Fortinet Gross Profit vs Operating Income Analysis

FTNT Stock

USD 77.92 0.92 1.17%

Fortinet financial indicator trend analysis is much more than just examining Fortinet latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Fortinet is a good investment. Please check the relationship between Fortinet Gross Profit and its Operating Income accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortinet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.

Gross Profit vs Operating Income

Gross Profit vs Operating Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Fortinet Gross Profit account and Operating Income. At this time, the significance of the direction appears to have almost identical trend.

The correlation between Fortinet's Gross Profit and Operating Income is 0.98. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Operating Income in the same time period over historical financial statements of Fortinet, assuming nothing else is changed. The correlation between historical values of Fortinet's Gross Profit and Operating Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of Fortinet are associated (or correlated) with its Operating Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Operating Income has no effect on the direction of Gross Profit i.e., Fortinet's Gross Profit and Operating Income go up and down completely randomly.

Correlation Coefficient

0.98

Relationship Direction	Positive
Relationship Strength	Very Strong

View All Relationships

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Fortinet minus its cost of goods sold. It is profit before Fortinet operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Operating Income

Operating Income is the amount of profit realized from Fortinet operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of Fortinet is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Most indicators from Fortinet's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Fortinet current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortinet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.At this time, Fortinet's Selling General Administrative is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 0.07 in 2024, whereas Tax Provision is likely to drop slightly above 29.3 M in 2024.

	2021	2022	2023	2024 (projected)
Interest Expense	14.9M	18M	21M	13.6M
Depreciation And Amortization	84.4M	104.3M	379.7M	398.7M

