Fortinet (FTNT) EBT Margin (2010 - 2026)
Fortinet (FTNT) recorded EBT Margin of 35.17% in Q2 2026, up 3.43 percentage points from 31.74% a year earlier but down 0.33 percentage points from the prior quarter.
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Analysis
Fortinet (FTNT) EBT Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Fortinet's EBT Margin came in at 34.84% as of Jun 30, 2026, down 1.16 percentage points year-over-year; for FY2025, it was 33.56%, down 1.00 percentage points from FY2024.
- Annual EBT Margin has a five-year change of +12.68 percentage points (FY2020 to FY2025).
- Across earlier years, EBT Margin came in at 34.56% in FY2024 (+9.42 pp), 25.14% in FY2023 (+3.51 pp), 21.63% in FY2022 (+2.83 pp) and 18.80% in FY2021 (-2.08 pp).
- Quarterly EBT Margin has ranged from 14.53% in Q1 2022 to 41.54% in Q3 2024 over the past five years.
- On a year-over-year basis, EBT Margin rose in five of the last eight quarters, with an average year-over-year change of +3.40 percentage points.
- Peak year-over-year performance for EBT Margin in the last five years was a gain of 16.97 percentage points in Q3 2024, against a drop of 7.05 percentage points in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 35.50% (Q1 2026), 34.16% (Q4 2025) and 34.48% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 264.75 Bn | 249.82 Bn | 2.30 Bn | -7.89% |
| 2 | CrowdStrike Holdings | 238.93 Bn | 219.33 Bn | 1.10 Bn | 0.27% |
| 3 | Fortinet | 127.84 Bn | 113.77 Bn | 1.64 Bn | 35.17% |
| 4 | Snowflake | 110.22 Bn | 97.54 Bn | 1.04 Bn | -12.17% |
| 5 | Datadog | 89.46 Bn | 71.10 Bn | 881.34 Mn | 4.61% |
| 6 | Zscaler | 33.91 Bn | 20.03 Bn | - | - |
| 7 | Okta | 33.86 Bn | 23.96 Bn | 641.00 Mn | 15.65% |
| 8 | Axon Enterprise | 32.92 Bn | 27.44 Bn | 546.45 Mn | 3.61% |
| 9 | MongoDB | 27.85 Bn | 18.31 Bn | 569.77 Mn | 5.95% |
| 10 | F5 | 25.12 Bn | 19.53 Bn | 711.51 Mn | 26.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 35.17% |
| Mar 31, 2026 | 35.50% |
| Dec 31, 2025 | 34.16% |
| Sep 30, 2025 | 34.48% |
| Jun 30, 2025 | 31.74% |
| Mar 31, 2025 | 33.73% |
| Dec 31, 2024 | 37.25% |
| Sep 30, 2024 | 41.54% |
| Jun 30, 2024 | 32.65% |
| Mar 31, 2024 | 25.52% |
| Dec 31, 2023 | 29.37% |
| Sep 30, 2023 | 24.56% |
| Jun 30, 2023 | 23.14% |
| Mar 31, 2023 | 23.06% |
| Dec 31, 2022 | 28.70% |
| Sep 30, 2022 | 23.03% |
| Jun 30, 2022 | 17.85% |
| Mar 31, 2022 | 14.53% |
| Dec 31, 2021 | 21.51% |
| Sep 30, 2021 | 18.07% |
API Access
Fortinet EBT 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=ebt-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-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=ebt-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();