Company / FCF Margin
Fortinet FCF Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest FCF Margin
32.7%
FY2025
5-year range
31.6% / 36.9%
FY2021-FY2025
Trend
+3.7%
vs FY2024
Sector context
#23 of 280
Information Technology
What the data says
Among 280 Information Technology companies, Fortinet is in the top 8% for fcf margin. FCF Margin returned to growth in FY2025 after 2 years of decline, reaching 32.7%.
Based on SEC 10-K filings.
32.7% in FY2025 with a 5-year CAGR of -4.2%. Top quartile in the Information Technology sector.
Declined from 36.0% to 32.7% over the past 2 years.
Information Technology sector context is included.
FCF Margin over time
Growth rates
- 3-Year Change
- -4.2pp
- 5-Year Change
- -4.2pp
- 10-Year Change
- -
Sector benchmark
Top 8% in Information TechnologyTop 8% of 280This company 32.7% Sector average -113.7%
▼
+128.8% above sector average
Key checks
Key Insights
- In FY2025, fcf margin increased 3.7% year-over-year.
- Currently 146.4pp above the Information Technology sector average.
- Peak fcf margin was recorded in FY2022.
- Lowest fcf margin in the period was in FY2016.
Company context
Key Data Points
- Strong profit margin: 28.6%
- High earnings quality (cash-backed earnings)
- Strong return on equity: 254.9%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | FCF MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 32.7% | +3.7% |
| FY2024 | 31.6% | -12.4% |
| FY2023 | 36.0% | -2.4% |
| FY2022 | 36.9% | +11.6% |
| FY2021 | 33.1% | -10.4% |
| FY2020 | 36.9% | +11.6% |
| FY2019 | 33.1% | +1.9% |
| FY2018 | 32.5% | +5.7% |
| FY2017 | 30.7% | +43.9% |
| FY2016 | 21.3% | -12.1% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026