Fortinet

Information Technology Systems Software Sunnyvale, California Last filing Feb 25, 2026 · FY2025

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
BS Assets Cash	$2.5B	$2.9B	$1.4B	$1.7B	$1.3B
BS Assets Short Term Invest	$1.3B	$1.1B	$1.0B	$548.1M	$1.6B
BS Assets Accts Receivable	$1.7B	$1.5B	$1.4B	$1.3B	$807.7M
BS Assets Inventory	$399.5M	$315.5M	$484.8M	$264.6M	$175.8M
BS Assets Prepaid Expenses	$227.0M	$126.1M	$101.1M	$73.1M	$65.4M
BS Assets Other Current Assets	$125.2M	$133.2M	$150.0M	$202.0M	$235.8M
BS Assets Total Current	$5.9B	$6.0B	$4.4B	$3.8B	$3.6B
BS Assets PPE	$1.6B	$1.3B	$1.0B	$898.5M	$687.6M
BS Assets Goodwill	$257.4M	$235.4M	$126.5M	$128.0M	$125.1M
BS Assets Intangible Assets	$97.3M	$115.0M	$35.3M	$56.0M	$63.6M
BS Assets LT Investments	$339.7M	—	—	$45.5M	$440.8M
BS Assets Deferred Tax Assets	$1.3B	$1.3B	$868.8M	$569.4M	$342.3M
BS Assets Other Noncurrent	$125.2M	$133.2M	$150.0M	$202.0M	$235.8M
BS Assets Total	$10.4B	$9.8B	$7.3B	$6.2B	$5.9B
BS Liab Accts Payable	$230.8M	$190.9M	$204.3M	$243.4M	$148.4M
BS Liab Accrued Liab	$354.6M	$337.9M	$423.7M	$266.3M	$197.3M
BS Liab Current Debt	$499.7M	—	—	—	—
BS Liab Other Current	$141.3M	$129.6M	$124.7M	$82.0M	$59.2M
BS Liab Total Current	$5.0B	$4.1B	$3.7B	$3.1B	$2.3B
BS Liab Long Term Debt	$496.6M	$994.3M	$992.3M	$990.4M	$988.4M
BS Liab Deferred Tax Liab	$0	$170.6M	$157.3M	$147.2M	$125.0M
BS Liab Other Noncurrent	$141.3M	$129.6M	$124.7M	$82.0M	$59.2M
BS Liab Total	$9.2B	$8.3B	$7.7B	$6.5B	$5.1B
BS Equity Common Stock	$700.0K	$800.0K	$800.0K	$800.0K	$200.0K
BS Equity APIC	$1.8B	$1.6B	$1.4B	$1.3B	$1.3B
BS Equity Retained Earnings	$-507.9M	$-117.1M	$-1.9B	$-1.5B	$-467.9M
BS Equity AOCI	$-25.4M	$-26.1M	$-18.9M	$-20.2M	$-4.8M
BS Equity Total	$1.2B	$1.5B	$-463.4M	$-281.6M	$781.7M
BS Equity Total Liab and Equity	$10.4B	$9.8B	$7.3B	$6.2B	$5.9B

Income Statement

Revenue, expense, and profitability

20 accounts · 5 years

Revenue $6.8B

Operating income $2.1B

Net income $1.9B

Account	2025	2024	2023	2022	2021
Statement
IS Revenue Total	$6.8B	$6.0B	$5.3B	$4.4B	$3.3B
IS Expense COGS	$1.3B	$1.2B	$1.2B	$1.1B	$783.0M
IS Expense Rn D	$815.5M	$716.8M	$613.8M	$512.4M	$424.2M
IS Expense SGA	$233.4M	$237.8M	$211.3M	$169.0M	$143.5M
IS Expense DA	$152.0M	$122.8M	$113.4M	$104.3M	$84.4M
IS Expense SBC	$279.5M	$257.9M	$249.0M	$217.3M	$207.9M
IS Expense Total Opex	$3.4B	$3.0B	$2.8B	$2.4B	$1.9B
IS Gross Profit	$5.5B	$4.8B	$4.1B	$3.3B	$2.6B
IS Operating Income	$2.1B	$1.8B	$1.2B	$969.6M	$650.4M
IS Interest Income	$162.3M	$155.2M	$119.7M	$17.4M	$4.5M
IS Interest Expense	$20.1M	$20.0M	$21.0M	$18.0M	$14.9M
IS Other Nonop Inc Exp	$55.3M	$119.9M	$-6.1M	$-13.5M	$-11.6M
IS Pre Tax Income	$2.3B	$2.1B	$1.3B	$955.5M	$628.4M
IS Tax Expense	$439.1M	$283.9M	$143.8M	$30.8M	$14.1M
IS net Income	$1.9B	$1.7B	$1.1B	$857.3M	$606.8M
IS Comprehensive Income	$1.9B	$1.7B	$1.1B	$841.9M	$601.3M
IS EPS Basic	$2	$2	$1	$1	$1
IS EPS Diluted	$2	$2	$1	$1	$1
IS Shares Basic	$758.0M	$764.4M	$778.6M	$791.4M	$816.1M
IS Shares Diluted	$764.6M	$771.9M	$788.2M	$805.3M	$835.3M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
CF Ops net Income	$1.9B	$1.7B	$1.1B	$857.3M	$606.8M
CF Ops DA	$152.0M	$122.8M	$113.4M	$104.3M	$84.4M
CF Ops SBC	$279.5M	$257.9M	$249.0M	$217.3M	$207.9M
CF Ops Deferred Tax	$68.3M	$-222.9M	$-306.7M	$-225.6M	$-92.4M
CF Ops Working Capital	$1.2B	$388.8M	$1.6B	$1.9B	$985.8M
CF Ops net Cash	$2.6B	$2.3B	$1.9B	$1.7B	$1.5B
CF Inv Acquisitions	$41.6M	$275.5M	$0	$30.8M	$74.9M
CF Inv Proceeds Investments	$1.8B	$1.9B	$1.4B	$1.5B	$1.5B
CF Inv Other	$-100.0K	$-100.0K	$-300.0K	$0	$-400.0K
CF Inv net Cash	$-599.1M	$-727.4M	$-649.3M	$763.9M	$-1.3B
CF Fin Share Repurchases	$2.3B	$600.0K	$1.5B	$2.0B	$741.8M
CF Fin Stock Issuance	$44.7M	$63.1M	$43.8M	$26.1M	$26.0M
CF Fin Tax Withholding	$126.3M	$100.9M	$112.5M	$160.4M	$167.9M
CF Fin Other	$-100.0K	$-11.7M	$-1.2M	$-4.8M	$-1.0M
CF Fin net Cash	$-2.4B	$-50.1M	$-1.6B	$-2.1B	$82.8M
CF FX Effect	$-600.0K	$-2.6M	$-800.0K	$-400.0K	$-100.0K
CF net Change	$-380.6M	$1.5B	$-285.0M	$363.8M	$257.3M
CF Cash Begin	$2.5B	$2.9B	$1.4B	$1.7B	$1.3B
CF Cash End	$2.5B	$2.9B	$1.4B	$1.7B	$1.3B

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Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

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