F5, Inc. (FFIV) Stock

F5, Inc. (FFIV) is a Technology stock trading at $421.54 (as of 2026-07-15), with a market capitalization of $23.78B and a trailing P/E of 33.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

F5, Inc. offers application security and delivery products across multi-cloud environments, including hardware and software platforms for traffic management, DNS, firewall and policy enforcement, application security, and DDoS and fraud prevention. It also provides related support services such as consulting, training, installation, and maintenance for enterprises managing network applications, servers, and storage.

Understand F5, Inc.: how it makes money

F5, Inc. provides multi-cloud application security and delivery solutions, including BIG-IP appliances and software (including Virtual Editions), and it also sells global services so customers can develop, deploy, operate, secure, and govern network applications across on-premises and public cloud environments. It makes money through product revenue and global services revenue, including recurring and subscription-based software revenue.

F5s profit engine is the combination of security and delivery software sold through product revenue (including recurring, subscription-based software) supported by global services revenue tied to customers operating and governing applications across multi-cloud environments.

Revenue by segment (latest quarter)
Product	$0.4B
Global Svcs	$0.4B

Business quality (Solid): Good coverage on business model mix (product vs global services) and key operating indicators (recurring revenue and distributed cloud customer counts), but limited detail is provided on renewals, pricing, or customer retention mechanics.

Valuation: At 32× earnings, FFIV trades in line with the Tech Hardware average (32×). Note: one-time items can distort reported P/E.

Bull case

Software-led, recurring revenue: The company tracks Recurring Revenue (USD_B 0.81) and also reports subscription-based software revenue (USD_B 0.17), which indicates a recurring component in how its software security and delivery offerings monetize over time.
Distributed cloud customer traction indicators: F5 reports 1,000 Distributed Cloud Customers and 800 F5 Distributed Cloud Services Customers, suggesting meaningful customer usage of its distributed cloud services platform.

Bear case

Mix-driven performance risk: Revenue is split between Product Revenue (USD_B 0.41) and Global Services Revenue (USD_B 0.41). Weakness in either product or services demand or execution could pressure overall results.
Faster collections are not evidenced: Days Sales Outstanding is 47 (count). If collections lengthen versus expectations, that can increase working capital pressure, even if reported sales remain stable.

Valuation — source: SEC EDGAR (first-party)
Price	$421.54
Market Cap	$23.78B
P/E Ratio	33.6
EV / EBITDA	24.4
Price / Book	6.52
Price / Sales	7.38
FCF Yield	4.7%
DCF Value (model)	$188.70
DCF Upside vs Price	-55.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.09B
Net Margin	22.4%
Revenue Growth (YoY)	11.0%
EPS Growth (YoY)	4.0%
FCF Growth (YoY)	102.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	7.24 (safe)

Valuation vs Sector & Industry
Stock P/E	33.6
Sector P/E (Technology)	34.5
Industry P/E (Computers)	31.6
vs Sector	-2.7%
vs Industry	6.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($1.88B)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Technology
Industry	Computers
CEO	Francois Locoh-Donou
Employees	6,114
Country	US
IPO Date	1999-06-04

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Data as of 2026-07-15.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.