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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Fortinet (FTNT) Debt to Equity (2021 - 2025)

Fortinet has reported Debt to Equity over the past 5 years, most recently at $0.81 for Q4 2025.

  • Quarterly results put Debt to Equity at $0.81 for Q4 2025, up 20.95% from a year ago — trailing twelve months through Dec 2025 was $0.81 (up 20.95% YoY), and the annual figure for FY2025 was $0.81, up 20.95%.
  • Debt to Equity for Q4 2025 was $0.81 at Fortinet, down from $1.35 in the prior quarter.
  • Over the last five years, Debt to Equity for FTNT hit a ceiling of $86.92 in Q1 2023 and a floor of -$7.22 in Q1 2024.
  • Median Debt to Equity over the past 5 years was $0.91 (2021), compared with a mean of $5.15.
  • Biggest five-year swings in Debt to Equity: crashed 384.1% in 2022 and later surged 1949.75% in 2023.
  • Fortinet's Debt to Equity stood at $1.24 in 2021, then plummeted by 384.1% to -$3.52 in 2022, then soared by 39.12% to -$2.14 in 2023, then skyrocketed by 131.08% to $0.67 in 2024, then rose by 20.95% to $0.81 in 2025.
  • The last three reported values for Debt to Equity were $0.81 (Q4 2025), $1.35 (Q3 2025), and $0.48 (Q2 2025) per Business Quant data.