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Networking·FFIV

F5, Inc.

NASDAQ · US

Application delivery, load balancing, traffic management, and application security platform supplier.

AI relevance

Data center traffic management and application delivery layer for high-scale AI services and enterprise AI applications.

Networking Security / ADC

Price

$385.49

Change

+0.61 (+0.16%)

Market cap

$21.7B

52w range

$224–$412

Exchange

NASDAQ

Country

Jason's Chips

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Price chart

FFIV market performance

Daily close for F5, Inc.

Latest close: $385.5
Range move: +$99.01 (+34.6%)
Range high: $409.1
Range low: $224.0
Latest volume: 1.7M
Source: FMP EOD

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Exports

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CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

71 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetHold

Analyst expectations

Consensus target

$378.00

-1.9%

Target range

$292.00 - $475.00

Rating mix

Hold

61 ratings

Next FY revenue

$3.33B

2026-09-30

Next FY EPS

$16.49

$16.43 - $16.56

Rating consensus61 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$3.33B	$3.32B - $3.36B	$16.49	$16.43 - $16.56	$1.33B	$1.28B	$967.8M	$1.39B	10 rev / 8 EPS
2027-09-30	$3.53B	$3.41B - $3.65B	$17.65	$16.99 - $18.18	$1.42B	$1.35B	$1.03B	$1.48B	10 rev / 8 EPS
2028-09-30	$3.76B	$3.75B - $3.77B	$19.49	$17.61 - $21.37	$1.51B	$1.44B	$1.14B	$1.57B	8 rev / 2 EPS
2029-09-30	$3.99B	$3.90B - $4.08B	$21.61	$21.00 - $22.24	$1.60B	$1.53B	$1.27B	$1.66B	4 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-30	$834.6M	$831.4M - $840.8M	$4.00	$3.97 - $4.05	$334.3M	$320.0M	$229.2M	$348.5M	8 rev / 9 EPS
2026-09-30	$856.9M	$848.5M - $861.2M	$4.14	$4.09 - $4.17	$343.3M	$328.6M	$237.3M	$357.8M	8 rev / 9 EPS
2026-12-31	$856.3M	$843.1M - $869.9M	$4.33	$4.25 - $4.42	$343.0M	$328.4M	$248.3M	$357.5M	7 rev / 7 EPS
2027-03-31	$856.4M	$843.2M - $870.0M	$4.12	$4.04 - $4.20	$343.1M	$328.4M	$236.0M	$357.6M	4 rev / 3 EPS
2027-06-30	$880.9M	$867.3M - $894.9M	$4.38	$4.29 - $4.47	$352.9M	$337.8M	$251.1M	$367.8M	6 rev / 3 EPS
2027-09-30	$919.7M	$905.5M - $934.3M	$4.79	$4.69 - $4.89	$368.5M	$352.7M	$274.3M	$384.0M	4 rev / 4 EPS
2027-12-31	$911.0M	$896.9M - $925.5M	$4.69	$4.60 - $4.79	$365.0M	$349.3M	$269.0M	$380.4M	7 rev / 3 EPS
2028-03-31	$886.5M	$872.8M - $900.5M	$4.28	$4.19 - $4.36	$355.1M	$339.9M	$245.0M	$370.1M	3 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	1	$450.00
Last quarter	3	$405.67
Last year	9	$348.00
All time	44	$241.42

Sources: StreetInsider, TheFly, Benzinga, Pulse 2.0, TipRanks Contributor

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-09	RBC Capital	Maintain	Outperform	Outperform
2026-05-29	Piper Sandler	Maintain	Overweight	Overweight
2026-05-29	Barclays	Maintain	Equal Weight	Equal Weight
2026-05-29	RBC Capital	Maintain	Outperform	Outperform
2026-05-26	B of A Securities	Maintain	Underperform	Underperform
2026-05-20	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-05-19	RBC Capital	Maintain	Outperform	Outperform
2026-05-18	Evercore ISI Group	Upgrade	In Line	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-06-01	3	2	7	1
2026-05-01	4	2	8	1
2026-04-01	4	1	8	1
2026-03-01	3	1	10	1
2026-02-01	3	1	10	1
2026-01-01	4	1	10	1
2025-12-01	1	1	10	1
2025-11-01	1	1	11	1

