Fortinet (FTNT) Shares Outstanding (2010 - 2026)
Fortinet (FTNT) recorded Shares Outstanding of 733.1 million in Q2 2026, down 4.2% from 765.5 million a year earlier and down 0.8% from the prior quarter.
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Analysis
Fortinet (FTNT) Shares Outstanding (2010 - 2026) Analysis & Trends
For FY2025, Fortinet reported Shares Outstanding of 758 million, down 0.8% from FY2024.
- Annual Shares Outstanding has declined for six straight years, with a five-year compound annual growth rate of -1.6% (FY2020 to FY2025).
- Across earlier years, Shares Outstanding came in at 764.4 million in FY2024 (-1.8%), 778.6 million in FY2023 (-1.6%), 791.4 million in FY2022 (-3.0%) and 816 million in FY2021 (-0.6%).
- The Q2 2026 figure is the lowest quarterly Shares Outstanding since Q4 2010.
- On a year-over-year basis, Shares Outstanding has declined for four consecutive quarters, with an average decline of 1.6% over the last eight quarters.
- Peak year-over-year performance for Shares Outstanding in the last five years was growth of 0.9% in Q3 2021, against a decline of 4.2% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 738.8 million (Q1 2026), 758 million (Q4 2025) and 755.5 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 305.41 Bn | 290.49 Bn | 2.30 Bn | 749.00 Mn |
| 2 | CrowdStrike Holdings | 258.16 Bn | 238.60 Bn | 1.10 Bn | 1.02 Bn |
| 3 | Fortinet | 127.25 Bn | 113.18 Bn | 1.64 Bn | 733.10 Mn |
| 4 | Snowflake | 118.44 Bn | 105.76 Bn | 1.04 Bn | 349.26 Mn |
| 5 | Datadog | 96.25 Bn | 77.89 Bn | 881.34 Mn | 356.25 Mn |
| 6 | Axon Enterprise | 34.94 Bn | 29.46 Bn | 546.45 Mn | 80.57 Mn |
| 7 | MongoDB | 33.06 Bn | 23.53 Bn | 569.77 Mn | 80.50 Mn |
| 8 | Okta | 32.62 Bn | 22.72 Bn | 641.00 Mn | 174.30 Mn |
| 9 | Zscaler | 31.48 Bn | 17.60 Bn | - | 160.22 Mn |
| 10 | Baidu | 29.71 Bn | -43.91 Bn | 1.47 Mn | 34.38 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 733.10 Mn |
| Mar 31, 2026 | 738.80 Mn |
| Dec 31, 2025 | 758.00 Mn |
| Sep 30, 2025 | 755.50 Mn |
| Jun 30, 2025 | 765.50 Mn |
| Mar 31, 2025 | 768.30 Mn |
| Dec 31, 2024 | 764.40 Mn |
| Sep 30, 2024 | 765.00 Mn |
| Jun 30, 2024 | 763.80 Mn |
| Mar 31, 2024 | 762.40 Mn |
| Dec 31, 2023 | 778.60 Mn |
| Sep 30, 2023 | 781.20 Mn |
| Jun 30, 2023 | 785.00 Mn |
| Mar 31, 2023 | 783.20 Mn |
| Dec 31, 2022 | 791.40 Mn |
| Sep 30, 2022 | 786.20 Mn |
| Jun 30, 2022 | 795.40 Mn |
| Mar 31, 2022 | 803.50 Mn |
| Dec 31, 2021 | 816.00 Mn |
| Sep 30, 2021 | 817.50 Mn |
API Access
Fortinet Shares Outstanding 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=shares-outstanding&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();