Fortinet Inc (FTNT) - Net Assets
Based on the latest financial reports, Fortinet Inc (FTNT) has net assets worth $1.24 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.39 Billion) and total liabilities ($9.15 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check FTNT cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.24 Billion |
| % of Total Assets | 11.91% |
| Annual Growth Rate | N/A |
| 5-Year Change | 55.0% |
| 10-Year Change | 47.73% |
| Growth Volatility | 50.6 |
Fortinet Inc - Net Assets Trend (2007–2025)
This chart illustrates how Fortinet Inc's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Fortinet Inc for the complete picture of this company's asset base.
Annual Net Assets for Fortinet Inc (2007–2025)
The table below shows the annual net assets of Fortinet Inc from 2007 to 2025. For live valuation and market cap data, see Fortinet Inc stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.24 Billion | -17.16% |
| 2024-12-31 | $1.49 Billion | +422.36% |
| 2023-12-31 | $-463.40 Million | -64.56% |
| 2022-12-31 | $-281.60 Million | -135.27% |
| 2021-12-31 | $798.40 Million | -6.73% |
| 2020-12-31 | $856.00 Million | -36.23% |
| 2019-12-31 | $1.34 Billion | +32.88% |
| 2018-12-31 | $1.01 Billion | +71.39% |
| 2017-12-31 | $589.40 Million | -29.64% |
| 2016-12-31 | $837.68 Million | +10.90% |
| 2015-12-31 | $755.38 Million | +11.75% |
| 2014-12-31 | $675.97 Million | +15.40% |
| 2013-12-31 | $585.76 Million | +14.64% |
| 2012-12-31 | $510.93 Million | +42.58% |
| 2011-12-31 | $358.35 Million | +54.16% |
| 2010-12-31 | $232.45 Million | +63.18% |
| 2009-12-31 | $142.45 Million | +2824.27% |
| 2008-12-31 | $-5.23 Million | +72.37% |
| 2007-12-31 | $-18.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Fortinet Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 38038600000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $700.00K | 0.06% |
| Other Comprehensive Income | $-25.40 Million | -2.05% |
| Other Components | $1.77 Billion | 143.04% |
| Total Equity | $1.24 Billion | 100.00% |
Fortinet Inc Competitors by Market Cap
The table below lists competitors of Fortinet Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Motorola Solutions Inc
NYSE:MSI
|
$61.87 Billion |
|
Atlas Copco AB Series A
ST:ATCO-A
|
$62.05 Billion |
|
NetEase Inc
F:NEH
|
$62.10 Billion |
|
Valero Energy Corporation
NYSE:VLO
|
$62.18 Billion |
|
Simon Property Group Inc
NYSE:SPG
|
$61.60 Billion |
|
Natwest Group PLC
NYSE:NWG
|
$61.48 Billion |
|
Marathon Petroleum Corp
NYSE:MPC
|
$61.10 Billion |
|
Imperial Oil Ltd
TO:IMO
|
$61.08 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Fortinet Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,493,800,000 to 1,237,500,000, a change of -256,300,000 (-17.2%).
- Net income of 1,853,400,000 contributed positively to equity growth.
- Share repurchases of 2,289,800,000 reduced equity.
- Other comprehensive income increased equity by 700,001.
