FTNT Financial Statements

Balance sheet, income statement, cash flow, and dividends for Fortinet Inc (FTNT).


$72.41B Market Cap.

As of 02/24/2025 5:00 PM ET (MRY) • Disclaimer

FTNT Market Cap. (MRY)


FTNT Shares Outstanding (MRY)


FTNT Assets (MRY)


Total Assets

$9.76B

Total Liabilities

$8.27B

Total Investments

$1.19B

FTNT Income (MRY)


Revenue

$5.96B

Net Income

$1.75B

Operating Expense

$2.99B

FTNT Cash Flow (MRY)


CF Operations

$2.26B

CF Investing

-$727.40M

CF Financing

-$50.10M

FTNT Dividends (MRY)


Period

Dividends

Yield %

Growth %

Payout Ratio

Coverage Ratio

2024

$0

0%

0%

0%

-

2023

$0

0%

0%

0%

-

2022

$0

0%

0%

0%

-

2021

$0

0%

0%

0%

-

2020

$0

0%

-

0%

-

FTNT Balance Sheet (MRY)


Metric

2024

2023

2022

2021

Total Assets

$9,763,100,000 (34.50%)

$7,258,900,000 (16.55%)

$6,228,000,000 (5.22%)

$5,919,100,000 (46.35%)

Assets Current

$5,971,500,000 (34.85%)

$4,428,300,000 (16.22%)

$3,810,400,000 (5.83%)

$3,600,600,000 (31.39%)

Assets Non-Current

$3,791,600,000 (33.95%)

$2,830,600,000 (17.08%)

$2,417,600,000 (4.27%)

$2,318,500,000 (77.79%)

Goodwill & Intangible Assets

$350,400,000 (116.56%)

$161,800,000 (-12.07%)

$184,000,000 (-2.49%)

$188,700,000 (51.44%)

Shareholders Equity

$1,493,800,000 (422.36%)

-$463,400,000 (-64.56%)

-$281,600,000 (-136.02%)

$781,700,000 (-8.68%)

Property Plant & Equipment Net

$1,349,500,000 (29.21%)

$1,044,400,000 (16.24%)

$898,500,000 (30.67%)

$687,600,000 (53.48%)

Cash & Equivalents

$2,875,900,000 (105.73%)

$1,397,900,000 (-16.94%)

$1,682,900,000 (27.58%)

$1,319,100,000 (24.23%)

Accumulated Other Comprehensive Income

-$26,100,000 (-38.10%)

-$18,900,000 (6.44%)

-$20,200,000 (-320.83%)

-$4,800,000 (-785.71%)

Deferred Revenue

$6,360,900,000 (10.91%)

$5,735,000,000 (23.59%)

$4,640,300,000 (34.39%)

$3,452,900,000 (32.53%)

Total Investments

$1,190,600,000 (14.21%)

$1,042,500,000 (81.75%)

$573,600,000 (-65.72%)

$1,673,400,000 (87.22%)

Investments Current

$1,190,600,000 (14.21%)

$1,042,500,000 (97.41%)

$528,100,000 (-57.16%)

$1,232,600,000 (58.94%)

Investments Non-Current

$0 (0%)

$0 (0%)

$45,500,000 (-89.68%)

$440,800,000 (272.61%)

Inventory

$315,500,000 (-34.92%)

$484,800,000 (83.22%)

$264,600,000 (50.51%)

$175,800,000 (25.75%)

Trade & Non-Trade Receivables

$1,463,400,000 (4.38%)

$1,402,000,000 (11.12%)

$1,261,700,000 (56.21%)

$807,700,000 (12.18%)

Trade & Non-Trade Payables

$190,900,000 (-6.56%)

$204,300,000 (-16.06%)

$243,400,000 (64.02%)

$148,400,000 (4.80%)

Accumulated Retained Earnings (Deficit)

-$117,100,000 (93.71%)

-$1,861,700,000 (-20.39%)

-$1,546,400,000 (-230.50%)

-$467,900,000 (-32.89%)

