F5, INC.(FFIV)Stock Analysis
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Rank #339 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
FFIV Stock Analysis & AI Quality Score
AI stock analysis and institutional research for F5, INC. (FFIV), a Technology sector company. 13F Pro's AI-powered ranking engine scores FFIV at 70.0/100 on a 32-signal composite quality model, placing it at rank #339 of 2,879 stocks — the top 25% of the AI-ranked universe. FFIV scores in the top quartile across balance sheet strength (87.6), free cash flow (87.1), profitability (85.3). Areas of concern include institutional flow (7.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 20.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), F5, INC. reports quarterly revenue of $811.7M, net income of $147.8M, an operating margin of 22.1%. Top institutional holders of FFIV by reported 13-F value include BlackRock,, HOTCHKIS & WILEY CAPITAL MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. FFIV trades on the Nasdaq exchange and files with the SEC under CIK 1048695. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FFIV daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for F5, INC. directly from SEC EDGAR. F5, INC.'s 13F Pro composite quality score has ranged between 8 and 75 since 2021, currently 70.0 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving FFIV's Business? Latest 10-Q Breakdown
✓ 35/35 datapoints verifiedAI-extracted from F5, INC.'s 10-Q filed 2026-05-05 — Q2 FY2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
F5 posted $811.7M in Q2 revenue (+11.0% YoY), driven by 26.2% growth in systems revenue and 16.7% growth in software revenue, with net income of $147.8M.
Biggest Revenue Drivers
Total revenue: $811.7M+11.0% YoY
Increase in net service revenues primarily from increased purchases of maintenance contracts.
Increase in product revenues due to increases in both systems and software revenues.
Within Products
Increase primarily due to increases in customer demand.
Increase primarily due to increases in subscription offerings.
Largest Expense Items
Increase in cost of product revenues primarily due to systems revenue growth; increase in cost of service revenues primarily due to increase in personnel costs.
Increase primarily due to increase of $18.9M in personnel costs.
Increase primarily due to increase in personnel costs ($7.9M), technology costs ($5.1M), and professional services ($2.0M driven by Cyber Incident response).
Increase primarily due to increase in personnel costs ($7.6M) and professional services ($5.5M driven by Cyber Incident response).
Margins: Gross margin expanded to 81.4% in Q2 from 80.7% YoY, reflecting the favorable mix of higher-margin product growth. Operating margin remained relatively stable at 22.1% versus 21.7% YoY, as operating expense growth was partially offset by improved gross profit.
Watch Items from the Filing
- Two distributor customers represent 16.1% and 15.3% of total Q2 revenue, with concentration in receivables at 14.7% and 16.7% respectively, creating significant customer concentration risk.
- Cyber Incident occurred October 15, 2025; Company incurred $23.5M in costs for six months ended March 31, 2026, with additional legal and settlement exposure from securities class action and derivative lawsuits filed in February 2026.
- Deferred revenue increased to $2.1B as of March 31, 2026 from $2.0B at September 30, 2025, with company expecting to recognize 59.9% over next 12 months, providing revenue visibility.
- Company repurchased $401.1M of shares (including excise taxes) in first half FY2026 against $522.4M remaining authorization; Days sales outstanding improved to 47 days in Q2.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q2 2026
$811.7M
Net Income
Q2 2026
$147.8M
Free Cash Flow
Q2 2026
$347.6M
Operating Margin
Q2 2026
22.1%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+9.7% YoYNet Income
+22.2% YoYOperating Income
+16.3% YoYEPS (Diluted)
+23.6% YoYTotal Assets
+12.6% YoYTotal Debt
Op. Cash Flow
+19.8% YoY| Metric | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | $3.09B +9.7% | $2.82B +4.5% | $2.70B +3.6% | $2.60B +10.7% | $2.35B +8.8% | $2.16B |
| Net Income | $692.4M +22.2% | $566.8M +75.9% | $322.2M -2.7% | $331.2M +7.7% | $307.4M -32.2% | $453.7M |
| Operating Income | $765.9M +16.3% | $658.6M +63.1% | $403.8M +2.5% | $394.0M +0.4% | $392.3M -33.6% | $590.9M |
| EPS (Diluted) | $11.80 +23.6% | $9.55 +81.2% | $5.27 -1.3% | $5.34 +6.6% | $5.01 -31.6% | $7.32 |
| Total Assets | $6.32B +12.6% | $5.61B +6.4% | $5.28B +5.6% | $5.00B +6.8% | $4.68B +79.5% | $2.61B |
| Total Debt | — | — | $349.8M -5.2% | $369.0M -5.0% | $388.3M | — |
| Operating Cash Flow | $949.7M +19.8% | $792.4M +79.0% | $442.6M -31.4% | $645.2M -2.4% | $660.9M -13.2% | $761.1M |
AI Insight: FFIV Financial Trends
F5 revenue growth stalled while operating income margins remain resilient, but net income volatility signals operational headwinds.
