Fortinet vs Gen Digital
Fortinet reported revenue of $6.8 billion in fiscal 2025, 1.4 times Gen Digital's $5.0 billion in fiscal 2026. Fortinet's revenue grew 14.2% in its latest year, and Gen Digital's grew 27.1%. Fortinet had an operating margin of 30.7%, against 42.4% at Gen Digital. Free cash flow was $2.2 billion at Fortinet and $1.5 billion at Gen Digital. Their fiscal years end in different months (December 31 and April 3), so the periods don't line up exactly.
Side by side
| Fortinet | Gen Digital | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Apr 3, 2026 |
| Revenue | $6.8B | $5.0B |
| Revenue growth | 14.2% | 27.1% |
| Revenue growth a year, last 5 years | 21.3% | 14.4% |
| Gross margin | 80.5% | 78.5% |
| Operating margin | 30.7% | 42.4% |
| Net margin | 27.3% | 19.5% |
| Free cash flow | $2.2B | $1.5B |
| Free cash flow margin | 32.7% | 30.5% |
| Return on capital | — | 13.7% |
| Net debt to EBITDA | −1.2x | 3.0x |
| Dividends and buybacks | $2.3B | $946M |
| Change in diluted share count | −0.9% | −0.8% |
| Last close | $183.33 | $24.41 |
| P/E at the last close | 64.8× | 14.3× |
| Insider trades, last 12 months | sold $136.2 million | bought $216,880, sold $21.9 million |
| Piotroski F-score | 5 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
FortinetGen Digital
Operating margin
Percent of revenue
FortinetGen Digital
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
FortinetGen Digital
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Fortinet and Gen Digital pages.