F5 (FFIV) Financials

$362.58 -2.01 (-0.55%)

Closing price 04:00 PM Eastern

Extended Trading

$362.72 +0.13 (+0.04%)

As of 04:56 PM Eastern

Annual Income Statements for F5

This table shows F5's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	365	366	421	454	428	307	331	322	395	567	692
Consolidated Net Income / (Loss)	365	366	421	454	428	307	331	322	395	567	692
Net Income / (Loss) Continuing Operations	365	366	421	454	428	307	331	322	395	567	692
Total Pre-Tax Income	561	550	576	604	541	396	387	385	486	695	808
Total Operating Income	553	547	564	591	518	392	394	404	473	659	766
Total Gross Profit	1,588	1,658	1,737	1,800	1,886	1,943	2,110	2,156	2,220	2,258	2,514
Total Revenue	1,920	1,995	2,090	2,161	2,242	2,351	2,603	2,696	2,813	2,816	3,088
Operating Revenue	1,920	1,995	2,090	2,161	2,242	2,351	2,603	2,696	2,813	2,816	3,088
Total Cost of Revenue	332	337	353	361	357	408	493	540	593	558	574
Operating Cost of Revenue	332	337	353	361	357	408	493	540	593	558	574
Total Operating Expenses	1,035	1,110	1,173	1,209	1,367	1,551	1,716	1,752	1,747	1,600	1,748
Selling, General & Admin Expense	136	138	157	160	211	258	274	275	263	269	322
Marketing Expense	603	629	652	664	749	843	930	927	878	832	861
Research & Development Expense	297	334	350	366	408	441	513	543	540	490	540
Restructuring Charge	0.00	0.00	13	18	0.00	7.80	0.00	7.91	65	8.66	25
Total Other Income / (Expense), net	8.45	2.51	12	13	23	4.13	-7.09	-18	13	37	42
Other Income / (Expense), net	8.45	2.51	12	13	23	4.13	-7.09	-18	13	37	42
Income Tax Expense	196	184	155	150	113	89	56	63	91	129	116
Basic Earnings per Share	$5.07	$5.43	$6.56	$7.41	$7.12	$5.05	$5.46	$5.34	$6.59	$9.65	$11.96
Weighted Average Basic Shares Outstanding	71.94M	67.43M	64.17M	61.26M	60.04M	60.91M	60.71M	60.27M	59.91M	58.72M	57.90M
Diluted Earnings per Share	$5.03	$5.38	$6.50	$7.32	$7.08	$5.01	$5.34	$5.27	$6.55	$9.55	$11.80
Weighted Average Diluted Shares Outstanding	72.55M	67.98M	64.78M	62.01M	60.46M	61.38M	62.06M	61.10M	60.27M	59.36M	58.68M
Weighted Average Basic & Diluted Shares Outstanding	72M	67.40M	64.10M	61.20M	60.10M	61.60M	61.23M	60.37M	59.71M	58.61M	58.09M

This table shows F5's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	152	138	119	144	165	166	146	190	190	180	148
Consolidated Net Income / (Loss)	152	138	119	144	165	166	146	190	190	180	148
Net Income / (Loss) Continuing Operations	152	138	119	144	165	166	146	190	190	180	148
Total Pre-Tax Income	175	174	146	172	204	209	171	213	215	223	189
Total Operating Income	172	165	140	163	191	205	159	196	206	214	179
Total Gross Profit	566	556	540	559	603	626	590	632	666	671	661
Total Revenue	707	693	681	695	747	766	731	780	810	822	812
Operating Revenue	707	693	681	695	747	766	731	780	810	822	812
Total Cost of Revenue	141	136	141	136	144	141	141	149	144	152	151
Operating Cost of Revenue	141	136	141	136	144	141	141	149	144	152	151
Total Operating Expenses	394	392	400	396	412	421	431	435	461	456	482
Selling, General & Admin Expense	62	65	67	66	71	73	77	79	94	91	92
Marketing Expense	205	199	211	206	217	206	218	220	216	225	239
Research & Development Expense	128	120	122	124	124	131	137	136	136	141	151
Restructuring Charge	-	8.47	0.09	0.09	-	11	0.00	0.00	14	-0.04	-0.32
Total Other Income / (Expense), net	3.09	9.88	5.97	8.53	12	3.96	12	17	9.42	8.74	10
Other Income / (Expense), net	3.09	9.88	5.97	8.53	12	3.96	12	17	9.42	8.74	10
Income Tax Expense	23	36	27	28	38	43	26	23	25	43	41
Basic Earnings per Share	$2.56	$2.34	$2.02	$2.46	$2.83	$2.85	$2.51	$3.29	$3.31	$3.12	$2.61
Weighted Average Basic Shares Outstanding	59.91M	59.12M	58.79M	58.58M	58.72M	58.31M	57.89M	57.77M	57.90M	57.65M	56.71M
Diluted Earnings per Share	$2.53	$2.32	$2.00	$2.44	$2.79	$2.82	$2.48	$3.25	$3.25	$3.10	$2.58
Weighted Average Diluted Shares Outstanding	60.27M	59.65M	59.58M	59.15M	59.36M	59.06M	58.76M	58.49M	58.68M	58.16M	57.30M
Weighted Average Basic & Diluted Shares Outstanding	59.71M	58.81M	58.61M	58.28M	58.61M	57.65M	57.43M	57.45M	58.09M	56.52M	56.42M

