Fortinet (FTNT) Gross Margin (2010 - 2026)
Fortinet (FTNT) reported Gross Margin of 80.24% for Q2 2026, down 0.44 percentage points from 80.68% a year earlier and down 0.05 percentage points from the prior quarter.
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Analysis
Fortinet (FTNT) Gross Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Fortinet's Gross Margin came in at 80.20%, down 1.08 percentage points year-over-year; for FY2025, it came in at 80.46%, down 0.11 percentage points from FY2024.
- Gross Margin has a five-year change of +2.43 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 80.56% in FY2024 (+3.89 pp), 76.68% in FY2023 (+1.24 pp), 75.44% in FY2022 (-1.13 pp) and 76.57% in FY2021 (-1.46 pp).
- Five-year quarterly Gross Margin spans a low of 73.42% in Q1 2022 and a high of 82.53% in Q3 2024.
- Year over year, Gross Margin has now declined in each of the last five quarters, with an average year-over-year change of +1.09 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q3 2024 (a gain of 6.34 percentage points); the low point was Q1 2022 (a drop of 4.53 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 80.29% (Q1 2026), 79.57% (Q4 2025) and 80.77% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 305.41 Bn | 290.49 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 258.16 Bn | 238.60 Bn | 1.10 Bn | 74.57% |
| 3 | Fortinet | 127.25 Bn | 113.18 Bn | 1.64 Bn | 80.24% |
| 4 | Snowflake | 118.44 Bn | 105.76 Bn | 1.04 Bn | 67.02% |
| 5 | Datadog | 96.25 Bn | 77.89 Bn | 881.34 Mn | 78.59% |
| 6 | Axon Enterprise | 34.94 Bn | 29.46 Bn | 546.45 Mn | 60.42% |
| 7 | MongoDB | 33.06 Bn | 23.53 Bn | 569.77 Mn | 73.83% |
| 8 | Okta | 32.62 Bn | 22.72 Bn | 641.00 Mn | 79.63% |
| 9 | Zscaler | 31.48 Bn | 17.60 Bn | - | - |
| 10 | Baidu | 29.71 Bn | -43.91 Bn | 1.47 Mn | 0.03% |
Historic Data
Download Data
Historic 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 | 81.06% |
| 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 | 76.31% |
| Sep 30, 2021 | 75.65% |
API Access
Fortinet Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "FTNT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();