Fortinet Inc (FTNT)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 992,300 | 990,400 | 988,400 | 0 | — |
| Total assets | US$ in thousands | 7,258,900 | 6,228,000 | 5,919,100 | 4,044,500 | 3,879,200 |
| Debt-to-assets ratio | 0.14 | 0.16 | 0.17 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $992,300K ÷ $7,258,900K
= 0.14
The debt-to-assets ratio for Fortinet Inc has shown a decreasing trend from 0.17 in 2021 to 0.14 in 2023. This indicates that the company has been gradually reducing its reliance on debt to finance its assets over the years. The significant decrease in the ratio from 0.17 in 2021 to 0.14 in 2023 suggests that Fortinet Inc has improved its debt management and financial health by either paying down debt or increasing its asset base. Additionally, it is noteworthy that in 2020 and 2019, the company had a debt-to-assets ratio of 0.00, indicating a debt-free position or very minimal debt relative to its total assets during those years. Overall, the decreasing trend in the debt-to-assets ratio reflects positively on Fortinet Inc's financial stability and ability to manage its debt obligations effectively.
Peer comparison
Dec 31, 2023