Fortinet, Inc. (FTNT) quarterly balance sheet — complete assets, liabilities & equity history
Fortinet, Inc. (FTNT) balance sheet — 19-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 6.21B | 5.33B | 5.9B | 4.91B | 6.35B | 6.44B | 5.97B | 5.22B | 4.92B | 4.56B | 4.43B | 4.75B | 4.88B | 4.36B | 3.81B | 2.98B | 2.95B | 3.21B | 3.6B | 3.96B |
| Cash & Short-Term Investments | 4.07B | 3.29B | 3.58B | 3.12B | 4.56B | 4.78B | 4.07B | 3.7B | 3.34B | 3.02B | 2.44B | 3.17B | 3.31B | 2.88B | 2.21B | 1.73B | 1.75B | 2.14B | 2.55B | 3.12B |
| Cash Only | 2.93B | 2.22B | 2.5B | 2B | 3.37B | 3.6B | 2.88B | 2.49B | 2.2B | 1.93B | 1.4B | 2.19B | 2.38B | 2.3B | 1.68B | 964M | 710M | 923.5M | 1.32B | 1.85B |
| Short-Term Investments | 1.13B | 1.07B | 1.09B | 1.13B | 1.19B | 1.18B | 1.19B | 1.21B | 1.14B | 1.1B | 1.04B | 982M | 937.2M | 574.9M | 528.1M | 766.4M | 1.04B | 1.22B | 1.23B | 1.27B |
| Accounts Receivable | 1.46B | 1.49B | 1.69B | 1.17B | 1.22B | 1.17B | 1.46B | 1.04B | 1.08B | 996.2M | 1.4B | 1.01B | 1.08B | 1.09B | 1.26B | 963.2M | 919.5M | 790.4M | 807.7M | 604.9M |
| Days Sales Outstanding | 65.36 | 77.3 | 69.05 | 63.58 | 66.71 | 77.08 | 69.48 | 64.89 | 65.97 | 80.63 | 78.53 | 72.13 | 76.23 | 83.74 | 79.77 | 75.34 | 75.53 | 75.32 | 67.43 | 63.1 |
| Inventory | 426.3M | 369.6M | 399.5M | 426.6M | 405.2M | 362.7M | 315.5M | 354.3M | 383.2M | 439.5M | 484.8M | 467.5M | 376.3M | 302.7M | 264.6M | 215.8M | 195.2M | 184.6M | 175.8M | 177.9M |
| Days Inventory Outstanding | 89.48 | 94.95 | 97.64 | 120.1 | 115.81 | 104.12 | 97.97 | 128.8 | 136.12 | 138.02 | 138.67 | 122.17 | 104.44 | 82.94 | 74.33 | 66.81 | 68.9 | 63.9 | 71.27 | 71.37 |
| Other Current Assets | 256.8M | 181.9M | 227M | 195.2M | 162.5M | 125.4M | 126.1M | 121.5M | 113.4M | 100.9M | 101.1M | 102.6M | 109.5M | 89.7M | 73.1M | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 4.65B | 4.55B | 4.49B | 4.45B | 4.3B | 3.96B | 3.79B | 3.63B | 3.13B | 3.1B | 2.83B | 2.73B | 2.61B | 2.47B | 2.42B | 2.35B | 2.34B | 2.44B | 2.32B | 2.01B |
| Property, Plant & Equipment | 1.7B | 1.69B | 1.62B | 1.61B | 1.54B | 1.4B | 1.35B | 1.27B | 1.24B | 1.25B | 1.04B | 1.04B | 981.9M | 917.4M | 898.5M | 889.5M | 814.6M | 786.5M | 687.6M | 556.6M |
| Fixed Asset Turnover | 1.21x | 1.12x | 1.18x | 1.10x | 1.11x | 1.12x | 1.27x | 1.20x | 1.15x | 1.18x | 1.36x | 1.32x | 1.36x | 1.39x | 1.44x | 1.35x | 1.29x | 1.30x | 1.55x | 1.63x |
| Goodwill | 0 | 344.4M | 257.4M | 258.3M | 258.9M | 236.2M | 235.4M | 212.8M | 127.9M | 129M | 126.5M | 125.4M | 126M | 127.8M | 128M | 120.2M | 121.3M | 123.8M | 125.1M | 127.6M |
| Intangible Assets | 334.5M | 0 | 97.3M | 110.2M | 123.3M | 121.2M | 115M | 111.6M | 30.2M | 34.1M | 35.3M | 39.6M | 44.6M | 51.1M | 56M | 38.8M | 45.4M | 55.1M | 63.6M | 71M |
| Long-Term Investments | 399.1M | 339.7M | 339.7M | 289.1M | 112M | 35.2M | 0 | 0 | 0 | 35.8M | 0 | 1.5M | 4.2M | 15.6M | 45.5M | 84M | 188.5M | 360.8M | 440.8M | 298.2M |
| Other Non-Current Assets | 898.4M | 870.8M | 860.7M | 817.2M | 798.9M | 756.4M | 756.1M | 733.2M | 734.3M | 713.6M | 755.6M | 733.6M | 722.1M | 712.1M | 720.2M | 705.7M | 691.6M | 684.9M | 659.1M | 616.4M |
| Total Assets | 10.86B | 9.88B | 10.39B | 9.36B | 10.64B | 10.41B | 9.76B | 8.85B | 8.05B | 7.66B | 7.26B | 7.48B | 7.49B | 6.83B | 6.23B | 5.34B | 5.29B | 5.65B | 5.92B | 5.97B |
| Asset Turnover | 0.20x | 0.18x | 0.19x | 0.17x | 0.15x | 0.15x | 0.18x | 0.18x | 0.18x | 0.18x | 0.19x | 0.18x | 0.18x | 0.19x | 0.22x | 0.22x | 0.19x | 0.17x | 0.16x | 0.15x |
| Asset Growth % | 2.05% | -5.03% | 6.41% | 5.75% | 32.14% | 35.82% | 34.5% | 18.35% | 7.57% | 12.15% | 16.55% | 40.17% | 41.39% | 20.9% | 5.22% | -10.63% | -4.76% | 6.98% | 46.35% | 66.49% |
| Total Current Liabilities | 4.84B | 4.62B | 5.03B | 4.79B | 4.78B | 4.73B | 4.06B | 3.88B | 3.73B | 3.8B | 3.72B | 3.65B | 3.5B | 3.26B | 3.08B | 2.78B | 2.63B | 2.51B | 2.32B | 2.2B |
| Accounts Payable | 282.5M | 238.7M | 230.8M | 221.3M | 245.2M | 224.5M | 190.9M | 177.9M | 132.1M | 135.2M | 204.3M | 253.9M | 238.3M | 238.4M | 243.4M | 215.1M | 193.1M | 174.7M | 148.4M | 142.3M |
| Days Payables Outstanding | 58.6 | 57.96 | 53.43 | 67.35 | 70.84 | 63.78 | 53.94 | 54.14 | 44.23 | 50.7 | 66.72 | 71.27 | 73.33 | 70.44 | 70.94 | 66.35 | 66.73 | 57.29 | 58.57 | 59.74 |
| Short-Term Debt | 0 | 0 | 499.7M | 499.4M | 499M | 498.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17.6M |
| Deferred Revenue (Current) | 3.84B | 3.73B | 3.64B | 3.46B | 3.41B | 3.34B | 3.28B | 3.08B | 2.98B | 2.91B | 2.85B | 2.65B | 2.59B | 2.46B | 2.35B | 2.13B | 2.01B | 1.89B | 1.78B | 1.62B |
| Other Current Liabilities | 716.5M | 658.5M | 667.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 1.28x | 1.15x | 1.17x | 1.03x | 1.33x | 1.36x | 1.47x | 1.34x | 1.32x | 1.20x | 1.19x | 1.30x | 1.39x | 1.34x | 1.24x | 1.07x | 1.12x | 1.28x | 1.55x | 1.80x |
| Quick Ratio | 1.19x | 1.07x | 1.09x | 0.94x | 1.24x | 1.29x | 1.39x | 1.25x | 1.22x | 1.08x | 1.06x | 1.17x | 1.29x | 1.24x | 1.15x | 1.00x | 1.05x | 1.20x | 1.48x | 1.72x |
| Cash Conversion Cycle | 96.24 | 114.29 | 113.25 | 116.32 | 111.68 | 117.43 | 113.51 | 139.55 | 157.86 | 167.96 | 150.48 | 123.03 | 107.35 | 96.24 | 83.16 | 75.8 | 77.7 | 81.93 | 80.13 | 74.73 |
| Total Non-Current Liabilities | 4.47B | 4.27B | 4.12B | 3.84B | 3.8B | 3.72B | 4.21B | 4.06B | 4.04B | 4B | 4B | 3.76B | 3.66B | 3.56B | 3.43B | 3.18B | 3.04B | 2.91B | 2.8B | 2.64B |
| Long-Term Debt | 496.9M | 496.8M | 496.6M | 496.5M | 496.3M | 496.2M | 994.3M | 993.8M | 993.3M | 992.8M | 992.3M | 991.8M | 991.3M | 990.9M | 990.4M | 989.9M | 989.4M | 988.9M | 988.4M | 988M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.97B | 148.3M | 141.3M | 153.7M | 152.5M | 141.1M | 129.6M | 135.7M | 125.2M | 128.5M | 124.7M | 126.4M | 132.1M | 150.6M | 149.8M | 124.7M | 131M | 153.9M | 138.7M | 158.7M |
