F5, Inc.

Information Technology Communications Equipment Seattle, Washington Last filing Nov 25, 2025 · FY2025

                    Revenue
                    FY2025
                
$3.1B
                    3y CAGR +4.6%
                    
                    P46
                    
                    +9.7%
                    
                    Net income
                    FY2025
                
$692.4M
                    Net margin +22.4%
                    
                    P74
                    
                    +22.2%
                    
                    Total assets
                    FY2025
                
$6.3B
                    ROA +11.0%
                    
                    P63
                    
                    +12.6%
                    
                    Operating cash flow
                    FY2025
                
$949.7M
                    FCF margin +29.4%
                    
                    P72
                    
                    +19.8%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 3 years

Total assets $6.3B

Total liabilities ~$2.7B

Shareholders equity $3.6B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	21.3%	19.1%	15.2%
Accounts Receivable	6.6%	6.9%	8.7%
Inventory	1.2%	1.4%	0.7%
Other Current Assets	10.8%	10.1%	10.6%
Total Current Assets	39.9%	37.6%	35.2%
Property,Plant and Equipment	2.5%	2.7%	3.2%
Operating Lease Assets	2.9%	3.2%	3.7%
Goodwill	38.7%	41.2%	43.6%
Long Term Investments	0.2%	0.2%	0.1%
Deferred Tax Assets	7.1%	6.5%	5.6%
Other Noncurrent Assets	8.7%	8.7%	8.5%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	1.3%	1.2%	1.2%
Accrued Liabilities	5.0%	5.3%	5.4%
Deferred Revenue	19.2%	20.0%	21.5%
Total Current Liabilities	25.5%	26.5%	28.1%
Deferred Revenue Noncurrent	12.4%	12.0%	12.4%
Operating Lease Liabilities Noncurrent	3.7%	3.8%	4.6%
Deferred Tax Liabilities	0.0%	0.1%	0.1%
Other Noncurrent Liabilities	1.5%	1.7%	1.6%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.7%	0.1%	0.5%
Retained Earnings	56.5%	56.0%	53.3%
Accumulated Other Comprehensive Income	-0.3%	-0.4%	-0.4%
Total Stockholders Equity	56.8%	55.8%	53.4%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $3.1B

Operating income $765.9M

Net income $692.4M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	48.9%	50.2%	53.6%
Expenses Cost of Revenue	9.1%	9.9%	11.3%
Other Income Expense Gross Profit	39.8%	40.2%	42.3%
Expenses Research and Development	8.5%	8.7%	10.3%
Expenses Selling,General and Administrative	18.7%	19.6%	21.8%
Expenses Restructuring and Asset Impairment	0.4%	0.2%	1.2%
Expenses Operating Expenses	27.7%	28.5%	33.3%
Other Income Expense Operating Income	12.1%	11.7%	9.0%
Other Income Expense Other Income/expense	0.7%	0.7%	0.3%
Other Income Expense Income Before Tax	12.8%	12.4%	9.3%
Income Tax Income Tax Expense	1.8%	2.3%	1.7%
net Income net Income	11.0%	10.1%	7.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.9%	1.1%	1.1%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $949.7M

Investing cash flow $-219.5M

Financing cash flow $-464.8M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	11.0%	10.1%	7.5%
Operating Activities Depreciation and Amortization	1.5%	1.9%	2.1%
Operating Activities Stock Based Compensation	3.7%	3.9%	4.5%
Operating Activities Deferred Income Taxes	-1.1%	-1.2%	-2.1%
Operating Activities Changes In Operating Assets and Liabilities	-0.5%	-1.1%	-0.5%
Operating Activities Other Non Cash Items	0.6%	0.6%	0.8%
Operating Activities net Cash From Operating Activities	15.0%	14.1%	12.4%
Investing Activities Capital Expenditures	-0.7%	-0.5%	-1.0%
Investing Activities Business Acquisitions	-2.7%	-0.6%	-0.7%
Investing Activities Purchases of Investments	-0.1%	-0.0%	-0.0%
Investing Activities Proceeds From Sale of Investments	0.0%	0.1%	2.4%
Investing Activities net Cash From Investing Activities	-3.5%	-1.1%	0.7%
Financing Activities Repayment of Debt	0.0%	0.0%	-6.7%
Financing Activities Repurchase of Common Stock	-7.9%	-8.9%	-6.7%
Financing Activities Proceeds From Stock Issuance	0.9%	1.0%	1.1%
Financing Activities Tax Withholding On Stock Based Compensation	-0.3%	-0.2%	-0.3%
Financing Activities net Cash From Financing Activities	-7.4%	-8.1%	-12.4%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	0.0%
Cash Reconciliation net Change In Cash	4.2%	4.9%	0.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+81.4%	+80.2%	+78.9%
Operating margin	+24.8%	+23.4%	+16.8%
Net margin	+22.4%	+20.1%	+14.0%
FCF margin	+29.4%	+27.1%	+21.3%
Growth
Revenue CAGR (3y)	+4.6%	+2.7%	+6.2%
Returns
ROE	+19.3%	+18.1%	+14.1%
ROA	+11.0%	+10.1%	+7.5%
ROIC	—	—	—
Liquidity
Current ratio	1.56x	1.42x	1.26x
Quick ratio	1.09x	0.98x	0.85x
Leverage
D/E	0.76x	0.79x	0.87x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.49x	0.50x	0.54x
Cash conversion cycle	+45d	+56d	+42d

Valuation

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FY2025 fundamentals · no price

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F5, Inc.

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