FFIV F5, Inc. - Common Stock
NASDAQ · Communications · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026FFIV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| Aug. 21, 2007 | 2-for-1 | Forward |
About F5, Inc. - Common Stock Company overview from Wikipedia
F5, Inc. is an American technology company specializing in multicloud application delivery, API security, online fraud prevention, zero trust access, and enterprise AI workload security.
While F5 originally developed hardware-based application delivery controller (ADC) load-balancing appliances, the company has transitioned to a software-led business model. Software subscriptions and cloud-delivered services now account for a major portion of its product revenue, driven by a corporate shift toward predictable, recurring subscription models. The technological core of F5's platform portfolio is its Traffic Management Operating System (TMOS). F5 offers these services as virtual machines (branded as the BIG-IP Virtual Edition) that deploy programmatically across hybrid, multi-cloud, on-premises, and network edge environments to manage traffic, secure public APIs, and enforce zero-trust identity policies.
History
F5, Inc., originally established as "F5 Labs" in 1996. In June 1999, F5 went public through an initial public offering, listing on the NASDAQ stock exchange under the ticker symbol "FFIV."
F5's modern transition culminated in major expansions into application security and software services, supporting over 23,000 customers globally, including 48 of the Fortune 50 companies, who utilize the platform for hybrid multi-cloud application delivery, zero-trust network access, and API protection.
Products
F5 AI Security Platform
In June 2026, F5 introduced the F5 AI Security Platform, an enterprise security offering designed to govern, discover, test, and protect artificial intelligence applications, models, and autonomous software agents. The platform is built to operate across hybrid multi-cloud, on-premises, and air-gapped environments, targeting security challenges associated with agentic AI, such as prompt injection, data exfiltration, and excessive agent autonomy.
The platform's primary security capabilities are delivered through two components integrated into F5's portfolio:
F5 AI Red Team: An automated adversarial testing system that simulates attacks on AI applications to identify vulnerabilities, such as jailbreak vulnerabilities and model data poisoning, prior to production deployment.
F5 AI Guardrails: A real-time, inline semantic firewall that inspects user prompts and model-generated responses. It is designed to block injection attacks, filter out off-topic or toxic responses, and apply dynamic data loss prevention (DLP) parameters to prevent sensitive data leakage.
F5 Application Delivery and Security Platform (ADSP)
In 2025, F5 introduced the Application Delivery and Security Platform (ADSP), a unified offering that combines application delivery, API protection, and threat mitigation across hardware, software, and Software-as-a-Service (SaaS) environments. ADSP is designed to support hybrid and multicloud deployments and includes capabilities such as load balancing, web application firewalls, DDoS protection, and encrypted traffic inspection.
F5 BIG-IP
F5's BIG-IP product family comprises hardware, modularized software, and virtual appliances that run the F5 TMOS operating system. Depending on the appliance selected, one or more BIG-IP product modules can be added.
In 1997, the company introduced its flagship product, BIG-IP.
BIG-IP history
On September 7, 2004, F5 Networks released version 9.0 of the BIG-IP software in addition to appliances to run the software. Version 9.0 also marked the introduction of the company's TMOS architecture, with enhancements including:
The move from BSD to Linux to handle system management functions (disks, logging, bootup, console access, etc.)
The creation of a Traffic Management Microkernel (TMM) to directly talk to the networking hardware and handle all network activities.
F5 NGINX
Since the NGINX, Inc. acquisition in 2019, F5 has offered an enterprise offering of NGINX with advanced features, multiple support SLAs, and regular software updates.
F5 Distributed Cloud Services
During F5 Agility 2022, F5 announced a new product offering being built on the platforms of BIG-IP, Shape Security, and Volterra. The primary offering in this suite is the SaaS-based web application and API protection (WAAP). F5 Distributed Cloud Services enable organizations to deploy, secure, and manage their applications across various environments, including data centers, multi-cloud setups, and the network or enterprise edge.
Acquisitions
SurePath AI
In June 2026, F5 acquired Denver-based startup SurePath AI, a platform specializing in network-based artificial intelligence discovery and shadow AI detection. The acquisition's technology identifies corporate workforce usage of unauthorized AI tools and tracks agent behaviors at the network layer without requiring direct application integrations. The financial terms of the transaction were not disclosed.
