FORTINET, INC. (FTNT) Spending and interest coverage
- R&D / revenue · 12 months: Value 11.24%; Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 3.93%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | 11.24% | Research and development expense / revenue. Period ending 2026-06-30. $846.40M ÷ $7.53B × 100 ≈ 11.24% |
| Stock-based compensation / revenue · 12 months | 3.93% | Share-based compensation / revenue. Period ending 2026-06-30. $296.10M ÷ $7.53B × 100 ≈ 3.93% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | 846.40M USD | Research and Development Expense |
| Revenue | 7.53B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 296.10M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 2.44B USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $846.40M | $7.53B | $296.10M | $2.44B | (m) | 11.24% | 3.93% | (m) | (m) |
| 2026-03-31 | $830.90M | $7.11B | $285.90M | $2.21B | (m) | 11.69% | 4.02% | (m) | (m) |
| 2025-12-31 | $815.50M | $6.80B | $279.50M | $2.08B | $20.10M | 11.99% | 4.11% | 103.72× | Reported |
| 2025-09-30 | $801.60M | $6.55B | $272.80M | $2.03B | (m) | 12.23% | 4.16% | (m) | (m) |
| 2025-06-30 | $786.50M | $6.34B | $266.90M | $1.96B | (m) | 12.41% | 4.21% | (m) | (m) |
| 2025-03-31 | $742.40M | $6.14B | $261.70M | $1.94B | (m) | 12.09% | 4.26% | (m) | (m) |
| 2024-12-31 | $716.80M | $5.96B | $257.90M | $1.80B | $20.00M | 12.04% | 4.33% | 90.17× | Reported |
| 2024-09-30 | $678.20M | $5.71B | $255.50M | $1.61B | (m) | 11.88% | 4.47% | (m) | (m) |
| 2024-06-30 | $647.80M | $5.54B | $253.90M | $1.45B | $20.90M | 11.70% | 4.59% | 69.23× | Reported |
| 2024-03-31 | $635.70M | $5.40B | $255.00M | $1.29B | $21.10M | 11.78% | 4.73% | 61.08× | Reported |
| 2023-12-31 | $613.80M | $5.30B | $249.00M | $1.24B | $21.00M | 11.57% | 4.69% | 59.10× | Reported |
| 2023-09-30 | $590.20M | $5.17B | $240.30M | $1.21B | $20.10M | 11.41% | 4.65% | 60.37× | Reported |
| 2023-06-30 | $567.60M | $4.99B | $230.70M | $1.18B | $19.20M | 11.38% | 4.63% | 61.24× | Reported |
| 2023-03-31 | $538.60M | $4.72B | $220.40M | $1.09B | $18.50M | 11.40% | 4.66% | 59.03× | Reported |
| 2022-12-31 | $512.40M | $4.42B | $217.30M | $969.60M | $18.00M | 11.60% | 4.92% | 53.87× | Reported |
| 2022-09-30 | $496.10M | $4.10B | $215.70M | $826.70M | $18.00M | 12.11% | 5.26% | 45.93× | Reported |
| 2022-06-30 | $469.60M | $3.82B | $213.70M | $727.60M | $18.10M | 12.31% | 5.60% | 40.20× | Reported |
| 2022-03-31 | $451.90M | $3.59B | $211.60M | $679.80M | $18.10M | 12.60% | 5.90% | 37.56× | Reported |
| 2021-12-31 | $424.20M | $3.34B | $207.90M | $650.40M | $14.90M | 12.69% | 6.22% | 43.65× | Reported |
| 2021-09-30 | $400.60M | $3.13B | $203.50M | $604.90M | (m) | 12.81% | 6.51% | (m) | (m) |
| 2021-06-30 | $382.80M | $2.91B | $200.10M | $565.40M | (m) | 13.15% | 6.88% | (m) | (m) |
| 2021-03-31 | $358.30M | $2.73B | $196.40M | $536.70M | (m) | 13.14% | 7.20% | (m) | (m) |
| 2020-12-31 | $341.40M | $2.59B | $191.70M | $531.80M | (m) | 13.16% | 7.39% | (m) | (m) |
| 2020-09-30 | $323.60M | $2.46B | $186.70M | $477.70M | (m) | 13.17% | 7.60% | (m) | (m) |
| 2020-06-30 | $303.50M | $2.35B | $179.80M | $451.00M | (m) | 12.89% | 7.64% | (m) | (m) |
| 2020-03-31 | $288.80M | $2.26B | $175.90M | $409.50M | (m) | 12.78% | 7.78% | (m) | (m) |
| 2019-12-31 | $277.10M | $2.16B | $174.10M | $344.20M | (m) | 12.85% | 8.07% | (m) | (m) |
