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Fortinet

NASDAQ: FTNT

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189.1 USD

(+0%) TODAY

Systems SoftwareSoftware - Infrastructure
Financials

all figures in US$ Millions except per share data

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Actual
10 year cagr
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Where available up to 10y CAGR shown for absolute numbers 10y Average marked A shown for relative numbers such as margins
Fiscal
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Average (A)
Fiscal period end dates
Expand all rows
01Earnings per share
Help
Earnings per share = Net Income / Number of Shares Outstanding
-
-
-
0.4
0.4
0.6
0.7
1.1
1.5
2.3
2.4
73.2%
02Free cash flow per share
0.3
0.3
0.5
0.7
0.8
1.1
1.4
1.8
2.2
2.4
3
26.7%
03Dividends per share
-
-
-
-
-
-
-
-
-
-
-
-
04Dividends payout, %
-
-
-
-
-
-
-
-
-
-
-
-
PROFIT AND LOSS STATEMENT
05Revenue
1,009
1,275
1,495
1,805
2,163
2,594
3,342
4,417
5,305
5,956
6,800
21%
06% Change
-
-
-
-
-
-
-
-
-
-
-
21%
07Cost of revenue
(286.8)
(337.8)
(385.3)
(450.4)
(505.9)
(570)
(783)
(1,085)
(1,237)
(1,158)
(1,303)
16.3%
08Gross profit
722.5
937.6
1,110
1,354
1,657
2,024
2,559
3,333
4,068
4,798
5,497
22.5%
09% Margin
71.6%
73.5%
74.2%
75%
76.6%
78%
76.6%
75.4%
76.7%
80.6%
80.8%
76.3% A
10Operating expenses
(707.6)
(894.7)
(999.8)
(1,120)
(1,306)
(1,493)
(1,909)
(2,363)
(2,827)
(2,995)
(3,416)
17.1%
11% of Revenue
(70.1)%
(70.2)%
(66.9)%
(62.1)%
(60.4)%
(57.5)%
(57.1)%
(53.5)%
(53.3)%
(50.3)%
(50.2)%
(59.2)% A
12Operating Income
14.9
42.9
109.8
234.4
351
531.8
650.4
969.6
1,241
1,803
2,082
63.9%
13Income tax expense
(9)
(10.9)
(92.6)
(80.6)
(54.3)
(53.2)
(14.1)
(30.8)
(143.8)
(283.9)
(439.1)
47.5%
14Net Income
8
32.2
31.4
334.9
331.7
488.5
606.8
857.3
1,148
1,745
1,853
72.4%
15% Margin
0.8%
2.5%
2.1%
18.6%
15.3%
18.8%
18.2%
19.4%
21.6%
29.3%
27.3%
15.8% A
16Shares Outstanding
880.7
881.5
890.4
871
875
838.5
835.5
805.3
788.2
771.9
748
(1.6)%
17EPS Basic
-
-
-
0.4
0.4
0.6
0.7
1.1
1.5
2.3
2.4
73.3%
18EPS Diluted
-
-
-
0.4
0.4
0.6
0.7
1.1
1.5
2.3
2.4
73.2%
19EBITDA
54.1
95.4
165.6
290.1
447.6
610.5
727.7
1,078
1,468
2,201
2,465
46.5%
% Margin
5.4%
7.5%
11.1%
16.1%
20.7%
23.5%
21.8%
24.4%
27.7%
37%
36.3%
21% A
20Net Interest Income (expense)
5.3
7.3
13.5
26.5
42.5
17.7
(10.4)
(0.6)
98.7
135.2
142.2
39%
21Net Debt / EBITDA
(10)
(7.4)
(4.9)
(3.8)
(2.7)
(1.7)
(0.5)
(0.6)
(0.3)
(0.9)
(0.6)
(3) A
BALANCE SHEET
ASSETS
Current Assets
22Cash & equivalents
543.3
709
811
1,112
1,223
1,062
1,319
1,683
1,398
2,876
2,495
16.5%
23Short-term investments
348.1
376.5
440.3
537.2
843.1
775.5
1,233
528.1
1,043
1,191
1,087
12.1%
24Accounts receivable
259.6
313
348.2
444.5
544.3
720
807.7
1,262
1,402
1,463
1,691
20.6%
25Other current assets
35.8
33.3
40
36.8
41.2
43.3
65.4
73.1
101.1
126.1
227
20.3%
26Inventory
83.9
106.9
77.3
90
117.9
139.8
175.8
264.6
484.8
315.5
399.5
16.9%
27Total Current Assets
1,271
1,539
1,717
2,221
2,769
2,740
3,601
3,810
4,428
5,972
5,900
16.6%
Non-Current Assets
28Net property, plant & equipment
91.1
137.2
245.4
271.4
344.3
448
687.6
898.5
1,044
1,350
1,619
33.4%
29Long-term investments
273
225
98
67
144.3
118.3
440.8
45.5
-
-
339.7
2.2%
30Other non-current assets
155.9
239
197.7
518.7
621.6
737.8
1,190
1,474
1,786
2,442
2,530
32.1%
31Total Non-Current Assets
520
601.2
541.1
857.1
1,110
1,304
2,319
2,418
2,831
3,792
4,489
24.1%
Total Assets
1,791
2,140
2,258
3,078
3,879
4,045
5,919
6,228
7,259
9,763
10,389
19.2%
LIABILITIES
Current Liabilities
32Accounts payable
61.5
56.7
70
86.4
96.4
141.6
148.4
243.4
204.3
190.9
230.8
14.1%
33Short-term debt
-
-
-
-
-
-
-
-
-
-
499.7
-
34Other current liabilities
617.2
772.7
957.2
1,170
1,359
1,688
2,170
2,835
3,515
3,870
4,304
21.4%
35Total Current Liabilities
678.7
829.4
1,027
1,256
1,456
1,830
2,318
3,078
3,719
4,061
5,034
22.2%
Non-Current Liabilities
36Long-term debt
-
-
-
-
-
-
988.4
990.4
992.3
994.3
496.6
(15.8)%
37Other non-current liabilities
356.5
472.8
641.3
811.4
1,081
1,359
1,814
2,441
3,011
3,214
3,621
26.1%
38Total Non-Current Liabilities
356.5
472.8
641.3
811.4
1,081
1,359
2,803
3,431
4,003
4,209
4,118
27.7%
39Total Liabilities
1,035
1,302
1,669
2,068
2,537
3,189
5,121
6,510
7,722
8,269
9,152
24.4%
SHAREHOLDERS` EQUITY
40Common stock
0.2
0.2
0.2
0.2
0.2
0.2
0.8
0.8
0.8
0.8
0.7
15.1%
41Retained earnings / (deficit)
68.5
37.6
(319.6)
(57.5)
160.8
(352.1)
(467.9)
(1,546)
(1,862)
(117.1)
(507.9)
-
42Accumulated other comprehensive income / (loss)
(0.9)
(0.8)
(0.8)
(0.8)
1.1
0.7
(4.8)
(20.2)
(18.9)
(26.1)
(25.4)
39.2%
43Noncontrolling interests
-
-
-
-
-
-
16.7
-
-
-
-
-
44Total shareholders' equity
755.4
837.7
589.4
1,010
1,342
856
798.4
(281.6)
(463.4)
1,494
1,238
5.1%
45Total Liabilities and shareholders' Equity
1,791
2,140
2,258
3,078
3,879
4,045
5,919
6,228
7,259
9,763
10,389
19.2%
46Total Debt
-
-
-
-
-
-
988.4
990.4
992.3
994.3
996.3
0.2%
47Net Debt
(543.3)
(709)
(811)
(1,112)
(1,223)
(1,062)
(330.7)
(692.5)
(405.6)
(1,882)
(1,499)
10.7%
CASH FLOW STATEMENT
CASH FLOWS FROM OPERATING ACTIVITIES
48Net income (loss)
8
32.2
31.4
334.9
331.7
488.5
606.8
857.3
1,148
1,745
1,853
72.4%
49Depreciation & amortization
31.6
48.5
55.5
55.7
61.6
68.8
84.4
104.3
113.4
122.8
336.3
26.7%
50Share-based compensation expense
95.1
122.4
137.2
162.9
174.1
191.7
207.9
217.3
249
257.9
279.5
11.4%
51Changes in working capital and other assets
147.9
142.6
370.3
85.4
240.6
334.7
600.6
551.7
425.3
132.2
121.4
(2)%
52Net cash flows from operating activities
282.5
345.7
594.4
638.9
808
1,084
1,500
1,731
1,936
2,258
2,591
24.8%
CASH FLOWS FROM INVESTING ACTIVITIES
53Purchases of property, plant and equipment
(37.4)
(67.2)
(135.3)
(53)
(92.2)
(125.9)
(295.9)
(281.2)
(204.1)
(378.9)
(364.8)
25.6%
54Purchases of investments / marketable securities
(459.9)
(473.6)
(669.2)
(681.8)
(1,332)
(1,079)
(2,351)
(389.1)
(1,856)
(1,965)
(1,996)
15.8%
55Proceeds from maturities of marketable securities
534.3
488.8
727.7
621.6
956.8
1,171
1,556
1,465
1,419
1,892
1,803
12.9%
56Other investing activities
(38)
(22.1)
-
(21.7)
(34.6)
(38.9)
(234.5)
(30.8)
(8.2)
(275.4)
(41.5)
0.9%
57Net cash flows from investing activities
(1)
(74.1)
(76.8)
(134.9)
(502.3)
(72.8)
(1,325)
763.9
(649.3)
(727.4)
(599.1)
90.2%
CASH FLOWS FROM FINANCING ACTIVITIES
58Issuance (repurchases) of common stock, net
7.3
(66)
(370.5)
(125.3)
(95.6)
(1,058)
(715.8)
(1,965)
(1,457)
62.5
(2,245)
-
59Dividends paid, net
-
-
-
-
-
-
-
-
-
-
-
-
60Debt issuance (repayments), net
-
(1.6)
-
(10.1)
(3.7)
(4.1)
969.9
-
-
-
-
-
61Other financing activities
(28.9)
(38.3)
(45.1)
(67.2)
(96.3)
(109.5)
(171.3)
(165.2)
(113.7)
(112.6)
(126.4)
15.9%
62Net cash flows from financing activities
(21.6)
(105.9)
(415.6)
(202.6)
(195.6)
(1,172)
82.8
(2,130)
(1,570)
(50.1)
(2,372)
60%
63Increase (decrease) in cash and cash equivalents
260
165.7
102
301.4
110.1
(160.7)
257.3
363.8
(285)
1,478
(380.6)
-
64Cash and equivalents, ending balance
543.3
709
811
1,112
1,223
1,062
1,319
1,683
1,398
2,876
2,495
16.5%
65Free Cash Flow to the Firm (FCFF)
Help
Free Cash Flow to the Firm = Cash Flows from Operating Activities - Capital Expenditures
245.2
278.5
459.1
585.9
715.8
957.8
1,204
1,449
1,731
1,879
2,226
24.7%

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