Fortinet Inc (FTNT)

Financial leverage ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Total assets	US$ in thousands	9,763,100	7,258,900	6,228,000	5,919,100	4,044,500
Total stockholders’ equity	US$ in thousands	1,493,800	-463,400	-281,600	781,700	856,000
Financial leverage ratio		6.54	—	—	7.57	4.72

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $9,763,100K ÷ $1,493,800K
= 6.54

The financial leverage ratio of Fortinet Inc has shown fluctuations over the years.

As of December 31, 2020, the financial leverage ratio was 4.72, indicating that the company had a moderate level of financial leverage at that time.

By December 31, 2021, the financial leverage ratio increased to 7.57, suggesting a higher level of financial leverage. This significant increase in leverage may be due to changes in the company's capital structure or debt levels.

There is no available data for the financial leverage ratio for the years 2022 and 2023. This lack of information makes it difficult to assess the company's leverage position during those years.

By December 31, 2024, the financial leverage ratio decreased to 6.54, which is lower compared to 2021. This reduction in the leverage ratio may indicate that the company has been managing its debt more effectively or optimizing its capital structure.

Overall, fluctuations in the financial leverage ratio of Fortinet Inc reflect changes in the company's debt levels and capital structure over the years, highlighting the importance of closely monitoring and managing financial leverage for sustainable business operations.