Fortinet Inc (FTNT)
Return on total capital
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 1,960,400 | 1,771,700 | 1,473,500 | 1,341,900 | 1,317,900 | 1,306,400 | 1,242,400 | 1,126,400 | 973,500 | 812,600 | 704,700 | 665,800 | 642,000 | 598,400 | 562,900 | 529,000 | 488,700 | 438,900 | 413,100 | 372,700 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,493,800 | 908,100 | 288,200 | -137,500 | -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 | 543,900 | 536,300 |
| Return on total capital | 131.24% | 195.10% | 511.28% | — | — | 1,763.02% | 386.80% | 9,880.70% | — | — | — | 305.83% | 82.13% | 53.52% | 53.60% | 53.94% | 57.09% | 61.54% | 75.95% | 69.49% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,960,400K ÷ ($—K + $1,493,800K)
= 131.24%
Fortinet Inc's return on total capital has shown significant fluctuations over the provided periods. The ratio stood at 69.49% as of March 31, 2020, showing a strong return on the company's invested capital. Subsequently, the ratio improved to 75.95% by June 30, 2020, indicating efficient utilization of capital. However, there was a decline to 57.09% by December 31, 2020, and further to 53.94% by March 31, 2021, possibly reflecting challenges in generating returns on the total capital employed.
The return on total capital saw a remarkable increase to 305.83% by March 31, 2022, before there was no data available for the subsequent periods up to September 30, 2022. The ratio then notably decreased to 9,880.70% by March 31, 2023, which seems unusually high and may need to be verified for data accuracy. This was followed by a decrease to 386.80% by June 30, 2023, and a substantial increase to 1,763.02% by September 30, 2023.
There was no data available for the return on total capital for the periods ending December 31, 2023, March 31, 2024, and June 30, 2024. However, as of September 30, 2024, the return on total capital was 195.10%, indicating a strong return on the capital employed. Finally, by December 31, 2024, the ratio stood at 131.24%, indicating the company's ability to generate returns on its total capital, although slightly lower than the previous reported period.
Overall, the return on total capital for Fortinet Inc has shown fluctuations over the periods provided, with some exceptionally high values that may warrant further investigation for accuracy and consistency in reporting.
Peer comparison
Dec 31, 2024