This table details how cash moves in and out of F5's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	117	122	162	-246	178	251	-268	184	37	276	265
Net Cash From Operating Activities	685	712	740	761	748	661	645	443	653	792	950
Net Cash From Continuing Operating Activities	685	712	740	761	748	661	645	443	653	792	950
Net Income / (Loss) Continuing Operations	365	366	421	454	428	307	331	322	395	567	692
Consolidated Net Income / (Loss)	365	366	421	454	428	307	331	322	395	567	692
Depreciation Expense	53	57	61	59	69	96	115	116	113	107	92
Non-Cash Adjustments To Reconcile Net Income	147	159	175	159	179	253	323	295	235	251	269
Changes in Operating Assets and Liabilities, net	120	130	83	89	73	4.72	-125	-291	-89	-133	-104
Net Cash From Investing Activities	-11	63	-32	-456	-415	-747	-445	218	36	-59	-219
Net Cash From Continuing Investing Activities	-11	63	-32	-456	-415	-747	-445	218	36	-59	-219
Purchase of Property, Plant & Equipment	-60	-63	-39	-53	-104	-60	-31	-34	-54	-30	-43
Acquisitions	-6.78	-4.75	-4.00	0.00	-612	-956	-411	-68	-35	-33	-171
Purchase of Investments	-610	-355	-447	-855	-603	-584	-472	-61	-1.79	-2.10	-5.72
Sale and/or Maturity of Investments	667	486	457	452	903	853	469	381	127	6.24	0.55
Net Cash From Financing Activities	-557	-653	-546	-551	-155	337	-468	-477	-653	-457	-465
Net Cash From Continuing Financing Activities	-557	-653	-546	-551	-155	337	-468	-477	-653	-457	-465
Repayment of Debt	-	-	-	0.00	0.00	-13	-20	-20	-350	0.00	0.00
Repurchase of Common Equity	-607	-700	-600	-600	-201	-100	-500	-500	-350	-501	-502
Issuance of Common Equity	40	45	47	49	46	53	66	65	60	55	59
Other Financing Activities, net	9.52	2.61	7.02	0.00	0.00	-2.54	-14	-21	-13	-12	-22
Cash Interest Paid	-	-	-	0.00	0.00	6.57	5.28	7.98	2.97	0.00	0.00
Cash Income Taxes Paid	189	164	163	105	101	80	99	110	192	182	206

This table details how cash moves in and out of F5's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	121	23	81	34	139	78	106	164	-83	-144	244
Net Cash From Operating Activities	190	165	222	159	247	203	257	282	208	159	366
Net Cash From Continuing Operating Activities	190	165	222	159	247	203	257	285	205	159	366
Net Income / (Loss) Continuing Operations	152	138	119	144	165	166	146	190	190	180	148
Consolidated Net Income / (Loss)	152	138	119	144	165	166	146	190	190	180	148
Depreciation Expense	30	29	28	27	23	23	22	22	25	25	25
Non-Cash Adjustments To Reconcile Net Income	61	55	48	84	64	57	59	61	91	58	81
Changes in Operating Assets and Liabilities, net	-53	-58	27	-96	-5.84	-44	29	12	-101	-104	113
Net Cash From Investing Activities	-7.57	-7.14	-40	-6.45	-5.74	-9.97	-21	-25	-164	-11	-19
Net Cash From Continuing Investing Activities	-7.57	-7.14	-40	-6.45	-5.74	-9.97	-21	-25	-164	-11	-19
Purchase of Property, Plant & Equipment	-15	-9.05	-9.46	-5.85	-6.06	-8.07	-11	-8.54	-16	-9.72	-18
Purchase of Investments	-	-1.00	-	-0.60	-0.50	-1.90	-	-2.50	-1.32	-2.18	-0.73
Sale and/or Maturity of Investments	7.82	2.91	2.51	-	0.82	0.00	-	-	0.55	1.34	0.40
Net Cash From Financing Activities	-61	-135	-101	-119	-102	-115	-130	-93	-127	-293	-103
Net Cash From Continuing Financing Activities	-61	-135	-101	-119	-102	-115	-130	-93	-127	-293	-103
Repurchase of Common Equity	-60	-150	-100	-150	-101	-125	-127	-125	-125	-301	-100
Issuance of Common Equity	0.46	22	0.68	32	0.21	24	0.18	35	0.13	23	0.10
Other Financing Activities, net	-1.84	-6.83	-1.84	-1.29	-1.57	-13	-2.72	-3.52	-2.28	-15	-3.35

This table presents F5's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	2,312	2,306	2,476	2,605	3,390	4,678	4,997	5,276	5,248	5,613	6,319
Total Current Assets	1,188	1,289	1,406	1,418	1,512	1,793	1,611	1,912	1,849	2,109	2,519
Cash & Equivalents	390	515	673	425	599	850	581	758	797	1,075	1,344
Accounts Receivable	279	268	292	295	322	296	341	470	455	389	414
Inventories, net	34	34	30	31	34	28	22	68	36	76	77
Other Current Assets	51	53	68	52	183	260	338	489	555	569	683
Plant, Property, & Equipment, net	96	123	122	145	223	229	191	168	170	151	157
Total Noncurrent Assets	1,028	894	948	1,043	1,655	2,655	3,195	3,196	3,229	3,353	3,644
Long-Term Investments	398	276	285	411	358	103	133	9.54	5.07	8.58	16
Goodwill	556	556	556	556	1,065	1,859	2,217	2,259	2,289	2,312	2,444
Noncurrent Deferred & Refundable Income Taxes	6.49	2.04	53	33	28	45	128	183	295	366	446
Other Noncurrent Operating Assets	68	60	54	42	204	648	717	744	640	666	738
Total Liabilities & Shareholders' Equity	2,312	2,306	2,476	2,605	3,390	4,678	4,997	5,276	5,248	5,613	6,319
Total Liabilities	996	1,121	1,247	1,320	1,629	2,446	2,637	2,807	2,448	2,484	2,727
Total Current Liabilities	755	844	935	954	1,106	1,288	1,392	1,840	1,473	1,490	1,613
Accounts Payable	51	34	51	58	63	64	62	113	63	68	84
Accrued Expenses	130	178	187	181	236	321	341	310	283	300	315
Current Deferred Revenue	574	632	696	716	807	883	-	1,067	-	1,122	1,213
Total Noncurrent Liabilities	240	277	313	366	523	1,157	1,246	967	975	994	1,115
Noncurrent Deferred Revenue	209	238	268	300	391	389	521	624	649	676	786
Noncurrent Deferred & Payable Income Tax Liabilities	0.90	4.21	0.06	0.04	0.31	0.60	2.41	2.78	4.64	7.18	1.92
Other Noncurrent Operating Liabilities	30	34	45	66	132	398	372	340	322	311	327
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,317	1,185	1,229	1,285	1,761	2,232	2,360	2,469	2,800	3,129	3,592
Total Preferred & Common Equity	1,317	1,185	1,229	1,285	1,761	2,232	2,360	2,469	2,800	3,129	3,592
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,317	1,185	1,229	1,285	1,761	2,232	2,360	2,469	2,800	3,129	3,592
Common Stock	10	13	18	20	143	305	192	91	24	5.89	42
Retained Earnings	1,322	1,185	1,230	1,287	1,638	1,946	2,188	2,404	2,799	3,144	3,568
Accumulated Other Comprehensive Income / (Loss)	-15	-13	-18	-22	-19	-19	-20	-26	-23	-21	-18

