Fortinet Balance Sheet Health
Financial Health criteria checks 5/6
Fortinet has a total shareholder equity of $288.2M and total debt of $993.3M, which brings its debt-to-equity ratio to 344.7%. Its total assets and total liabilities are $8.1B and $7.8B respectively. Fortinet's EBIT is $1.4B making its interest coverage ratio -12.3. It has cash and short-term investments of $3.3B.
Key information
344.7%
Debt to equity ratio
US$993.30m
Debt
| Interest coverage ratio | -12.3x |
| Cash | US$3.34b |
| Equity | US$288.20m |
| Total liabilities | US$7.76b |
| Total assets | US$8.05b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: FTNT *'s short term assets ($4.9B) exceed its short term liabilities ($3.7B).
Long Term Liabilities: FTNT *'s short term assets ($4.9B) exceed its long term liabilities ($4.0B).
Debt to Equity History and Analysis
Debt Level: FTNT * has more cash than its total debt.
Reducing Debt: FTNT *'s debt to equity ratio has increased from 0% to 344.7% over the past 5 years.
Debt Coverage: FTNT *'s debt is well covered by operating cash flow (192.8%).
Interest Coverage: FTNT * earns more interest than it pays, so coverage of interest payments is not a concern.