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Fair value138.95Plus-10%95Price 125.30211
Q4 FY2026 · Earnings report
EPS estimate 0.94Revenue estimate 2.20B
Q4 FY2026 · Earnings report
EPS estimate 0.94Revenue estimate 2.20B
Fortinet total debt 2007–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Fortinet's total debt was 497.10M USD on 30 September 2026, down 50.1% on a year before. At the end of fiscal year 2025 it was 996.30M USD.
Last updated 9 Nov 2026 · Next report 4 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 497.10M | -50.09% | 4.80B | 4.30B | 0.22 |
| FY2025 | 31 Dec 2025 | 996.30M | +0.20% | 3.58B | 2.59B | 0.81 |
| FY2024 | 31 Dec 2024 | 994.30M | +0.20% | 4.07B | 3.07B | 0.67 |
| FY2023 | 31 Dec 2023 | 992.30M | +0.19% | 2.44B | 1.45B | — |
| FY2022 | 31 Dec 2022 | 990.40M | +0.20% | 2.21B | 1.22B | — |
| FY2021 | 31 Dec 2021 | 988.40M | — | 2.55B | 1.56B | 1.26 |
| FY2020 | 31 Dec 2020 | 0.00 | — | 1.84B | 1.84B | 0.00 |
| FY2019 | 31 Dec 2019 | 0.00 | — | 2.07B | 2.07B | 0.00 |
| FY2018 | 31 Dec 2018 | 0.00 | — | 1.65B | 1.65B | 0.00 |
| FY2017 | 31 Dec 2017 | 0.00 | — | 1.25B | 1.25B | 0.00 |
| FY2016 | 31 Dec 2016 | 0.00 | — | 1.09B | 1.09B | 0.00 |
| FY2015 | 31 Dec 2015 | 0.00 | — | 891.35M | 891.35M | 0.00 |
| FY2014 | 31 Dec 2014 | 0.00 | — | 720.02M | 720.02M | 0.00 |
| FY2013 | 31 Dec 2013 | 0.00 | — | 491.37M | 491.37M | 0.00 |
| FY2012 | 31 Dec 2012 | 0.00 | — | 413.69M | 413.69M | 0.00 |
| FY2011 | 31 Dec 2011 | 0.00 | — | 390.27M | 390.27M | 0.00 |
| FY2010 | 31 Dec 2010 | 0.00 | — | 313.51M | 313.51M | 0.00 |
| FY2009 | 31 Dec 2009 | 0.00 | — | 260.31M | 260.31M | 0.00 |
| FY2008 | 31 Dec 2008 | 0.00 | — | 124.19M | 124.19M | — |
| FY2007 | 31 Dec 2007 | 0.00 | — | 90.16M | 90.16M | — |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 497.10M | -50.09% | 4.80B | 4.30B | 0.22 |
| Q2 FY2026 | 30 Jun 2026 | 496.90M | -50.08% | 4.07B | 3.57B | 0.32 |
| Q1 FY2026 | 31 Mar 2026 | 496.80M | -50.07% | 3.29B | 2.80B | 0.50 |
| Q4 FY2025 | 31 Dec 2025 | 996.30M | +0.20% | 3.58B | 2.59B | 0.81 |
| Q3 FY2025 | 30 Sept 2025 | 995.90M | +0.21% | 3.12B | 2.13B | 1.35 |
| Q2 FY2025 | 30 Jun 2025 | 995.30M | +0.20% | 4.56B | 3.57B | 0.48 |
