Fortinet Other Assets vs Retained Earnings Analysis

FTNT Stock

USD 59.72 0.03 0.05%

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 Other Assets and its Retained Earnings 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.

Other Assets vs Retained Earnings

Other Assets vs Retained Earnings Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Fortinet Other Assets account and Retained Earnings. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Fortinet's Other Assets and Retained Earnings is -0.2. Overlapping area represents the amount of variation of Other Assets that can explain the historical movement of Retained Earnings in the same time period over historical financial statements of Fortinet, assuming nothing else is changed. The correlation between historical values of Fortinet's Other Assets and Retained Earnings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Assets of Fortinet are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Other Assets i.e., Fortinet's Other Assets and Retained Earnings go up and down completely randomly.

Correlation Coefficient

-0.2

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

Other Assets

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

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	77.3M	108.2M	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

Pair Trading with Fortinet

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Fortinet position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fortinet will appreciate offsetting losses from the drop in the long position's value.

Moving together with Fortinet Stock

0.74	S	SentinelOne	Pair Corr
0.66	MQ	Marqeta	Pair Corr

Moving against Fortinet Stock

0.62

Nextnav Acquisition Corp

Pair Corr

The ability to find closely correlated positions to Fortinet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortinet when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Fortinet - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Fortinet to buy it.

The correlation of Fortinet is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortinet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortinet moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Fortinet can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Fortinet Stock Analysis

When running Fortinet's price analysis, check to measure Fortinet's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortinet is operating at the current time. Most of Fortinet's value examination focuses on studying past and present price action to predict the probability of Fortinet's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortinet's price. Additionally, you may evaluate how the addition of Fortinet to your portfolios can decrease your overall portfolio volatility.

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