Tax Assets

$1,335,600,000 (53.73%)

$868,800,000 (52.58%)

$569,400,000 (66.35%)

$342,300,000 (39.60%)

Tax Liabilities

$0 (0%)

$0 (0%)

$85,400,000 (7.42%)

$79,500,000 (-11.96%)

Total Debt

$994,300,000 (0.20%)

$992,300,000 (0.19%)

$990,400,000 (0.20%)

$988,400,000 (0%)

Debt Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Debt Non-Current

$994,300,000 (0.20%)

$992,300,000 (0.19%)

$990,400,000 (0.20%)

$988,400,000 (0%)

Total Liabilities

$8,269,300,000 (7.08%)

$7,722,300,000 (18.63%)

$6,509,600,000 (27.12%)

$5,120,700,000 (60.60%)

Liabilities Current

$4,060,700,000 (9.19%)

$3,719,000,000 (20.81%)

$3,078,400,000 (32.80%)

$2,318,100,000 (26.71%)

Liabilities Non-Current

$4,208,600,000 (5.13%)

$4,003,300,000 (16.67%)

$3,431,200,000 (22.43%)

$2,802,600,000 (106.23%)

FTNT Income Statement (MRY)


Metric

2024

2023

2022

2021

Revenues

$5,955,800,000 (12.27%)

$5,304,800,000 (20.09%)

$4,417,400,000 (32.17%)

$3,342,200,000 (28.82%)

Cost of Revenue

$1,157,600,000 (-6.43%)

$1,237,200,000 (14.04%)

$1,084,900,000 (38.56%)

$783,000,000 (37.37%)

Selling General & Administrative Expense

$2,282,600,000 (2.95%)

$2,217,300,000 (19.52%)

$1,855,100,000 (24.57%)

$1,489,200,000 (25.00%)

Research & Development Expense

$716,800,000 (16.78%)

$613,800,000 (19.79%)

$512,400,000 (20.79%)

$424,200,000 (24.25%)

Operating Expenses

$2,994,800,000 (5.95%)

$2,826,500,000 (19.62%)

$2,362,900,000 (23.79%)

$1,908,800,000 (27.88%)

Interest Expense

$20,000,000 (-4.76%)

$21,000,000 (16.67%)

$18,000,000 (20.81%)

$14,900,000 (0%)

Income Tax Expense

$283,900,000 (97.43%)

$143,800,000 (366.88%)

$30,800,000 (118.44%)

$14,100,000 (-73.50%)

Net Loss Income from Discontinued Operations

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Consolidated Income

$1,745,200,000 (52.05%)

$1,147,800,000 (33.99%)

$856,600,000 (41.19%)

$606,700,000 (24.20%)

Net Income to Non-Controlling Interests

$0 (0%)

$0 (0%)

-$700,000 (-600.00%)

-$100,000 (0%)

Net Income

$1,745,200,000 (52.05%)

$1,147,800,000 (33.89%)

$857,300,000 (41.28%)

$606,800,000 (24.22%)

Preferred Dividends Income Statement Impact

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income Common Stock

$1,745,200,000 (52.05%)

$1,147,800,000 (33.89%)

$857,300,000 (41.28%)

$606,800,000 (24.22%)

Weighted Average Shares

$764,400,000 (-1.82%)

$778,600,000 (-1.62%)

$791,400,000 (-3.03%)

$816,100,000 (-0.60%)

Weighted Average Shares Diluted

$771,900,000 (-2.07%)

$788,200,000 (-2.12%)

$805,300,000 (-3.59%)

$835,300,000 (-0.36%)

Earning Before Interest & Taxes (EBIT)

$2,049,100,000 (56.11%)

$1,312,600,000 (44.86%)

$906,100,000 (42.51%)

$635,800,000 (17.37%)

Gross Profit

$4,798,200,000 (17.96%)

$4,067,600,000 (22.06%)

$3,332,500,000 (30.22%)

$2,559,200,000 (26.42%)

Operating Income

$1,803,400,000 (45.31%)

$1,241,100,000 (28.00%)

$969,600,000 (49.08%)

$650,400,000 (22.30%)

FTNT Cash Flow Statement (MRY)


Metric

2024

2023

2022

2021

Net Cash Flow from Investing

-$727,400,000 (-12.03%)

-$649,300,000 (-185.00%)

$763,900,000 (157.65%)

-$1,325,100,000 (-1720.19%)

Net Cash Flow from Financing

-$50,100,000 (96.81%)

-$1,570,400,000 (26.28%)

-$2,130,300,000 (-2672.83%)

$82,800,000 (107.07%)

Net Cash Flow from Operations

$2,258,100,000 (16.67%)

$1,935,500,000 (11.84%)

$1,730,600,000 (15.40%)

$1,499,700,000 (38.39%)

Net Cash Flow / Change in Cash & Cash Equivalents

$1,478,000,000 (618.60%)

-$285,000,000 (-178.34%)

$363,800,000 (41.39%)

$257,300,000 (260.11%)

Net Cash Flow - Business Acquisitions and Disposals

-$275,500,000 (0%)

$0 (0%)

-$30,800,000 (58.88%)

-$74,900,000 (-86.32%)

Net Cash Flow - Investment Acquisitions and Disposals

-$73,100,000 (83.59%)

-$445,500,000 (-141.41%)

$1,075,900,000 (212.70%)

-$954,700,000 (-1137.72%)

Capital Expenditure

-$378,900,000 (-85.64%)

-$204,100,000 (27.42%)

-$281,200,000 (4.97%)

-$295,900,000 (-135.03%)

Issuance (Repayment) of Debt Securities

$0 (0%)

$0 (0%)

$0 (0%)

$967,500,000 (23697.56%)

Issuance (Purchase) of Equity Shares

$62,500,000 (104.29%)

-$1,456,700,000 (25.87%)

-$1,965,100,000 (-174.53%)

-$715,800,000 (32.34%)

Payment of Dividends & Other Cash Distributions

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Effect of Exchange Rate Changes on Cash

-$2,600,000 (-225.00%)

-$800,000 (-100.00%)

-$400,000 (-300.00%)

-$100,000 (0%)

Share Based Compensation

$257,900,000 (3.57%)

$249,000,000 (14.59%)

$217,300,000 (4.52%)

$207,900,000 (8.45%)

Depreciation Amortization & Accretion

$122,800,000 (8.29%)

$113,400,000 (8.72%)

$104,300,000 (23.58%)

$84,400,000 (22.67%)

FTNT Financial Metrics (MRY)


Metric

2024

2023

2022

2021

Gross Margin

80.60% (5.08%)

76.70% (1.72%)

75.40% (-1.57%)

76.60% (-1.79%)

Profit Margin

29.30% (35.65%)

21.60% (11.34%)

19.40% (6.59%)

18.20% (-3.19%)

EBITDA Margin

36.50% (35.69%)

26.90% (17.47%)

22.90% (6.51%)

21.50% (-8.51%)

Return on Average Equity (ROAE)

273.50% (103.38%)

-8097.40% (-2477.15%)

-314.20% (-609.24%)

61.70% (-16.40%)

Return on Average Assets (ROAA)

20.30% (28.48%)

15.80% (3.95%)

15.20% (42.06%)

10.70% (-22.46%)

Return on Sales (ROS)

34.40% (39.27%)

24.70% (20.49%)

20.50% (7.89%)

19.00% (-9.09%)

Return on Invested Capital (ROIC)

66.40% (25.76%)

52.80% (53.04%)

34.50% (45.57%)

23.70% (-60.10%)

Dividend Yield

0% (0%)

0% (0%)

0% (0%)

0% (0%)

Price to Earnings Ratio (P/E)

41.44 (4.08%)

39.82 (-12.05%)

45.27 (-53.40%)

97.14 (96.19%)

Price to Sales Ratio (P/S)

12.13 (41.15%)

8.59 (-1.92%)

8.76 (-50.10%)

17.55 (86.72%)

Price to Book Ratio (P/B)

48.48 (149.98%)

-96.99 (28.49%)

-135.63 (-280.43%)

75.17 (166.88%)

Debt to Equity Ratio (D/E)

5.54 (133.22%)

-16.66 (27.91%)

-23.12 (-452.86%)

6.55 (75.87%)

Earnings Per Share (EPS)

2.28 (55.10%)

1.47 (36.11%)

1.08 (45.95%)

0.74 (23.33%)

Sales Per Share (SPS)

7.79 (14.35%)

6.81 (22.05%)

5.58 (36.31%)

4.09 (29.59%)

Free Cash Flow Per Share (FCFPS)

2.46 (10.52%)

2.22 (21.46%)

1.83 (24.14%)

1.48 (26.39%)

Book Value Per Share (BVPS)

1.95 (428.40%)

-0.59 (-67.13%)

-0.36 (-137.16%)

0.96 (-8.15%)

Tangible Assets Book Value Per Share (TABVPS)

12.31 (35.10%)

9.12 (19.35%)

7.64 (8.76%)

7.02 (47.06%)

Enterprise Value Over EBIT (EV/EBIT)

35 (6.06%)

33 (-21.43%)

42 (-53.85%)

91 (111.63%)

Enterprise Value Over EBITDA (EV/EBITDA)

32.65 (6.43%)

30.68 (-18.89%)

37.83 (-52.96%)

80.42 (111.35%)

Asset Turnover

0.69 (-4.93%)

0.73 (-7.01%)

0.79 (33.50%)

0.59 (-19.67%)

Current Ratio

1.47 (23.51%)

1.19 (-3.80%)

1.24 (-20.28%)

1.55 (3.67%)

Dividends

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Free Cash Flow (FCF)

$1,879,200,000 (8.54%)

$1,731,400,000 (19.46%)

$1,449,400,000 (20.40%)

$1,203,800,000 (25.68%)

Enterprise Value (EV)

$70,918,950,907 (62.10%)

$43,750,749,064 (14.47%)

$38,220,528,578 (-34.01%)

$57,915,324,526 (149.32%)

Earnings Before Tax (EBT)

$2,029,100,000 (57.10%)

$1,291,600,000 (45.43%)

$888,100,000 (43.03%)

$620,900,000 (14.62%)

Earnings Before Interest Taxes & Depreciation Amortization (EBITDA)

$2,171,900,000 (52.31%)

$1,426,000,000 (41.13%)

$1,010,400,000 (40.29%)

$720,200,000 (17.97%)

Invested Capital

$3,470,400,000 (16.75%)

$2,972,500,000 (30.77%)

$2,273,100,000 (-26.24%)

$3,081,600,000 (199.59%)

Working Capital

$1,910,800,000 (169.39%)

$709,300,000 (-3.10%)

$732,000,000 (-42.92%)

$1,282,500,000 (40.79%)

Tangible Asset Value

$9,412,700,000 (32.63%)

$7,097,100,000 (17.42%)

$6,044,000,000 (5.47%)

$5,730,400,000 (46.19%)

Market Capitalization

$72,414,450,907 (61.12%)

$44,945,749,064 (17.68%)

$38,194,628,578 (-35.00%)

$58,761,824,526 (143.71%)

Average Equity

$638,150,000 (4601.94%)

-$14,175,000 (94.81%)

-$272,875,000 (-127.77%)

$982,700,000 (48.37%)

Average Assets

$8,582,525,000 (18.15%)

$7,264,150,000 (29.09%)

$5,627,375,000 (-0.97%)

$5,682,700,000 (60.44%)

Invested Capital Average

$3,085,825,000 (24.04%)

$2,487,750,000 (-5.19%)

$2,623,925,000 (-2.34%)

$2,686,900,000 (194.62%)

Shares

766,452,698 (-0.19%)

767,909,603 (-1.71%)

781,236,011 (-4.44%)

817,498,950 (0.72%)