Hollsteen

Fortinet

Dependency

Two customers: 43% of revenue

43%28% + 15%, FY2025
●43% of revenue■Revenue FY2025CUSTOMERS ●Customer A (not named in the filing)Customer A28%Customer B (not named in the filing)Customer B15%HOLDINGS ◆No holding between Fortinet and the other 99 companies found in SEC filings (not reported).not reportedREGIONS ■USA28.4%SUPPLIERS ○No supplier shares in the dataset: SEC XBRL does not tag supplier concentration as a share of revenue or purchases; filing texts are not interpreted for this.not in datasetFortinet$6.8B · FY2025
Fortinet$6.8B · FY2025

Customers

Customer A28%
Customer B15%

Holdings

not reported

Regions

USA28.4%

Suppliers

not in dataset

Line: solid ● customers (share of revenue) · dashed ◆ holding · dotted ■ revenue by region · grey ○ no data. Customers are not named in the filing.

Relationships

15 documented relationships

TypeCounterpartyValuePeriodConfidenceReverse edge
names as supplierTSMC–Dec 31, 20250.7no
names as supplierAMD–Dec 31, 20250.7no
names as supplierIntel–Dec 31, 20250.7no
names as supplierMicrosoft–Dec 31, 20250.7no
names as supplierAlphabet–Dec 31, 20250.7no
names as supplierAmazon–Dec 31, 20250.7no
names (role not stated)Microsoft–Dec 31, 20250.6no
names (role not stated)Alphabet–Dec 31, 20250.6no
names (role not stated)Amazon–Dec 31, 20250.6no
names (role not stated)Broadcom–Dec 31, 20250.6no
names (role not stated)Micron–Dec 31, 20250.6no
names (role not stated)Marvell–Dec 31, 20250.6no
names (role not stated)Qualcomm–Dec 31, 20250.6no
names (role not stated)Western Digital–Dec 31, 20250.6no
names us (role not stated)HPE–Oct 31, 20250.6no
Region (share)Europe Middle East And Africa41.7%a12 months to Dec 31, 20251.0–
Region (share)Americas39.7%a12 months to Dec 31, 20251.0–
Region (share)USA28.4%a12 months to Dec 31, 20251.0–

Related party: not reported – No related-party statement naming any of the 100 covered companies (0 related-party statements in the 10-K filed Feb 25, 2026, none referring to them).

Holdings: not reported – No holding between this company and the other 99 companies in 13F-HR / 13G / Filing-Text.

SEC filings only, quotes in the sources. Confidence 1.0 XBRL/13F · 0.9 quote with value · 0.7 mention without value. 10 competitor mentions not counted as dependencies.

Revenue

Revenue FY2025: +14.2% vs. FY2024

$6.8BFY2025
Revenue · FY2016: $1.3B · 10-K 0001262039-19-000006 filed Feb 27, 2019Revenue · FY2017: $1.5B · 10-K 0001262039-19-000006 filed Feb 27, 2019Revenue · FY2018: $1.8B · 10-K 0001262039-21-000008 filed Feb 19, 2021Revenue · FY2019: $2.2B · 10-K 0001262039-21-000008 filed Feb 19, 2021Revenue · FY2020: $2.6B · 10-K 0001262039-21-000008 filed Feb 19, 2021Revenue · FY2021: $3.3B · 10-K 0001262039-22-000008 filed Feb 25, 2022Revenue · FY2022: $4.4B · 10-K 0001262039-23-000010 filed Feb 24, 2023Revenue · FY2023: $5.3B · 10-K 0001262039-24-000014 filed Feb 26, 2024Revenue · FY2024: $6.0B · 10-K 0001262039-25-000011 filed Feb 21, 2025Revenue · FY2025: $6.8B · 10-K 0001262039-26-000007 filed Feb 25, 20266.81.3FY2016FY2025FY2021
Revenue · FY2020: $2.6B · 10-K 0001262039-21-000008 filed Feb 19, 2021Revenue · FY2021: $3.3B · 10-K 0001262039-22-000008 filed Feb 25, 2022Revenue · FY2022: $4.4B · 10-K 0001262039-23-000010 filed Feb 24, 2023Revenue · FY2023: $5.3B · 10-K 0001262039-24-000014 filed Feb 26, 2024Revenue · FY2024: $6.0B · 10-K 0001262039-25-000011 filed Feb 21, 2025Revenue · FY2025: $6.8B · 10-K 0001262039-26-000007 filed Feb 25, 20266.82.6FY2020FY2025FY2023

