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F5, Inc.
(NASDAQ:FFIV)
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Rating:80Outperform
Price Target:
$469.00
▲(19.58% Upside)
Action:Reiterated
Date:07/28/26
FFIV scores well primarily on strong financial performance (high margins, strong free cash flow, and low leverage) and a positive earnings-call setup with raised guidance and ongoing buybacks. Offsetting factors are a relatively high P/E with no dividend yield support and only moderate/uncertain near-term technical momentum based on moving averages alone.
Positive Factors
High & Improving Profitability
FFIV sustains exceptionally high gross and operating margins, which have expanded versus prior years. That margin durability funds R&D, go-to-market investment and shareholder returns, and provides structural earnings resilience even if top-line growth moderates.
Negative Factors
APAC Revenue Weakness
A material APAC decline reduces geographic diversification and highlights exposure to regional cycles or competitiveness. If the weakness persists it can constrain overall growth and make FY guidance reliant on Americas/EMEA execution and customer concentration.
Read all positive and negative factors
Positive Factors
Negative Factors
High & Improving Profitability
FFIV sustains exceptionally high gross and operating margins, which have expanded versus prior years. That margin durability funds R&D, go-to-market investment and shareholder returns, and provides structural earnings resilience even if top-line growth moderates.
Read all positive factors
F5, Inc. Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business units, highlighting which segments drive growth and profitability, and where strategic focus may be needed.
Breaks down revenue across different business units, highlighting which segments drive growth and profitability, and where strategic focus may be needed.
Data provided by:
The Fly
The FlyF5, Inc. (FFIV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$21.93B
Dividend YieldN/A
Average Volume (3M)569.37K
Price to Earnings (P/E)31.7
Beta (1Y)0.78
Revenue Growth9.41%
EPS Growth10.59%
CountryUS
Employees6,578
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)12.70
Shares Outstanding56,419,247
10 Day Avg. Volume511,750
30 Day Avg. Volume569,365
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)5.21
Price to Sales (P/S)6.06
P/FCF Ratio20.65
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$428.44Price Target Upside9.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)16.49
Revenue Forecast (FY)$3.33B
F5, Inc. Business Overview & Revenue Model
Company Description
F5, Inc. is a technology company specializing in comprehensive solutions designed to secure and optimize the delivery of applications across various cloud environments. Their core mission is to guarantee the security, peak performance, and constan...
How the Company Makes Money
F5 primarily makes money by selling application delivery and security products and associated services to enterprises, service providers, and public-sector customers. Key revenue streams include: (1) Software and SaaS subscriptions: Revenue from t...
F5, Inc. Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational execution and robust top-line performance, led by 19% product growth and 32% systems growth, healthy profitability (non-GAAP margins and 14% EPS growth), raised full-year guidance, significant AI momentum (50% growth in direct AI customers, 100% in AI security customers) and solid cash generation. Headwinds were limited to an APAC revenue decline, softer software growth due to a prior weak renewal cohort, a small decline in perpetual licenses, and reserved caution on FY2027 gross margins due to component-price volatility. On balance the positive metrics, guidance raise, product momentum and cash strength outweigh the contained operational risks.Positive Updates
Strong Overall Revenue Growth
Total revenue grew 11% year-over-year to $865 million in Q3 FY2026, above the top end of guidance. Company raised full-year FY2026 revenue outlook to ~9%–10% growth (up from 7%–8%) and provided Q4 revenue guidance of $870M–$890M (~just under 9% YoY at midpoint).
Negative Updates
APAC Revenue Decline
APAC revenue decreased 11% YoY in Q3 and represented 15% of total revenue. Management indicated this decline is against a strong prior-year period and underlying demand remains healthy, but region was a notable weakness in reported results.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Overall Revenue Growth
Total revenue grew 11% year-over-year to $865 million in Q3 FY2026, above the top end of guidance. Company raised full-year FY2026 revenue outlook to ~9%–10% growth (up from 7%–8%) and provided Q4 revenue guidance of $870M–$890M (~just under 9% YoY at midpoint).
