Fortinet (FTNT) EBT Margin (2010 - 2026)
Fortinet's (FTNT) quarterly EBT Margin came in at 35.5% in Q1 2026, up 177.0% year-on-year from 12.82% in Q1 2025, and up 3.91% quarter-over-quarter from 34.16% in Q4 2025.
Fortinet (FTNT) EBT Margin (2010 - 2026) Analysis & Trends
Fortinet's EBT Margin history runs 17 years deep, the most recent figure standing at 35.5% for Q1 2026.
- On a quarterly basis, EBT Margin rose 177.0% year-over-year to 35.5% in Q1 2026; TTM through Mar 2026 was 34.03%, a 72.0% decrease from a year earlier, with the FY2025 full-year figure at 33.56%, down 100.0% from the prior year.
- EBT Margin climbed to 35.5% in Q1 2026 per FTNT's latest filing, from 34.16% in the prior quarter.
- Across five years, EBT Margin topped out at 41.54% in Q3 2024 and bottomed at 147.27% in Q4 2024.
- The 5-year median for EBT Margin is 28.7% (2022), against an average of 18.02%.
- Across the five-year window, EBT Margin plunged 43819 bps in 2022 and surged 18143 bps in 2025, its largest moves.
- Year by year, EBT Margin stood at 28.7% in 2022, then climbed by 2 bps to 29.37% in 2023, then plunged by 601 bps to 147.27% in 2024, then jumped by 123 bps to 34.16% in 2025, then increased by 4 bps to 35.5% in 2026.
- Per Business Quant, the three latest FTNT EBT Margin figures stand at 35.5% (Q1 2026), 34.16% (Q4 2025), and 34.48% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 47.46% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 12.41% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 27.99% |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 54.43% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 21.16% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 4.43% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 35.50% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -3.35% |
| 10 | Synopsys | 70.83 Bn | 68.63 Bn | 1.77 Bn | 3.28% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 | -147.27% |
| 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 | 466.89% |
| Sep 30, 2021 | 18.07% |
| Jun 30, 2021 | 18.10% |