Fortinet Financial Statements From 2010 to 2022

FTNT
 Stock
  

USD 57.37  0.79  1.40%   

Fortinet financial statements provide useful quarterly and yearly information to potential Fortinet investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Historical trend examination of various income statement and balance sheet accounts found on Fortinet financial statements helps investors assess Fortinet's valuation, profitability, and current liquidity needs.
There are currently one hundred six fundamental signals for Fortinet that can be evaluated and compared over time across rivals. Make sure you verify Fortinet's prevailing fundamentals against the performance from 2010 to 2022 and make sure the trends continue to evolve in the right direction.
Fortinet Market Capitalization is comparatively stable at the moment as compared to the past year. Fortinet reported Market Capitalization of 58.76 Billion in 2021. Tangible Asset Value is likely to gain to about 6.2 B in 2022, whereas Working Capital is likely to drop slightly above 1.1 B in 2022.
  
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Check Fortinet financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Fortinet main balance sheet or income statement drivers, such as Direct Expenses of 844.8 M, Consolidated Income of 654.6 M or Cost of Revenue of 622.2 M, as well as many exotic indicators such as Interest Coverage of 55.56, Long Term Debt to Equity of 1.13 or Calculated Tax Rate of 2.3. Fortinet financial statements analysis is a perfect complement when working with Fortinet Valuation or Volatility modules. It can also supplement various Fortinet Technical models. Please check the analysis of Fortinet Correlation against competitors.

Fortinet Revenues

3.61 Billion

Share

Fortinet Balance Sheet

Current ValueLast YearHistorical Average 10 Year Trend
Total Assets6.4 B5.9 B2.7 B
Increasing
Slightly volatile
Cash and Equivalents1.1 B1.3 B656 M
Increasing
Slightly volatile
Investments1.3 B1.7 B786.9 M
Increasing
Slightly volatile
Investments Current1.3 B1.2 B586.4 M
Increasing
Slightly volatile
Investments Non Current475.6 M440.8 M237.5 M
Increasing
Stable
Deferred Revenue3.7 B3.5 B1.4 B
Increasing
Slightly volatile
Property Plant and Equipment Net741.9 M687.6 M238.8 M
Increasing
Slightly volatile
Inventory142.4 M175.8 M85 M
Increasing
Slightly volatile
Tax Assets274.2 M342.3 M162.8 M
Increasing
Slightly volatile
Trade and Non Trade Receivables871.5 M807.7 M378.7 M
Increasing
Slightly volatile
Trade and Non Trade Payables119.5 M148.4 M71.3 M
Increasing
Slightly volatile
Goodwill and Intangible Assets203.6 M188.7 M60.8 M
Increasing
Slightly volatile
Total Liabilities5.5 B5.1 B1.9 B
Increasing
Slightly volatile
Shareholders Equity848.5 M781.7 M731.6 M
Increasing
Slightly volatile
Accumulated Retained Earnings Deficit(480.2 M)(467.9 M)(75.1 M)
Decreasing
Slightly volatile
Accumulated Other Comprehensive Income(4.9 M)(4.8 M)(506.6 K)
Decreasing
Slightly volatile
Current Assets2.9 B3.6 B1.7 B
Increasing
Slightly volatile
Assets Non Current2.5 B2.3 B879.6 M
Increasing
Slightly volatile
Current Liabilities2.5 B2.3 B1.1 B
Increasing
Slightly volatile
Liabilities Non CurrentB2.8 B871.9 M
Increasing
Slightly volatile
Tax Liabilities85.4 M79.5 M69.5 M
Increasing
Slightly volatile
Total Debt884.4 M889.6 M972.8 M
Decreasing
Slightly volatile
Debt Non Current884.4 M889.6 M972.8 M
Decreasing
Slightly volatile
Shareholders Equity USD848.5 M781.7 M731.6 M
Increasing
Slightly volatile
Cash and Equivalents USD1.1 B1.3 B656 M
Increasing
Slightly volatile
Total Debt USD884.4 M889.6 M972.8 M
Decreasing
Slightly volatile
Accounts Payable160.1 M148.4 M73.8 M
Increasing
Slightly volatile
Receivables871.5 M807.7 M376.9 M
Increasing
Slightly volatile
Inventories189.7 M175.8 M88.5 M
Increasing
Slightly volatile

