Analysis of Inventory
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2009
- Return on Equity (ROE) since 2009
- Current Ratio since 2009
- Price to Book Value (P/BV) since 2009
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Inventory Disclosure
Fortinet Inc., balance sheet: inventory
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventory |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Raw materials
- The value of raw materials experienced fluctuations over the observed period. It started at 13,300 thousand USD in 2018, then decreased to 9,700 thousand USD in 2019. After that, it rose to 13,800 thousand USD in 2020, followed by significant increases to 40,200 thousand USD in 2021 and 46,300 thousand USD in 2022. This trend indicates an overall growth in the raw materials held, especially from 2020 onwards.
- Work in process
- Data for work in process inventory contents were not available for 2018 through 2020 but showed values of 9,800 thousand USD in 2021 and 12,000 thousand USD in 2022. This suggests either prior unavailability or minimal levels previously, with a noticeable increase in recent years.
- Finished goods
- The finished goods inventory saw consistent growth from 76,700 thousand USD in 2018 to 108,200 thousand USD in 2019, increasing further to 126,000 thousand USD in 2020. It remained relatively stable in 2021 at 125,800 thousand USD, then surged significantly to 206,300 thousand USD in 2022. This pattern reflects both steady accumulation and a pronounced expansion of finished goods inventory in the latest year.
- Inventory (Total)
- Total inventory exhibited a continuous upward trend throughout the period. Starting at 90,000 thousand USD in 2018, it increased to 117,900 thousand USD in 2019, 139,800 thousand USD in 2020, 175,800 thousand USD in 2021, and reached 264,600 thousand USD in 2022. The acceleration of inventory growth is especially marked in the last two years, correlating with rises in both raw materials and finished goods, and newly reported work in process inventory.