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FFIVF5, Inc.

Technology · Networking Equipment · Nasdaq
FFIV quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 9.7%, free cash flow up to $906.4M

XBRL, from each 10-K
RevenueStatements ↓
$3.1B
from $2.8B in FY2024
FY2016FY2025
Net incomeStatements ↓
$692.4M
from $566.8M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$906.4M
from $762.0M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$11.80
from $9.55 in FY2024
FY2016FY2025
Operating marginStatements ↓
24.8%
from 23.4% in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (39, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)12.55Sales (ttm)3.3BNet income (ttm)726.5MSales growth+9.7%EPS growth+23.6%Sales Q/Q+10.9%
Free cash flow969.6MGross margin81.9%Oper. margin24.5%Net margin22.0%FCF margin29.3%ROE18.8%
ROA10.6%R&D / sales17.5%Dividend-Debt/Eq-Curr. ratio1.66Cash1.6B
Op. cash flow (ttm)1.0BEBITDA858.3MEBITDA margin27.8%Quick ratio1.62ROIC17.0%Tax rate14.3%
Stock pay / sales7.5%Shares out.56.6MShares Y/Y-1.1%Book / share68.09Cash / share28.36Sales / share58.44
Asset turnover0.48Inventory turns7.43Days sales out.49Sales 3Y CAGR+4.6%Sales 5Y CAGR+5.6%EPS 3Y CAGR+30.8%
EPS 5Y CAGR+18.7%Employees6,578Sales / employee503K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth sped up to +9.7%+0.1% → +9.7% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

FFIV against Technology peers

Ten years, side by side → · All 75 →
GrowthProfitBalanceCleanInsiders
FFIVPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth
+9.7%50th of 75 · median +14.1%
Net margin
22.0%32nd of 75 · median 19.1%
Return on equity
18.8%41st of 69 · median 23.9%
Free cash flow margin
29.3%25th of 71 · median 22.3%
FFIV and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
FFIV F5, Inc.$3.3B +9.7%81.9%22.0%18.8%29.3%-
SWKS Skyworks Solutions$4.0B -2.2%40.7%7.2%5.1%10.8%0.09
TRMB Trimble Inc.$3.8B -2.6%69.6%-4.1%-3.2%20.7%0.31
LITE Lumentum$3.7B +83.2%45.9%-175.8%-143.9%9.5%0.60
MPWR Monolithic Power Systems$3.7B +26.4%55.3%23.9%23.9%16.3%-
PTC PTC Inc.$3.0B +19.2%84.5%41.4%35.3%31.7%0.40
Where each dollar goes

From $2.6B of sales to $331.2M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $2.1BRevenue to Cost of revenue: $493.1MGross profit to Operating profit: $394.0MGross profit to Operating expenses: $1.7BOperating profit to Net profit: $331.2MOperating profit to Tax & other: $62.8MOperating expenses to R&D: $512.6MOperating expenses to Sales, admin & other: $1.2B Revenue: $2.6B Revenue$2.6B +11% Y/Y Gross profit: $2.1B · 81% margin Gross profit$2.1B81% margin +9% Y/Y Cost of revenue: $493.1M · 19% of revenue Cost of revenue$493.1M19% of revenue Operating profit: $394.0M · 15% margin Operating profit$394.0M15% margin +0% Y/Y Operating expenses: $1.7B · 66% of revenue Operating expenses$1.7B66% of revenue Net profit: $331.2M · 13% margin Net profit$331.2M13% margin +8% Y/Y Tax & other: $62.8M · 2% of revenue Tax & other$62.8M2% of revenue R&D: $512.6M · 20% of revenue R&D$512.6M20% of revenue Sales, admin & other: $1.2B · 46% of revenue Sales, admin & other$1.2B46% of revenue

