Fortinet (FTNT) Invested Capital (2020 - 2026)
Fortinet (FTNT) posted Invested Capital of $2.0 billion for Q2 2026, up 37.77% on a QoQ basis from $1.5 billion in Q1 2026, and down 32.98% year-over-year from $3.1 billion in Q2 2025.
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Analysis
Fortinet (FTNT) Invested Capital (2020 - 2026) Analysis & Trends
Fortinet has reported Invested Capital for 7 years, with the latest figure at $2.0 billion in Q2 2026.
- On a quarterly basis, Invested Capital fell 32.98% year-over-year to $2.0 billion in Q2 2026; TTM through Jun 2026 was $2.0 billion, a 32.98% decrease from a year earlier, with the FY2025 full-year figure at $2.2 billion, down 10.22% from the prior year.
- Invested Capital was $2.0 billion for Q2 2026 at Fortinet, up from $1.5 billion in the prior quarter.
- The five-year high for Invested Capital was $3.1 billion in Q2 2025, with the low at $355.2 million in Q3 2022.
- Average Invested Capital over 5 years is $1.5 billion, with a median of $1.3 billion recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Invested Capital sank 83.41% in 2022, then surged 370.43% in 2024.
- Over 5 years, Invested Capital stood at $708.8 million in 2022, then decreased by 25.38% to $528.9 million in 2023, then surged by 370.43% to $2.5 billion in 2024, then retreated by 10.22% to $2.2 billion in 2025, then declined by 8.32% to $2.0 billion in 2026.
- The last three Invested Capital figures came in at $2.0 billion (Q2 2026), $1.5 billion (Q1 2026), and $2.2 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | - |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 5.89 Bn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 2.05 Bn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | - |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | - |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 5.41 Bn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | - |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 6.97 Bn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 48.66 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.05 Bn |
| Mar 31, 2026 | 1.49 Bn |
| Dec 31, 2025 | 2.23 Bn |
| Sep 30, 2025 | 1.73 Bn |
| Jun 30, 2025 | 3.06 Bn |
| Mar 31, 2025 | 2.96 Bn |
| Dec 31, 2024 | 2.49 Bn |
| Sep 30, 2024 | 1.90 Bn |
| Jun 30, 2024 | 1.28 Bn |
| Mar 31, 2024 | 855.30 Mn |
| Dec 31, 2023 | 528.90 Mn |
| Sep 30, 2023 | 1.07 Bn |
| Jun 30, 2023 | 1.31 Bn |
| Mar 31, 2023 | 1.00 Bn |
| Dec 31, 2022 | 708.80 Mn |
| Sep 30, 2022 | 355.20 Mn |
| Jun 30, 2022 | 609.80 Mn |
| Mar 31, 2022 | 1.22 Bn |
| Dec 31, 2021 | 1.79 Bn |
| Sep 30, 2021 | 2.14 Bn |
API Access
Fortinet Invested Capital 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=invested-capital&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();