Fortinet (FTNT) Shares Outstanding (Diluted) (2010 - 2026)
Fortinet's Weighted Average Shares Outstanding (Diluted) came in at 739.9 million for Q3 2026, down 2.8% from 761.2 million a year earlier and unchanged from the prior quarter.
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Analysis
Fortinet (FTNT) Shares Outstanding (Diluted) (2010 - 2026) Analysis & Trends
For FY2025, Fortinet's Weighted Average Shares Outstanding (Diluted) was 764.6 million, down 0.9% from FY2024.
- Weighted Average Shares Outstanding (Diluted) has declined in each of the last six years, with a five-year compound annual growth rate of -1.8% (FY2020 to FY2025).
- Going back by year, Weighted Average Shares Outstanding (Diluted) was 771.9 million in FY2024 (-2.1%), 788.2 million in FY2023 (-2.1%), 805.3 million in FY2022 (-3.6%) and 835.5 million in FY2021 (-0.4%).
- The five-year range for quarterly Weighted Average Shares Outstanding (Diluted) is 739.9 million (Q2 2026) to 835.5 million (Q4 2021).
- Year-over-year, Weighted Average Shares Outstanding (Diluted) has declined for five consecutive quarters, with an average decline of 1.8% over the last eight quarters.
- The fastest year-over-year change in Weighted Average Shares Outstanding (Diluted) over five years came in Q1 2025 (growth of 0.8%), and the weakest in Q3 2022 (a decline of 4.8%).
- Business Quant data shows FTNT's Weighted Average Shares Outstanding (Diluted) at 739.9 million (Q2 2026), 742.8 million (Q1 2026) and 764.6 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 235.00 Bn | 220.07 Bn | 2.30 Bn | 764.00 Mn |
| 2 | CrowdStrike Holdings | 221.18 Bn | 201.58 Bn | 1.10 Bn | 1.04 Bn |
| 3 | Snowflake | 96.49 Bn | 83.81 Bn | 1.04 Bn | 349.26 Mn |
| 4 | Fortinet | 87.26 Bn | 71.51 Bn | 1.64 Bn | 742.60 Mn |
| 5 | Datadog | 64.27 Bn | 44.82 Bn | 959.92 Mn | 375.01 Mn |
| 6 | Zscaler | 31.67 Bn | 17.82 Bn | 689.22 Mn | 160.22 Mn |
| 7 | Okta | 29.42 Bn | 19.51 Bn | 641.00 Mn | 178.81 Mn |
| 8 | Axon Enterprise | 25.30 Bn | 19.82 Bn | 546.45 Mn | 82.54 Mn |
| 9 | MongoDB | 25.20 Bn | 15.67 Bn | 569.77 Mn | 82.00 Mn |
| 10 | Roku | 23.89 Bn | 13.92 Bn | 648.52 Mn | 152.64 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 742.60 Mn |
| Jun 30, 2026 | 739.90 Mn |
| Mar 31, 2026 | 742.80 Mn |
| Dec 31, 2025 | 764.60 Mn |
| Sep 30, 2025 | 761.20 Mn |
| Jun 30, 2025 | 772.70 Mn |
| Mar 31, 2025 | 776.80 Mn |
| Dec 31, 2024 | 771.90 Mn |
| Sep 30, 2024 | 771.90 Mn |
| Jun 30, 2024 | 769.90 Mn |
| Mar 31, 2024 | 770.50 Mn |
| Dec 31, 2023 | 788.20 Mn |
| Sep 30, 2023 | 791.20 Mn |
| Jun 30, 2023 | 795.90 Mn |
| Mar 31, 2023 | 793.40 Mn |
| Dec 31, 2022 | 805.30 Mn |
| Sep 30, 2022 | 798.60 Mn |
| Jun 30, 2022 | 810.10 Mn |
| Mar 31, 2022 | 821.00 Mn |
| Dec 31, 2021 | 835.50 Mn |
API Access
Fortinet Shares Outstanding (Diluted) 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-diluted&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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-diluted&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();