| 2019-09-30 | $271.40M | $2.05B | $173.00M | $310.90M | (m) | 13.25% | 8.44% | (m) | (m) |
| 2019-06-30 | $260.20M | $1.96B | $173.80M | $273.70M | (m) | 13.31% | 8.89% | (m) | (m) |
| 2019-03-31 | $254.00M | $1.87B | $169.40M | $249.20M | (m) | 13.55% | 9.04% | (m) | (m) |
| 2018-12-31 | $244.50M | $1.80B | $162.90M | $231.00M | (m) | 13.57% | 9.04% | (m) | (m) |
| 2018-09-30 | $233.71M | $1.71B | $154.78M | $188.10M | (m) | 13.66% | 9.05% | (m) | (m) |
| 2018-06-30 | $228.51M | $1.63B | $145.88M | $159.00M | (m) | 14.01% | 8.94% | (m) | (m) |
| 2018-03-31 | $218.51M | $1.55B | $140.38M | $136.80M | (m) | 14.07% | 9.04% | (m) | (m) |
| 2017-12-31 | $210.61M | $1.49B | $137.18M | $109.80M | (m) | 14.09% | 9.18% | (m) | (m) |
| 2017-09-30 | $201.43M | $1.44B | $134.81M | $112.80M | (m) | 13.98% | 9.35% | (m) | (m) |
| 2017-06-30 | $195.18M | $1.38B | $131.60M | $84.59M | (m) | 14.11% | 9.51% | (m) | (m) |
| 2017-03-31 | $189.53M | $1.33B | $126.85M | $52.05M | (m) | 14.23% | 9.53% | (m) | (m) |
| 2016-12-31 | $183.08M | $1.28B | $122.42M | $42.94M | (m) | 14.35% | 9.60% | (m) | (m) |
| 2016-09-30 | $180.31M | $1.21B | $118.43M | $10.62M | (m) | 14.91% | 9.79% | (m) | (m) |
| 2016-06-30 | $175.18M | $1.15B | $113.81M | $3.29M | (m) | 15.20% | 9.87% | (m) | (m) |
| 2016-03-31 | $167.28M | $1.08B | $107.09M | $8.31M | (m) | 15.48% | 9.91% | (m) | (m) |
| 2015-12-31 | $158.13M | $1.01B | $95.09M | $14.88M | (m) | 15.67% | 9.42% | (m) | (m) |
| 2015-09-30 | $148.41M | $936.71M | $83.68M | $21.93M | (m) | 15.84% | 8.93% | (m) | (m) |
| 2015-06-30 | $137.09M | $869.99M | $71.87M | $39.22M | (m) | 15.76% | 8.26% | (m) | (m) |
| 2015-03-31 | $129.64M | $814.30M | $64.94M | $47.41M | (m) | 15.92% | 7.98% | (m) | (m) |
| 2014-12-31 | $122.88M | $770.36M | $58.99M | $59.32M | (m) | 15.95% | 7.66% | (m) | (m) |
| 2014-09-30 | $117.53M | $723.75M | $54.44M | $64.05M | (m) | 16.24% | 7.52% | (m) | (m) |
| 2014-06-30 | $113.16M | $685.10M | $51.55M | $66.88M | (m) | 16.52% | 7.52% | (m) | (m) |
| 2014-03-31 | $108.38M | $648.43M | $47.54M | $69.51M | (m) | 16.71% | 7.33% | (m) | (m) |
| 2013-12-31 | $102.66M | $615.30M | $43.91M | $72.09M | (m) | 16.68% | 7.14% | (m) | (m) |
| 2013-09-30 | $95.44M | $589.11M | $38.55M | $82.49M | (m) | 16.20% | 6.54% | (m) | (m) |
| 2013-06-30 | $89.52M | $570.68M | $35.60M | $89.98M | (m) | 15.69% | 6.24% | (m) | (m) |
| 2013-03-31 | $84.75M | $552.21M | $32.74M | $97.15M | (m) | 15.35% | 5.93% | (m) | (m) |
| 2012-12-31 | $81.08M | $533.64M | $30.69M | $100.47M | (m) | 15.19% | 5.75% | (m) | (m) |
| 2012-09-30 | $76.93M | $503.34M | $30.27M | $91.95M | (m) | 15.28% | 6.01% | (m) | (m) |
| 2012-06-30 | $73.27M | $483.50M | $27.17M | $92.35M | (m) | 15.15% | 5.62% | (m) | (m) |
| 2012-03-31 | $68.82M | $457.56M | $23.19M | $90.17M | (m) | 15.04% | 5.07% | (m) | (m) |
| 2011-12-31 | $63.58M | $433.58M | $19.02M | $88.90M | (m) | 14.66% | 4.39% | (m) | (m) |
| 2011-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-12-31 | $49.80M | $324.70M | $9.31M | $55.34M | (m) | 15.34% | 2.87% | (m) | (m) |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-12-31 | $42.20M | $252.12M | $7.46M | $25.33M | (m) | 16.74% | 2.96% | (m) | (m) |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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