Fortinet (FTNT) Research & Development (2010 - 2026)
Fortinet (FTNT) posted Research & Development of $669.1 million for Q2 2026, up 5.15% on a QoQ basis from $636.3 million in Q1 2026, and up 13.02% year-over-year from $592.0 million in Q2 2025.
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Analysis
Fortinet (FTNT) Research & Development (2010 - 2026) Analysis & Trends
Fortinet has reported Research & Development for 17 years, with the latest figure at $669.1 million in Q2 2026.
- On a quarterly basis, Research & Development rose 13.02% year-over-year to $669.1 million in Q2 2026; TTM through Jun 2026 was $2.5 billion, a 15.67% increase from a year earlier, with the FY2025 full-year figure at $2.3 billion, up 14.8% from the prior year.
- Research & Development was $669.1 million for Q2 2026 at Fortinet, 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.
- Average Research & Development over 5 years is $521.7 million, with a median of $511.6 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Research & Development grew 27.5% in 2022, then dropped 2.83% in 2024.
- Over 5 years, Research & Development stood at $455.9 million in 2022, then increased by 11.3% to $507.4 million in 2023, then gained by 3.76% to $526.5 million in 2024, then gained by 19.53% to $629.3 million in 2025, then climbed by 6.32% to $669.1 million in 2026.
- The last three Research & Development figures came in at $669.1 million (Q2 2026), $636.3 million (Q1 2026), and $629.3 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 1.13 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 509.97 Mn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 669.10 Mn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 611.62 Mn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 477.97 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 208.69 Mn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 253.07 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 273.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 679.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 225.00 Mn |
| Mar 31, 2026 | 214.00 Mn |
| Dec 31, 2025 | 205.00 Mn |
| Sep 30, 2025 | 202.40 Mn |
| Jun 30, 2025 | 209.50 Mn |
| Mar 31, 2025 | 198.60 Mn |
| Dec 31, 2024 | 191.10 Mn |
| Sep 30, 2024 | 187.30 Mn |
| Jun 30, 2024 | 165.40 Mn |
| Mar 31, 2024 | 173.00 Mn |
| Dec 31, 2023 | 152.50 Mn |
| Sep 30, 2023 | 156.90 Mn |
| Jun 30, 2023 | 153.30 Mn |
| Mar 31, 2023 | 151.10 Mn |
| Dec 31, 2022 | 128.90 Mn |
| Sep 30, 2022 | 134.30 Mn |
| Jun 30, 2022 | 124.30 Mn |
| Mar 31, 2022 | 124.90 Mn |
| Dec 31, 2021 | 112.60 Mn |
| Sep 30, 2021 | 107.80 Mn |
API Access
Fortinet Research & Development 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=research-and-development&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();