TTM
36.7%
YoY change
−0.71pp
Trough year (2007)
-11.2%
Peak year (2024)
37.0%
Latest annual
36.2%
EBITDA Margin history chart for Fortinet (FTNT) from 2006 to 2025
Latest: 36.2%
EBITDA Margin change chart for Fortinet (FTNT) from 2006 to 2025
Latest: −0.71pp
EBITDA Margin history table for Fortinet (FTNT) from 2006 to 2025
| 2025 | 36.2% | -0.71pp | ||
| 2024 | 37.0% | +9.29pp | ||
| 2023 | 27.7% | +3.28pp | ||
| 2022 | 24.4% | +2.63pp | ||
| 2021 | 21.8% | -1.76pp | ||
| 2020 | 23.5% | +2.84pp | ||
| 2019 | 20.7% | +4.62pp | ||
| 2018 | 16.1% | +5.00pp | ||
| 2017 | 11.1% | +3.60pp | ||
| 2016 | 7.5% | +2.12pp | ||
| 2015 | 5.4% | -5.20pp | ||
| 2014 | 10.6% | -3.70pp | ||
| 2013 | 14.3% | -6.74pp | ||
| 2012 | 21.0% | -1.12pp | ||
| 2011 | 22.1% | +3.32pp | ||
| 2010 | 18.8% | +6.40pp | ||
| 2009 | 12.4% | +8.08pp | ||
| 2008 | 4.3% | +15.54pp | ||
| 2007 | -11.2% | -9.20pp | ||
| 2006 | -2.0% | — |
- 202536.2%-0.71pp
- 202437.0%+9.29pp
- 202327.7%+3.28pp
- 202224.4%+2.63pp
- 202121.8%-1.76pp
- 202023.5%+2.84pp
- 201920.7%+4.62pp
- 201816.1%+5.00pp
- 201711.1%+3.60pp
- 20167.5%+2.12pp
- 20155.4%-5.20pp
- 201410.6%-3.70pp
- 201314.3%-6.74pp
- 201221.0%-1.12pp
- 201122.1%+3.32pp
- 201018.8%+6.40pp
- 200912.4%+8.08pp
- 20084.3%+15.54pp
- 2007-11.2%-9.20pp
- 2006-2.0%—
EBITDA Margin values are taken from Fortinet's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About EBITDA Margin at Fortinet (FTNT)
According to Fortinet's latest reported financial statements, the company's latest reported EBITDA margin is 36.7%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Fortinet (FTNT) most recent annual EBITDA margin stands at 36.25% (2025) – contracted 0.7 percentage points year-over-year.
The highest annual EBITDA margin of 36.96% was reported in 2024. The lowest in the available history was -11.21% in 2007.
Fortinet EBITDA Margin by Year
Fortinet EBITDA Margin 2025: 36.2%
Fortinet EBITDA margin in 2025 was 36.25%, contracted 0.7 percentage points from 2024.
Fortinet EBITDA Margin 2024: 37.0%
2024's EBITDA margin for Fortinet came in at 36.96%, expanded 9.3 percentage points from 2023. This figure represents the highest annual value in the available history.
Fortinet EBITDA Margin 2023: 27.7%
Fortinet posted EBITDA margin of 27.67% in 2023, expanded 3.3 percentage points from 2022.
Fortinet EBITDA Margin 2022: 24.4%
In 2022, Fortinet reported EBITDA margin of 24.40%, expanded 2.6 percentage points from 2021.
Fortinet EBITDA Margin 2021: 21.8%
Fortinet EBITDA margin in 2021 was 21.77%.
See more financial history for Fortinet (FTNT).
Sector peers by EBITDA Margin
Technology peers of Fortinet (FTNT), ranked by their latest EBITDA margin
| 76.0% | |
| 76.0% | |
| 63.9% | |
| 63.1% | |
| 55.3% | |
| 38.6% | |
| 35.5% | |
| 21.6% |
- 76.0%
- 76.0%
- 63.1%
- 55.3%
- 38.6%
- 35.5%
- 21.6%
Frequently asked questions
Fortinet (FTNT) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation