FTNT: Fortinet Inc Financial Statements
Balance sheet, income statement, and cash flow statements for Fortinet Inc (FTNT).
$72.41B Market Cap.
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 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%) |
