In Q1'26, Fortinet's (FTNT) Operating Cash Flow reached $1.08B USD, marking a significant increase from $620M USD in Q4'25 and the highest quarterly figure in the observed period. Free Cash Flow for the same quarter stood at $1.01B USD, up from $577M USD in the prior quarter, reflecting robust cash generation capabilities. Over the period from Q2'23 to Q1'26, Operating Cash Flow exhibited volatility with an overall upward trajectory, starting at $515M USD and peaking at $1.08B USD, driven by strong quarters like Q1'24 ($830M USD) and Q1'25 ($863M USD) amid occasional dips such as Q4'23 ($192M USD). Free Cash Flow followed a similar pattern, fluctuating between $165M USD in Q4'23 and $1.01B USD in Q1'26, consistently trailing Operating Cash Flow by about 7-10% due to capital expenditures, yet demonstrating sustained improvement and resilience in cash conversion efficiency.