Buyback yield (TTM)
5.16%
Shareholder yield (TTM)
5.16%
5Y share count change
-10.8%
Buyback spend (TTM)
$3.11B
Cumulative buybacks
$8.67B
Key takeaways
- Fortinet (FTNT) repurchased about $3.11B of stock over the trailing twelve months.
- Diluted share count is down 10.8% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 10.86× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +16.2% per year over the latest 5-year window.
- TTM repurchases used about 128% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Fortinet (FTNT)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Fortinet (FTNT)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Fortinet (FTNT)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Fortinet (FTNT)
Latest: $2.29B
Overview
In 2025, Fortinet (FTNT) buyback spend totalled $2.29B – surged 381533.3% year-over-year.
Over 2020–2025 (5 years), Fortinet buyback spend expanded at a +16.2% compound annual rate, with mixed annual results across the window.
Across the available history, buyback spend reached its high of $2.29B in 2025 and its low of $0.00 in 2007.
Fortinet Buyback Spend 2025: $2.29B
Fortinet buyback spend in 2025 was $2.29B, surged 381533.3% from 2024. This figure represents the highest annual value in the available history.
Fortinet Buyback Spend 2024: $600.00K
2024's buyback spend for Fortinet came in at $600.00K, plunged 100.0% below 2023.
Fortinet Buyback Spend 2023: $1.50B
Fortinet posted buyback spend of $1.50B in 2023, declined 24.6% below 2022.
Fortinet Buyback Spend 2022: $1.99B
In 2022, Fortinet reported buyback spend of $1.99B, surged 168.4% from 2021.
Fortinet Buyback Spend 2021: $741.80M
Fortinet buyback spend in 2021 was $741.80M.
See more financial history for Fortinet (FTNT).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $2.29B | $279.50M | $2.01B | 3.88% | 0.75B | -3.1% | |
| 2024 | $600.00K | $257.90M | −$257.30M | 0.00% | 0.77B | -2.1% | |
| 2023 | $1.50B | $249.00M | $1.25B | 3.35% | 0.79B | -2.1% | |
| 2022 | $1.99B | $217.30M | $1.77B | 5.22% | 0.81B | -3.6% | |
| 2021 | $741.80M | $207.90M | $533.90M | 1.27% | 0.84B | -0.4% | |
| 2020 | $1.08B | $191.70M | $888.40M | 4.47% | 0.84B | -4.2% | |
| 2019 | $145.10M | $174.10M | −$29.00M | 0.79% | 0.88B | +0.5% | |
| 2018 | $211.80M | $162.90M | $48.90M | 1.76% | 0.87B | -2.2% | |
| 2017 | $446.30M | $137.20M | $309.10M | 5.95% | 0.89B | +1.0% | |
| 2016 | $110.80M | $122.40M | −$11.60M | 2.11% | 0.88B | +0.1% | |
| 2015 | $60.00M | $95.09M | −$35.09M | 1.12% | 0.88B | +4.0% | |
| 2014 | $43.98M | $58.99M | −$15.02M | 0.87% | 0.85B | +0.7% | |
| 2013 | $33.53M | $43.91M | −$10.38M | 1.07% | 0.84B | +1.1% | |
| 2012 | $0.00 | $30.69M | −$30.69M | — | 0.83B | +1.6% | |
| 2011 | $0.00 | $19.02M | −$19.02M | — | 0.82B | +4.7% | |
| 2010 | $0.00 | $9.31M | −$9.31M | — | 0.78B | +19.9% | |
| 2009 | $15.76M | $7.46M | $8.30M | 1.33% | 0.65B | -0.5% | |
| 2008 | $0.00 | $5.30M | −$5.30M | — | 0.66B | -2.3% | |
| 2007 | $0.00 | $9.33M | −$9.33M | — | 0.67B | 0.0% | |
| 2006 | $60.00K | $1.21M | −$1.15M | — | 0.67B | — |
- 2025$2.29B
- 2024$600.00K
- 2023$1.50B
- 2022$1.99B
- 2021$741.80M
- 2020$1.08B
- 2019$145.10M
- 2018$211.80M
- 2017$446.30M
- 2016$110.80M
- 2015$60.00M
- 2014$43.98M
- 2013$33.53M
- 2012$0.00
- 2011$0.00
- 2010$0.00
- 2009$15.76M
- 2008$0.00
- 2007$0.00
- 2006$60.00K
Buybacks vs stock-based compensation for Fortinet (FTNT)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 10.86×.
Buybacks vs dividends (share of cash returned) for Fortinet (FTNT)
How Fortinet splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Fortinet, ranked by their latest buyback spend.
| $90.71B | |
| $40.09B | |
| $18.42B | |
| $6.65B | |
| $6.31B | |
| $1.32B | |
| $0.00 | |
| $0.00 |
- $90.71B
- $40.09B
- $18.42B
- $6.65B
- $6.31B
- $1.32B
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $2.44B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
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