How do Fabrinet and Fortinet compare by revenue?

Fabrinet reported revenue of $1.1B in Q2 FY2026, while Fortinet reported $1.9B in Q4 FY2025. Fortinet is 1.7× larger by last-quarter revenue.

Which is growing revenue faster, Fabrinet or Fortinet?

Fabrinet's latest revenue grew 35.9% year-over-year, versus 14.8% for Fortinet. Fabrinet is growing faster on a YoY basis.

Which has a higher gross margin, Fabrinet or Fortinet?

Fabrinet's gross margin is 12.2% vs Fortinet's 79.6%. Fortinet converts more of each revenue dollar into gross profit.

Which has a higher net margin, Fabrinet or Fortinet?

Fabrinet's net margin is 9.9% vs Fortinet's 26.6%. Fortinet has the higher bottom-line margin.

Which generates more free cash flow, Fabrinet or Fortinet?

Fabrinet generated $-5.3M of free cash flow last quarter, versus $577.4M for Fortinet. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Fabrinet vs Fortinet?

Over the trailing 8 quarters, Fabrinet compounded revenue at roughly 24.4% per year, versus 18.6% for Fortinet. Fabrinet has the faster medium-term growth trajectory.

Where does this FN vs FTNT data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Fabrinet (FN) and Fortinet (FTNT). Click either name above to swap in a different company.

Fortinet is the larger business by last-quarter revenue ($1.9B vs $1.1B, roughly 1.7× Fabrinet). Fortinet runs the higher net margin — 26.6% vs 9.9%, a 16.6% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 14.8%). Fortinet produced more free cash flow last quarter ($577.4M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 18.6%).

FabrinetFNEarnings & Financial Report

NYSE · Consumer Discretionary · Telephone & Telegraph Apparatus

Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.

FortinetFTNTEarnings & Financial Report

Nasdaq · Information Technology · Computer Peripheral Equipment, NEC

Fortinet, Inc. is an American cybersecurity company headquartered in Sunnyvale, California. It develops and sells security products including firewalls, endpoint security and intrusion detection systems. Fortinet has offices in the US, Canada, and UK.

FN vs FTNT — Head-to-Head

Bigger by revenue

FTNT

1.7× larger

$1.9B

$1.1B

Growing faster (revenue YoY)

+21.1% gap

35.9%

14.8%

Higher net margin

FTNT

16.6% more per $

26.6%

9.9%

More free cash flow

FTNT

$582.7M more FCF

$577.4M

$-5.3M

Faster 2-yr revenue CAGR

Annualised

24.4%

18.6%

Income Statement — Q2 FY2026 vs Q4 FY2025

Metric	FN	FTNT
Revenue	$1.1B	$1.9B
Net Profit	$112.6M	$506.0M
Gross Margin	12.2%	79.6%
Operating Margin	10.1%	32.8%
Net Margin	9.9%	26.6%
Revenue YoY	35.9%	14.8%
Net Profit YoY	30.0%	-3.8%
EPS (diluted)	$3.11	$0.67

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue

FTNT

Q4 25	$1.1B	$1.9B
Q3 25	$978.1M	$1.7B
Q2 25	$909.7M	$1.6B
Q1 25	$871.8M	$1.5B
Q4 24	$833.6M	$1.7B
Q3 24	$804.2M	$1.5B
Q2 24	$753.3M	$1.4B
Q1 24	$731.5M	$1.4B

Net Profit

FTNT

Q4 25	$112.6M	$506.0M
Q3 25	$95.9M	$473.9M
Q2 25	$87.2M	$440.1M
Q1 25	$81.3M	$433.4M
Q4 24	$86.6M	$526.2M
Q3 24	$77.4M	$539.9M
Q2 24	$81.1M	$379.8M
Q1 24	$80.9M	$299.3M

Gross Margin

FTNT

Q4 25	12.2%	79.6%
Q3 25	11.9%	80.8%
Q2 25	12.2%	80.7%
Q1 25	11.7%	81.0%
Q4 24	12.1%	81.1%
Q3 24	12.3%	82.5%
Q2 24	12.3%	80.8%
Q1 24	12.4%	77.5%

Operating Margin

FTNT

Q4 25	10.1%	32.8%
Q3 25	9.6%	31.7%
Q2 25	9.8%	28.1%
Q1 25	9.0%	29.5%
Q4 24	9.5%	34.6%
Q3 24	9.6%	31.2%
Q2 24	9.7%	30.5%
Q1 24	9.7%	23.7%

Net Margin

FTNT

Q4 25	9.9%	26.6%
Q3 25	9.8%	27.5%
Q2 25	9.6%	27.0%
Q1 25	9.3%	28.1%
Q4 24	10.4%	31.7%
Q3 24	9.6%	35.8%
Q2 24	10.8%	26.5%
Q1 24	11.1%	22.1%

EPS (diluted)

FTNT

Q4 25	$3.11	$0.67
Q3 25	$2.66	$0.62
Q2 25	$2.41	$0.57
Q1 25	$2.25	$0.56
Q4 24	$2.38	$0.68
Q3 24	$2.13	$0.70
Q2 24	$2.22	$0.49
Q1 24	$2.21	$0.39

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	FN	FTNT
Cash + ST InvestmentsLiquidity on hand	$960.8M	$2.5B
Total DebtLower is stronger	—	—
Stockholders' EquityBook value	$2.2B	$1.2B
Total Assets	$3.3B	$10.4B
Debt / EquityLower = less leverage	—	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

FTNT

Q4 25	$960.8M	$2.5B
Q3 25	$968.8M	$2.0B
Q2 25	$934.2M	$3.4B
Q1 25	$950.7M	$3.6B
Q4 24	$934.6M	$2.9B
Q3 24	$908.9M	$2.5B
Q2 24	$858.6M	$2.2B
Q1 24	$794.0M	$1.9B

Stockholders' Equity

FTNT

Q4 25	$2.2B	$1.2B
Q3 25	$2.1B	$735.1M
Q2 25	$2.0B	$2.1B
Q1 25	$1.9B	$2.0B
Q4 24	$1.8B	$1.5B
Q3 24	$1.8B	$908.1M
Q2 24	$1.7B	$288.2M
Q1 24	$1.7B	$-137.5M

Total Assets

FTNT

Q4 25	$3.3B	$10.4B
Q3 25	$3.0B	$9.4B
Q2 25	$2.8B	$10.6B
Q1 25	$2.6B	$10.4B
Q4 24	$2.5B	$9.8B
Q3 24	$2.4B	$8.9B
Q2 24	$2.3B	$8.1B
Q1 24	$2.2B	$7.7B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	FN	FTNT
Operating Cash FlowLast quarter	$46.3M	$620.2M
Free Cash FlowOCF − Capex	$-5.3M	$577.4M
FCF MarginFCF / Revenue	-0.5%	30.3%
Capex IntensityCapex / Revenue	4.6%	2.2%
Cash ConversionOCF / Net Profit	0.41×	1.23×
TTM Free Cash FlowTrailing 4 quarters	$102.3M	$2.2B