F5, Inc.
- Open
- 399.21
- Day high
- 413.54
- Day low
- 391.97
- Prev close
- 403.41
- Volume
- 441K
- Mkt cap
- $23.1B
- P/E (TTM)
- 33.2
- EPS (TTM)
- $12.32
- P/B
- 6.3
- P/S
- 7.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$7.8M over the last 3 months (0 open-market buys, 20 sales)
- 🏛Institutions mixed (13F)
F5, Inc. (FFIV) is a Technology company listed on NASDAQ. The stock is up 35% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 20 sales (SEC Form 4).
F5, Inc. (FFIV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FFIV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $3.47 | $3.90 | +12.4% | $812M | +3.6% |
| Jan 27, 2026 | $3.64 | $4.45 | +22.3% | $822M | +5.0% |
| Jul 30, 2025 | $3.51 | $4.16 | +18.5% | $780M | +3.5% |
| Jan 28, 2025 | $3.36 | $3.84 | +14.3% | $766M | +7.1% |
| Jan 29, 2024 | $3.03 | $3.43 | +13.2% | $693M | +1.1% |
| Jul 24, 2023 | $2.86 | $3.21 | +12.2% | $703M | +0.5% |
| Apr 19, 2023 | $2.42 | $2.53 | +4.5% | $703M | +0.6% |
| Jan 24, 2023 | $2.34 | $2.47 | +5.6% | $700M | -0.1% |
| Jul 25, 2022 | $2.23 | $2.57 | +15.2% | $674M | +1.1% |
| Jan 25, 2022 | $2.79 | $2.89 | +3.6% | $687M | +1.4% |
| Jan 26, 2021 | $2.50 | $2.59 | +3.6% | $625M | +5.1% |
| Jul 27, 2020 | $2.05 | $2.18 | +6.3% | $583M | +6.9% |
FFIV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 12, 2026 | Buse Elizabethdirector | Sell | 626 | $399.29 |
| Jun 12, 2026 | Buse Elizabethdirector | Sell | 120 | $400.58 |
| Jun 12, 2026 | Buse Elizabethdirector | Sell | 40 | $401.05 |
| Jun 12, 2026 | Buse Elizabethdirector | Sell | 214 | $398.53 |
| Jun 3, 2026 | Werner Edward Cooperofficer: Chief Financial Officer | Sell | 2,500 | $400.00 |
| May 12, 2026 | Werner Edward Cooperofficer: Chief Financial Officer | Sell | 1,500 | $350.00 |
| May 12, 2026 | WHALEN CHAD MICHAELofficer: EVP, Worldwide Sales | Sell | 6,200 | $350.19 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 80 | $335.27 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 200 | $332.52 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 480 | $338.60 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 40 | $331.05 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 1,268 | $337.78 |
| May 7, 2026 | FOUNTAIN THOMAS DEANofficer: EVP Global Services & Strategy | Sell | 1,328 | $330.58 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 1,332 | $336.92 |
| May 7, 2026 | Locoh-Donou Francoisdirector, officer: President, CEO & Director | Sell | 383 | $339.88 |
Source: FFIV SEC Form 4 filings, latest Jun 12, 2026. For informational purposes only — not investment advice.
See the full FFIV insider & 13F page →F5, Inc. company profile
Overview
F5, Inc. (NASDAQ:FFIV) is a Seattle-based technology company founded in 1996 that specializes in multi-cloud application security and delivery solutions. Originally known as F5 Networks, Inc., the company changed its name to F5, Inc. in November 2021 to reflect its evolution beyond traditional networking hardware. F5 went public in 1999 and has transformed from a hardware-centric networking company into a comprehensive software and security solutions provider, serving large enterprises, government institutions, and service providers globally across hybrid and multi-cloud environments.
Business
F5 operates in the application delivery and security infrastructure market, providing solutions that ensure applications run securely, reliably, and efficiently across different computing environments. The company's core mission is to help organizations manage the complexity of modern hybrid multi-cloud architectures, where applications and data are distributed across on-premises data centers, public clouds like Amazon Web Services, Microsoft Azure, and Google Cloud Platform, and edge locations. The company's product portfolio spans three main categories. Hardware systems include BIG-IP appliances and VIPRION chassis, which are specialized network devices that sit between users and applications to manage traffic, provide security, and optimize performance. These systems include modules like Local Traffic Manager for load balancing, Advanced Firewall Manager for network security, and Application Security Manager for protecting web applications from attacks. Software solutions encompass Virtual Editions of their hardware functionality, NGINX Plus (a high-performance web server and load balancer), and various security applications that can run on standard servers or in cloud environments. SaaS offerings through their Distributed Cloud Services provide security and application delivery capabilities delivered as cloud-based services, including Shape Defense for bot protection and Silverline for DDoS protection. Based on recent financial data, F5's revenue is roughly split between Global Services (approximately 54% of revenue) which includes maintenance, support, and professional services, and Product revenue (approximately 46%) which is further divided between Software (about 47% of product revenue) and Systems hardware (about 53% of product revenue). The company has been strategically shifting toward software and recurring revenue models, with software now representing a much larger portion of the business compared to its hardware-centric origins.
