Fortinet Inc

Technology US FTNT

95.205USD
1.84(1.98%)

Last update at 2024-12-19T18:54:00Z

Day Range

94.2396.86
LowHigh

52 Week Range

44.1281.24
LowHigh

Fundamentals

  • Previous Close 93.36
  • Market Cap45416.11M
  • Volume2087101
  • P/E Ratio39.90
  • Dividend Yield-%
  • EBITDA1398.80M
  • Revenue TTM5395.80M
  • Revenue Per Share TTM6.98
  • Gross Profit TTM 3332.50M
  • Diluted EPS TTM1.49

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 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 7258.90M 6228.00M 5919.10M 4044.50M 3885.50M
Intangible assets 35.30M 56.00M 63.60M 31.60M 31.10M
Earning assets - - - - -
Other current assets 101.10M 73.10M 65.40M 43.30M 41.20M
Total liab 7722.30M 6509.60M 5120.70M 3188.50M 2563.60M
Total stockholder equity -463.40000M -281.60000M 781.70M 856.00M 1321.90M
Deferred long term liab - 2291.00M 423.30M 1212.50M 962.30M
Other current liab 632.60M 485.70M 392.30M 295.10M 203.60M
Common stock 0.80M 0.80M 0.20M 0.20M 0.20M
Capital stock 0.80M 0.80M 0.20M 0.20M 0.20M
Retained earnings -1861.70000M -1546.40000M -467.90000M -352.10000M 140.30M
Other liab - 2378.30M 1814.20M 1359.00M 1059.40M
Good will 126.50M 128.00M 125.10M 93.00M 67.20M
Other assets 0.00000M 1193.30M 1001.40M 732.00M 480.00M
Cash 1397.90M 1682.90M 1319.10M 1061.80M 1222.50M
Cash and equivalents - - - - -
Total current liabilities 3719.00M 3078.40M 2318.10M 1829.50M 1473.60M
Current deferred revenue 2848.70M 2349.30M 1777.40M 1392.80M 1173.60M
Net debt -326.50000M -692.50000M -330.70000M -1061.80000M -1222.50000M
Short term debt 33.40M - - - -
Short long term debt - - - - -
Short long term debt total 1071.40M 990.40M 988.40M - -
Other stockholder equity 1416.40M 1284.20M 1254.20M 1207.20M 1180.30M
Property plant equipment - 898.50M 687.60M 448.00M 344.30M
Total current assets 4428.30M 3810.40M 3600.60M 2740.40M 2769.00M
Long term investments 0.00000M 45.50M 440.80M 118.30M 144.30M
Net tangible assets - -281.60000M 593.00M 731.40M 1223.60M
Short term investments 1042.50M 528.10M 1232.60M 775.50M 843.10M
Net receivables 1402.00M 1261.70M 807.70M 720.00M 544.30M
Long term debt 992.30M 990.40M 988.40M - -
Inventory 484.80M 264.60M 175.80M 139.80M 117.90M
Accounts payable 204.30M 243.40M 148.40M 141.60M 96.40M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - 16.70M - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -18.90000M -20.20000M -4.80000M 0.70M 1.10M
Additional paid in capital - - - - -
Common stock total equity - 0.80M 0.20M 0.20M 0.20M
Preferred stock total equity - - - - -
Retained earnings total equity - -1546.40000M -467.90000M -352.10000M 140.30M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 637.40M 720.20M 659.10M 368.00M 297.00M
Deferred long term asset charges - - - - -
Non current assets total 2830.60M 2417.60M 2318.50M 1304.10M 1116.50M
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

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
1.84 1.98% 95.20 39.90 39.06 9.56 699.20 9.29 33.57
MSFT
Microsoft Corporation
2.46 0.56% 439.85 37.32 29.94 13.03 12.45 13.06 24.59
ORCL
Oracle Corporation
4.83 2.92% 170.24 29.34 18.66 5.55 74.06 7.10 18.13
ADBE
Adobe Systems Incorporated
1.91 0.43% 443.22 46.32 26.81 11.51 16.73 11.55 31.20
PANW
Palo Alto Networks Inc
1.74 0.92% 190.50 44.57 45.05 11.98 20.70 11.82 77.11

Reports Covered

Stock Research & News

Profile

Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products. The company also provides the Fortinet Unified SASE solutions that include firewall, SD-WAN, Secure web gateway, cloud access services broker, data loss prevention, zero trust network access, and cloud security, including web application firewalls, virtualized firewalls, and cloud-native firewalls. In addition, it offers security operations solutions comprising FortiAI generative AI assistant, FortiSIEM security information and event management, FortiSOAR security orchestration, automation and response, FortiEDR endpoint detection and response, FortiXDR extended detection and response, FortiMDR managed detection and response service, FortiNDR network detection and response, FortiRecon digital risk protection, FortiDeceptor deception technology, FortiGuard SoCaaS, FortiSandbox sandboxing, FortiGuard incident response, and other products. Further, the company offers FortiGuard security services consisting of FortiGuard application security, content security, device security, NOC/SOC security, and web security services; FortiCare technical support services; and training services to customers and channel partners, as well as operates a FortiGuard Lab, a cybersecurity threat intelligence and research organization. It serves enterprise, communication and security service providers, government organizations, and small and medium-sized businesses. The company was incorporated in 2000 and is headquartered in Sunnyvale, California.

Fortinet Inc

909 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

Disclaimer - This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.