- Other factors increased equity by 179,399,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.85 Billion | +149.77% |
| Share Repurchases | $2.29 Billion | -185.03% |
| Other Comprehensive Income | $700.00K | +0.06% |
| Other Changes | $179.40 Million | +14.5% |
| Total Change | $- | -17.16% |
Book Value vs Market Value Analysis
This analysis compares Fortinet Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 52.16x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $-0.03 | $86.29 | x |
| 2008-12-31 | $-0.01 | $86.29 | x |
| 2009-12-31 | $0.22 | $86.29 | x |
| 2010-12-31 | $0.30 | $86.29 | x |
| 2011-12-31 | $0.44 | $86.29 | x |
| 2012-12-31 | $0.61 | $86.29 | x |
| 2013-12-31 | $0.70 | $86.29 | x |
| 2014-12-31 | $0.80 | $86.29 | x |
| 2015-12-31 | $0.86 | $86.29 | x |
| 2016-12-31 | $0.95 | $86.29 | x |
| 2017-12-31 | $0.66 | $86.29 | x |
| 2018-12-31 | $1.16 | $86.29 | x |
| 2019-12-31 | $1.53 | $86.29 | x |
| 2020-12-31 | $1.02 | $86.29 | x |
| 2021-12-31 | $0.94 | $86.29 | x |
| 2022-12-31 | $-0.35 | $86.29 | x |
| 2023-12-31 | $-0.59 | $86.29 | x |
| 2024-12-31 | $1.94 | $86.29 | x |
| 2025-12-31 | $1.65 | $86.29 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Fortinet Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 149.77%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.26%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 8.40x
- Recent ROE (149.77%) is above the historical average (30.06%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 0.00% | -14.06% | 1.07x | 0.00x | $-19.95 Million |
| 2008 | 0.00% | 3.48% | 1.06x | 0.00x | $7.89 Million |
| 2009 | 42.25% | 23.87% | 0.65x | 2.72x | $45.93 Million |
| 2010 | 17.74% | 12.70% | 0.60x | 2.35x | $18.00 Million |
| 2011 | 17.44% | 14.41% | 0.59x | 2.05x | $26.66 Million |
| 2012 | 13.08% | 12.52% | 0.55x | 1.91x | $15.74 Million |
| 2013 | 7.56% | 7.20% | 0.53x | 1.99x | $-14.30 Million |
| 2014 | 3.75% | 3.29% | 0.54x | 2.11x | $-42.25 Million |
| 2015 | 1.06% | 0.79% | 0.56x | 2.37x | $-67.55 Million |
| 2016 | 3.84% | 2.52% | 0.60x | 2.55x | $-51.57 Million |
| 2017 | 5.33% | 2.10% | 0.66x | 3.83x | $-27.54 Million |
| 2018 | 33.15% | 18.56% | 0.59x | 3.05x | $233.88 Million |
| 2019 | 24.71% | 15.34% | 0.56x | 2.89x | $197.46 Million |
| 2020 | 57.07% | 18.83% | 0.64x | 4.72x | $402.90 Million |
| 2021 | 77.63% | 18.16% | 0.56x | 7.57x | $528.63 Million |
| 2022 | 0.00% | 19.41% | 0.71x | 0.00x | $885.46 Million |
| 2023 | 0.00% | 21.64% | 0.73x | 0.00x | $1.19 Billion |
| 2024 | 116.83% | 29.30% | 0.61x | 6.54x | $1.60 Billion |
| 2025 | 149.77% | 27.26% | 0.65x | 8.40x | $1.73 Billion |
Industry Comparison
This section compares Fortinet Inc's net assets metrics with peer companies in the Software - Infrastructure industry.
Industry Context
- Industry: Software - Infrastructure
- Average net assets among peers: $527,355,826
- Average return on equity (ROE) among peers: -32.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Fortinet Inc (FTNT) | $1.24 Billion | 0.00% | 7.40x | $61.83 Billion |
| ACI Worldwide Inc (ACIW) | $267.21 Million | 20.72% | 1.00x | $4.34 Billion |
| Aeva Technologies, Inc. Common Stock (AEVA) | $26.91 Million | -95.01% | 0.21x | $821.47 Million |
| Aeva Technologies, Inc. Common Stock (AEVA) | $456.38 Million | -22.24% | 0.05x | $906.22 Million |
| Axe Compute Inc. (AGPU) | $-2.19 Million | 0.00% | 0.00x | $24.93 Million |
| C3 Ai Inc (AI) | $1.06 Billion | -5.25% | 0.13x | $1.26 Billion |
| iLearningEngines, Inc. (AILE) | $264.32 Million | 0.95% | 0.09x | $59.29 Million |
| PowerFleet, Inc. (AIOT) | $13.57 Million | 2.93% | 0.26x | $437.32 Million |
| Airship AI Holdings Inc (AISP) | $-8.36 Million | 0.00% | 0.00x | $83.39 Million |
| AIxCrypto Holdings, Inc. (AIXC) | $2.68 Million | -233.64% | 0.75x | $5.68 Million |
| Akamai Technologies Inc (AKAM) | $3.19 Billion | 9.35% | 0.71x | $15.05 Billion |
About Fortinet Inc
Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers secure networking solutions that focus on the convergence of networking and security; network firewall solutions, which consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless local area network solutions; and secure… Read more