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F5 INC Financials

FFIV
Source SEC Filings (10-K/10-Q) Updated Feb 5, 2026 Currency USD FYE September

This page shows F5 INC (FFIV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 65 / 100
Financial Profile 65/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
77

F5 INC has an operating margin of 24.8%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is up from 23.4% the prior year.

Growth
49

F5 INC's revenue grew 9.7% year-over-year to $3.1B, a solid pace of expansion. This earns a growth score of 49/100.

Leverage
87

F5 INC carries a low D/E ratio of 0.76, meaning only $0.76 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
27

F5 INC's current ratio of 1.56 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.

Cash Flow
98

F5 INC converts 29.3% of revenue into free cash flow ($906.4M). This strong cash generation earns a score of 98/100.

Returns
54

F5 INC's ROE of 19.3% shows moderate profitability relative to equity, earning a score of 54/100. This is up from 18.1% the prior year.

Altman Z-Score Safe
5.62

F5 INC scores 5.62, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($17.1B) relative to total liabilities ($2.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
7/9

F5 INC passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.37x

For every $1 of reported earnings, F5 INC generates $1.37 in operating cash flow ($949.7M OCF vs $692.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.1B
YoY+9.7%
5Y CAGR+5.6%
10Y CAGR+4.9%

F5 INC generated $3.1B in revenue in fiscal year 2025. This represents an increase of 9.7% from the prior year.

EBITDA
$858.3M
YoY+12.1%
5Y CAGR+12.0%
10Y CAGR+3.6%

F5 INC's EBITDA was $858.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.1% from the prior year.

Net Income
$692.4M
YoY+22.2%
5Y CAGR+17.6%
10Y CAGR+6.6%

F5 INC reported $692.4M in net income in fiscal year 2025. This represents an increase of 22.2% from the prior year.

EPS (Diluted)
$11.80
YoY+23.6%
5Y CAGR+18.7%
10Y CAGR+8.9%

F5 INC earned $11.80 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$906.4M
YoY+18.9%
5Y CAGR+8.6%
10Y CAGR+3.8%

F5 INC generated $906.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 18.9% from the prior year.

Cash & Debt
$1.3B
YoY+25.1%
5Y CAGR+9.6%
10Y CAGR+13.2%

F5 INC held $1.3B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
58M
YoY-0.9%
5Y CAGR-1.2%
10Y CAGR-1.9%

F5 INC had 58M shares outstanding in fiscal year 2025. This represents a decrease of 0.9% from the prior year.

Margins & Returns

Gross Margin
81.4%
YoY+1.2pp
5Y CAGR-1.2pp
10Y CAGR-1.3pp

F5 INC's gross margin was 81.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.

Operating Margin
24.8%
YoY+1.4pp
5Y CAGR+8.1pp
10Y CAGR-4.0pp

F5 INC's operating margin was 24.8% in fiscal year 2025, reflecting core business profitability. This is up 1.4 percentage points from the prior year.

Net Margin
22.4%
YoY+2.3pp
5Y CAGR+9.3pp
10Y CAGR+3.4pp

F5 INC's net profit margin was 22.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.3 percentage points from the prior year.

Return on Equity
19.3%
YoY+1.2pp
5Y CAGR+5.5pp
10Y CAGR-8.4pp

F5 INC's ROE was 19.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.2 percentage points from the prior year.

Capital Allocation

R&D Spending
$539.8M
YoY+10.1%
5Y CAGR+4.1%
10Y CAGR+6.2%

F5 INC invested $539.8M in research and development in fiscal year 2025. This represents an increase of 10.1% from the prior year.

Share Buybacks
$502.1M
YoY+0.3%
5Y CAGR+38.1%
10Y CAGR-1.9%

F5 INC spent $502.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.3% from the prior year.

Capital Expenditures
$43.3M
YoY+42.2%
5Y CAGR-6.3%
10Y CAGR-3.3%

F5 INC invested $43.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 42.2% from the prior year.

