FFIV

F5, Inc.

$450.80

+1.98% 2026-10-19

Information TechnologyS&P 500

1M 3M 6M 1Y 2Y

FFIVSPY

-4.8%

+4.3%

+9.4%

+43.6%

YTD

+76.6%

+49.8%

Grades vs sector

Momentum

74th pct in sector

B+

12-1 return: +75.9%
Percentile within its GICS sector across the S&P 1500.

Growth

36th pct in sector

C-

Revenue growth (YoY): +10.9%
Percentile within its GICS sector across the S&P 1500.

Value

33rd pct in sector

C-

Forward E/P: 4.1% · EBITDA/EV: 3.9%
Percentile within its GICS sector across the S&P 1500.

Profitability

73rd pct in sector

B+

Profit margin: +22.0% · Return on equity: +19.8%
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 3 live models right now.

Momentum Top 15

rank 153 of 499 · 12-1 momentum % 26.0

Quality Growth

not ranked (outside this model's universe or screens)

Momentum Blend

not in the current book

Key stats

Market cap$25.5B

P/E (trailing)35.9

P/E (forward)24.9

52-week range223.76 – 483.30

Revenue growth (YoY, latest qtr)+10.9%

Dividend yield0.00%

Analyst consensusHold (10)

Mean price target$437.80 (-3%)

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -2 (DCF counts double).

▼DCF (base case)below the price by 18%

▼Forward P/E vs sector24.9x vs median 16.9x

▲Piotroski F-score8/9

▲Altman Z11.3 (safe)

▲Net debt / EBITDA-1.8x

•Analyst target-3% (10 analysts)

Discounted cash flow

Bear

$245

-46%

growth 3% · disc. 10.4% · term. 2.0%

Base

$370

-18%

growth 8% · disc. 9.4% · term. 2.5%

Bull

$539

+20%

growth 11% · disc. 8.4% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 9% a year for 10 years.

Implied

+9%/yr

FCF, last 3 yrs

+30%/yr

FCF, last 5 yrs

+9%/yr

Revenue, last 3 yrs

+5%/yr

Revenue, last 5 yrs

+6%/yr

Same inputs as the DCF above: trailing free cash flow 1.0B, 9.4% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.03 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.9× · 50th pct

35.9×
pricier

Forward P/E

sector median 16.9× · 76th pct

24.9×
pricier

EV / EBITDA

sector median 20.8× · 61st pct

26.3×
pricier

Price / sales

sector median 4.6× · 70th pct

7.7×
pricier

Price / book

sector median 5.1×

–

FCF yield

sector median 3.5% · 54th pct

3.8%
cheaper

Forward EPS $18.08 vs trailing $12.55 (+44% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$2.2B

as of 2026-06-30

vs a year ago

+10%

YoY

× TTM revenue

0.66×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

81.9%

Operating margin

24.5%

FCF margin

29.3%

Net margin

22.0%

Return on equity

–

Return on invested capital

–

Net debt / EBITDA

-1.8×

Current ratio

1.7×

Interest cover

–

Cash conversion (OCF/NI)

1.4×

Piotroski F-score 8/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✓ Gross margin improved✗ Asset turnover improved

Altman Z-score 11.3 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$438

-3%

Analysts

Hold

Range

$300–$525

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$3.1B	$692.4M	$906.4M
2024	$2.8B	$566.8M	$762.0M
2023	$2.8B	$394.9M	$599.2M
2022	$2.7B	$322.2M	$409.0M
2021	$2.6B	$331.2M	$614.5M
2020	$2.4B	$307.4M	$601.0M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +4.6%.

Earnings

Next report: 2026-10-27 · after close · EPS est 4.26

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-07-27	4.00	4.73	+18.2%
2026-04-28	3.46	3.90	+12.9%
2026-01-27	3.65	4.45	+21.9%
2025-10-27	3.97	4.39	+10.6%
2025-07-30	3.49	4.16	+19.2%
2025-04-28	3.09	3.42	+10.5%
2025-01-28	3.38	3.84	+13.7%
2024-10-28	3.45	3.67	+6.4%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$865.1M	+10.9%
2026-03-31	$811.7M	–
2025-12-31	$822.5M	–
2025-09-30	$810.1M	–
2025-06-30	$780.4M	–

Analyst actions

RBC Capital

2026-10-12 · main

Outperform → Outperform
PT $525

Morgan Stanley

2026-07-28 · main

Equal-Weight → Equal-Weight
PT $415

Piper Sandler

2026-07-28 · reit

Overweight → Overweight
PT $461

JP Morgan

2026-07-28 · main

Overweight → Overweight
PT $515

Barclays

2026-07-28 · main

Equal-Weight → Equal-Weight
PT $397

RBC Capital

2026-06-09 · main

Outperform → Outperform
PT $450