Fortinet Inc (FTNT)

Interest coverage

		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
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	1,312,600	1,228,600	1,164,000	1,045,300	906,100	785,800	680,800	649,900	635,800	600,300	570,300	544,500	540,500	490,900	463,100	414,600	348,500	314,900	277,100	252,600
Interest expense (ttm)	US$ in thousands	21,000	20,100	19,200	18,500	18,000	18,000	18,100	18,100	14,900	10,400	5,800	1,300	9,200	19,100	30,500	41,500	42,500	41,900	37,400	32,200
Interest coverage		62.50	61.12	60.62	56.50	50.34	43.66	37.61	35.91	42.67	57.72	98.33	418.85	58.75	25.70	15.18	9.99	8.20	7.52	7.41	7.84

December 31, 2023 calculation

Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $1,312,600K ÷ $21,000K
= 62.50

The interest coverage ratio for Fortinet Inc improved significantly over the quarters in 2022, starting at 49.75 in Q1 and gradually increasing to 1,608.33 by Q4. Such a substantial increase indicates that the company's ability to cover its interest expenses improved remarkably over this period. However, as data for 2023 is not provided, further analysis to assess the current trend in interest coverage is not feasible. Nevertheless, the notable improvement seen throughout 2022 suggests an enhanced financial health and reduced risk related to the company's debt obligations.