FFIV Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $410K-100.0% $822.5M+1.5% $810.1M+3.8% $780.4M+6.7% $731.1M-4.6% $766.5M+2.7% $746.7M+7.4% $695.5M
Cost of Revenue $92K-99.9% $151.8M+5.5% $143.9M-3.2% $148.6M+5.4% $141.0M+0.3% $140.5M-2.2% $143.7M+5.3% $136.4M
Gross Profit $318K-100.0% $670.7M+0.7% $666.2M+5.5% $631.7M+7.0% $590.2M-5.7% $626.0M+3.8% $603.0M+7.8% $559.1M
R&D Expenses $141K-99.9% $141.2M+3.5% $136.4M0.0% $136.3M-0.2% $136.6M+4.6% $130.5M+5.3% $124.0M-0.4% $124.4M
SG&A Expenses $91K-99.9% $90.6M-3.6% $94.0M+19.5% $78.7M+2.6% $76.6M+5.0% $73.0M+2.9% $71.0M+7.6% $66.0M
Operating Income $214K-99.9% $214.2M+4.1% $205.7M+4.8% $196.3M+23.5% $158.9M-22.5% $205.1M+7.4% $191.0M+17.1% $163.1M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $43K-99.9% $42.9M+74.4% $24.6M+6.3% $23.1M-10.0% $25.7M-39.7% $42.6M+11.5% $38.2M+38.8% $27.5M
Net Income $180K-99.9% $180.1M-5.5% $190.5M+0.3% $189.9M+30.5% $145.5M-12.6% $166.4M+0.7% $165.3M+14.7% $144.1M
EPS (Diluted) $3.100.0% $3.10 N/A $3.25+31.0% $2.48-12.1% $2.82 N/A $2.44

FFIV Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $6.3M-99.9% $6.3B-0.4% $6.3B+3.4% $6.1B+3.5% $5.9B+0.1% $5.9B+5.1% $5.6B+3.7% $5.4B
Current Assets $2.5M-99.9% $2.5B-0.1% $2.5B+1.4% $2.5B+6.4% $2.3B-0.2% $2.3B+11.0% $2.1B+6.2% $2.0B
Cash & Equivalents $1.2M-99.9% $1.2B-10.8% $1.3B-5.8% $1.4B+13.3% $1.3B+9.4% $1.2B+7.1% $1.1B+15.0% $934.8M
Inventory $80K-99.9% $79.9M+3.5% $77.2M+15.4% $66.9M-1.4% $67.9M-7.3% $73.2M-4.1% $76.4M-2.7% $78.5M
Accounts Receivable $494K-99.9% $493.6M+19.1% $414.4M+15.2% $359.9M-5.2% $379.6M-21.7% $485.0M+24.7% $389.0M-7.4% $420.0M
Goodwill $2.4M-99.9% $2.4B0.0% $2.4B+5.1% $2.3B+0.2% $2.3B+0.3% $2.3B0.0% $2.3B0.0% $2.3B
Total Liabilities $2.8M-99.9% $2.8B+1.0% $2.7B+3.2% $2.6B+1.9% $2.6B-2.7% $2.7B+7.3% $2.5B+3.3% $2.4B
Current Liabilities $1.6M-99.9% $1.6B+0.4% $1.6B+4.0% $1.6B+1.8% $1.5B-4.0% $1.6B+6.6% $1.5B+2.3% $1.5B
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $3.5M-99.9% $3.5B-1.5% $3.6B+3.5% $3.5B+4.8% $3.3B+2.4% $3.2B+3.4% $3.1B+3.9% $3.0B
Retained Earnings $3.6M-99.9% $3.6B-0.5% $3.6B+3.4% $3.4B+4.7% $3.3B+1.4% $3.3B+3.4% $3.1B+4.3% $3.0B

