Fortinet Inc (FTNT)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	-463,400	74,100	321,200	11,400	-281,600	-634,700	-392,900	217,700	781,700	1,118,100	1,050,200	980,800	856,000	713,200	566,700	557,400	1,342,400	1,217,900	1,139,400	1,058,100
ROE		—	1,552.90%	329.83%	8,478.95%	—	—	—	293.06%	77.63%	49.59%	49.02%	50.07%	57.07%	64.50%	73.55%	67.40%	24.58%	32.60%	32.96%	33.28%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,147,800K ÷ $-463,400K
= —

Based on the provided data for Fortinet Inc's return on equity (ROE), the company's performance exhibited significant fluctuations over the quarters. In Q1 2023, the ROE spiked to an impressive 8,478.95%, indicating a substantial return generated by the company's equity. This significant increase could be attributed to various factors such as efficient cost management, higher revenues, or effective asset utilization.

In contrast, in Q3 2023, the ROE decreased to 1,552.90%, indicating a decline in the return generated on equity compared to the previous quarter. This drop may be indicative of reduced profitability or higher equity levels during the period.

The ROE for Q2 2023 stood at 329.83%, reflecting a moderate return on equity relative to other quarters. This could suggest a relatively stable performance in generating returns on the shareholders' equity during the period.

Moreover, the available data does not include ROE figures for Q4 2022, Q3 2022, Q2 2022, and Q1 2022, making it difficult to draw a comprehensive trend analysis. However, the ROE in Q1 2022 was 293.06%, indicating a solid return on equity during that quarter.

Overall, the fluctuating ROE figures for Fortinet Inc highlight the company's varying performance in terms of generating returns on shareholders' equity over the reported quarters. Further analysis incorporating additional quarters would provide a more comprehensive understanding of the company's ROE trend and performance over time.