Revenue model
F5 generates revenue through multiple complementary streams that create a balanced and recurring business model. Product sales constitute the primary revenue driver, split between hardware systems sales and software licensing. Hardware systems generate revenue through direct sales of specialized appliances and chassis, while software revenue comes from both perpetual licenses and subscription-based models. Global Services represents the largest single revenue segment, providing ongoing maintenance contracts, technical support, professional services, and training to customers who have deployed F5 solutions. The company's customers are primarily large enterprises, government institutions, and service providers who pay for F5's solutions to ensure their critical applications remain secure, available, and performant. These organizations typically make substantial upfront investments in F5 infrastructure and then maintain long-term service relationships, creating a highly recurring revenue base that now represents approximately 72% of total company revenue. Several factors influence F5's profitability margins. Positive margin drivers include the ongoing shift toward higher-margin software and SaaS offerings, the recurring nature of maintenance and support contracts, and the company's ability to command premium pricing due to the mission-critical nature of their solutions. Additionally, technology refresh cycles drive hardware replacement demand, while the increasing complexity of hybrid multi-cloud environments creates expansion opportunities within existing customer accounts. Margin pressures come from competitive dynamics in the networking and security markets, macroeconomic conditions that cause customers to delay large infrastructure investments, supply chain constraints affecting hardware component costs, and the need for continuous R&D investment to stay competitive in rapidly evolving technology areas like AI and cloud-native applications.
Competitive moat
F5 possesses a moderate to strong competitive moat built primarily on customer switching costs, technical expertise, and mission-critical positioning. The company's solutions are deeply integrated into customers' application infrastructure, making replacement costly and risky due to the potential for service disruptions. This creates significant switching costs, as migrating away from F5 requires substantial technical effort, retraining, and validation testing. Additionally, F5 has built specialized expertise in application delivery networking that is difficult to replicate, particularly in complex hybrid multi-cloud environments where performance and security requirements are stringent. The company's moat is strengthened by its comprehensive product portfolio that spans hardware, software, and cloud services, allowing it to serve as a single vendor for multiple infrastructure needs. F5's established relationships with large enterprises and service providers, combined with its track record of reliability in mission-critical environments, create additional barriers to competitive displacement. However, the moat faces several challenges. Cloud-native alternatives from hyperscale cloud providers like AWS, Microsoft, and Google offer integrated application delivery and security services that may be sufficient for many workloads, potentially reducing demand for third-party solutions. Open-source technologies and newer cloud-native companies provide alternative approaches that may appeal to organizations building modern applications. The company must also contend with established competitors like Citrix, Radware, and emerging security vendors who continue to innovate in overlapping market segments. F5's ability to maintain its moat depends on successfully transitioning customers to its software and cloud-based offerings while demonstrating unique value in an increasingly commoditized infrastructure market.
Risks & safety
F5 demonstrates a strong financial position with solid margins of safety across multiple metrics. • Liquidity and Debt: The company maintains excellent cash position with $1.26 billion in cash and short-term investments as of Q2 2025, providing substantial operational flexibility. Debt levels are minimal with a debt-to-equity ratio of just 0.07, indicating very low solvency risk. • Profitability and Cash Generation: Strong free cash flow generation of $246 million in Q2 2025 and $762 million for full year 2024 demonstrates the business's cash-generative nature. Current ratio of 1.53 indicates adequate short-term liquidity coverage. • Valuation Metrics: Trading at P/E ratio of 26.5x and EV/EBITDA of 19.8x, which appears reasonable for a profitable technology company with recurring revenue characteristics, though not particularly cheap. • Other Considerations: The high percentage of recurring revenue (72% of total) provides revenue stability and predictability. However, the company operates in a competitive technology market requiring continuous R&D investment to maintain relevance.
Recent development
Over the past few years, F5 has executed a significant strategic transformation from a hardware-centric networking company to a comprehensive application security and delivery platform provider. The company launched its F5 Application Delivery and Security Platform (ADSP) to unify its product offerings and simplify customer experience across hybrid multi-cloud environments. A major focus has been developing AI-driven capabilities and positioning for AI infrastructure opportunities. F5 introduced an AI Gateway, iRule Code Generator, and expanded AI assistant functionality to help customers manage increasingly complex application environments. The company has identified three key AI revenue opportunities: high-performance data delivery for AI workloads, API security for AI inferencing, and AI factory load balancing for GPU clusters. Strategic partnerships with NVIDIA and other AI infrastructure providers have been established to capitalize on this emerging market. The company has aggressively expanded its Distributed Cloud Services SaaS offerings, surpassing 1,000 enterprise customers within 30 months of launch. This cloud-native platform consolidates security and application delivery services, representing F5's transition toward consumption-based business models. The platform integrates bot management, DDoS protection, and web application firewall capabilities into a unified offering. F5 has also been actively pursuing competitive displacement opportunities, particularly as competitors undergo their own strategic transitions. The company has focused on hardware refresh cycles, leveraging upcoming end-of-support dates for legacy products to drive customer migrations to newer F5 platforms. Recent quarters have shown strong momentum in systems revenue growth driven by technology refresh, data center modernization, and direct AI use cases.
FFIV company profile · for informational purposes only — not investment advice.
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