment | 1,619 | 1,349.5 | +20.0% |
Show Geography breakouts |
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| Americas | 1,334.9 | 1,214.7 | +9.9% |
| APAC | 72.8 | 61.5 | +18.4% |
| CA | 329.2 | 216.8 | +51.8% |
| EMEA | 211.3 | 73.3 | +188.3% |
| Latin America | 4.9 | 4.4 | +11.4% |
| US | 1,000.8 | 993.5 | +0.7% |
| Deferred Tax Assets | 1,314.9 | 1,335.6 | -1.5% |
| Goodwill | 257.4 | 235.4 | +9.3% |
Show Business Acquisition breakouts |
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| Series Of Individually Immaterial Business Acquisitions | 21.9 | — | — |
| Other Non-Current Assets | 125.2 | 133.2 | -6.0% |
| Total Assets | 10,389.2 | 9,763.1 | +6.4% |
| Operating Lease Right-of-Use Assets | 64.4 | 72.2 | -10.8% |
| Intangible Assets | 97.3 | 115 | -15.4% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Backlog | 3.8 | 8.9 | -57.3% |
| Customer Relationships | 24.5 | 30.9 | -20.7% |
| Developed Technology Rights | 63.1 | 68.2 | -7.5% |
| Trade Names | 5.9 | 7 | -15.7% |
| Other Assets | |||
| Capitalized Contract Cost Net | 735.5 | 622.9 | +18.1% |
| Intangible Assets Net Excluding Goodwill | 97.3 | 115 | -15.4% |
| Current Liabilities | |||
| Accounts Payable | 230.8 | 190.9 | +20.9% |
| Accrued Liabilities | 354.6 | 337.9 | +4.9% |
| Employee Related Liabilities Current | 312.9 | 255.7 | +22.4% |
| Current Portion of Long-Term Debt | 499.7 | — | — |
| Deferred Revenue | 3,636 | 3,276.2 | +11.0% |
| Total Current Liabilities | 5,034 | 4,060.7 | +24.0% |
| Non-Current Liabilities | |||
| Deferred Revenue Noncurrent | 3,479.8 | 3,084.7 | +12.8% |
| Long-Term Debt | 496.6 | 994.3 | -50.1% |
| Other Non-Current Liabilities | 141.3 | 129.6 | +9.0% |
| Total Liabilities | 9,151.7 | 8,269.3 | +10.7% |
| Operating Lease Liabilities | 29.4 | 46.4 | -36.6% |
| Stockholders' Equity | |||
| Common Stock | 0.7 | 0.8 | -12.5% |
| Additional Paid In Capital Common Stock | 1,770.1 | 1,636.2 | +8.2% |
| Accumulated Other Comprehensive Income | -25.4 | -26.1 | +2.7% |
| Retained Earnings | -507.9 | -117.1 | -333.7% |
| Total Stockholders' Equity | 1,237.5 | 1,493.8 | -17.2% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | -25.4 | -26.1 | +2.7% |
| Additional Paid In Capital | 1,770.1 | 1,636.2 | +8.2% |
| Common Stock | 0.7 | 0.8 | -12.5% |
| Retained Earnings | -507.9 | -117.1 | -333.7% |
| Total Liabilities & Equity | 10,389.2 | 9,763.1 | +6.4% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 279.5 | 257.9 | +8.4% |
| Capitalized Contract Cost Amortization | 336.3 | 293.7 | +14.5% |
| Depreciation & Amortization | 152 | 122.8 | +23.8% |
| Accretion Amortization Of Discounts And Premiums Investments | -33.7 | -48.8 | +30.9% |
| Other Non-Cash Items | -52.7 | -92.1 | +42.8% |
| Change in Accounts Receivable | -215.9 | -45.4 | -375.6% |
| Change in Inventory | -90.6 | 131.2 | -169.1% |
| Change in Prepaid & Other Assets | -95.9 | -13.7 | -600.0% |
| Increase Decrease In Deferred Charges | -449 | -311.1 | -44.3% |
| Increase Decrease In Deferred Income Taxes | 66.2 | -223.2 | +129.7% |
| Increase Decrease In Other Operating Assets | -16.2 | -11 | -47.3% |
| Change in Accounts Payable | 27.9 | -10.2 | +373.5% |
| Increase Decrease In Accrued Liabilities | 13.3 | -106.7 | +112.5% |
| Increase Decrease In Employee Related Liabilities | 55 | — | — |
| Change in Deferred Revenue | 754.2 | 577.8 | +30.5% |
| Increase Decrease In Accrued Liabilities And Other Operating Liabilities | 6.8 | -8.3 | +181.9% |
| Net Cash from Operations | 2,590.6 | 2,258.1 | +14.7% |
| Deferred Income Taxes | 68.3 | -222.9 | +130.6% |
| Investing Activities | |||
| Payments To Acquire Other Investments | -1,996.1 | -1,948.6 | -2.4% |
| Proceeds From Sale Of Available For Sale Securities Debt | 10.6 | 0.5 | +2020.0% |
| Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities | 1,792.7 | 1,891.7 | -5.2% |
| Payments To Acquire Productive Assets | -364.8 | -378.9 | +3.7% |
| Payments To Acquire Businesses Net Of Cash Acquired | -41.6 | -275.5 | +84.9% |
| Other Investing Activities | 0.1 | 0.1 | 0.0% |
| Net Cash from Investing | -599.1 | -727.4 | +17.6% |
| Transfersof Evaluation Unitsfrom Inventoryto Propertyand Equipment | 29.2 | 35.5 | -17.7% |
| Share Repurchase Program Excise Tax | -18.3 | — | — |
Show Equity Components breakouts |
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| Additional Paid In Capital | -18.3 | — | — |
Show Share Repurchase Program breakouts |
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| Share Repurchase Program | -18.3 | — | — |
| Business Combination Consideration Transferred Liabilities Incurred | 4.6 | 6.2 | -25.8% |
| Capital Expenditures (FY) | — | — | — |
Show Geography breakouts |
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| California, United States; Burnaby, Canada; Frankfurt, Germany; Almere, The Netherlands; London, The United Kingdom | 255.8 | — | — |
| Financing Activities | |||
| Share Repurchases | -2,289.8 | -0.6 | -381533.3% |
| Proceeds From Issuance Of Common Stock | 44.7 | 63.1 | -29.2% |
| Tax Withholding for Share Compensation | -126.3 | -100.9 | -25.2% |
Show Award Type breakouts |
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| Restricted Stock Units RSU | -126.5 | -101 | -25.2% |
| Proceeds From Payments For Other Financing Activities | -0.1 | -11.7 | +99.1% |
| Net Cash from Financing | -2,371.5 | -50.1 | -4633.5% |
| Supplemental | |||
| Income Taxes Paid | 451.5 | 578.9 | -22.0% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 51.3 | 39.3 | +30.5% |
| Unpaid Capital Expenditures | 25.6 | 23 | +11.3% |
| Interest Paid | 16 | 16 | 0.0% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -0.6 | -2.6 | +76.9% |
| Net Change in Cash | -380.6 | 1,478 | -125.8% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 2,495.3 | 2,875.9 | -13.2% |
Values in millions USD. Source: SEC EDGAR 10-K filing.