FinancialsFY 2025

Financials

Revenue

$3.09B

Gross margin

81.4%

Operating income

$765.9M

Free cash flow

$906.4M

Cash + ST investments

$1.34B

Net debt

-$851.7M

ROE

19.3%

ROIC

13.8%

EV / sales

5.8x

EV / EBITDA

20.2x

R&D / revenue

17.5%

Current ratio

1.5x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$3.09B	$2.51B	81.4%	$539.8M	$765.9M	$883.8M	$692.4M	$11.96
FY 2024	$2.82B	$2.26B	80.2%	$490.1M	$658.6M	$774.2M	$566.8M	$9.65
FY 2023	$2.81B	$2.22B	78.9%	$540.3M	$472.6M	$650.7M	$394.9M	$6.59
FY 2022	$2.70B	$2.16B	80.0%	$543.4M	$403.8M	$527.3M	$322.2M	$5.34
FY 2021	$2.60B	$2.11B	81.1%	$512.6M	$394.0M	$502.4M	$331.2M	$5.46
FY 2020	$2.35B	$1.94B	82.6%	$441.3M	$392.3M	$495.9M	$307.4M	$5.05
FY 2019	$2.24B	$1.89B	84.1%	$408.1M	$518.5M	$587.0M	$427.7M	$7.12
FY 2018	$2.16B	$1.80B	83.3%	$366.1M	$609.3M	$668.8M	$453.7M	$7.41
FY 2017	$2.09B	$1.74B	83.1%	$350.4M	$564.0M	$638.2M	$420.8M	$6.56
FY 2016	$2.00B	$1.66B	83.1%	$334.2M	$547.4M	$613.2M	$365.9M	$5.43
FY 2015	$1.92B	$1.59B	82.7%	$296.6M	$552.9M	$605.5M	$365.0M	$5.07
FY 2014	$1.73B	$1.42B	82.1%	$263.8M	$493.6M	$539.7M	$311.2M	$4.13

