Fortinet Inc (NASDAQ:FTNT)

Stock Price: $67.77

+0.6 (0.89%)

Updated May 26, 2023 08:00 PM GMT+0000

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Overview

Financials

Statistics

Profile

Chart

Market Cap	53.21B
Revenue	4.72B
Gross Profit	3.59B
Shares Out	785.20M
EPS (ttm)	1.21
PE Ratio	55.0515
Forward PE	47.9588
Dividend Rate (ttm)	0.0000
Dividend Yield	0.0000

Trading Day	May 26
Last Price	$67.77
Previous Close	$67.17
Change ($)	0.6
Change (%)	0.89%
Day's Open	67.36
Day's Range	67.3 - 68.82
Day's Volume	5.34M
52 Week Range	42.61 - 71.29

About Fortinet Inc

Fortinet secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future.

Only the Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. Fortinet ranks #1 in the most security appliances shipped worldwide and more than 500,000 customers trust Fortinet to protect their businesses.

Both a technology company and a learning organization, the Fortinet Network Security Expert (NSE) Training Institute has one of the largest and broadest cybersecurity training programs in the industry.

News

Fortinet stock prediction after topping FQ3 estimates November 5, 2021

Fortinet price prediction: Wells Fargo sees a 27% upside October 5, 2021

Stifel’s Adam Borg sees a 19% upside in Fortinet stock September 21, 2021

Quick info

Country

United States

Industry

Computer Terminal and Other Computer Peripheral Equipment Manufacturing

Sector

Manufacturing

Employees

12,595

CEO

Ken Xie

Address

899 Kifer Rd
Sunnyvale
California
94086-5205

Phone

14082357700

Website

www.fortinet.com

Ticker Symbol

FTNT

Exchange

NASDAQ Stock Exchange

Reporting Currency

USD

Fortinet Inc income statements (2022) (USD)

	August 2022	August 2022	May 2022	February 2022
Total Revenue	1.03B	1.03B	0.95B	3.34B
Cost of Revenue	250.80M	250.80M	253.80M	783M
Gross Profit	779.30M	779.30M	701M	2.56B
Research & Development	124.30M	124.30M	124.90M	424.20M
Selling General & Admin	460.90M	460.90M	426.20M	1.49B
Operating Expense	836M	836M	804.90M	2.70B
Operating Income	194.10M	194.10M	149.90M	645.80M
Other Income Expense Net	0	0	0	0
EBIT	186M	186M	141.40M	645.80M
Interest Income	2.10M	2.10M	3.20M	10.40M
Pretax Income	175.80M	175.80M	130.20M	620.80M
Income Tax	2.40M	2.40M	-8.1M	14.10M
Minority Interest	-100K	-100K	-100K	-100K
Net Income	173.50M	173.50M	138.40M	606.80M
Net Income Basic	173.50M	173.50M	138.40M	606.80M

Fortinet Inc income statements (2021) (USD)

	November 2021	August 2021	May 2021	February 2021
Total Revenue	867.20M	801.10M	710.30M	2.59B
Cost of Revenue	211.20M	186.90M	156.60M	570M
Gross Profit	656M	614.20M	553.70M	2.02B
Research & Development	107.80M	106.60M	97.20M	341.40M
Selling General & Admin	382.90M	361.30M	336M	1.19B
Operating Expense	701.90M	654.80M	589.80M	2.10B
Operating Income	165.30M	146.30M	120.50M	491.60M
Other Income Expense Net	0	0	0	0
EBIT	162.50M	146.30M	120.50M	491.60M
Interest Income	3.40M	3.30M	200K	-17.7M
Pretax Income	153.90M	145M	119.40M	541.70M
Income Tax	-9.3M	7.50M	12.20M	53.20M
Minority Interest	100K	0	0	0
Net Income	163.10M	137.50M	107.20M	488.50M
Net Income Basic	163.10M	137.50M	107.20M	488.50M

Fortinet Inc income statements (2020) (USD)

