Fortinet, Inc. FTNT NASDAQ

Fortinet, Inc. (FTNT) generated $2.59B in operating cash flow for fiscal year 2025. After capital expenditures of $364.8M, free cash flow was $2.23B.

Free cash flow margin was 32.7% of revenue. Cash conversion ratio was 1.4x, indicating earnings are backed by cash.

The company returned $2.29B in share buybacks to shareholders during the period.

Criteria supported by this page:

• HEALTH (67/100, Partial) — cash generation is adequate but may not fully cover debt in stressed conditions
• MOAT (80/100, Pass) — $2.23B (32.7% FCF margin) supports a durable competitive advantage
• INCOME (85/100) — Cash conversion ratio was 1.4x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 72/100 with 4/7 criteria passed.