This table presents F5's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	5,119	5,248	5,349	5,385	5,414	5,613	5,901	5,907	6,113	6,292	6,497
Total Current Assets	1,714	1,849	1,962	1,952	1,986	2,109	2,342	2,336	2,485	2,515	2,703
Cash & Equivalents	677	797	823	903	935	1,075	1,151	1,259	1,427	1,200	1,443
Accounts Receivable	440	455	513	388	420	389	485	380	360	494	426
Inventories, net	46	36	36	70	79	76	73	68	67	80	90
Other Current Assets	538	555	587	590	552	569	633	629	631	742	744
Plant, Property, & Equipment, net	171	170	167	162	154	151	150	149	152	157	175
Total Noncurrent Assets	3,234	3,229	3,220	3,272	3,274	3,353	3,409	3,422	3,476	3,619	3,620
Long-Term Investments	5.89	5.07	6.17	6.34	7.30	8.58	11	13	15	18	21
Goodwill	2,289	2,289	2,289	2,312	2,312	2,312	2,312	2,320	2,324	2,444	2,444
Noncurrent Deferred & Refundable Income Taxes	271	295	307	325	344	366	378	407	431	456	467
Other Noncurrent Operating Assets	668	640	618	628	611	666	707	683	706	701	688
Total Liabilities & Shareholders' Equity	5,119	5,248	5,349	5,385	5,414	5,613	5,901	5,907	6,113	6,292	6,497
Total Liabilities	2,462	2,448	2,488	2,451	2,404	2,484	2,665	2,593	2,642	2,753	2,848
Total Current Liabilities	1,490	1,473	1,524	1,502	1,456	1,490	1,588	1,524	1,551	1,619	1,677
Accounts Payable	65	63	60	58	54	68	54	44	69	61	80
Accrued Expenses	274	283	279	267	260	300	316	280	281	305	329
Current Deferred Revenue	1,150	-	1,185	1,178	1,142	1,122	1,218	1,201	1,201	1,253	1,269
Total Noncurrent Liabilities	972	975	963	949	948	994	1,077	1,068	1,091	1,135	1,171
Noncurrent Deferred Revenue	642	649	645	634	630	676	729	722	756	809	850
Noncurrent Deferred & Payable Income Tax Liabilities	3.88	4.64	5.21	5.69	6.15	7.18	7.70	8.25	8.71	1.91	1.93
Other Noncurrent Operating Liabilities	327	322	314	309	311	311	341	338	326	324	319
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,658	2,800	2,861	2,933	3,011	3,129	3,236	3,314	3,472	3,538	3,650
Total Preferred & Common Equity	2,658	2,800	2,861	2,933	3,011	3,129	3,236	3,314	3,472	3,538	3,650
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,658	2,800	2,861	2,933	3,011	3,129	3,236	3,314	3,472	3,538	3,650
Common Stock	33	24	18	19	18	5.89	9.46	40	41	5.87	53
Retained Earnings	2,647	2,799	2,863	2,935	3,015	3,144	3,250	3,296	3,449	3,551	3,616
Accumulated Other Comprehensive Income / (Loss)	-22	-23	-21	-21	-22	-21	-24	-22	-19	-18	-19

