Fortinet Inc (FTNT)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,147,800	857,300	606,800	488,500	331,700
Revenue	US$ in thousands	5,230,300	4,313,600	3,306,400	2,588,900	2,151,500
Net profit margin		21.95%	19.87%	18.35%	18.87%	15.42%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $1,147,800K ÷ $5,230,300K
= 21.95%

The net profit margin of Fortinet Inc has shown a generally positive trend over the past five years. The company's net profit margin increased from 15.14% in 2019 to 21.64% in 2023. This indicates that Fortinet Inc has been able to effectively control its expenses and generate higher profits relative to its revenue over the years. The improvement in the net profit margin suggests efficient cost management and potentially increasing operational efficiencies within the company. Overall, the upward trend in the net profit margin reflects positively on Fortinet Inc's profitability and financial performance.