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$949.7M	$43.3M	$906.4M
FY 2024	$792.4M	$30.4M	$762.0M
FY 2023	$653.4M	$54.2M	$599.2M
FY 2022	$442.6M	$33.6M	$409.0M
FY 2021	$645.2M	$30.7M	$614.5M
FY 2020	$660.9M	$59.9M	$601.0M
FY 2019	$747.8M	$103.5M	$644.3M
FY 2018	$761.1M	$53.5M	$707.6M
FY 2017	$740.3M	$38.7M	$697.6M
FY 2016	$711.5M	$63.5M	$643.3M
FY 2015	$684.5M	$60.3M	$617.5M
FY 2014	$549.0M	$22.7M	$526.3M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$1.34B	$912.7M	$77.2M	$342.5M	$6.32B	$492.5M	-$851.7M	$2.73B	$3.59B
FY 2024	$1.07B	$790.1M	$76.4M	$329.1M	$5.61B	$465.3M	-$609.3M	$2.48B	$3.13B
FY 2023	$803.3M	$828.9M	$72.1M	$365.9M	$5.25B	$520.6M	-$276.6M	$2.45B	$2.80B
FY 2022	$884.6M	$789.7M	$125.4M	$395.7M	$5.28B	$937.0M	$179.0M	$2.81B	$2.47B
FY 2021	$910.6M	$555.9M	$22.1M	$436.1M	$5.00B	$1.01B	$431.2M	$2.64B	$2.36B
FY 2020	$1.21B	$434.3M	$27.9M	$529.9M	$4.68B	$1.11B	$262.2M	$2.45B	$2.23B
FY 2019	$972.3M	$401.4M	$34.4M	$223.4M	$3.39B	$0	-$599.2M	$1.63B	$1.76B
FY 2018	$1.04B	$295.4M	$30.6M	$145.0M	$2.61B	$0	-$424.7M	$1.32B	$1.29B
FY 2017	$1.02B	$291.9M	$29.8M	$122.4M	$2.48B	$0	-$673.2M	$1.25B	$1.23B
FY 2016	$882.4M	$268.2M	$34.1M	$123.2M	$2.31B	$0	-$514.6M	$1.12B	$1.19B
FY 2015	$774.3M	$279.4M	$33.7M	$95.9M	$2.31B	$0	-$390.5M	$995.6M	$1.32B
FY 2014	$645.4M	$242.2M	$24.5M	$66.8M	$2.18B	$0	-$281.5M	$815.6M	$1.37B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	81.4%	24.8%	22.4%	1.5x	1.5x	19.3%	13.8%	5.8x	20.2x	4.8%	17.5%	104d
FY 2024	80.2%	23.4%	20.1%	1.4x	1.3x	18.1%	12.9%	4.4x	15.9x	5.9%	17.4%	108d
FY 2023	78.9%	16.8%	14.0%	1.2x	1.2x	14.1%	10.1%	3.3x	14.4x	6.2%	19.2%	113d
FY 2022	80.0%	15.0%	12.0%	1.0x	1.0x	13.0%	8.8%	3.3x	16.9x	4.7%	20.2%	115d
FY 2021	81.1%	15.1%	12.7%	1.1x	1.1x	14.0%	9.2%	4.8x	24.9x	5.1%	19.7%	48d
FY 2020	82.6%	16.7%	13.1%	1.4x	1.3x	13.8%	8.8%	3.3x	15.6x	8.0%	18.8%	35d
FY 2019	84.1%	23.1%	19.1%	1.4x	1.3x	24.3%	17.9%	3.5x	13.3x	7.6%	18.2%	36d
FY 2018	83.3%	28.2%	21.0%	1.5x	1.5x	35.3%	27.7%	5.2x	16.8x	6.1%	16.9%	22d
FY 2017	83.1%	27.0%	20.1%	1.5x	1.5x	34.2%	26.7%	3.4x	11.1x	9.0%	16.8%	29d
FY 2016	83.1%	27.4%	18.3%	1.5x	1.5x	30.9%	24.9%	4.0x	12.9x	7.7%	16.8%	49d
FY 2015	82.7%	28.8%	19.0%	1.6x	1.5x	27.7%	23.1%	4.1x	13.1x	7.4%	15.4%	34d
FY 2014	82.1%	28.5%	18.0%	1.6x	1.5x	22.7%	19.9%	5.0x	16.1x	5.9%	15.2%	28d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+9.7%	+11.3%	+10.1%	+16.3%	+22.2%	+23.9%	+18.9%	-42.2%	+25.1%	+1.1%	+12.6%	+5.8%
FY 2024	+0.1%	+1.7%	-9.3%	+39.4%	+43.5%	+46.4%	+27.2%	+43.9%	+33.8%	+6.0%	+6.9%	-10.6%
FY 2023	+4.4%	+3.0%	-0.6%	+17.0%	+22.6%	+23.4%	+46.5%	-61.1%	-9.2%	-42.5%	-0.5%	-44.4%
FY 2022	+3.6%	+2.2%	+6.0%	+2.5%	-2.7%	-2.2%	-33.4%	-9.7%	-2.9%	+468.4%	+5.6%	-7.4%
FY 2021	+10.7%	+8.6%	+16.2%	+0.4%	+7.7%	+8.1%	+2.3%	+48.9%	-24.7%	-20.9%	+6.8%	-9.0%
FY 2020	+4.8%	+3.0%	+8.2%	-24.3%	-28.1%	-29.1%	-6.7%	+42.1%	+24.4%	-18.9%	+38.0%	0.0%
FY 2019	+3.7%	+4.8%	+11.5%	-14.9%	-5.7%	-3.9%	-8.9%	-93.7%	-6.5%	+12.5%	+30.1%	0.0%
FY 2018	+3.4%	+3.6%	+4.5%	+8.0%	+7.8%	+13.0%	+1.4%	-38.2%	+2.2%	+2.5%	+5.2%	0.0%
FY 2017	+4.8%	+4.7%	+4.8%	+3.0%	+15.0%	+20.8%	+8.4%	+43.3%	+15.2%	-12.4%	+7.4%	0.0%
FY 2016	+3.9%	+4.4%	+12.7%	-1.0%	+0.2%	+7.1%	+4.2%	-1.7%	+14.0%	+1.0%	-0.3%	0.0%
FY 2015	+10.8%	+11.6%	+12.4%	+12.0%	+17.3%	+22.8%	+17.3%	-195.3%	+20.0%	+37.8%	+5.8%	0.0%
FY 2014	+16.9%	+15.8%	+25.8%	+14.6%	+12.2%	+17.0%	+11.2%	+14.5%	+19.0%	+28.6%	-2.0%	0.0%

