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Fortinet, Inc.

FTNT · Computer Peripheral Equipment, NEC · 732.6M shares · +46%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $1.3B (gross $1.5B, SBC $249M)

Reference price $144.46 · est. market cap ~$105.8B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

A88

Cybersecurity leader with elite margins, returns, and cash generation.

Strengths

Risks

Notable findings

Quarterly revenue

2025-06-30 · $1.6B2025-09-30 · $1.7B2025-12-31 · $1.9B2026-03-31 · $1.8B

Last 4 quarters · from SEC filings.

Key metrics

Gross margin
80.5%
Operating margin
30.7%
Net margin
27.3%
Return on equity
149.8%
Return on assets
17.8%
ROIC
95.0%
Revenue growth (QoQ)
-2.9%
Net-income growth
6.2%
Debt / equity
0.4×
Net debt / EBITDA
-1.0×
Interest coverage
103.7×
Current ratio
1.2×
EBITDA
$2.2B
Tangible book value
$883M
Cash & investments
$2.8B
Stock comp / revenue
4.1%

Insider transactions · last 18 months

DateInsiderTypeSharesPrice
2026-06-11Hsieh MingOption exercise650
2026-06-11GOLDMAN KENNETH AOption exercise650
2026-06-11Napolitano JanetOption exercise650
2026-06-11STAVRIDIS JAMES G.Option exercise650
2026-06-11Sim JudithOption exercise650
2026-06-11Hu Jean X.Option exercise650
2026-06-04Xie MichaelGift2.5K
2026-06-04Xie MichaelGift500
2026-06-04Xie MichaelGift2.2K
2026-06-03Xie MichaelSell564$147.71
2026-06-03Xie MichaelSell132$148.30
2026-06-03Xie MichaelSell464$144.46
2026-06-03Xie MichaelSell410$145.72
2026-06-03Xie MichaelSell2.3K$146.55
2026-06-02Xie KenSell40K$144.29
2026-06-02Xie KenSell13K$145.04
2026-06-02Xie KenSell38K$146.36
2026-06-02Xie KenSell14K$147.37
2026-06-02Xie KenSell18K$148.24
2026-06-02Xie KenSell8.6K$148.94
2026-06-02Xie KenOption exercise155K$22.90
2026-06-02Xie KenSell9.6K$142.37
2026-06-02Xie KenSell20K$143.43
2026-05-21Whittle JohnSell55K$128.74
2026-05-21Whittle JohnSell4.2K$129.55
2026-05-21Whittle JohnOption exercise89K$34.39
2026-05-21Whittle JohnOption exercise57K$22.90
2026-05-21Whittle JohnSell87K$128.15
2026-05-20Ohlgart ChristianeSell238$130.00
2026-05-19Xie MichaelGift2.9M
2026-05-19Xie MichaelGift2.9M
2026-05-19Xie MichaelGift2.9M
2026-05-19Xie MichaelGift2.9M
2026-05-19GOLDMAN KENNETH AGift1.5K
2026-05-14Ohlgart ChristianeSell756$120.00
2026-05-11Ohlgart ChristianeSell238$115.00
2026-05-07Ohlgart ChristianeSell756$110.00
2026-05-05Ohlgart ChristianeSell596$89.70
2026-05-04Xie KenSell137$89.61
2026-05-04Xie MichaelSell197$88.09
2026-05-04Xie MichaelSell63$89.61
2026-05-04Xie MichaelSell2.0K$89.12
2026-05-04Xie MichaelSell190$87.04
2026-05-04Xie KenSell410$87.04
2026-05-04Xie KenSell425$88.09
2026-05-04Xie KenSell4.4K$89.12
2026-05-01Xie KenOption exercise2.3K
2026-05-01Xie KenTax withheld6.6K$86.29
2026-05-01Xie MichaelOption exercise2.8K
2026-05-01Xie MichaelOption exercise2.2K
2026-05-01Xie MichaelOption exercise1.3K
2026-05-01Xie MichaelTax withheld3.2K$86.29
2026-05-01Ohlgart ChristianeOption exercise2.4K
2026-05-01Ohlgart ChristianeOption exercise685
2026-05-01Ohlgart ChristianeOption exercise650
2026-05-01Ohlgart ChristianeOption exercise1.2K
2026-05-01Ohlgart ChristianeTax withheld1.7K$86.29
2026-05-01Whittle JohnOption exercise1.6K
2026-05-01Whittle JohnOption exercise1.8K
2026-05-01Whittle JohnOption exercise1.1K
2026-05-01Whittle JohnTax withheld2.3K$86.29
2026-05-01Xie KenOption exercise6.3K
2026-05-01Xie KenOption exercise4.6K
2026-04-17Xie KenGift236K
2026-04-17Xie KenGift236K
2026-04-17Xie KenGift236K
2026-04-17Xie KenGift236K
2026-04-17Xie KenGift236K
2026-04-17Xie KenGift236K
2026-03-31Sim JudithOption exercise649
2026-03-31Hu Jean X.Option exercise649
2026-03-31Hsieh MingOption exercise649
2026-03-31GOLDMAN KENNETH AOption exercise649
2026-03-31Napolitano JanetOption exercise649
2026-03-31STAVRIDIS JAMES G.Option exercise649
2026-02-03Ohlgart ChristianeSell507$80.73
2026-02-02Xie MichaelSell204K$81.64
2026-02-02Xie MichaelSell9.4K$82.28
2026-02-02Xie MichaelOption exercise324K$16.90
2026-02-02Xie MichaelSell129K$81.01