$B per fiscal year. No segment mix chart: The reported parts (us-gaap:StatementBusinessSegmentsAxis, srt:ProductOrServiceAxis) do not sum exactly to consolidated revenue in any fiscal year; no stack without an exact reconciliation.

Debt

Total debt FY2025: +0.2% vs. FY2024

$996MaInterest expense $20.1M (FY2025)
Total debt FY2016: not reportedTotal debt FY2017: not reportedTotal debt FY2018: not reportedTotal debt FY2019: not reportedTotal debt FY2020: $0.00 – Total debt = current portion of long-term debt $0.00 (us-gaap:LongTermDebtCurrent, 10-Q 0001262039-21-000030) + long-term debt $0.00 (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-22-000008) = $0.00Total debt FY2021: $988M – Total debt = long-term debt $988M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-22-000008) = $988M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2022: $990M – Total debt = long-term debt $990M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-23-000010) = $990M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2023: $992M – Total debt = long-term debt $992M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-24-000014) = $992M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2024: $994M – Total debt = current portion of long-term debt $0.00 (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $994M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-25-000011) = $994MTotal debt FY2025: $996M – Total debt = current portion of long-term debt $500M (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $497M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-26-000007) = $996Mnot reported996a0aFY2016FY2025FY2021
Total debt FY2020: $0.00 – Total debt = current portion of long-term debt $0.00 (us-gaap:LongTermDebtCurrent, 10-Q 0001262039-21-000030) + long-term debt $0.00 (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-22-000008) = $0.00Total debt FY2021: $988M – Total debt = long-term debt $988M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-22-000008) = $988M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2022: $990M – Total debt = long-term debt $990M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-23-000010) = $990M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2023: $992M – Total debt = long-term debt $992M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-24-000014) = $992M; current portion not tagged in the filing (no short-term debt reported, or not tagged)Total debt FY2024: $994M – Total debt = current portion of long-term debt $0.00 (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $994M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-25-000011) = $994MTotal debt FY2025: $996M – Total debt = current portion of long-term debt $500M (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $497M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-26-000007) = $996M996a0aFY2020FY2025FY2023

$M per fiscal year, as of fiscal year end. a = derived from reported components (calculation in the tooltip and in the sources). Not reported: FY2016, FY2017, FY2018, FY2019.

All metrics →
Sources (27)

Dependency

Relationships (quotes)

