Stock Analysis on Net
Stock Analysis on Net

Fortinet Inc. (NASDAQ:FTNT)

This company has been moved to the archive! The financial data has not been updated since May 8, 2023.

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Fortinet Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Cash and cash equivalents 2,304,200 1,682,900 964,000 710,000 923,500 1,319,100 1,852,100 1,879,300 1,860,200 1,061,800 882,300 916,400 626,100 1,222,500 1,175,500 1,022,100 1,216,900 1,112,400 1,169,300 972,100 835,600
Short-term investments 548,800 502,600 739,500 1,020,600 1,185,700 1,194,000 1,228,100 1,233,900 1,076,700 775,500 774,400 610,500 775,200 843,100 764,800 808,100 584,900 537,200 464,900 461,600 468,300
Marketable equity securities 26,100 25,500 26,900 24,300 32,400 38,600 40,800 — — — — — — — — — — — — — —
Accounts receivable, net 1,087,200 1,261,700 963,200 919,500 790,400 807,700 604,900 584,600 637,300 720,000 546,600 498,700 474,700 544,300 384,100 403,100 381,000 444,500 324,400 333,600 313,100
Inventory 302,700 264,600 215,800 195,200 184,600 175,800 177,900 149,800 149,600 139,800 134,500 126,000 105,000 117,900 99,200 85,700 88,400 90,000 80,800 78,200 80,000
Prepaid expenses and other current assets 89,700 73,100 72,800 83,300 91,700 65,400 59,700 60,600 57,400 43,300 46,800 57,100 54,300 41,200 42,600 41,700 42,100 36,800 38,700 39,300 38,800
Current assets 4,358,700 3,810,400 2,982,200 2,952,900 3,208,300 3,600,600 3,963,500 3,908,200 3,781,200 2,740,400 2,384,600 2,208,700 2,035,300 2,769,000 2,466,200 2,360,700 2,313,300 2,220,900 2,078,100 1,884,800 1,735,800
Long-term investments 15,600 45,500 84,000 188,500 360,800 440,800 298,200 246,600 151,100 118,300 117,900 100,400 172,000 144,300 204,200 149,500 50,200 67,000 38,600 65,300 82,500
Property and equipment, net 917,400 898,500 889,500 814,600 786,500 687,600 556,600 506,500 494,200 448,000 419,400 392,600 374,200 344,300 305,500 284,700 272,000 271,400 265,400 256,000 245,100
Deferred contract costs 536,900 518,200 480,500 456,900 437,500 423,300 378,800 347,800 320,200 304,800 281,100 263,500 248,700 237,000 217,400 204,100 190,500 182,600 169,600 160,600 148,700
Deferred tax assets 649,600 569,400 515,500 480,200 431,700 342,300 337,300 271,200 260,600 245,200 230,100 218,900 226,500 232,600 243,700 258,800 262,700 255,000 147,800 141,900 138,700
Goodwill 127,800 128,000 120,200 121,300 123,800 125,100 127,600 99,200 99,200 93,000 68,200 67,200 67,200 67,200 38,200 38,200 38,200 38,200 25,700 25,100 14,600
Other intangible assets, net 51,100 56,000 38,800 45,400 55,100 63,600 71,000 28,700 32,300 31,600 25,300 23,400 27,100 31,100 14,000 16,200 19,100 22,100 18,100 21,400 14,500
Other assets 175,200 202,000 225,200 234,700 247,400 235,800 237,600 150,700 143,400 63,200 59,600 55,900 55,200 60,000 56,400 57,200 59,700 20,800 20,200 20,600 20,800
Non-current assets 2,473,600 2,417,600 2,353,700 2,341,600 2,442,800 2,318,500 2,007,100 1,650,700 1,501,000 1,304,100 1,201,600 1,121,900 1,170,900 1,116,500 1,079,400 1,008,700 892,400 857,100 685,400 690,900 664,900
Total assets 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 3,885,500 3,545,600 3,369,400 3,205,700 3,078,000 2,763,500 2,575,700 2,400,700

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Fortinet Inc. current assets increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Fortinet Inc. property and equipment, net increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Fortinet Inc. non-current assets increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Fortinet Inc. total assets increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Fortinet Inc. cash and cash equivalents increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.
Marketable equity securities Amount of investment in marketable security, classified as current. Fortinet Inc. marketable equity securities decreased from Q3 2022 to Q4 2022 but then slightly increased from Q4 2022 to Q1 2023.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Fortinet Inc. accounts receivable, net increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023 not reaching Q3 2022 level.
Inventory Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Fortinet Inc. inventory increased from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.