Fortinet Income Statement

Current ValueLast YearHistorical Average 10 Year Trend
Revenues3.6 B3.3 B1.5 B
Increasing
Slightly volatile
Cost of Revenue622.2 M783 M363.7 M
Increasing
Slightly volatile
Selling General and Administrative Expense1.2 B1.5 B689.6 M
Increasing
Slightly volatile
Research and Development Expense339.5 M424.2 M200.9 M
Increasing
Slightly volatile
Operating Expenses1.5 B1.9 B887.7 M
Increasing
Slightly volatile
Interest Expense13.3 M13.4 M14.7 M
Decreasing
Slightly volatile
Income Tax Expense18.5 M14.1 M25.9 M
Decreasing
Very volatile
Consolidated Income654.6 M606.7 M211.5 M
Increasing
Slightly volatile
Net Income654.7 M606.8 M211.5 M
Increasing
Slightly volatile
Net Income Common Stock654.7 M606.8 M211.5 M
Increasing
Slightly volatile
Weighted Average Shares908.9 M816 M829.3 M
Increasing
Slightly volatile
Weighted Average Shares Diluted935 M835.5 M858.8 M
Increasing
Slightly volatile
Earning Before Interest and Taxes EBIT686 M635.8 M239.6 M
Increasing
Slightly volatile
Revenues USD3.6 B3.3 B1.5 B
Increasing
Slightly volatile
Net Income Common Stock USD654.7 M606.8 M211.5 M
Increasing
Slightly volatile
Earning Before Interest and Taxes USD686 M635.8 M239.6 M
Increasing
Slightly volatile
Gross Profit2.8 B2.6 B1.2 B
Increasing
Slightly volatile
Operating Income701.7 M650.4 M234.4 M
Increasing
Slightly volatile
Direct Expenses844.8 M783 M378.6 M
Increasing
Slightly volatile

Fortinet Cash Flow Statement

Current ValueLast YearHistorical Average 10 Year Trend
Net Cash Flow Investment Acquisitions and Disposals(979.8 M)(954.7 M)(210.2 M)
Decreasing
Slightly volatile
Net Cash Flow from Financing89.3 M82.8 M(139.7 M)
Decreasing
Slightly volatile
Issuance Repayment of Debt Securities B967.5 M151.7 M
Increasing
Slightly volatile
Issuance Purchase of Equity Shares(734.6 M)(715.8 M)(236.7 M)
Decreasing
Slightly volatile
Net Cash Flow from Operations1.6 B1.5 B589.6 M
Increasing
Slightly volatile
Net Cash Flow or Change in Cash and Cash Equivalents277.6 M257.3 M118.1 M
Increasing
Slightly volatile
Share Based Compensation173.1 M207.9 M106.3 M
Increasing
Slightly volatile
Depreciation Amortization and Accretion68.8 M84.4 M41.4 M
Increasing
Slightly volatile

Financial Ratios

Current ValueLast YearHistorical Average 10 Year Trend
Earnings per Basic Share0.80.7440.2571
Increasing
Slightly volatile
Earnings per Diluted Share0.780.7260.25
Increasing
Slightly volatile
Earnings per Basic Share USD0.80.7440.2571
Increasing
Slightly volatile
Return on Average Equity0.670.6170.2664
Increasing
Slightly volatile
Return on Average Assets0.09470.1070.0707
Increasing
Slightly volatile
Return on Invested Capital0.270.2370.2565
Increasing
Slightly volatile
Gross Margin0.830.7660.7454
Increasing
Slightly volatile
Profit Margin0.150.1820.1104
Increasing
Slightly volatile
EBITDA Margin0.210.2150.1698
Increasing
Very volatile
Return on Sales0.170.190.1423
Increasing
Very volatile
Asset Turnover0.670.5880.6347
Increasing
Stable
Enterprise Value over EBITDA70.1980.41648.6823
Increasing
Slightly volatile
Enterprise Value over EBIT92.5891.075.1984
Increasing
Stable
Price to Earnings Ratio11496.613139
Decreasing
Very volatile
Sales per Share4.424.0961.8635
Increasing
Slightly volatile
Price to Sales Ratio18.9417.558.3466
Increasing
Slightly volatile
Price to Book Value81.1175.17221.0992
Increasing
Slightly volatile
Debt to Equity Ratio7.076.5512.4731
Increasing
Slightly volatile
Current Ratio1.571.5531.7848
Decreasing
Slightly volatile
Free Cash Flow per Share1.591.4750.6008
Increasing
Slightly volatile
Book Value per Share1.030.9580.8817
Increasing
Slightly volatile
Tangible Assets Book Value per Share7.587.0233.1343
Increasing
Slightly volatile
Total Assets Per Share7.887.30753.7195
Increasing
Slightly volatile
Cash Flow Per Share2.01.85150.8086
Increasing
Slightly volatile
Return on Investment53.0649.183225.6875
Increasing
Slightly volatile
Operating Margin17.6519.322613.2837
Increasing
Very volatile
Calculated Tax Rate2.32.243826.5203
Decreasing
Slightly volatile
Receivables Turnover5.034.37554.73
Decreasing
Slightly volatile
Inventory Turnover5.644.9625.2631
Decreasing
Slightly volatile
PPandE Turnover6.045.886218.3407
Decreasing
Slightly volatile
Cash and Equivalents Turnover3.332.80753.2
Decreasing
Slightly volatile
Accounts Payable Turnover25.3823.049723.0823
Decreasing
Stable
Accrued Expenses Turnover11.589.724211.1952
Decreasing
Very volatile
Interest Coverage55.5655.8961.1162
Decreasing
Slightly volatile
Long Term Debt to Equity1.131.141.2446
Decreasing
Slightly volatile
Quick Ratio1.721.44921.6533
Decreasing
Slightly volatile
Net Current Assets as percentage of Total Assets29.2221.667130.6629
Decreasing
Slightly volatile
Revenue to Assets0.540.56460.5775
Increasing
Very volatile

