Fortinet (FTNT) Gross Margin (2010 - 2026)
Fortinet (FTNT) posted quarterly Gross Margin of 80.24% for Q2 2026, down 44.0% year-over-year from 143.28% in Q2 2025, and little changed quarter-over-quarter from 80.29% in Q1 2026.
Fortinet (FTNT) Gross Margin (2010 - 2026) Analysis & Trends
Fortinet's Gross Margin history runs 17 years deep, the most recent figure standing at 80.24% for Q2 2026.
- In Q2 2026, Gross Margin fell 44.0% year-over-year to 80.24%; the TTM figure through Jun 2026 stood at 80.2% (down 2921.0% YoY), while the FY2025 annual figure was 80.46%, down 11.0% from the prior year.
- Gross Margin for Q2 2026 stood at 80.24%, roughly flat from 80.29% in the prior quarter.
- The five-year high for Gross Margin was 4326.69% in Q4 2024, with the low at 73.42% in Q1 2022.
- The 5-year median for Gross Margin is 78.62% (2023), against an average of 314.33%.
- The sharpest annual moves came in 2024 and 2025: Gross Margin soared 424901 bps in 2024, then sank 424712 bps in 2025.
- Fortinet's Gross Margin stood at 76.83% in 2022, then gained by 1 bps to 77.68% in 2023, then soared by 5470 bps to 4326.69% in 2024, then tumbled by 98 bps to 79.57% in 2025, then gained by 1 bps to 80.24% in 2026.
- Business Quant data shows FTNT's Gross Margin at 80.24% in Q2 2026, 80.29% in Q1 2026, and 79.57% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 67.20% |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | - |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 84.66% |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 47.84% |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 70.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 80.24% |
| Mar 31, 2026 | 80.29% |
| Dec 31, 2025 | 79.57% |
| Sep 30, 2025 | 80.77% |
| Jun 30, 2025 | 80.68% |
| Mar 31, 2025 | 80.96% |
| Dec 31, 2024 | 4,326.69% |
| Sep 30, 2024 | 82.53% |
| Jun 30, 2024 | 80.83% |
| Mar 31, 2024 | 77.48% |
| Dec 31, 2023 | 77.68% |
| Sep 30, 2023 | 76.20% |
| Jun 30, 2023 | 77.12% |
| Mar 31, 2023 | 75.62% |
| Dec 31, 2022 | 76.83% |
| Sep 30, 2022 | 75.38% |
| Jun 30, 2022 | 75.65% |
| Mar 31, 2022 | 73.42% |
| Dec 31, 2021 | 1,656.08% |
| Sep 30, 2021 | 75.65% |