Fortinet Inc (FTNT)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	992,300	991,800	991,300	990,900	990,400	989,900	989,400	988,900	988,400	988,000	987,500	987,000	0	—	—	—	—	—	—	—
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
Debt-to-assets ratio		0.14	0.13	0.13	0.15	0.16	0.19	0.19	0.17	0.17	0.17	0.18	0.19	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $992,300K ÷ $7,258,900K
= 0.14

Fortinet Inc's debt-to-assets ratio has shown a fluctuating trend over the past eight quarters. The ratio decreased from 0.17 in Q1 2022 to 0.13 in Q3 2023, indicating a reduction in the proportion of debt relative to total assets. However, there was a slight increase in the ratio in Q4 2023 to 0.14.

Overall, the company has been able to maintain a relatively low debt-to-assets ratio, which suggests a conservative approach to debt management. A lower ratio indicates that Fortinet Inc relies less on debt financing to support its operations and growth, which can be viewed positively by investors and creditors.

It is important to continue monitoring this ratio in future periods to assess the company's ability to handle its debt obligations and its overall financial health.