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Fortinet (LTS:0IR9) Debt-to-Equity : 1.09 (As of Sep. 2024)


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What is Fortinet Debt-to-Equity?

Fortinet's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $0 Mil. Fortinet's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2024 was $994 Mil. Fortinet's Total Stockholders Equity for the quarter that ended in Sep. 2024 was $908 Mil. Fortinet's debt to equity for the quarter that ended in Sep. 2024 was 1.09.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

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

LTS:0IR9' s Debt-to-Equity Range Over the Past 10 Years
Min: -7.22   Med: 1.01   Max: 86.92
Current: 1.09

During the past 13 years, the highest Debt-to-Equity Ratio of Fortinet was 86.92. The lowest was -7.22. And the median was 1.01.

LTS:0IR9's Debt-to-Equity is ranked worse than
86.38% of 2210 companies
in the Software industry
Industry Median: 0.22 vs LTS:0IR9: 1.09

Fortinet Debt-to-Equity Historical Data

The historical data trend for Fortinet's Debt-to-Equity 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 Debt-to-Equity Chart

Fortinet Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 1.26 -3.52 -2.14

Fortinet Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Debt-to-Equity Get a 7-Day Free Trial 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 13.39 -2.14 -7.22 3.45 1.09

Competitive Comparison of Fortinet's Debt-to-Equity

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

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

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



Fortinet Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

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

Fortinet's Debt to Equity Ratio for the quarter that ended in Sep. 2024 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  (LTS:0IR9) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.


Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.


Fortinet Debt-to-Equity Related Terms

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


Fortinet Business Description

Traded in Other Exchanges
Address
909 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.

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