	November 2020	September 2020	June 2020	March 2020	March 2020
Total Revenue	651.10M	651.10M	615.50M	576.90M	576.90M
Cost of Revenue	139.20M	136.40M	136.40M	130.10M	130.10M
Gross Profit	511.90M	514.70M	479.10M	446.80M	446.80M
Research & Development	90M	90M	82.10M	80.30M	80.30M
Selling General & Admin	296.10M	296.10M	281.40M	287.40M	287.40M
Operating Expense	525.30M	522.50M	499.90M	497.80M	497.80M
Operating Income	125.80M	125.80M	115.60M	79.10M	79.10M
Other Income Expense Net	0	2.60M	6M	38M	38M
EBIT	125.80M	125.80M	115.60M	79.10M	79.10M
Interest Income	-2.5M	N.A	N.A	N.A	N.A
Pretax Income	128.40M	128.40M	121.60M	117.10M	117.10M
Income Tax	5M	5M	9.50M	13.10M	13.10M
Minority Interest	0	0	0	0	0
Net Income	123.40M	123.40M	112.10M	104M	104M
Net Income Basic	123.40M	123.40M	112.10M	104M	104M

Fortinet Inc income statements (2019) (USD)

	December 2019	September 2019	June 2019	March 2019
Total Revenue	614.40M	547.50M	521.70M	472.60M
Cost of Revenue	141.40M	124.70M	129.20M	113.90M
Gross Profit	473M	422.80M	392.50M	358.70M
Research & Development	71.20M	69.90M	67.40M	68.60M
Selling General & Admin	283.40M	252.90M	249.90M	239.50M
Operating Expense	496M	447.50M	446.50M	422M
Operating Income	118.40M	100M	75.20M	50.60M
Other Income Expense Net	9.30M	5.40M	10.60M	9.70M
EBIT	118.40M	100M	75.20M	50.60M
Interest Income	N.A	N.A	N.A	N.A
Pretax Income	127.70M	105.40M	85.80M	60.30M
Income Tax	12.50M	25.60M	13.10M	1.50M
Minority Interest	0	0	0	0
Net Income	115.20M	79.80M	72.70M	58.80M
Net Income Basic	115.20M	79.80M	72.70M	58.80M

Fortinet Inc income statements (2018) (USD)

	December 2018	September 2018	June 2018	March 2018
Total Revenue	507M	453.90M	441.30M	399M
Cost of Revenue	129.40M	112.40M	113.60M	97.70M
Gross Profit	377.60M	341.50M	327.70M	301.30M
Research & Development	65.50M	58.70M	61.20M	59.10M
Selling General & Admin	227M	220M	215.80M	209.80M
Operating Expense	421.90M	391.10M	390.60M	366.60M
Operating Income	85.10M	62.80M	50.70M	32.40M
Other Income Expense Net	7M	7.80M	800K	4.30M
EBIT	85.10M	62.80M	50.70M	32.40M
Interest Income	N.A	N.A	N.A	N.A
Pretax Income	92.10M	70.60M	51.50M	36.70M
Income Tax	-90.5M	11.90M	2.20M	-4.9M
Minority Interest	0	0	0	0
Net Income	182.60M	58.70M	49.30M	41.60M
Net Income Basic	182.60M	58.70M	49.30M	41.60M

Fortinet Inc income statements (2017) (USD)

	December 2017	September 2017	June 2017
Total Revenue	416.67M	374.22M	363.47M
Cost of Revenue	106.21M	94.44M	96.61M
Gross Profit	310.46M	279.78M	266.86M
Research & Development	54.77M	53.49M	51.16M
Selling General & Admin	213.49M	192.60M	187.29M
Operating Expense	374.47M	340.52M	335.06M
Operating Income	42.20M	33.70M	28.41M
Other Income Expense Net	2.88M	4.21M	4.50M
EBIT	42.20M	33.70M	28.41M
Interest Income	N.A	N.A	N.A
Pretax Income	45.08M	37.91M	32.91M
Income Tax	74.04M	11.30M	9.87M
Minority Interest	0	0	0
Net Income	-28.96M	26.61M	23.03M
Net Income Basic	-28.96M	26.61M	23.03M

Fortinet Inc balance sheet (2023) (USD)

	February 2023
Current Cash	2.21B
Receivables	1.26B
Inventory	264.60M
Current Assets	3.81B
Other Current Assets	73.10M
Short Term Investments	73.10M
Long Term Investments	2.42B
Property/Plant Equipment	898.50M
Good Will	N.A
Intangible Assets	56M
Tangible Assets (Net)	-465.6M
Other Assets	720.20M
Total Assets	6.23B
Accounts Payable	243.40M
Other Current Liabilities	2.84B
Total Current Liabilities	3.08B
Total Liabilities	6.51B
Long Term Debt	0.99B
Current Long Term Debt	0
Minority Interest	0
Common Stock	780.50M
Treasury Stock	0
Retained Earnings	-1.55B
Capital Surplus	N.A
Shareholder Equity	-281.6M
Other Liabilities	N.A