Swipe sideways for the whole flow →

From $2.7B of sales to $322.2M of profit

FY2022, from the 10-K income statement and revenue by product
Service to Revenue: $1.4BProduct to Revenue: $1.3BRevenue to Gross profit: $2.2BRevenue to Cost of revenue: $539.6MGross profit to Operating profit: $403.8MGross profit to Operating expenses: $1.8BOperating profit to Net profit: $322.2MOperating profit to Tax & other: $81.6MOperating expenses to R&D: $543.4MOperating expenses to Sales, admin & other: $1.2B Service: $1.4B · 51% Service$1.4B51% Product: $1.3B · 49% Product$1.3B49% Revenue: $2.7B Revenue$2.7B +4% Y/Y Gross profit: $2.2B · 80% margin Gross profit$2.2B80% margin +2% Y/Y Cost of revenue: $539.6M · 20% of revenue Cost of revenue$539.6M20% of revenue Operating profit: $403.8M · 15% margin Operating profit$403.8M15% margin +2% Y/Y Operating expenses: $1.8B · 65% of revenue Operating expenses$1.8B65% of revenue Net profit: $322.2M · 12% margin Net profit$322.2M12% margin −3% Y/Y Tax & other: $81.6M · 3% of revenue Tax & other$81.6M3% of revenue R&D: $543.4M · 20% of revenue R&D$543.4M20% of revenue Sales, admin & other: $1.2B · 45% of revenue Sales, admin & other$1.2B45% of revenue

Swipe sideways for the whole flow →

From $2.8B of sales to $394.9M of profit

FY2023, from the 10-K income statement and revenue by product
Service to Revenue: $1.5BProduct to Revenue: $1.3BRevenue to Gross profit: $2.2BRevenue to Cost of revenue: $593.3MGross profit to Operating profit: $472.6MGross profit to Operating expenses: $1.7BOperating profit to Net profit: $394.9MOperating profit to Tax & other: $77.6MOperating expenses to R&D: $540.3MOperating expenses to Sales, admin & other: $1.2B Service: $1.5B · 53% Service$1.5B53% Product: $1.3B · 47% Product$1.3B47% Revenue: $2.8B Revenue$2.8B +4% Y/Y Gross profit: $2.2B · 79% margin Gross profit$2.2B79% margin +3% Y/Y Cost of revenue: $593.3M · 21% of revenue Cost of revenue$593.3M21% of revenue Operating profit: $472.6M · 17% margin Operating profit$472.6M17% margin +17% Y/Y Operating expenses: $1.7B · 62% of revenue Operating expenses$1.7B62% of revenue Net profit: $394.9M · 14% margin Net profit$394.9M14% margin +23% Y/Y Tax & other: $77.6M · 3% of revenue Tax & other$77.6M3% of revenue R&D: $540.3M · 19% of revenue R&D$540.3M19% of revenue Sales, admin & other: $1.2B · 43% of revenue Sales, admin & other$1.2B43% of revenue

Swipe sideways for the whole flow →

From $2.8B of sales to $566.8M of profit

FY2024, from the 10-K income statement and revenue by product
Service to Revenue: $1.5BProduct to Revenue: $1.3BRevenue to Gross profit: $2.3BRevenue to Cost of revenue: $557.6MGross profit to Operating profit: $658.6MGross profit to Operating expenses: $1.6BOperating profit to Net profit: $529.9MOperating profit to Tax: $128.7MOther income to Net profit: $36.9MOperating expenses to R&D: $490.1MOperating expenses to Sales, admin & other: $1.1B Service: $1.5B · 55% Service$1.5B55% Product: $1.3B · 45% Product$1.3B45% Revenue: $2.8B Revenue$2.8B +0% Y/Y Gross profit: $2.3B · 80% margin Gross profit$2.3B80% margin +2% Y/Y Cost of revenue: $557.6M · 20% of revenue Cost of revenue$557.6M20% of revenue Operating profit: $658.6M · 23% margin Operating profit$658.6M23% margin +39% Y/Y Other income: $36.9M · 1% of revenue Other income$36.9M1% of revenue Operating expenses: $1.6B · 57% of revenue Operating expenses$1.6B57% of revenue Net profit: $566.8M · 20% margin Net profit$566.8M20% margin +44% Y/Y Tax: $128.7M · 5% of revenue Tax$128.7M5% of revenue R&D: $490.1M · 17% of revenue R&D$490.1M17% of revenue Sales, admin & other: $1.1B · 39% of revenue Sales, admin & other$1.1B39% of revenue

