Company file · FFIV
F5
F5's revenue rose 9.7% in FY2025, to $3.1B, and net income rose 22.2% to $692M
Revenue rose 9.7% to $3.1B in FY2025, from $2.8B in FY2024. Net income rose 22.2% to $692M. Services was the largest product or service, at 51% of revenue.
Key facts
F5 (Nasdaq: FFIV) closed fiscal 2025 on Sep 30, 2025 with revenue of $3.1B, up 9.7% from a year before; net income came to $692M, up 22.2%. Its newest quarterly report covers the three months to Jun 30, 2026: revenue of $865M, up 10.9% on the same stretch of the prior year, and net income of $208M. Broken down by product or service, Services led with 51% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Nov 25, 2025) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 6, 2026).
Source: 10-K FY2025, filed Nov 25, 2025
Source: 10-Q filed Feb 5, 2026 · 10-Q filed May 5, 2026 · 10-Q filed Aug 6, 2026
How it makes money
By product or service, FY2025
Source: 10-K FY2025, XBRL breakdown
By product or service in FY2025: Services (51%) and Products (49%), as shares of total revenue. Total revenue was $3.1B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 FY2026 (Apr to Jun 2026) compared with Q3 FY2025 (Apr to Jun 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 FY2026Q3 FY2025
Company
Source: F5 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026
By product or service
Source: F5 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026
The bull case and the bear case
The bull case
- Revenue rose 9.7% in FY2025 to $3.1B, from $2.8B a year earlier. 10-K, FY2025
- Net income rose 22.2% in FY2025 to $692M, from $567M. 10-K, FY2025
- Operating cash flow rose 19.8% in FY2025 to $950M. 10-K, FY2025
- Diluted shares fell 1.1% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
The bear case
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include competition; customer demand; security and privacy. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
F5 is in the communications equipment industry, part of the information technology sector. The SEC files it under Computer Communications Equipment.
The full description of F5's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.
Its fiscal year ends in September; the latest, FY2025, ended Sep 30, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the communications equipment industry. They are not a summary of F5’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- CompetitionTechnology markets move fast, and rivals large and small can change prices or products.
- Customer demandSpending by customers on technology rises and falls with their budgets and the economy.
- Security and privacyCyberattacks, outages and data-privacy rules can raise costs or harm customer trust.
- Supply and tradeReliance on suppliers and exposure to tariffs or export rules can limit what it can sell or build.
- Intellectual propertyPatent claims and licensing disputes can lead to costs or limits on products.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $2.8B | $2.8B | $3.1B |
| Net income | $395M | $567M | $692M |
| Operating cash flow | $653M | $792M | $950M |
| Cash & equivalents (year end) | $797M | $1.1B | $1.3B |
| Diluted shares | 60M | 59M | 59M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Risk factors (Item 1A)
- The cash flow statement
- Debt-to-equity ratio
- Return on equity (ROE)
- Market cap and enterprise value
- Short selling
- Order backlog
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
What we left out
- Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Aug 6, 2026 | Jun 30, 2026 |
| 10-Q | May 5, 2026 | Mar 31, 2026 |
| 10-Q | Feb 5, 2026 | Dec 31, 2025 |
| DEF 14A | Jan 26, 2026 | Mar 12, 2026 |
| 10-K | Nov 25, 2025 | Sep 30, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about F5
How does F5 make money?
Fiscal 2025 revenue: $3.1B. By product or service in FY2025: Services (51%) and Products (49%), as shares of total revenue. Total revenue was $3.1B. Source: 10-K for fiscal 2025, filed Nov 25, 2025.
What was F5's revenue in fiscal 2025?
$3.1B, up 9.7% from fiscal 2024 ($2.8B). The year ended Sep 30, 2025; for fiscal 2023 the figure was $2.8B. Source: 10-K for fiscal 2025, filed Nov 25, 2025.
Is F5 profitable?
Net income was $692M in fiscal 2025 (up 22.2%; fiscal 2024 was $567M). That counts as a GAAP profit. The latest quarter, ended Jun 30, 2026: net income was $208M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Nov 25, 2025.
What did F5 report in its latest quarterly filing?
For the three months to Jun 30, 2026: revenue $865M (up 10.9% from $780M) and net income $208M (up 9.6% from $190M). Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026.
What are the main risks F5 faces?
F5's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Nov 25, 2025. Risks that are common among companies in the communications equipment industry include Competition; customer demand; security and privacy; supply and trade; intellectual property. The first: Technology markets move fast, and rivals large and small can change prices or products. Source: 10-K, Item 1A Risk Factors.
Where do these F5 numbers come from?
The 10-K filed Nov 25, 2025 (fiscal 2025) and the 10-Q filed Aug 6, 2026 (quarter ended Jun 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning F5
- Millennium Management: 370,682 shares, reported value $154.2M at Jun 30, 2026 (+239.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Point72 Asset Management: 242,125 shares, reported value $100.7M at Jun 30, 2026 (−49.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 137,594 shares, reported value $57.2M at Jun 30, 2026 (+809.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 105,668 shares, reported value $44.0M at Jun 30, 2026 (−65.6% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Renaissance Technologies: 30,274 shares, reported value $12.6M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 13, 2026.
- Maverick Capital: 1,570 shares, reported value $0.7M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in FFIV
- The editor holds no position in F5 (FFIV). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell FFIV from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 9, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold FFIV, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| F5FFIV | FY2025 | $3.1B | +9.7% | $692M |
| CiscoCSCO | FY2026 | $63.3B | +11.8% | $13.3B |
| Arista NetworksANET | FY2025 | $9.0B | +28.6% | $3.5B |
| Motorola SolutionsMSI | FY2025 | $11.7B | +8.0% | $2.2B |
| LumentumLITE | FY2026 | $3.0B | +83.2% | −$6.9B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.