0R15 7793.0 0.1028% 0R1E 7575.0 -1.8782% 0M69 None None% 0R2V 184.5 6.0345% 0QYR 1387.5 0.7991% 0QYP 405.5 -0.7344% 0LCV 141.03 0.952% 0RUK None None% 0RYA 1733.01 -1.0839% 0RIH 165.3 0.3643% 0RIH 165.3 0.3643% 0R1O 186.6 9945.7604% 0R1O None None% 0QFP None None% 0M2Z 299.0593 0.5664% 0VSO None None% 0R1I None None% 0QZI 450.5 2.7366% 0QZ0 220.0 0.0% 0NZF None None%

Fortinet Inc

Technology US FTNT

58.88USD
-6.32(9.69%)

Last update at 2024-05-03T20:13:00Z

Day Range

58.7962.49
LowHigh

52 Week Range

44.1281.24
LowHigh

Financials

Income Statement

Balancesheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 955.50M 628.40M 541.70M 379.20M 250.90M
Minority interest 0.70M -0.10000M - - -
Net income 857.30M 606.80M 488.50M 326.50M 332.20M
Selling general administrative 169.00M 143.50M 119.50M 102.10M 93.00M
Selling and marketing expenses 1686.10M 1345.70M 1071.90M 926.90M 782.30M
Gross profit 3332.50M 2559.20M 2024.40M 1650.30M 1350.80M
Reconciled depreciation 104.30M 84.40M 68.80M 61.60M 55.70M
Ebit 969.60M 650.40M 531.80M 344.20M 231.00M
Ebitda 1077.80M 727.70M 560.40M 405.80M 286.70M
Depreciation and amortization 108.20M 77.30M 28.60M 61.60M 55.70M
Non operating income net other -64.20000M -14.70000M 9.90M 35.00M 19.90M
Operating income 969.60M 650.40M 531.80M 344.20M 231.00M
Other operating expenses 3452.40M 2696.40M 2102.80M 1812.00M 1570.20M
Interest expense 18.00M 14.90M 50.10M 35.00M 26.50M
Tax provision 30.80M 14.10M 53.20M 52.70M -81.30000M
Interest income 17.40M 4.50M 17.70M 42.50M 26.50M
Net interest income -0.60000M -10.40000M 17.70M 42.50M 26.50M
Extraordinary items - - - 2.10M -32.60000M
Non recurring - - - - -
Other items - - - - -
Income tax expense 30.80M 14.10M 53.20M 52.70M -81.30000M
Total revenue 4417.40M 3342.20M 2594.40M 2156.20M 1801.20M
Total operating expenses 2367.50M 1913.40M 1532.80M 1306.10M 1119.80M
Cost of revenue 1084.90M 783.00M 570.00M 505.90M 450.40M
Total other income expense net -14.10000M -22.00000M 9.90M 35.00M -6.60000M
Discontinued operations - - - - -
Net income from continuing ops 856.60M 606.70M 488.50M 326.50M 332.20M
Net income applicable to common shares 857.30M 606.80M 488.50M 326.50M 332.20M
Preferred stock and other adjustments - - - - -
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 6228.00M 5919.10M 4044.50M 3885.50M 3078.00M
Intangible assets 56.00M 63.60M 31.60M 31.10M 22.10M
Earning assets - - - - -
Other current assets 73.10M 65.40M 43.30M 41.20M 36.80M
Total liab 6509.60M 5120.70M 3188.50M 2563.60M 2067.80M
Total stockholder equity -281.60000M 781.70M 856.00M 1321.90M 1010.20M
Deferred long term liab 2291.00M 423.30M 1212.50M 962.30M 720.90M
Other current liab 485.70M 392.30M 295.10M 203.60M 175.90M
Common stock 0.80M 0.20M 0.20M 0.20M 0.20M
Capital stock 0.80M 0.20M 0.20M 0.20M 0.20M
Retained earnings -1546.40000M -467.90000M -352.10000M 140.30M -57.50000M
Other liab 2378.30M 1814.20M 1359.00M 1059.40M 811.40M
Good will 128.00M 125.10M 93.00M 67.20M 38.20M
Other assets 1193.30M 1001.40M 732.00M 480.00M 449.30M
Cash 1682.90M 1319.10M 1061.80M 1222.50M 1112.40M
Cash and equivalents - - - - -
Total current liabilities 3078.40M 2318.10M 1829.50M 1473.60M 1256.40M
Current deferred revenue 2349.30M 1777.40M 1392.80M 1173.60M 965.90M
Net debt -692.50000M -330.70000M -1061.80000M -1222.50000M -1112.40000M
Short term debt - - - - 28.20M
Short long term debt - - - - -
Short long term debt total 990.40M 988.40M - - -
Other stockholder equity 1284.20M 1254.20M 1207.20M 1180.30M 1068.30M
Property plant equipment 898.50M 687.60M 448.00M 344.30M 271.40M
Total current assets 3810.40M 3600.60M 2740.40M 2769.00M 2220.90M
Long term investments 45.50M 440.80M 118.30M 144.30M 67.00M
Net tangible assets -281.60000M 593.00M 731.40M 1223.60M 949.90M
Short term investments 528.10M 1232.60M 775.50M 843.10M 537.20M
Net receivables 1261.70M 807.70M 720.00M 544.30M 444.50M
Long term debt 990.40M 988.40M - - -
Inventory 264.60M 175.80M 139.80M 117.90M 90.00M
Accounts payable 243.40M 148.40M 141.60M 96.40M 86.40M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - 16.70M - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -20.20000M -4.80000M 0.70M 1.10M -0.80000M
Additional paid in capital - - - - -
Common stock total equity 0.80M 0.20M 0.20M 0.20M 0.20M
Preferred stock total equity - - - - -
Retained earnings total equity -1546.40000M -467.90000M -352.10000M 140.30M -57.50000M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 720.20M 659.10M 368.00M 297.00M 203.40M
Deferred long term asset charges - - - - 255.00M
Non current assets total 2417.60M 2318.50M 1304.10M 1116.50M 857.10M
Capital lease obligations - - - - -
Long term debt total 990.40M 988.40M - - -
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments 763.90M -1325.10000M 92.00M -375.50000M -60.20000M
Change to liabilities 208.90M 732.30M 136.00M 431.30M 377.90M
Total cashflows from investing activities 763.90M -1325.10000M -72.80000M -502.30000M -134.90000M
Net borrowings - 969.90M -4.10000M -3.70000M -10.10000M
Total cash from financing activities -2130.30000M 82.80M -1171.60000M -195.60000M -202.60000M
Change to operating activities -257.50000M -238.00000M -113.90000M -170.00000M -118.80000M
Net income 856.60M 606.70M 488.50M 326.50M 332.20M
Change in cash 363.80M 257.30M -160.70000M 110.10M 301.40M
Begin period cash flow 1319.10M 1061.80M 1222.50M 1112.40M 811.00M
End period cash flow 1682.90M 1319.10M 1061.80M 1222.50M 1112.40M
Total cash from operating activities 1730.60M 1499.70M 1083.70M 808.00M 638.90M
Issuance of capital stock 26.10M 26.00M 22.10M 49.50M 86.50M
Depreciation 104.30M 84.40M 68.80M 61.60M 55.70M
Other cashflows from investing activities -30.80000M 0.40M -38.90000M -34.60000M -21.70000M
Dividends paid - -989.40000M - - -
Change to inventory -109.10000M -19.40000M -42.20000M -48.50000M -33.40000M
Change to account receivables -456.70000M -72.50000M -176.40000M -96.70000M -82.00000M
Sale purchase of stock -1991.20000M -741.80000M -1080.10000M -145.10000M -211.80000M
Other cashflows from financing activities -165.20000M 1807.50M -109.50000M -96.30000M -67.20000M
Change to netincome 82.60M 230.20M 187.20M 197.60M 34.20M
Capital expenditures 281.20M 295.90M 125.90M 92.20M 53.00M
Change receivables -456.70000M -72.50000M -176.40000M -96.70000M -218.40000M
Cash flows other operating 1039.60M 684.10M 420.50M -57.80000M 91.30M
Exchange rate changes - - - - -
Cash and cash equivalents changes 364.20M 257.40M -160.70000M 110.10M 301.40M
Change in working capital 233.00M 402.40M 190.00M 138.20M -1.30000M
Stock based compensation 217.30M 207.90M 191.70M 174.10M 162.90M
Other non cash items 545.80M 183.80M 143.40M 113.60M 217.20M
Free cash flow 1449.40M 1203.80M 957.80M 715.80M 585.90M

