Fortinet Inc (FTNT)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 5,955,800 | 5,304,800 | 4,417,400 | 3,342,200 | 2,594,400 |
| Total assets | US$ in thousands | 9,763,100 | 7,258,900 | 6,228,000 | 5,919,100 | 4,044,500 |
| Total asset turnover | 0.61 | 0.73 | 0.71 | 0.56 | 0.64 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $5,955,800K ÷ $9,763,100K
= 0.61
Fortinet Inc's total asset turnover ratio has shown fluctuations over the years. In 2020, the total asset turnover was 0.64, indicating that the company generated $0.64 in sales for every dollar of assets. However, in 2021, this ratio decreased to 0.56, suggesting a decline in efficiency in utilizing assets to generate revenue.
The trend reversed in 2022 and 2023, with the total asset turnover improving to 0.71 and 0.73, respectively. This indicates that Fortinet Inc became more effective in generating sales relative to its asset base during these years.
However, in 2024, the total asset turnover ratio declined to 0.61, signaling a potential decrease in efficiency in asset utilization compared to the previous year. Overall, Fortinet Inc's total asset turnover has shown variability, and the company may need to focus on optimizing its asset utilization to enhance revenue generation efficiency in the future.
Peer comparison
Dec 31, 2024