(FFIV) F5 Networks - Overview
Stock: Load Balancer, Firewall, WAF, API Gateway, CDN
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 30.0% |
| Relative Tail Risk | -9.72% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.29 |
| Alpha | -24.70 |
| Character TTM | |
|---|---|
| Beta | 1.021 |
| Beta Downside | 1.118 |
| Drawdowns 3y | |
|---|---|
| Max DD | 34.73% |
| CAGR/Max DD | 0.70 |
Description: FFIV F5 Networks December 19, 2025
F5, Inc. (NASDAQ:FFIV) delivers multicloud application security and delivery solutions across a global footprint, enabling customers to run workloads on-premises, in public clouds, or in hybrid environments. Its portfolio spans unified networking and security functions-including web-app and API protection, multi-cloud networking, DNS, CDN, and orchestration tools-plus a suite of products such as NGINX Plus, NGINX One Console, BIG-IP hardware/software, and associated professional services.
According to the FY 2023 Form 10-K, F5 generated $2.98 billion in revenue, a 7 % year-over-year increase, with non-GAAP operating margin expanding to 23 %. NGINX-related subscriptions now represent roughly 30 % of total revenue, reflecting the market’s shift toward software-defined, cloud-native delivery. The company’s subscription-based ARR grew at ~15 % CAGR over the past three years, underscoring the recurring-revenue model’s resilience.
Key macro drivers for F5’s market include the accelerating adoption of multi-cloud architectures (projected to reach 80 % of enterprise workloads by 2026) and rising enterprise security spend, which the IDC forecasts will grow at 9 % annually through 2027. Additionally, the surge in API-centric applications fuels demand for NGINX Ingress Controller and WAF solutions, positioning F5 to capture a larger share of the API security segment.
For a deeper, data-driven assessment of FFIV’s valuation metrics and scenario analysis, consider exploring the detailed model on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 706.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 0.12 > 1.0 |
| NWC/Revenue: 28.51% < 20% (prev 26.10%; Δ 2.41% < -1%) |
| CFO/TA 0.14 > 3% & CFO 906.1m > Net Income 706.0m |
| Net Debt (-1.20b) to EBITDA (887.7m): -1.35 < 3 |
| Current Ratio: 1.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (58.2m) vs 12m ago -1.51% < -2% |
| Gross Margin: 81.71% > 18% (prev 0.81%; Δ 8091 % > 0.5%) |
| Asset Turnover: 51.57% > 50% (prev 48.98%; Δ 2.60% > 0%) |
| Interest Coverage Ratio: -27.34 > 6 (EBITDA TTM 887.7m / Interest Expense TTM -29.0m) |
Altman Z'' 5.00
| A: 0.14 (Total Current Assets 2.52b - Total Current Liabilities 1.62b) / Total Assets 6.29b |
| B: 0.56 (Retained Earnings 3.55b / Total Assets 6.29b) |
| C: 0.13 (EBIT TTM 793.2m / Avg Total Assets 6.10b) |
| D: 1.29 (Book Value of Equity 3.54b / Total Liabilities 2.75b) |
| Altman-Z'' Score: 5.00 = AAA |
Beneish M -3.42
| DSRI: 0.49 (Receivables 493.6m/918.9m, Revenue 3.14b/2.89b) |
| GMI: 0.99 (GM 81.71% / 80.56%) |
| AQI: 1.00 (AQ_t 0.54 / AQ_t-1 0.54) |
| SGI: 1.09 (Revenue 3.14b / 2.89b) |
| TATA: -0.03 (NI 706.0m - CFO 906.1m) / TA 6.29b) |
| Beneish M-Score: -3.42 (Cap -4..+1) = AA |
What is the price of FFIV shares?
Over the past week, the price has changed by +0.35%, over one month by +2.19%, over three months by +11.48% and over the past year by -10.04%.
Is FFIV a buy, sell or hold?
