Fortinet Inc (FTNT)

Current ratio

		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
Total current assets	US$ in thousands	4,428,300	4,752,700	4,878,100	4,358,700	3,810,400	2,982,200	2,952,900	3,208,300	3,600,600	3,963,500	3,908,200	3,781,200	2,740,400	2,384,600	2,208,700	2,035,300	2,769,000	2,466,200	2,360,700	2,313,300
Total current liabilities	US$ in thousands	3,719,000	3,649,000	3,500,600	3,261,800	3,078,400	2,779,600	2,634,900	2,510,500	2,318,100	2,198,000	1,998,500	1,879,700	1,829,500	1,645,600	1,611,900	1,543,000	1,455,800	1,341,900	1,293,700	1,254,300
Current ratio		1.19	1.30	1.39	1.34	1.24	1.07	1.12	1.28	1.55	1.80	1.96	2.01	1.50	1.45	1.37	1.32	1.90	1.84	1.82	1.84

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $4,428,300K ÷ $3,719,000K
= 1.19

The current ratio for Fortinet Inc has exhibited fluctuating trends over the past eight quarters. From Q1 2022 to Q3 2022, the current ratio displayed a generally increasing pattern, indicating the company's improved short-term liquidity position. However, in Q4 2022, there was a noticeable decline in the current ratio to 1.24, suggesting a potential tightening of liquidity.

In the first three quarters of 2023, the current ratio continued to fluctuate without a clear trend. Q2 2023 recorded the highest current ratio of 1.39, indicating a strong short-term liquidity position at that point. However, the ratio declined in Q3 2023 and further decreased in Q4 2023 to 1.19, which is the lowest ratio in the provided data.

Overall, the varying current ratios imply that Fortinet Inc's liquidity position has been subject to fluctuations, with some quarters indicating stronger ability to meet short-term obligations than others. It is important for stakeholders to closely monitor these fluctuations to assess the company's financial health and ability to manage its short-term obligations effectively.