Fortinet, Inc.FTNT

Market cap

$63.6B

P/E ratio

	Dec 31, 2012	Dec 31, 2013	Dec 31, 2014	Dec 31, 2015	Dec 31, 2016	Dec 31, 2017	Dec 31, 2018	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024
Product	-	-	-	-	-	-	-	789	916	1,255	1,781	1,927	1,909
Service	-	-	-	-	-	-	-	1,368	1,678	2,087	2,637	3,378	4,047
Total revenue	-	-	-	-	-	-	-	2,156	2,594	3,342	4,417	5,305	5,956
Product	-	-	-	-	-	-	-	325	352	488	691	764	652
Service	-	-	-	-	-	-	-	181	218	295	394	474	506
Total cost of revenue	147	181	231	287	338	385	450	506	570	783	1,085	1,237	1,158
Product	-	-	-	-	-	-	-	464	564	767	1,089	1,164	1,257
Service	-	-	-	-	-	-	-	1,186	1,460	1,792	2,243	2,904	3,542
Total gross profit	386	435	539	722	938	1,110	1,351	1,650	2,024	2,559	3,333	4,068	4,798
Research and development	81	103	123	158	183	211	245	277	341	424	512	614	717
Sales and marketing	179	225	316	470	627	701	782	927	1,072	1,346	1,686	2,006	2,045
General and administrative	26	35	41	72	81	88	93	102	120	144	169	211	238
Gain on intellectual property matter	-	-	-	-	-	-	-	-	40	5	5	5	5
Total operating expenses	286	363	480	708	895	1,000	1,120	1,306	1,493	1,909	2,363	2,827	2,995
OPERATING INCOME	100	72	59	15	43	110	231	344	532	650	970	1,241	1,803
INTEREST INCOME	5	5	5	5	7	13	27	43	18	5	17	120	155
INTEREST EXPENSE	-	-	-	-	-	-	-	-	-	15	18	21	20
GAIN ON BARGAIN PURCHASE	-	-	-	-	-	-	-	-	-	-	-	-	106
OTHER INCOME (EXPENSE)—NET	-0	-1	-3	-3	-7	1	-7	-7	-8	-12	-13	-6	14
INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENTS	105	76	62	17	43	124	251	379	542	628	956	1,334	2,059
PROVISION FOR INCOME TAXES	38	32	36	9	11	93	-81	53	53	14	31	144	284
LOSS FROM EQUITY METHOD INVESTMENTS	-	-	-	-	-	-	-	-	-	-8	-68	-42	-29
NET INCOME INCLUDING NON-CONTROLLING INTERESTS	-	-	-	-	-	-	-	-	-	607	857	1,148	1,745
Net Income (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-0	-1	-	-
NET INCOME ATTRIBUTABLE TO FORTINET, INC.	67	44	25	8	32	31	332	327	489	607	857	1,148	1,745
Earnings Per Share, Basic	0.42	0.27	0.15	0.05	0.19	0.18	1.96	1.91	2.98	3.72	1.08	1.47	2.28
Earnings Per Share, Diluted	0.4	0.26	0.15	0.05	0.18	0.18	1.91	1.87	2.91	3.63	1.06	1.46	2.26