This table displays calculated financial ratios and metrics derived from F5's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.84%	3.92%	4.76%	3.41%	3.75%	4.83%	10.74%	3.55%	4.35%	0.10%	9.66%
EBITDA Growth	12.97%	-1.18%	4.94%	4.18%	-8.09%	-19.25%	2.05%	-0.27%	19.50%	34.04%	12.25%
EBIT Growth	12.87%	-2.04%	4.66%	4.91%	-10.38%	-26.74%	-2.39%	-0.40%	26.10%	43.10%	16.23%
NOPAT Growth	16.42%	1.30%	13.21%	7.69%	-7.70%	-25.77%	10.87%	0.07%	13.78%	39.76%	22.24%
Net Income Growth	17.30%	0.23%	15.01%	7.83%	-5.72%	-28.12%	7.74%	-2.74%	22.59%	43.51%	22.16%
EPS Growth	22.98%	6.96%	20.82%	12.62%	-3.28%	-29.24%	6.59%	-1.31%	24.29%	45.80%	23.56%
Operating Cash Flow Growth	24.69%	3.94%	4.04%	2.81%	-1.74%	-11.63%	-2.38%	-31.40%	47.62%	21.27%	19.84%
Free Cash Flow Firm Growth	35.90%	5.84%	5.95%	5.02%	-134.67%	-207.77%	92.88%	342.07%	220.77%	52.24%	-2.52%
Invested Capital Growth	-39.95%	-81.70%	-373.06%	-128.24%	360.93%	203.56%	28.91%	14.16%	3.49%	2.73%	9.08%
Revenue Q/Q Growth	1.91%	1.22%	0.61%	1.16%	1.25%	1.05%	2.65%	0.67%	0.25%	1.43%	2.10%
EBITDA Q/Q Growth	0.16%	2.46%	-1.24%	0.80%	-5.39%	-3.13%	6.33%	-5.12%	14.85%	2.83%	1.51%
EBIT Q/Q Growth	-0.06%	2.50%	-1.55%	0.90%	-7.07%	-4.94%	7.20%	-5.81%	18.28%	4.30%	1.45%
NOPAT Q/Q Growth	0.92%	3.68%	5.89%	-0.72%	-8.08%	-4.30%	11.48%	-4.87%	16.33%	1.12%	4.28%
Net Income Q/Q Growth	0.83%	3.36%	6.80%	-0.63%	-8.17%	-5.29%	11.09%	-6.22%	18.90%	2.38%	3.78%
EPS Q/Q Growth	1.82%	5.28%	8.15%	0.55%	-7.69%	-5.83%	10.79%	-5.39%	19.31%	2.80%	4.06%
Operating Cash Flow Q/Q Growth	2.01%	3.00%	1.23%	-1.14%	0.24%	-4.37%	3.39%	-8.80%	5.74%	7.71%	-3.89%
Free Cash Flow Firm Q/Q Growth	-2.88%	5.77%	2.96%	-2.57%	-4.68%	-4.71%	31.74%	-28.21%	9.54%	13.77%	-29.53%
Invested Capital Q/Q Growth	-13.71%	-57.86%	-63.56%	-11.60%	-9.43%	-2.45%	-1.00%	0.24%	1.57%	-1.05%	9.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.69%	83.10%	83.09%	83.28%	84.10%	82.65%	81.06%	79.98%	78.91%	80.20%	81.41%
EBITDA Margin	31.98%	30.41%	30.46%	30.69%	27.19%	20.94%	19.30%	18.58%	21.28%	28.50%	29.17%
Operating Margin	28.80%	27.44%	26.98%	27.34%	23.12%	16.69%	15.13%	14.98%	16.80%	23.39%	24.80%
EBIT Margin	29.24%	27.56%	27.54%	27.93%	24.13%	16.86%	14.86%	14.30%	17.28%	24.70%	26.18%
Profit (Net Income) Margin	19.01%	18.34%	20.13%	20.99%	19.07%	13.08%	12.72%	11.95%	14.04%	20.13%	22.42%
Tax Burden Percent	65.03%	66.53%	73.11%	75.14%	79.05%	77.56%	85.61%	83.59%	81.27%	81.50%	85.66%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	34.98%	33.47%	26.89%	24.86%	20.95%	22.44%	14.39%	16.41%	18.73%	18.50%	14.35%
Return on Invested Capital (ROIC)	186.40%	425.39%	0.00%	0.00%	308.48%	35.00%	22.54%	18.70%	19.61%	26.58%	30.67%
ROIC Less NNEP Spread (ROIC-NNEP)	185.93%	425.25%	0.00%	0.00%	307.19%	34.71%	23.29%	21.22%	18.00%	23.41%	27.70%
Return on Net Nonoperating Assets (RNNOA)	-159.23%	-396.15%	0.00%	0.00%	-280.41%	-19.60%	-8.11%	-5.36%	-4.62%	-7.47%	-10.07%
Return on Equity (ROE)	27.18%	29.25%	34.85%	36.08%	28.08%	15.40%	14.43%	13.34%	14.99%	19.12%	20.60%
Cash Return on Invested Capital (CROIC)	236.33%	563.50%	0.00%	0.00%	-43.19%	-65.88%	-2.73%	5.47%	16.18%	23.89%	21.98%
Operating Return on Assets (OROA)	24.96%	23.81%	24.07%	23.76%	18.05%	9.83%	8.00%	7.50%	9.24%	12.81%	13.55%
Return on Assets (ROA)	16.23%	15.84%	17.59%	17.85%	14.27%	7.62%	6.85%	6.27%	7.51%	10.44%	11.60%
Return on Common Equity (ROCE)	27.18%	29.25%	34.85%	36.08%	28.08%	15.40%	14.43%	13.34%	14.99%	19.12%	20.60%
Return on Equity Simple (ROE_SIMPLE)	27.72%	30.87%	34.23%	35.29%	24.28%	13.77%	14.03%	13.05%	14.10%	18.11%	0.00%
Net Operating Profit after Tax (NOPAT)	360	364	412	444	410	304	337	338	384	537	656
NOPAT Margin	18.73%	18.25%	19.73%	20.54%	18.28%	12.94%	12.96%	12.52%	13.65%	19.06%	21.25%
Net Nonoperating Expense Percent (NNEP)	0.48%	0.14%	0.69%	0.70%	1.29%	0.28%	-0.76%	-2.52%	1.61%	3.18%	2.97%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	18.26%
Cost of Revenue to Revenue	17.31%	16.90%	16.91%	16.72%	15.90%	17.35%	18.94%	20.02%	21.09%	19.80%	18.59%
SG&A Expenses to Revenue	7.06%	6.94%	7.51%	7.42%	9.40%	10.99%	10.51%	10.18%	9.36%	9.55%	10.44%
R&D to Revenue	15.45%	16.75%	16.76%	16.94%	18.20%	18.77%	19.69%	20.16%	19.21%	17.40%	17.48%
Operating Expenses to Revenue	53.89%	55.66%	56.10%	55.94%	60.98%	65.96%	65.92%	65.00%	62.11%	56.81%	56.61%
Earnings before Interest and Taxes (EBIT)	561	550	576	604	541	396	387	385	486	695	808
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	614	607	637	663	610	492	502	501	599	802	901
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.24	6.96	6.23	9.43	4.79	3.36	5.08	3.49	3.41	4.10	5.17
Price to Tangible Book Value (P/TBV)	10.81	13.11	11.38	16.63	12.13	20.12	83.45	41.11	18.68	15.71	16.17
Price to Revenue (P/Rev)	4.28	4.14	3.67	5.61	3.77	3.19	4.61	3.20	3.40	4.56	6.01
Price to Earnings (P/E)	22.53	22.55	18.21	26.73	19.74	24.43	36.19	26.76	24.20	22.64	26.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.44%	4.43%	5.49%	3.74%	5.07%	4.09%	2.76%	3.74%	4.13%	4.42%	3.73%
Enterprise Value to Invested Capital (EV/IC)	48.71	267.74	0.00	0.00	16.51	5.04	6.71	4.20	4.39	5.74	7.71
Enterprise Value to Revenue (EV/Rev)	3.67	3.56	3.04	4.94	3.17	2.80	4.35	3.00	3.11	4.17	5.57
Enterprise Value to EBITDA (EV/EBITDA)	11.48	11.69	9.99	16.10	11.67	13.38	22.52	16.12	14.61	14.64	19.10
Enterprise Value to EBIT (EV/EBIT)	12.56	12.90	11.05	17.69	13.14	16.61	29.24	20.96	18.00	16.90	21.29
Enterprise Value to NOPAT (EV/NOPAT)	19.61	19.48	15.42	24.05	17.36	21.65	33.54	23.93	22.78	21.89	26.23
Enterprise Value to Operating Cash Flow (EV/OCF)	10.30	9.97	8.59	14.03	9.51	9.96	17.54	18.25	13.39	14.83	18.12
Enterprise Value to Free Cash Flow (EV/FCFF)	15.47	14.70	12.44	19.89	0.00	0.00	0.00	81.76	27.61	24.36	36.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.17	0.16	0.14	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.17	0.15	0.00	0.00	0.00	0.00
Financial Leverage	-0.86	-0.93	-1.02	-1.09	-0.91	-0.56	-0.35	-0.25	-0.26	-0.32	-0.36
Leverage Ratio	1.67	1.85	1.98	2.02	1.97	2.02	2.11	2.13	2.00	1.83	1.78
Compound Leverage Factor	1.67	1.85	1.98	2.02	1.97	2.02	2.11	2.13	2.00	1.83	1.78
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	14.82%	13.52%	12.41%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.74%	0.71%	12.41%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	14.08%	12.82%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	85.18%	86.48%	87.59%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.79	0.73	0.70	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-1.88	-1.34	-1.09	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.75	0.70	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.28	1.09	1.04	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-3.04	-2.00	-1.61	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	1.21	1.04	0.00	0.00	0.00	0.00
Altman Z-Score	7.61	7.02	6.22	8.01	5.12	3.34	4.17	3.25	4.02	4.93	5.96
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.53	1.50	1.49	1.37	1.39	1.16	1.04	1.26	1.42	1.56
Quick Ratio	1.40	1.36	1.40	1.40	1.17	1.17	0.90	0.74	0.85	0.98	1.09
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	456	482	511	537	-186	-573	-41	99	317	482	470
Operating Cash Flow to CapEx	1,135.09%	1,120.74%	1,913.81%	1,450.62%	722.26%	1,102.60%	2,104.98%	1,316.41%	1,205.91%	2,605.61%	2,195.25%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.86	0.87	0.85	0.75	0.58	0.54	0.52	0.53	0.52	0.52
Accounts Receivable Turnover	7.36	7.29	7.46	7.36	7.26	7.61	8.18	6.65	6.08	6.67	7.69
Inventory Turnover	11.42	9.95	11.07	11.97	10.98	13.09	19.74	11.94	11.38	9.94	7.47
Fixed Asset Turnover	23.60	18.21	17.02	16.16	12.17	10.39	12.39	15.00	16.62	17.53	20.06
Accounts Payable Turnover	7.03	7.94	8.33	6.66	5.92	6.42	7.79	6.16	6.72	8.50	7.56
Days Sales Outstanding (DSO)	49.59	50.09	48.91	49.59	50.25	47.99	44.63	54.87	60.00	54.69	47.48
Days Inventory Outstanding (DIO)	31.96	36.68	32.98	30.50	33.25	27.87	18.49	30.58	32.06	36.74	48.84
Days Payable Outstanding (DPO)	51.95	45.97	43.82	54.79	61.61	56.87	46.84	59.28	54.29	42.94	48.29
Cash Conversion Cycle (CCC)	29.60	40.80	38.07	25.30	21.88	19.00	16.28	26.17	37.77	48.48	48.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	145	26	-72	-165	431	1,308	1,686	1,925	1,992	2,046	2,232
Invested Capital Turnover	9.95	23.30	-91.18	-18.21	16.88	2.70	1.74	1.49	1.44	1.39	1.44
Increase / (Decrease) in Invested Capital	-96	-118	-99	-93	596	877	378	239	67	54	186
Enterprise Value (EV)	7,050	7,093	6,359	10,678	7,113	6,586	11,315	8,076	8,748	11,751	17,206
Market Capitalization	8,222	8,252	7,661	12,128	8,443	7,510	11,989	8,620	9,557	12,834	18,566
Book Value per Share	$18.54	$17.90	$19.35	$21.14	$29.29	$36.49	$39.13	$41.45	$47.22	$53.69	$62.53
Tangible Book Value per Share	$10.71	$9.51	$10.60	$12.00	$11.58	$6.10	$2.38	$3.52	$8.63	$14.02	$19.99
Total Capital	1,317	1,185	1,229	1,285	1,761	2,621	2,729	2,819	2,800	3,129	3,592
Total Debt	0.00	0.00	0.00	0.00	0.00	388	369	350	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	369	350	0.00	0.00	0.00	0.00
Net Debt	-1,172	-1,159	-1,302	-1,451	-1,331	-925	-674	-544	-808	-1,083	-1,360
Capital Expenditures (CapEx)	60	63	39	52	104	60	31	34	54	30	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-341	-438	-545	-576	-566	-685	-672	-463	-427	-455	-438
Debt-free Net Working Capital (DFNWC)	433	445	472	463	406	524	239	422	376	620	906
Net Working Capital (NWC)	433	445	472	463	406	505	220	72	376	620	906
Net Nonoperating Expense (NNE)	-5.49	-1.67	-8.45	-9.66	-18	-3.20	6.07	15	-11	-30	-36
Net Nonoperating Obligations (NNO)	-1,172	-1,159	-1,302	-1,451	-1,331	-925	-674	-544	-808	-1,083	-1,360
Total Depreciation and Amortization (D&A)	53	57	61	59	69	96	115	116	113	107	92
Debt-free, Cash-free Net Working Capital to Revenue	-17.78%	-21.95%	-26.09%	-26.66%	-25.25%	-29.16%	-25.80%	-17.16%	-15.19%	-16.15%	-14.19%
Debt-free Net Working Capital to Revenue	22.56%	22.28%	22.57%	21.43%	18.11%	22.31%	9.17%	15.66%	13.37%	22.01%	29.34%
Net Working Capital to Revenue	22.56%	22.28%	22.57%	21.43%	18.11%	21.49%	8.43%	2.68%	13.37%	22.01%	29.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$7.12	$0.00	$5.46	$5.34	$6.59	$9.65	$11.96
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	60.04M	0.00	60.71M	60.27M	59.91M	58.72M	57.90M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$7.08	$0.00	$5.34	$5.27	$6.55	$9.55	$11.80
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	60.46M	0.00	62.06M	61.10M	60.27M	59.36M	58.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$7.12	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	60.79M	0.00	61.23M	60.37M	59.71M	58.61M	58.09M
Normalized Net Operating Profit after Tax (NOPAT)	360	370	422	458	410	310	337	344	437	544	678
Normalized NOPAT Margin	18.73%	18.56%	20.19%	21.18%	18.28%	13.20%	12.96%	12.77%	15.54%	19.31%	21.95%
Pre Tax Income Margin	29.24%	27.56%	27.54%	27.93%	24.13%	16.86%	14.86%	14.30%	17.28%	24.70%	26.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	166.26%	191.37%	142.62%	132.27%	47.00%	32.53%	150.95%	155.21%	88.63%	88.32%	72.52%

