F5, Inc. income statement
In fiscal 2025, F5, Inc. reported revenue of $3.09bn, up 9.7% on the year before, operating income of $766m (a 24.8% margin) and net income of $692m, or $11.80 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Sept 2009 | 2010Sept 2010 | 2011Sept 2011 | 2012Sept 2012 | 2013Sept 2013 | 2014Sept 2014 | 2015Sept 2015 | 2016Sept 2016 | 2017Sept 2017 | 2018Sept 2018 | 2019Sept 2019 | 2020Sept 2020 | 2021Sept 2021 | 2022Sept 2022 | 2023Sept 2023 | 2024Sept 2024 | 2025Sept 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 653 | 882 | 1,152 | 1,377 | 1,481 | 1,732 | 1,920 | 1,995 | 2,090 | 2,161 | 2,242 | 2,351 | 2,603 | 2,696 | 2,813 | 2,816 | 3,088 | 3,309 |
| Cost of revenue | 143 | 172 | 208 | 236 | 253 | 310 | 332 | 337 | 353 | 361 | 357 | 408 | 493 | 540 | 593 | 558 | 574 | 600 |
| Gross profit | 510 | 710 | 944 | 1,141 | 1,228 | 1,422 | 1,588 | 1,658 | 1,737 | 1,800 | 1,886 | 1,943 | 2,110 | 2,156 | 2,220 | 2,258 | 2,514 | 2,709 |
| Research and development | 104 | 118 | 139 | 177 | 210 | 264 | 297 | 334 | 350 | 366 | 408 | 441 | 513 | 543 | 540 | 490 | 540 | 593 |
| Selling and marketing | 225 | 293 | 371 | 446 | 483 | 558 | 603 | 629 | 652 | 664 | 749 | 843 | 930 | 927 | 878 | 832 | 861 | 918 |
| General and administrative | 55 | 69 | 84 | 92 | 102 | 106 | 136 | 138 | 157 | 160 | 211 | 258 | 274 | 275 | 263 | 269 | 322 | 372 |
| Operating income | 122 | 230 | 351 | 426 | 431 | 494 | 553 | 547 | 564 | 591 | 518 | 392 | 394 | 404 | 473 | 659 | 766 | 812 |
| Income before tax | 132 | 238 | 361 | 432 | 438 | 497 | 561 | 550 | 576 | 604 | 541 | 396 | 387 | 385 | 486 | 695 | 808 | 853 |
| Income tax | 40 | 86 | 119 | 157 | 161 | 186 | 196 | 184 | 155 | 150 | 113 | 89 | 56 | 63 | 91 | 129 | 116 | 127 |
| Net income | 92 | 151 | 241 | 275 | 277 | 311 | 365 | 366 | 421 | 454 | 428 | 307 | 331 | 322 | 395 | 567 | 692 | 727 |
| Diluted EPS | $1.14 | $1.86 | $2.96 | $3.45 | $3.50 | $4.09 | $5.03 | $5.38 | $6.50 | $7.32 | $7.08 | $5.01 | $5.34 | $5.27 | $6.55 | $9.55 | $11.80 | $12.56 |
| Diluted shares (average) | 80m | 81m | 81m | 80m | 79m | 76m | 73m | 68m | 65m | 62m | 60m | 61m | 62m | 61m | 60m | 59m | 59m | 58m |
| EBITDA | 148 | 254 | 372 | 461 | 471 | 540 | 605 | 604 | 625 | 650 | 587 | 488 | 509 | 519 | 585 | 766 | 858 | 910 |
| Quarter | 2024 Q4Sept 2024 | 2025 Q1Dec 2024 | 2025 Q2Mar 2025 | 2025 Q3Jun 2025 | 2025 Q4Sept 2025 | 2026 Q1Dec 2025 | 2026 Q2Mar 2026 | 2026 Q3Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 747 | 766 | 731 | 780 | 810 | 822 | 812 | 865 |
| Cost of revenue | 144 | 141 | 141 | 149 | 144 | 152 | 151 | 154 |
| Gross profit | 603 | 626 | 590 | 632 | 666 | 671 | 661 | 712 |
| Research and development | 124 | 131 | 137 | 136 | 136 | 141 | 151 | 165 |
| Selling and marketing | 217 | 206 | 218 | 220 | 216 | 225 | 239 | 238 |
| General and administrative | 71 | 73 | 77 | 79 | 94 | 91 | 92 | 96 |
| Operating income | 191 | 205 | 159 | 196 | 206 | 214 | 179 | 213 |
| Income before tax | 204 | 209 | 171 | 213 | 215 | 223 | 189 | 226 |
| Income tax | 38 | 43 | 26 | 23 | 25 | 43 | 41 | 18 |
| Net income | 165 | 166 | 146 | 190 | 190 | 180 | 148 | 208 |
| Diluted EPS | $2.80 | $2.82 | $2.48 | $3.25 | $3.26 | $3.10 | $2.58 | $3.62 |
| EBITDA | 214 | 228 | 181 | 219 | 230 | 239 | 204 | 237 |
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