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F5, Inc. logo

F5, Inc. Income Statement

Revenue, expenses, and profitability over time

F5, Inc. generated $3.2B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $697.8M with a 21.56% net margin. Gross margin stands at 81.37% and operating margin at 24.83%. Diluted EPS is $12.02, which grew 0.1% year-over-year. Based on the Q2 2026 filing.

Total Revenue (TTM)$3.2BGross Profit (TTM)$2.6BOperating Income (TTM)$795.2MNet Income (TTM)$708.2MEps Diluted (TTM)$12.19
Latest FilingQ2 2026
Report Date2026-05-05
Market Cap$22.2B
P/E Ratio31.84

Operating Expenses

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Stock-Based Compensation Expense$57.9M$58.9M$57.5M$57.2M$60M$68M
Advertising$1.6M$1.6M$1.6M$1.6M——
Amortization of Finite-Lived Intangible Assets$10.7M$10.7M$10.7M$10.7M——
Share-Based Compensation Expense$57.9M$58.9M$57.5M$57.2M$60M$68M
Amortization expense$10.7M$10.7M$10.7M$10.7M——
Operating Lease Cost$10M$10M$10.1M$9.5M$9.7M$9.7M
Short-term Lease Cost$819K$691K$740K$640K$839K$1.1M
Stock-based compensation expense$57.9M$58.9M$57.5M$57.2M$60M$68M
Compensation and benefits$57.9M$58.9M$57.5M$57.2M$60M$68M
Total Lease Cost$16.4M$16.7M$16.5M$16M$16.5M$16.5M
Depreciation and amortization$22.7M$22.5M$22.5M$24.8M$24.6M$24.6M
General and administrative$73M$76.6M$78.7M$94M$90.6M$91.6M
Total Lease Cost$16.4M$16.7M$16.5M$16M$16.5M$16.5M
Operating Lease Cost$10M$10M$10.1M$9.5M$9.7M$9.7M
Total Lease Cost$16.4M$16.7M$16.5M$16M$16.5M$16.5M
Amortization of Contract Acquisition Assets$9.1M$9.6M$9.6M$10M$10.3M$10.7M
Lease Cost$16.4M$16.7M$16.5M$16M$16.5M$16.5M
Operating Lease Cost$10M$10M$10.1M$9.5M$9.7M$9.7M
Stock-based compensation expense$57.9M$58.9M$57.5M$57.3M$60M$68M
Variable Lease Cost$5.6M$5.9M$5.7M$5.8M$5.9M$5.8M
Occupancy and equipment$10M$10M$10.1M$9.5M$9.7M$9.7M
Restructuring charges, net$11.3M$0——-$43K-$315K
Other operating expenses$420.9M$431.3M$435.4M$460.6M$456.5M$481.8M
Share-Based Compensation Expense$57.9M$58.9M$57.5M$57.2M$60M$68M
Research and development$130.5M$136.6M$136.3M$136.4M$141.2M$151M
Selling and marketing$206M$218.1M$220.4M$216M$224.8M$239.4M
Share-Based Compensation$57.9M$58.9M$57.5M$57.2M$60M$68M
Amortization of Deferred Costs$9.1M$9.6M$9.6M$10M$10.3M$10.7M
Defined Contribution Plan Employer Contribution$2.7M$2.7M$2.7M$2.7M——
Impairment of Deferred Contract Costs$0$0$0$0$0$0
Variable Lease Expense$5.6M$5.9M$5.7M$5.8M$5.9M$5.8M
Total operating expenses$420.9M$431.3M$435.4M$460.6M$456.5M$481.8M
Variable Lease Cost$5.6M$5.9M$5.7M$5.8M$5.9M$5.8M
Lease Costs$16.4M$16.7M$16.5M$16M$16.5M$16.5M
Operating Lease Cost$10M$10M$10.1M$9.5M$9.7M$9.7M
Variable Lease Cost$5.6M$5.9M$5.7M$5.8M$5.9M$5.8M
Variable Lease Cost$5.6M$5.9M$5.7M$5.8M$5.9M$5.8M

Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Unrecognized Tax Benefits Current Period Increases$2.6M$2.6M$2.6M$2.6M——
Unrecognized Tax Benefits Prior Period Decreases$595.3K$595.3K$595.3K$595.3K——
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.1—$0.2$0.2
Effective Tax Rate$0.2$0.2$0.1—$0.2$0.2
Cash Paid for Income Taxes$51.4M$51.4M$51.4M$51.4M——
Current income tax expense (benefit)$47.1M$47.1M$47.1M$47.1M——
Deferred Foreign Tax Expense (Benefit)-$4.2M-$4.2M-$4.2M-$4.2M——
Effective Tax Rate, Continuing Operations$0.2$0.2$0.1—$0.2$0.2
Stock-Based Compensation Tax Benefit$12.5M$12.5M$12.5M$12.5M——
State and Local Income Taxes, Net$5.2M$5.2M$5.2M$5.2M——
Current State Tax Expense$5.2M$5.2M$5.2M$5.2M——
Deferred Foreign Tax Expense-$4.2M-$4.2M-$4.2M-$4.2M——
Effective Income Tax Rate, Continuing Operations$0.2$0.2$0.1—$0.2$0.2
Tax Reconciliation, Foreign Rate Differential-$2.5M-$2.5M-$2.5M-$2.5M——
Tax Reconciliation, Other Items$924.5K$924.5K$924.5K$924.5K——
Tax Reconciliation, State and Local Taxes$2.9M$2.9M$2.9M$2.9M——
Effective Tax Rate$0.2$0.2$0.1—$0.2$0.2
Current State and Local Tax Expense (Benefit)$5.2M$5.2M$5.2M$5.2M——
Deferred Foreign Tax Expense (Benefit)-$4.2M-$4.2M-$4.2M-$4.2M——
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.1—$0.2$0.2
Income Taxes Paid, Net$51.4M$51.4M$51.4M$51.4M——
Share-Based Compensation Tax Benefit$12.5M$12.5M$12.5M$12.5M——
Current State and Local Tax Expense$5.2M$5.2M$5.2M$5.2M——
Deferred Foreign Tax Expense-$4.2M-$4.2M-$4.2M-$4.2M——
Income tax expense$42.6M$25.7M$23.1M$24.6M$42.9M$41.5M
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.1—$0.2$0.2
Share-Based Compensation Tax Benefit$12.5M$12.5M$12.5M$12.5M——
Unrecognized Tax Benefits Reevaluation (Statute Lapse)$3.4M$3.4M$3.4M$3.4M——
Current Income Tax Expense$47.1M$47.1M$47.1M$47.1M——
Current State and Local Tax Expense (Benefit)$5.2M$5.2M$5.2M$5.2M——
Deferred Income Tax Expense-$11.9M-$27.3M-$17.1M-$15.9M-$9.6M-$11M
Current Federal Tax Expense$22.6M$22.6M$22.6M$22.6M——
Current Foreign Tax Expense$19.3M$19.3M$19.3M$19.3M——
Current State and Local Tax Expense$5.2M$5.2M$5.2M$5.2M——
Deferred Federal Tax Expense-$11.3M-$11.3M-$11.3M-$11.3M——
Deferred Foreign Tax Expense-$4.2M-$4.2M-$4.2M-$4.2M——
Deferred Income Tax Expense (Benefit)-$18.1M-$18.1M-$18.1M-$18.1M——
Deferred State and Local Tax Expense-$2.6M-$2.6M-$2.6M-$2.6M——
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.1—$0.2$0.2
Income Taxes Paid, Net$51.4M$51.4M$51.4M$51.4M——
Effective Income Tax Rate$0.2$0.2$0.1—$0.2$0.2
Foreign Rate Differential-$2.5M-$2.5M-$2.5M-$2.5M——
Current State and Local Tax Expense (Benefit)$5.2M$5.2M$5.2M$5.2M——
Deferred Foreign Tax Expense (Benefit)-$4.2M-$4.2M-$4.2M-$4.2M——
Effective Tax Rate, Continuing Operations$0.2$0.2$0.1—$0.2$0.2
Current State and Local Tax Expense (Benefit)$5.2M$5.2M$5.2M$5.2M——
Deferred and Other Income Taxes-$11.9M-$27.3M-$17.1M-$15.9M-$9.6M-$11M
Deferred Foreign Tax Expense (Benefit)-$4.2M-$4.2M-$4.2M-$4.2M——
Income and Other Taxes$51.4M$51.4M$51.4M$51.4M——
Current State and Local Tax Expense$5.2M$5.2M$5.2M$5.2M——
Deferred Foreign Tax Expense-$4.2M-$4.2M-$4.2M-$4.2M——
Effective Tax Rate Continuing Operations$0.2$0.2$0.1—$0.2$0.2