Swipe sideways for the whole flow →

From $3.1B of sales to $692.4M of profit

FY2025, from the 10-K income statement and revenue by product
Service to Revenue: $1.6BProduct to Revenue: $1.5BRevenue to Gross profit: $2.5BRevenue to Cost of revenue: $574.0MGross profit to Operating profit: $765.9MGross profit to Operating expenses: $1.7BOperating profit to Net profit: $650.0MOperating profit to Tax: $116.0MOther income to Net profit: $42.4MOperating expenses to R&D: $539.8MOperating expenses to Sales, admin & other: $1.2B Service: $1.6B · 51% Service$1.6B51% Product: $1.5B · 49% Product$1.5B49% Revenue: $3.1B Revenue$3.1B +10% Y/Y Gross profit: $2.5B · 81% margin Gross profit$2.5B81% margin +11% Y/Y Cost of revenue: $574.0M · 19% of revenue Cost of revenue$574.0M19% of revenue Operating profit: $765.9M · 25% margin Operating profit$765.9M25% margin +16% Y/Y Other income: $42.4M · 1% of revenue Other income$42.4M1% of revenue Operating expenses: $1.7B · 57% of revenue Operating expenses$1.7B57% of revenue Net profit: $692.4M · 22% margin Net profit$692.4M22% margin +22% Y/Y Tax: $116.0M · 4% of revenue Tax$116.0M4% of revenue R&D: $539.8M · 17% of revenue R&D$539.8M17% of revenue Sales, admin & other: $1.2B · 39% of revenue Sales, admin & other$1.2B39% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax, less other income
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4
  • ✓
    Net margin above the peer median22.0% vs 19.1%
  • !
    Gross margin down over 5 years82.6% → 81.4%
  • ✓
    Return on equity above 15%18.8%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 18.3% → 22.4%

Cash and shareholders

3 of 3
  • ✓
    Free cash flow positive in every one of 10 years$906.4M last year
  • ✓
    Share count down over 5 years−4.4%
  • ✓
    Cash from operations above net income$949.7M vs $692.4M
Free cash flow, FY2016 to FY2025: 648.0M → 906.4M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2016 to FY2025

Revenue 3.1B Net income 692.4M
FY2016 revenue 2.0B · SalesRevenueNet, 0001048695-18-000031 FY2016 net income 365.9M · NetIncomeLoss, 0001048695-18-000031 2.0B FY2016 FY2017 revenue 2.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-19-000034 FY2017 net income 420.8M · NetIncomeLoss, 0001048695-19-000034 2.1B FY2017 FY2018 revenue 2.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-20-000041 FY2018 net income 453.7M · NetIncomeLoss, 0001048695-20-000041 2.2B FY2018 FY2019 revenue 2.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-21-000044 FY2019 net income 427.7M · NetIncomeLoss, 0001048695-21-000044 2.2B FY2019 FY2020 revenue 2.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-22-000033 FY2020 net income 307.4M · NetIncomeLoss, 0001048695-22-000033 2.4B FY2020 FY2021 revenue 2.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-23-000039 FY2021 net income 331.2M · NetIncomeLoss, 0001048695-23-000039 2.6B FY2021 FY2022 revenue 2.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-24-000185 FY2022 net income 322.2M · NetIncomeLoss, 0001048695-24-000185 2.7B FY2022 FY2023 revenue 2.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-25-000157 FY2023 net income 394.9M · NetIncomeLoss, 0001048695-25-000157 2.8B FY2023 FY2024 revenue 2.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-25-000157 FY2024 net income 566.8M · NetIncomeLoss, 0001048695-25-000157 2.8B FY2024 FY2025 revenue 3.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001048695-25-000157 FY2025 net income 692.4M · NetIncomeLoss, 0001048695-25-000157 3.1B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