  • names as supplier TSMC 10-K, filed Feb 25, 2026 0001262039-26-000007
    “These contract manufacturers use foundries in Taiwan and Japan operated by either Taiwan Semiconductor Manufacturing Company Limited (“TSMC”) or by the contract manufacturer itself.”
  • names as supplier AMD 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names as supplier Intel 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names as supplier Microsoft 10-K, filed Feb 25, 2026 0001262039-26-000007
    “We rely on public cloud providers, such as Amazon Web Services, Microsoft Azure and Google Cloud colocation providers, such as Equinix, and our own data centers and PoPs, and any availability interruption in any of these cloud solutions could result in us not meeting our service-level commitments to our customers.”
  • names as supplier Alphabet 10-K, filed Feb 25, 2026 0001262039-26-000007
    “We rely on public cloud providers, such as Amazon Web Services, Microsoft Azure and Google Cloud colocation providers, such as Equinix, and our own data centers and PoPs, and any availability interruption in any of these cloud solutions could result in us not meeting our service-level commitments to our customers.”
  • names as supplier Amazon 10-K, filed Feb 25, 2026 0001262039-26-000007
    “We rely on public cloud providers, such as Amazon Web Services, Microsoft Azure and Google Cloud colocation providers, such as Equinix, and our own data centers and PoPs, and any availability interruption in any of these cloud solutions could result in us not meeting our service-level commitments to our customers.”
  • names (role not stated) Microsoft 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Depending on the solution or form factor purchased, customers may also access our products via the cloud through our data centers and PoPs, third-party colocations and cloud providers such as Amazon Web Services, 5 Table of Contents Microsoft Azure and Google Cloud.”
  • names (role not stated) Alphabet 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Depending on the solution or form factor purchased, customers may also access our products via the cloud through our data centers and PoPs, third-party colocations and cloud providers such as Amazon Web Services, 5 Table of Contents Microsoft Azure and Google Cloud.”
  • names (role not stated) Amazon 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Depending on the solution or form factor purchased, customers may also access our products via the cloud through our data centers and PoPs, third-party colocations and cloud providers such as Amazon Web Services, 5 Table of Contents Microsoft Azure and Google Cloud.”
  • names (role not stated) Broadcom 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names (role not stated) Micron 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names (role not stated) Marvell 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names (role not stated) Qualcomm 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names (role not stated) Western Digital 10-K, filed Feb 25, 2026 0001262039-26-000007
    “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.”
  • names us (role not stated) HPE 10-K, filed Dec 18, 2025 0001645590-25-000130
    “Ltd., Ciena Corporation, NVIDIA Corporation, Extreme Networks, Inc., Palo Alto Networks, Fortinet, Inc., Zscaler, Inc., Netskope, Inc., Ruckus Networks, and Ubiquiti and networking-as-a-service vendors such as Nile and Meter.”
  • Region (share) Europe Middle East And Africa 10-K, filed Feb 25, 2026 0001262039-26-000007
    “XBRL-Fakt ftnt:EuropeMiddleEastAndAfricaMember (id f-1553) / Gesamt (id f-1559)” · Calculation: RevenueFromContractWithCustomerExcludingAssessedTax[ftnt:EuropeMiddleEastAndAfricaMember] 2,834,300,000 / RevenueFromContractWithCustomerExcludingAssessedTax total 6,799,600,000 (period 2025-01-01–2025-12-31)
  • Region (share) Americas 10-K, filed Feb 25, 2026 0001262039-26-000007
    “XBRL-Fakt srt:AmericasMember (id f-1550) / Gesamt (id f-1559)” · Calculation: RevenueFromContractWithCustomerExcludingAssessedTax[srt:AmericasMember] 2,700,400,000 / RevenueFromContractWithCustomerExcludingAssessedTax total 6,799,600,000 (period 2025-01-01–2025-12-31)
  • Region (share) USA 10-K, filed Feb 25, 2026 0001262039-26-000007
    “XBRL-Fakt country:US (id f-1544) / Gesamt (id f-1559)” · Calculation: RevenueFromContractWithCustomerExcludingAssessedTax[country:US] 1,929,500,000 / RevenueFromContractWithCustomerExcludingAssessedTax total 6,799,600,000 (period 2025-01-01–2025-12-31)

Revenue

Debt

  • Total debt FY2023 10-K, filed Feb 26, 2024 0001262039-24-000014
    Total debt = long-term debt $992M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-24-000014) = $992M; current portion not tagged in the filing (no short-term debt reported, or not tagged)
  • Total debt FY2024 10-K, filed Feb 25, 2026 0001262039-26-000007
    Total debt = current portion of long-term debt $0.00 (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $994M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-25-000011) = $994M
  • Total debt FY2025 10-K, filed Feb 25, 2026 0001262039-26-000007
    Total debt = current portion of long-term debt $500M (us-gaap:LongTermDebtCurrent, 10-K 0001262039-26-000007) + long-term debt $497M (us-gaap:LongTermDebtNoncurrent, 10-K 0001262039-26-000007) = $996M
  • Interest expense FY2025 10-K, filed Feb 25, 2026 0001262039-26-000007

Data quality

Legal name
Fortinet, Inc.
CIK
0001262039
Period
FY2016 – Q2 2026
Coverage
95.3% · 1096 reported · 414 derived · 74 missing · 366 not reported

missing = the company reports the value, it is not (yet) captured here · not reported = the company does not disclose the value · a = derived · ~ = reported rounded only.