GeekWire·Jun 27, 2026
From the dot-com boom to AI security: F5 at 30, with CEO François Locoh-DonouF5 has remade itself in every era of computing — from the early web to the cloud — and at 30 it's doing it again.
F5, Inc.(FFIV)Earnings, Financials & Key Ratios
FFIV•NASDAQ
$419.03
35.5× P/E·Price updated Jul 6, 2026
AboutF5, Inc. provides multi-cloud application security and delivery solutions for the security, performance, and availability of network applications, servers, and storage systems. The company's multi-cloud application security and delivery solutions enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud. It offers application security and delivery products, including BIG-IP appliances and VIPRION chassis and related software modules and software-only Virtual Editions; Local Traffic Manager and DNS Services; Advanced Firewall Manager and Policy Enforcement Manager that leverage the unique performance characteristics of its hardware and software architecture; Application Security Manager and Access Policy Manager; NGINX Plus and NGINX Controller; Shape Defense and Enterprise Defense; Secure Web Gateway, and Silverline DDoS and Application security offerings; and online fraud and abuse prevention solutions. The company also provides a range of professional services, including consulting, training, installation, maintenance, and other technical support services. F5, Inc. sells its products to large enterprise businesses, public sector institutions, governments, and service providers through distributors, value-added resellers, managed service providers, and systems integrators in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. It has partnerships with public cloud providers, such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform. The company was formerly known as F5 Networks, Inc. and changed its name to F5, Inc. in November 2021. F5, Inc. was incorporated in 1996 and is headquartered in Seattle, Washington.Show more
- Revenue$3.09B+9.7%
- EBITDA$858M+12.1%
- Net Income$692M+22.2%
- EPS (Diluted)11.80+23.6%
- Gross Margin81.41%+1.5%
- EBITDA Margin27.8%+2.2%
- Operating Margin24.8%+6.1%
- Net Margin22.42%+11.4%
- ROE20.6%+7.8%
FFIV Price & Volume
F5, Inc. (FFIV) stock price & volume — 10-year historical chart
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Hybrid Transition Drives Recurring Revenue Growth Momentum
Investment Thesis • Updated 2026Q2
VerdictNeutral
Growth:Mixed
Profitability:Strong
Financial:Healthy
Cash Flow:Robust
Primary Risk:Legacy hardware revenue cannibalization
Key Thesis Takeaways
- F5 is navigating a complex transition from legacy hardware to a recurring software-based subscription model, evidenced by deferred revenue growth to $2.1 billion as of 2026Q2.
- While the company maintains robust gross margins consistently above 80%, investors should monitor the potential for margin compression as hyperscaler-native security tools challenge the core BIG-IP segment.
- The firm's conservative capital structure, highlighted by a low 0.06 debt-to-equity ratio, provides the necessary flexibility to fund ongoing strategic investments and offset dilution from $68.0 million in quarterly stock-based compensation.
Verdict Logic
while the company demonstrates strong cash conversion with an OCF/NI ratio of 2.48, the current 23.93 forward P/E valuation reflects significant execution risk regarding the long-term sustainability of legacy hardware margins.
