Fortinet Financials

FTNT Stock  USD 86.72  0.79  0.92%   
Based on the key indicators related to Fortinet's liquidity, profitability, solvency, and operating efficiency, Fortinet is performing exceptionally good at the present time. It has a great chance to report excellent financial results in March. At this time, Fortinet's Accounts Payable is comparatively stable compared to the past year. Cash is likely to gain to about 2.6 B in 2026, whereas Other Assets are likely to drop 1.09 in 2026.
 
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Fortinet Balance Sheet Chart

At this time, Fortinet's Accounts Payable is comparatively stable compared to the past year. Cash is likely to gain to about 2.6 B in 2026, whereas Other Assets are likely to drop 1.09 in 2026.
Key indicators impacting Fortinet's financial strength include:
Current ValueLast YearChange From Last Year 10 Year Trend
Current Ratio1.791.1721
Way Up
Slightly volatile
The financial analysis of Fortinet is a critical element in measuring its lifeblood. Investors should carefully consider Fortinet's ability to pay suppliers or employees on time, ensuring interest payments are not accumulating.

Net Income

1.95 Billion

  
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Understanding current and past Fortinet Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Fortinet's financial statements are interrelated, with each one affecting the others. For example, an increase in Fortinet's assets may result in an increase in income on the income statement.

Fortinet Earnings Geography

Please note, the imprecision that can be found in Fortinet's accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Fortinet. Check Fortinet's Beneish M Score to see the likelihood of Fortinet's management manipulating its earnings.

Fortinet Stock Summary

Fortinet competes with CoreWeave, Motorola Solutions, Autodesk, Infosys, and Synopsys. Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California. Fortinet operates under SoftwareInfrastructure classification in the United States and is traded on NASDAQ Exchange. It employs 12091 people.
Specialization
Information Technology, Software - Infrastructure
InstrumentUSA Stock View All
ExchangeNASDAQ Exchange
ISINUS34959E1091
Business Address909 Kifer Road,
SectorSoftware
IndustryInformation Technology
BenchmarkDow Jones Industrial
Websitewww.fortinet.com
Phone408 235 7700
CurrencyUSD - US Dollar

Fortinet Key Financial Ratios

Fortinet Key Balance Sheet Accounts

202120222023202420252026 (projected)
Total Assets5.9B6.2B7.3B9.8B10.4B10.9B
Other Current Liab366M452.5M602.4M593.6M4.3B4.5B
Other Liab1.1B1.4B1.8B2.4B2.7B2.9B
Net Debt(330.7M)(692.5M)(405.6M)(1.9B)(1.5B)(1.4B)
Retained Earnings(467.9M)(1.5B)(1.9B)(117.1M)(507.9M)(482.5M)
Accounts Payable148.4M243.4M204.3M190.9M230.8M242.3M
Cash1.3B1.7B1.4B2.9B2.5B2.6B
Other Assets480M732M1.0B1.2B1.151.09
Net Receivables807.7M1.3B1.4B1.5B1.7B1.8B
Inventory175.8M264.6M484.8M315.5M399.5M419.5M
Other Current Assets65.4M73.1M101.1M126.1M227M238.4M
Total Liab5.1B6.5B7.7B8.3B9.2B9.6B
Total Current Assets3.6B3.8B4.4B6.0B5.9B6.2B
Short Term Debt26.3M33.2M33.4M32.7M499.7M524.7M
Intangible Assets63.6M56M35.3M115M354.7M372.4M
Net Tangible Assets1.2B731.4M593M(281.6M)(253.4M)(240.8M)
Capital Surpluse1.2B1.2B1.3B1.3B1.5B973.4M

