Fortinet (XSWX:FTNT) Inventory Turnover: 0.95 (As of Mar. 2026)

What is Fortinet Inventory Turnover?

Fortinet XSWX:FTNT 91 Inventory Turnover is 0.95 as of Mar. 2026. GuruFocus rates XSWX:FTNT with a GF Score™ of 91/100 and a GF Value™ of CHF80.86. The stock has 5 warning signs investors should review.

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Fortinet's Cost of Goods Sold for the three months ended in Mar. 2026 was CHF365 Mil. Fortinet's Average Total Inventories for the quarter that ended in Mar. 2026 was CHF385 Mil. Fortinet's Inventory Turnover for the quarter that ended in Mar. 2026 was 0.95.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Fortinet's Days Inventory for the three months ended in Mar. 2026 was 96.27.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Fortinet's Inventory-to-Revenue for the quarter that ended in Mar. 2026 was 0.21.

Fortinet (XSWX:FTNT) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Fortinet's Days Inventory for the three months ended in Mar. 2026 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2026 )	/	Cost of Goods Sold (Q: Mar. 2026 )	*	Days in Period
	=	384.55	/	364.5	*	365 / 4
	=	96.27

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Fortinet's Inventory to Revenue for the quarter that ended in Mar. 2026 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	384.55	/	1849.6
	=	0.21

* 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.

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Fortinet Inventory Turnover Related Terms

Fortinet Inventory Turnover Historical Data

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The historical data trend for Fortinet's Inventory Turnover can be seen below:

Fortinet Inventory Turnover Chart

Fortinet Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Inventory Turnover

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4.96

4.93

3.30

2.89

3.72

Fortinet Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Inventory Turnover	Get a 7-Day Free Trial															0.86	0.82	0.80	0.94	0.95

91GF Score

Fortinet Inc XSWX:FTNT

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Fortinet Inventory Turnover Calculation

Fortinet's Inventory Turnover for the fiscal year that ended in Dec. 2025 is calculated as

	Inventory Turnover (A: Dec. 2025 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2025 )	/ (	(Total Inventories (A: Dec. 2024 )	+	Total Inventories (A: Dec. 2025 ))	/	count )
=	1328.9	/ (	(315.5	+	399.5)	/	2 )
=	1328.9	/	357.5
=	3.72

Fortinet's Inventory Turnover for the quarter that ended in Mar. 2026 is calculated as

	Inventory Turnover (Q: Mar. 2026 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2026 )	/ (	(Total Inventories (Q: Dec. 2025 )	+	Total Inventories (Q: Mar. 2026 ))	/	count )
=	364.5	/ (	(399.5	+	369.6)	/	2 )
=	364.5	/	384.55
=	0.95

Frequently Asked Questions Learn more about Inventory Turnover →

What does a Inventory Turnover of 0.95 mean?

Fortinet (XSWX:FTNT) has a Inventory Turnover of 0.95 as of Mar. 2026. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Fortinet and its competitors.

Is Fortinet's Inventory Turnover too high?

Fortinet's current Inventory Turnover is 0.95. Overall, Fortinet has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.

How does Fortinet's Inventory Turnover compare to ?

Fortinet's Inventory Turnover of 0.95 can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Inventory Turnover for a Software company?

A good Inventory Turnover depends on the Software industry context. However, Inventory Turnover should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Inventory Turnover mean?

A high Inventory Turnover can signal that a stock is expensive relative to its fundamentals. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Fortinet and its competitors. Fortinet's current Inventory Turnover is 0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Fortinet stock overvalued right now?

Fortinet (XSWX:FTNT) has a current Inventory Turnover of 0.95. The stock's GF Value™ is CHF80.86, compared to a current price of CHF127.04 — trading 57.1% above its estimated fair value. The current Inventory Turnover is 0.95. Fortinet's overall GF Score™ is 91/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Inventory Turnover calculated?

Inventory Turnover is calculated from a company's financial statements. For Fortinet (XSWX:FTNT), the current Inventory Turnover is 0.95 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Fortinet (XSWX:FTNT) Overvalued in 2026?

Based on GuruFocus' analysis, Fortinet stock appears to be overvalued. The current stock price of CHF127.04 is trading 57.1% above its estimated GF Value™ of CHF80.86.

Key valuation signals for XSWX:FTNT:

Inventory Turnover: 0.95
GF Value™: CHF80.86 vs. price of CHF127.04 (57.1% above fair value)
GF Score™: 91/100 with 5 warning signs

No single metric tells the full story. See the XSWX:FTNT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Fortinet Business Description

Industry Technology Software

Comparable Companies

Other Exchanges FTNT:USA FTNT:Mexico 1FTNT:Italy 0IR9:UK FO8:Germany F1TN34:Brazil

Address 909 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 800,000 customers across the world.

91GF Score

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Inventory Turnover is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF127.04

Price

CHF80.86

GF Value

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