CalypsoAI
In September 2025, F5 announced its intent to acquire CalypsoAI, a Dublin-based startup specializing in runtime AI security and adaptive guardrails, for approximately $180 million. CalypsoAI’s platform offers techniques such as red teaming, inference-layer defenses, and policy enforcement suited for generative and agentic AI workloads. On September 29, 2025, F5 completed its acquisition of CalypsoAI and introduced F5 AI Guardrails and F5 AI Red Team.
MantisNet, Inc.
In August 2025, F5 acquired MantisNet, Inc., a Reston-based provider of eBPF-powered, cloud-native network observability and real-time network intelligence. MantisNet’s agentless telemetry technology enables visibility into encrypted, ephemeral, and east–west traffic within containerized environments and 5G architectures without performance overhead, streamlining observability and security functions in cloud-native deployments.
Fletch, Inc.
In June 2025, F5 acquired Fletch, Inc., a San Francisco cybersecurity startup founded in 2020 that developed agentic AI tools for threat detection and alert prioritization. Fletch’s technology was designed to analyze large volumes of threat intelligence and reduce alert fatigue by surfacing relevant security signals in real time, aiding operator decision-making.
LeakSignal
In March 2025, F5, Inc. acquired LeakSignal, a cybersecurity company specializing in real-time data protection and governance for AI applications. The acquisition aimed to enhance the F5 Application Delivery and Security Platform (ADSP) with capabilities such as AI-driven data classification, policy enforcement, and compliance monitoring. LeakSignal had been recognized by the National Institute of Standards and Technology (NIST) for its innovations in securing data in transit.
Heyhack
In March 2024, F5 announced it had acquired Heyhack ApS, a Denmark-based security penetration SaaS company. The financial details of this acquisition were not disclosed. F5 announced Heyhack's automated security reconnaissance and penetration testing solution would be rolled into the F5 Distributed Cloud Services platform.
Wib Security, Inc.
In February 2024 at AppWorld, F5's application security conference in San Jose, California, F5 announced it had acquired Wib: an API security company based in Tel Aviv, Israel, focused on vulnerability detection and observability in application development. The financial details of the acquisition were not disclosed. As of February 2024, F5 was adding the Wib API intellectual property to the F5 Distributed Cloud Services product line.
Suborbital Software Systems, Inc.
In July 2023, Suborbital Software Systems, Inc., a technology startup that aimed to build cloud-native platforms on WebAssembly, announced it had been acquired by F5, Inc. The details of this acquisition were not disclosed due to the small nature of Suborbital's operations. The entire Suborbital product was deployed within the F5 Distributed Cloud Services line.
Lilac Cloud, Inc.
In January 2023, F5 announced it had entered into an agreement to purchase Lilac Cloud, an application services delivery provider. Lilac Cloud, based in Cupertino, California, served as F5's Content Delivery Network (CDN) provider for its Distributed Cloud Services. The entire Lilac Cloud offering was rolled into the overall F5 Distributed Cloud Services product line.
Threat Stack, Inc.
In October 2021, F5 acquired Threat Stack, Inc., a Boston cloud computing security startup company for a reported $68 million.[42] As of December 15, 2022, the previous Threat Stack offering had been rolled into the F5 Distributed Cloud platform.
Volterra, Inc.
In January 2021, F5 acquired Volterra, Inc., an edge networking company that sells SaaS security services, for $500 million.[40] The previously Volterra-branded products were incorporated into F5 Distributed Cloud Services, as of 2022.[41]
Shape Security, Inc.
In January 2020, F5 acquired Shape Security, Inc., an AI-based bot detection company, for $1 billion.[38] F5 Networks then used the acquisition to introduce a new fraud detection engine.[39]
NGINX, Inc.
In March 2019, F5 acquired NGINX, Inc., a company responsible for widely used open-source web server software, for $670 million.[33] On 18 January 2022, original NGINX developer Igor Sysoev left F5, Inc. Later on, forks maintaining open-source licenses such as Angie and freenginx started being developed by core NGINX contributor Maxim Dounin.[34][35] Igor Sysoev is not actively involved in these projects.[36][37]
Defense.Net, Inc.
