Fortinet (FTNT) Free Cash Flow (2010 - 2026)
Fortinet (FTNT) posted Free Cash Flow of $965.6 million for Q2 2026, down 4.06% on a QoQ basis from $1.0 billion in Q1 2026, and up 200.44% year-over-year from $321.4 million in Q2 2025.
Analysis
Fortinet (FTNT) Free Cash Flow (2010 - 2026) Analysis & Trends
Fortinet has reported Free Cash Flow for 17 years, with the latest figure at $965.6 million in Q2 2026.
- On a quarterly basis, Free Cash Flow rose 200.44% year-over-year to $965.6 million in Q2 2026; TTM through Jun 2026 was $3.1 billion, a 51.4% increase from a year earlier, with the FY2025 full-year figure at $2.2 billion, up 18.44% from the prior year.
- Free Cash Flow was $965.6 million for Q2 2026 at Fortinet, down from $1.0 billion in the prior quarter.
- The five-year high for Free Cash Flow was $1.0 billion in Q1 2026, with the low at $164.8 million in Q4 2023.
- Average Free Cash Flow over 5 years is $520.3 million, with a median of $503.6 million recorded in 2022.
- The sharpest annual moves came in 2023 and 2026: Free Cash Flow slumped 66.85% in 2023, then soared 200.44% in 2026.
- Over 5 years, Free Cash Flow stood at $497.2 million in 2022, then plunged by 66.85% to $164.8 million in 2023, then jumped by 130.58% to $380.0 million in 2024, then jumped by 51.95% to $577.4 million in 2025, then surged by 67.23% to $965.6 million in 2026.
- The last three Free Cash Flow figures came in at $965.6 million (Q2 2026), $1.0 billion (Q1 2026), and $577.4 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 270.94 Bn | 267.83 Bn | 2.03 Bn | 788.00 Mn |
| 2 | CrowdStrike Holdings | 218.20 Bn | 213.22 Bn | 1.10 Bn | 405.86 Mn |
| 3 | Fortinet | 114.65 Bn | 110.58 Bn | 1.64 Bn | 965.60 Mn |
| 4 | Axon Enterprise | 41.89 Bn | 41.22 Bn | 546.45 Mn | -972,000.00 |
| 5 | Zscaler | 27.69 Bn | 24.21 Bn | - | - |
| 6 | F5 | 22.19 Bn | 20.58 Bn | 711.51 Mn | 280.61 Mn |
| 7 | Rubrik | 19.41 Bn | 17.66 Bn | 335.12 Mn | 71.25 Mn |
| 8 | Gen Digital | 18.36 Bn | 17.80 Bn | 1.03 Bn | 430.00 Mn |
| 9 | Check Point Software Technologies | 14.47 Bn | 12.19 Bn | 574.10 Mn | 176.70 Mn |
| 10 | SentinelOne | 6.88 Bn | 6.22 Bn | 210.42 Mn | -13.17 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 965.60 Mn |
| Mar 31, 2026 | 1.01 Bn |
| Dec 31, 2025 | 577.40 Mn |
| Sep 30, 2025 | 584.40 Mn |
| Jun 30, 2025 | 321.40 Mn |
| Mar 31, 2025 | 796.80 Mn |
| Dec 31, 2024 | 380.00 Mn |
| Sep 30, 2024 | 571.80 Mn |
| Jun 30, 2024 | 318.90 Mn |
| Mar 31, 2024 | 608.50 Mn |
| Dec 31, 2023 | 164.80 Mn |
| Sep 30, 2023 | 509.90 Mn |
| Jun 30, 2023 | 463.20 Mn |
| Mar 31, 2023 | 647.20 Mn |
| Dec 31, 2022 | 497.20 Mn |
| Sep 30, 2022 | 395.20 Mn |
| Jun 30, 2022 | 283.50 Mn |
| Mar 31, 2022 | 273.50 Mn |
| Dec 31, 2021 | 215.50 Mn |
| Sep 30, 2021 | 361.10 Mn |