Fortinet (FTNT) Research & Development (2010 - 2026)
Fortinet (FTNT) posted quarterly Research & Development of $669.1 million for Q2 2026, up 13.02% year-over-year from $592.0 million in Q2 2025, and up 5.15% quarter-over-quarter from $636.3 million in Q1 2026.
Analysis
Fortinet (FTNT) Research & Development (2010 - 2026) Analysis & Trends
Fortinet's Research & Development history runs 17 years deep, the most recent figure standing at $669.1 million for Q2 2026.
- In Q2 2026, Research & Development rose 13.02% year-over-year to $669.1 million; the TTM figure through Jun 2026 stood at $2.5 billion (up 15.67% YoY), while the FY2025 annual figure was $2.3 billion, up 14.8% from the prior year.
- Research & Development for Q2 2026 stood at $669.1 million, up from $636.3 million in the prior quarter.
- The five-year high for Research & Development was $669.1 million in Q2 2026, with the low at $387.6 million in Q1 2022.
- The 5-year median for Research & Development is $511.6 million (2023), against an average of $521.7 million.
- The sharpest annual moves came in 2022 and 2024: Research & Development advanced 27.5% in 2022, then decreased 2.83% in 2024.
- Fortinet's Research & Development stood at $455.9 million in 2022, then climbed by 11.3% to $507.4 million in 2023, then increased by 3.76% to $526.5 million in 2024, then increased by 19.53% to $629.3 million in 2025, then gained by 6.32% to $669.1 million in 2026.
- Business Quant data shows FTNT's Research & Development at $669.1 million in Q2 2026, $636.3 million in Q1 2026, and $629.3 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,723.41 Bn | 3,590.66 Bn | 60.48 Bn | 10.00 Bn |
| 2 | Oracle | 452.42 Bn | 420.53 Bn | - | 2.61 Bn |
| 3 | Palantir Technologies | 420.40 Bn | 410.99 Bn | 1.64 Bn | 339.50 Mn |
| 4 | Palo Alto Networks | 267.97 Bn | 264.86 Bn | 2.03 Bn | 1.16 Bn |
| 5 | CrowdStrike Holdings | 218.03 Bn | 213.02 Bn | 1.10 Bn | 509.97 Mn |
| 6 | Fortinet | 114.68 Bn | 110.61 Bn | 1.64 Bn | 669.10 Mn |
| 7 | Cloudflare | 100.09 Bn | 95.93 Bn | 499.52 Mn | 276.12 Mn |
| 8 | Synopsys | 75.63 Bn | 72.02 Bn | 1.80 Bn | 719.74 Mn |
| 9 | Block | 49.79 Bn | 43.36 Bn | 3.17 Bn | 664.96 Mn |
| 10 | CoreWeave | 48.54 Bn | 43.00 Bn | 1.70 Bn | 60.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 669.10 Mn |
| Mar 31, 2026 | 636.30 Mn |
| Dec 31, 2025 | 629.30 Mn |
| Sep 30, 2025 | 583.50 Mn |
| Jun 30, 2025 | 592.00 Mn |
| Mar 31, 2025 | 542.70 Mn |
| Dec 31, 2024 | 526.50 Mn |
| Sep 30, 2024 | 515.90 Mn |
| Jun 30, 2024 | 501.30 Mn |
| Mar 31, 2024 | 501.10 Mn |
| Dec 31, 2023 | 507.40 Mn |
| Sep 30, 2023 | 504.40 Mn |
| Jun 30, 2023 | 515.90 Mn |
| Mar 31, 2023 | 478.30 Mn |
| Dec 31, 2022 | 455.90 Mn |
| Sep 30, 2022 | 427.10 Mn |
| Jun 30, 2022 | 415.50 Mn |
| Mar 31, 2022 | 387.60 Mn |
| Dec 31, 2021 | 367.70 Mn |
| Sep 30, 2021 | 347.10 Mn |