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Fortinet stock: key metrics
FTNTFortinet had an operating margin of 30.6% and a return on invested capital (ROIC) of 29.1% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 66.8% | −4.9% | −4.3% |
| 2007 | 63.5% | −13.9% | −14.1% |
| 2008 | 69.1% | 2.3% | 3.5% |
| 2009 | 72.2% | 10.0% | 23.9% |
| 2010 | 73.8% | 17.0% | 12.7% |
| 2011 | 73.8% | 20.5% | 14.4% |
| 2012 | 72.4% | 18.8% | 12.5% |
| 2013 | 70.6% | 11.7% | 7.2% |
| 2014 | 70.0% | 7.7% | 3.3% |
| 2015 | 71.6% | 1.5% | 0.8% |
| 2016 | 73.5% | 3.4% | 2.5% |
| 2017 | 74.2% | 7.3% | 2.1% |
| 2018 | 75.0% | 13.0% | 18.6% |
| 2019 | 76.6% | 16.2% | 15.3% |
| 2020 | 78.0% | 20.5% | 18.8% |
| 2021 | 76.6% | 19.5% | 18.2% |
| 2022 | 75.4% | 21.9% | 19.4% |
| 2023 | 76.7% | 23.4% | 21.6% |
| 2024 | 80.6% | 30.3% | 29.3% |
| 2025 | 80.8% | 30.6% | 27.3% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 0.0% | no data | 0.0% |
| 2007 | 115.4% | −72.7% | −15.0% |
| 2008 | −100.0% | 10.8% | 3.7% |
| 2009 | 42.2% | 19.8% | 15.5% |
| 2010 | 17.7% | 15.2% | 7.6% |
| 2011 | 17.4% | 15.2% | 8.5% |
| 2012 | 13.1% | 11.4% | 6.9% |
| 2013 | 7.6% | 6.0% | 3.8% |
| 2014 | 3.7% | 3.5% | 1.8% |
| 2015 | 1.1% | 0.7% | 0.4% |
| 2016 | 3.8% | 2.6% | 1.5% |
| 2017 | 5.3% | 4.3% | 1.4% |
| 2018 | 33.2% | 15.4% | 10.9% |
| 2019 | 24.7% | 14.2% | 8.6% |
| 2020 | 57.1% | 20.7% | 12.1% |
| 2021 | 77.6% | 21.9% | 10.3% |
| 2022 | −100.0% | 27.7% | 13.8% |
| 2023 | −100.0% | 33.0% | 15.8% |
| 2024 | 116.8% | 33.6% | 17.9% |
| 2025 | 149.8% | 29.1% | 17.8% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 Oct 2022)
- Valuation signal Overvalued since 10 Nov 2026, previously Fairly valued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.