Read all positive updates
Company Guidance
F5 guided Q4 revenue of $870–$890 million (about just under 9% year‑over‑year at the midpoint) with Q4 non‑GAAP gross margin of 83%–84%, non‑GAAP operating expenses of $430–$442 million, share‑based compensation of ~$68–$70 million, and Q4 non‑GAAP EPS of $4.14–$4.26. For full‑year FY‑2026 they raised revenue growth to ~9%–10% (from 7%–8%), expect FY‑26 non‑GAAP gross margin of 83.5%–84% and non‑GAAP operating margin of 34.5%–35.5%, a non‑GAAP effective tax rate of 18%–19%, and non‑GAAP EPS of $17.21–$17.33 (up from $16.25–$16.55); they also reiterated mid‑single‑digit software growth, double‑digit systems growth and low‑single‑digit services growth for the year, left FY‑27 gross‑margin guidance at 80%–82%, and said they expect to repurchase at least 50% of free cash flow.F5, Inc. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.31B | 3.09B | 2.82B | 2.81B | 2.70B | 2.60B |
| Gross Profit | 2.72B | 2.51B | 2.26B | 2.22B | 2.16B | 2.11B |
| EBITDA | 932.13M | 883.83M | 774.24M | 650.66M | 527.31M | 502.36M |
| Net Income | 726.51M | 692.38M | 566.78M | 394.95M | 322.16M | 331.24M |
Balance Sheet | ||||||
| Total Assets | 6.83B | 6.32B | 5.61B | 5.25B | 5.28B | 5.00B |
| Cash, Cash Equivalents and Short-Term Investments | 1.61B | 1.34B | 1.07B | 803.32M | 884.57M | 910.61M |
| Total Debt | 218.70M | 492.54M | 465.35M | 520.55M | 937.05M | 1.01B |
| Total Liabilities | 2.97B | 2.73B | 2.48B | 2.45B | 2.81B | 2.64B |
| Stockholders Equity | 3.86B | 3.59B | 3.13B | 2.80B | 2.47B | 2.36B |
Cash Flow | ||||||
| Free Cash Flow | 969.60M | 906.41M | 762.01M | 599.23M | 409.01M | 614.54M |
| Operating Cash Flow | 1.05B | 949.67M | 792.42M | 653.41M | 442.63M | 645.20M |
| Investing Cash Flow | -278.00M | -219.49M | -59.21M | 36.39M | 218.12M | -445.33M |
| Financing Cash Flow | -591.33M | -464.81M | -457.00M | -653.30M | -476.51M | -468.28M |
F5, Inc. Technical Analysis
Positive
392.21
Price Trends
401.02
Positive
356.54
Positive
310.98
Positive
Market Momentum
1.16
Positive
43.58
Neutral
12.18
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FFIV, the sentiment is Positive. The current price of 392.21 is below the 20-day moving average (MA) of 409.67, below the 50-day MA of 401.02, and above the 200-day MA of 310.98, indicating a neutral trend. The MACD of 1.16 indicates Positive momentum. The RSI at 43.58 is Neutral, neither overbought nor oversold. The STOCH value of 12.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FFIV.
F5, Inc. Risk Analysis
F5, Inc. disclosed 41 risk factors in its most recent earnings report. F5, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
F5, Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $21.93B | 31.70 | 19.86% | ― | 9.41% | 10.59% | |
80 Outperform | $265.43B | 278.85 | 6.30% | ― | 19.51% | -33.05% | |
78 Outperform | $113.01B | 56.63 | 187.95% | ― | 18.77% | 12.93% | |
75 Outperform | $188.60B | -4,018.11 | -0.58% | ― | 23.17% | 73.57% | |
68 Neutral | $24.00B | -315.00 | -3.71% | ― | 24.61% | -91.58% | |
67 Neutral | $100.64B | -1,122.43 | -6.23% | ― | 31.55% | -4.50% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
FFIV
F5, Inc.
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30.95%
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NET
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278.98
78.87
39.41%
F5, Inc. Corporate Events
Business Operations and StrategyExecutive/Board Changes
F5 Adds Gavin Munroe to Board and Committees
Positive
Jun 23, 2026
On June 17, 2026, F5, Inc. appointed technology executive Gavin Munroe to its board of directors, expanding the board to 10 members, nine of whom are independent, and placing him on both the Audit and Risk committees with standard non‑employ...
Business Operations and StrategyExecutive/Board Changes
F5 Adds Anand Eswaran to Board, Strengthening AI Focus
Positive
Apr 28, 2026
On April 24, 2026, F5, Inc. appointed Anand Eswaran to its board of directors, expanding the board to nine members, eight of whom are independent. He will sit on the Audit and Talent and Compensation Committees and receive standard non‑emplo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.