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.
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 21.82% |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | -9.76% |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 62.08% |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 26.25% |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 47.15% |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 9.71% |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 32.19% |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | -223.03% |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | -114.17% |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 46.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 47.15% |
| Mar 31, 2026 | 55.21% |
| Dec 31, 2025 | 48.12% |
| Sep 30, 2025 | 33.88% |
| Jun 30, 2025 | 19.72% |
| Mar 31, 2025 | 54.44% |
| Dec 31, 2024 | 2,366.24% |
| Sep 30, 2024 | 23.19% |
| Jun 30, 2024 | 24.17% |
| Mar 31, 2024 | 59.32% |
| Dec 31, 2023 | 13.62% |
| Sep 30, 2023 | 38.21% |
| Jun 30, 2023 | 35.83% |
| Mar 31, 2023 | 51.27% |
| Dec 31, 2022 | 41.48% |
| Sep 30, 2022 | 41.68% |
| Jun 30, 2022 | 30.82% |
| Mar 31, 2022 | 39.86% |
| Dec 31, 2021 | 213.29% |
| Sep 30, 2021 | 41.64% |