Fortinet Inc balance sheet (2022) (USD)

	August 2022	August 2022	May 2022	February 2022
Current Cash	1.75B	1.75B	2.14B	2.55B
Receivables	0.92B	0.92B	790.40M	807.70M
Inventory	195.20M	195.20M	184.60M	175.80M
Current Assets	2.95B	2.95B	3.21B	3.60B
Other Current Assets	83.30M	83.30M	91.70M	65.40M
Short Term Investments	83.30M	83.30M	91.70M	65.40M
Long Term Investments	2.34B	2.34B	2.44B	2.32B
Property/Plant Equipment	814.60M	814.60M	786.50M	687.60M
Good Will	N.A	N.A	N.A	N.A
Intangible Assets	45.40M	45.40M	55.10M	63.60M
Tangible Assets (Net)	-559.6M	-559.6M	38.80M	593M
Other Assets	691.60M	691.60M	684.90M	659.10M
Total Assets	5.29B	5.29B	5.65B	5.92B
Accounts Payable	193.10M	193.10M	174.70M	148.40M
Other Current Liabilities	2.44B	2.44B	2.34B	2.17B
Total Current Liabilities	2.63B	2.63B	2.51B	2.32B
Total Liabilities	5.69B	5.69B	5.43B	5.14B
Long Term Debt	0.99B	0.99B	0.99B	0.99B
Current Long Term Debt	0	0	0	0
Minority Interest	13.30M	13.30M	15.50M	16.70M
Common Stock	795.40M	795.40M	803.50M	815M
Treasury Stock	0	0	0	0
Retained Earnings	-1.61B	-1.61B	-1B	-467.9M
Capital Surplus	N.A	N.A	N.A	N.A
Shareholder Equity	-392.9M	-392.9M	217.70M	781.70M
Other Liabilities	N.A	N.A	N.A	N.A

Fortinet Inc balance sheet (2021) (USD)

	November 2021	August 2021	May 2021	February 2021
Current Cash	3.12B	3.11B	2.94B	1.84B
Receivables	604.90M	584.60M	637.30M	720M
Inventory	177.90M	149.80M	149.60M	139.80M
Current Assets	3.96B	3.91B	3.78B	2.74B
Other Current Assets	59.70M	60.60M	57.40M	43.30M
Short Term Investments	59.70M	60.60M	57.40M	43.30M
Long Term Investments	2.01B	1.65B	1.50B	1.30B
Property/Plant Equipment	556.60M	506.50M	494.20M	448M
Good Will	N.A	N.A	N.A	N.A
Intangible Assets	71M	28.70M	32.30M	31.60M
Tangible Assets (Net)	0.92B	0.92B	849.30M	731.40M
Other Assets	616.40M	498.50M	463.60M	368M
Total Assets	5.97B	5.56B	5.28B	4.04B
Accounts Payable	142.30M	132M	129.50M	141.60M
Other Current Liabilities	2.04B	1.87B	1.75B	1.69B
Total Current Liabilities	2.20B	2B	1.88B	1.83B
Total Liabilities	4.85B	4.51B	4.30B	3.19B
Long Term Debt	0.99B	0.99B	0.99B	0
Current Long Term Debt	17.60M	0	0	0
Minority Interest	17.50M	0	0	0
Common Stock	817.50M	816.50M	815M	812.50M
Treasury Stock	0	0	0	0
Retained Earnings	-138.6M	-195.7M	-244.9M	-352.1M
Capital Surplus	N.A	N.A	N.A	N.A
Shareholder Equity	1.12B	1.05B	0.98B	856M
Other Liabilities	N.A	N.A	N.A	N.A

Fortinet Inc balance sheet (2020) (USD)