Interest Expense Depreciation And Amortization

Fortinet fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Short Term Investments	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets
Common Stock Shares Outstanding		0.11	0.0	0.04	0.54	0.01	-0.02	0.04	-0.52	0.19	0.06	0.2	0.02	-0.07	0.08	0.25	0.03	-0.04	0.26	-0.05	0.0	0.15	0.37	-0.01	-0.03	0.16
Total Assets	0.11		0.97	0.99	-0.44	0.99	0.98	0.99	-0.25	-0.87	0.97	0.8	0.99	0.96	0.45	0.96	0.98	0.85	0.88	0.98	0.91	0.96	0.79	0.98	0.96	1.0
Other Current Liab	0.0	0.97		0.99	-0.61	0.99	1.0	0.99	-0.11	-0.94	0.94	0.68	0.98	0.93	0.29	0.88	0.99	0.92	0.81	0.99	0.97	0.98	0.67	0.99	1.0	0.96
Total Current Liabilities	0.04	0.99	0.99		-0.56	1.0	1.0	1.0	-0.19	-0.93	0.97	0.75	0.99	0.95	0.37	0.91	1.0	0.91	0.82	0.99	0.95	0.97	0.73	1.0	0.99	0.98
Total Stockholder Equity	0.54	-0.44	-0.61	-0.56		-0.56	-0.6	-0.55	-0.52	0.82	-0.5	-0.05	-0.53	-0.47	0.16	-0.19	-0.57	-0.76	-0.12	-0.62	-0.66	-0.54	0.05	-0.59	-0.64	-0.38
Other Liab	0.01	0.99	0.99	1.0	-0.56		1.0	1.0	-0.18	-0.93	0.97	0.76	0.99	0.96	0.41	0.92	1.0	0.9	0.82	0.99	0.94	0.97	0.73	1.0	0.98	0.98
Property Plant And Equipment Net	-0.02	0.98	1.0	1.0	-0.6	1.0		1.0	-0.13	-0.94	0.96	0.72	0.99	0.95	0.35	0.89	0.99	0.91	0.81	0.99	0.95	0.97	0.69	1.0	0.99	0.97
Current Deferred Revenue	0.04	0.99	0.99	1.0	-0.55	1.0	1.0		-0.2	-0.93	0.97	0.75	0.98	0.95	0.37	0.92	1.0	0.91	0.82	0.99	0.95	0.97	0.73	1.0	0.99	0.98
Net Debt	-0.52	-0.25	-0.11	-0.19	-0.52	-0.18	-0.13	-0.2		-0.05	-0.28	-0.64	-0.12	-0.17	-0.48	-0.46	-0.2	0.02	-0.24	-0.07	-0.03	-0.15	-0.65	-0.12	-0.07	-0.34
Retained Earnings	0.19	-0.87	-0.94	-0.93	0.82	-0.93	-0.94	-0.93	-0.05		-0.89	-0.57	-0.9	-0.84	-0.2	-0.71	-0.94	-0.96	-0.59	-0.94	-0.93	-0.9	-0.51	-0.94	-0.95	-0.84
Accounts Payable	0.06	0.97	0.94	0.97	-0.5	0.97	0.96	0.97	-0.28	-0.89		0.82	0.96	0.95	0.54	0.91	0.98	0.87	0.76	0.95	0.87	0.93	0.78	0.96	0.92	0.96
Cash	0.2	0.8	0.68	0.75	-0.05	0.76	0.72	0.75	-0.64	-0.57	0.82		0.74	0.79	0.74	0.89	0.75	0.52	0.68	0.71	0.56	0.69	0.96	0.73	0.65	0.83
Non Current Assets Total	0.02	0.99	0.98	0.99	-0.53	0.99	0.99	0.98	-0.12	-0.9	0.96	0.74		0.97	0.42	0.92	0.98	0.88	0.86	0.99	0.92	0.96	0.72	0.99	0.97	0.97
Non Currrent Assets Other	-0.07	0.96	0.93	0.95	-0.47	0.96	0.95	0.95	-0.17	-0.84	0.95	0.79	0.97		0.59	0.91	0.94	0.79	0.83	0.96	0.83	0.88	0.74	0.96	0.91	0.95
Other Assets	0.08	0.45	0.29	0.37	0.16	0.41	0.35	0.37	-0.48	-0.2	0.54	0.74	0.42	0.59		0.56	0.39	0.12	0.38	0.37	0.09	0.26	0.65	0.37	0.23	0.47
Cash And Short Term Investments	0.25	0.96	0.88	0.91	-0.19	0.92	0.89	0.92	-0.46	-0.71	0.91	0.89	0.92	0.91	0.56		0.9	0.69	0.91	0.88	0.79	0.89	0.89	0.9	0.85	0.98
Net Receivables	0.03	0.98	0.99	1.0	-0.57	1.0	0.99	1.0	-0.2	-0.94	0.98	0.75	0.98	0.94	0.39	0.9		0.92	0.79	0.98	0.95	0.97	0.72	0.99	0.98	0.97
Common Stock Total Equity	-0.04	0.85	0.92	0.91	-0.76	0.9	0.91	0.91	0.02	-0.96	0.87	0.52	0.88	0.79	0.12	0.69	0.92		0.58	0.91	0.95	0.9	0.49	0.91	0.93	0.82
Short Term Investments	0.26	0.88	0.81	0.82	-0.12	0.82	0.81	0.82	-0.24	-0.59	0.76	0.68	0.86	0.83	0.38	0.91	0.79	0.58		0.8	0.74	0.83	0.76	0.81	0.79	0.88
Non Current Liabilities Total	-0.05	0.98	0.99	0.99	-0.62	0.99	0.99	0.99	-0.07	-0.94	0.95	0.71	0.99	0.96	0.37	0.88	0.98	0.91	0.8		0.94	0.96	0.67	1.0	0.98	0.95
Inventory	0.0	0.91	0.97	0.95	-0.66	0.94	0.95	0.95	-0.03	-0.93	0.87	0.56	0.92	0.83	0.09	0.79	0.95	0.95	0.74	0.94		0.96	0.56	0.95	0.98	0.9
Other Current Assets	0.15	0.96	0.98	0.97	-0.54	0.97	0.97	0.97	-0.15	-0.9	0.93	0.69	0.96	0.88	0.26	0.89	0.97	0.9	0.83	0.96	0.96		0.7	0.97	0.97	0.96
Other Stockholder Equity	0.37	0.79	0.67	0.73	0.05	0.73	0.69	0.73	-0.65	-0.51	0.78	0.96	0.72	0.74	0.65	0.89	0.72	0.49	0.76	0.67	0.56	0.7		0.7	0.63	0.83
Total Liab	-0.01	0.98	0.99	1.0	-0.59	1.0	1.0	1.0	-0.12	-0.94	0.96	0.73	0.99	0.96	0.37	0.9	0.99	0.91	0.81	1.0	0.95	0.97	0.7		0.99	0.97
Property Plant And Equipment Gross	-0.03	0.96	1.0	0.99	-0.64	0.98	0.99	0.99	-0.07	-0.95	0.92	0.65	0.97	0.91	0.23	0.85	0.98	0.93	0.79	0.98	0.98	0.97	0.63	0.99		0.94
Total Current Assets	0.16	1.0	0.96	0.98	-0.38	0.98	0.97	0.98	-0.34	-0.84	0.96	0.83	0.97	0.95	0.47	0.98	0.97	0.82	0.88	0.95	0.9	0.96	0.83	0.97	0.94

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Fortinet Account Relationship Matchups

Fortinet fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	875M	838.5M	835.5M	805.3M	788.2M	858.4M
Total Assets	3.9B	4.0B	5.9B	6.2B	7.3B	7.6B
Other Current Liab	188.1M	276M	366M	452.5M	632.6M	664.2M
Total Current Liabilities	1.5B	1.8B	2.3B	3.1B	3.7B	3.9B
Total Stockholder Equity	1.3B	856M	781.7M	(281.6M)	(463.4M)	(440.2M)
Other Liab	1.1B	1.4B	1.8B	2.4B	2.7B	2.9B
Property Plant And Equipment Net	344.3M	448M	687.6M	898.5M	1.1B	1.2B
Current Deferred Revenue	1.2B	1.4B	1.8B	2.3B	2.8B	3.0B
Net Debt	(1.2B)	(1.0B)	(330.7M)	(692.5M)	(326.5M)	(342.8M)
Retained Earnings	140.3M	(352.1M)	(467.9M)	(1.5B)	(1.9B)	(1.8B)
Accounts Payable	96.4M	141.6M	148.4M	243.4M	204.3M	214.5M
Cash	1.2B	1.1B	1.3B	1.7B	1.4B	703.1M
Non Current Assets Total	1.1B	1.3B	2.3B	2.4B	2.8B	3.0B
Non Currrent Assets Other	297M	368M	659.1M	720.2M	637.4M	669.3M
Other Assets	480M	732M	1.0B	1.2B	1.0	0.95
Cash And Short Term Investments	2.1B	1.8B	2.6B	2.2B	2.4B	2.6B
Net Receivables	544.3M	720M	807.7M	1.3B	1.4B	1.5B
Short Term Investments	843.1M	775.5M	1.2B	528.1M	1.0B	1.1B
Liabilities And Stockholders Equity	3.9B	4.0B	5.9B	6.2B	7.3B	7.6B
Non Current Liabilities Total	1.1B	1.4B	2.8B	3.4B	4.0B	4.2B
Inventory	117.9M	139.8M	175.8M	264.6M	484.8M	509.0M
Other Current Assets	41.2M	43.3M	65.4M	73.1M	101.1M	106.2M
Other Stockholder Equity	1.2B	1.2B	1.3B	1.3B	1.4B	778.4M
Total Liab	2.6B	3.2B	5.1B	6.5B	7.7B	8.1B
Property Plant And Equipment Gross	344.3M	448M	687.6M	898.5M	1.4B	1.5B
Total Current Assets	2.8B	2.7B	3.6B	3.8B	4.4B	4.6B
Accumulated Other Comprehensive Income	1.1M	700K	(4.8M)	(20.2M)	(18.9M)	(18.0M)
Short Term Debt	15.5M	19.1M	26.3M	33.2M	33.4M	20.5M
Property Plant Equipment	344.3M	448M	687.6M	898.5M	1.0B	1.1B
Intangible Assets	31.1M	31.6M	63.6M	56M	35.3M	24.6M
Net Tangible Assets	1.2B	731.4M	593M	(281.6M)	(253.4M)	(240.8M)
Retained Earnings Total Equity	140.3M	(352.1M)	(467.9M)	(1.5B)	(1.4B)	(1.3B)
Capital Surpluse	1.2B	1.2B	1.3B	1.3B	1.5B	973.4M
Deferred Long Term Liab	962.3M	1.2B	423.3M	2.3B	2.6B	2.8B
Long Term Investments	67M	144.3M	118.3M	440.8M	45.5M	0.0
Non Current Liabilities Other	127.7M	146.5M	59.2M	82M	124.7M	92.3M

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