Fortinet (FTNT) EBITDA Margin (2010 - 2026)
Fortinet's (FTNT) quarterly EBITDA Margin came in at 31.36% in Q1 2026, up 188.0% year-on-year from 10.89% in Q1 2025, and down 4.51% quarter-over-quarter from 32.84% in Q4 2025.
Fortinet (FTNT) EBITDA Margin (2010 - 2026) Analysis & Trends
Fortinet's EBITDA Margin history runs 17 years deep, the most recent figure standing at 31.36% for Q1 2026.
- On a quarterly basis, EBITDA Margin rose 188.0% year-over-year to 31.36% in Q1 2026; TTM through Mar 2026 was 31.1%, a 1180.0% decrease from a year earlier, with the FY2025 full-year figure at 30.66%, up 38.0% from the prior year.
- EBITDA Margin fell to 31.36% in Q1 2026 per FTNT's latest filing, from 32.84% in the prior quarter.
- Across five years, EBITDA Margin topped out at 1845.98% in Q4 2024 and bottomed at 15.81% in Q1 2022.
- The 5-year median for EBITDA Margin is 27.89% (2022), against an average of 133.17%.
- Across the five-year window, EBITDA Margin soared 181875 bps in 2024 and slumped 181314 bps in 2025, its largest moves.
- Year by year, EBITDA Margin stood at 27.89% in 2022, then dropped by 2 bps to 27.23% in 2023, then surged by 6678 bps to 1845.98% in 2024, then tumbled by 98 bps to 32.84% in 2025, then slipped by 5 bps to 31.36% in 2026.
- Per Business Quant, the three latest FTNT EBITDA Margin figures stand at 31.36% (Q1 2026), 32.84% (Q4 2025), and 31.73% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 46.33% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 75.95% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 31.97% |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 46.18% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 15.30% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 1.06% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 31.36% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -9.69% |
| 10 | Synopsys | 70.83 Bn | 68.63 Bn | 1.77 Bn | 8.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 31.36% |
| Dec 31, 2025 | 32.84% |
| Sep 30, 2025 | 31.73% |
| Jun 30, 2025 | 28.10% |
| Mar 31, 2025 | 29.47% |
| Dec 31, 2024 | 1,845.98% |
| Sep 30, 2024 | 31.22% |
| Jun 30, 2024 | 30.48% |
| Mar 31, 2024 | 23.73% |
| Dec 31, 2023 | 27.23% |
| Sep 30, 2023 | 22.72% |
| Jun 30, 2023 | 21.58% |
| Mar 31, 2023 | 21.67% |
| Dec 31, 2022 | 27.89% |
| Sep 30, 2022 | 23.10% |
| Jun 30, 2022 | 18.96% |
| Mar 31, 2022 | 15.81% |
| Dec 31, 2021 | 484.01% |
| Sep 30, 2021 | 19.19% |
| Jun 30, 2021 | 18.41% |