Fortinet (FTNT) FCF Margin (2010 - 2026)
Fortinet (FTNT) posted quarterly FCF Margin of 47.15% for Q2 2026, up 2743.0% year-over-year from 1.66% in Q2 2025, and down 13.35% quarter-over-quarter from 54.42% in Q1 2026.
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Fortinet (FTNT) FCF Margin (2010 - 2026) Analysis & Trends
Fortinet's FCF Margin history runs 17 years deep, the most recent figure standing at 47.15% for Q2 2026.
- In Q2 2026, FCF Margin rose 2743.0% year-over-year to 47.15%; the TTM figure through Jun 2026 stood at 41.63% (down 233.0% YoY), while the FY2025 annual figure was 32.73%, up 118.0% from the prior year.
- FCF Margin for Q2 2026 stood at 47.15%, down from 54.42% in the prior quarter.
- The five-year high for FCF Margin was 1221.86% in Q4 2024, with the low at 11.65% in Q4 2023.
- The 5-year median for FCF Margin is 36.87% (2023), against an average of 101.69%.
- The sharpest annual moves came in 2024 and 2025: FCF Margin soared 121022 bps in 2024, then plunged 119156 bps in 2025.
- Fortinet's FCF Margin stood at 38.75% in 2022, then plunged by 70 bps to 11.65% in 2023, then surged by 10392 bps to 1221.86% in 2024, then tumbled by 98 bps to 30.31% in 2025, then surged by 56 bps to 47.15% in 2026.
- Business Quant data shows FTNT's FCF Margin at 47.15% in Q2 2026, 54.42% in Q1 2026, and 30.31% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,713.76 Bn | 3,581.01 Bn | 60.48 Bn | 21.82% |
| 2 | Oracle | 450.04 Bn | 418.14 Bn | - | -9.76% |
| 3 | Palantir Technologies | 418.31 Bn | 408.90 Bn | 1.64 Bn | 62.08% |
| 4 | Palo Alto Networks | 267.65 Bn | 264.54 Bn | 2.03 Bn | 26.25% |
| 5 | CrowdStrike Holdings | 216.60 Bn | 211.59 Bn | 1.10 Bn | 27.59% |
| 6 | Fortinet | 114.71 Bn | 110.64 Bn | 1.64 Bn | 47.15% |
| 7 | Cloudflare | 99.23 Bn | 95.07 Bn | 499.52 Mn | 9.71% |
| 8 | Synopsys | 75.15 Bn | 71.55 Bn | 1.80 Bn | - |
| 9 | Block | 49.78 Bn | 43.36 Bn | 3.17 Bn | -114.17% |
| 10 | CoreWeave | 48.53 Bn | 42.99 Bn | 1.70 Bn | -223.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.15% |
| Mar 31, 2026 | 54.42% |
| Dec 31, 2025 | 30.31% |
| Sep 30, 2025 | 33.88% |
| Jun 30, 2025 | 19.72% |
| Mar 31, 2025 | 51.75% |
| Dec 31, 2024 | 1,221.86% |
| Sep 30, 2024 | 37.92% |
| Jun 30, 2024 | 22.23% |
| Mar 31, 2024 | 44.96% |
| Dec 31, 2023 | 11.65% |
| Sep 30, 2023 | 38.21% |
| Jun 30, 2023 | 35.83% |
| Mar 31, 2023 | 51.27% |
| Dec 31, 2022 | 38.75% |
| Sep 30, 2022 | 34.38% |
| Jun 30, 2022 | 27.52% |
| Mar 31, 2022 | 28.64% |
| Dec 31, 2021 | 485.36% |
| Sep 30, 2021 | 41.64% |