Fortinet (FTNT) FCF Margin (2010 - 2026)
Fortinet (FTNT) posted FCF Margin of 55.21% for Q1 2026, up 82.14% on a QoQ basis from 30.31% in Q4 2025, and up 346.0% year-on-year from 12.38% in Q1 2025.
Fortinet (FTNT) FCF Margin (2010 - 2026) Analysis & Trends
Fortinet has disclosed FCF Margin across 17 years of filings, most recently posting 55.21% for Q1 2026.
- FCF Margin for Q1 2026 came in at 55.21%, up 346.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 35.22% (down 628.0% YoY), and the FY2025 annual result was 32.73%, up 118.0% from the prior year.
- FCF Margin came in at 55.21% for Q1 2026 at Fortinet, up from 30.31% in the prior quarter.
- Over the last five years, FCF Margin for FTNT reached as high as 410.93% in Q4 2024 and fell as low as 8.69% in Q2 2024.
- Median FCF Margin over the past 5 years was 38.21% (2023), compared with a mean of 60.39%.
- Year-over-year, FCF Margin plunged 226079 bps in 2022 and jumped 38653 bps in 2024.
- Over 5 years, FCF Margin stood at 41.48% in 2022, then tumbled by 41 bps to 24.4% in 2023, then surged by 1584 bps to 410.93% in 2024, then slumped by 93 bps to 30.31% in 2025, then soared by 82 bps to 55.21% in 2026.
- Per Business Quant, the three latest FTNT FCF Margin figures stand at 55.21% (Q1 2026), 30.31% (Q4 2025), and 33.88% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ZenaTech | 82,806.72 Bn | 82,806.72 Bn | - | -368.92% |
| 2 | Microsoft | 11,085.79 Bn | 11,007.52 Bn | 56.06 Bn | 19.07% |
| 3 | Palantir Technologies | 1,073.49 Bn | 1,065.58 Bn | 1.42 Bn | 54.62% |
| 4 | Rezolve Ai | 1,009.18 Bn | 1,009.17 Bn | - | - |
| 5 | Palo Alto Networks | 824.56 Bn | 820.03 Bn | 1.91 Bn | 14.80% |
| 6 | CrowdStrike Holdings | 701.26 Bn | 698.20 Bn | 993.68 Mn | 30.29% |
| 7 | Oracle | 514.97 Bn | 476.40 Bn | 17.12 Bn | 72.18% |
| 8 | Fortinet | 456.74 Bn | 453.45 Bn | 1.49 Bn | 55.21% |
| 9 | Cloudflare | 331.63 Bn | 330.68 Bn | 455.60 Mn | 14.55% |
| 10 | Synopsys | 303.79 Bn | 303.67 Bn | 1.77 Bn | 34.10% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 55.21% |
| Dec 31, 2025 | 30.31% |
| Sep 30, 2025 | 33.88% |
| Jun 30, 2025 | 19.72% |
| Mar 31, 2025 | 51.75% |
| Dec 31, 2024 | 410.93% |
| Sep 30, 2024 | 54.64% |
| Jun 30, 2024 | 8.69% |
| Mar 31, 2024 | 59.32% |
| Dec 31, 2023 | 24.40% |
| Sep 30, 2023 | 38.21% |
| Jun 30, 2023 | 35.83% |
| Mar 31, 2023 | 52.18% |
| Dec 31, 2022 | 41.48% |
| Sep 30, 2022 | 53.95% |
| Jun 30, 2022 | 27.52% |
| Mar 31, 2022 | 28.64% |
| Dec 31, 2021 | 830.41% |
| Sep 30, 2021 | 2,314.74% |
| Jun 30, 2021 | 52.30% |