- StrongBuy: 0
- Buy: 1
- Hold: 11
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the FFIV price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 310.3 | 12.2% |
| Analysts Target Price | 310.3 | 12.2% |
| ValueRay Target Price | 299.7 | 8.4% |
FFIV Fundamental Data Overview January 31, 2026
P/E Forward = 18.1818
P/S = 5.22
P/B = 4.5378
P/EG = 1.8737
Revenue TTM = 3.14b USD
EBIT TTM = 793.2m USD
EBITDA TTM = 887.7m USD
Long Term Debt = 261.8m USD (from capitalLeaseObligations, last fiscal year)
Short Term Debt = 31.0m USD (from shortTermDebt, last fiscal year)
Debt = 261.8m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -1.20b USD (from netDebt column, last quarter)
Enterprise Value = 15.47b USD (16.41b + Debt 261.8m - CCE 1.20b)
Interest Coverage Ratio = -27.34 (Ebit TTM 793.2m / Interest Expense TTM -29.0m)
EV/FCF = 17.97x (Enterprise Value 15.47b / FCF TTM 861.2m)
FCF Yield = 5.57% (FCF TTM 861.2m / Enterprise Value 15.47b)
FCF Margin = 27.39% (FCF TTM 861.2m / Revenue TTM 3.14b)
Net Margin = 22.45% (Net Income TTM 706.0m / Revenue TTM 3.14b)
Gross Margin = 81.71% ((Revenue TTM 3.14b - Cost of Revenue TTM 575.0m) / Revenue TTM)
Gross Margin QoQ = 81.55% (prev 82.24%)
Tobins Q-Ratio = 2.46 (Enterprise Value 15.47b / Total Assets 6.29b)
Interest Expense / Debt = 2.84% (Interest Expense 7.44m / Debt 261.8m)
Taxrate = 19.23% (42.9m / 222.9m)
NOPAT = 640.7m (EBIT 793.2m * (1 - 19.23%))
Current Ratio = 1.55 (Total Current Assets 2.52b / Total Current Liabilities 1.62b)
Debt / Equity = 0.07 (Debt 261.8m / totalStockholderEquity, last quarter 3.54b)
Debt / EBITDA = -1.35 (Net Debt -1.20b / EBITDA 887.7m)
Debt / FCF = -1.39 (Net Debt -1.20b / FCF TTM 861.2m)
Total Stockholder Equity = 3.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.58% (Net Income 706.0m / Total Assets 6.29b)
RoE = 20.29% (Net Income TTM 706.0m / Total Stockholder Equity 3.48b)
RoCE = 21.20% (EBIT 793.2m / Capital Employed (Equity 3.48b + L.T.Debt 261.8m))
RoIC = 18.52% (NOPAT 640.7m / Invested Capital 3.46b)
WACC = 9.56% (E(16.41b)/V(16.67b) * Re(9.68%) + D(261.8m)/V(16.67b) * Rd(2.84%) * (1-Tc(0.19)))
Discount Rate = 9.68% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.26%
[DCF Debug] Terminal Value 76.35% ; FCFF base≈836.9m ; Y1≈1.03b ; Y5≈1.76b
Fair Price DCF = 417.5 (EV 22.52b - Net Debt -1.20b = Equity 23.72b / Shares 56.8m; r=9.56% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 91.69 | EPS CAGR: 21.71% | SUE: 2.38 | # QB: 7
Revenue Correlation: 87.54 | Revenue CAGR: 7.18% | SUE: 3.98 | # QB: 3
EPS next Quarter (2026-03-31): EPS=3.44 | Chg30d=+0.060 | Revisions Net=+1 | Analysts=11
EPS current Year (2026-09-30): EPS=15.95 | Chg30d=+0.919 | Revisions Net=+1 | Growth EPS=+0.9% | Growth Revenue=+5.9%
EPS next Year (2027-09-30): EPS=16.79 | Chg30d=+0.594 | Revisions Net=+1 | Growth EPS=+5.3% | Growth Revenue=+3.3%