Fortinet Inc (FTNT)
Return on total capital
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 2,271,100 | 2,270,200 | 2,300,800 | 2,252,200 | 2,078,500 | 1,876,200 | 1,578,000 | 1,409,100 | 1,354,700 | 1,306,400 | 1,242,400 | 1,126,400 | 973,500 | 812,600 | 704,700 | 665,800 | 643,300 | 600,900 | 568,000 | 542,200 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,237,500 | 735,100 | 2,060,400 | 1,962,900 | 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 |
| Return on total capital | 183.52% | 308.83% | 111.67% | 114.74% | 139.14% | 206.61% | 547.54% | — | — | 1,763.02% | 386.80% | 9,880.70% | — | — | — | 305.83% | 82.29% | 53.74% | 54.08% | 55.28% |
December 31, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,271,100K ÷ ($—K + $1,237,500K)
= 183.52%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
Fortinet Inc
FTNT
183.52%
A10 Network
ATEN
24.78%
Calix Inc
CALX
1.70%
CSG Systems International Inc
CSGS
99.13%
F5 Networks Inc
FFIV
21.90%
Nutanix Inc
NTNX
—
Palantir Technologies Inc.
PLTR
19.14%
Palo Alto Networks Inc
PANW
12.85%
Progress Software Corporation
PRGS
32.05%
Qualys Inc
QLYS
41.15%
Synopsys Inc
SNPS
6.49%