Fortinet vs Twilio
Fortinet reported revenue of $6.8 billion in fiscal 2025, 1.3 times Twilio's $5.1 billion in fiscal 2025. Fortinet's revenue grew 14.2% in its latest year, and Twilio's grew 13.7%. Fortinet had an operating margin of 30.7%, against 3.1% at Twilio. Free cash flow was $2.2 billion at Fortinet and $997 million at Twilio.
Side by side
| Fortinet | Twilio | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $6.8B | $5.1B |
| Revenue growth | 14.2% | 13.7% |
| Revenue growth a year, last 5 years | 21.3% | 23.5% |
| Gross margin | 80.5% | 48.9% |
| Operating margin | 30.7% | 3.1% |
| Net margin | 27.3% | 0.7% |
| Free cash flow | $2.2B | $997M |
| Free cash flow margin | 32.7% | 19.7% |
| Return on capital | — | 1.5% |
| Net debt to EBITDA | −1.2x | −4.2x |
| Dividends and buybacks | $2.3B | $869M |
| Change in diluted share count | −0.9% | −3.7% |
| Last close | $183.33 | $263.65 |
| P/E at the last close | 64.8× | 36.7× |
| Insider trades, last 12 months | sold $136.2 million | sold $619.0 million |
| Piotroski F-score | 5 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ 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
FortinetTwilio
Operating margin
Percent of revenue
FortinetTwilio
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
FortinetTwilio