FFIV Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow $159K-99.9% $159.2M-23.5% $208.1M-26.3% $282.2M+10.0% $256.6M+26.5% $202.8M-17.7% $246.5M+55.1% $159.0M
Capital Expenditures $10K-99.9% $9.7M-39.8% $16.1M+88.9% $8.5M-18.7% $10.5M+30.1% $8.1M+33.2% $6.1M+3.6% $5.8M
Free Cash Flow $149K-99.9% $149.5M-22.1% $191.9M-29.9% $273.7M+11.2% $246.1M+26.4% $194.7M-19.0% $240.4M+57.0% $153.1M
Investing Cash Flow $11K+100.1% -$10.6M+93.6% -$163.8M-552.3% -$25.1M-21.9% -$20.6M-106.6% -$10.0M-73.7% -$5.7M+10.9% -$6.4M
Financing Cash Flow $293K+100.1% -$293.0M-130.4% -$127.2M-36.2% -$93.4M+27.9% -$129.6M-13.0% -$114.7M-12.6% -$101.9M+14.4% -$119.0M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A $125.0M0.0% $125.0M N/A N/A $100.5M-33.0% $150.0M

FFIV Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 77.5%-4.0pp 81.5%-0.7pp 82.2%+1.3pp 81.0%+0.2pp 80.7%-0.9pp 81.7%+0.9pp 80.8%+0.4pp 80.4%
Operating Margin 52.2%+26.2pp 26.0%+0.7pp 25.4%+0.2pp 25.2%+3.4pp 21.7%-5.0pp 26.8%+1.2pp 25.6%+2.1pp 23.4%
Net Margin 43.9%+22.0pp 21.9%-1.6pp 23.5%-0.8pp 24.3%+4.4pp 19.9%-1.8pp 21.7%-0.4pp 22.1%+1.4pp 20.7%
Return on Equity 5.1%0.0pp 5.1%-0.2pp 5.3%-0.2pp 5.5%+1.1pp 4.4%-0.8pp 5.1%-0.1pp 5.3%+0.5pp 4.8%
Return on Assets 2.9%0.0pp 2.9%-0.1pp 3.0%-0.1pp 3.1%+0.6pp 2.5%-0.4pp 2.8%-0.1pp 2.9%+0.3pp 2.7%
Current Ratio 1.550.0 1.550.0 1.56-0.0 1.60+0.1 1.53+0.1 1.48+0.1 1.42+0.1 1.36
Debt-to-Equity 0.780.0 0.78+0.0 0.760.0 0.76-0.0 0.78-0.0 0.82+0.0 0.790.0 0.80
FCF Margin 36.4%+18.3pp 18.2%-5.5pp 23.7%-11.4pp 35.1%+1.4pp 33.7%+8.3pp 25.4%-6.8pp 32.2%+10.2pp 22.0%

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Frequently Asked Questions

F5 INC (FFIV) reported $3.1B in total revenue for fiscal year 2025. This represents a 9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

F5 INC (FFIV) revenue grew by 9.7% year-over-year, from $2.8B to $3.1B in fiscal year 2025.

Yes, F5 INC (FFIV) reported a net income of $692.4M in fiscal year 2025, with a net profit margin of 22.4%.

F5 INC (FFIV) reported diluted earnings per share of $11.80 for fiscal year 2025. This represents a 23.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

F5 INC (FFIV) had EBITDA of $858.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

F5 INC (FFIV) had a gross margin of 81.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

F5 INC (FFIV) had an operating margin of 24.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

F5 INC (FFIV) had a net profit margin of 22.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

F5 INC (FFIV) has a return on equity of 19.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

F5 INC (FFIV) generated $906.4M in free cash flow during fiscal year 2025. This represents a 18.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

F5 INC (FFIV) generated $949.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

F5 INC (FFIV) had $6.3B in total assets as of fiscal year 2025, including both current and long-term assets.

F5 INC (FFIV) invested $43.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

F5 INC (FFIV) invested $539.8M in research and development during fiscal year 2025.

Yes, F5 INC (FFIV) spent $502.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

F5 INC (FFIV) had 58M shares outstanding as of fiscal year 2025.

F5 INC (FFIV) had a current ratio of 1.56 as of fiscal year 2025, which is generally considered healthy.

F5 INC (FFIV) had a debt-to-equity ratio of 0.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

F5 INC (FFIV) had a return on assets of 11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

F5 INC (FFIV) has an Altman Z-Score of 5.62, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

F5 INC (FFIV) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

F5 INC (FFIV) has an earnings quality ratio of 1.37x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

F5 INC (FFIV) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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