	November 2020	September 2020	June 2020	March 2020	March 2020
Current Cash	1.66B	882.30M	0.92B	626.10M	626.10M
Receivables	546.60M	546.60M	498.70M	474.70M	474.70M
Inventory	134.50M	134.50M	126M	105M	105M
Current Assets	2.38B	2.38B	2.21B	2.04B	2.04B
Other Current Assets	46.80M	46.80M	57.10M	54.30M	54.30M
Short Term Investments	46.80M	774.40M	610.50M	775.20M	775.20M
Long Term Investments	1.20B	117.90M	101.40M	173M	173M
Property/Plant Equipment	419.40M	419.40M	434.70M	416.90M	416.90M
Good Will	N.A	N.A	N.A	N.A	N.A
Intangible Assets	25.30M	N.A	23.40M	27.10M	27.10M
Tangible Assets (Net)	619.70M	713.20M	339.10M	331.50M	331.50M
Other Assets	340.70M	340.70M	276.30M	260.20M	260.20M
Total Assets	3.59B	3.59B	3.33B	3.21B	3.21B
Accounts Payable	95.90M	95.90M	107.20M	87.80M	87.80M
Other Current Liabilities	1.55B	1.55B	1.49B	1.44B	1.44B
Total Current Liabilities	1.65B	1.65B	1.61B	1.54B	1.54B
Total Liabilities	2.87B	2.87B	2.79B	2.67B	2.67B
Long Term Debt	0	N.A	27.60M	28.30M	28.30M
Current Long Term Debt	0	N.A	N.A	N.A	N.A
Minority Interest	0	0	0	0	0
Common Stock	1.18B	N.A	161.80M	162.60M	162.60M
Treasury Stock	0	N.A	N.A	N.A	N.A
Retained Earnings	-466.9M	-466.9M	-613.1M	-589.2M	-589.2M
Capital Surplus	N.A	1.18B	1.15B	1.13B	1.13B
Shareholder Equity	713.20M	713.20M	543.90M	536.30M	536.30M
Other Liabilities	N.A	N.A	N.A	N.A	N.A

Fortinet Inc balance sheet (2019) (USD)

	December 2019	September 2019	June 2019	March 2019
Current Cash	1.22B	1.18B	1.02B	1.22B
Receivables	544.30M	384.10M	403.10M	381M
Inventory	117.90M	99.20M	85.70M	88.40M
Current Assets	2.77B	2.47B	2.36B	2.31B
Other Current Assets	41.20M	42.60M	41.70M	42.10M
Short Term Investments	843.10M	764.80M	808.10M	584.90M
Long Term Investments	149.60M	209.50M	158.60M	59.30M
Property/Plant Equipment	388.60M	346.50M	322M	311.20M
Good Will	N.A	N.A	N.A	N.A
Intangible Assets	31.10M	14M	16.20M	19.10M
Tangible Assets (Net)	1.12B	1.07B	0.99B	0.93B
Other Assets	247.40M	227.50M	214.90M	201.90M
Total Assets	3.89B	3.55B	3.37B	3.21B
Accounts Payable	96.40M	85.90M	72.40M	69.20M
Other Current Liabilities	1.36B	1.23B	1.19B	1.15B
Total Current Liabilities	1.47B	1.34B	1.29B	1.25B
Total Liabilities	2.56B	2.35B	2.25B	2.15B
Long Term Debt	30.60M	27.70M	25.80M	27.50M
Current Long Term Debt	N.A	N.A	N.A	N.A
Minority Interest	0	0	0	0
Common Stock	171.70M	171.30M	171M	170.70M
Treasury Stock	N.A	N.A	N.A	N.A
Retained Earnings	140.30M	46.50M	-9M	-50M
Capital Surplus	1.18B	1.15B	1.13B	1.11B
Shareholder Equity	1.32B	1.20B	1.12B	1.06B
Other Liabilities	N.A	N.A	N.A	N.A

Fortinet Inc balance sheet (2018) (USD)

	December 2018	September 2018	June 2018	March 2018
Current Cash	1.11B	1.17B	0.97B	835.60M
Receivables	444.50M	324.40M	333.60M	313.10M
Inventory	90M	80.80M	78.20M	80M
Current Assets	2.22B	2.08B	1.88B	1.74B
Other Current Assets	36.80M	38.70M	39.30M	38.80M
Short Term Investments	537.20M	464.90M	461.60M	468.30M
Long Term Investments	76.10M	47.70M	77.40M	94.60M
Property/Plant Equipment	271.40M	265.40M	256M	245.10M
Good Will	N.A	N.A	N.A	N.A
Intangible Assets	22.10M	18.10M	21.40M	14.50M
Tangible Assets (Net)	881.90M	792.10M	681.10M	624.20M
Other Assets	194.30M	180.70M	169.10M	157.40M
Total Assets	3.08B	2.76B	2.58B	2.40B
Accounts Payable	86.40M	66.60M	63.70M	55.70M
Other Current Liabilities	1.14B	1.02B	1B	0.96B
Total Current Liabilities	1.26B	1.11B	1.09B	1.03B
Total Liabilities	2.07B	1.87B	1.80B	1.71B
Long Term Debt	N.A	N.A	N.A	N.A
Current Long Term Debt	N.A	N.A	N.A	N.A
Minority Interest	0	0	0	0
Common Stock	169.80M	170.30M	169M	168M
Treasury Stock	N.A	N.A	N.A	N.A
Retained Earnings	-57.5M	-156M	-214.7M	-262.6M
Capital Surplus	1.07B	1.05B	1B	0.96B
Shareholder Equity	1.01B	891.60M	780.20M	693.50M
Other Liabilities	N.A	N.A	N.A	N.A