Earnings Per Share

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Weighted Average Diluted Shares Adjustment$753K$878K$720K—$514K$590K
Basic earnings per share$2.85$2.51$3.29$3.31$3.12$2.61
Diluted earnings per share$2.82$2.48$3.25$3.26$3.10$2.58
Weighted Average Diluted Shares Adjustment$753K$878K$720K—$514K$590K
Weighted average number diluted shares outstanding adjustment$753K$878K$720K—$514K$590K
Weighted-average shares, basic58.3M57.9M57.8M—57.7M56.7M
Weighted-average shares, diluted59.1M58.8M58.5M—58.2M57.3M

Other Income & Expense

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Other Non-Cash Income (Expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M
Other non-cash income (expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M
Other Charges$4M$12.3M$16.7M$9.4M$8.7M$10.2M
Sublease Income$4.8M$4.7M——$6.7M—
Interest income$10.3M$9.3M$10.1M$11.1M$8.9M$8.2M
Other Non-Cash Income (Expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M
Sublease Income$4.8M$4.7M——$6.7M—
Other income (expense), net$4M$12.3M$16.7M$9.4M$8.7M$10.2M
Other Non-cash Income (Expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M
Other Non-Cash Income (Expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Capital Expenditures$8.1M$10.5M$8.5M$16.1M$9.7M$18.3M
Change in Accounts Receivable$98.2M-$105.5M-$19.6M$55.2M$79.4M—
Change in Deferred Revenue$148.3M—$34.4M$41.5M$62.4M$56.6M
Change in Other Current Assets$57.1M$0$1.1M$49.1M$58.6M$1.1M
Comprehensive Income Including Noncontrolling Interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Other comprehensive income (loss), net of tax-$3.3M$1.9M$3.8M$234K$129K-$840K
Comprehensive Income Attributable to Parent$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Acquisitions, Net of Cash——$14.1M$146.9M——
Change in Accounts Payable and Accrued Liabilities$6.6M-$40.4M$14.8M$47.9M-$44.7M—
Change in Inventories-$3.1M-$5.4M-$960K$10.3M$2.7M$10.4M
Effect of Exchange Rate on Cash (Continuing Operations)-$3.6M$2M$4M$226K-$131K-$900K
Net Change in Cash and Restricted Cash$78.1M$106.4M$163.7M—-$144.4M$244M
Operating Lease Payments$10.9M$12M$11.3M$10.5M$10.4M$10.1M
Payments for Restructuring$9.2M$1.9M$118K—$8.2M$272K
ROU Asset Obtained - Operating Lease$35.1M$1.8M$305K$11.1M$13.9M$762K
Shares Issued for Share-Based Compensation$23.7M$176K$35.1M$133K$22.8M$96K
Comprehensive Income Including Noncontrolling Interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Number of reportable segments1.00———1.00—
Other comprehensive income (loss), after-tax-$3.3M$1.9M$3.8M$234K$129K-$840K
Income Taxes Paid, Net$51.4M$51.4M$51.4M$51.4M——
Comprehensive income (loss), including noncontrolling interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Advertising costs$1.6M$1.6M$1.6M$1.6M——
Amortization of capitalized software and acquired intangible assets$10.7M$10.7M$10.7M$10.7M——
Additional capitalized contract acquisition costs$13.2M$8.3M$12.8M$14.2M$12.4M$13.7M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Amounts added but not recognized as revenues$556.9M$293.9M$272.3M$221M$493.8M$396M
Cost of Issuance of Treasury Stock$13.4M$2.7M$3.5M$2.3M—$3.3M
Federal$22.6M$22.6M$22.6M$22.6M——
Foreign$19.3M$19.3M$19.3M$19.3M——
Federal-$11.3M-$11.3M-$11.3M-$11.3M——
Deferred taxes-$18.1M-$18.1M-$18.1M-$18.1M——
Deferred and other income taxes-$11.9M-$27.3M-$17.1M-$15.9M-$9.6M-$11M
State-$2.6M-$2.6M-$2.6M-$2.6M——
Defined contribution plan costs$2.7M$2.7M$2.7M$2.7M——
Effective tax rates$0.2$0.2$0.1—$0.2$0.2
Effective Income Tax Rate Reconciliation, FDII, Amount$8M$8M$8M$8M——
Share-Based Payment Arrangement, Expense, Tax Benefit$12.5M$12.5M$12.5M$12.5M——
Goodwill Additions$32.9M$32.9M$32.9M$32.9M——
Tax holiday income tax benefits$2.4M$2.4M$2.4M$2.4M——
Income Tax Holiday Income Tax Benefits Per Share$0.04$0.04$0.04$0.04——
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount$42.4M$42.4M$42.4M$42.4M——
Share-based compensation-$658.8K-$658.8K-$658.8K-$658.8K——
