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 | −$9.8M | −31.10% | +17.97% |
| Q3 2011 | 2011-09-30 | $34.7M | — | — | +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 SEC-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.
Review Fortinet filings at SEC.gov ↗