Fortinet Inc (FTNT)

Quick ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash	US$ in thousands	2,875,900	1,397,900	1,682,900	1,319,100	1,061,800
Short-term investments	US$ in thousands	1,190,600	1,042,500	528,100	1,232,600	775,500
Receivables	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	4,060,700	3,719,000	3,078,400	2,318,100	1,829,500
Quick ratio		1.00	0.66	0.72	1.10	1.00

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,875,900K + $1,190,600K + $—K) ÷ $4,060,700K
= 1.00

The quick ratio of Fortinet Inc has been fluctuating over the years. In December 31, 2020, the quick ratio was 1.00, indicating that the company had just enough liquid assets to cover its current liabilities. By December 31, 2021, the quick ratio improved to 1.10, demonstrating a stronger ability to meet short-term obligations. However, in December 31, 2022, the quick ratio decreased significantly to 0.72, suggesting potential liquidity challenges. This downward trend continued into December 31, 2023, with the quick ratio dropping further to 0.66. It is worth noting that by December 31, 2024, the quick ratio recovered back to 1.00, showing a return to a healthier liquidity position. Overall, Fortinet Inc's quick ratio has shown fluctuations, indicating varying levels of liquidity and ability to meet short-term obligations during the analyzed period.