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Fortinet (NAS:FTNT) Cash-to-Debt

: 2.46 (As of Dec. 2023)
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Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Fortinet's cash to debt ratio for the quarter that ended in Dec. 2023 was 2.46.

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. Here we can see, Fortinet could pay off its debt using the cash in hand for the quarter that ended in Dec. 2023.

The historical rank and industry rank for Fortinet's Cash-to-Debt or its related term are showing as below:

FTNT' s Cash-to-Debt Range Over the Past 10 Years
Min: 2.23   Med: No Debt   Max: No Debt
Current: 2.46

During the past 13 years, Fortinet's highest Cash to Debt Ratio was No Debt. The lowest was 2.23. And the median was No Debt.

FTNT's Cash-to-Debt is ranked better than
50.69% of 2807 companies
in the Software industry
Industry Median: 2.37 vs FTNT: 2.46

Fortinet Cash-to-Debt Historical Data

The historical data trend for Fortinet's Cash-to-Debt 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.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

Fortinet Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cash-to-Debt
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only No Debt No Debt 2.58 2.23 2.46

Fortinet Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cash-to-Debt Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.23 2.91 3.34 3.20 2.46

Competitive Comparison

For the Software - Infrastructure subindustry, Fortinet's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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 Cash-to-Debt Distribution

For the Software industry and Technology sector, Fortinet's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Fortinet's Cash-to-Debt falls into.



Fortinet Cash-to-Debt Calculation

This is the ratio of a company's Cash, Cash Equivalents, Marketable Securities to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

Fortinet's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Fortinet's Cash to Debt Ratio for the quarter that ended in Dec. 2023 is calculated as:

* 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.


Fortinet  (NAS:FTNT) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.


Fortinet Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of Fortinet's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.


Fortinet (NAS:FTNT) Business Description

Traded in Other Exchanges
Address
899 Kifer Road, Sunnyvale, CA, USA, 94086
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.
Executives
Ken Xie director, officer: President & CEO 4655 GREAT AMERICA PARKWAY - SUITE 300, SANTA CLARA CA 95054
Patrice Perche officer: Chief Revenue Off./EVP Supp. C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94086
Michael Xie director, officer: VP, Engineering & CTO 1090 KIFER ROAD, SUNNYVALE CA 94086
William H. Neukom director C/O FORTINET, INC., 1090 KIFER ROAD, SUNNYVALE CA 94086
Keith Jensen officer: Chief Accounting Officer C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94068
John Whittle officer: VP & General Counsel 1090 KIFER ROAD, SUNNYVALE CA 94086
James G. Stavridis director C/O NEUBERGER BERMAN MANAGEMENT LLC, 605 THIRD AVENUE, NEW YORK NY 10158-0180
Christopher B Paisley director 14870 THREE OAKS COURT, SARATOGA CA 95070
Jean X. Hu director 2485 AUGUSTINE DRIVE, SANTA CLARA CA 95054
Kelly Ducourty director C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94086
Cohen Peter Dale Jr. director C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94086
Ming Hsieh director 4399 SANTA ANITA AVE., EL MONTE CA 91731
Judith Sim director C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94086
Del Matto Andrew H officer: Chief Financial Officer 350 ELLIS STREET, MOUNTAIN VIEW CA 94043
Gary Locke director C/O FORTINET, INC., 899 KIFER ROAD, SUNNYVALE CA 94086