2026-02-02Xie KenOption exercise135K$16.90
2026-02-02Xie KenSell80K$81.06
2026-02-02Xie KenSell1.2K$82.33
2026-02-02Xie KenSell94K$81.72
2026-02-01Xie MichaelOption exercise2.0K
2026-02-01Xie MichaelOption exercise2.8K
2026-02-01Xie MichaelOption exercise2.2K
2026-02-01Xie MichaelOption exercise5.2K
2026-02-01Xie MichaelOption exercise29K
2026-02-01Xie MichaelTax withheld19K$81.26
2026-02-01Whittle JohnOption exercise20K
2026-02-01Ohlgart ChristianeOption exercise685
2026-02-01Ohlgart ChristianeOption exercise2.6K
2026-02-01Ohlgart ChristianeTax withheld1.3K$81.26
2026-02-01Whittle JohnOption exercise1.2K
2026-02-01Whittle JohnOption exercise1.6K
2026-02-01Whittle JohnOption exercise1.8K
2026-02-01Whittle JohnOption exercise4.5K
2026-02-01Whittle JohnTax withheld13K$81.26
2026-02-01Xie KenOption exercise6.0K
2026-02-01Xie KenOption exercise6.3K
2026-02-01Xie KenOption exercise4.6K
2026-02-01Xie KenOption exercise9.1K
2026-02-01Xie KenOption exercise62K
2026-02-01Xie KenTax withheld43K$81.26
2025-12-31Hsieh MingOption exercise649
2025-12-31GOLDMAN KENNETH AOption exercise649
2025-12-31Napolitano JanetOption exercise649
2025-12-31STAVRIDIS JAMES G.Option exercise649
2025-12-31Sim JudithOption exercise649
2025-12-31Hu Jean X.Option exercise649
2025-12-05Xie MichaelGift245K
2025-11-04Ohlgart ChristianeSell110$86.50
2025-11-03Xie KenSell60K$87.33
2025-11-03Xie MichaelSell1.2K$87.35
2025-11-03Xie MichaelSell700$85.37
2025-11-03Xie MichaelSell1.6K$86.42
2025-11-03Xie KenSell40K$85.50
2025-11-03Xie KenOption exercise150K$16.90
2025-11-03Xie KenSell58K$86.36
2025-11-01Xie MichaelOption exercise2.2K
2025-11-01Ohlgart ChristianeOption exercise685
2025-11-01Ohlgart ChristianeTax withheld244$86.43
2025-11-01Whittle JohnOption exercise1.2K
2025-11-01Whittle JohnOption exercise1.6K
2025-11-01Whittle JohnOption exercise1.8K
2025-11-01Whittle JohnTax withheld2.3K$86.43
2025-11-01Xie KenOption exercise6.0K
2025-11-01Xie KenOption exercise6.3K
2025-11-01Xie KenOption exercise4.6K
2025-11-01Xie KenTax withheld8.3K$86.43
2025-11-01Xie MichaelOption exercise2.0K
2025-11-01Xie MichaelOption exercise2.8K
2025-11-01Xie MichaelTax withheld3.5K$86.43
2025-09-30GOLDMAN KENNETH AOption exercise649
2025-09-30Napolitano JanetOption exercise649
2025-09-30STAVRIDIS JAMES G.Option exercise649
2025-09-30Sim JudithOption exercise649
2025-09-30Hu Jean X.Option exercise649
2025-09-30Hsieh MingOption exercise649
2025-09-08Xie MichaelGift30K
2025-09-08Xie MichaelGift5.0K
2025-08-05Ohlgart ChristianeSell110$98.45
2025-08-04Xie KenSell129K$98.44
2025-08-04Xie MichaelSell14K$97.39
2025-08-04Xie KenSell24K$98.94
2025-08-04Xie KenSell4.9K$97.35
2025-08-04Xie KenOption exercise150K$16.90
2025-08-04Xie MichaelSell387K$98.43
2025-08-04Xie MichaelSell75K$98.93
2025-08-01Xie KenOption exercise6.3K
2025-08-01Xie KenTax withheld8.3K$97.36
2025-08-01Ohlgart ChristianeOption exercise684
2025-08-01Ohlgart ChristianeTax withheld243$97.36
2025-08-01Xie KenOption exercise4.6K
2025-08-01Xie MichaelOption exercise2.0K
2025-08-01Xie MichaelOption exercise2.8K
2025-08-01Xie MichaelOption exercise2.2K
2025-08-01Xie MichaelTax withheld3.5K$97.36
2025-08-01Whittle JohnOption exercise1.2K
2025-08-01Whittle JohnOption exercise1.6K
2025-08-01Whittle JohnOption exercise1.8K
2025-08-01Whittle JohnTax withheld2.3K$97.36
2025-08-01Xie KenOption exercise6.0K
2025-06-12Hu Jean X.Option exercise1.1K
2025-06-12Hsieh MingOption exercise1.1K
2025-06-12Napolitano JanetOption exercise1.7K
2025-06-12Wilderotter Mary AgnesOption exercise1.1K
2025-06-12Sim JudithOption exercise1.1K
2025-06-12GOLDMAN KENNETH AOption exercise1.1K
2025-06-12STAVRIDIS JAMES G.Option exercise1.1K
2025-06-12NEUKOM WILLIAM H.Option exercise1.1K
2025-06-06NEUKOM WILLIAM H.Buy335$104.22
2025-06-06Ohlgart ChristianeSell1.2K$104.71
2025-05-22Xie MichaelGift1.9M
2025-05-22Xie MichaelGift1.9M
2025-05-22Xie MichaelGift1.9M
2025-05-22Xie MichaelGift1.9M
2025-05-02Xie MichaelSell766$105.66
2025-05-02Xie MichaelSell2.8K$106.24
2025-05-02Xie KenOption exercise150K$16.90
