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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Fortinet (FTNT) Operating Margin (2016 - 2025)

Fortinet has reported Operating Margin over the past 16 years, most recently at 32.84% for Q4 2025.

  • Quarterly results put Operating Margin at 32.84% for Q4 2025, down 181314.0% from a year ago — trailing twelve months through Dec 2025 was 30.66% (down 1102.0% YoY), and the annual figure for FY2025 was 30.66%, up 38.0%.
  • Operating Margin for Q4 2025 was 32.84% at Fortinet, up from 31.73% in the prior quarter.
  • Over the last five years, Operating Margin for FTNT hit a ceiling of 1845.98% in Q4 2024 and a floor of 15.81% in Q1 2022.
  • Median Operating Margin over the past 5 years was 27.56% (2023), compared with a mean of 190.94%.
  • Biggest five-year swings in Operating Margin: soared 181875bps in 2024 and later plummeted -181314bps in 2025.
  • Fortinet's Operating Margin stood at 484.01% in 2021, then plummeted by -94bps to 27.89% in 2022, then decreased by -2bps to 27.23% in 2023, then soared by 6678bps to 1845.98% in 2024, then tumbled by -98bps to 32.84% in 2025.
  • The last three reported values for Operating Margin were 32.84% (Q4 2025), 31.73% (Q3 2025), and 28.1% (Q2 2025) per Business Quant data.