This table displays calculated financial ratios and metrics derived from F5's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	56,519,273.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	56,519,273.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.61
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.99%	-1.11%	-3.10%	-1.02%	5.62%	10.67%	7.30%	12.20%	8.49%	7.30%	11.02%
EBITDA Growth	61.00%	65.06%	27.79%	47.16%	10.81%	13.77%	11.34%	18.70%	5.93%	6.83%	10.39%
EBIT Growth	75.32%	81.83%	34.15%	61.20%	16.41%	19.87%	17.31%	24.13%	5.68%	6.64%	10.52%
NOPAT Growth	55.12%	89.59%	43.79%	58.19%	3.82%	25.09%	18.33%	27.83%	17.40%	5.95%	3.49%
Net Income Growth	70.28%	91.13%	46.15%	61.93%	8.65%	20.28%	22.27%	31.81%	15.24%	8.18%	1.53%
EPS Growth	72.11%	93.33%	49.25%	64.86%	10.28%	21.55%	24.00%	33.20%	16.49%	9.93%	4.03%
Operating Cash Flow Growth	22.96%	4.88%	57.28%	-3.69%	29.88%	22.66%	15.77%	77.54%	-15.59%	-21.49%	42.60%
Free Cash Flow Firm Growth	157.75%	233.30%	208.88%	-34.09%	22.55%	624.07%	106.63%	608.11%	-103.65%	-162.32%	-103.38%
Invested Capital Growth	3.49%	5.96%	2.94%	5.45%	2.73%	2.20%	0.93%	-1.84%	9.08%	11.91%	7.04%
Revenue Q/Q Growth	0.62%	-2.03%	-1.62%	2.08%	7.36%	2.65%	-4.61%	6.74%	3.81%	1.53%	-1.31%
EBITDA Q/Q Growth	51.58%	-0.34%	-14.59%	14.05%	14.14%	2.33%	-16.42%	21.59%	1.85%	3.20%	-13.63%
EBIT Q/Q Growth	64.21%	-0.24%	-16.32%	17.60%	18.58%	2.72%	-18.10%	24.43%	0.96%	3.65%	-15.12%
NOPAT Q/Q Growth	72.66%	-12.65%	-12.56%	19.95%	13.32%	5.25%	-17.28%	29.57%	4.08%	-5.03%	-19.20%
Net Income Q/Q Growth	70.98%	-9.04%	-13.99%	21.05%	14.73%	0.70%	-12.57%	30.50%	0.31%	-5.48%	-17.94%
EPS Q/Q Growth	70.95%	-8.30%	-13.79%	22.00%	14.34%	1.08%	-12.06%	31.05%	0.00%	-4.62%	-16.77%
Operating Cash Flow Q/Q Growth	14.99%	-12.90%	34.07%	-28.28%	55.07%	-17.74%	26.54%	9.99%	-26.27%	-23.48%	129.83%
Free Cash Flow Firm Q/Q Growth	80.09%	-80.09%	243.66%	-46.51%	234.86%	17.63%	-1.93%	83.30%	-101.73%	-1,905.93%	94.68%
Invested Capital Q/Q Growth	1.57%	1.86%	-0.27%	2.19%	-1.05%	1.34%	-1.52%	-0.61%	9.97%	3.97%	-5.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.06%	80.31%	79.29%	80.38%	80.75%	81.67%	80.72%	80.95%	82.24%	81.55%	81.41%
EBITDA Margin	28.91%	29.41%	25.53%	28.53%	30.33%	30.23%	26.49%	30.18%	29.61%	30.10%	26.34%
Operating Margin	24.29%	23.75%	20.54%	23.45%	25.58%	26.76%	21.73%	25.16%	25.39%	26.04%	22.05%
EBIT Margin	24.73%	25.18%	21.42%	24.68%	27.26%	27.27%	23.42%	27.30%	26.55%	27.10%	23.31%
Profit (Net Income) Margin	21.52%	19.98%	17.47%	20.72%	22.14%	21.72%	19.91%	24.34%	23.52%	21.89%	18.20%
Tax Burden Percent	87.02%	79.35%	81.56%	83.95%	81.22%	79.62%	85.01%	89.15%	88.57%	80.77%	78.09%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	12.98%	20.65%	18.44%	16.05%	18.78%	20.38%	14.99%	10.85%	11.43%	19.23%	21.91%
Return on Invested Capital (ROIC)	30.37%	26.82%	23.38%	27.13%	28.98%	30.01%	26.72%	33.11%	32.46%	30.10%	26.27%
ROIC Less NNEP Spread (ROIC-NNEP)	29.97%	25.77%	22.80%	26.26%	27.91%	29.70%	25.76%	31.86%	31.78%	29.51%	25.69%
Return on Net Nonoperating Assets (RNNOA)	-7.69%	-7.10%	-6.73%	-7.60%	-8.90%	-9.71%	-9.00%	-11.72%	-11.55%	-10.37%	-10.09%
Return on Equity (ROE)	22.67%	19.72%	16.65%	19.54%	20.08%	20.30%	17.72%	21.39%	20.91%	19.73%	16.18%
Cash Return on Invested Capital (CROIC)	16.18%	16.82%	21.19%	21.05%	23.89%	25.59%	28.13%	32.57%	21.98%	19.05%	24.91%
Operating Return on Assets (OROA)	13.22%	13.54%	11.24%	13.01%	14.13%	14.01%	12.19%	14.32%	13.74%	13.98%	12.12%
Return on Assets (ROA)	11.50%	10.74%	9.17%	10.92%	11.48%	11.16%	10.36%	12.77%	12.17%	11.29%	9.46%
Return on Common Equity (ROCE)	22.67%	19.72%	16.65%	19.54%	20.08%	20.30%	17.72%	21.39%	20.91%	19.73%	16.18%
Return on Equity Simple (ROE_SIMPLE)	0.00%	16.11%	17.00%	18.39%	0.00%	18.38%	18.75%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	149	131	114	137	155	163	135	175	182	173	140
NOPAT Margin	21.14%	18.85%	16.75%	19.69%	20.78%	21.30%	18.47%	22.43%	22.49%	21.03%	17.22%
Net Nonoperating Expense Percent (NNEP)	0.40%	1.05%	0.58%	0.87%	1.07%	0.32%	0.96%	1.25%	0.68%	0.59%	0.58%
Return On Investment Capital (ROIC_SIMPLE)	-	4.56%	-	-	-	5.05%	4.08%	5.04%	5.07%	4.89%	3.83%
Cost of Revenue to Revenue	19.94%	19.69%	20.71%	19.62%	19.25%	18.33%	19.28%	19.05%	17.76%	18.45%	18.59%
SG&A Expenses to Revenue	8.71%	9.34%	9.86%	9.48%	9.51%	9.53%	10.48%	10.08%	11.61%	11.02%	11.29%
R&D to Revenue	18.08%	17.26%	17.94%	17.88%	16.60%	17.03%	18.68%	17.47%	16.84%	17.16%	18.61%
Operating Expenses to Revenue	55.77%	56.55%	58.75%	56.94%	55.17%	54.91%	58.99%	55.80%	56.85%	55.50%	59.35%
Earnings before Interest and Taxes (EBIT)	175	174	146	172	204	209	171	213	215	223	189
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	204	204	174	198	226	232	194	235	240	248	214
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.41	3.71	3.80	3.35	4.10	4.56	4.63	4.87	5.17	4.19	4.48
Price to Tangible Book Value (P/TBV)	18.68	18.55	17.96	14.45	15.71	15.96	15.44	14.73	16.17	13.55	13.56
Price to Revenue (P/Rev)	3.40	3.78	4.01	3.64	4.56	5.10	5.22	5.59	6.01	4.72	5.07
Price to Earnings (P/E)	24.20	23.03	22.36	18.23	22.64	24.78	24.71	25.34	26.82	21.00	23.09
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.13%	4.34%	4.47%	5.48%	4.42%	4.04%	4.05%	3.95%	3.73%	4.76%	4.33%
Enterprise Value to Invested Capital (EV/IC)	4.39	4.82	5.06	4.43	5.74	6.55	6.89	7.62	7.71	5.87	6.81
