Fortinet (FTNT) Operating Margin (2010 - 2026)

Fortinet has disclosed Operating Margin across 17 years of filings, most recently posting 31.36% for Q1 2026.

• Operating Margin for Q1 2026 came in at 31.36%, up 188.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 31.1% (down 1180.0% YoY), and the FY2025 annual result was 30.66%, up 38.0% from the prior year.
• Operating Margin came in at 31.36% for Q1 2026 at Fortinet, down from 32.84% in the prior quarter.
• Over the last five years, Operating Margin for FTNT reached as high as 1845.98% in Q4 2024 and fell as low as 15.81% in Q1 2022.
• Median Operating Margin over the past 5 years was 27.89% (2022), compared with a mean of 133.17%.
• Year-over-year, Operating Margin surged 181875 bps in 2024 and sank 181314 bps in 2025.
• Over 5 years, Operating Margin stood at 27.89% in 2022, then dropped by 2 bps to 27.23% in 2023, then surged by 6678 bps to 1845.98% in 2024, then tumbled by 98 bps to 32.84% in 2025, then slipped by 5 bps to 31.36% in 2026.
• Per Business Quant, the three latest FTNT Operating Margin figures stand at 31.36% (Q1 2026), 32.84% (Q4 2025), and 31.73% (Q3 2025).