Fortinet Key Income Statement Accounts

The reason investors look at the income statement is to determine what Fortinet's earnings per share (EPS) will be for research and analysis purposes. For example, if a company earned $20 million in the last quarter and has 100,000 shares outstanding, its EPS is 20 cents. If you find that this number beats analysts' forecasts or is higher than it was from the same period last year, this information can be used for research and educational purposes even though its price per share may not have changed.
202120222023202420252026 (projected)
Interest Expense14.9M18M21M20M20.1M14.5M
Total Revenue3.3B4.4B5.3B6.0B6.8B7.1B
Gross Profit2.6B3.3B4.1B4.8B5.5B5.8B
Operating Income650.4M969.6M1.2B1.8B2.1B2.2B
Ebit643.3M973.5M1.2B2.1B2.3B2.4B
Research Development424.2M512.4M613.8M716.8M815.5M856.3M
Ebitda727.7M1.1B1.2B2.2B2.4B2.5B
Cost Of Revenue783M1.1B1.2B1.2B1.3B1.4B
Income Before Tax620.8M887.4M1.3B2.0B2.3B2.4B
Net Income606.8M857.3M1.1B1.7B1.9B1.9B
Income Tax Expense14.1M30.8M143.8M283.9M439.1M461.1M
Tax Provision14.1M30.8M57.8M283.9M326.5M342.8M
Interest Income4.5M17.4M98.3M155.2M178.5M187.4M
Net Interest Income(10.4M)(600K)78.2M135.2M155.5M163.3M

Fortinet Key Cash Accounts

202120222023202420252026 (projected)
Change To Inventory(19.4M)(109.1M)(253.5M)131.2M(90.6M)(86.1M)
Change In Cash257.3M363.8M(285M)1.5B(380.6M)(361.6M)
Free Cash Flow1.2B1.4B1.7B1.9B2.2B2.3B
Depreciation84.4M104.3M113.4M122.8M336.3M353.1M
Other Non Cash Items183.8M319.4M299.2M152.8M65.6M80.0M
Capital Expenditures295.9M281.2M204.1M378.9M364.8M383.0M
Net Income606.7M856.6M1.1B1.7B1.9B1.9B
End Period Cash Flow1.3B1.7B1.4B2.9B2.5B2.6B
Change To Netincome197.6M187.2M230.2M82.6M95.0M87.3M
Investments(1.3B)763.9M(360.3M)(727.4M)(654.7M)(621.9M)
Change Receivables(96.7M)(176.4M)(72.5M)(456.7M)(411.0M)(390.5M)

Fortinet Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Fortinet's current stock value. Our valuation model uses many indicators to compare Fortinet value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Fortinet competition to find correlations between indicators driving Fortinet's intrinsic value. More Info.
Fortinet is one of the top stocks in return on equity category among its peers. It is rated # 4 in return on asset category among its peers reporting about  0.09  of Return On Asset per Return On Equity. The ratio of Return On Equity to Return On Asset for Fortinet is roughly  10.55 . At this time, Fortinet's Return On Equity is comparatively stable compared to the past year. Comparative valuation analysis is a catch-all technique that is used if you cannot value Fortinet by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.
Most indicators from Fortinet's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Fortinet current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortinet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.
For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.At this time, Fortinet's Selling General Administrative is comparatively stable compared to the past year. Tax Provision is likely to gain to about 342.8 M in 2026, whereas Issuance Of Capital Stock is likely to drop slightly above 35.9 M in 2026.
 2023 2024 2025 2026 (projected)
Interest Expense21M20M20.1M14.5M
Depreciation And Amortization379.7M122.8M152M159.6M

