OverviewSuggest Edit

Fortinet is a company providing network security solutions. It delivers visibility and segmentation of the digital attack surface through the integrated Fortinet Security Fabric platform. The company specializes in network, infrastructure, cloud security, as well as endpoint protection, Internet of things, and operational technology security.
TypePublic
Founded2000
HQSunnyvale, CA, US
Websitefortinet.com
Employee Ratings4.4
Overall CultureC

Latest Updates

Employees (est.) (Sept 2020)8,075(+5%)
Job Openings1
Revenue (FY, 2019)$2.2 B(+20%)
Share Price (Jan 2021)$146.5
Cybersecurity ratingDMore

Key People/Management at Fortinet

Ken Xie

Ken Xie

Founder, Chairman of the Board, and Chief Executive Officer
Michael Xie

Michael Xie

Founder, President, and Chief Technology Officer
Keith Jensen

Keith Jensen

Chief Financial Officer
Philip Quade

Philip Quade

Chief Information Security Officer
Patrice Perche

Patrice Perche

Sr. Executive Vice President, Worldwide Sales and Support
John Maddison

John Maddison

Chief Marketing Officer and Executive Vice President, Products
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Fortinet Office Locations

Fortinet has offices in Sunnyvale, New York, Plano, Reston and in 48 other locations
Sunnyvale, CA, US (HQ)
899 Kifer Rd
New York, NY, US
4400 1 Pennsylvania Plaza
Plano, TX, US
6111 W Plano Pkwy
Reston, VA, US
12005 Sunrise Valley Dr #204
Sunrise, FL, US
13450 W Sunrise Blvd #430Sunrise
Union City, CA, US
1570 Atlantic St
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Fortinet Financials and Metrics

Fortinet Revenue

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Fortinet's revenue was reported to be $2.16 b in FY, 2019 which is a 19.7% increase from the previous period.
USD

Revenue (Q3, 2020)

651.1m

Gross profit (Q3, 2020)

511.9m

Gross profit margin (Q3, 2020), %

78.6%

Net income (Q3, 2020)

123.4m

EBIT (Q3, 2020)

126.9m

Market capitalization (15-Jan-2021)

23.8b

Closing stock price (15-Jan-2021)

146.5

Cash (30-Sept-2020)

882.3m
Fortinet's current market capitalization is $23.8 b.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

1.5b1.8b2.2b

Revenue growth, %

17%20%20%

Cost of goods sold

385.3m450.4m505.9m

Gross profit

1.1b1.4b1.7b
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

399.0m441.3m453.9m472.6m521.7m547.5m576.9m615.5m651.1m

Cost of goods sold

97.2m113.1m111.6m113.0m128.3m124.1m128.7m135.1m139.2m

Gross profit

301.8m328.2m342.3m359.6m393.4m423.4m448.2m480.4m511.9m

Gross profit Margin, %

76%74%75%76%75%77%78%78%79%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

811.0m1.1b1.2b

Accounts Receivable

348.2m444.5m544.3m

Prepaid Expenses

40.1m36.8m41.2m

Inventories

77.3m90.0m117.9m
Quarterly
Annual
USDFY, 2017FY, 2018FY, 2019

Net Income

31.4m332.2m326.5m

Depreciation and Amortization

55.5m55.7m61.6m

Inventories

9.4m(33.4m)(48.5m)

Accounts Payable

13.1m14.6m7.7m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Net Income

41.6m90.9m149.6m58.8m131.5m211.3m104.0m216.1m341.8m

Depreciation and Amortization

13.2m26.8m41.0m15.7m30.9m45.9m17.6m35.4m52.1m

Inventories

(7.3m)(10.8m)(19.0m)(2.6m)(5.5m)(25.2m)6.7m(17.9m)(31.0m)

Accounts Payable

(13.6m)(9.1m)(4.9m)(18.0m)(14.6m)(6.2m)(9.0m)9.7m(4.2m)
USDFY, 2017

Revenue/Employee

295.1k

Financial Leverage

3.8 x

P/E Ratio

242.7
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Fortinet Operating Metrics

Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Jun, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020Q2, 2020Q3, 2020

Billings

$187.62 m$213 m$213.16 m$896.49 m$254.30 m$297.18 m$299.62 m$1.23 b$330.46 m$373.78 m$347.46 m$1.52 b$403.28 m$426.89 m$431.70 m$1.80 b$463.20 m$513.40 m$527.50 m$2.15 b$551.60 m$622.40 m$626.60 m$2.60 b$667.80 m$711.50 m$749.80 m