FFIV's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue3.1B
FY2016: 2.0BFY2017: 2.1BFY2018: 2.2BFY2019: 2.2BFY2020: 2.4BFY2021: 2.6BFY2022: 2.7BFY2023: 2.8BFY2024: 2.8BFY2025: 3.1B FY2017FY2019FY2021FY2023FY2025
Net income692.4M
FY2016: 365.9MFY2017: 420.8MFY2018: 453.7MFY2019: 427.7MFY2020: 307.4MFY2021: 331.2MFY2022: 322.2MFY2023: 394.9MFY2024: 566.8MFY2025: 692.4M FY2017FY2019FY2021FY2023FY2025
Free cash flow906.4M
FY2016: 648.0MFY2017: 701.6MFY2018: 707.6MFY2019: 644.3MFY2020: 601.0MFY2021: 614.5MFY2022: 409.0MFY2023: 599.2MFY2024: 762.0MFY2025: 906.4M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)11.80
FY2016: 5.38FY2017: 6.50FY2018: 7.32FY2019: 7.08FY2020: 5.01FY2021: 5.34FY2022: 5.27FY2023: 6.55FY2024: 9.55FY2025: 11.80 FY2017FY2019FY2021FY2023FY2025
Diluted shares58.7M
FY2016: 68.0MFY2017: 64.8MFY2018: 62.0MFY2019: 60.5MFY2020: 61.4MFY2021: 62.1MFY2022: 61.1MFY2023: 60.3MFY2024: 59.4MFY2025: 58.7M FY2017FY2019FY2021FY2023FY2025

Revenue by product or service

year to Sep 30, 2025
RevenueSharevs year before
Service 1.6B51.1% +2.3%
Product 1.5B48.9% +18.5%

10-K 0001048695-25-000157, segment and revenue notes (XBRL).

Revenue by region

year to Sep 30, 2025
RevenueSharevs year before
Total Americas 1.7B55.8% +9.0%
United States 1.6B52.8% +9.6%
EMEA 827.2M26.8% +9.4%
APAC 536.8M17.4% +12.1%
Other Americas 92.9M3.0% 0.0%

