FORTINET, INC. (FTNT) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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FORTINET, INC. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,140,800,000.00Deferred revenue → Operating adjustments reconciliation: $559,900,000.00Accounts receivable—net → Operating adjustments reconciliation: $235,100,000.00Amortization of deferred contract costs → Operating adjustments reconciliation: $190,900,000.00Stock-based compensation → Operating adjustments reconciliation: $151,800,000.00Depreciation and amortization → Operating adjustments reconciliation: $81,200,000.00Accrued liabilities → Operating adjustments reconciliation: $54,500,000.00Accounts payable → Operating adjustments reconciliation: $49,700,000.00Accrued payroll and compensation → Operating adjustments reconciliation: $10,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $979,900,000.00Operating adjustments reconciliation → Deferred contract costs: $240,500,000.00Operating adjustments reconciliation → Other: $47,700,000.00Operating adjustments reconciliation → Inventory: $38,000,000.00Operating adjustments reconciliation → Amortization of investment discounts: $9,300,000.00Operating adjustments reconciliation → Other assets: $9,000,000.00Operating adjustments reconciliation → Other liabilities: $4,600,000.00Operating adjustments reconciliation → Deferred tax assets: $3,600,000.00Operating adjustments reconciliation → Prepaid expenses and other current assets: $500,000.00Maturities of investments → investing reconciliation: $587,500,000.00Sales of investments → investing reconciliation: $118,400,000.00Other → investing reconciliation: $8,400,000.00investing reconciliation → Purchases of investments: $756,000,000.00investing reconciliation → Purchases of property and equipment: $148,600,000.00Net cash used in financing activities → financing reconciliation: $1,490,800,000.00Proceeds from issuance of common stock → financing reconciliation: $62,300,000.00financing reconciliation → Repurchase and retirement of common stock: $972,800,000.00financing reconciliation → Repayment of senior notes: $500,000,000.00financing reconciliation → Taxes paid related to net share settlement of equity awards: $59,100,000.00financing reconciliation → Other: $21,200,000.00Net cash used in investing activities → investing reconciliation: $190,300,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $2,495,300,000.00Net cash from operating activities → Cash sources and uses: $2,120,700,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,934,900,000.00Cash sources and uses → Net cash used in investing activities: $190,300,000.00Cash sources and uses → Net cash used in financing activities: $1,490,800,000.00Amortization of investment discounts: -$9,300,000.00Investment discount & premium−$9.30 MInventory: -$38,000,000.00Inventories−$38.00 MDeferred revenue: $559,900,000.00Deferred revenue+$559.90 MStock-based compensation: $151,800,000.00Stock-based compensation+$151.80 MAmortization of deferred contract costs: $190,900,000.00Contract cost amortization+$190.90 MOther liabilities: -$4,600,000.00Accrued & other liabilities−$4.60 MPrepaid expenses and other current assets: -$500,000.00Prepaid & other assets−$500.00 KDeferred tax assets: -$3,600,000.00Deferred tax balances−$3.60 MOther assets: -$9,000,000.00Other operating assets−$9.00 MOther: -$47,700,000.00Other non-cash items−$47.70 MAccounts payable: $49,700,000.00Accounts payable+$49.70 MAccounts receivable—net: $235,100,000.00Accounts receivable+$235.10 MDepreciation and amortization: $81,200,000.00Depreciation & amortization+$81.20 MDeferred contract costs: -$240,500,000.00Deferred costs−$240.50 MAccrued liabilities: $54,500,000.00Accrued liabilities+$54.50 MAccrued payroll and compensation: $10,000,000.00Accrued compensation+$10.00 MNet income: $1,140,800,000.00Net income+$1.14 BNet cash from operating activities: $2,120,700,000.00Operating cash+$2.12 BOperating adjustments reconciliation: $1,333,100,000.00Proceeds from issuance of common stock: $62,300,000.00Common stock issued+$62.30 MRepayment of senior notes: -$500,000,000.00Senior debt repaid−$500.00 MTaxes paid related to net share settlement of equity awards: -$59,100,000.00Stock-award tax withholding−$59.10 MRepurchase and retirement of common stock: -$972,800,000.00Common stock repurchases−$972.80 MOther: -$21,200,000.00Other financing, net−$21.20 MNet cash used in financing activities: -$1,490,800,000.00. Cash required to fund net payments.Financing cash−$1.49 Bfinancing reconciliation: $1,553,100,000.00Purchases of investments: -$756,000,000.00Other investment purchases−$756.00 MPurchases of property and equipment: -$148,600,000.00PP&E purchases−$148.60 MOther: $8,400,000.00Other investing, net+$8.40 MMaturities of investments: $587,500,000.00AFS securities maturities+$587.50 MPayments made in connection with business combinations, net of cash acquired: $0.00Sales of investments: $118,400,000.00AFS securities sales+$118.40 MNet cash used in investing activities: -$190,300,000.00. Cash required to fund net payments.Investing cash−$190.30 Minvesting reconciliation: $904,600,000.00Cash sources and uses: $4,616,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $2,495,300,000.00Beginning cash$2.50 BEnding cash: Cash, cash equivalents, and restricted cash: $2,934,900,000.00Ending cash$2.93 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$1.97 BOperating cash − cash spent on PP&ECash flow / Net income1.86×Operating cash flow ÷ net incomeNet cash change+$439.60 MEnding cash − beginning cash
Chart details

FORTINET, INC. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
2,495,300,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,120,700,000 US dollars. Net cash provided.
Net income
1,140,800,000 US dollars
Amortization of investment discounts
negative 9,300,000 US dollars
Inventory
negative 38,000,000 US dollars
Deferred revenue
559,900,000 US dollars
Stock-based compensation
151,800,000 US dollars
Amortization of deferred contract costs
190,900,000 US dollars
Other liabilities
negative 4,600,000 US dollars
Prepaid expenses and other current assets
negative 500,000 US dollars
Deferred tax assets
negative 3,600,000 US dollars
Other assets
negative 9,000,000 US dollars
Other
negative 47,700,000 US dollars
Accounts payable
49,700,000 US dollars
Accounts receivable—net
235,100,000 US dollars
Depreciation and amortization
81,200,000 US dollars
Deferred contract costs
negative 240,500,000 US dollars
Accrued liabilities
54,500,000 US dollars
Accrued payroll and compensation
10,000,000 US dollars
Investing activities
negative 190,300,000 US dollars. Net cash used.
Purchases of investments
negative 756,000,000 US dollars
Purchases of property and equipment
negative 148,600,000 US dollars
Other
8,400,000 US dollars
Maturities of investments
587,500,000 US dollars
Payments made in connection with business combinations, net of cash acquired
0 US dollars
Sales of investments
118,400,000 US dollars
Financing activities
negative 1,490,800,000 US dollars. Net cash used.
Proceeds from issuance of common stock
62,300,000 US dollars
Repayment of senior notes
negative 500,000,000 US dollars
Taxes paid related to net share settlement of equity awards
negative 59,100,000 US dollars
Repurchase and retirement of common stock
negative 972,800,000 US dollars
Other
negative 21,200,000 US dollars
Operating adjustment reconciliation
1,333,100,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,553,100,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
904,600,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
2,934,900,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
4,616,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
439,600,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.86×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,120,700,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
148,600,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
1,972,100,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $979.90M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,120,700,000 US dollars minus 148,600,000 US dollars equals 1,972,100,000 US dollars.
FORTINET, INC. (FTNT) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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