Enterprise Value to Revenue (EV/Rev)	3.11	3.49	3.68	3.30	4.17	4.70	4.79	5.11	5.57	4.33	4.62
Enterprise Value to EBITDA (EV/EBITDA)	14.61	14.41	14.28	11.73	14.64	16.35	16.56	17.42	19.10	14.85	15.90
Enterprise Value to EBIT (EV/EBIT)	18.00	17.33	17.02	13.73	16.90	18.60	18.64	19.40	21.29	16.55	17.72
Enterprise Value to NOPAT (EV/NOPAT)	22.78	21.95	21.31	17.24	21.89	23.84	23.84	24.58	26.23	20.45	22.21
Enterprise Value to Operating Cash Flow (EV/OCF)	13.39	14.80	13.80	12.44	14.83	16.36	16.28	15.65	18.12	15.02	14.66
Enterprise Value to Free Cash Flow (EV/FCFF)	27.61	29.50	24.23	21.58	24.36	25.87	24.62	23.17	36.59	32.51	28.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.26	-0.28	-0.30	-0.29	-0.32	-0.33	-0.35	-0.37	-0.36	-0.35	-0.39
Leverage Ratio	2.00	1.92	1.87	1.86	1.83	1.85	1.81	1.78	1.78	1.80	1.78
Compound Leverage Factor	2.00	1.92	1.87	1.86	1.83	1.85	1.81	1.78	1.78	1.80	1.78
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.82	4.04	4.20	4.03	4.64	4.85	5.09	5.42	5.65	4.81	5.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.29	1.30	1.36	1.42	1.48	1.53	1.60	1.56	1.55	1.61
Quick Ratio	0.85	0.88	0.86	0.93	0.98	1.03	1.08	1.15	1.09	1.05	1.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	82	16	56	30	101	119	116	213	-3.68	-74	-3.93
Operating Cash Flow to CapEx	1,233.92%	1,827.12%	2,344.12%	2,717.71%	4,067.74%	2,511.85%	2,443.08%	3,303.51%	1,289.07%	1,637.97%	1,994.53%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.54	0.52	0.53	0.52	0.51	0.52	0.52	0.52	0.52	0.52
Accounts Receivable Turnover	6.08	5.62	6.37	6.46	6.67	5.79	7.66	7.76	7.69	6.43	8.01
Inventory Turnover	11.38	12.09	9.30	8.90	9.94	10.30	8.16	7.89	7.47	7.64	7.53
Fixed Asset Turnover	16.62	16.76	16.80	17.07	17.53	18.23	18.95	19.72	20.06	20.48	19.89
Accounts Payable Turnover	6.72	8.72	8.78	9.32	8.50	9.88	11.09	9.38	7.56	10.24	9.67
Days Sales Outstanding (DSO)	60.00	64.95	57.30	56.50	54.69	63.03	47.67	47.05	47.48	56.80	45.57
Days Inventory Outstanding (DIO)	32.06	30.18	39.26	40.99	36.74	35.44	44.73	46.26	48.84	47.75	48.50
Days Payable Outstanding (DPO)	54.29	41.87	41.59	39.18	42.94	36.94	32.92	38.91	48.29	35.63	37.75
Cash Conversion Cycle (CCC)	37.77	53.26	54.97	58.31	48.48	61.53	59.48	54.41	48.04	68.92	56.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,992	2,029	2,023	2,068	2,046	2,074	2,042	2,030	2,232	2,321	2,186
Invested Capital Turnover	1.44	1.42	1.40	1.38	1.39	1.41	1.45	1.48	1.44	1.43	1.53
Increase / (Decrease) in Invested Capital	67	114	58	107	54	45	19	-38	186	247	144
Enterprise Value (EV)	8,748	9,783	10,239	9,152	11,751	13,578	14,079	15,461	17,206	13,610	14,889
Market Capitalization	9,557	10,615	11,149	10,095	12,834	14,740	15,351	16,903	18,566	14,828	16,353
Book Value per Share	$47.22	$48.39	$49.88	$51.37	$53.69	$55.20	$57.48	$60.45	$62.53	$60.91	$64.57
Tangible Book Value per Share	$8.63	$9.68	$10.56	$11.92	$14.02	$15.75	$17.24	$19.98	$19.99	$18.84	$21.34
Total Capital	2,800	2,861	2,933	3,011	3,129	3,236	3,314	3,472	3,592	3,538	3,650
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-808	-832	-910	-943	-1,083	-1,162	-1,272	-1,442	-1,360	-1,218	-1,464
Capital Expenditures (CapEx)	15	9.05	9.46	5.85	6.06	8.07	11	8.54	16	9.72	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-427	-389	-454	-405	-455	-397	-447	-493	-438	-303	-417
Debt-free Net Working Capital (DFNWC)	376	437	449	531	620	754	812	934	906	897	1,025
Net Working Capital (NWC)	376	437	449	531	620	754	812	934	906	897	1,025
Net Nonoperating Expense (NNE)	-2.68	-7.84	-4.87	-7.16	-10	-3.15	-10	-15	-8.34	-7.06	-7.96
Net Nonoperating Obligations (NNO)	-808	-832	-910	-943	-1,083	-1,162	-1,272	-1,442	-1,360	-1,218	-1,464
Total Depreciation and Amortization (D&A)	30	29	28	27	23	23	22	22	25	25	25
Debt-free, Cash-free Net Working Capital to Revenue	-15.19%	-13.85%	-16.32%	-14.59%	-16.15%	-13.72%	-15.21%	-16.30%	-14.19%	-9.64%	-12.95%
Debt-free Net Working Capital to Revenue	13.37%	15.59%	16.13%	19.11%	22.01%	26.10%	27.62%	30.88%	29.34%	28.51%	31.80%
Net Working Capital to Revenue	13.37%	15.59%	16.13%	19.11%	22.01%	26.10%	27.62%	30.88%	29.34%	28.51%	31.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.56	$2.34	$2.02	$2.46	$2.83	$2.85	$2.51	$3.29	$3.31	$3.12	$2.61
Adjusted Weighted Average Basic Shares Outstanding	59.91M	59.12M	58.79M	58.58M	58.72M	58.31M	57.89M	57.77M	57.90M	57.65M	56.71M
Adjusted Diluted Earnings per Share	$2.53	$2.32	$2.00	$2.44	$2.79	$2.82	$2.48	$3.25	$3.25	$3.10	$2.58
Adjusted Weighted Average Diluted Shares Outstanding	60.27M	59.65M	59.58M	59.15M	59.36M	59.06M	58.76M	58.49M	58.68M	58.16M	57.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.71M	58.81M	58.61M	58.28M	58.61M	57.65M	57.43M	57.45M	58.09M	56.52M	56.42M
Normalized Net Operating Profit after Tax (NOPAT)	149	137	114	137	155	172	135	175	195	173	140
Normalized NOPAT Margin	21.14%	19.82%	16.76%	19.70%	20.78%	22.48%	18.47%	22.43%	24.03%	21.03%	17.19%
Pre Tax Income Margin	24.73%	25.18%	21.42%	24.68%	27.26%	27.27%	23.42%	27.30%	26.55%	27.10%	23.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	88.63%	99.81%	112.35%	83.10%	88.32%	79.95%	80.89%	71.58%	72.52%	96.06%	91.94%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-focused snapshot of F5, Inc. (FFIV) using the latest quarterly data. The focus is on trends over the last four years, with emphasis on the most relevant items for retail investors.