• Operating margin stable ~24–26% across most quarters; Q1 2026 at 22.0% reflects normalization after Q4 2025's 26.0% peak.
• Revenue grew 16.8% from Q2 2024 ($695M) to Q1 2026 ($812M), but decelerated sharply in latest two quarters; Q4 2025–Q1 2026 essentially flat.
• Operating cash flow surged to $366M in Q1 2026 vs. $159M in Q4 2025, suggesting working-capital tailwinds masked by declining profitability.
⚠ Net income fell 17.8% Q4 2025 ($180M) to Q1 2026 ($148M), lowest in eight quarters; margin pressure despite stable operating income.
⚠ Revenue growth slowed to 1.2% sequentially Q4 2025–Q1 2026 and -0.2% year-over-year; first YoY contraction in dataset.
AI Insight: FFIV Ratio Trends
F5 faces margin compression and return-on-asset deterioration in Q1 2026, snapping two quarters of stability.
• Operating margin fell to 22.1% in Q1 2026 from 26.0% in Q4 2025, a 390 bp decline—sharpest drop since Q1 2025.
• Net profit margin contracted to 18.2% in Q1 2026 from 21.9% in Q4 2025, indicating cost or tax headwinds.
• ROA slumped to 9.1% in Q1 2026 from 11.5% in Q4 2025, erasing gains built through Q2–Q3 2025.
⚠ Q1 2026 margin contraction mirrors Q1 2025 weakness (21.7% OpMargin)—assess whether seasonal or structural.
⚠ TTM operating margin of 24.7% masks deteriorating momentum; latest quarter sits 380 bp below Q4 2025.
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Top Institutional Holders of FFIV
BlackRock, Inc.
$1.8B6,234,427 shHOTCHKIS & WILEY CAPITAL MANAGEMENT LLC
$1.3B4,579,301 shVANGUARD CAPITAL MANAGEMENT LLC
$1.1B3,670,141 shSTATE STREET CORP
$861.9M2,979,029 shVANGUARD PORTFOLIO MANAGEMENT LLC
$860.9M2,975,594 shJericho Capital Asset Management L.P.
$764.7M2,643,013 shGEODE CAPITAL MANAGEMENT, LLC
$504.3M1,742,470 shFIRST TRUST ADVISORS LP
$427.3M1,476,987 shInvesco Ltd.
$418.0M1,444,819 shVICTORY CAPITAL MANAGEMENT INC
$295.6M1,021,541 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $1.8B | 6,234,427 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $1.3B | 4,579,301 |
| VANGUARD CAPITAL MANAGEMENT LLC | $1.1B | 3,670,141 |
| STATE STREET CORP | $861.9M | 2,979,029 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $860.9M | 2,975,594 |
| Jericho Capital Asset Management L.P. | $764.7M | 2,643,013 |
| GEODE CAPITAL MANAGEMENT, LLC | $504.3M | 1,742,470 |
| FIRST TRUST ADVISORS LP | $427.3M | 1,476,987 |
| Invesco Ltd. | $418.0M | 1,444,819 |
| VICTORY CAPITAL MANAGEMENT INC | $295.6M | 1,021,541 |
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Is FFIV a good stock to buy?
13F Pro's AI-powered analysis of F5, INC. (FFIV) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FFIV are available on the FFIV stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own FFIV?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FFIV. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of F5, INC.'s investment landscape.