Fortinet Inc (FTNT)

Total 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
Total assets	US$ in thousands	9,763,100	8,852,000	8,052,900	7,662,100	7,258,900	7,479,300	7,486,100	6,832,300	6,228,000	5,335,900	5,294,500	5,651,100	5,919,100	5,970,600	5,558,900	5,282,200	4,044,500	3,586,200	3,330,600	3,206,200
Total asset turnover		0.61	0.65	0.69	0.70	0.73	0.69	0.67	0.69	0.71	0.77	0.72	0.63	0.56	0.52	0.52	0.52	0.64	0.69	0.71	0.71

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $5,955,800K ÷ $9,763,100K
= 0.61

The total asset turnover ratio of Fortinet Inc has fluctuated over the years, indicating changes in the company's efficiency in generating sales from its total assets. The ratio ranged from 0.52 to 0.77 during the period from March 31, 2020, to December 31, 2024.

The ratio was relatively stable around 0.71 in the first few quarters, showing consistent revenue generation from its assets. However, there was a noticeable decline in the ratio in the subsequent periods, reaching a low of 0.52 in March 31, 2021, and June 30, 2021.

Fortinet Inc then saw an improvement in its total asset turnover, with the ratio increasing to 0.77 by September 30, 2022. This indicates that the company became more effective in utilizing its assets to generate sales. Subsequently, the ratio decreased slightly but remained above 0.65 until December 31, 2024.

Overall, the fluctuations in Fortinet Inc's total asset turnover ratio suggest variations in the company's ability to generate revenues in relation to its total asset base. Investors and analysts may further investigate the factors influencing these changes to gain deeper insights into the company's operational efficiency and financial performance.