F5, Inc.

Telecommunications
Computer Communications Equipment
www.f5.com

Earnings Score
Moat Score

Market Cap $15.46B
PE 26
Debt -
Cash $1.15B
EV -
FCF $800.45M

Earnings

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Sales & Net Margins

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Earnings	$594.84M
EBIT	$730.11M
ROE	18%
ROA	12%
FCF	$800.45M
Equity	$3.24B
Growth Stability	71%
PE	25.99
PEG	1.88
PB	4.78
P/FCF	19.31
P/S	5.35
Price/Cash	0.07
Net Margins	22%
Gross Margins	81%
Op. Margins	25%
Earnings CAGR	1%
Sales Growth YoY	11%
Sales Growth QoQ	3%
Sales CAGR	5%
FCF CAGR	-2%
Equity CAGR	13%
Earnings Stability	0.01
Earnings Growth YoY	20%

Earnings Growth QoQ	1%
Earnings CAGR 5Y	14%
Sales CAGR 5Y	5%
FCF CAGR 5Y	4%
Equity CAGR 5Y	10%
Earnings CAGR 3Y	2%
Sales CAGR 3Y	2%
FCF CAGR 3Y	23%
Equity CAGR 3Y	12%
Market Cap	$15.46B
Revenue	$2.89B
Assets	$5.90B
Cash	$1.15B
Shares Outstanding	58.13M
Earnings Score	6%
Moat Score	95%
Working Capital	754.38M
Current Ratio	1.48
Gross Profit	$2.33B
Shares Growth 3y	-1%
Equity Growth QoQ	3%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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F5 is a market leader in the application delivery controller market. The company sells products for networking traffic, security, and policy management. Its products ensure applications are safely routed in efficient manners within on-premises data centers and across cloud environments. More than half of its revenue is based on providing services, and its three customer verticals are enterprises, service providers, and government entities. The Seattle-based firm was incorporated in 1996 and generates sales globally.

SEC Filings

Direct access to F5, Inc. (FFIV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does F5, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of F5, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 1%

Stability 1%

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F5, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for F5, Inc..

Years

Calculation mode

= $7.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$800M	$787M	$774M	$762M	$749M	$737M	$725M	$713M	$701M	$690M	$678M	$6.8B
DCF		$716M	$640M	$572M	$512M	$457M	$409M	$366M	$327M	$292M	$261M	$2.6B
Value	$7.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	19%	18%	20%	21%	19%	13%	13%	12%	14%	20%	22%
ROA	-	24%	23%	23%	16%	8%	8%	8%	9%	12%	12%
ROE	-	31%	34%	35%	24%	14%	14%	13%	14%	18%	18%

Good Net Margins (21.72%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	-	-	-	0	0.65	0.6	0.86	0	-	-
Debt over Equity	-	-	-	-	0	0.17	0.16	0.14	0	-	-
Growth Stability	-	-	-	100%	100%	71%	84%	91%	100%	100%	71%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (71%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2015	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	4%	5%	3%	4%	5%	11%	4%	4%	0%	5%
Earnings YoY growth	-	0%	15%	8%	-6%	-28%	8%	-3%	23%	44%	14%
Equity YoY growth	-	-10%	4%	5%	37%	27%	6%	5%	13%	12%	10%
FCF YoY growth	-	4%	8%	1%	-9%	-7%	2%	-33%	47%	27%	4%