Fortinet Inc (FTNT)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 4,798,200 | 4,551,800 | 4,324,000 | 4,161,700 | 4,067,600 | 3,954,100 | 3,803,700 | 3,586,000 | 3,332,500 | 3,082,100 | 2,871,600 | 2,706,500 | 2,559,200 | 2,404,900 | 2,260,800 | 2,127,000 | 2,021,500 | 1,914,400 | 1,825,900 | 1,738,900 |
| Revenue (ttm) | US$ in thousands | 5,955,800 | 5,710,800 | 5,537,300 | 5,395,800 | 5,304,800 | 5,172,700 | 4,987,600 | 4,724,900 | 4,417,400 | 4,098,000 | 3,815,700 | 3,586,700 | 3,342,200 | 3,126,600 | 2,910,500 | 2,724,900 | 2,591,500 | 2,457,900 | 2,354,300 | 2,260,500 |
| Gross profit margin | 80.56% | 79.71% | 78.09% | 77.13% | 76.68% | 76.44% | 76.26% | 75.90% | 75.44% | 75.21% | 75.26% | 75.46% | 76.57% | 76.92% | 77.68% | 78.06% | 78.01% | 77.89% | 77.56% | 76.93% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $4,798,200K ÷ $5,955,800K
= 80.56%
Fortinet Inc's gross profit margin has shown fluctuation over the periods covered in the data provided. Starting from March 31, 2020, with a gross profit margin of 76.93%, the margin gradually increased to a peak of 80.56% by December 31, 2024. The company experienced relatively stable margins in the range of 77%-78% from March 2021 to June 2023, with some minor variations.
However, starting from September 2023, the gross profit margin started to decline, reaching a low of 75.21% by September 30, 2022. This downward trend continued until December 31, 2022, but the margin saw a slight increase in the first quarter of 2023. Subsequently, the margin showed a more significant recovery and improvement, reaching its peak at the end of December 31, 2024.
Overall, the trend in Fortinet Inc's gross profit margin indicates both short-term fluctuations and long-term growth. It is important for the company to closely monitor its margin levels to ensure profitability and operational efficiency in the future.
Peer comparison
Dec 31, 2024