Fortinet, Inc. (FTNT)

Fortinet Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Period Ending	Mar 31, 2024	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
Cash & Equivalents	1,926	1,398	2,187	2,376	2,304	1,683	964	710	923.5	1,319	1,852	1,879	1,860	1,062	882.3	916.4	626.1	1,223	1,176	1,022
Short-Term Investments	1,097	1,043	982	937.2	574.9	528.1	766.4	1,045	1,218	1,233	1,269	1,234	1,077	775.5	774.4	610.5	775.2	843.1	764.8	808.1
Cash & Short-Term Investments	3,023	2,440	3,169	3,314	2,879	2,211	1,730	1,755	2,142	2,552	3,121	3,113	2,937	1,837	1,657	1,527	1,401	2,066	1,940	1,830
Cash Growth	5.00%	10.38%	83.13%	88.81%	34.44%	-13.35%	-44.56%	-43.63%	-27.08%	38.88%	88.39%	103.89%	109.58%	-11.05%	-14.62%	-16.57%	-22.23%	25.22%	18.73%	27.66%
Receivables	996.2	1,402	1,014	1,079	1,087	1,262	963.2	919.5	790.4	807.7	607.3	587.8	639.9	720	549.8	502.4	479.4	544.3	384.1	403.1
Inventory	439.5	484.8	467.5	376.3	302.7	264.6	215.8	195.2	184.6	175.8	177.9	149.8	149.6	139.8	134.5	126	105	117.9	99.2	85.7
Prepaid Expenses	100.9	101.1	102.6	109.5	89.7	73.1	72.8	83.3	91.7	65.4	57.3	57.4	54.8	43.3	43.6	53.4	49.6	41.2	42.6	41.7
Total Current Assets	4,560	4,428	4,753	4,878	4,359	3,810	2,982	2,953	3,208	3,601	3,964	3,908	3,781	2,740	2,385	2,209	2,035	2,769	2,466	2,361
Property, Plant & Equipment	1,247	1,120	1,038	981.9	917.4	994.8	889.5	814.6	786.5	752.7	620.2	566.2	548.1	497.3	465	434.7	416.9	388.6	346.5	322
Long-Term Investments	35.8	50.7	1.5	4.2	15.6	129.8	84	188.5	360.8	440.8	299.2	247.6	152.1	118.3	118.9	101.4	173	149.6	209.5	158.6
Goodwill	129	126.5	125.4	126	127.8	128	120.2	121.3	123.8	125.1	127.6	99.2	99.2	93	68.2	67.2	67.2	67.2	38.2	38.2
Other Intangible Assets	34.1	35.3	39.6	44.6	51.1	56	38.8	45.4	55.1	63.6	71	28.7	32.3	31.6	25.3	23.4	27.1	31.1	14	16.2
Long-Term Deferred Tax Assets	942.5	868.8	788.5	729.2	649.6	569.4	515.5	480.2	431.7	342.3	337.3	271.2	260.6	245.2	230.1	218.9	226.5	226.3	243.7	258.8
Long-Term Deferred Charges	600	605.6	569.9	558.8	536.9	518.2	480.5	456.9	437.5	423.3	378.8	347.8	320.2	304.8	281.1	263.5	248.7	237	217.4	204.1
Other Long-Term Assets	113.6	23.3	163.7	163.3	175.2	21.4	225.2	234.7	247.4	170.7	173	90	88.5	13.9	13	12.8	11.5	10.4	10.1	10.8
Total Assets	7,662	7,259	7,479	7,486	6,832	6,228	5,336	5,295	5,651	5,919	5,971	5,559	5,282	4,045	3,586	3,331	3,206	3,879	3,546	3,369
Accounts Payable	135.2	204.3	253.9	238.3	238.4	243.4	215.1	193.1	174.7	148.4	142.3	132	129.5	141.6	95.9	107.2	87.8	96.4	85.9	72.4
Accrued Expenses	638.2	547.9	527.7	491.6	560.1	452.5	435.5	428.6	438.4	366	397	310.6	264.5	276	232.5	213.2	210.2	184	166.9	163.1
Current Portion of Long-Term Debt	-	-	-	-	-	-	-	-	-	-	17.6	-	-	-	-	-	-	-	-	-
Current Portion of Leases	-	33.4	-	-	-	33.2	-	-	-	26.3	25	22.9	20.6	19.1	17.2	15.7	14.8	15.5	13.9	11.7
Current Income Taxes Payable	-	-	220.1	183	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.6	15
Current Unearned Revenue	2,912	2,849	2,647	2,588	2,463	2,349	2,129	2,013	1,893	1,777	1,616	1,533	1,465	1,393	1,300	1,276	1,230	1,156	1,064	1,032
Other Current Liabilities	115	84.7	-	-	-	-	-	-	4.1	-	-	-	-	-	-	-	-	4.1	-	-
Total Current Liabilities	3,800	3,719	3,649	3,501	3,262	3,078	2,780	2,635	2,511	2,318	2,198	1,999	1,880	1,830	1,646	1,612	1,543	1,456	1,342	1,294
Long-Term Debt	992.8	992.3	991.8	991.3	990.9	990.4	989.9	989.4	988.9	988.4	988	987.5	987	-	-	-	-	-	-	-
Long-Term Leases	89.8	45.7	64.6	73	80.1	62.5	-	-	-	40.5	40.5	39.4	35.8	34	31	27.6	28.3	30.6	27.7	25.8
