Fortinet (1FTNT) Ratios
Fortinet Ratios
IT:1FTNT's free cash flow for Q3 2026 was $881.80M. For the 2026 fiscal year, IT:1FTNT's free cash flow was decreased by $-64.20M and operating cash flow was $946.00M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 1.17 | 1.47 | 1.19 | 1.24 | 1.55 |
| Quick Ratio | 1.09 | 1.39 | 1.06 | 1.15 | 1.48 |
| Cash Ratio | 0.50 | 0.71 | 0.38 | 0.55 | 0.57 |
| Solvency Ratio | 0.22 | 0.23 | 0.16 | 0.15 | 0.13 |
| Operating Cash Flow Ratio | 0.51 | 0.56 | 0.52 | 0.56 | 0.65 |
| Short-Term Operating Cash Flow Coverage | 5.18 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Current Asset Value | $ -3.25B | $ -2.30B | $ -3.29B | $ -2.70B | $ -1.52B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.10 | 0.10 | 0.14 | 0.16 | 0.17 |
| Debt-to-Equity Ratio | 0.81 | 0.67 | -2.14 | -3.52 | 1.26 |
| Debt-to-Capital Ratio | 0.45 | 0.40 | 1.88 | 1.40 | 0.56 |
| Long-Term Debt-to-Capital Ratio | 0.29 | 0.40 | 1.88 | 1.40 | 0.56 |
| Financial Leverage Ratio | 8.40 | 6.54 | -15.66 | -22.12 | 7.57 |
| Debt Service Coverage Ratio | 3.90 | 95.87 | 63.06 | 58.17 | 47.89 |
| Interest Coverage Ratio | 103.58 | 90.17 | 59.10 | 53.87 | 43.65 |
| Debt to Market Cap | 0.02 | 0.01 | 0.02 | 0.03 | 0.02 |
| Interest Debt Per Share | 1.37 | 1.33 | 1.30 | 1.27 | 1.23 |
| Net Debt to EBITDA | -0.61 | -0.85 | -0.28 | -0.64 | -0.45 |
| Profitability Margins | |||||
| Gross Profit Margin | 80.84% | 80.56% | 76.68% | 75.44% | 76.57% |
| EBIT Margin | 34.01% | 34.90% | 25.54% | 22.04% | 19.25% |
| EBITDA Margin | 36.25% | 36.96% | 27.67% | 24.40% | 21.77% |
| Operating Profit Margin | 30.62% | 30.28% | 23.40% | 21.95% | 19.46% |
| Pretax Profit Margin | 33.72% | 34.07% | 24.35% | 20.09% | 18.57% |
| Net Profit Margin | 27.26% | 29.30% | 21.64% | 19.41% | 18.16% |
| Continuous Operations Profit Margin | 27.26% | 29.30% | 21.64% | 19.39% | 18.15% |
| Net Income Per EBT | 80.85% | 86.01% | 88.87% | 96.61% | 97.74% |
| EBT Per EBIT | 110.11% | 112.52% | 104.07% | 91.52% | 95.45% |
| Return on Assets (ROA) | 17.84% | 17.88% | 15.81% | 13.77% | 10.25% |
| Return on Equity (ROE) | 149.77% | 116.83% | -247.69% | -304.44% | 77.63% |
| Return on Capital Employed (ROCE) | 38.88% | 31.63% | 35.06% | 30.78% | 18.06% |
| Return on Invested Capital (ROIC) | 28.75% | 27.20% | 31.16% | 29.72% | 17.65% |
| Return on Tangible Assets | 18.47% | 18.54% | 16.17% | 14.18% | 10.59% |
| Earnings Yield | 3.14% | 2.42% | 2.52% | 2.22% | 1.03% |
| Efficiency Ratios | |||||
| Receivables Turnover | 4.02 | 4.07 | 3.78 | 3.50 | 4.14 |
| Payables Turnover | 5.64 | 6.06 | 6.06 | 4.46 | 5.28 |
| Inventory Turnover | 3.26 | 3.67 | 2.55 | 4.10 | 4.45 |
