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FTNT - Fortinet, Inc.

NASDAQ -> Technology -> Software—Infrastructure
Sunnyvale, United States
Type: Equity

FTNT price evolution
FTNT
(in millions $) 31 Jan 2024 30 Sep 2023 30 Jun 2023 1 May 2023
Current assets
Cash $1397.9 $2186.8 $2376.3 $2304.2
Short term investments $1042.5 $982 $937.2 $574.9
Net receivables $1402 $1013.8 $1078.8 $1087.2
Inventory $484.8 $467.5 $376.3 $302.7
Total current assets $4428.3 $4752.7 $4878.1 $4358.7
Long term investments $1.5 $4.2 $15.6
Property, plant & equipment $1044.4 $1038 $981.9 $917.4
Goodwill & intangible assets $161.8 $165 $170.6 $178.9
Total noncurrent assets $2830.6 $2726.6 $2608 $2473.6
Total investments $1042.5 $983.5 $941.4 $590.5
Total assets $7258.9 $7479.3 $7486.1 $6832.3
Current liabilities
Accounts payable $204.3 $253.9 $238.3 $238.4
Deferred revenue $5735 $5285.3 $5128.6 $4880.9
Short long term debt
Total current liabilities $3719 $3649 $3500.6 $3261.8
Long term debt $992.3 $991.8 $991.3 $990.9
Total noncurrent liabilities $4003.3 $3756.2 $3664.3 $3559.1
Total debt $992.3 $991.8 $991.3 $990.9
Total liabilities $7722.3 $7405.2 $7164.9 $6820.9
Shareholders' equity
Retained earnings -$1861.7 -$1299.4 -$1032.4 -$1298.7
Other shareholder equity -$18.9 -$24.3 -$23.1 -$18.1
Total shareholder equity -$463.4 $74.1 $321.2 $11.4
(in millions $) 31 Jan 2024 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $1397.9 $1682.9 $1319.1 $1061.8
Short term investments $1042.5 $528.1 $1232.6 $775.5
Net receivables $1402 $1261.7 $807.7 $720
Inventory $484.8 $264.6 $175.8 $139.8
Total current assets $4428.3 $3810.4 $3600.6 $2740.4
Long term investments $45.5 $440.8 $118.3
Property, plant & equipment $1044.4 $898.5 $687.6 $448
Goodwill & intangible assets $161.8 $184 $188.7 $124.6
Total noncurrent assets $2830.6 $2417.6 $2318.5 $1304.1
Total investments $1042.5 $573.6 $1673.4 $893.8
Total assets $7258.9 $6228 $5919.1 $4044.5
Current liabilities
Accounts payable $204.3 $243.4 $148.4 $141.6
Deferred revenue $5735 $4640.3 $3452.9 $2605.3
Short long term debt
Total current liabilities $3719 $3078.4 $2318.1 $1829.5
Long term debt $992.3 $990.4 $988.4
Total noncurrent liabilities $4003.3 $3431.2 $2802.6 $1359
Total debt $992.3 $990.4 $988.4
Total liabilities $7722.3 $6509.6 $5120.7 $3188.5
Shareholders' equity
Retained earnings -$1861.7 -$1546.4 -$467.9 -$352.1
Other shareholder equity -$18.9 -$20.2 -$4.8 $0.7
Total shareholder equity -$463.4 -$281.6 $781.7 $856
(in millions $) 31 Jan 2024 30 Sep 2023 30 Jun 2023 1 May 2023
Revenue
Total revenue $1334.6 $1292.8
Cost of revenue $317.7 $295.8
Gross Profit $1016.9 $997
Operating activities
Research & development $156.9 $153.3
Selling, general & administrative $557.9 $565.8
Total operating expenses $713.7 $718
Operating income $303.2 $279
Income from continuing operations
EBIT $328 $299.1
Income tax expense -$0.3 $27.6
Interest expense $5.4 $5.2
Net income
Net income $322.9 $266.3
Income (for common shares) $322.9 $266.3
(in millions $) 31 Jan 2024 31 Dec 2022 31 Jan 2022 31 Dec 2020
Revenue
Total revenue $113.4 $4417.4 $2594.4
Cost of revenue $1084.9 $570
Gross Profit $4067.6 $3332.5 $2024.4
Operating activities
Research & development $512.4 $341.4
Selling, general & administrative $1855.1 $1191.4
Total operating expenses -$649.3 $2362.9 $1492.6
Operating income $969.6 $531.8
Income from continuing operations
EBIT $906.1 $541.7
Income tax expense $143.8 $30.8 $53.2
Interest expense $1935.5 $18
Net income
Net income $1147.8 $857.3 $488.5
Income (for common shares) $857.3 $488.5
(in millions $) 31 Jan 2024 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $322.9 $266.3 $247.7
Operating activities
Depreciation $28.3 $27.4 $27.5
Business acquisitions & disposals
Stock-based compensation $64.3 $65 $56.3
Total cash flows from operations $551.2 $515.1 $677.5
Investing activities
Capital expenditures -$70.1 -$76.8 -$30.3
Investments -$41.1 -$347.3 -$12.2
Total cash flows from investing -$649.3 -$111.2 -$424.1 -$42.4
Financing activities
Dividends paid
Sale and purchase of stock -$597.6 $8.1 $21.2
Net borrowings
Total cash flows from financing -$1570.4 -$628.9 -$17.7 -$13.7
Effect of exchange rate -$0.8 -$0.6 -$1.2 -$0.1
Change in cash and equivalents -$285 -$189.5 $72.1 $621.3
(in millions $) 31 Jan 2024 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $857.3 $606.8 $488.5
Operating activities
Depreciation $104.3 $84.4 $68.8
Business acquisitions & disposals -$30.8 -$74.9 -$40.2
Stock-based compensation $217.3 $207.9 $191.7
Total cash flows from operations $1730.6 $1499.7 $1083.7
Investing activities
Capital expenditures -$281.2 -$295.9 -$125.9
Investments $1075.9 -$954.7 $92
Total cash flows from investing -$649.3 $763.9 -$1325.1 -$72.8
Financing activities
Dividends paid
Sale and purchase of stock -$1965.1 -$715.8 -$1058
Net borrowings $967.5 -$4.1
Total cash flows from financing -$1570.4 -$2130.3 $82.8 -$1171.6
Effect of exchange rate -$0.8 -$0.4 -$0.1
Change in cash and equivalents -$285 $363.8 $257.3 -$160.7
Fundamentals
Market cap $51.66B
Enterprise value $51.25B
Shares outstanding 767.91M
Revenue N/A
EBITDA N/A
EBIT N/A
Net Income N/A
Revenue Q/Q N/A
Revenue Y/Y N/A
P/E ratio N/A
EV/Sales N/A
EV/EBITDA N/A
EV/EBIT N/A
P/S ratio N/A
P/B ratio -116.21
Book/Share -0.58
Cash/Share 1.82
EPS N/A
ROA N/A
ROE N/A
Debt/Equity -16.66
Net debt/EBITDA N/A
Current ratio 1.19
Quick ratio 1.06