Fortinet annual operating margin
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Fortinet Operating Margin Growth & History (FTNT)
Fortinet's operating margin was 30.66% for fiscal 2025.
View full Fortinet company overviewFortinet annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 30.66% | +0.38 pp |
| 2024 | 2024-12-31 | 30.28% | +6.88 pp |
| 2023 | 2023-12-31 | 23.40% | +1.45 pp |
| 2022 | 2022-12-31 | 21.95% | +2.49 pp |
| 2021 | 2021-12-31 | 19.46% | −1.04 pp |
| 2020 | 2020-12-31 | 20.50% | +4.27 pp |
| 2019 | 2019-12-31 | 16.23% | +3.24 pp |
| 2018 | 2018-12-31 | 12.99% | +5.64 pp |
| 2017 | 2017-12-31 | 7.34% | +3.98 pp |
| 2016 | 2016-12-31 | 3.36% | +1.89 pp |
| 2015 | 2015-12-31 | 1.47% | −6.23 pp |
| 2014 | 2014-12-31 | 7.70% | −4.02 pp |
| 2013 | 2013-12-31 | 11.72% | −7.11 pp |
| 2012 | 2012-12-31 | 18.83% | −1.68 pp |
| 2011 | 2011-12-31 | 20.50% | +3.46 pp |
| 2010 | 2010-12-31 | 17.04% | +7.00 pp |
| 2009 | 2009-12-31 | 10.05% | — |
Fortinet quarterly operating margin
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Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 33.66% | +5.56 pp |
| Q1 2026 | 2026-03-31 | 31.36% | +1.88 pp |
| Q4 2025 | 2025-12-31 | 32.84% | −1.74 pp |
| Q3 2025 | 2025-09-30 | 31.73% | +0.50 pp |
| Q2 2025 | 2025-06-30 | 28.10% | −2.38 pp |
| Q1 2025 | 2025-03-31 | 29.47% | +5.74 pp |
| Q4 2024 | 2024-12-31 | 34.58% | +7.35 pp |
| Q3 2024 | 2024-09-30 | 31.22% | +8.51 pp |
| Q2 2024 | 2024-06-30 | 30.48% | +8.90 pp |
| Q1 2024 | 2024-03-31 | 23.73% | +2.07 pp |
| Q4 2023 | 2023-12-31 | 27.23% | −0.65 pp |
| Q3 2023 | 2023-09-30 | 22.72% | −0.38 pp |
| Q2 2023 | 2023-06-30 | 21.58% | +2.62 pp |
| Q1 2023 | 2023-03-31 | 21.67% | +5.85 pp |
| Q4 2022 | 2022-12-31 | 27.89% | +5.59 pp |
| Q3 2022 | 2022-09-30 | 23.10% | +3.91 pp |
| Q2 2022 | 2022-06-30 | 18.96% | +0.55 pp |
| Q1 2022 | 2022-03-31 | 15.81% | −1.30 pp |
| Q4 2021 | 2021-12-31 | 22.30% | −0.35 pp |
| Q3 2021 | 2021-09-30 | 19.19% | −0.30 pp |
| Q2 2021 | 2021-06-30 | 18.41% | −0.82 pp |
| Q1 2021 | 2021-03-31 | 17.12% | −3.08 pp |
| Q4 2020 | 2020-12-31 | 22.65% | +2.57 pp |
| Q3 2020 | 2020-09-30 | 19.49% | +1.14 pp |
| Q2 2020 | 2020-06-30 | 19.24% | +4.82 pp |
| Q1 2020 | 2020-03-31 | 20.20% | +9.49 pp |
| Q4 2019 | 2019-12-31 | 20.08% | +2.74 pp |
| Q3 2019 | 2019-09-30 | 18.35% | +4.52 pp |
| Q2 2019 | 2019-06-30 | 14.41% | +2.93 pp |
| Q1 2019 | 2019-03-31 | 10.71% | +2.59 pp |
| Q4 2018 | 2018-12-31 | 17.34% | +7.21 pp |
| Q3 2018 | 2018-09-30 | 13.84% | +4.83 pp |
| Q2 2018 | 2018-06-30 | 11.49% | +3.65 pp |
| Q1 2018 | 2018-03-31 | 8.12% | +6.53 pp |
| Q4 2017 | 2017-12-31 | 10.13% | −2.32 pp |
| Q3 2017 | 2017-09-30 | 9.01% | +7.27 pp |
| Q2 2017 | 2017-06-30 | 7.84% | +9.14 pp |
| Q1 2017 | 2017-03-31 | 1.59% | +2.88 pp |
| Q4 2016 | 2016-12-31 | 12.45% | +8.11 pp |
| Q3 2016 | 2016-09-30 | 1.73% | +2.44 pp |
| Q2 2016 | 2016-06-30 | −1.30% | −2.53 pp |
| Q1 2016 | 2016-03-31 | −1.30% | −1.72 pp |
| Q4 2015 | 2015-12-31 | 4.34% | −4.55 pp |
| Q3 2015 | 2015-09-30 | −0.71% | −8.70 pp |
| Q2 2015 | 2015-06-30 | 1.23% | −4.82 pp |
| Q1 2015 | 2015-03-31 | 0.42% | −7.16 pp |
| Q4 2014 | 2014-12-31 | 8.89% | −5.00 pp |
| Q3 2014 | 2014-09-30 | 7.99% | −3.82 pp |
| Q2 2014 | 2014-06-30 | 6.05% | −3.29 pp |
| Q1 2014 | 2014-03-31 | 7.59% | −3.75 pp |
| Q4 2013 | 2013-12-31 | 13.90% | −9.29 pp |
| Q3 2013 | 2013-09-30 | 11.82% | −7.10 pp |
| Q2 2013 | 2013-06-30 | 9.34% | −6.90 pp |
| Q1 2013 | 2013-03-31 | 11.33% | −4.63 pp |
| Q4 2012 | 2012-12-31 | 23.18% | +1.24 pp |
| Q3 2012 | 2012-09-30 | 18.91% | −3.56 pp |
| Q2 2012 | 2012-06-30 | 16.25% | −1.98 pp |
| Q1 2012 | 2012-03-31 | 15.96% | −2.74 pp |
| Q4 2011 | 2011-12-31 | 21.94% | +0.57 pp |
| Q3 2011 | 2011-09-30 | 22.47% | +9.66 pp |
| Q2 2011 | 2011-06-30 | 18.23% | — |
| Q1 2011 | 2011-03-31 | 18.70% | — |
| Q3 2010 | 2010-09-30 | 21.37% | — |
| Q2 2010 | 2010-06-30 | 12.81% | — |
Fortinet operating margin trends
Over the last five reported fiscal years, Fortinet's operating margin increased from 20.50% to 30.66%, a change of +10.16 percentage points. The latest reported quarter, Q2 2026, shows 33.66%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Fortinet filings at SEC.gov ↗