Fortinet (FTNT) Free Cash Flow (2010 - 2026)
Fortinet's (FTNT) quarterly Free Cash Flow came in at $1.0 billion in Q1 2026, up 21.82% year-on-year from $838.2 million in Q1 2025, and up 11.4% quarter-over-quarter from $916.6 million in Q4 2025.
Fortinet (FTNT) Free Cash Flow (2010 - 2026) Analysis & Trends
Fortinet's Free Cash Flow history runs 17 years deep, the most recent figure standing at $1.0 billion for Q1 2026.
- On a quarterly basis, Free Cash Flow rose 21.82% year-over-year to $1.0 billion in Q1 2026; TTM through Mar 2026 was $2.8 billion, a 25.24% increase from a year earlier, with the FY2025 full-year figure at $2.6 billion, up 14.76% from the prior year.
- Free Cash Flow rose to $1.0 billion in Q1 2026 per FTNT's latest filing, from $916.6 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $1.0 billion in Q1 2026 and bottomed at $192.8 million in Q4 2023.
- The 5-year median for Free Cash Flow is $509.9 million (2023), against an average of $555.3 million.
- Across the five-year window, Free Cash Flow jumped 461.99% in 2022 and plunged 63.77% in 2023, its largest moves.
- Year by year, Free Cash Flow stood at $532.2 million in 2022, then plunged by 63.77% to $192.8 million in 2023, then soared by 281.69% to $735.9 million in 2024, then advanced by 24.55% to $916.6 million in 2025, then increased by 11.4% to $1.0 billion in 2026.
- Per Business Quant, the three latest FTNT Free Cash Flow figures stand at $1.0 billion (Q1 2026), $916.6 million (Q4 2025), and $584.4 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 45.75 Bn |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 223.25 Mn |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | -1.87 Bn |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 891.76 Mn |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 384.00 Mn |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 628.76 Mn |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 1.02 Bn |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | 164.72 Mn |
| 10 | Synopsys | 70.83 Bn | 68.63 Bn | 1.77 Bn | 775.42 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.02 Bn |
| Mar 31, 2026 | 1.02 Bn |
| Dec 31, 2025 | 916.60 Mn |
| Dec 31, 2025 | 916.60 Mn |
| Sep 30, 2025 | 584.40 Mn |
| Sep 30, 2025 | 584.40 Mn |
| Jun 30, 2025 | 321.40 Mn |
| Jun 30, 2025 | 321.40 Mn |
| Mar 31, 2025 | 838.20 Mn |
| Mar 31, 2025 | 838.20 Mn |
| Dec 31, 2024 | 735.90 Mn |
| Dec 31, 2024 | 735.90 Mn |
| Sep 30, 2024 | 349.80 Mn |
| Sep 30, 2024 | 349.80 Mn |
| Jun 30, 2024 | 346.60 Mn |
| Jun 30, 2024 | 346.60 Mn |
| Mar 31, 2024 | 802.80 Mn |
| Mar 31, 2024 | 802.80 Mn |
| Dec 31, 2023 | 192.80 Mn |
| Dec 31, 2023 | 192.80 Mn |