Countries

30 70 80 80 70 80

Patents Issued

191 278 358 380 467 596 626

Patents Pending

156 236 292 298 291 199 175
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Fortinet Acquisitions / Subsidiaries

Company NameDateDeal Size
PanoptaDecember 08, 2020
OPAQ NetworksJuly 21, 2020
CyberSponseDecember 12, 2019
enSiloOctober 28, 2019
ZoneFoxOctober 23, 2018
Bradford NetworksJune 04, 2018
AccelOpsJune 07, 2016
Meru NetworksMay 27, 2015$44 m
Coyote Point SystemsMarch 22, 2013
3Crowd TechnologiesDecember 01, 2012
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Fortinet Revenue Breakdown

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Fortinet revenue breakdown by business segment: 34.8% from Security Subscription, 28.6% from Technical Support and other and 36.6% from Products

Fortinet revenue breakdown by geographic segment: 42.5% from Americas, 37.7% from EMEA and 19.7% from APAC

Fortinet Cybersecurity Score

Cybersecurity ratingPremium dataset

D

66/100

SecurityScorecard logo

Fortinet Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Fortinet Online and Social Media Presence

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Fortinet Company Culture

  • Overall Culture

    C

    66/100

  • CEO Rating

    D-

    59/100

  • Compensation

    B

    72/100

  • Diversity

    A

    82/100

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Fortinet News and Updates

Fortinet Extends Availability of Free Self-Paced NSE Cybersecurity Training Courses to Further Build Industry’s Workforce

In Response to Widening Cybersecurity Skills Gap and Strong Demand, Fortinet to Continue Offering Entire Catalogue of Self-paced Network Security Expert Training at No Cost for the Foreseeable Future In Response to Widening Cybersecurity Skills Gap and Strong Demand, Fortinet to Continue Offering En…

Fortinet to Announce Fourth Quarter 2020 Financial Results

SUNNYVALE, Calif., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, announced that it will hold a conference call to discuss its fourth quarter 2020 financial results on Thursday, February 4 at 1:30 p.m. Pacifi…

Service Providers Choose Fortinet Secure SD-WAN to Deliver Innovative Value-Add Offerings for Customers

Fortinet’s Extensive List of Global Organizations Using Secure SD-WAN Expands to include Fireminds, Netpluz, NG-BLU Networks, MTN Business Kenya, TPx and Vox Telecom Fortinet’s Extensive List of Global Organizations Using Secure SD-WAN Expands to include Fireminds, Netpluz, NG-BLU Networks, MTN Busi…

Fortinet Acquires Network Monitoring and Remediation Innovator Panopta

Panopta SaaS-based Hybrid Infrastructure Monitoring and Diagnostics Platform to Further Ensure Fortinet Customer Networks are High Performing and Secure Through Automated NetSec Ops Panopta SaaS-based Hybrid Infrastructure Monitoring and Diagnostics Platform to Further Ensure Fortinet Customer Netwo…

Fortinet Collaborates with AWS to Deliver an Integrated Next-Generation Firewall Solution to Protect Customer Workloads on AWS

Fortinet Continues to Build Cybersecurity Solutions with AWS Services, including AWS Gateway Load Balancer, AWS Outposts, AWS Network Firewall and AWS Transit Gateway

Fortinet Announces Industry’s First Secure SD-WAN Appliances for Operational Technology Environments

FortiGate Rugged 60F Next-generation Firewalls Bring Easy-to-Deploy SD-WAN and Integrated Advanced Security to OT Networks FortiGate Rugged 60F Next-generation Firewalls Bring Easy-to-Deploy SD-WAN and Integrated Advanced Security to OT Networks
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Fortinet Frequently Asked Questions

  • When was Fortinet founded?

    Fortinet was founded in 2000.

  • Who are Fortinet key executives?

    Fortinet's key executives are Ken Xie, Michael Xie and Keith Jensen.

  • How many employees does Fortinet have?

    Fortinet has 8,075 employees.

  • What is Fortinet revenue?

    Latest Fortinet annual revenue is $2.2 b.

  • What is Fortinet revenue per employee?

    Latest Fortinet revenue per employee is $267 k.

  • Who are Fortinet competitors?

    Competitors of Fortinet include ForeScout Technologies, Forcepoint and SonicWALL.

  • Where is Fortinet headquarters?

    Fortinet headquarters is located at 899 Kifer Rd, Sunnyvale.

  • Where are Fortinet offices?

    Fortinet has offices in Sunnyvale, New York, Plano, Reston and in 48 other locations.

  • How many offices does Fortinet have?

    Fortinet has 57 offices.