Fortinet annual free cash flow
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Fortinet Free Cash Flow (FCF) History (FTNT)
Fortinet reported $2.23B in free cash flow for fiscal 2025, an increase of 18.44% from the previous fiscal year, with a free cash flow margin of 32.73%.
View full Fortinet company overviewFortinet free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.23B | $346.6M | +18.44% | +32.73% |
| 2024 | 2024-12-31 | $1.88B | $147.8M | +8.54% | +31.55% |
| 2023 | 2023-12-31 | $1.73B | $282.0M | +19.46% | +32.64% |
| 2022 | 2022-12-31 | $1.45B | $245.6M | +20.40% | +32.81% |
| 2021 | 2021-12-31 | $1.20B | $246.0M | +25.68% | +36.02% |
| 2020 | 2020-12-31 | $957.8M | $242.0M | +33.81% | +36.92% |
| 2019 | 2019-12-31 | $715.8M | $129.9M | +22.17% | +33.09% |
| 2018 | 2018-12-31 | $585.9M | $126.8M | +27.62% | +32.47% |
| 2017 | 2017-12-31 | $459.1M | $180.6M | +64.85% | +30.71% |
| 2016 | 2016-12-31 | $278.5M | $33.3M | +13.59% | +21.84% |
| 2015 | 2015-12-31 | $245.2M | $80.8M | +49.16% | +24.29% |
| 2014 | 2014-12-31 | $164.4M | $30.9M | +23.13% | +21.34% |
| 2013 | 2013-12-31 | $133.5M | −$28.3M | −17.48% | +21.70% |
| 2012 | 2012-12-31 | $161.8M | $32.6M | +25.20% | +30.32% |
| 2011 | 2011-12-31 | $129.2M | $29.6M | +29.73% | +29.80% |
| 2010 | 2010-12-31 | $99.6M | $42.2M | +73.59% | +30.68% |
| 2009 | 2009-12-31 | $57.4M | — | — | +22.76% |
Fortinet quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $965.6M | $681.5M | +239.88% | +47.15% |
| Q1 2026 | 2026-03-31 | $1.01B | $209.7M | +26.32% | +54.42% |
| Q4 2025 | 2025-12-31 | $577.4M | $197.4M | +51.95% | +30.31% |
| Q3 2025 | 2025-09-30 | $567.5M | −$4.3M | −0.75% | +32.90% |
| Q2 2025 | 2025-06-30 | $284.1M | −$34.8M | −10.91% | +17.43% |
| Q1 2025 | 2025-03-31 | $796.8M | $188.3M | +30.94% | +51.75% |
| Q4 2024 | 2024-12-31 | $380.0M | $215.2M | +130.58% | +22.89% |
| Q3 2024 | 2024-09-30 | $571.8M | $90.7M | +18.85% | +37.92% |
| Q2 2024 | 2024-06-30 | $318.9M | −$119.4M | −27.24% | +22.23% |
| Q1 2024 | 2024-03-31 | $608.5M | −$38.7M | −5.98% | +44.96% |
| Q4 2023 | 2023-12-31 | $164.8M | −$332.4M | −66.85% | +11.65% |
| Q3 2023 | 2023-09-30 | $481.1M | $85.9M | +21.74% | +36.05% |
| Q2 2023 | 2023-06-30 | $438.3M | $154.8M | +54.60% | +33.90% |
| Q1 2023 | 2023-03-31 | $647.2M | $373.7M | +136.64% | +51.27% |
| Q4 2022 | 2022-12-31 | $497.2M | $281.7M | +130.72% | +38.75% |
| Q3 2022 | 2022-09-30 | $395.2M | $65.4M | +19.83% | +34.38% |
| Q2 2022 | 2022-06-30 | $283.5M | −$111.2M | −28.17% | +27.52% |
| Q1 2022 | 2022-03-31 | $273.5M | $9.7M | +3.68% | +28.64% |
| Q4 2021 | 2021-12-31 | $215.5M | −$48.7M | −18.43% | +22.36% |
| Q3 2021 | 2021-09-30 | $329.8M | $144.1M | +77.60% | +38.03% |
| Q2 2021 | 2021-06-30 | $394.7M | $178.6M | +82.65% | +49.27% |
| Q1 2021 | 2021-03-31 | $263.8M | −$28.0M | −9.60% | +37.14% |