FFIV Growth Metrics
F5, Inc. (FFIV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.87%
5 Years5.61%
3 Years4.63%
TTM9.69%
Profit CAGR
10 Years6.61%
5 Years17.63%
3 Years29.05%
TTM13.98%
EPS CAGR
10 Years8.9%
5 Years18.69%
3 Years30.82%
TTM15.65%
Return on Capital
10 Years22.2%
5 Years13.97%
3 Years15.71%
Last Year17.35%
FFIV Recent Earnings
F5, Inc. (FFIV) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$3.90+12.4%
$3.47
Rev
$812M+3.6%
$784M
Q1 2026
Jan 27, 2026Metric
Actual
Est
EPS
$4.45+22.3%
$3.64
Rev
$822M+7.6%
$764M
Q4 2025
Oct 27, 2025Metric
Actual
Est
EPS
$4.39+10.6%
$3.97
Rev
$810M+1.9%
$795M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$4.16+18.5%
$3.51
Rev
$780M+3.5%
$754M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $3.90vs $3.47+12.4% | $812Mvs $784M+3.6% |
| Q1 2026 | Jan 27, 2026 | $4.45vs $3.64+22.3% | $822Mvs $764M+7.6% |
| Q4 2025 | Oct 27, 2025 | $4.39vs $3.97+10.6% | $810Mvs $795M+1.9% |
| Q3 2025 | Jul 30, 2025 | $4.16vs $3.51+18.5% | $780Mvs $754M+3.5% |
Based on last 12 quarters of dataView full earnings history →
Latest FFIV News
Recent stock market news and headlines for F5, Inc. (FFIV)
GeekWire·Jun 26, 2026
F5 expands further into AI security with SurePath AI acquisitionF5 is buying SurePath AI, a Denver startup that helps companies find the AI tools their own employees are using, and folding it into a growing lineup of AI security products.
Zacks Investment Research·Jun 26, 2026
PD vs. FFIV: Which Stock Is the Better Value Option?Investors interested in stocks from the Internet - Software sector have probably already heard of PagerDuty (PD) and F5 Networks (FFIV). But which of these two stocks is more attractive to value investors?
Business Wire·Jun 23, 2026
F5 Adds Gavin Munroe to its Board of DirectorsSEATTLE--(BUSINESS WIRE)--F5, Inc. (NASDAQ: FFIV), the global leader in delivering and securing every app and API, today announced the appointment of Gavin Munroe to its board of directors. Munroe's extensive experience as a technology leader in the financial services space makes him a valuable addition to F5's board. Mr. Munroe joined F5's board effective June 17, 2026 and will serve as a member of the board's Audit and Risk committees. “Gavin has transformed some of the world's most complex g.
GuruFocus·Jun 22, 2026
F5 Launches AI Security Platform to Put Security Leaders in Control of Enterprise AI RiskF5 (NASDAQ: FFIV), the global leader in delivering and securing every app and API, today introduced the [url="]F5 AI Security Platform[/url] to give CISOs cont
Peers Comparison
Key metrics vs top competitors for F5, Inc. (FFIV)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $419.03 | $23.68B | 35.51 | 9.66% | 22.42% | 20.6% | — | |
| $113.98 | $449.24B | 44.70 | 5.3% | 19.69% | 25.14% | — | |
| $173.28 | $218.19B | 63.01 | 28.6% | 38.32% | 30.58% | — | |
| $42.11 | $3.01B | 32.39 | 4.47% | 11.12% | 5.96% | — | |
| $2.21 | $388.09M | 10.05 | 1.28% | 3.8% | 7.85% | — | |
| $357.53 | $243.66B | 223.46 | 14.87% | 7.95% | 6.3% | — |
Compare FFIV vs Peers
F5, Inc. (FFIV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
FFIV SEC Filings & Documents
F5, Inc. (FFIV) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 28, 2026·SEC
Material company update
Apr 28, 2026·SEC
Material company update
Mar 13, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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FFIV Frequently Asked Questions
F5, Inc. (FFIV) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is F5, Inc.'s revenue?
F5, Inc. (FFIV) reported $3.22B in revenue for fiscal year 2025. This represents a 67080% increase from $4.8M in 1998.
How fast is F5, Inc. growing?
F5, Inc. (FFIV) grew revenue by 9.7% over the past year. This is steady growth.
Is FFIV profitable?
Yes, F5, Inc. (FFIV) is profitable, generating $708.2M in net income for fiscal year 2025 (22.4% net margin).
Dividend & Returns
What is FFIV's return on equity?
F5, Inc. (FFIV) has a return on equity (ROE) of 20.6%. This is excellent, indicating efficient use of shareholder capital.
What is F5, Inc.'s free cash flow?
F5, Inc. (FFIV) generated $962.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.