Strong liquidity position: Q1 2026 cash and equivalents are about $1,199.7 million, up from $810.1 million in Q4 2025, indicating ample liquidity to fund operations and potential opportunistic moves.
Lean capital structure: The company carries little to no debt in recent quarters (short-term and long-term debt are effectively zero), reducing financial risk and interest burden.
Very healthy gross margin: Recent quarters show gross margin in the low 80s (about 81–82%), highlighting strong pricing power and cost efficiency in the core business.
Solid cash flow from operations: Net cash from continuing operating activities has been strong (e.g., roughly $159.2M in Q1 2026 and $208.1M in Q4 2025), signaling effective cash conversion from earnings.
Consistent profitability and earnings per share: Net income around $180M in Q1 2026 with basic and diluted EPS of about $3.12 and $3.10, respectively, continuing the trend of solid quarterly earnings.
Working capital volatility: Changes in operating assets and liabilities show sizable net movements (e.g., net increase/decrease in operating capital around negative $103.9M in Q1 2026), indicating quarterly working capital timing effects that are normal for software/tech hardware peers.
Significant goodwill on the balance sheet: Goodwill remains large (around $2.32B in recent quarters) due to prior acquisitions, which could carry impairment risk if growth slows or margins compress.
Financing activity cash outflows: Net cash from financing activities was negative in Q1 2026 (about $293.0M outflow), largely due to share repurchases and other financing activities, which reduces cash in the quarter despite strong operations.
Quarterly cash burn from financing mix: The net change in cash and equivalents for Q1 2026 was negative (about -$144.4M), reflecting the quarterly impact of financing decisions on overall cash position.

