Fortinet (BSP:F1TN34) Days Payable

: 66.47 (As of Dec. 2023)

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Fortinet's average Accounts Payable for the three months ended in Dec. 2023 was R$1,127 Mil. Fortinet's Cost of Goods Sold for the three months ended in Dec. 2023 was R$1,548 Mil. Hence, Fortinet's Days Payable for the three months ended in Dec. 2023 was 66.47.

The historical rank and industry rank for Fortinet's Days Payable or its related term are showing as below:

BSP:F1TN34' s Days Payable Range Over the Past 10 Years
Min: 60.03 Med: 65.99 Max: 76.2
Current: 69.52

During the past 13 years, Fortinet's highest Days Payable was 76.20. The lowest was 60.03. And the median was 65.99.

BSP:F1TN34's Days Payable is ranked better than
58.77% of 2525 companies
in the Software industry
Industry Median: 51.49 vs BSP:F1TN34: 69.52

Fortinet's Days Payable declined from Dec. 2022 (70.35) to Dec. 2023 (66.47). It may suggest that Fortinet accelerated paying its suppliers.

Fortinet Days Payable Historical Data

The historical data trend for Fortinet's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fortinet Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Payable

64.26

69.96

64.61

67.86

68.57

Fortinet Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable																70.35	71.67	76.22	70.10	66.47

Competitive Comparison

For the Software - Infrastructure subindustry, Fortinet's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Fortinet Days Payable Distribution

For the Software industry and Technology sector, Fortinet's Days Payable distribution charts can be found below:

* The bar in red indicates where Fortinet's Days Payable falls into.

Fortinet Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Fortinet's Days Payable for the fiscal year that ended in Dec. 2023 is calculated as

	Days Payable (A: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2022 )	+	Accounts Payable (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (1276.73	+	1001.029)	/	2 )	/	6062.033	*	365
=	1138.8795					/	6062.033	*	365
=	68.57

Fortinet's Days Payable for the quarter that ended in Dec. 2023 is calculated as:

	Days Payable (Q: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Sep. 2023 )	+	Accounts Payable (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (1253.936	+	1001.029)	/	2 )	/	1547.847	*	365 / 4
=	1127.4825					/	1547.847	*	365 / 4
=	66.47

Fortinet Days Payable Related Terms

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Fortinet (BSP:F1TN34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Fortinet Inc (BSP:F1TN34) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

FTNT:USA FTNT:Mexico FO8:Germany

Address

899 Kifer Road, Sunnyvale, CA, USA, 94086

Website

https://www.fortinet.com

Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.

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