Fortinet Inc (FTNT)

Fixed asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	5,955,800	5,710,800	5,537,300	5,395,800	5,304,800	5,172,700	4,987,600	4,724,900	4,417,400	4,098,000	3,815,700	3,586,700	3,342,200	3,126,600	2,910,500	2,724,900	2,591,500	2,457,900	2,354,300	2,260,500
Property, plant and equipment	US$ in thousands	—	—	—	—	—	1,038,000	981,900	917,400	898,500	889,500	814,600	786,500	687,600	556,600	506,500	494,200	448,000	419,400	392,600	374,200
Fixed asset turnover		—	—	—	—	—	4.98	5.08	5.15	4.92	4.61	4.68	4.56	4.86	5.62	5.75	5.51	5.78	5.86	6.00	6.04

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $5,955,800K ÷ $—K
= —

Fortinet Inc's fixed asset turnover ratio has shown a decreasing trend over the period from March 31, 2020, to December 31, 2023. The ratio declined from 6.04 in March 2020 to 4.98 in September 2023, indicating that the company's efficiency in generating revenue from its fixed assets has decreased over time.

The drop in fixed asset turnover may suggest inefficiencies in asset utilization or a decrease in sales generated by the fixed assets. It is important for Fortinet Inc to closely monitor this trend and investigate the underlying reasons for the decline in order to take corrective actions if necessary.

Furthermore, the absence of data for the fixed asset turnover ratio from December 31, 2023, to December 31, 2024, makes it difficult to assess the recent performance of the company in this aspect. Monitoring the fixed asset turnover ratio in future periods will be crucial for Fortinet Inc to ensure efficient utilization of its fixed assets and maximize revenue generation.