Loading…
F5, Inc. provides multicloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region. The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud. It also offers unified, security, networking, and application management solutions, such as web app and API protection; multi-cloud networking; application delivery and deployment; domain name system; content delivery network; and application deployment and orchestration. In addition, the company provides application security and delivery products, including NGINX Plus; NGINX One Console; NGINX Ingress Controller; WAF for NGINX; BIG-IP Packaged Software; and BIG-IP Systems. Further, it provides a range of professional services, including maintenance, consulting, training, and other technical support services. The company sells its products to large enterprise businesses, public sector institutions, governments, and service providers through distributors, value-added resellers, managed service providers, systems integrators, and other indirect channel partners. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.1B | $884M | $692M | $906M | 19.3% | 9.7% | 22.2% |
| 2024 | $2.8B | $774M | $567M | $762M | 18.1% | 0.1% | 43.5% |
| 2023 | $2.8B | $651M | $395M | $599M | 14.1% | 4.4% | 22.6% |
| 2022 | $2.7B | $527M | $322M | $409M | 13.0% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,695.84 | 2,813.17 | 2,816.12 | 3,088.07 |
| Operating Revenue | - | 2,695.84 | 2,813.17 | 2,816.12 | 3,088.07 |
| Cost Of Revenue | - | 539.63 | 593.31 | 557.65 | 573.98 |
| Gross Profit | - | 2,156.22 | 2,219.86 | 2,258.47 | 2,514.09 |
| Operating Expense | - | 1,744.52 | 1,681.90 | 1,591.23 | 1,722.66 |
| Research And Development | - | 543.37 | 540.28 | 490.12 | 539.82 |
| Selling General And Administration | - | 1,201.15 | 1,141.62 | 1,101.11 | 1,182.85 |
| Total Expenses | - | 2,284.14 | 2,275.21 | 2,148.87 | 2,296.64 |
| Operating Income | - | 411.70 | 537.96 | 667.25 | 791.43 |
| Total Operating Income As Reported | - | 403.79 | 472.57 | 658.59 | 765.95 |
| EBITDA | - | 527.31 | 650.66 | 774.24 | 883.83 |
| Normalized EBITDA | - | 535.22 | 716.05 | 782.89 | 909.32 |
| EBIT | - | 411.70 | 537.96 | 667.25 | 791.43 |
| Other Non Operating Income Expenses | - | -18.40 | 13.42 | 36.87 | 42.39 |
| Other Income Expense | - | -26.31 | -51.97 | 28.22 | 16.90 |
| Pretax Income | - | 385.39 | 485.99 | 695.46 | 808.34 |
| Tax Provision | - | 63.23 | 91.04 | 128.69 | 115.96 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.30 | -12.23 | -1.60 | -3.64 |
| Net Income Continuous Operations | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Net Income From Continuing And Discontinued Operation | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Net Income From Continuing Operation Net Minority Interest | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Net Income | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Net Income Common Stockholders | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Net Income Including Noncontrolling Interests | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Normalized Income | - | 328.77 | 448.11 | 573.83 | 714.22 |
| Diluted NI Availto Com Stockholders | - | 322.16 | 394.95 | 566.78 | 692.38 |
| Basic Average Shares | - | 60.27 | 59.91 | 58.72 | 57.90 |
| Diluted Average Shares | - | 61.10 | 60.27 | 59.36 | 58.68 |
| Reconciled Depreciation | - | 115.61 | 112.70 | 106.99 | 92.40 |
| Reconciled Cost Of Revenue | - | 539.63 | 593.31 | 557.65 | 573.98 |
| Total Unusual Items | - | -7.91 | -65.39 | -8.65 | -25.48 |
| Total Unusual Items Excluding Goodwill | - | -7.91 | -65.39 | -8.65 | -25.48 |
| Special Income Charges | - | -7.91 | -65.39 | -8.65 | -25.48 |
| Restructuring And Mergern Acquisition | - | 7.91 | 65.39 | 8.65 | 25.48 |
| General And Administrative Expense | - | 274.56 | 263.40 | 268.83 | 322.34 |
| Other Gand A | - | 274.56 | 263.40 | 268.83 | 322.34 |
| Selling And Marketing Expense | - | 926.59 | 878.22 | 832.28 | 860.51 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| F5, Inc.this co. | FFIV | $23.1B | 33.30↑ premium | 6.42 | 19.3% | 24.86 |
| VeriSign, Inc. | VRSN | $26.7B | 32.38 | -12.41 | -38.3% | 23.99 |
| Atlassian Corporation | TEAM | $25.8B | -100.35 | 19.14 | -19.1% | 1018.89 |
| Cognizant Technology Solutions Corporation | CTSH | $25.3B | 11.33 | 1.68 | 14.9% | 6.02 |
| HP Inc. | HPQ | $24.1B | 9.51 |
| - |
| - |
| - |
| -69.51 |
| -730.9% |
| 7.55 |
| Corpay, Inc. | CPAY | $23.3B | 21.82 | 6.01 | 27.5% | 13.23 |
| Akamai Technologies, Inc. | AKAM | $23.1B | 51.13 | 4.64 | 9.1% | 20.57 |
| Zscaler, Inc. | ZS | $21.9B | -527.34 | 12.16 | -2.3% | 196.82 |
| Fidelity National Information Services, Inc. | FIS | $21.4B | 56.13 | 1.54 | 2.7% | 9.90 |
| Peer Median | - | 16.57 | 3.16 | 0.2% | 16.90 | |