$184.05
-6.71
(-3.52%)
As of Oct 15, 2026, 1:48 AM EDT
Price history
Today's analyst average
Analyst average over timeIndividual analyst targets
Analyst history starts Jul 30, 2026, the first target we tracked for FTNT.
Fortinet (FTNT) is trading down at $184.05 (-3.52%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Information Technology sector.
Analyst price targets on FTNT
Current price targets from 2 firms average $184, ranging from $183 to $185 — 0% below the current $184. Each is tracked to its date and scored the same way a member's call is.
- Cantor Fitzgerald $154 → $185 by Jul 2027 Jul 30, 2026 via Investing.com · Cantor Fitzgerald's track record
- Truist Securities $154 → $183 by Jul 2027 Jul 30, 2026 via Investing.com · Truist Securities's track record
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
Fortinet revenue & net income history (FY2016–FY2025)
RevenueNet incomeNet margin (right axis, %)
| FY2016Dec 2016 | FY2017Dec 2017 | FY2018Dec 2018 | FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.28B | $1.49B | $1.80B | $2.16B | $2.59B | $3.34B | $4.42B | $5.30B | $5.96B | $6.80B |
| Growth (year over year) | +26.4% | +17.2% | +20.7% | +19.9% | +19.9% | +28.8% | +32.2% | +20.1% | +12.3% | +14.2% |
| Gross profit | $937.6M | $1.11B | $1.35B | $1.66B | $2.02B | $2.56B | $3.33B | $4.07B | $4.80B | $5.47B |
| Gross margin | 73.5% | 74.2% | 75.0% | 76.6% | 78.0% | 76.6% | 75.4% | 76.7% | 80.6% | 80.5% |
| Operating income | $42.9M | $109.8M | $234.4M | $351.0M | $531.8M | $650.4M | $969.6M | $1.24B | $1.80B | $2.08B |
| Operating margin | 3.4% | 7.3% | 13.0% | 16.2% | 20.5% | 19.5% | 21.9% | 23.4% | 30.3% | 30.7% |
| Net income | $32.2M | $31.4M | $334.9M | $331.7M | $488.5M | $606.8M | $857.3M | $1.15B | $1.75B | $1.85B |
| Net margin | 2.5% | 2.1% | 18.6% | 15.3% | 18.8% | 18.2% | 19.4% | 21.6% | 29.3% | 27.3% |
| EPS (diluted) | $0.04 | $0.04 | $0.38 | $0.38 | $0.58 | $0.73 | $1.06 | $1.46 | $2.26 | $2.42 |
| Balance sheet | ||||||||||
| Cash and equivalents | $709.0M | $811.0M | $1.11B | $1.22B | $1.06B | $1.32B | $1.68B | $1.40B | $2.88B | $2.50B |
| Total assets | $2.14B | $2.26B | $3.08B | $3.88B | $4.04B | $5.92B | $6.23B | $7.26B | $9.76B | $10.4B |
| Total liabilities | $1.30B | $1.67B | $2.07B | $2.54B | $3.19B | $5.12B | $6.51B | $7.72B | $8.27B | $9.15B |
| Long-term debt | — | — | — | — | $0 | $988.4M | $990.4M | $992.3M | $994.3M | $496.6M |
| Shareholders' equity | $837.7M | $602.0M | $1.03B | $1.34B | $856.0M | $781.7M | −$281.6M | −$463.4M | $1.49B | $1.24B |
| Cash flow | ||||||||||
| Operating cash flow | $345.7M | $594.4M | $638.9M | $808.0M | $1.08B | $1.50B | $1.73B | $1.94B | $2.26B | $2.59B |
| Capital expenditure | $67.2M | $135.3M | $53.0M | $92.2M | $125.9M | $295.9M | $281.2M | $204.1M | $378.9M | $364.8M |
| Free cash flow | $278.5M | $459.1M | $585.9M | $715.8M | $957.8M | $1.20B | $1.45B | $1.73B | $1.88B | $2.23B |
| Share buybacks | $110.8M | $446.3M | $211.8M | $145.1M | $1.08B | $741.8M | $1.99B | $1.50B | $600.0K | $2.29B |
RevenueNet incomeNet margin (right axis, %)
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $1.51B | $1.66B | $1.54B | $1.63B | $1.72B | $1.91B | $1.85B | $2.05B |
| Growth (year over year) | +13.0% | +17.3% | +13.8% | +13.6% | +14.4% | +14.8% | +20.1% | +25.6% |
| Gross profit | $1.24B | $1.35B | $1.25B | $1.32B | $1.39B | $1.52B | $1.49B | $1.64B |
| Gross margin | 82.5% | 81.1% | 81.0% | 80.7% | 80.8% | 79.6% | 80.3% | 80.2% |
| Operating income | $470.9M | $574.1M | $453.8M | $458.0M | $547.3M | $625.6M | $580.0M | $689.3M |
| Operating margin | 31.2% | 34.6% | 29.5% | 28.1% | 31.7% | 32.8% | 31.4% | 33.7% |
| Net income | $539.9M | $526.2M | $433.4M | $440.1M | $473.9M | $506.0M | $534.5M | $606.3M |
| Net margin | 35.8% | 31.7% | 28.1% | 27.0% | 27.5% | 26.6% | 28.9% | 29.6% |
| EPS (diluted) | $0.70 | $0.68 | $0.56 | $0.57 | $0.62 | $0.67 | $0.72 | $0.82 |
| Balance sheet | ||||||||
| Cash and equivalents | $2.49B | $2.88B | $3.60B | $3.37B | $2.00B | $2.50B | $2.22B | $2.93B |
| Total assets | $8.85B | $9.76B | $10.4B | $10.6B | $9.36B | $10.4B | $9.88B | $10.9B |
| Total liabilities | $7.94B | $8.27B | $8.44B | $8.58B | $8.63B | $9.15B | $8.89B | $9.31B |
| Long-term debt | $993.8M | $994.3M | $496.2M | $496.3M | $496.5M | $496.6M | $496.8M | $496.9M |
| Shareholders' equity | $908.1M | $1.49B | $1.96B | $2.06B | $735.1M | $1.24B | $989.7M | $1.55B |
| Cash flow | ||||||||
| Operating cash flow | $608.1M | $477.6M | $863.3M | $451.9M | $655.2M | $620.2M | $1.08B | $1.04B |