SegmentsFY 2025

Revenue Mix

Period	Total	Service	Product
FY 2025	$3.09B	$1.58B	$1.51B
FY 2024	$2.82B	$1.54B	$1.27B
FY 2023	$2.81B	$1.48B	$1.33B
FY 2022	$2.70B	$1.38B	$1.32B
FY 2021	$2.60B	$1.36B	$1.25B
FY 2020	$2.35B	$1.32B	$1.03B
FY 2019	$2.24B	$1.26B	$985.6M

Period	Total	Americas	EMEA	Asia Pacific	JAPAN
FY 2025	$3.09B	$1.72B	$827.2M	$536.8M	--
FY 2024	$2.82B	$1.58B	$755.9M	$478.9M	--
FY 2023	$2.81B	$1.58B	$741.6M	$487.2M	--
FY 2022	$2.70B	$1.57B	$634.8M	$488.2M	--
FY 2021	$2.60B	$1.46B	$667.2M	$478.5M	--
FY 2020	$2.35B	$1.32B	$593.3M	$440.4M	--
FY 2019	$2.24B	$1.25B	$553.7M	$443.1M	--
FY 2018	$2.16B	$1.20B	$546.2M	$315.6M	$95.3M
FY 2017	$2.09B	$1.19B	$506.6M	$302.9M	$95.1M
FY 2016	$2.00B	$1.13B	$488.0M	$287.0M	$94.8M
FY 2015	$1.92B	$1.10B	$464.1M	$267.9M	$88.3M
FY 2014	$1.73B	$985.8M	$404.3M	$251.8M	$90.1M

Transcripts

Events

Next earnings

2026-07-29EPS est $3.98

Recent filings

42026-06-12
42026-06-03
SD2026-06-01

Latest news

F5 and Equinix Deliver Secure, Governed AI Across Hybrid and Multicloud Distributed Environments
Business Wire · 2026-06-17
F5 Expands AI-powered WAAP Solutions to Arm Enterprises Against Frontier AI Threats and Stop Attacks Before Exploitation
GuruFocus · 2026-06-09