2025-05-02Xie KenSell38K$105.64
2025-05-02Xie KenSell121K$106.24
2025-05-01Jensen KeithOption exercise2.6K
2025-05-01Jensen KeithOption exercise1.8K
2025-05-01Jensen KeithTax withheld3.1K$104.21
2025-05-01Ohlgart ChristianeOption exercise4.4K
2025-05-01Ohlgart ChristianeOption exercise2.7K
2025-05-01Ohlgart ChristianeTax withheld2.5K$104.21
2025-05-01Xie MichaelOption exercise2.0K
2025-05-01Xie MichaelOption exercise2.8K
2025-05-01Xie MichaelOption exercise2.2K
2025-05-01Xie MichaelTax withheld3.5K$104.21
2025-05-01Xie KenOption exercise6.0K
2025-05-01Xie KenOption exercise6.3K
2025-05-01Xie KenOption exercise4.6K
2025-05-01Xie KenTax withheld8.3K$104.21
2025-05-01Whittle JohnOption exercise1.2K
2025-05-01Whittle JohnOption exercise1.6K
2025-05-01Whittle JohnOption exercise1.8K
2025-05-01Whittle JohnTax withheld2.3K$104.21
2025-05-01Jensen KeithOption exercise1.9K
2025-03-31Hu Jean X.Option exercise1.1K
2025-03-31Wilderotter Mary AgnesOption exercise1.1K
2025-03-31GOLDMAN KENNETH AOption exercise1.1K
2025-03-31STAVRIDIS JAMES G.Option exercise1.1K
2025-03-31Sim JudithOption exercise1.1K
2025-03-31NEUKOM WILLIAM H.Option exercise1.1K
2025-03-31Hsieh MingOption exercise1.1K
2025-03-12GOLDMAN KENNETH ASell2.0K$100.00
2025-03-11Xie MichaelSell93K$97.34
2025-03-11Xie MichaelSell9.9K$96.11
2025-03-11Xie MichaelSell152K$98.26
2025-03-11Xie MichaelSell70K$99.30
2025-03-11Xie MichaelSell2.2K$99.80
2025-03-10Xie KenSell9.0K$98.97
2025-03-10Xie KenSell79K$97.05
2025-03-10Xie KenSell24K$98.30
2025-03-10Xie KenOption exercise150K$16.90
2025-03-10GOLDMAN KENNETH ASell1.0K$99.32
2025-03-10Xie KenSell94K$96.29
2025-03-06NEUKOM WILLIAM H.Buy328$106.33
2025-02-26Jensen KeithOption exercise12K$34.39
2025-02-26Jensen KeithOption exercise5.7K$62.11
2025-02-26Jensen KeithSell8.7K$108.84
2025-02-26Jensen KeithSell8.1K$109.44
2025-02-26Jensen KeithSell855$110.11
2025-02-19Jensen KeithSell7.2K$112.43
2025-02-19Jensen KeithSell6.4K$113.57
2025-02-19Jensen KeithSell9.9K$114.37
2025-02-18Xie MichaelOption exercise473K$9.81
2025-02-12Xie KenOption exercise42K$9.81
2025-02-12Xie KenSell3.3K$105.22
2025-02-12Xie KenSell7.5K$106.09
2025-02-12Xie KenSell8.5K$107.20
2025-02-12Xie KenSell3.4K$107.65
2025-02-11Xie KenGift647K
2025-02-11Xie KenOption exercise42K$9.81
2025-02-11Xie KenGift647K
2025-02-11Xie KenSell6.2K$109.30
2025-02-11Xie KenSell100$109.99
2025-02-11Xie KenSell16K$108.54
2025-02-11Xie KenGift647K
2025-02-11Xie KenGift647K
2025-02-11Xie KenGift647K
2025-02-11Xie KenGift647K
2025-02-01Xie KenTax withheld55K$100.88
2025-02-01Xie MichaelOption exercise4.6K
2025-02-01Xie MichaelOption exercise2.0K
2025-02-01Xie MichaelOption exercise2.8K
2025-02-01Xie MichaelOption exercise9.0K
2025-02-01Xie MichaelOption exercise32K
2025-02-01Xie MichaelTax withheld24K$100.88
2025-02-01Xie KenOption exercise11K
2025-02-01Xie KenOption exercise6.0K
2025-02-01Xie KenOption exercise6.3K
2025-02-01Xie KenOption exercise18K
2025-02-01Xie KenOption exercise69K
2025-02-01Jensen KeithOption exercise4.0K
2025-02-01Jensen KeithOption exercise1.9K
2025-02-01Jensen KeithOption exercise2.6K
2025-02-01Jensen KeithOption exercise7.3K
2025-02-01Jensen KeithOption exercise28K
2025-02-01Jensen KeithTax withheld20K$100.88
2025-02-01Whittle JohnOption exercise2.5K
2025-02-01Whittle JohnOption exercise1.2K
2025-02-01Whittle JohnOption exercise1.6K
2025-02-01Whittle JohnOption exercise7.3K
2025-02-01Whittle JohnOption exercise22K
2025-02-01Whittle JohnTax withheld16K$100.88
2025-01-15Xie KenOption exercise42K$9.81
2025-01-15Xie KenSell22K$93.30
2025-01-15Xie KenSell700$93.92
2025-01-14Xie KenSell13K$92.53
2025-01-14Xie KenSell9.7K$91.90
2025-01-14Xie KenOption exercise42K$9.81
2024-12-31Hu Jean X.Option exercise1.1K
2024-12-31Hsieh MingOption exercise1.1K
2024-12-31GOLDMAN KENNETH AOption exercise1.1K
2024-12-31NEUKOM WILLIAM H.Option exercise1.1K
2024-12-31STAVRIDIS JAMES G.Option exercise1.1K
2024-12-31Wilderotter Mary AgnesOption exercise1.1K
2024-12-31Sim JudithOption exercise1.1K

