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Fortinet FTNT ROU Asset Obtained for Lease Liability

Other financials

Income statement

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Revenue$1.8B+20.1%
Gross profit$1.5B+19.1%
Operating income$580.0M+27.8%
Net income$534.5M+23.3%
EPS (diluted)$0.72+28.6%

Balance sheet

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Cash & equivalents$2.2B-38.2%
Total debt$567.2M-47.3%
Total equity$989.7M-49.6%
Total assets$9.9B-5.0%

Cash flow

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Operating cash flow$1.1B+24.8%
CapEx$70.6M+6.2%
Free cash flow$1.0B+26.3%

Valuation

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Market cap$106.44B+43.7%
Enterprise value$104.78B+46.4%
P/E54.5×+15.1×
P/S15×+2.9×

Profitability

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Gross margin80.3%-1.0pp
Operating margin31.1%-0.4pp
Net margin27.5%-3.1pp
FCF margin34.3%+0.6pp

Returns & leverage

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Return on equity132.4%—
Debt / equity0.6×0.0×
Current ratio1.2×-0.2×

Questions, answered.

What does ROU asset obtained for lease liability mean?
This non-cash item represents the recognition of Right-of-Use (ROU) assets and corresponding lease liabilities under accounting standards for operating leases. It highlights the company's commitment to long-term lease obligations without an immediate impact on cash. It is critical for understanding off-balance-sheet financing and future fixed cost commitments.