Analyst expectations

Consensus target

$378.00

-1.9%

Target range

$292.00 - $475.00

Rating mix

Hold

61 ratings

Next FY revenue

$3.33B

2026-09-30

Next FY EPS

$16.49

$16.43 - $16.56

Rating consensus61 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$3.33B	$3.32B - $3.36B	$16.49	$16.43 - $16.56	$1.33B	$1.28B	$967.8M	$1.39B	10 rev / 8 EPS
2027-09-30	$3.53B	$3.41B - $3.65B	$17.65	$16.99 - $18.18	$1.42B	$1.35B	$1.03B	$1.48B	10 rev / 8 EPS
2028-09-30	$3.76B	$3.75B - $3.77B	$19.49	$17.61 - $21.37	$1.51B	$1.44B	$1.14B	$1.57B	8 rev / 2 EPS
2029-09-30	$3.99B	$3.90B - $4.08B	$21.61	$21.00 - $22.24	$1.60B	$1.53B	$1.27B	$1.66B	4 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-30	$834.6M	$831.4M - $840.8M	$4.00	$3.97 - $4.05	$334.3M	$320.0M	$229.2M	$348.5M	8 rev / 9 EPS
2026-09-30	$856.9M	$848.5M - $861.2M	$4.14	$4.09 - $4.17	$343.3M	$328.6M	$237.3M	$357.8M	8 rev / 9 EPS
2026-12-31	$856.3M	$843.1M - $869.9M	$4.33	$4.25 - $4.42	$343.0M	$328.4M	$248.3M	$357.5M	7 rev / 7 EPS
2027-03-31	$856.4M	$843.2M - $870.0M	$4.12	$4.04 - $4.20	$343.1M	$328.4M	$236.0M	$357.6M	4 rev / 3 EPS
2027-06-30	$880.9M	$867.3M - $894.9M	$4.38	$4.29 - $4.47	$352.9M	$337.8M	$251.1M	$367.8M	6 rev / 3 EPS
2027-09-30	$919.7M	$905.5M - $934.3M	$4.79	$4.69 - $4.89	$368.5M	$352.7M	$274.3M	$384.0M	4 rev / 4 EPS
2027-12-31	$911.0M	$896.9M - $925.5M	$4.69	$4.60 - $4.79	$365.0M	$349.3M	$269.0M	$380.4M	7 rev / 3 EPS
2028-03-31	$886.5M	$872.8M - $900.5M	$4.28	$4.19 - $4.36	$355.1M	$339.9M	$245.0M	$370.1M	3 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	1	$450.00
Last quarter	3	$405.67
Last year	9	$348.00
All time	44	$241.42

Sources: StreetInsider, TheFly, Benzinga, Pulse 2.0, TipRanks Contributor

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-09	RBC Capital	Maintain	Outperform	Outperform
2026-05-29	Piper Sandler	Maintain	Overweight	Overweight
2026-05-29	Barclays	Maintain	Equal Weight	Equal Weight
2026-05-29	RBC Capital	Maintain	Outperform	Outperform
2026-05-26	B of A Securities	Maintain	Underperform	Underperform
2026-05-20	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-05-19	RBC Capital	Maintain	Outperform	Outperform
2026-05-18	Evercore ISI Group	Upgrade	In Line	Outperform

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-06-01	3	2	7	1
2026-05-01	4	2	8	1
2026-04-01	4	1	8	1
2026-03-01	3	1	10	1
2026-02-01	3	1	10	1
2026-01-01	4	1	10	1
2025-12-01	1	1	10	1
2025-11-01	1	1	11	1

