Fortinet Inc (FTNT)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	1,147,800	1,150,700	1,059,400	966,600	857,300	742,500	674,000	638,000	606,800	554,500	514,800	491,100	488,500	460,000	416,800	375,700	329,900	397,000	375,500	352,100
Total assets	US$ in thousands	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	3,879,200	3,545,600	3,369,400	3,205,700
ROA		15.81%	15.39%	14.15%	14.15%	13.77%	13.92%	12.73%	11.29%	10.25%	9.29%	9.26%	9.30%	12.08%	12.83%	12.51%	11.72%	8.50%	11.20%	11.14%	10.98%

December 31, 2023 calculation

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

The return on assets (ROA) for Fortinet Inc has shown a consistent increasing trend over the past eight quarters. The ROA increased from 11.29% in Q1 2022 to 15.81% in Q4 2023, indicating that the company has been effectively utilizing its assets to generate profits. This improvement signifies the company's ability to efficiently deploy its resources to generate earnings. The steady and positive trajectory of the ROA suggests that Fortinet Inc has been successful in managing its assets efficiently and maximizing returns for its shareholders. Overall, the upward trend in ROA reflects positively on the company's operational performance and financial health.