Fortinet (FTNT) EBITDA (2010 - 2026)
Fortinet (FTNT) recorded EBITDA of $827.4 million in Q2 2026, up 43.1% from $578.3 million a year earlier and up 15.9% from the prior quarter.
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Analysis
Fortinet (FTNT) EBITDA (2010 - 2026) Analysis & Trends
On a TTM basis, Fortinet's EBITDA came in at $2.97 billion as of Jun 30, 2026, up 23.4% year-over-year; for FY2025, it was $2.57 billion, up 15.9% from FY2024.
- Annual EBITDA has increased for ten straight years, with a five-year compound annual growth rate of 28.4% (FY2020 to FY2025).
- Across earlier years, EBITDA came in at $2.22 billion in FY2024 (+37.0%), $1.62 billion in FY2023 (+24.9%), $1.3 billion in FY2022 (+42.4%) and $910.7 million in FY2021 (+23.4%).
- The Q2 2026 figure is the highest quarterly EBITDA in data going back to Q3 2010.
- On a year-over-year basis, EBITDA has increased for 34 consecutive quarters, with growth averaging 27.8% over the last eight quarters.
- Over the past five years, the year-over-year growth in EBITDA ranged from 7.3% (Q2 2025) to 58.7% (Q1 2023).
- Per Business Quant, the preceding three quarters came in at $714 million (Q1 2026), $755.4 million (Q4 2025) and $671.7 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 277.52 Bn | 262.59 Bn | 2.30 Bn | 693.00 Mn |
| 2 | CrowdStrike Holdings | 249.50 Bn | 229.90 Bn | 1.10 Bn | 170.34 Mn |
| 3 | Fortinet | 133.40 Bn | 119.33 Bn | 1.64 Bn | 827.40 Mn |
| 4 | Snowflake | 117.12 Bn | 104.44 Bn | 1.04 Bn | -134.60 Mn |
| 5 | Datadog | 94.86 Bn | 76.51 Bn | 881.34 Mn | 47.04 Mn |
| 6 | Okta | 36.37 Bn | 26.46 Bn | 641.00 Mn | 166.00 Mn |
| 7 | Zscaler | 35.35 Bn | 21.47 Bn | - | - |
| 8 | Axon Enterprise | 33.67 Bn | 28.19 Bn | 546.45 Mn | 79.24 Mn |
| 9 | MongoDB | 29.54 Bn | 20.01 Bn | 569.77 Mn | 35.33 Mn |
| 10 | F5 | 25.93 Bn | 20.34 Bn | 711.51 Mn | 236.70 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 827.40 Mn |
| Mar 31, 2026 | 714.00 Mn |
| Dec 31, 2025 | 755.40 Mn |
| Sep 30, 2025 | 671.70 Mn |
| Jun 30, 2025 | 578.30 Mn |
| Mar 31, 2025 | 567.60 Mn |
| Dec 31, 2024 | 684.70 Mn |
| Sep 30, 2024 | 574.30 Mn |
| Jun 30, 2024 | 539.10 Mn |
| Mar 31, 2024 | 421.80 Mn |
| Dec 31, 2023 | 486.00 Mn |
| Sep 30, 2023 | 399.50 Mn |
| Jun 30, 2023 | 371.80 Mn |
| Mar 31, 2023 | 363.50 Mn |
| Dec 31, 2022 | 444.60 Mn |
| Sep 30, 2022 | 348.60 Mn |
| Jun 30, 2022 | 275.00 Mn |
| Mar 31, 2022 | 229.00 Mn |
| Dec 31, 2021 | 289.20 Mn |
| Sep 30, 2021 | 234.40 Mn |
API Access
Fortinet EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "ticker": "FTNT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();