Fortinet Inc (FTNT)

Receivables turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	5,240,800	5,073,600	4,894,300	4,628,200	4,328,000	4,044,600	3,755,900	3,535,000	3,309,700	3,108,300	2,900,500	2,719,400	2,586,000	2,453,200	2,349,600	2,255,800	2,151,500	2,040,600	1,947,000	1,866,600
Receivables	US$ in thousands	1,402,000	1,013,800	1,078,800	1,087,200	1,261,700	963,200	919,500	790,400	807,700	604,900	584,600	637,300	720,000	546,600	498,700	474,700	544,300	384,100	403,100	381,000
Receivables turnover		3.74	5.00	4.54	4.26	3.43	4.20	4.08	4.47	4.10	5.14	4.96	4.27	3.59	4.49	4.71	4.75	3.95	5.31	4.83	4.90

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $5,240,800K ÷ $1,402,000K
= 3.74

The receivables turnover ratio for Fortinet Inc has exhibited some fluctuations over the past 8 quarters, ranging from a low of 3.50 in Q4 2022 to a high of 5.10 in Q3 2023. On average, Fortinet Inc collects its accounts receivable approximately 4 times a year. A higher receivables turnover ratio suggests that the company is efficient in collecting payments from its customers, while a lower ratio may indicate potential issues with collecting outstanding debts. It is essential for Fortinet Inc to closely monitor and manage its receivables turnover to ensure that it is maintaining a healthy cash flow and minimizing the risk of bad debt.