Fortinet Inc (FTNT)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,798,200 | 4,067,600 | 3,332,500 | 2,559,200 | 2,024,400 |
| Revenue | US$ in thousands | 5,955,800 | 5,304,800 | 4,417,400 | 3,342,200 | 2,594,400 |
| Gross profit margin | 80.56% | 76.68% | 75.44% | 76.57% | 78.03% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,798,200K ÷ $5,955,800K
= 80.56%
Fortinet Inc's gross profit margin has shown a slight fluctuation over the years based on the provided data. Beginning at 78.03% in December 31, 2020, the margin dipped to 76.57% by December 31, 2021. However, it further decreased to 75.44% by December 31, 2022. There was a subsequent improvement to 76.68% by December 31, 2023, followed by a significant increase to 80.56% by December 31, 2024. This upward trend in the gross profit margin indicates that Fortinet Inc has been able to effectively manage its direct costs of goods sold relative to its revenue, which is a positive sign of operational efficiency and potentially improving profitability.
Peer comparison
Dec 31, 2024