Financials

Revenue

$3.09B

Gross margin

81.4%

Operating income

$765.9M

Free cash flow

$906.4M

Cash + ST investments

$1.34B

Net debt

-$851.7M

ROE

19.3%

ROIC

13.8%

EV / sales

5.8x

EV / EBITDA

20.2x

R&D / revenue

17.5%

Current ratio

1.5x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$3.09B	$2.51B	81.4%	$539.8M	$765.9M	$883.8M	$692.4M	$11.96
FY 2024	$2.82B	$2.26B	80.2%	$490.1M	$658.6M	$774.2M	$566.8M	$9.65
FY 2023	$2.81B	$2.22B	78.9%	$540.3M	$472.6M	$650.7M	$394.9M	$6.59
FY 2022	$2.70B	$2.16B	80.0%	$543.4M	$403.8M	$527.3M	$322.2M	$5.34
FY 2021	$2.60B	$2.11B	81.1%	$512.6M	$394.0M	$502.4M	$331.2M	$5.46
FY 2020	$2.35B	$1.94B	82.6%	$441.3M	$392.3M	$495.9M	$307.4M	$5.05
FY 2019	$2.24B	$1.89B	84.1%	$408.1M	$518.5M	$587.0M	$427.7M	$7.12
FY 2018	$2.16B	$1.80B	83.3%	$366.1M	$609.3M	$668.8M	$453.7M	$7.41
FY 2017	$2.09B	$1.74B	83.1%	$350.4M	$564.0M	$638.2M	$420.8M	$6.56
FY 2016	$2.00B	$1.66B	83.1%	$334.2M	$547.4M	$613.2M	$365.9M	$5.43
FY 2015	$1.92B	$1.59B	82.7%	$296.6M	$552.9M	$605.5M	$365.0M	$5.07
FY 2014	$1.73B	$1.42B	82.1%	$263.8M	$493.6M	$539.7M	$311.2M	$4.13