| Q1 FY2025 | 31 Mar 2025 | 994.90M | +0.21% | 4.78B | 3.79B | 0.51 |
| Q4 FY2024 | 31 Dec 2024 | 994.30M | +0.20% | 4.07B | 3.07B | 0.67 |
| Q3 FY2024 | 30 Sept 2024 | 993.80M | +0.20% | 3.70B | 2.71B | 1.09 |
| Q2 FY2024 | 30 Jun 2024 | 993.30M | +0.20% | 3.34B | 2.35B | 3.45 |
| Q1 FY2024 | 31 Mar 2024 | 992.80M | +0.19% | 3.02B | 2.03B | — |
| Q4 FY2023 | 31 Dec 2023 | 992.30M | +0.19% | 2.44B | 1.45B | — |
| Q3 FY2023 | 30 Sept 2023 | 991.80M | +0.19% | 3.17B | 2.18B | 13.38 |
| Q2 FY2023 | 30 Jun 2023 | 991.30M | +0.19% | 3.31B | 2.32B | 3.09 |
| Q1 FY2023 | 31 Mar 2023 | 990.90M | +0.20% | 2.88B | 1.89B | 86.92 |
| Q4 FY2022 | 31 Dec 2022 | 990.40M | +0.20% | 2.21B | 1.22B | — |
| Q3 FY2022 | 30 Sept 2022 | 989.90M | -1.56% | 1.73B | 740.50M | — |
| Q2 FY2022 | 30 Jun 2022 | 989.40M | +0.19% | 1.75B | 765.50M | — |
| Q1 FY2022 | 31 Mar 2022 | 988.90M | +0.19% | 2.14B | 1.15B | 4.54 |
| Q4 FY2021 | 31 Dec 2021 | 988.40M | — | 2.55B | 1.56B | 1.26 |
| Q3 FY2021 | 30 Sept 2021 | 1.01B | — | 3.12B | 2.12B | 0.90 |
| Q2 FY2021 | 30 Jun 2021 | 987.50M | — | 3.11B | 2.13B | 0.94 |
| Q1 FY2021 | 31 Mar 2021 | 987.00M | — | 2.94B | 1.95B | 1.01 |
| Q4 FY2020 | 31 Dec 2020 | 0.00 | — | 1.84B | 1.84B | 0.00 |
| Q3 FY2020 | 30 Sept 2020 | 0.00 | — | 1.66B | 1.66B | 0.00 |
| Q2 FY2020 | 30 Jun 2020 | 0.00 | — | 1.53B | 1.53B | 0.00 |
| Q1 FY2020 | 31 Mar 2020 | 0.00 | — | 1.40B | 1.40B | 0.00 |
| Q4 FY2019 | 31 Dec 2019 | 0.00 | — | 2.07B | 2.07B | 0.00 |
| Q3 FY2019 | 30 Sept 2019 | 0.00 | — | 1.94B | 1.94B | 0.00 |
| Q2 FY2019 | 30 Jun 2019 | 0.00 | — | 1.83B | 1.83B | 0.00 |
| Q1 FY2019 | 31 Mar 2019 | 0.00 | — | 1.80B | 1.80B | 0.00 |
| Q4 FY2018 | 31 Dec 2018 | 0.00 | — | 1.65B | 1.65B | 0.00 |
| Q3 FY2018 | 30 Sept 2018 | 0.00 | — | 1.63B | 1.63B | 0.00 |
| Q2 FY2018 | 30 Jun 2018 | 0.00 | — | 1.43B | 1.43B | 0.00 |
| Q1 FY2018 | 31 Mar 2018 | 0.00 | — | 1.30B | 1.30B | 0.00 |
| Q4 FY2017 | 31 Dec 2017 | 0.00 | — | 1.25B | 1.25B | 0.00 |
| Q3 FY2017 | 30 Sept 2017 | 0.00 | — | 1.28B | 1.28B | 0.00 |
| Q2 FY2017 | 30 Jun 2017 | 0.00 | — | 1.21B | 1.21B | 0.00 |
| Q1 FY2017 | 31 Mar 2017 | 0.00 | — | 1.20B | 1.20B | 0.00 |
| Q4 FY2016 | 31 Dec 2016 | 0.00 | — | 1.09B | 1.09B | 0.00 |