Fundamentals

  • Previous Close 65.20
  • Market Cap43087.43M
  • Volume15871044
  • P/E Ratio38.97
  • Dividend Yield1.78%
  • EBITDA1319.40M
  • Revenue TTM5172.70M
  • Revenue Per Share TTM6.61
  • Gross Profit TTM 3332.50M
  • Diluted EPS TTM1.44

Peer Comparison

Sector: Technology Industry: Software - Infrastructure

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x) Enterprise Value to Revenue (x) Enterprise Value to EBITDA (x)
FTNT
Fortinet Inc
-6.32 9.69% 58.88 38.97 33.44 8.33 581.48 7.91 28.87
MSFT
Microsoft Corporation
8.96 2.25% 406.80 36.23 33.11 12.62 12.48 12.35 24.07
ORCL
Oracle Corporation
0.84 0.73% 115.80 29.34 18.66 5.55 74.06 7.10 18.13
ADBE
Adobe Systems Incorporated
9.61 2.02% 486.18 50.49 33.22 13.98 16.43 13.79 34.38
PANW
Palo Alto Networks Inc
0.89 0.30% 296.21 166.60 58.48 13.17 44.82 12.93 84.16

Reports Covered

Stock Research & News

Profile

Fortinet, Inc. provides cybersecurity and networking solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides centralized network logging, analyzing and reporting solutions. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiAuthenticator, a zero trust access solution; FortiGate VM, a network firewall virtual appliance; FortiToken, product family for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both machine-learning anti-malware protection and remediation. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. The company was incorporated in 2000 and is headquartered in Sunnyvale, California.

Fortinet Inc

899 Kifer Road, Sunnyvale, CA, United States, 94086

Key Executives

Name Title Year Born
Mr. Ken Xie Founder, Chairman & CEO 1963
Mr. Michael Xie Founder, Pres, CTO & Director 1969
Mr. Keith F. Jensen CFO & Chief Accounting Officer 1959
Mr. John Whittle EVP of Corp. Devel., Chief Legal Officer & Corp. Sec. 1969
Ms. Ana Pease VP of Talent Management & Operations NA
Mr. Peter M. Salkowski VP of Investor Relations NA
Mr. John Maddison Chief Marketing Officer & Exec. VP of Products NA
Mr. Chris Perna VP of Talent Acquisition NA
Mr. Patrice Perche Exec. VP of Support & Chief Revenue Officer 1962
Pedro Paixao Pres for Latin America and Gen. Mang. for Latin America NA

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