Fortinet fundamental ratios Correlations

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-0.180.990.80.260.981.01.0-0.71-0.580.950.950.990.930.060.950.990.950.710.970.950.920.780.990.990.98
0.340.340.390.260.170.280.27-0.710.590.120.450.320.33-0.140.460.20.080.350.130.050.380.320.20.290.36
-0.170.970.690.980.170.970.98-0.67-0.670.990.930.960.870.250.940.990.920.760.990.940.830.830.990.940.97
-0.210.990.811.00.280.971.0-0.71-0.540.930.951.00.930.030.950.990.940.70.970.930.930.750.990.990.98
-0.180.990.781.00.270.981.0-0.72-0.570.950.950.990.910.060.961.00.950.720.980.950.910.791.00.990.99
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0.26-0.51-0.22-0.580.59-0.67-0.54-0.570.05-0.71-0.41-0.5-0.41-0.34-0.42-0.63-0.64-0.39-0.67-0.72-0.34-0.5-0.63-0.51-0.51
-0.120.940.660.950.120.990.930.95-0.65-0.710.90.920.830.320.910.970.910.710.960.920.80.830.960.90.94
-0.10.970.70.950.450.930.950.95-0.86-0.410.90.950.830.120.990.940.870.740.920.850.840.830.940.940.98
-0.190.990.810.990.320.961.00.99-0.69-0.50.920.950.940.030.950.980.930.720.970.920.930.750.990.990.98
-0.170.910.960.930.330.870.930.91-0.61-0.410.830.830.94-0.030.830.90.860.530.850.840.970.590.890.930.87
0.160.08-0.220.06-0.140.250.030.06-0.04-0.340.320.120.03-0.030.150.12-0.030.270.15-0.01-0.180.340.11-0.070.12
-0.070.980.680.950.460.940.950.96-0.83-0.420.910.990.950.830.150.940.840.820.930.860.830.860.950.930.99
-0.180.990.750.990.20.990.991.0-0.7-0.630.970.940.980.90.120.940.960.720.980.960.880.81.00.980.98
-0.220.920.740.950.080.920.940.95-0.6-0.640.910.870.930.86-0.030.840.960.560.940.940.880.680.950.950.9
-0.070.760.330.710.350.760.70.72-0.57-0.390.710.740.720.530.270.820.720.560.760.690.530.890.740.680.79
-0.240.970.670.970.130.990.970.98-0.62-0.670.960.920.970.850.150.930.980.940.760.950.830.80.990.960.97
-0.190.930.70.950.050.940.930.95-0.56-0.720.920.850.920.84-0.010.860.960.940.690.950.840.750.960.940.92
-0.120.90.940.920.380.830.930.91-0.64-0.340.80.840.930.97-0.180.830.880.880.530.830.840.580.880.940.87
0.00.810.40.780.320.830.750.79-0.74-0.50.830.830.750.590.340.860.80.680.890.80.750.580.790.730.84
-0.210.990.740.990.20.990.991.0-0.67-0.630.960.940.990.890.110.951.00.950.740.990.960.880.790.980.98
-0.240.980.820.990.290.940.990.99-0.7-0.510.90.940.990.93-0.070.930.980.950.680.960.940.940.730.980.97
-0.111.00.720.980.360.970.980.99-0.78-0.510.940.980.980.870.120.990.980.90.790.970.920.870.840.980.97
Click cells to compare fundamentals

Fortinet Account Relationship Matchups

Fortinet fundamental ratios Accounts

202120222023202420252026 (projected)
Total Assets5.9B6.2B7.3B9.8B10.4B10.9B
Other Current Liab366M452.5M602.4M593.6M4.3B4.5B
Other Liab1.1B1.4B1.8B2.4B2.7B2.9B
Net Debt(330.7M)(692.5M)(405.6M)(1.9B)(1.5B)(1.4B)
Retained Earnings(467.9M)(1.5B)(1.9B)(117.1M)(507.9M)(482.5M)
Accounts Payable148.4M243.4M204.3M190.9M230.8M242.3M
Cash1.3B1.7B1.4B2.9B2.5B2.6B
Other Assets480M732M1.0B1.2B1.151.09
Net Receivables807.7M1.3B1.4B1.5B1.7B1.8B
Inventory175.8M264.6M484.8M315.5M399.5M419.5M
Other Current Assets65.4M73.1M101.1M126.1M227M238.4M
Total Liab5.1B6.5B7.7B8.3B9.2B9.6B
Total Current Assets3.6B3.8B4.4B6.0B5.9B6.2B
Short Term Debt26.3M33.2M33.4M32.7M499.7M524.7M
Intangible Assets63.6M56M35.3M115M354.7M372.4M
Net Tangible Assets1.2B731.4M593M(281.6M)(253.4M)(240.8M)
Capital Surpluse1.2B1.2B1.3B1.3B1.5B973.4M
Today, most investors in Fortinet Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Fortinet's growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Fortinet growth as a starting point in their analysis.

Price Earnings To Growth Ratio

4.57

At this time, Fortinet's Price Earnings To Growth Ratio is comparatively stable compared to the past year.

Fortinet February 10, 2026 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of Fortinet help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Fortinet. We use our internally-developed statistical techniques to arrive at the intrinsic value of Fortinet based on widely used predictive technical indicators. In general, we focus on analyzing Fortinet Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Fortinet's daily price indicators and compare them against related drivers.

Additional Tools for Fortinet Stock Analysis

When running Fortinet's price analysis, check to measure Fortinet's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortinet is operating at the current time. Most of Fortinet's value examination focuses on studying past and present price action to predict the probability of Fortinet's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortinet's price. Additionally, you may evaluate how the addition of Fortinet to your portfolios can decrease your overall portfolio volatility.