Fortinet Inc balance sheet (2017) (USD)

	December 2017	September 2017	June 2017
Current Cash	811M	0.91B	853.14M
Receivables	348.19M	258M	274.48M
Inventory	77.29M	73.60M	86.44M
Current Assets	1.72B	1.65B	1.60B
Other Current Assets	40.07M	43.30M	36.40M
Short Term Investments	440.27M	369.96M	354.19M
Long Term Investments	110.12M	259.98M	269.72M
Property/Plant Equipment	245.40M	239.89M	238.51M
Good Will	N.A	N.A	N.A
Intangible Assets	16.26M	18.29M	20.33M
Tangible Assets (Net)	520.19M	833.04M	852.95M
Other Assets	7.84M	7.20M	5.91M
Total Assets	2.26B	2.40B	2.36B
Accounts Payable	70.01M	44.54M	42.17M
Other Current Liabilities	0.94B	850.23M	828.16M
Total Current Liabilities	1.03B	0.91B	885.52M
Total Liabilities	1.67B	1.49B	1.44B
Long Term Debt	N.A	N.A	N.A
Current Long Term Debt	N.A	N.A	N.A
Minority Interest	0	0	0
Common Stock	167.89M	174.63M	175.74M
Treasury Stock	N.A	N.A	N.A
Retained Earnings	-319.58M	-9.59M	42.35M
Capital Surplus	0.91B	0.91B	880.14M
Shareholder Equity	589.38M	0.90B	0.92B
Other Liabilities	N.A	N.A	N.A

Fortinet Inc cash flow (2023) (USD)

	February 2023
Net Income	313.80M
Depreciation	27.30M
Changes in Receivables	1.26B
Changes in Inventories	264.60M
Cash Change	2.21B
Cash Flow	528.10M
Capital Expenditures	-30.9M
Investments	N.A
Investing Activity (other)	N.A
Total Investing Cash Flows	217.40M
Dividends Paid	N.A
Net Borrowings	-1.29B
Other Financing Cash Flows	N.A
Cash Flow Financing	-27.4M
Exchange Rate Effect	N.A

Fortinet Inc cash flow (2022) (USD)

	November 2022	August 2022
Net Income	231.60M	173.50M
Depreciation	26.40M	25.10M
Changes in Receivables	0.96B	0.92B
Changes in Inventories	215.80M	195.20M
Cash Change	1.73B	1.75B
Cash Flow	483M	323.40M
Capital Expenditures	-87.8M	-39.9M
Investments	N.A	N.A
Investing Activity (other)	N.A	N.A
Total Investing Cash Flows	297.80M	294.10M
Dividends Paid	N.A	N.A
Net Borrowings	-813.3M	-848.8M
Other Financing Cash Flows	N.A	N.A
Cash Flow Financing	-526.6M	-830.3M
Exchange Rate Effect	N.A	N.A

Fortinet Inc cash flow (2021) (USD)

	November 2021
Net Income	163.10M
Depreciation	22.90M
Changes in Receivables	604.90M
Changes in Inventories	177.90M
Cash Change	3.12B
Cash Flow	398.80M
Capital Expenditures	-69M
Investments	N.A
Investing Activity (other)	N.A
Total Investing Cash Flows	-307.5M
Dividends Paid	N.A
Net Borrowings	-2.18B
Other Financing Cash Flows	N.A
Cash Flow Financing	1.55B
Exchange Rate Effect	N.A

Fortinet Inc cash flow (2020) (USD)