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (1)

Suppliers (0)

    Named in the 10-K; linked when we track them.

    Notable events (8-K)

    DateItems
    2026-06-16Shareholder votefiling ↗
    2026-05-06ResultsExhibitsfiling ↗
    2026-02-05ResultsExhibitsfiling ↗
    2025-11-05ResultsExhibitsfiling ↗
    2025-08-22Otherfiling ↗
    2025-08-06ResultsExhibitsfiling ↗
    2025-06-18Shareholder votefiling ↗
    2025-05-15Exec/director changefiling ↗

    Recent filings

    FormFiledPeriodAccession
    8-K2026-06-162026-06-120001262039-26-000015 ↗
    10-Q2026-05-082026-03-310001262039-26-000013 ↗
    8-K2026-05-062026-05-060001262039-26-000010 ↗
    10-K2026-02-252025-12-310001262039-26-000007 ↗
    8-K2026-02-052026-02-050001262039-26-000003 ↗
    10-Q2025-11-072025-09-300001262039-25-000039 ↗
    8-K2025-11-052025-11-050001262039-25-000036 ↗
    8-K2025-08-222025-08-210001262039-25-000033 ↗
    10-Q2025-08-082025-06-300001262039-25-000028 ↗
    8-K2025-08-062025-08-060001262039-25-000025 ↗
    8-K2025-06-182025-06-130001262039-25-000022 ↗
    8-K/A2025-05-152025-05-130001262039-25-000020 ↗