Fortinet Inc (FTNT)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,241,100 | 969,600 | 650,400 | 531,800 | 351,000 |
| Revenue | US$ in thousands | 5,230,300 | 4,313,600 | 3,306,400 | 2,588,900 | 2,151,500 |
| Operating profit margin | 23.73% | 22.48% | 19.67% | 20.54% | 16.31% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $1,241,100K ÷ $5,230,300K
= 23.73%
The operating profit margin of Fortinet Inc has shown a positive trend over the past five years, indicating an improving profitability performance. The margin has consistently increased from 15.96% in 2019 to 23.31% in 2023. This upward trend suggests that Fortinet has been effectively managing its operating expenses relative to its revenue, resulting in higher profitability. The steady growth in operating profit margin demonstrates the company's efficiency in generating profits from its core business operations. Overall, Fortinet Inc's operating profit margin reflects a strong financial performance and effective cost management over the years.
Peer comparison
Dec 31, 2023