Dollar Amounts
USD (Millions)
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Assets | $4,045 | $5,919 | $6,228 | $7,259 | $9,763 |
| Liabilities | $3,189 | $5,121 | $6,510 | $7,722 | $8,269 |
| Equity | $856 | $782 | -$282 | -$463 | $1,494 |
Balance sheet data in USD (millions)
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Edwyn
Over the past five years, Fortinet, Inc. has shown significant growth in its total assets, increasing from $4.0 billion in 2020 to $9.8 billion in 2024. This indicates a strong expansion in the company's asset base, which could be attributed to strategic investments and acquisitions. However, the company also experienced a notable rise in total liabilities, from $3.2 billion in 2020 to $8.3 billion in 2024. This increase in liabilities outpaced the growth in assets, leading to fluctuations in stockholders' equity. One of the key highlights is the negative equity observed in 2022 and 2023, indicating that the company's liabilities exceeded its assets during these years. This could be a concerning trend as it suggests financial instability and potential solvency issues. It is essential for Fortinet, Inc. to closely monitor its debt levels and work towards improving its equity position to ensure long-term financial sustainability. In terms of industry context, the cybersecurity sector where Fortinet operates is known for its rapid growth and evolving landscape, which could have influenced the company's financial decisions and performance over this period.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.