Latest revenue
$811.7M
as of 2026-03-31
Latest net income
$147.8M
as of 2026-03-31
Net margin
18.2%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $22.21B
- Enterprise value
- $21.01B
- P/E (trailing)
- 32.1×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $395.77
- 52-wk low
- $223.76
- Beta
- —
- Shares out
- 56.4M
5-year trend
What this company does
F5 sells hardware, software, and cloud services that help enterprises deliver, secure, and manage applications and APIs across on-premises, cloud, and hybrid environments. Revenue splits roughly evenly between product sales ($410M) and recurring services like maintenance and support ($412M), with total quarterly revenue of $822M growing 7% year-over-year. The company is shifting toward software and SaaS subscriptions while returning cash aggressively to shareholders, repurchasing $302M of stock this quarter alone.
Generated from FFIV's filing dated 2025-11-25
Key risks
- Goodwill of $2.44B equals 39% of total assets and 69% of shareholders' equity, creating material impairment risk if growth stalls.
- Aggressive buybacks: $301M repurchased in Q1 vs. $159M operating cash flow, draining cash balance from $1.34B to $1.20B.
- Deferred revenue grew only $62M vs. $148M prior-year quarter, signaling decelerating subscription/services bookings momentum.
Generated from FFIV's filing dated 2025-11-25
Profitability
Gross margin
81.4%
1.5%Operating margin
24.8%
6.1%Net margin
22.4%
11.4%Return on assets
11.0%
8.5%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $811.7M | +11.0% | $147.8M | +1.5% | 18.2% |
Q4 2025 2025-12-31 | $822.5M | +7.3% | $180.1M | +8.2% | 21.9% |
Q3 2025 2025-09-30 | $810.1M | +8.5% | $190.5M | +15.2% | 23.5% |
Q2 2025 2025-06-30 | $780.4M | +12.2% | $189.9M | +31.8% | 24.3% |
Q1 2025 2025-03-31 | $731.1M | +7.3% | $145.5M | +22.3% | 19.9% |
Q4 2024 2024-12-31 | $766.5M | +10.7% | $166.4M | +20.3% | 21.7% |
Q3 2024 2024-09-30 | $746.7M | — | $165.3M | — | 22.1% |
Q2 2024 2024-06-30 | $695.5M | -1.0% | $144.1M | +61.9% | 20.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Computer Communications Equipment · SIC 3576
Your notes
Keep private notes on FFIV — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$26.8M
Net activity
−$26.8M
Distinct insiders
11
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns FFIV
Institutional value
$8.55B
Total shares held
30.6M
Distinct holders
487
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 6.2M | $1.80B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 3.7M | $1.06B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 3.0M | $860.9M | — | New |
| 4 | FIRST TRUST ADVISORS LP | 1.5M | $427.3M | — | New |
| 5 | Invesco Ltd. | 1.4M | $418.0M | — | New |
| 6 | LYRICAL ASSET MANAGEMENT LP | 947.4K | $274.1M | — | New |
| 7 | WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 649.9K | $188.0M | — | New |
| 8 | DIMENSIONAL FUND ADVISORS LP | 603.1K | $174.5M | — | New |
| 9 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 582.3K | $168.5M | — | New |
| 10 | HSBC HOLDINGS PLC | 579.7K | $167.7M | — | New |
| 11 | UBS Group AG | 573.1K | $165.8M | — | New |
| 12 | JPMORGAN CHASE & CO | 571.7K | $159.9M | — | New |
| 13 | Legal & General Group Plc | 490.5K | $141.9M | — | New |
| 14 | Voya Investment Management LLC | 423.3K | $122.5M | — | New |
| 15 | BNP PARIBAS FINANCIAL MARKETS | 406.6K | $117.6M | — | New |
| 16 | DEUTSCHE BANK AG\ | 405.6K | $117.3M | — | New |
| 17 | Bank of New York Mellon Corp | 385.9K | $111.7M | — | New |
| 18 | Robeco Institutional Asset Management B.V. | 331.7K | $96.0M | — | New |
| 19 | VANGUARD FIDUCIARY TRUST CO | 318.1K | $92.0M | — | New |
| 20 | WESTFIELD CAPITAL MANAGEMENT CO LP | 298.5K | $86.4M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Product revenue grew 11% YoY to $410M—how much was driven by AI-related infrastructure refresh versus durable demand, and is this sustainable into FY26?
- 2
Operating cash flow fell 21% to $159M despite 8% earnings growth, driven by weaker deferred revenue and payables—what's the underlying RPO/billings trend?
- 3
You tripled buybacks to $301M while cash dropped $145M—why prioritize repurchases over M&A given competitive pressure from cloud-native ADC vendors?
Refreshed when FFIV files a new report · last from 2025-11-25