| Capital expenditure | $36.3M | $97.6M | $66.5M | $167.8M | $87.7M | $42.8M | $70.6M | $78.0M |
| Free cash flow | $571.8M | $380.0M | $796.8M | $284.1M | $567.5M | $577.4M | $1.01B | $965.6M |
| Share buybacks | $600.0K | $0 | $0 | $401.1M | $1.83B | $57.2M | $823.0M | $149.8M |
From Fortinet's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About Fortinet
Fortinet, Inc. is an American cybersecurity company headquartered in Sunnyvale, California. It develops and sells security products including firewalls, endpoint security and intrusion detection systems. Fortinet has offices in the US, Canada, and UK.
- Headquarters
- Sunnyvale, California From SEC filings, Oct 2026
Recent News (20)
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Atos expands partnership with Fortinet to deliver a global unified cybersecurity framework across hybrid and multi-cloud environments Atos expands partnership with Fortinet to deliver a global unified cybersecurity framework across hybrid and multi-cloud environments
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Fortinet: An Excellent Business Whose Stock Has Run Ahead Of Its Value (Downgrade) (FTNT) Fortinet: An Excellent Business Whose Stock Has Run Ahead Of Its Value (Downgrade) (FTNT) Seeking Alpha
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Fortinet stock hits all-time high at 192.55 USD
Fortinet stock hits all-time high at 192.55 USD
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Fortinet stock initiated at Outperform by Yorkville Ives, $225 target
Fortinet stock initiated at Outperform by Yorkville Ives, $225 target
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Fortinet CFO Christiane Ohlgart sells $8,640 in company stock
Fortinet CFO Christiane Ohlgart sells $8,640 in company stock
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Why Fortinet Stock Zoomed Almost 9% Higher This Week
Why Fortinet Stock Zoomed Almost 9% Higher This Week
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Fortinet Expands U.S. Presence with New Company-Owned Innovation Hub in New York City New Fortinet Innovation Hub will strengthen collaboration with customers and partners New Fortinet Innovation Hub will strengthen collaboration with customers and partners
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Fortinet Named a Leader in the 2026 Gartner® Magic Quadrant™ Report for Hybrid Mesh Firewall Proven customer adoption across the broadest range of enterprise environments and continued innovation in AI, networking, cloud, and quantum security Proven customer adoption across the broadest rang…
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Is Fortinet Stock Outperforming the S&P 500?
Is Fortinet Stock Outperforming the S&P 500?
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Cisco Expands Secure AI Factory: Can it Outpace PANW & FTNT? Cisco Expands Secure AI Factory: Can it Outpace PANW & FTNT? qz.com
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Palo Alto Sinks 8% Despite 34% Revenue Growth, CrowdStrike Falls 3%, Fortinet Slips
Palo Alto Sinks 8% Despite 34% Revenue Growth, CrowdStrike Falls 3%, Fortinet Slips
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Fortinet launches free cybersecurity curriculum for U.S. high schools
Fortinet launches free cybersecurity curriculum for U.S. high schools
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Stanford Athletics and Cybersecurity Leader Fortinet Team Up for Multi-Year Sponsorship Partnership with global cybersecurity leader Fortinet will help advance the student-athlete experience Partnership with global cybersecurity leader Fortinet will help advance the student-athlete expe…
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Fortinet stock hits all-time high at 172.25 USD
Fortinet stock hits all-time high at 172.25 USD
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Fortinet Federal Achieves CMMC Level 2 Certification Certification validates the implementation of required cybersecurity safeguards within Fortinet Federal's assessed environment Certification validates the implementation of required cybersecurity saf…
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Fortinet Sees Surging Hardware, SASE Demand as AI and OT Security Fuel Growth
Fortinet Sees Surging Hardware, SASE Demand as AI and OT Security Fuel Growth
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Fortinet Stock Is Still a Buy After Hitting New All-Time Highs
Fortinet Stock Is Still a Buy After Hitting New All-Time Highs
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