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Fortinet, Inc. (FTNT) EBITDA Margin: 36.25%

Is Fortinet, Inc.’s EBITDA margin high or low?

Fortinet, Inc.'s EBITDA margin of 36.25% is 28% above its 5-year average of 28.43%, near the high end of its 5-year range (21.77%–36.96%).

The EBITDA margin for Fortinet, Inc. (FTNT) is 36.25% as of Tuesday, June 9, 2026. It is below its 12-month average by 0.97% (36.61%).

FTNT EBITDA Margin Chart

FTNT EBITDA Margin
36.25%-1.92% 1Y
Zoom

FTNT Average EBITDA Margin Chart

FTNT Current vs Average EBITDA Margin Chart

FTNT EBITDA Margin Metrics

EBITDA MARGIN

36.25%

EBITDA MARGIN AVG TTM

36.61%

EBITDA MARGIN AVG 3Y

31.32%

EBITDA MARGIN AVG 5Y

28.43%

EBITDA MARGIN AVG 10Y

21.02%

EBITDA MARGIN AVG 15Y

19.88%

EBITDA MARGIN AVG 20Y

16.08%

CURRENT VS TTM AVG

-0.97%

CURRENT VS 3Y AVG

+15.74%

CURRENT VS 5Y AVG

+27.51%

CURRENT VS 10Y AVG

+72.42%

CURRENT VS 15Y AVG

+82.38%

CURRENT VS 20Y AVG

+125.50%

FTNT Competitors' EBITDA Margin

NAMEMARKET CAPEBITDA MARGINTTM3Y5Y
Fortinet, Inc. (FTNT)36.25%36.61%31.32%28.43%
Adobe Inc. (ADBE)$96.15B41.02%39.01%39.55%40.10%
Accenture plc (ACN)$106.76B18.57%17.63%16.98%17.75%
Cadence Design Systems, Inc. (CDNS)$107.82B35.35%35.63%35.21%33.58%
ServiceNow, Inc. (NOW)$110.32B22.59%21.43%17.81%15.60%
Synopsys, Inc. (SNPS)$89.09B35.44%32.78%30.93%28.49%
Cloudflare, Inc. (NET)$83.45B4.88%4.30%-0.68%-5.77%
Snowflake Inc. (SNOW)$83.07B-23.13%-26.73%-28.97%-43.83%
Datadog, Inc. (DDOG)$80.92B5.66%7.79%5.39%4.66%
Intuit Inc. (INTU)$80.36B31.28%29.70%28.50%29.38%

Margin Comparison

Gross Margin

80.8%

EBITDA Margin

36.3%

Operating Margin

30.6%

Net Margin

27.3%

Formula: EBITDA Margin = (EBITDA / Revenue) × 100

Why EBITDA Margin matters:

  • Removes effects of depreciation policies (D&A)
  • Capital structure neutral (ignores interest)
  • Tax neutral (ignores tax differences)
  • Good proxy for operating cash generation

Fortinet, Inc. EBITDA Margin Formula & Definition

EBITDA Margin = EBITDA / Revenue

EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Fortinet, Inc. EBITDA Margin FAQ

What is the EBITDA margin for Fortinet, Inc. (FTNT)?
The EBITDA margin for FTNT stock is 36.25%.
Is Fortinet, Inc.'s EBITDA margin high or low?
Fortinet, Inc.'s EBITDA margin of 36.25% is 28% above its 5-year average of 28.43%, near the high end of its 5-year range (21.77%–36.96%).
What is the TTM average EBITDA margin for Fortinet, Inc. (FTNT)?
The TTM average EBITDA margin for FTNT stock is 36.61%.
What is the 3Y average EBITDA margin for Fortinet, Inc. (FTNT)?
The 3Y average EBITDA margin for FTNT stock is 31.32%.
What is the 5Y average EBITDA margin for Fortinet, Inc. (FTNT)?
The 5Y average EBITDA margin for FTNT stock is 28.43%.
What is the 10Y average EBITDA margin for Fortinet, Inc. (FTNT)?
The 10Y average EBITDA margin for FTNT stock is 21.02%.
What is the 15Y average EBITDA margin for Fortinet, Inc. (FTNT)?
The 15Y average EBITDA margin for FTNT stock is 19.88%.
What is the 20Y average EBITDA margin for Fortinet, Inc. (FTNT)?
The 20Y average EBITDA margin for FTNT stock is 16.08%.

Fortinet, Inc. EBITDA Margin History

DATEEBITDA MARGIN
2025-12-3136.25%
2024-12-3136.96%
2023-12-3127.67%
2022-12-3124.40%
2021-12-3121.77%
2020-12-3123.53%
2019-12-3120.69%
2018-12-3116.08%
2017-12-3111.08%
2016-12-317.48%
2015-12-315.36%
2014-12-3110.56%
2013-12-3114.26%
2012-12-3121.00%
2011-12-3122.12%
2010-12-3118.80%
2009-12-3112.40%
2008-12-314.33%
2007-12-31-11.21%
2006-12-31-2.02%

About Fortinet, Inc.

Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.

Sunnyvale, CA
14,556 employees
Technology / Software - Infrastructure
Sector
Technology
Industry
Software - Infrastructure
CEO
Ken Xie