| Fixed Asset Turnover | 4.20 | 4.41 | 5.08 | 4.92 | 4.86 |
| Asset Turnover | 0.65 | 0.61 | 0.73 | 0.71 | 0.56 |
| Working Capital Turnover Ratio | 4.90 | 4.55 | 7.36 | 4.39 | 3.05 |
| Cash Conversion Cycle | 138.05 | 128.97 | 179.22 | 111.38 | 100.98 |
| Days of Sales Outstanding | 90.78 | 89.68 | 96.47 | 104.25 | 88.21 |
| Days of Inventory Outstanding | 111.94 | 99.48 | 143.03 | 89.02 | 81.95 |
| Days of Payables Outstanding | 64.67 | 60.19 | 60.27 | 81.89 | 69.18 |
| Operating Cycle | 202.73 | 189.16 | 239.49 | 193.27 | 170.16 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 3.49 | 2.95 | 2.49 | 2.19 | 1.84 |
| Free Cash Flow Per Share | 3.00 | 2.46 | 2.22 | 1.83 | 1.48 |
| Dividend Paid and CapEx Coverage Ratio | 7.10 | 5.96 | 9.48 | 6.15 | 5.07 |
| Capital Expenditure Coverage Ratio | 7.10 | 5.96 | 9.48 | 6.15 | 5.07 |
| Operating Cash Flow Coverage Ratio | 2.60 | 2.27 | 1.95 | 1.75 | 1.52 |
| Operating Cash Flow to Sales Ratio | 0.38 | 0.38 | 0.36 | 0.39 | 0.45 |
| Free Cash Flow Yield | 3.77% | 2.60% | 3.80% | 3.75% | 2.05% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 32.55 | 41.44 | 39.70 | 45.13 | 96.66 |
| Price-to-Sales (P/S) Ratio | 8.68 | 12.13 | 8.59 | 8.76 | 17.55 |
| Price-to-Book (P/B) Ratio | 47.68 | 48.35 | -98.34 | -137.40 | 75.03 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 26.51 | 38.43 | 26.32 | 26.69 | 48.72 |
| Price-to-Operating Cash Flow Ratio | 22.78 | 31.98 | 23.55 | 22.36 | 39.11 |
| Price-to-Earnings Growth (PEG) Ratio | 4.64 | 0.75 | 1.10 | 0.98 | 4.14 |
| Enterprise Value Multiple | 23.33 | 31.95 | 30.76 | 35.26 | 80.15 |
| Enterprise Value | 57.51B | 70.34B | 45.17B | 38.00B | 58.32B |
| EV to EBITDA | 23.33 | 31.95 | 30.76 | 35.26 | 80.15 |
| EV to Sales | 8.46 | 11.81 | 8.51 | 8.60 | 17.45 |
| EV to Free Cash Flow | 25.84 | 37.43 | 26.09 | 26.22 | 48.45 |
| EV to Operating Cash Flow | 22.20 | 31.15 | 23.34 | 21.96 | 38.89 |
| Tangible Book Value Per Share | 1.19 | 1.50 | -0.80 | -0.59 | 0.75 |
| Shareholders’ Equity Per Share | 1.67 | 1.95 | -0.60 | -0.36 | 0.96 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.19 | 0.14 | 0.11 | 0.03 | 0.02 |
| Revenue Per Share | 9.15 | 7.79 | 6.81 | 5.58 | 4.10 |
| Net Income Per Share | 2.49 | 2.28 | 1.47 | 1.08 | 0.74 |
| Tax Burden | 0.81 | 0.86 | 0.89 | 0.97 | 0.98 |
| Interest Burden | 0.99 | 0.98 | 0.95 | 0.91 | 0.97 |
| Research & Development to Revenue | 0.12 | 0.12 | 0.12 | 0.12 | 0.13 |
| SG&A to Revenue | 0.38 | 0.38 | 0.04 | 0.04 | 0.04 |
| Stock-Based Compensation to Revenue | 0.04 | 0.04 | 0.05 | 0.05 | 0.06 |
| Income Quality | 1.40 | 1.29 | 1.69 | 2.02 | 2.47 |
Currency in USD
