Fortinet Inc (FTNT)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | -463,400 | -281,600 | 781,700 | 856,000 | 1,342,400 |
| Debt-to-equity ratio | — | — | 1.26 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $992,300K ÷ $-463,400K
= —
The debt-to-equity ratio of Fortinet Inc has shown significant fluctuations over the past five years. In 2019 and 2020, the company had a debt-to-equity ratio of 0.00, indicating that it had no debt and was primarily financed by equity during those years.
However, in 2021, the debt-to-equity ratio increased to 1.26, suggesting that Fortinet started utilizing debt as a source of financing. This increase in the ratio indicates a shift in the company's capital structure towards a higher level of debt relative to equity.
Unfortunately, the data for 2022 and 2023 is missing, so it is not possible to assess the trend or further analyze the company's debt-to-equity ratio in those years. It would be insightful to obtain the complete financial data to understand the company's leverage position and its impact on financial risk and stability.
Peer comparison
Dec 31, 2023