| Q3 FY2016 | 30 Sept 2016 | 0.00 | — | 1.03B | 1.03B | 0.00 |
| Q2 FY2016 | 30 Jun 2016 | 0.00 | — | 984.77M | 984.77M | 0.00 |
| Q1 FY2016 | 31 Mar 2016 | 0.00 | — | 952.60M | 952.60M | 0.00 |
| Q4 FY2015 | 31 Dec 2015 | 0.00 | — | 891.35M | 891.35M | 0.00 |
| Q3 FY2015 | 30 Sept 2015 | 0.00 | — | 908.16M | 908.16M | 0.00 |
| Q2 FY2015 | 30 Jun 2015 | 0.00 | — | 873.03M | 873.03M | 0.00 |
| Q1 FY2015 | 31 Mar 2015 | 0.00 | — | 803.96M | 803.96M | 0.00 |
| Q4 FY2014 | 31 Dec 2014 | 0.00 | — | 720.02M | 720.02M | 0.00 |
| Q3 FY2014 | 30 Sept 2014 | 0.00 | — | 660.59M | 660.59M | 0.00 |
| Q2 FY2014 | 30 Jun 2014 | 0.00 | — | 558.12M | 558.12M | 0.00 |
| Q1 FY2014 | 31 Mar 2014 | 0.00 | — | 561.05M | 561.05M | 0.00 |
| Q4 FY2013 | 31 Dec 2013 | 0.00 | — | 491.37M | 491.37M | 0.00 |
| Q3 FY2013 | 30 Sept 2013 | 0.00 | — | 513.02M | 513.02M | 0.00 |
| Q2 FY2013 | 30 Jun 2013 | 0.00 | — | 502.70M | 502.70M | 0.00 |
| Q1 FY2013 | 31 Mar 2013 | 0.00 | — | 460.38M | 460.38M | 0.00 |
| Q4 FY2012 | 31 Dec 2012 | 0.00 | — | 413.69M | 413.69M | 0.00 |
| Q3 FY2012 | 30 Sept 2012 | 0.00 | — | 374.65M | 374.65M | 0.00 |
| Q2 FY2012 | 30 Jun 2012 | 0.00 | — | 401.63M | 401.63M | 0.00 |
| Q1 FY2012 | 31 Mar 2012 | 0.00 | — | 428.07M | 428.07M | 0.00 |
| Q4 FY2011 | 31 Dec 2011 | 0.00 | — | 390.27M | 390.27M | 0.00 |
| Q3 FY2011 | 30 Sept 2011 | 0.00 | — | 389.17M | 389.17M | 0.00 |
| Q2 FY2011 | 30 Jun 2011 | 0.00 | — | 342.02M | 342.02M | 0.00 |
| Q1 FY2011 | 31 Mar 2011 | 0.00 | — | 301.60M | 301.60M | 0.00 |
| Q4 FY2010 | 31 Dec 2010 | 0.00 | — | 313.51M | 313.51M | 0.00 |
| Q3 FY2010 | 30 Sept 2010 | 0.00 | — | 292.29M | 292.29M | 0.00 |
| Q2 FY2010 | 30 Jun 2010 | 0.00 | — | 252.35M | 252.35M | 0.00 |
| Q1 FY2010 | 31 Mar 2010 | 0.00 | — | 248.16M | 248.16M | 0.00 |
| Q4 FY2009 | 31 Dec 2009 | 0.00 | — | 260.31M | 260.31M | 0.00 |
| Q3 FY2009 | 30 Sept 2009 | 0.00 | — | 152.39M | 152.39M | 0.00 |
| Q2 FY2009 | 30 Jun 2009 | 0.00 | — | 136.42M | 136.42M | — |
| Q4 FY2008 | 31 Dec 2008 | 0.00 | — | 124.19M | 124.19M | — |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Fortinet's debt
Source: Financial Modeling PrepVerified against SEC filings