F5, Inc. (USD). For the year ended 30 September 2025, revenue was 3.09B, +9.7 % on the previous year, net income was 692M.
Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 30/09/2025 | 30/09/2024 |
|---|---|---|
| Revenue | 3.09B | 2.82B |
| Cost of revenue | 574M | 558M |
| Gross profit | 2.51B | 2.26B |
The series is stated in the current share scale after splits; dividends are not included in the price
F5 distributes load between servers and protects applications from attack — the node all the traffic passes through.
The classic product is an appliance sitting in front of the servers, deciding which one gets a request and filtering out malicious traffic along the way. It is embedded in the most sensitive point of the infrastructure of banks, carriers and government systems, and replacing it is an operation that risks an outage.
The move to cloud erodes that position: there the job is done by the platform's own tooling. The company answers by moving functions into software and subscriptions, but growth is slow. Stability comes from service income on the installed base. Risks: a shrinking appliance market and competition from cloud services. The company pays no dividend, directing cash into buybacks.
| Research and development |
| 540M |
| 490M |
| Selling, general and administrative | 322M | 269M |
| Operating expenses | 1.75B | 1.60B |
| Operating income | 766M | 659M |
| Pre-tax income | 808M | 695M |
| Income tax | 116M | 129M |
| Net income | 692M | 567M |
| Earnings per share | 11.96 | 9.65 |
| Earnings per share, diluted | 11.80 | 9.55 |
| Weighted average shares | 58M | 59M |
| Weighted average shares, diluted | 59M | 59M |
| Metric | 30/06/2026 | 31/03/2026 | 31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | 30/09/2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 1.61B | 1.44B | 1.20B | 1.34B | 1.43B | 1.26B | 1.15B | 1.08B |
| Short-term investments | — | — | — | — | — | — | — | 0 |
| Receivables | 429M | 426M | 494M | 414M | 360M | 380M | 485M | 389M |
| Inventory | 127M | 90M | 80M | 77M | 67M | 68M | 73M | 76M |
| Current assets | 2.95B | 2.70B | 2.52B | 2.52B | 2.49B | 2.34B | 2.34B | 2.11B |
| Property, plant and equipment | 197M | 175M | 157M | 157M | 152M | 149M | 150M | 151M |
| Goodwill | 2.48B | 2.44B | 2.44B | 2.44B | 2.32B | 2.32B | 2.31B | 2.31B |
| Total assets | 6.83B | 6.50B | 6.29B | 6.32B | 6.11B | 5.91B | 5.90B | 5.61B |
| Current liabilities | 1.77B | 1.68B | 1.62B | 1.61B | 1.55B | 1.52B | 1.59B | 1.49B |
| Equity | 3.86B | 3.65B | 3.54B | 3.59B | 3.47B | 3.31B | 3.24B | 3.13B |
| Shares outstanding | 57M | 57M | 57M | 58M | 58M | 58M | 58M | 58M |
| Shares issued | 57M | 57M | 57M | 58M | 58M | 58M | 58M | 58M |
| Metric | 30/09/2025 | 30/09/2024 |
|---|---|---|
| Operating cash flow | 950M | 792M |
| Depreciation and amortisation | 92M | 107M |
| Share-based compensation | 231M | 219M |
| Capital expenditure | 43M | 30M |
| Investing cash flow | −219M | −59M |
| Share buybacks | 502M | 501M |
| Financing cash flow | −465M | −457M |
A company's accounts come as three tables, and each answers its own question. The income statement shows what the company earned over a period: revenue at the top, costs below it and net income at the bottom, which is what is left for shareholders after tax. When revenue grows and net income does not, costs are growing faster, so it is worth finding out which line has moved.
The balance sheet is a snapshot on a single date: what the company owns and what it owes. Assets equal liabilities plus shareholders' equity. Debt is best judged against cash and earnings rather than on its own, because the same amount can be unremarkable for a large company and dangerous for a small one. Note that a balance sheet is published every quarter, so its date is often more recent than the date of the annual income statement.
The cash flow statement shows how much money actually came in. Net income is an accounting figure, while operating cash flow is what the business really collected. A healthy company usually brings in at least as much in cash as it reports on paper. Out of that flow it pays for equipment, pays dividends and buys back its own shares.
Every column carries the date its period ended, because companies close their financial years in different months. A dash means the company did not report that line, not that it equals zero: a bank, for example, has no cost of revenue. Annual figures give the overall picture, and quarterly ones reveal a turning point sooner, although they are more seasonal, so compare a quarter with the same quarter of the previous year.
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator