F5, Inc.
FFIV Technology Software Infrastructure
F5, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $3.1 billion, up 9.66% from fiscal 2024. Member of the S&P 500; revenue growth for ten consecutive years, operating cash flow growth for three.
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F5, Inc. (FFIV) Piotroski F-score
F5, Inc.'s Piotroski F-score for fiscal 2025 is 7 out of 9: 7 of nine tests of profitability, leverage and efficiency passed, down from 8 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 7 | (1.00) |
| FY2024 | 8 | 0.00 |
| FY2023 | 8 | 3.00 |
| FY2022 | 5 | 0.00 |
| FY2021 | 5 | 1.00 |
| FY2020 | 4 | (2.00) |
| FY2019 | 6 | (1.00) |
| FY2018 | 7 | 0.00 |
| FY2017 | 7 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 11.60% | 10.44% | Pass | 1 |
| Positive operating cash flow | 949.67m | 792.42m | Pass | 1 |
| Rising return on assets | 11.60% | 10.44% | Pass | 1 |
| Cash flow above net income | 257.29m | 225.64m | Pass | 1 |
| Falling long-term leverage | 0.13 | 0.00 | Fail | 0 |
| Rising current ratio | 1.56 | 1.42 | Pass | 1 |
| No new shares issued | 57,904,000 | 58,720,000 | Pass | 1 |
| Rising gross margin | 81.41% | 80.20% | Pass | 1 |
| Rising asset turnover | 0.52 | 0.52 | Fail | 0 |
| Piotroski F-score | Strong — most fundamentals improved | 7 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| VRSN VeriSign, Inc. compare | 8 |
| FFIV F5, Inc. | 7 |
| IOT Samsara Inc. compare | 7 |
| RBRK Rubrik, Inc. compare | 5 |
| CPAY Corpay, Inc. compare | 5 |
| MDB MongoDB, Inc. compare | 5 |
| GPN Global Payments Inc. compare | 5 |
| NTNX Nutanix compare | 4 |
| ZS Zscaler, Inc. compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover
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- Revenue
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- EBITDA
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- Operating margin
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- P/E ratio
- P/S ratio
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- Price to free cash flow
- EV/EBITDA
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- EV/FCF
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- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
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- Altman Z-score
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