Fortinet (FTNT) Debt Ratio (2021 - 2026)
Fortinet (FTNT) posted Debt Ratio of 0.05 for Q2 2026, down 8.97% on a QoQ basis from 0.05 in Q1 2026, and down 51.08% year-over-year from 0.09 in Q2 2025.
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Analysis
Fortinet (FTNT) Debt Ratio (2021 - 2026) Analysis & Trends
Fortinet has reported Debt Ratio for 6 years, with the latest figure at 0.05 in Q2 2026.
- On a quarterly basis, Debt Ratio fell 51.08% year-over-year to 0.05 in Q2 2026; TTM through Jun 2026 was 0.05, a 51.08% decrease from a year earlier, with the FY2025 full-year figure at 0.1, down 5.84% from the prior year.
- Debt Ratio was 0.05 for Q2 2026 at Fortinet, down from 0.05 in the prior quarter.
- The five-year high for Debt Ratio was 0.19 in Q2 2022, with the low at 0.05 in Q2 2026.
- Average Debt Ratio over 5 years is 0.12, with a median of 0.13 recorded in 2024.
- The sharpest annual moves came in 2022 and 2026: Debt Ratio climbed 10.15% in 2022, then plunged 51.08% in 2026.
- Over 5 years, Debt Ratio stood at 0.16 in 2022, then declined by 14.04% to 0.14 in 2023, then declined by 25.5% to 0.1 in 2024, then fell by 5.84% to 0.1 in 2025, then tumbled by 52.28% to 0.05 in 2026.
- The last three Debt Ratio figures came in at 0.05 (Q2 2026), 0.05 (Q1 2026), and 0.1 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | - |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 0.06 |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 0.05 |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | - |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | - |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 0.23 |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | - |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | - |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 0.11 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.05 |
| Mar 31, 2026 | 0.05 |
| Dec 31, 2025 | 0.10 |
| Sep 30, 2025 | 0.11 |
| Jun 30, 2025 | 0.09 |
| Mar 31, 2025 | 0.10 |
| Dec 31, 2024 | 0.10 |
| Sep 30, 2024 | 0.11 |
| Jun 30, 2024 | 0.12 |
| Mar 31, 2024 | 0.13 |
| Dec 31, 2023 | 0.14 |
| Sep 30, 2023 | 0.13 |
| Jun 30, 2023 | 0.13 |
| Mar 31, 2023 | 0.15 |
| Dec 31, 2022 | 0.16 |
| Sep 30, 2022 | 0.19 |
| Jun 30, 2022 | 0.19 |
| Mar 31, 2022 | 0.17 |
| Dec 31, 2021 | 0.17 |
| Sep 30, 2021 | 0.17 |
API Access
Fortinet Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "FTNT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();