Fortinet (FTNT) Operating Income (2010 - 2026)
Fortinet (FTNT) reported Operating Income of $704.3 million for Q3 2026, up 28.7% from $547.3 million a year earlier and up 2.2% from the prior quarter.
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Analysis
Fortinet (FTNT) Operating Income (2010 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Fortinet's Operating Income came in at $2.6 billion, up 27.8% year-over-year; for FY2025, it was $2.08 billion, up 15.6% from FY2024.
- Operating Income has increased for ten consecutive years, with a five-year compound annual growth rate of 31.4% (FY2020 to FY2025).
- By year, Operating Income came in at $1.8 billion in FY2024 (+45.3%), $1.24 billion in FY2023 (+28.0%), $969.6 million in FY2022 (+49.1%) and $650.4 million in FY2021 (+22.3%).
- The Q3 2026 figure ranks as the highest quarterly Operating Income in data going back to Q2 2010.
- Year over year, Operating Income has now increased in each of the last 35 quarters, with growth averaging 28.4% over the last eight quarters.
- Across the past five years, year-over-year growth in Operating Income ran from 4.8% in Q2 2025 to 81.1% in Q1 2023.
- Per Business Quant data, the three quarters before Q3 2026 came in at $689.3 million (Q2 2026), $580 million (Q1 2026) and $625.6 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 240.27 Bn | 225.34 Bn | 2.30 Bn | 172.00 Mn |
| 2 | CrowdStrike Holdings | 224.09 Bn | 204.49 Bn | 1.10 Bn | -33.23 Mn |
| 3 | Snowflake | 96.12 Bn | 83.44 Bn | 1.04 Bn | -262.97 Mn |
| 4 | Fortinet | 91.32 Bn | 75.57 Bn | 1.64 Bn | 704.30 Mn |
| 5 | Datadog | 63.55 Bn | 44.10 Bn | 959.92 Mn | 74.71 Mn |
| 6 | Zscaler | 33.39 Bn | 19.54 Bn | 689.22 Mn | -15.49 Mn |
| 7 | Axon Enterprise | 32.81 Bn | 27.34 Bn | 546.45 Mn | 46.78 Mn |
| 8 | Okta | 30.03 Bn | 20.13 Bn | 641.00 Mn | 107.00 Mn |
| 9 | MongoDB | 24.91 Bn | 15.38 Bn | 569.77 Mn | 28.40 Mn |
| 10 | Roku | 23.93 Bn | 13.96 Bn | 648.52 Mn | 164.09 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 704.30 Mn |
| Jun 30, 2026 | 689.30 Mn |
| Mar 31, 2026 | 580.00 Mn |
| Dec 31, 2025 | 625.60 Mn |
| Sep 30, 2025 | 547.30 Mn |
| Jun 30, 2025 | 458.00 Mn |
| Mar 31, 2025 | 453.80 Mn |
| Dec 31, 2024 | 574.10 Mn |
| Sep 30, 2024 | 470.90 Mn |
| Jun 30, 2024 | 437.20 Mn |
| Mar 31, 2024 | 321.20 Mn |
| Dec 31, 2023 | 385.40 Mn |
| Sep 30, 2023 | 303.20 Mn |
| Jun 30, 2023 | 279.00 Mn |
| Mar 31, 2023 | 273.50 Mn |
| Dec 31, 2022 | 357.80 Mn |
| Sep 30, 2022 | 265.50 Mn |
| Jun 30, 2022 | 195.30 Mn |
| Mar 31, 2022 | 151.00 Mn |
| Dec 31, 2021 | 214.90 Mn |
API Access
Fortinet Operating Income 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=operating-income&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-income", "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=operating-income&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();