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount$2.9M$2.9M$2.9M$2.9M——
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount$6.1M$6.1M$6.1M$6.1M——
Income Taxes Paid, Net$51.4M$51.4M$51.4M$51.4M——
Accounts payable and other current liabilities$6.6M-$40.4M$14.8M$47.9M-$44.7M—
Increase (Decrease) in Accounts Receivable$98.2M-$105.5M-$19.6M$55.2M$79.4M—
Increase (decrease) in contract liabilities and current deferred income$148.3M—$34.4M—$62.4M$56.6M
Increase (Decrease) in Inventories-$3.1M-$5.4M-$960K$10.3M$2.7M$10.4M
Increase (Decrease) in Other Current Assets$57.1M$0$1.1M$49.1M$58.6M$1.1M
Increase (decrease) in other assets$34.5M$0$39.9M$23.6M-$28.6M—
Interest Income, Other$10.3M$9.3M$10.1M$11.1M$8.9M$8.2M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$114.7M-$129.6M-$93.4M-$127.2M-$293M-$103.3M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$10M-$20.6M-$25.1M-$163.8M-$10.6M-$18.7M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$202.8M$256.6M$282.2M$208.1M$159.2M$365.9M
Number of reportable segments$1———$1—
Number of geographic regions3.00———3.00—
Operating Lease Payments$10.9M$12M$11.3M$10.5M$10.4M$10.1M
Foreign currency translation gains (losses)-$3.3M$1.9M$3.8M$234K$129K-$840K
Other comprehensive income (loss)-$3.3M$1.9M$3.8M$234K$129K-$840K
Other Noncash Income (Expense)-$1.6M-$2.1M-$172K-$1.7M$1.1M$2.4M
Other income, net (Note 6)$4M$12.3M$16.7M$9.4M$8.7M$10.2M
Payments for Repurchase of Common Stock——$125M$125M——
Payments for Restructuring$9.2M$1.9M$118K—$8.2M$272K
Payments to Acquire Businesses, Net of Cash Acquired——$14.1M$146.9M——
Payments to Acquire Investments$1.9M$0$2.5M$1.3M$2.2M$730K
Payments to Acquire Property, Plant, and Equipment$8.1M$10.5M$8.5M$16.1M$9.7M$18.3M
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options$23.7M$176K$35.1M$133K$22.8M$96K
Repurchase of common stock, including excise taxes$125M$125.5M$125.1M$125.5M$302M$100.3M
Increase in liability (separation charges)$11.3M———-$43K-$315K
Revenue From Contract With Customer Excluding Assessed Tax$766.5M$731.1M$780.4M$810.1M$822.5M$811.7M
Stock-based compensation$57.9M$58.9M$57.5M$57.2M$60M$68M
Granted (in shares)0000——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period198198198198——
Forfeited or expired (in shares)$6.63$6.63$6.63$6.63——
Vested, grant-date fair value$80.7M$80.7M$80.7M$80.7M——
Intrinsic value of stock options exercised$1.5M$1.5M$1.5M$1.5M——
Granted (in shares)$0.00$0.00$0.00$0.00——
Exercised (in shares)$9.32$9.32$9.32$9.32——
Stock issued for employee stock purchase plan$23.2M—$35M—$22.8M—
Issuance of vested restricted stock units$0$0$0—$0$0
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture$57.9M$58.9M$57.5M$57.2M$60M$68M
Stock Issued During Period, Value, Stock Options Exercised$523K$176K$131K$133K$22K$96K
Value of shares repurchased$125M$125M$125M$125M$300M$100M
Average price paid (in dollars per share)$255.31$259.46$256.23$9.05$249.33$268.54
Unrecognized tax benefits, settlements$0$0$0$0——
Additions for tax positions of prior years$1.3M$1.3M$1.3M$1.3M——
Increase (decrease) in amount of unrecognized tax benefits$225K$225K$225K$225K——
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount-$1.4M-$1.4M-$1.4M-$1.4M——
Add: dilutive effect of potential common shares (in shares)$753K$878K$720K—$514K$590K
Comprehensive Income (Loss), Total$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Comprehensive Income, Including Noncontrolling Interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Foreign Currency Translation Adjustment, Net of Tax-$3.3M$1.9M$3.8M$234K$129K-$840K
Comprehensive Income Including Noncontrolling Interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Total Comprehensive Income$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Comprehensive Income$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Stock Repurchased During Period, Value$125M$125M$125M$125M$300M$100M

Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue Recognized from Contract Liability-$408.6M-$317.5M-$237.9M-$179.5M-$431.4M-$339.4M
Revenue Recognized from Contract Liabilities-$408.6M-$317.5M-$237.9M-$179.5M-$431.4M-$339.4M
Gift Card Revenue Recognized-$408.6M-$317.5M-$237.9M-$179.5M-$431.4M-$339.4M
Revenue Recognized from Contract Liability-$408.6M-$317.5M-$237.9M-$179.5M-$431.4M-$339.4M
Total revenue$766.5M$731.1M$780.4M$810.1M$822.5M$811.7M

Net Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Comprehensive income (loss), including noncontrolling interest$163.2M$147.4M$193.7M$190.7M$180.2M$146.9M
Net income$166.4M$145.5M$189.9M$190.5M$180.1M$147.8M

Operating Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Gross profit$626M$590.2M$631.7M$666.2M$670.7M$660.8M
Operating income$205.1M$158.9M$196.3M$205.7M$214.2M$179M

Income Before Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Income before income taxes$209M$171.2M$213M$215.1M$222.9M$189.2M
Income (Loss) from Continuing Operations Before Income Taxes, Domestic$136.9M$136.9M$136.9M$136.9M——
Income (Loss) from Continuing Operations Before Income Taxes, Foreign$65.2M$65.2M$65.2M$65.2M——
Income Before Tax, Domestic$136.9M$136.9M$136.9M$136.9M——
Income Before Tax, Foreign$65.2M$65.2M$65.2M$65.2M——

Cost of Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Total cost of revenue$140.5M$141M$148.6M$143.9M$151.8M$150.9M