FFIV Stock Analysis: F5 Networks | NASDAQ

Application Security, Application Delivery, Multicloud Networking, API Protection

Total Rating 75

Safety 83

Buy Signal 0.86

Software - Infrastructure
Industry Rotation: -5.4

Market Cap: 25.5B
Avg Turnover: 230M

Risk 3d forecast

Volatility35.4%

VaR 5^th Pctl5.78%

VaR vs Median-0.69%

Reward TTM

Sharpe Ratio1.30

Rel. Str. IBD92.5

Rel. Str. Peer Group85 pctl

Character TTM

Beta0.993

Beta Downside1.097

Hurst Exponent0.482

Choppyness38.4%

Drawdowns 3y

Max DD34.73%

CAGR/Max DD1.33

CAGR/Mean DD6.09

EPS (Earnings per Share)

EPS CAGR: 13.96%
EPS Trend: 98.4%

Last SUE: 4.00
Qual. Beats: 9

Revenue

Rev. CAGR: 6.73%
Rev. Trend: 94.9%

Last SUE: 1.59
Qual. Beats: 5

Warnings

No concerns identified

Tailwinds

Rs Leader

Idiosyncratic Leader

Seasonality 11.7 years of data

Jan +0.5% 19

Feb -0.3% 21

Mar -1.0% 5

Apr -2.6% 10

May +3.1% 31

Jun -0.1% 7

Jul +1.8% 20

Aug -2.1% 33

Sep +0.6% 11

Oct +2.2% 26

Nov +4.4% 29

Dec -0.7% 0

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: FFIV F5 Networks

F5, Inc. (NASDAQ: FFIV) is a Seattle-based provider of multicloud application security and delivery solutions, operating across the United States, EMEA, and Asia Pacific. The company sells to large enterprises, public sector institutions, governments, and service providers primarily through indirect channels such as distributors, value-added resellers, managed service providers, and systems integrators.

Its portfolio spans distributed cloud services and unified security, networking, and application management offerings-including web app and API protection, multi-cloud networking, application delivery and deployment, DNS, content delivery, and deployment orchestration. Flagship products include the BIG-IP family of hardware and packaged software, the NGINX application delivery suite (NGINX Plus, NGINX One Console, NGINX Ingress Controller, and WAF for NGINX), and a range of professional services covering maintenance, consulting, training, and technical support. The company maintains partnerships with major hyperscale cloud providers, including Amazon Web Services, Microsoft Azure, and Google Cloud Platform.

F5 was incorporated in 1996 under the name F5 Networks, Inc. and rebranded to F5, Inc. in November 2021. The business model reflects a transition common across the communications equipment sub-industry, moving from traditional hardware-based application delivery controllers toward software- and subscription-based cloud services, a shift that has placed it in competition with vendors such as Citrix and A10 Networks in the application delivery and security space.

Headlines to Watch Out For

Software subscription revenue mix expands recurring margins
Enterprise security spending accelerates amid multicloud adoption
Competition from hyperscaler-native networking pressures BIG-IP legacy sales

Piotroski VR-10 (Strict) 6.0

Net Income: 726.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.14 > 0.02 and ΔFCF/TA -1.42 > 1.0
NWC/Revenue: 35.56% < 20% (prev 29.71%; Δ 5.85% < -1%)
CFO/TA 0.15 > 3% & CFO 1.05b > Net Income 726.5m
Net Debt (-1.35b) to EBITDA (943.5m): -1.43 < 3
Current Ratio: 1.66 > 1.5 & < 3
Outstanding Shares: last quarter (57.7m) vs 12m ago -1.40% < -2%
Gross Margin: 82.21% > 18% (prev 81.03%; Δ 1.18% > 0.5%)
Asset Turnover: 51.14% > 50% (prev 49.48%; Δ 1.66% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)

Altman Z'' 5.20

A: 0.17 (Total Current Assets 2.95b - Total Current Liabilities 1.77b) / Total Assets 6.83b
B: 0.56 (Retained Earnings 3.82b / Total Assets 6.83b)
C: 0.13 (EBIT TTM 846.1m / Avg Total Assets 6.47b)
D: 1.30 (Book Value of Equity 3.86b / Total Liabilities 2.97b)
Altman-Z'' = 5.20 = AAA

Beneish M -2.91

DSRI: 1.13 (Receivables 1.01b/820.0m, Revenue 3.31b/3.02b)
GMI: 0.99 (GM 81.03% / 82.21%)
AQI: 0.94 (AQ_t 0.51 / AQ_t-1 0.54)
SGI: 1.09 (Revenue 3.31b / 3.02b)
TATA: -0.05 (NI 726.5m - CFO 1.05b) / TA 6.83b)
Beneish M = -2.91 (Cap -4..+1) = A

What is the price of FFIV shares?