05/15/26 05:48 PM ETAI Generated. May Contain Errors.

F5 Financials - Frequently Asked Questions

According to the most recent income statement we have on file, F5's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

F5's net income appears to be on an upward trend, with a most recent value of $692.38 million in 2025, rising from $365.01 million in 2015. The previous period was $566.78 million in 2024. View F5's forecast to see where analysts expect F5 to go next.

F5's total operating income in 2025 was $765.95 million, based on the following breakdown:

Total Gross Profit: $2.51 billion
Total Operating Expenses: $1.75 billion

Over the last 10 years, F5's total revenue changed from $1.92 billion in 2015 to $3.09 billion in 2025, a change of 60.9%.

F5's total liabilities were at $2.73 billion at the end of 2025, a 9.8% increase from 2024, and a 174.0% increase since 2015.

In the past 10 years, F5's cash and equivalents has ranged from $390.46 million in 2015 to $1.34 billion in 2025, and is currently $1.34 billion as of their latest financial filing in 2025.

Over the last 10 years, F5's book value per share changed from 18.54 in 2015 to 62.53 in 2025, a change of 237.2%.

Related Companies

Financial statements for NASDAQ:FFIV last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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F5 (FFIV) Financials

Financials Breakdown Chart

Key Financial Trends

F5 Financials - Frequently Asked Questions

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F5 (FFIV) Financials

Annual Income Statements for F5

Quarterly Income Statements for F5

Annual Cash Flow Statements for F5

Quarterly Cash Flow Statements for F5

Annual Balance Sheets for F5

Quarterly Balance Sheets for F5

Annual Metrics And Ratios for F5

Quarterly Metrics And Ratios for F5

Financials Breakdown Chart

Key Financial Trends

F5 Financials - Frequently Asked Questions

When does F5's fiscal year end?

How has F5's net income changed over the last 10 years?

What is F5's operating income?

How has F5's revenue changed over the last 10 years?

How much debt does F5 have?

How much cash does F5 have?

How has F5's book value per share changed over the last 10 years?

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