Fortinet Inc (FTNT)

Operating 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
Operating income (ttm)	US$ in thousands	1,801,100	1,612,400	1,444,700	1,287,700	1,241,100	1,213,500	1,175,800	1,092,100	969,600	826,700	727,600	679,800	650,400	604,900	565,400	534,600	528,900	477,900	451,000	409,500
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
Operating profit margin		30.24%	28.23%	26.09%	23.86%	23.40%	23.46%	23.57%	23.11%	21.95%	20.17%	19.07%	18.95%	19.46%	19.35%	19.43%	19.62%	20.41%	19.44%	19.16%	18.12%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,801,100K ÷ $5,955,800K
= 30.24%

Fortinet Inc's operating profit margin has demonstrated a generally increasing trend over the period from March 31, 2020, to December 31, 2024. The operating profit margin started at 18.12% in March 2020 and reached its peak at 30.24% by December 31, 2024.

The company showed consistent improvement in operating efficiency, with minor fluctuations along the way. Notable increases were observed in the fourth quarter of 2023 and throughout 2024, indicating that Fortinet Inc was able to generate more operating profit relative to its revenue during these periods.

Overall, the increasing trend in operating profit margin suggests that Fortinet Inc has effectively managed its operating expenses and improved its operational performance over the analyzed period, reflecting positively on the company's profitability and efficiency.