Fortinet (FTNT) Net Margin (2010 - 2026)
Fortinet's Net Margin came in at 29.61% for Q2 2026, up 2.61 percentage points from 27.00% a year earlier and up 0.71 percentage points from the prior quarter.
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Analysis
Fortinet (FTNT) Net Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Fortinet reported Net Margin of 28.17%, down 2.43 percentage points year-over-year; for FY2025, it was 27.26%, down 2.05 percentage points from FY2024.
- Net Margin carries a five-year change of +8.43 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 29.30% in FY2024 (+7.67 pp), 21.64% in FY2023 (+2.23 pp), 19.41% in FY2022 (+1.25 pp) and 18.16% in FY2021 (-0.67 pp).
- The Q2 2026 figure represents the highest quarterly Net Margin since Q4 2024.
- Year-over-year, Net Margin increased in six of the last eight quarters, with an average year-over-year change of +2.22 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q3 2024 (a gain of 11.61 percentage points), and the weakest in Q3 2025 (a drop of 8.33 percentage points).
- Business Quant data shows FTNT's Net Margin at 28.90% (Q1 2026), 26.56% (Q4 2025) and 27.47% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 305.41 Bn | 290.49 Bn | 2.30 Bn | -8.27% |
| 2 | CrowdStrike Holdings | 258.16 Bn | 238.60 Bn | 1.10 Bn | 0.36% |
| 3 | Fortinet | 127.25 Bn | 113.18 Bn | 1.64 Bn | 29.61% |
| 4 | Snowflake | 118.44 Bn | 105.76 Bn | 1.04 Bn | -12.39% |
| 5 | Datadog | 96.25 Bn | 77.89 Bn | 881.34 Mn | 3.97% |
| 6 | Axon Enterprise | 34.94 Bn | 29.46 Bn | 546.45 Mn | 3.25% |
| 7 | MongoDB | 33.06 Bn | 23.53 Bn | 569.77 Mn | 5.30% |
| 8 | Okta | 32.62 Bn | 22.72 Bn | 641.00 Mn | 14.41% |
| 9 | Zscaler | 31.48 Bn | 17.60 Bn | - | - |
| 10 | Baidu | 29.71 Bn | -43.91 Bn | 1.47 Mn | 7.38% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 29.61% |
| Mar 31, 2026 | 28.90% |
| Dec 31, 2025 | 26.56% |
| Sep 30, 2025 | 27.47% |
| Jun 30, 2025 | 27.00% |
| Mar 31, 2025 | 28.15% |
| Dec 31, 2024 | 31.70% |
| Sep 30, 2024 | 35.80% |
| Jun 30, 2024 | 26.48% |
| Mar 31, 2024 | 22.12% |
| Dec 31, 2023 | 21.97% |
| Sep 30, 2023 | 24.19% |
| Jun 30, 2023 | 20.60% |
| Mar 31, 2023 | 19.62% |
| Dec 31, 2022 | 24.46% |
| Sep 30, 2022 | 20.15% |
| Jun 30, 2022 | 16.84% |
| Mar 31, 2022 | 14.50% |
| Dec 31, 2021 | 20.65% |
| Sep 30, 2021 | 18.81% |
API Access
Fortinet Net 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=net-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();