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Fortinet (FTNT)
NASDAQ:FTNT
US Market
FTNT
Fortinet
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Fortinet (FTNT) Ratios

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Fortinet Ratios

FTNT's free cash flow for Q1 2026 was $0.80. For the 2026 fiscal year, FTNT's free cash flow was decreased by $ and operating cash flow was $0.36. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
 1.15 1.17 1.47 1.19 1.24
Quick Ratio
 1.07 1.09 1.39 1.06 1.15
Cash Ratio
 0.48 0.50 0.71 0.38 0.55
Solvency Ratio
 0.25 0.22 0.23 0.16 0.15
Operating Cash Flow Ratio
 0.61 0.51 0.56 0.52 0.56
Short-Term Operating Cash Flow Coverage
 0.00 5.18 0.00 0.00 0.00
Net Current Asset Value
$ -3.56B$ -3.25B$ -2.30B$ -3.29B$ -2.70B
Leverage Ratios
Debt-to-Assets Ratio
 0.05 0.10 0.10 0.14 0.16
Debt-to-Equity Ratio
 0.50 0.81 0.67 -2.14 -3.52
Debt-to-Capital Ratio
 0.33 0.45 0.40 1.88 1.40
Long-Term Debt-to-Capital Ratio
 0.33 0.29 0.40 1.88 1.40
Financial Leverage Ratio
 9.99 8.40 6.54 -15.66 -22.12
Debt Service Coverage Ratio
 114.65 3.90 95.87 63.06 58.17
Interest Coverage Ratio
 113.82 103.58 90.17 59.10 53.87
Debt to Market Cap
 <0.01 0.02 0.01 0.02 0.03
Interest Debt Per Share
 0.70 1.37 1.33 1.30 1.27
Net Debt to EBITDA
 -0.64 -0.61 -0.85 -0.28 -0.64
Profitability Margins
Gross Profit Margin
80.67%80.84%80.56%76.68%75.44%
EBIT Margin
34.30%34.01%34.90%25.54%22.04%
EBITDA Margin
37.82%36.25%36.96%27.67%24.40%
Operating Profit Margin
31.06%30.62%30.28%23.40%21.95%
Pretax Profit Margin
34.03%33.72%34.07%24.35%20.09%
Net Profit Margin
27.49%27.26%29.30%21.64%19.41%
Continuous Operations Profit Margin
27.49%27.26%29.30%21.64%19.39%
Net Income Per EBT
80.79%80.85%86.01%88.87%96.61%
EBT Per EBIT
109.56%110.11%112.52%104.07%91.52%
Return on Assets (ROA)
19.78%17.84%17.88%15.81%13.77%
Return on Equity (ROE)
155.65%149.77%116.83%-247.69%-304.44%
Return on Capital Employed (ROCE)
41.98%38.88%31.63%35.06%30.78%
Return on Invested Capital (ROIC)
33.92%28.75%27.20%31.16%29.72%
Return on Tangible Assets
20.49%18.47%18.54%16.17%14.18%
Earnings Yield
1.84%3.14%2.42%2.52%2.22%
Efficiency Ratios
Receivables Turnover
 4.78 4.02 4.07 3.78 3.50
Payables Turnover
 5.76 5.64 6.06 6.06 4.46
Inventory Turnover
 3.72 3.26 3.67 2.55 4.10
Fixed Asset Turnover
 4.20 4.20 4.41 5.08 4.92
Asset Turnover
 0.72 0.65 0.61 0.73 0.71
Working Capital Turnover Ratio
 9.03 4.90 4.55 7.36 4.39
Cash Conversion Cycle
 111.07 138.05 128.97 179.22 111.38
Days of Sales Outstanding
 76.30 90.78 89.68 96.47 104.25
Days of Inventory Outstanding
 98.18 111.94 99.48 143.03 89.02
Days of Payables Outstanding
 63.41 64.67 60.19 60.27 81.89
Operating Cycle
 174.48 202.73 189.16 239.49 193.27
Cash Flow Ratios
Operating Cash Flow Per Share
 3.80 3.49 2.95 2.49 2.19
Free Cash Flow Per Share
 3.30 3.00 2.46 2.22 1.83
CapEx Per Share
 0.50 0.49 0.50 0.26 0.36
Free Cash Flow to Operating Cash Flow
 0.87 0.86 0.83 0.89 0.84
Dividend Paid and CapEx Coverage Ratio
 7.60 7.10 5.96 9.48 6.15
Capital Expenditure Coverage Ratio
 7.60 7.10 5.96 9.48 6.15
Operating Cash Flow Coverage Ratio
 5.64 2.60 2.27 1.95 1.75
Operating Cash Flow to Sales Ratio
 0.39 0.38 0.38 0.36 0.39
Free Cash Flow Yield
2.31%3.77%2.60%3.80%3.75%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
 59.04 32.55 41.44 39.70 45.13
Price-to-Sales (P/S) Ratio
 15.82 8.68 12.13 8.59 8.76
Price-to-Book (P/B) Ratio
 114.59 47.68 48.35 -98.34 -137.40
Price-to-Free Cash Flow (P/FCF) Ratio
 46.18 26.51 38.43 26.32 26.69
Price-to-Operating Cash Flow Ratio
 40.44 22.78 31.98 23.55 22.36
Price-to-Earnings Growth (PEG) Ratio
 10.37 4.64 0.75 1.10 0.98
Price-to-Fair Value
 114.59 47.68 48.35 -98.34 -137.40
Enterprise Value Multiple
 41.18 23.33 31.95 30.76 35.26
Enterprise Value
 103.88B 57.51B 70.34B 45.17B 38.00B
EV to EBITDA
 38.63 23.33 31.95 30.76 35.26
EV to Sales
 14.61 8.46 11.81 8.51 8.60
EV to Free Cash Flow
 42.65 25.84 37.43 26.09 26.22
EV to Operating Cash Flow
 37.04 22.20 31.15 23.34 21.96
Tangible Book Value Per Share
 0.87 1.19 1.50 -0.80 -0.59
Shareholders’ Equity Per Share
 1.34 1.67 1.95 -0.60 -0.36
Tax and Other Ratios
Effective Tax Rate
 0.19 0.19 0.14 0.11 0.03
Revenue Per Share
 9.62 9.15 7.79 6.81 5.58
Net Income Per Share
 2.65 2.49 2.28 1.47 1.08
Tax Burden
 0.81 0.81 0.86 0.89 0.97
Interest Burden
 0.99 0.99 0.98 0.95 0.91
Research & Development to Revenue
 0.12 0.12 0.12 0.12 0.12
SG&A to Revenue
 0.38 0.38 0.38 0.04 0.04
Stock-Based Compensation to Revenue
 0.04 0.04 0.04 0.05 0.05
Income Quality
 1.43 1.40 1.29 1.69 2.02
Currency in USD