• Fortinet average gross margin for 2023 was 76.33%, a 1.33% increase from 2022.
• Fortinet average gross margin for 2022 was 75.33%, a 2.59% increase from 2021.
• Fortinet average gross margin for 2021 was 77.33%, a 0.4% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.