| Q4 2020 | 2020-12-31 | $264.2M | $121.0M | +84.50% | +35.32% |
| Q3 2020 | 2020-09-30 | $185.7M | −$18.0M | −8.84% | +28.52% |
| Q2 2020 | 2020-06-30 | $216.1M | $38.3M | +21.54% | +34.99% |
| Q1 2020 | 2020-03-31 | $291.8M | $100.7M | +52.69% | +50.51% |
| Q4 2019 | 2019-12-31 | $143.2M | −$25.4M | −15.07% | +23.07% |
| Q3 2019 | 2019-09-30 | $203.7M | $45.2M | +28.52% | +37.16% |
| Q2 2019 | 2019-06-30 | $177.8M | $47.1M | +36.04% | +34.08% |
| Q1 2019 | 2019-03-31 | $191.1M | $63.0M | +49.18% | +40.44% |
| Q4 2018 | 2018-12-31 | $168.6M | $24.8M | +17.25% | +33.03% |
| Q3 2018 | 2018-09-30 | $158.5M | $17.8M | +12.65% | +34.92% |
| Q2 2018 | 2018-06-30 | $130.7M | $72.3M | +123.80% | +29.62% |
| Q1 2018 | 2018-03-31 | $128.1M | $11.9M | +10.24% | +32.11% |
| Q4 2017 | 2017-12-31 | $143.8M | $59.7M | +70.89% | +34.52% |
| Q3 2017 | 2017-09-30 | $140.7M | $70.5M | +100.37% | +37.60% |
| Q2 2017 | 2017-06-30 | $58.4M | $4.9M | +9.16% | +16.07% |
| Q1 2017 | 2017-03-31 | $116.2M | $45.6M | +64.51% | +34.12% |
| Q4 2016 | 2016-12-31 | $84.1M | $23.9M | +39.75% | +23.19% |
| Q3 2016 | 2016-09-30 | $70.2M | $18.5M | +35.72% | +22.18% |
| Q2 2016 | 2016-06-30 | $53.5M | −$20.0M | −27.26% | +17.18% |
| Q1 2016 | 2016-03-31 | $70.6M | $10.9M | +18.33% | +24.82% |
| Q4 2015 | 2015-12-31 | $60.2M | $30.2M | +100.92% | +20.31% |
| Q3 2015 | 2015-09-30 | $51.7M | $1.0M | +1.97% | +19.89% |
| Q2 2015 | 2015-06-30 | $73.5M | $39.5M | +115.71% | +30.67% |
| Q1 2015 | 2015-03-31 | $59.7M | $10.1M | +20.39% | +28.04% |
| Q4 2014 | 2014-12-31 | $30.0M | −$9.6M | −24.17% | +13.38% |
| Q3 2014 | 2014-09-30 | $50.7M | $28.5M | +128.30% | +26.24% |
| Q2 2014 | 2014-06-30 | $34.1M | −$1.1M | −3.10% | +18.52% |
| Q1 2014 | 2014-03-31 | $49.6M | $13.0M | +35.56% | +29.35% |
| Q4 2013 | 2013-12-31 | $39.5M | −$9.0M | −18.50% | +22.28% |
| Q3 2013 | 2013-09-30 | $22.2M | −$2.1M | −8.70% | +14.37% |
| Q2 2013 | 2013-06-30 | $35.2M | −$6.9M | −16.33% | +23.87% |
| Q1 2013 | 2013-03-31 | $36.6M | −$10.3M | −22.00% | +26.93% |
| Q4 2012 | 2012-12-31 | $48.5M | $26.8M | +123.26% | +32.08% |
| Q3 2012 | 2012-09-30 | $24.3M | −$10.4M | −29.86% | +17.86% |
| Q2 2012 | 2012-06-30 | $42.1M | $8.7M | +26.24% | +32.61% |
| Q1 2012 | 2012-03-31 | $46.9M | $7.4M | +18.77% | +40.00% |
| Q4 2011 | 2011-12-31 | $21.7M | — | — | +17.97% |
| Q3 2011 | 2011-09-30 | $34.7M | $3.2M | +10.09% | +29.81% |
| Q2 2011 | 2011-06-30 | $33.3M | — | — | +32.33% |
| Q1 2011 | 2011-03-31 | $39.5M | — | — | +42.33% |
| Q3 2010 | 2010-09-30 | $31.5M | — | — | +37.10% |
Fortinet free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $957.8M to $2.23B, a compound annual growth rate of 18.37%. Fortinet's latest reported quarter, Q2 2026, generated $965.6M in free cash flow, an increase of 239.88% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
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