Fortinet (FTNT) EBITDA Margin (2010 - 2026)
Fortinet (FTNT) posted EBITDA Margin of 40.40% for Q2 2026, up 4.92 percentage points from 35.48% a year earlier and up 1.80 percentage points from the prior quarter.
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Analysis
Fortinet (FTNT) EBITDA Margin (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EBITDA Margin at Fortinet was 39.44%, up 1.49 percentage points year-over-year; for FY2025, it came in at 37.84%, up 0.57 percentage points from FY2024.
- Annual EBITDA Margin has increased for four consecutive years, with a five-year change of +9.39 percentage points (FY2020 to FY2025).
- In prior years, Fortinet's EBITDA Margin was 37.27% in FY2024 (+6.72 pp), 30.55% in FY2023 (+1.19 pp), 29.37% in FY2022 (+2.12 pp) and 27.25% in FY2021 (-1.20 pp).
- The Q2 2026 figure stands as the highest quarterly EBITDA Margin since Q4 2024.
- On a year-over-year basis, EBITDA Margin increased in six of the last eight quarters, with an average year-over-year change of +3.07 percentage points.
- The strongest year-over-year quarter for EBITDA Margin in the past five years was Q2 2024, with a gain of 8.83 percentage points; the weakest was Q2 2025, with a drop of 2.11 percentage points.
- According to Business Quant data, EBITDA Margin for the three prior quarters was 38.60% (Q1 2026), 39.65% (Q4 2025) and 38.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 264.72 Bn | 249.79 Bn | 2.30 Bn | 20.32% |
| 2 | CrowdStrike Holdings | 238.73 Bn | 219.14 Bn | 1.10 Bn | 11.58% |
| 3 | Fortinet | 127.27 Bn | 113.20 Bn | 1.64 Bn | 40.40% |
| 4 | Snowflake | 110.23 Bn | 97.55 Bn | 1.04 Bn | -8.70% |
| 5 | Datadog | 89.17 Bn | 70.81 Bn | 881.34 Mn | 4.19% |
| 6 | Zscaler | 33.92 Bn | 20.04 Bn | - | - |
| 7 | Okta | 33.82 Bn | 23.92 Bn | 641.00 Mn | 20.62% |
| 8 | Axon Enterprise | 33.04 Bn | 27.56 Bn | 546.45 Mn | 8.76% |
| 9 | MongoDB | 27.87 Bn | 18.34 Bn | 569.77 Mn | 4.58% |
| 10 | F5 | 25.05 Bn | 19.46 Bn | 711.51 Mn | 27.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.40% |
| Mar 31, 2026 | 38.60% |
| Dec 31, 2025 | 39.65% |
| Sep 30, 2025 | 38.94% |
| Jun 30, 2025 | 35.48% |
| Mar 31, 2025 | 36.86% |
| Dec 31, 2024 | 41.24% |
| Sep 30, 2024 | 38.08% |
| Jun 30, 2024 | 37.59% |
| Mar 31, 2024 | 31.17% |
| Dec 31, 2023 | 34.34% |
| Sep 30, 2023 | 29.93% |
| Jun 30, 2023 | 28.76% |
| Mar 31, 2023 | 28.80% |
| Dec 31, 2022 | 34.65% |
| Sep 30, 2022 | 30.33% |
| Jun 30, 2022 | 26.70% |
| Mar 31, 2022 | 23.98% |
| Dec 31, 2021 | 30.01% |
| Sep 30, 2021 | 27.03% |
API Access
Fortinet EBITDA Margin 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-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();