	November 2020	September 2020	June 2020	March 2020
Net Income	123.40M	123.40M	112.10M	104M
Depreciation	52.10M	116.50M	17.80M	17.60M
Changes in Receivables	47.90M	-47.9M	-24M	69.60M
Changes in Inventories	8.50M	-13.1M	-24.6M	6.70M
Cash Change	129.80M	-34.1M	290.30M	-596.4M
Cash Flow	787.20M	220.80M	247M	319.40M
Capital Expenditures	-93.6M	-35.1M	-30.9M	-27.6M
Investments	N.A	-183.4M	243.10M	35.70M
Investing Activity (other)	N.A	N.A	N.A	-400K
Total Investing Cash Flows	-7.8M	-224.6M	212.20M	4.60M
Dividends Paid	N.A	N.A	N.A	N.A
Net Borrowings	-1.7B	-4.1M	N.A	N.A
Other Financing Cash Flows	N.A	-28.7M	-21.1M	-37.9M
Cash Flow Financing	-1.12B	-30.3M	-168.9M	-0.92B
Exchange Rate Effect	N.A	N.A	N.A	N.A

Fortinet Inc cash flow (2019) (USD)

	December 2019	September 2019	June 2019	March 2019
Net Income	115.20M	79.80M	72.70M	58.80M
Depreciation	15.70M	15M	15.20M	15.70M
Changes in Receivables	-160.2M	19M	-22.1M	63.50M
Changes in Inventories	-23.3M	-19.7M	-2.9M	-2.6M
Cash Change	47M	153.40M	-194.8M	104.50M
Cash Flow	190.40M	221.20M	195.10M	201.30M
Capital Expenditures	-47.2M	-17.5M	-17.3M	-10.2M
Investments	-17.8M	-9.6M	-319.3M	-28.8M
Investing Activity (other)	N.A	N.A	N.A	N.A
Total Investing Cash Flows	-99.6M	-27.1M	-336.6M	-39M
Dividends Paid	N.A	N.A	N.A	N.A
Net Borrowings	-3.7M	N.A	N.A	N.A
Other Financing Cash Flows	-20.3M	-19.5M	-24.5M	-32M
Cash Flow Financing	-43.8M	-40.7M	-53.3M	-57.8M
Exchange Rate Effect	N.A	N.A	N.A	N.A

Fortinet Inc cash flow (2018) (USD)

	December 2018	September 2018	June 2018	March 2018
Net Income	182.60M	58.70M	49.30M	41.60M
Depreciation	14.70M	14.20M	13.60M	13.20M
Changes in Receivables	-120.1M	9.20M	-20.5M	35.09M
Changes in Inventories	-14.4M	-8.2M	-3.5M	-7.3M
Cash Change	-56.9M	197.20M	136.50M	24.60M
Cash Flow	180.20M	176.70M	142.30M	139.70M
Capital Expenditures	-11.6M	-18.2M	-11.6M	-11.6M
Investments	-100.2M	29.30M	24.60M	-13.9M
Investing Activity (other)	N.A	N.A	N.A	N.A
Total Investing Cash Flows	-127.5M	11.10M	7M	-25.5M
Dividends Paid	N.A	N.A	N.A	N.A
Net Borrowings	-600K	N.A	-9.5M	N.A
Other Financing Cash Flows	-19.2M	-15.5M	-13.3M	-19.2M
Cash Flow Financing	-109.6M	9.40M	-12.8M	-89.6M
Exchange Rate Effect	N.A	N.A	N.A	N.A

Fortinet Inc cash flow (2017) (USD)

	December 2017	September 2017	June 2017
Net Income	-28.96M	26.61M	23.03M
Depreciation	14.27M	13.72M	14M
Changes in Receivables	-90.19M	16.48M	-4.37M
Changes in Inventories	-8.26M	7.94M	13.30M
Cash Change	-94.79M	52.66M	29.89M
Cash Flow	157.54M	162.34M	144.77M
Capital Expenditures	-13.67M	-21.75M	-86.36M
Investments	78.95M	-7.16M	4.52M
Investing Activity (other)	N.A	N.A	N.A
Total Investing Cash Flows	65.28M	-28.91M	-81.84M
Dividends Paid	N.A	N.A	N.A
Net Borrowings	N.A	N.A	N.A
Other Financing Cash Flows	-9.27M	-9.97M	-12.2M
Cash Flow Financing	-317.61M	-80.77M	-33.04M
Exchange Rate Effect	N.A	N.A	N.A