10-K 0001048695-25-000157, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue2.0B2.1B2.2B2.2B2.4B2.6B2.7B2.8B2.8B3.1B
Cost of revenue337.2M353.5M361.5M356.6M407.9M493.1M539.6M593.3M557.6M574.0M
Gross profit1.7B1.7B1.8B1.9B1.9B2.1B2.2B2.2B2.3B2.5B
R&D334.2M350.4M366.1M408.1M441.3M512.6M543.4M540.3M490.1M539.8M
SG&A138.4M156.9M160.4M210.7M258.4M273.6M274.6M263.4M268.8M322.3M
Operating income547.4M564.0M590.9M518.5M392.3M394.0M403.8M472.6M658.6M765.9M
Interest expense--006.6M5.3M8.0M3.0M00
Pretax income549.9M575.5M603.8M541.1M396.4M386.9M385.4M486.0M695.5M808.3M
Income tax184.0M154.8M150.1M113.4M89.0M55.7M63.2M91.0M128.7M116.0M
Net income365.9M420.8M453.7M427.7M307.4M331.2M322.2M394.9M566.8M692.4M
EPS (diluted)5.386.507.327.085.015.345.276.559.5511.80
Diluted shares68.0M64.8M62.0M60.5M61.4M62.1M61.1M60.3M59.4M58.7M
Depreciation & amortization56.8M61.1M59.5M68.5M95.9M115.4M115.6M112.7M107.0M92.4M
EBITDA604.2M625.1M650.4M587.0M488.1M509.4M519.4M585.3M765.6M858.3M
Gross margin83.1%83.1%83.3%84.1%82.6%81.1%80.0%78.9%80.2%81.4%
Operating margin27.4%27.0%27.3%23.1%16.7%15.1%15.0%16.8%23.4%24.8%
Net margin18.3%20.1%21.0%19.1%13.1%12.7%12.0%14.0%20.1%22.4%
Revenue growth-+4.8%+3.4%+3.7%+4.8%+10.7%+3.6%+4.4%+0.1%+9.7%
EPS growth-+20.8%+12.6%-3.3%-29.2%+6.6%-1.3%+24.3%+45.8%+23.6%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash514.6M673.2M424.7M599.2M849.6M581.0M758.0M797.2M1.1B1.3B
Short-term investments367.8M343.7M614.7M373.1M360.3M329.6M126.6M6.2M00
Receivables268.2M291.9M295.4M322.0M296.2M340.5M470.0M454.8M389.0M414.4M
Inventory34.1M29.8M30.6M34.4M27.9M22.1M68.4M35.9M76.4M77.2M
Current assets1.3B1.4B1.4B1.5B1.8B1.6B1.9B1.8B2.1B2.5B
Property & equipment123.2M122.4M145.0M223.4M229.2M191.2M168.2M170.4M150.9M156.9M
Goodwill556.0M556.0M556.0M1.1B1.9B2.2B2.3B2.3B2.3B2.4B
Total assets2.3B2.5B2.6B3.4B4.7B5.0B5.3B5.2B5.6B6.3B
Accounts payable34.1M50.8M57.8M62.6M64.5M62.1M113.2M63.3M67.9M84.0M
Current liabilities844.2M934.5M954.4M1.1B1.3B1.4B1.8B1.5B1.5B1.6B
Total debt---0388.3M369.0M349.8M---
Total liabilities---1.6B------
Shareholders' equity1.2B1.2B1.3B1.8B2.2B2.4B2.5B2.8B3.1B3.6B
Retained earnings1.2B1.2B1.3B1.6B1.9B2.2B2.4B2.8B3.1B3.6B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow711.5M740.3M761.1M747.8M660.9M645.2M442.6M653.4M792.4M949.7M
Capital spending63.5M38.7M53.5M103.5M59.9M30.7M33.6M54.2M30.4M43.3M
Free cash flow648.0M701.6M707.6M644.3M601.0M614.5M409.0M599.2M762.0M906.4M
Stock-based pay (added back)156.8M175.3M157.9M162.9M201.9M243.3M249.2M236.7M219.1M231.5M
Buybacks700.1M600.1M600.1M201.0M100.0M500.0M500.0M350.0M500.6M502.1M
Acquisitions000611.5M955.6M411.3M67.9M35.0M32.9M171.1M
Debt raised--00400.0M00---
Debt repaid--0010.0M20.0M20.0M350.0M00
Investing cash flow62.7M-32.2M-456.0M-414.6M-747.0M-445.3M218.1M36.4M-59.2M-219.5M
Financing cash flow-652.6M-546.0M-551.3M-155.4M337.2M-468.3M-476.5M-653.3M-457.0M-464.8M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)156.8M175.3M157.9M162.9M201.9M243.3M249.2M236.7M219.1M231.5M
Stock-based pay / revenue7.9%8.4%7.3%7.3%8.6%9.3%9.2%8.4%7.8%7.5%
Operating lease cost----49.9M48.0M47.3M47.0M40.7M39.6M
Operating lease cash paid--0060.6M61.5M58.6M52.9M53.3M44.6M
Right-of-use assets---0300.7M244.9M227.5M195.5M178.2M185.6M
Operating lease liabilities---0384.7M346.2M314.9M281.0M249.6M261.8M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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