Fortinet Inc (FTNT)

Net profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	1,147,800	1,150,700	1,059,400	966,600	857,300	742,500	674,000	638,000	606,800	554,500	514,800	491,100	488,500	460,000	416,800	375,700	329,900	397,000	375,500	352,100
Revenue (ttm)	US$ in thousands	5,240,800	5,073,600	4,894,300	4,628,200	4,328,000	4,044,600	3,755,900	3,535,000	3,309,700	3,108,300	2,900,500	2,719,400	2,586,000	2,453,200	2,349,600	2,255,800	2,151,500	2,040,600	1,947,000	1,866,600
Net profit margin		21.90%	22.68%	21.65%	20.89%	19.81%	18.36%	17.95%	18.05%	18.33%	17.84%	17.75%	18.06%	18.89%	18.75%	17.74%	16.65%	15.33%	19.46%	19.29%	18.86%

December 31, 2023 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,147,800K ÷ $5,240,800K
= 21.90%

Fortinet Inc's net profit margin has shown a consistent and positive trend over the past eight quarters. The company's net profit margin has gradually increased from 17.79% in Q1 2022 to 21.64% in Q4 2023, indicating that the company has been able to effectively control costs and improve profitability over time. This upward trend suggests that Fortinet Inc has been successful in managing its expenses relative to its revenue, resulting in higher profitability for the company. Overall, the steady improvement in net profit margin reflects positively on Fortinet Inc's financial performance and operational efficiency.