| Total Liabilities | 9.31B | 8.89B | 9.15B | 8.63B | 8.58B | 8.44B | 8.27B | 7.94B | 7.76B | 7.8B | 7.72B | 7.41B | 7.16B | 6.82B | 6.51B | 5.96B | 5.67B | 5.42B | 5.12B | 4.83B |
| Total Debt | 496.9M | 496.8M | 996.3M | 995.9M | 995.3M | 994.9M | 994.3M | 993.8M | 993.3M | 992.8M | 992.3M | 991.8M | 991.3M | 990.9M | 990.4M | 989.9M | 989.4M | 988.9M | 988.4M | 1.01B |
| Net Debt | -2.44B | -1.73B | -1.5B | -999.8M | -2.37B | -2.6B | -1.88B | -1.5B | -1.21B | -933.5M | -405.6M | -1.2B | -1.39B | -1.31B | -692.5M | 25.9M | 279.4M | 65.4M | -330.7M | -846.5M |
| Debt / Equity | 0.32x | 0.50x | 0.81x | 1.35x | 0.48x | 0.51x | 0.67x | 1.09x | 3.45x | - | - | 13.38x | 3.09x | 86.92x | - | - | - | 4.24x | 1.24x | 0.89x |
| Debt / EBITDA | 0.68x | 0.70x | 1.50x | 1.70x | 2.01x | 2.03x | 1.63x | 1.98x | 2.13x | 2.84x | 2.39x | 2.99x | 3.24x | 3.29x | 2.57x | 3.39x | 4.49x | 5.60x | 4.11x | 5.31x |
| Net Debt / EBITDA | -3.34x | -2.42x | -2.25x | -1.71x | -4.79x | -5.31x | -3.09x | -2.99x | -2.59x | -2.67x | -0.98x | -3.60x | -4.52x | -4.36x | -1.80x | 0.09x | 1.27x | 0.37x | -1.38x | -4.47x |
| Interest Coverage | 226.06x | 157.33x | 148.91x | 96.90x | 113.46x | 106.98x | 127.20x | 126.28x | 94.66x | 68.73x | 77.96x | 61.70x | 58.54x | 59.22x | 82.82x | 59.82x | 41.87x | 31.82x | 47.07x | 35.07x |
| Total Equity | 1.55B | 989.7M | 1.24B | 735.1M | 2.06B | 1.96B | 1.49B | 908.1M | 288.2M | -137.5M | -463.4M | 74.1M | 321.2M | 11.4M | -281.6M | -622.8M | -379.6M | 233.2M | 798.4M | 1.14B |
| Equity Growth % | -24.72% | -49.58% | -17.16% | -19.05% | 614.92% | 1527.56% | 422.36% | 1125.51% | -10.27% | -1306.14% | -64.56% | 111.9% | 184.62% | -95.11% | -135.27% | -154.84% | -136.15% | -76.22% | -6.73% | 59.23% |
| Book Value per Share | 2.09 | 1.33 | 1.65 | 0.95 | 2.66 | 2.53 | 1.93 | 1.18 | 0.37 | -0.18 | -0.60 | 0.09 | 0.40 | 0.01 | -0.36 | -0.78 | -0.47 | 0.28 | 0.96 | 1.35 |
| Total Shareholders' Equity | 1.55B | 989.7M | 1.24B | 735.1M | 2.06B | 1.96B | 1.49B | 908.1M | 288.2M | -137.5M | -463.4M | 74.1M | 321.2M | 11.4M | -281.6M | -634.7M | -392.9M | 217.7M | 781.7M | 1.12B |
| Common Stock | 700K | 700K | 700K | 700K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 800K | 200K | 800K | 200K |
| Retained Earnings | -316.7M | -782M | -507.9M | -958.5M | 364.4M | 316.3M | -117.1M | -643.3M | -1.18B | -1.56B | -1.86B | -1.3B | -1.03B | -1.3B | -1.55B | -1.86B | -1.61B | -1B | -467.9M | -138.6M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -28.8M | -27.7M | -25.4M | -21.8M | -20.7M | -22.9M | -26.1M | -18M | -29M | -24.8M | -18.9M | -24.3M | -23.1M | -18.1M | -20.2M | -25.5M | -23.4M | -15.4M | -4.8M | -1.2M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.9M | 13.3M | 15.5M | 16.7M | 17.5M |