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$949.7M	$43.3M	$906.4M
FY 2024	$792.4M	$30.4M	$762.0M
FY 2023	$653.4M	$54.2M	$599.2M
FY 2022	$442.6M	$33.6M	$409.0M
FY 2021	$645.2M	$30.7M	$614.5M
FY 2020	$660.9M	$59.9M	$601.0M
FY 2019	$747.8M	$103.5M	$644.3M
FY 2018	$761.1M	$53.5M	$707.6M
FY 2017	$740.3M	$38.7M	$697.6M
FY 2016	$711.5M	$63.5M	$643.3M
FY 2015	$684.5M	$60.3M	$617.5M
FY 2014	$549.0M	$22.7M	$526.3M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$1.34B	$912.7M	$77.2M	$342.5M	$6.32B	$492.5M	-$851.7M	$2.73B	$3.59B
FY 2024	$1.07B	$790.1M	$76.4M	$329.1M	$5.61B	$465.3M	-$609.3M	$2.48B	$3.13B
FY 2023	$803.3M	$828.9M	$72.1M	$365.9M	$5.25B	$520.6M	-$276.6M	$2.45B	$2.80B
FY 2022	$884.6M	$789.7M	$125.4M	$395.7M	$5.28B	$937.0M	$179.0M	$2.81B	$2.47B
FY 2021	$910.6M	$555.9M	$22.1M	$436.1M	$5.00B	$1.01B	$431.2M	$2.64B	$2.36B
FY 2020	$1.21B	$434.3M	$27.9M	$529.9M	$4.68B	$1.11B	$262.2M	$2.45B	$2.23B
FY 2019	$972.3M	$401.4M	$34.4M	$223.4M	$3.39B	$0	-$599.2M	$1.63B	$1.76B
FY 2018	$1.04B	$295.4M	$30.6M	$145.0M	$2.61B	$0	-$424.7M	$1.32B	$1.29B
FY 2017	$1.02B	$291.9M	$29.8M	$122.4M	$2.48B	$0	-$673.2M	$1.25B	$1.23B
FY 2016	$882.4M	$268.2M	$34.1M	$123.2M	$2.31B	$0	-$514.6M	$1.12B	$1.19B
FY 2015	$774.3M	$279.4M	$33.7M	$95.9M	$2.31B	$0	-$390.5M	$995.6M	$1.32B
FY 2014	$645.4M	$242.2M	$24.5M	$66.8M	$2.18B	$0	-$281.5M	$815.6M	$1.37B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	81.4%	24.8%	22.4%	1.5x	1.5x	19.3%	13.8%	5.8x	20.2x	4.8%	17.5%	104d
FY 2024	80.2%	23.4%	20.1%	1.4x	1.3x	18.1%	12.9%	4.4x	15.9x	5.9%	17.4%	108d
FY 2023	78.9%	16.8%	14.0%	1.2x	1.2x	14.1%	10.1%	3.3x	14.4x	6.2%	19.2%	113d
FY 2022	80.0%	15.0%	12.0%	1.0x	1.0x	13.0%	8.8%	3.3x	16.9x	4.7%	20.2%	115d
FY 2021	81.1%	15.1%	12.7%	1.1x	1.1x	14.0%	9.2%	4.8x	24.9x	5.1%	19.7%	48d
FY 2020	82.6%	16.7%	13.1%	1.4x	1.3x	13.8%	8.8%	3.3x	15.6x	8.0%	18.8%	35d
FY 2019	84.1%	23.1%	19.1%	1.4x	1.3x	24.3%	17.9%	3.5x	13.3x	7.6%	18.2%	36d
FY 2018	83.3%	28.2%	21.0%	1.5x	1.5x	35.3%	27.7%	5.2x	16.8x	6.1%	16.9%	22d
FY 2017	83.1%	27.0%	20.1%	1.5x	1.5x	34.2%	26.7%	3.4x	11.1x	9.0%	16.8%	29d
FY 2016	83.1%	27.4%	18.3%	1.5x	1.5x	30.9%	24.9%	4.0x	12.9x	7.7%	16.8%	49d
FY 2015	82.7%	28.8%	19.0%	1.6x	1.5x	27.7%	23.1%	4.1x	13.1x	7.4%	15.4%	34d
FY 2014	82.1%	28.5%	18.0%	1.6x	1.5x	22.7%	19.9%	5.0x	16.1x	5.9%	15.2%	28d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+9.7%	+11.3%	+10.1%	+16.3%	+22.2%	+23.9%	+18.9%	-42.2%	+25.1%	+1.1%	+12.6%	+5.8%
FY 2024	+0.1%	+1.7%	-9.3%	+39.4%	+43.5%	+46.4%	+27.2%	+43.9%	+33.8%	+6.0%	+6.9%	-10.6%
FY 2023	+4.4%	+3.0%	-0.6%	+17.0%	+22.6%	+23.4%	+46.5%	-61.1%	-9.2%	-42.5%	-0.5%	-44.4%
FY 2022	+3.6%	+2.2%	+6.0%	+2.5%	-2.7%	-2.2%	-33.4%	-9.7%	-2.9%	+468.4%	+5.6%	-7.4%
FY 2021	+10.7%	+8.6%	+16.2%	+0.4%	+7.7%	+8.1%	+2.3%	+48.9%	-24.7%	-20.9%	+6.8%	-9.0%
FY 2020	+4.8%	+3.0%	+8.2%	-24.3%	-28.1%	-29.1%	-6.7%	+42.1%	+24.4%	-18.9%	+38.0%	0.0%
FY 2019	+3.7%	+4.8%	+11.5%	-14.9%	-5.7%	-3.9%	-8.9%	-93.7%	-6.5%	+12.5%	+30.1%	0.0%
FY 2018	+3.4%	+3.6%	+4.5%	+8.0%	+7.8%	+13.0%	+1.4%	-38.2%	+2.2%	+2.5%	+5.2%	0.0%
FY 2017	+4.8%	+4.7%	+4.8%	+3.0%	+15.0%	+20.8%	+8.4%	+43.3%	+15.2%	-12.4%	+7.4%	0.0%
FY 2016	+3.9%	+4.4%	+12.7%	-1.0%	+0.2%	+7.1%	+4.2%	-1.7%	+14.0%	+1.0%	-0.3%	0.0%
FY 2015	+10.8%	+11.6%	+12.4%	+12.0%	+17.3%	+22.8%	+17.3%	-195.3%	+20.0%	+37.8%	+5.8%	0.0%
FY 2014	+16.9%	+15.8%	+25.8%	+14.6%	+12.2%	+17.0%	+11.2%	+14.5%	+19.0%	+28.6%	-2.0%	0.0%

Revenue Mix