Fortinet, Inc. (FTNT) financial statements (2022 and earlier)

Company profile

Business Address 899 KIFER ROAD
SUNNYVALE, CA 94086
State of Incorp.
Fiscal Year End December 31
SIC 3577 - Computer Peripheral Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,5521,8372,0661,6501,2511,086891
Cash and cash equivalents1,3191,0621,2231,112811709543
Short-term investments1,233776843537440377348
Receivables808720544445348313260
Inventory, net of allowances, customer advances and progress billings176140118907710784
Inventory176140118907710784
Other undisclosed current assets65434137403336
Total current assets:3,6012,7402,7692,2211,7171,5391,271
Noncurrent Assets
Operating lease, right-of-use asset654944
Property, plant and equipment68844834427124513791
Long-term investments and receivables4411181446798225273
Long-term investments4411181446798225273
Intangible assets, net (including goodwill)1891259860313922
Goodwill12593673815155
Intangible assets, net (excluding goodwill)64323122162518
Deferred income tax assets342245233
Other noncurrent assets236636021201714
Other undisclosed noncurrent assets358256193438147183119
Total noncurrent assets:2,3191,3041,117857541601520
TOTAL ASSETS:5,9194,0453,8863,0782,2582,1401,791
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities541437300291233184164
Accounts payable1481429686705762
Accrued liabilities1971499878503633
Employee-related liabilities19514610298927861
Taxes payable  42821148
Deferred revenue1,7771,3931,174
Deferred revenue and credits966794645515
Total current liabilities:2,3181,8301,4741,2561,027829679
Noncurrent Liabilities
Long-term debt and lease obligation988      
Long-term debt, excluding current maturities988      
Liabilities, other than long-term debt1,8141,3591,090811641473356
Deferred revenue and credits721542390277
Accounts payable and accrued liabilities80908378906961
Deferred revenue1,6761,213962
Other liabilities5956451391419
Total noncurrent liabilities:2,8031,3591,090811641473356
Total liabilities:5,1213,1892,5642,0681,6691,3021,035
Stockholders' equity
Stockholders' equity attributable to parent7828561,3221,010589838755
Common stock0000000
Additional paid in capital1,2541,2071,1801,068910801688
Accumulated other comprehensive income (loss)(5)11(1)(1)(1)(1)
Retained earnings (accumulated deficit)(468)(352)140(58)(320)3868
Stockholders' equity attributable to noncontrolling interest17      
Total stockholders' equity:7988561,3221,010589838755
TOTAL LIABILITIES AND EQUITY:5,9194,0453,8863,0782,2582,1401,791

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues3,3422,5942,1561,8011,4951,2751,009
Revenue, net1,8011,4951,2751,009
Cost of revenue
(Cost of Goods and Services Sold)
(783)(570)(506)(450)(385)(338)(287)
Gross profit:2,5592,0241,6501,3511,110938722
Operating expenses(1,909)(1,493)(1,306)(1,120)(1,000)(895)(708)
Operating income:6505323442311104315
Nonoperating income (expense)(7)1035201402
Investment income, nonoperating51843271375
Other nonoperating income (expense)(12)(8)(8)(7)1(7)(3)
Interest and debt expense(15)      
Income from continuing operations before equity method investments, income taxes:6285423792511244317
Loss from equity method investments(8)      
Income from continuing operations before income taxes:6215423792511244317
Income tax expense (benefit)(14)(53)(53)81(93)(11)(9)
Net income:60748932733231328
Other undisclosed net income attributable to parent0      
Net income available to common stockholders, diluted:60748932733231328

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:60748932733231328
Other comprehensive income (loss)(7)   (0)0(1)
Comprehensive income:60048932733231327
Comprehensive income, net of tax, attributable to noncontrolling interest1      
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (0)2 0(0)0
Comprehensive income, net of tax, attributable to parent:60148832933231327

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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