• Fortinet average ebitda margin for 2023 was 30.27%, a 8.57% increase from 2022.
• Fortinet average ebitda margin for 2022 was 27.88%, a 1.68% increase from 2021.
• Fortinet average ebitda margin for 2021 was 27.42%, a 0.33% increase from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.