In May 2014, F5, Inc. (then F5 Networks, Inc.) announced it had acquired Defense.Net, Inc., a company offering cloud-based DDoS mitigation services. The Defense.Net product would later become F5 Silverline. As of December 2022, the Silverline brand was retired, and the managed service offerings Silverline offered were merged into the F5 Distributed Cloud Services product portfolio.
LineRate Systems, Inc.
In February 2013, F5 Networks acquired LineRate Systems, a developer of software-defined networking (SDN) services, to enhance its application-layer intelligence within software-defined data centers. This acquisition provided F5 with access to LineRate's layer 7+ networking services technology, intellectual property, and engineering talent.
Acopia Networks, Inc.
In August 2007, F5, Inc., at the time, F5 Networks, Inc., announced they acquired Acopia Networks, Inc. to add file-area networking to the F5 BIG-IP application-delivery product line, also known as the Local Traffic Manager (LTM) module on the BIG-IP platforms. The deal was valued at $210 million.
Swan Labs Corporation
In September 2005, F5 announced they had acquired Swan Labs for a total of $43 million to incorporate WAN optimization and application acceleration technology into the BIG-IP platform, specifically to improve their load balancing offering.
Traffix Systems, Inc.
In 2005, F5 Networks, Inc. at the time, now F5, Inc., announced it has acquired Traffix Systems for a total value of $135 million. Traffix Systems product was integrated within the F5 BIG-IP Local Traffic Manager (LTM) product line.
MagniFire Websystems, Inc.
F5 acquired MagniFire Websystems in 2004 for a total cash deal size of $29 million. This acquisition allowed F5 to enter the web application security space within the BIG-IP platform. MagniFire Websystems products were sold independently when the deal first closed, then were quickly bundled into the BIG-IP product group.
uRoam, Inc.
F5 acquired uRoam, Inc. in 2003 for a total cash deal size of $25 million. The strategic intent behind F5 Networks' acquisition of uRoam was to diversify its product offerings beyond its core application delivery and security services. This move aimed to address the growing demand for secure remote access to corporate networks and applications, aligning with industry trends.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | FFIV | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 36.25Y avg ≈27.9 | ≈27.9 | 34.0 | Undervalued | |
| P/S (TTM) | 7.85Y avg ≈4.4 | ≈4.4 | 8.5 | Undervalued | |
| P/B (MRQ) | 6.75Y avg ≈4.3 | ≈4.3 | 10.9 | Undervalued | |
| Price / FCF (TTM) | 26.65Y avg ≈18.8 | ≈18.8 | · | · | |
| Price / Cash Flow (TTM) | 24.65Y avg ≈17.7 | ≈17.7 | 32.5 | Undervalued | |
| Price / Tangible Book (MRQ) | 6.85Y avg ≈245.8 | ≈245.8 | · | · | |
| PEG Ratio | ≈1.9 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | FFIV | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 81.9%5Y avg ≈80.3% | ≈80.3% | 46.2% | Top tier | |
| Operating Margin (TTM) | 24.5%5Y avg ≈19.0% | ≈19.0% | 21.1% | Top tier | |
| EBITDA Margin (TTM) | 27.5%5Y avg ≈22.9% | ≈22.9% | 21.3% | Top tier | |
| Pretax Margin (TTM) | 25.8%5Y avg ≈19.5% | ≈19.5% | 23.7% | Top tier | |
