F5, Inc. (FFIV) FY2025 10-K Annual Report
F5, Inc. (FFIV) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 25, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
F5, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Provides application delivery, security, and multi-cloud services and solutions
- • No new products, services, or segments introduced or emphasized in this filing year
- • No noted strategic shift or change in competitive positioning compared to prior year
- • No quantitative metrics disclosed or updated in this business section
- • Business section largely consists of incorporated references to Proxy Statement and prior filings, no standalone business description
Management Discussion & Analysis
- • Revenue $3.09B, up 9.7% YoY; products $1.51B (+18.5%), services $1.58B (+2.3%)
- • Gross margin 81.4% vs 80.2%; product margin 22.4% vs 26.4%, service margin 14.9% vs 14.3%
- • Best performing segment: Systems revenue $705.6M, up 31.3%; Worst: SaaS & managed services $175.6M, down 9.0%
- • Operating cash flow $949.7M, up $157.3M; capital expenditures $43.3M; acquisitions $171.1M; stock repurchases $502.1M
- • Management forecasts no material impact from new tax laws; monitors risks around tax provisions and international regulations
Risk Factors
- • Tax liabilities $99.3M uncertain tax positions with unknown timing of future cash outflows
- • Purchase commitment $10M annual component inventory, $40M total over 4 years with supplier through 2026
- • $171.1M cash used for acquisitions in fiscal 2025, up from $32.9M in fiscal 2024 impacting cash flow
- • No borrowings under expired $350M Revolving Credit Facility as of Jan 31, 2025, potential liquidity constraint
- • $502.1M cash used for stock repurchases and excise taxes in fiscal 2025, consistent with prior year
F5, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$3.1B
▲ +9.7% YoY
Net Income
$692M
▲ +22.2% YoY
Gross Margin
81.4%
▲ +122bp YoY
Operating Margin
24.8%
▲ +142bp YoY
Net Margin
22.4%
▲ +229bp YoY
ROE
19.3%
▲ +116bp YoY
Total Assets
$6.3B
▲ +12.6% YoY
EPS (Diluted)
$11.80
▲ +23.6% YoY
Operating Cash Flow
$950M
▲ +19.8% YoY
Source: XBRL data from F5, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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