Long-Term Unearned Revenue	2,878	2,886	2,638	2,541	2,418	2,291	2,065	1,919	1,765	1,676	1,490	1,372	1,281	1,213	1,092	1,047	996.6	953.3	882	835
Other Long-Term Liabilities	38.7	79	61.8	59.1	70.5	87.3	124.7	131	153.9	98.2	118.2	110.9	118.4	112.5	104.4	100.2	102	97.1	93.6	92.6
Total Liabilities	7,800	7,722	7,405	7,165	6,821	6,510	5,959	5,674	5,418	5,121	4,835	4,509	4,301	3,189	2,873	2,787	2,670	2,537	2,345	2,247
Common Stock	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.8	0.2	0.8	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
Additional Paid-In Capital	1,449	1,416	1,397	1,376	1,327	1,284	1,250	1,237	1,236	1,254	1,258	1,246	1,225	1,207	1,179	1,154	1,128	1,180	1,153	1,130
Retained Earnings	-1,562.4	-1,861.7	-1,299.4	-1,032.4	-1,298.7	-1,546.4	-1,860.2	-1,607.6	-1,003.4	-467.9	-138.6	-195.7	-244.9	-352.1	-466.9	-613.1	-589.2	160.8	46.5	-9
Comprensive Income & Other	-24.8	-18.9	-24.3	-23.1	-18.1	-20.2	-25.5	-23.4	-15.4	-4.8	-1.2	-0.1	0.3	0.7	1.4	2.5	-3.1	1.1	1.1	0.9
Total Common Equity	-137.5	-463.4	74.1	321.2	11.4	-281.6	-634.7	-392.9	217.7	781.7	1,118	1,050	980.8	856	713.2	543.9	536.3	1,342	1,200	1,122
Minority Interest	-	-	-	-	-	-	11.9	13.3	15.5	16.7	17.5	-	-	-	-	-	-	-	-	-
Shareholders' Equity	-137.5	-463.4	74.1	321.2	11.4	-281.6	-622.8	-379.6	233.2	798.4	1,136	1,050	980.8	856	713.2	543.9	536.3	1,342	1,200	1,122
Total Liabilities & Equity	7,662	7,259	7,479	7,486	6,832	6,228	5,336	5,295	5,651	5,919	5,971	5,559	5,282	4,045	3,586	3,331	3,206	3,879	3,546	3,369
Total Debt	1,083	1,071	1,056	1,064	1,071	1,086	989.9	989.4	988.9	1,055	1,071	1,050	1,043	53.1	48.2	43.3	43.1	46.1	41.6	37.5
Net Cash (Debt)	1,941	1,369	2,112	2,249	1,808	1,125	740.5	765.5	1,153	1,497	2,050	2,063	1,894	1,784	1,609	1,484	1,358	2,020	1,899	1,793
Net Cash Growth	7.32%	21.70%	185.27%	193.82%	56.86%	-24.83%	-63.88%	-62.90%	-39.12%	-16.12%	27.44%	39.08%	39.41%	-11.65%	-15.28%	-17.24%	-22.93%	22.42%	16.19%	25.04%
Net Cash Per Share	2.48	1.74	2.66	2.83	2.26	1.40	0.91	0.93	1.38	1.79	2.46	2.48	2.28	2.13	1.89	1.72	1.55	2.31	2.17	2.04
Filing Date Shares Outstanding	763.94	763.03	767.91	785.34	785.2	784.07	781.24	788.52	802.64	804.08	817.5	816.6	816.59	815.95	811.66	809.16	808.24	862.57	855.17	854.96
Total Common Shares Outstanding	763.2	761	776.3	785.6	784.4	781.5	780.1	788.4	801.5	810	817	816.5	816.5	812.5	811.5	809	813	858.5	856.5	855
Working Capital	759.3	709.3	1,104	1,378	1,097	732	202.6	318	697.8	1,283	1,766	1,910	1,902	910.9	739	596.8	492.3	1,313	1,124	1,067
Book Value Per Share	-0.18	-0.61	0.10	0.41	0.01	-0.36	-0.81	-0.50	0.27	0.97	1.37	1.29	1.20	1.05	0.88	0.67	0.66	1.56	1.40	1.31
Tangible Book Value	-300.6	-625.2	-90.9	150.6	-167.5	-465.6	-793.7	-559.6	38.8	593	919.5	922.3	849.3	731.4	619.7	453.3	442	1,244	1,148	1,068
Tangible Book Value Per Share	-0.39	-0.82	-0.12	0.19	-0.21	-0.60	-1.02	-0.71	0.05	0.73	1.13	1.13	1.04	0.90	0.76	0.56	0.54	1.45	1.34	1.25
Land	453	351.7	351.7	330.1	323.6	310	305.7	253.4	250.4	204.5	128.3	106.8	106.8	93.3	93.3	93.3	93.3	93.3	75.7	75.7
Buildings	712.5	595.5	591.7	553.9	506.3	490.3	488.9	475.3	459.2	416.2	365.4	345.1	153.8	150.6	148.1	148	148	147.4	143.6	142.5
Machinery	300.8	294.7	282.8	270.3	262.2	254	250.5	238.2	216.5	203	193.4	180.4	168.5	158.5	151.5	145.6	139.9	134	130.3	119.9
Construction In Progress	56	63.3	55.8	64.7	46.9	51.7	38	27.5	31.3	19.9	16.9	10.6	193.4	166.4	140.8	114.1	90.7	61.2	44.4	28.7
Leasehold Improvements	66.7	61.4	60.6	55.6	55.4	53.5	49.7	48.8	41.8	40.1	38.8	35.3	33.6	31.9	30.3	26.7	26.8	25.5	20.1	19.5

Source: S&P Capital IQ. Standard template.