Fortinet Valuation Data

Current ValueLast YearHistorical Average 10 Year Trend
Earnings before Tax669.9 M620.9 M237.2 M
Increasing
Slightly volatile
Earnings Before Interest Taxes and Depreciation Amortization EBITDA777.1 M720.2 M282.7 M
Increasing
Slightly volatile
Earnings Before Interest Taxes and Depreciation Amortization USD777.1 M720.2 M282.7 M
Increasing
Slightly volatile
Market Capitalization63.4 B58.8 B16.4 B
Increasing
Slightly volatile
Enterprise Value62.5 B57.9 B15.8 B
Increasing
Slightly volatile
Invested Capital3.3 B3.1 BB
Increasing
Slightly volatile
Average Equity939.8 M982.7 M713.4 M
Increasing
Slightly volatile
Average Assets6.1 B5.7 B2.5 B
Increasing
Slightly volatile
Invested Capital Average2.9 B2.7 B922.4 M
Increasing
Slightly volatile
Tangible Asset Value6.2 B5.7 B2.6 B
Increasing
Slightly volatile
Free Cash Flow1.3 B1.2 B497.2 M
Increasing
Slightly volatile
Working Capital1.1 B1.3 B703.2 M
Increasing
Slightly volatile
Revenue Per Employee291.8 K327.8 K283.9 K
Increasing
Slightly volatile
Net Income Per Employee64.2 K59.5 K33.3 K
Increasing
Slightly volatile

Fortinet Fundamental Market Drivers

Forward Price Earnings9.36
Short Percent Of Float1.41%
Average Daily Volume Last 10 Day5.81M
Shares Short Prior Month2.13M
Average Daily Volume In Three Month6.51M
Date Short Interest29th of April 2022
Fifty Day Average57.91
Two Hundred Day Average62.37

Fortinet Upcoming Events

Upcoming Quarterly Report3rd of February 2022
Next Financial Report5th of May 2022
Next Fiscal Quarter End31st of December 2021
Next Fiscal Year End3rd of February 2022
Last Quarter Report30th of September 2021
Last Financial Announcement31st of December 2020

About Fortinet Financial Statements

There are typically three primary documents that fall into the category of financial statements. These documents include Fortinet income statement, its balance sheet, and the statement of cash flows. Fortinet investors use historical funamental indicators, such as Fortinet's revenue or net income, to determine how well the company is positioned to perform in the future. Although Fortinet investors may use each financial statement separately, they are all related. The changes in Fortinet's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Fortinet's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. We offer a historical overview of the basic patterns found on Fortinet Financial Statements. Understanding these patterns can help to make the right decision on long term investment in Fortinet. Please read more on our technical analysis and fundamental analysis pages.
Last ReportedProjected for 2022
Deferred Revenue3.5 B3.7 B
Cost of Revenue783 M622.2 M
Revenues3.3 B3.6 B
Revenue to Assets 0.56  0.54 
Revenue Per Employee327.8 K291.8 K
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 10195 people.

Fortinet Investors Sentiment

The influence of Fortinet's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Fortinet. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Fortinet Implied Volatility

    
  35.86  
Fortinet's implied volatility exposes the market's sentiment of Fortinet stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Fortinet's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Fortinet stock will not fluctuate a lot when Fortinet's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Fortinet in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Fortinet's short interest history, or implied volatility extrapolated from Fortinet options trading.

Current Sentiment - FTNT

Fortinet Investor Sentiment

Most of Macroaxis users are currently bullish on Fortinet. What is your opinion about investing in Fortinet? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish

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Please check the analysis of Fortinet Correlation against competitors. Note that the Fortinet information on this page should be used as a complementary analysis to other Fortinet's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.

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When running Fortinet 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 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.
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Is Fortinet's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Fortinet. If investors know Fortinet will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Fortinet listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.31
Market Capitalization
45.9 B
Quarterly Revenue Growth YOY
0.34
Return On Assets
0.0772
Return On Equity
1.05
The market value of Fortinet is measured differently than its book value, which is the value of Fortinet that is recorded on the company's balance sheet. Investors also form their own opinion of Fortinet's value that differs from its market value or its book value, called intrinsic value, which is Fortinet's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fortinet's market value can be influenced by many factors that don't directly affect Fortinet's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fortinet's value and its price as these two are different measures arrived at by different means. Investors typically determine Fortinet value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fortinet's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.