As of October 21, 2026, the stock is trading at USD 456.71 with a total of 447,554 shares traded. Over the past week, the price has changed by -4.10%, over one month by +1.47%, over three months by +10.87% and over the past year by +54.03%.

Current recommended Stop Loss: 438.70 (which is 3.9% or 1.2 ATR below the current price).

Is FFIV a buy, sell or hold?

F5 Networks has received a consensus analysts rating of 3.38. Therefore, it is recommended to hold FFIV.

StrongBuy: 2
Buy: 3
Hold: 6
Sell: 2
StrongSell: 0

What are the forecasts/targets for the FFIV price?

Analysts Target Price	437.8	-4.1%

F5 Networks (FFIV) - Fundamental Data Overview as of 21 October 2026

Market Cap USD = 25.5b (25.5b USD * 1.0 USD.USD)
P/E Trailing = 35.9203
P/E Forward = 24.6305
P/S = 7.7138
P/B = 6.6969
P/EG = 1.6292
Revenue TTM = 3.31b USD
EBIT TTM = 846.1m USD
EBITDA TTM = 943.5m USD
Long Term Debt = 218.7m USD (estimated: total debt 252.4m - short term 33.7m)
Short Term Debt = 33.7m USD (from shortTermDebt, last quarter)
Debt = 252.4m USD (from shortLongTermDebtTotal, last quarter) (leases 252.4m already included)
Net Debt = -1.35b USD (calculated: Debt 252.4m - CCE 1.61b)
Enterprise Value = 24.2b USD (25.5b + Debt 252.4m - CCE 1.61b)
Interest Coverage Ratio = unknown (Ebit TTM 846.1m / Interest Expense TTM 0.0)
EV/FCF = 24.93x (Enterprise Value 24.2b / FCF TTM 969.6m)
FCF Yield = 4.01% (FCF TTM 969.6m / Enterprise Value 24.2b)
FCF Margin = 29.30% (FCF TTM 969.6m / Revenue TTM 3.31b)
Net Margin = 21.95% (Net Income TTM 726.5m / Revenue TTM 3.31b)
Gross Margin = 82.21% ((Revenue TTM 3.31b - Cost of Revenue TTM 588.7m) / Revenue TTM)
Gross Margin QoQ = 82.25% (prev 82.82%)
Tobins Q-Ratio = 3.54 (Enterprise Value 24.2b / Total Assets 6.83b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 252.4m)
Taxrate = 14.87% (126.9m / 853.4m)
NOPAT = 720.3m (EBIT 846.1m * (1 - 14.87%))
Current Ratio = 1.66 (Total Current Assets 2.95b / Total Current Liabilities 1.77b)
Debt / Equity = 0.07 (Debt 252.4m / totalStockholderEquity, last quarter 3.86b)
Debt / EBITDA = -1.43 (Net Debt -1.35b / EBITDA 943.5m)
Debt / FCF = -1.40 (Net Debt -1.35b / FCF TTM 969.6m)
Total Stockholder Equity = 3.66b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.23% (Net Income 726.5m / Total Assets 6.83b)
RoE = 19.86% (Net Income TTM 726.5m / Total Stockholder Equity 3.66b)
RoCE = 21.82% (EBIT 846.1m / Capital Employed (Equity 3.66b + L.T.Debt 218.7m))
RoIC = 14.62% (NOPAT 720.3m / Invested Capital 4.93b)
WACC = 8.89% (E(25.5b)/V(25.8b) * Re(8.98%) + D(252.4m)/V(25.8b) * Rd(0.0%) * (1-Tc(0.15)))
Discount Rate = 8.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -95.58 | Cagr: -1.43%
[DCF] Terminal Value 73.77% ; FCFF base≈963.7m ; Y1≈980.1m ; Y5≈1.06b
[DCF] Fair Price = 290.9 (EV 15.1b - Net Debt -1.35b = Equity 16.5b / Shares 56.6m; r=8.89% [WACC]; 5y FCF grow 1.54% → 2.50% )
EPS Correlation: 98.42 | EPS CAGR: 13.96% | SUE: 4.0 | # QB: 9
Revenue Correlation: 94.87 | Revenue CAGR: 6.73% | SUE: 1.59 | # QB: 5
EPS current Quarter (2026-12-31): EPS=4.36 | Chg30d=+0.00% | Revisions=+13% | Analysts=12
EPS current Year (2026-09-30): EPS=17.33 | Chg30d=+0.00% | Revisions=+80% | GrowthEPS=+9.6% | GrowthRev=+9.6%
EPS next Year (2027-09-30): EPS=18.08 | Chg30d=+0.00% | Revisions=+53% | GrowthEPS=+4.3% | GrowthRev=+7.6%
[Analyst] Revisions Ratio: +56% (up=29, down=7)