Fortinet (FTNT) Debt to Equity (2021 - 2026)
Fortinet (FTNT) recorded quarterly Debt to Equity of $0.5 in Q1 2026, down 37.65% quarter-over-quarter from $0.81 in Q4 2025, and down 0.96% on a YoY basis from $0.51 in Q1 2025.
Fortinet (FTNT) Debt to Equity (2021 - 2026) Analysis & Trends
Fortinet's Debt to Equity history runs 6 years deep, the most recent figure standing at $0.5 for Q1 2026.
- In Q1 2026, Debt to Equity fell 0.96% year-over-year to $0.5; the TTM figure through Mar 2026 stood at $0.5 (down 0.96% YoY), while the FY2025 annual figure was $0.81, up 20.95% from the prior year.
- Debt to Equity was $0.5 for Q1 2026 at Fortinet, down from $0.81 in the prior quarter.
- In the past five years, Debt to Equity ranged from a high of $86.92 in Q1 2023 to a low of -$7.22 in Q1 2024.
- Historically, Debt to Equity has averaged $5.85 across 5 years, with a median of $0.67 in 2024.
- The sharpest annual moves came in 2022 and 2023: Debt to Equity tumbled 378.15% in 2022, then soared 1949.75% in 2023.
- A 5-year view of Debt to Equity shows it stood at -$3.52 in 2022, then surged by 39.12% to -$2.14 in 2023, then soared by 131.08% to $0.67 in 2024, then increased by 20.95% to $0.81 in 2025, then tumbled by 37.65% to $0.5 in 2026.
- The last three Debt to Equity figures came in at $0.5 (Q1 2026), $0.81 (Q4 2025), and $1.35 (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,064.95 Bn | 2,986.68 Bn | 56.06 Bn | 0.10 |
| 2 | Alarum Technologies | 1,117.04 Bn | 1,102.89 Bn | 7.23 Mn | - |
| 3 | Oracle | 608.54 Bn | 569.96 Bn | 15.14 Bn | 3.24 |
| 4 | Palantir Technologies | 326.97 Bn | 319.05 Bn | 1.42 Bn | - |
| 5 | Palo Alto Networks | 185.10 Bn | 180.56 Bn | 1.91 Bn | - |
| 6 | CrowdStrike Holdings | 165.31 Bn | 162.25 Bn | 993.68 Mn | 0.17 |
| 7 | Fortinet | 105.66 Bn | 102.37 Bn | 1.49 Bn | 0.50 |
| 8 | Synopsys | 89.71 Bn | 89.60 Bn | 1.77 Bn | 0.33 |
| 9 | Cloudflare | 87.54 Bn | 86.60 Bn | 455.60 Mn | 0.85 |
| 10 | CoreWeave | 53.90 Bn | 51.63 Bn | 2.01 Bn | 5.22 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.50 |
| Dec 31, 2025 | 0.81 |
| Sep 30, 2025 | 1.35 |
| Jun 30, 2025 | 0.48 |
| Mar 31, 2025 | 0.51 |
| Dec 31, 2024 | 0.67 |
| Sep 30, 2024 | 1.09 |
| Jun 30, 2024 | 3.45 |
| Mar 31, 2024 | -7.22 |
| Dec 31, 2023 | -2.14 |
| Sep 30, 2023 | 13.38 |
| Jun 30, 2023 | 3.09 |
| Mar 31, 2023 | 86.92 |
| Dec 31, 2022 | -3.52 |
| Sep 30, 2022 | -1.56 |
| Jun 30, 2022 | -2.61 |
| Mar 31, 2022 | 4.24 |
| Dec 31, 2021 | 1.26 |
| Sep 30, 2021 | 0.89 |
| Jun 30, 2021 | 0.94 |