Fortinet Past Earnings Performance
Past criteria checks 5/6
Fortinet has been growing earnings at an average annual rate of 29%, while the Software industry saw earnings growing at 19.7% annually. Revenues have been growing at an average rate of 21.6% per year. Fortinet's return on equity is 168.5%, and it has net margins of 26.8%.
Key information
29.0%
Earnings growth rate
30.9%
EPS growth rate
| Software Industry Growth | 17.3% |
| Revenue growth rate | 21.6% |
| Return on equity | 168.5% |
| Net Margin | 26.8% |
| Last Earnings Update | 30 Sep 2024 |
Recent past performance updates
Recent updates
Results: Fortinet, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Nov 12
Fortinet: The Good News Keeps Coming
Nov 12Is Fortinet, Inc. (NASDAQ:FTNT) Trading At A 36% Discount?
Nov 04Does Fortinet (NASDAQ:FTNT) Deserve A Spot On Your Watchlist?
Oct 21Fortinet: On The Road To Recovery (Rating Upgrade)
Oct 10Returns On Capital Are A Standout For Fortinet (NASDAQ:FTNT)
Sep 23Fortinet: A Strategic Investment Opportunity In The Cybersecurity Sector
Sep 15Fortinet: Margins On Steroids (Rating Upgrade)
Sep 09Market Participants Recognise Fortinet, Inc.'s (NASDAQ:FTNT) Earnings Pushing Shares 32% Higher
Aug 27Is Fortinet (NASDAQ:FTNT) A Risky Investment?
Aug 22At US$68.68, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
Aug 09Fortinet Earnings: Solid As A Firewall, 20x Operating Profits (Rating Upgrade)
Aug 07Fortinet Q2 Preview: Billings Slowdown Overshadows SASE Progress (Ratings Downgrade)
Aug 01Fortinet, Inc. (NASDAQ:FTNT) Shares Could Be 41% Below Their Intrinsic Value Estimate
Jul 26Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?
Jul 11Fortinet Could Be One Of The Most Undervalued Cybersecurity Plays
Jul 09Fortinet: Nearing The Trough
Jun 28Fortinet, Inc.'s (NASDAQ:FTNT) Business Is Trailing The Market But Its Shares Aren't
Jun 09Fortinet: Slow Growth Continues To Impact
Jun 06Fortinet: Growth And Cash Flow Headwinds
May 31Earnings Beat: Fortinet, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
May 09Fortinet: Market Overreaction Seems Unwarranted
May 08Why The 35% Return On Capital At Fortinet (NASDAQ:FTNT) Should Have Your Attention
Apr 29Fortinet Q1 Earnings Preview: It's All About SASE
Apr 26Are Investors Undervaluing Fortinet, Inc. (NASDAQ:FTNT) By 32%?
Apr 13Do Fortinet's (NASDAQ:FTNT) Earnings Warrant Your Attention?
Mar 28Fortinet: Soft Demand Creating Elevated Stock Risk
Mar 25Fortinet: Adapting To New Dynamics Of Cybersecurity Industry
Mar 12At US$66.96, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
Feb 23Fortinet: Excellent Business To Surf The Secular Trend, But Valuations Remain Enriched
Feb 13Fortinet, Inc. (NASDAQ:FTNT) Just Reported And Analysts Have Been Lifting Their Price Targets
Feb 08Fortinet: Don't Wait Until This Cybersecurity Leader Regains Its All-Time Highs
Feb 03There's Reason For Concern Over Fortinet, Inc.'s (NASDAQ:FTNT) Price
Jan 21Fortinet, Inc.'s (NASDAQ:FTNT) Intrinsic Value Is Potentially 34% Above Its Share Price
Jan 08The Trend Of High Returns At Fortinet (NASDAQ:FTNT) Has Us Very Interested
Dec 25Is Now The Time To Put Fortinet (NASDAQ:FTNT) On Your Watchlist?
Dec 11Is Fortinet (NASDAQ:FTNT) A Risky Investment?
Nov 13When Should You Buy Fortinet, Inc. (NASDAQ:FTNT)?
Oct 16An Intrinsic Calculation For Fortinet, Inc. (NASDAQ:FTNT) Suggests It's 39% Undervalued
Oct 02The Trend Of High Returns At Fortinet (NASDAQ:FTNT) Has Us Very Interested
Sep 17Here's Why We Think Fortinet (NASDAQ:FTNT) Might Deserve Your Attention Today
Aug 27Fortinet (NASDAQ:FTNT) Has A Rock Solid Balance Sheet
Aug 13At US$78.92, Is It Time To Put Fortinet, Inc. (NASDAQ:FTNT) On Your Watch List?
