Fortinet stock split: what it means for traders
A stock split changes how shares are priced and how accessible they may appear, but it doesn’t affect a company’s overall market value. Interest in potential future splits often increases when a share price rises significantly or when sector peers adjust their share structures.
Fortinet (FTNT) has grown into a major cybersecurity provider, offering products across firewalls, secure networking, cloud security and threat intelligence. Its share performance has broadly reflected that expansion, supported by rising investment in network protection and the adoption of AI-enabled security tools.
The company has conducted two stock splits in its history, in 2011 and 2022. As of December 2025, there’s no public indication that another split is being considered for 2026. Instead, Fortinet is focusing on a large hardware refresh cycle and continued work on integrated security solutions.
Fortinet live share price
Past performance is not a reliable indicator of future results.
What is a stock split?
A stock split is a corporate action that increases the number of shares in circulation while reducing the price per share in the same proportion. The company’s market value remains unchanged, and investors keep the same economic exposure.
For example, in a 2-for-1 split, each existing share becomes two shares at around half the previous price. The number of shares held increases, but the total value at the point of the split stays the same.
Companies may split their shares to improve accessibility or increase liquidity, although splits don’t change revenue, earnings or underlying fundamentals.
Fortinet’s 2022 stock split
Fortinet completed a 5-for-1 forward stock split on 23 June 2022. Shareholders received five shares for every one previously held, and trading began on a split-adjusted basis straight afterwards.
This was the company’s second stock split. The first, a 2-for-1 forward split, took place in June 2011. Combined, the 2011 and 2022 actions mean that one pre-2011 share now represents ten shares.
The 2022 split followed a period of operational strength and required shareholder approval to increase the number of authorised shares.
Why did Fortinet conduct a share split?
The 2022 split followed a sustained rise in Fortinet’s share price and was intended to improve affordability and access. A lower per-share price can make the shares more approachable for a wider range of market participants. The split didn’t change Fortinet’s fundamentals, long-term strategy or valuation.
Will Fortinet split again in 2026?
As of 16 December 2025, Fortinet hasn’t indicated that another stock split is planned for 2026. There are no regulatory filings or corporate communications suggesting that a further adjustment to the share structure is being considered.
Any future decision would require board approval and, where necessary, shareholder approval. Whether the company revisits the idea would depend on market conditions, share-price developments and strategic priorities.
Fortinet stock split history
| Date | Split ratio | Type | Notes |
|---|---|---|---|
| 2 June 2011 | 2-for-1 | Forward | First stock split; each share became two. |
| 23 June 2022 | 5-for-1 | Forward | Second stock split; each share became five. Cumulative effect: 10-for-1 vs pre-2011. |
Across both actions, one Fortinet share purchased before 2011 now equates to ten shares.
Latest earnings: Fortinet FY / Q3 2025 results
Fortinet’s latest reported figures, covering the third quarter of 2025, show continued growth in revenue, billings and product performance.
Past performance is not a reliable indicator of future results.
Key Q3 2025 highlights
- Revenue of about $1.72bn, up roughly 14% year on year.
- Product revenue up around 18%, reflecting demand for next-generation hardware.
- Non-GAAP EPS of about $0.74.
- Operating margin in the mid-30% range.
Full-year 2025 expectations
- Total revenue of $6.72bn–$6.78bn.
- Billings of $7.37bn–$7.47bn.
- Non-GAAP EPS of $2.66–$2.70.
- Non-GAAP gross margin of 80–81%.
- Operating margin in the mid-30% range.
The figures reflect ongoing demand for both hardware and services as the company broadens its product suite and supports customers moving towards more integrated security solutions.
Outlook and upcoming developments
Fortinet’s near-term roadmap is shaped by two structural drivers:
1. A major firewall refresh cycle
Approximately 650,000 installed FortiGate units are expected to reach end-of-support by 2026. This creates an upgrade cycle likely to run through 2025–2027. Management has indicated that the cycle could generate several hundred million dollars in additional product revenue, depending on customer replacement activity.
2. Expansion of AI-enabled and cloud-aligned security products
Fortinet is advancing its AI-based threat-detection tools, secure data-centre offerings, SD-WAN solutions and security service edge capabilities. These areas align with broader industry shifts towards unified security architectures.
Summary
- Fortinet has completed two stock splits: 2-for-1 in 2011 and 5-for-1 in 2022.
- One pre-2011 share now equates to ten shares.
- As of December 2025, there’s no indication of a 2026 split.
- Q3 2025 revenue reached about $1.72bn, with continued product growth and strong margins.
- Upcoming developments focus on a major firewall refresh cycle and expansion of AI-supported security tools.
Create an account Open a demo account
FAQ
When did Fortinet stock split?
Fortinet has completed two stock splits: a 2-for-1 forward split in June 2011 and a 5-for-1 forward split in June 2022. Both actions increased the number of shares in circulation and reduced the price per share proportionally, without altering the company’s overall valuation.
When did the Fortinet stock split take effect?
The most recent 5-for-1 split applied to shares outstanding on 22 June 2022. Trading began on a split-adjusted basis on or around 23 June 2022, as reflected across corporate-action notices and market data sources.
Did Fortinet have a stock split before?
Yes. Fortinet carried out its first stock split in early June 2011. That 2-for-1 forward split doubled the number of shares outstanding and reduced the per-share price accordingly, while leaving investors’ economic exposure unchanged.
How many times has Fortinet stock split?
Fortinet has split its stock twice: once in 2011 and again in 2022. Together, these actions create a cumulative 10-for-1 effect relative to the pre-2011 share count.
How much was Fortinet stock after the split?
Just before the June 2022 5-for-1 split, Fortinet traded at roughly $278 per share. When trading moved to a split-adjusted basis, the price was around $57. Subsequent movements reflect broader market conditions. Past performance is not a reliable indicator of future results.
Why did Fortinet split its stock?
Fortinet cited strong operational performance and an increase in authorised share capacity as the basis for the June 2022 split. As with many forward splits, the aim was to improve accessibility and liquidity, without affecting the company’s underlying fundamentals.
Will Fortinet split again?
As of December 2025, Fortinet hasn’t announced plans for another stock split. There are no regulatory filings or corporate statements indicating that a further adjustment is under consideration. Any future split would require board approval and, where relevant, shareholder authorisation.
What was the most recent Fortinet stock split date?
Fortinet’s most recent split took place in June 2022, with the ex-distribution date recorded as 23 June 2022. Trading on a split-adjusted basis began at the same time, reflecting the 5-for-1 ratio.
How can I trade Fortinet CFDs on Capital.com?
You can trade Fortinet share CFDs on Capital.com by speculating on price movements without owning the underlying shares, going long or short depending on your outlook. Contracts for difference (CFDs) are traded on margin – leverage amplifies both profits and losses. Understand how CFDs work and how to use risk-management tools such as take-profit and stop-loss orders before opening a position. Past performance isn’t a reliable indicator of future results.*
*Standard stop-loss orders are not guaranteed. Guaranteed stop-loss orders incur a fee if activated.