FTNT (Fortinet) Tax Rate %: 18.58% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FTNT Fortinet Inc FTNT
91 GF Score
Price $161.61
GF Value $99.97
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Fortinet Tax Rate %?

Fortinet FTNT +0.52% 91 Tax Rate % is 18.58% as of Mar. 2026. GuruFocus rates FTNT with a GF Score™ of 91/100 and a GF Value™ of $99.97 (Significantly Overvalued). The stock has 5 warning signs investors should review.

Tax Rate % is calculated as Tax Expense divided by its Pre-Tax Income. Fortinet's Tax Expense for the three months ended in Mar. 2026 was $122 Mil. Fortinet's Pre-Tax Income for the three months ended in Mar. 2026 was $657 Mil. Therefore, Fortinet's Tax Rate % for the quarter that ended in Mar. 2026 was 18.58%.

Fortinet Tax Rate % Related Terms

Fortinet Tax Rate % Historical Data

* Premium members only.

The historical data trend for Fortinet's Tax Rate % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Fortinet Tax Rate % Chart

Fortinet Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Tax Rate %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.24 3.22 10.78 13.79 19.24

Fortinet Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Tax Rate % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.58 14.90 20.29 22.25 18.58
FTNT
91GF Score
Fortinet Inc FTNT
Tax Rate % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fortinet Tax Rate % Calculation

Tax Rate % is the ratio of tax expense divided by pretax income, usually presented in percent.

Fortinet's Tax Rate % for the fiscal year that ended in Dec. 2025 is calculated as

Tax Rate %=Tax Expense (A: Dec. 2025 )/Pre-Tax Income (A: Dec. 2025 )
=439.1/2282.2
=19.24 %

Fortinet's Tax Rate % for the quarter that ended in Mar. 2026 is calculated as

Tax Rate %=Tax Expense (Q: Mar. 2026 )/Pre-Tax Income (Q: Mar. 2026 )
=122/656.6
=18.58 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Tax Rate % →
What does a Tax Rate % of 18.58% mean?
Fortinet (FTNT) has a Tax Rate % of 18.58% as of Mar. 2026.
Is Fortinet's Tax Rate % too high?
Fortinet's current Tax Rate % is 18.58%. Overall, Fortinet has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fortinet's Tax Rate % compare to SNPS and NET?
Fortinet's Tax Rate % of 18.58% can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Tax Rate % for a Software company?
A good Tax Rate % depends on the Software industry context. However, Tax Rate % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Tax Rate % mean?
A high Tax Rate % can signal that a stock is expensive relative to its fundamentals. Fortinet's current Tax Rate % is 18.58%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fortinet stock overvalued right now?
Based on GuruFocus' analysis, Fortinet (FTNT) is currently considered Significantly Overvalued. The stock's GF Value™ is $99.97, compared to a current price of $161.61 — trading 61.7% above its estimated fair value. The current Tax Rate % is 18.58%. Fortinet's overall GF Score™ is 91/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Tax Rate % calculated?
Tax Rate % is calculated from a company's financial statements. For Fortinet (FTNT), the current Tax Rate % is 18.58% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Fortinet (FTNT) Overvalued in 2026?

Based on GuruFocus' analysis, Fortinet stock appears to be overvalued. The current stock price of $161.61 is trading 61.7% above its estimated GF Value™ of $99.97. GuruFocus considers Fortinet to be Significantly Overvalued.

Key valuation signals for FTNT:

  • Tax Rate %: 18.58%
  • GF Value™: $99.97 vs. price of $161.61 (61.7% above fair value)
  • GF Score™: 91/100 with 5 warning signs

No single metric tells the full story. See the FTNT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Fortinet Business Description

Address 909 Kifer Road, Sunnyvale, CA, USA, 94086
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 800,000 customers across the world.
91GF Score

Get the complete analysis for FTNT

Tax Rate % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$161.61
Price
$99.97
GF Value