Fortinet Inc (FTNT)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,147,800	857,300	606,800	488,500	331,700
Total assets	US$ in thousands	7,258,900	6,228,000	5,919,100	4,044,500	3,879,200
ROA		15.81%	13.77%	10.25%	12.08%	8.55%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $1,147,800K ÷ $7,258,900K
= 15.81%

Fortinet Inc's return on assets (ROA) has shown a positive trend over the five-year period analyzed. The company's ROA increased from 8.40% in 2019 to 15.81% in 2023, indicating an improvement in utilizing its assets to generate profits. This demonstrates effective management of the company's assets to generate earnings for shareholders.

The ROA fluctuated during the period, with slight decreases in 2021 and 2022 followed by a significant increase in 2023. Despite the fluctuations, the overall trend shows that Fortinet Inc has been able to increase the efficiency of its asset utilization over the years.

The 15.81% ROA in 2023 signifies that the company generated $0.1581 in net income for every dollar of assets held during the year. This indicates a strong performance in maximizing profitability relative to the assets employed by the company.

In conclusion, Fortinet Inc's ROA performance indicates an improving trend and effective management of assets to generate profits, which is a positive sign for the company's financial health and operational efficiency.