Jul 16Calculating The Fair Value Of Fortinet, Inc. (NASDAQ:FTNT)
Jul 02We Think Fortinet (NASDAQ:FTNT) Might Have The DNA Of A Multi-Bagger
Jun 18Should You Be Adding Fortinet (NASDAQ:FTNT) To Your Watchlist Today?
May 22Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Fortinet makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Sep 24 | 5,711 | 1,530 | 2,264 | 678 |
| 30 Jun 24 | 5,537 | 1,313 | 2,234 | 648 |
| 31 Mar 24 | 5,396 | 1,199 | 2,242 | 636 |
| 31 Dec 23 | 5,305 | 1,148 | 2,217 | 614 |
| 30 Sep 23 | 5,173 | 1,151 | 2,155 | 590 |
| 30 Jun 23 | 4,988 | 1,059 | 2,065 | 568 |
| 31 Mar 23 | 4,725 | 967 | 1,960 | 539 |
| 31 Dec 22 | 4,417 | 857 | 1,855 | 512 |
| 30 Sep 22 | 4,098 | 743 | 1,764 | 496 |
| 30 Jun 22 | 3,816 | 674 | 1,679 | 470 |
| 31 Mar 22 | 3,587 | 638 | 1,579 | 452 |
| 31 Dec 21 | 3,342 | 607 | 1,489 | 424 |
| 30 Sep 21 | 3,127 | 555 | 1,404 | 401 |
| 30 Jun 21 | 2,911 | 515 | 1,317 | 383 |
| 31 Mar 21 | 2,727 | 491 | 1,239 | 358 |
| 31 Dec 20 | 2,594 | 489 | 1,191 | 341 |
| 30 Sep 20 | 2,465 | 460 | 1,152 | 324 |
| 30 Jun 20 | 2,362 | 417 | 1,109 | 304 |
| 31 Mar 20 | 2,268 | 378 | 1,077 | 289 |
| 31 Dec 19 | 2,163 | 332 | 1,029 | 277 |
| 30 Sep 19 | 2,052 | 396 | 973 | 271 |
| 30 Jun 19 | 1,958 | 375 | 940 | 260 |
| 31 Mar 19 | 1,875 | 349 | 905 | 254 |
| 31 Dec 18 | 1,805 | 335 | 875 | 245 |
| 30 Sep 18 | 1,711 | 121 | 860 | 234 |
| 30 Jun 18 | 1,631 | 89 | 833 | 229 |
| 31 Mar 18 | 1,553 | 62 | 804 | 219 |
| 31 Dec 17 | 1,495 | 31 | 789 | 211 |
| 30 Sep 17 | 1,441 | 86 | 755 | 201 |
| 30 Jun 17 | 1,383 | 65 | 739 | 195 |
| 31 Mar 17 | 1,331 | 41 | 735 | 190 |
| 31 Dec 16 | 1,275 | 32 | 708 | 183 |
| 30 Sep 16 | 1,209 | 4 | 684 | 180 |
| 30 Jun 16 | 1,153 | 6 | 647 | 175 |
| 31 Mar 16 | 1,081 | 9 | 593 | 167 |
| 31 Dec 15 | 1,009 | 8 | 540 | 158 |
| 30 Sep 15 | 937 | 17 | 488 | 148 |
| 30 Jun 15 | 870 | 13 | 438 | 138 |
| 31 Mar 15 | 814 | 19 | 391 | 134 |
| 31 Dec 14 | 770 | 25 | 357 | 126 |
| 30 Sep 14 | 724 | 31 | 323 | 121 |
| 30 Jun 14 | 685 | 38 | 299 | 115 |
| 31 Mar 14 | 648 | 40 | 281 | 107 |
| 31 Dec 13 | 615 | 44 | 260 | 103 |
Quality Earnings: FTNT has high quality earnings.
Growing Profit Margin: FTNT's current net profit margins (26.8%) are higher than last year (22.2%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: FTNT's earnings have grown significantly by 29% per year over the past 5 years.
Accelerating Growth: FTNT's earnings growth over the past year (33%) exceeds its 5-year average (29% per year).
Earnings vs Industry: FTNT earnings growth over the past year (33%) exceeded the Software industry 24.7%.
Return on Equity
High ROE: Whilst FTNT's Return on Equity (168.47%) is outstanding, this metric is skewed due to their high level of debt.