| Net Profit Margin (TTM) | 22.0%5Y avg ≈16.3% | ≈16.3% | 16.9% | Top tier | |
| ROA (TTM) | 11.2%5Y avg ≈8.5% | ≈8.5% | 6.3% | Top tier | |
| ROE (TTM) | 19.8%5Y avg ≈16.2% | ≈16.2% | 12.3% | Top tier | |
| ROIC | 18.3%5Y avg ≈14.7% | ≈14.7% | 17.4% | In line |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | FFIV | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.75Y avg ≈1.3 | ≈1.3 | 2.2 | Low liquidity | |
| Quick Ratio (MRQ) | 1.15Y avg ≈0.9 | ≈0.9 | 1.2 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | FFIV | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 9.7%5Y avg ≈5.7% | ≈5.7% | · | · | |
| Revenue CAGR 3Y | 4.6%5Y avg ≈4.5% | ≈4.5% | · | · | |
| Revenue CAGR 5Y | 5.6% | · | · | · | |
| EPS YoY | 23.6%5Y avg ≈19.8% | ≈19.8% | · | · | |
| Net Income YoY | 22.2%5Y avg ≈18.7% | ≈18.7% | · | · | |
| EPS CAGR 3Y | 30.8%5Y avg ≈20.5% | ≈20.5% | · | · | |
| EPS CAGR 5Y | 18.7% | · | · | · | |
| Net Income CAGR 3Y | 29.0%5Y avg ≈19.1% | ≈19.1% | · | · | |
| Net Income CAGR 5Y | 17.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | FFIV | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.55Y avg ≈0.5 | ≈0.5 | 0.5 | Weak | |
| Inventory Turnover | 7.55Y avg ≈12.1 | ≈12.1 | 2.9 | Top tier | |
| Receivables Turnover | 7.75Y avg ≈7.1 | ≈7.1 | 5.9 | Top tier | |
| Revenue / Employee | ≈$474.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $4.73 | $4.08 | 15.9% | |
| March 31, 2026 | $3.90 | $3.53 | 10.6% | |
| Dec. 31, 2025 | $4.45 | $3.72 | 19.5% | |
| Sept. 30, 2025 | $4.39 | $4.05 | 8.5% | |
| June 30, 2025 | $4.16 | $3.57 | 16.5% | |
| March 31, 2025 | $3.42 | $3.17 | 8.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.09B | $2.82B | $2.81B | $2.70B | $2.60B | $2.35B | $2.24B | $2.16B | $2.09B | $2.00B | $1.92B | $1.73B | |
| Cost of Revenue | $574M | $558M | $593M | $540M | $493M | $408M | $357M | $361M | $353M | $337M | $332M | $310M | |
| Gross Profit | $2.51B | $2.26B | $2.22B | $2.16B | $2.11B | $1.94B | $1.89B | $1.80B | $1.74B | $1.66B | $1.59B | $1.42B | |
| R&D Expense | $540M | $490M | $540M | $543M | $513M | $441M | $408M | $366M | $350M | $334M | $297M | $264M | |
| SG&A Expense | $322M | $269M | $263M | $275M | $274M | $258M | $211M | $160M | $157M | $138M | $136M | $106M | |
| Operating Expenses | $1.75B | $1.60B | $1.75B | $1.75B | $1.72B | $1.55B | $1.37B | $1.21B | $1.17B | $1.11B | $1.03B | $929M | |
| Operating Income | $766M | $659M | $473M | $404M | $394M | $392M | $518M | $591M | $564M | $547M | $553M | $494M | |
| Interest Income | · | · | · | · | $2M | $12M | $25M | $17M | $8M | · | · | · | |
| Other Non-op | $42M | $37M | $13M | $-18M | $-7M | $4M | $23M | $13M | $12M | $3M | $8M | $4M | |
| Pretax Income | $808M | $695M | $486M | $385M | $387M | $396M | $541M | $604M | $576M | $550M | $561M | $497M | |
| Income Tax | $116M | $129M | $91M | $63M | $56M | $89M | $113M | $150M | $155M | $184M | $196M | $186M | |
| Net Income | $692M | $567M | $395M | $322M | $331M | $307M | $428M | $454M | $421M | $366M | $365M | $311M | |
| EPS (Basic) | $11.96 | $9.65 | $6.59 | $5.34 | $5.46 | $5.05 | $7.12 | $7.41 | $6.56 | $5.43 | $5.07 | $4.13 | |
| EPS (Diluted) | $11.80 | $9.55 | $6.55 | $5.27 | $5.34 | $5.01 | $7.08 | $7.32 | $6.50 | $5.38 | $5.03 | $4.09 | |
| Shares (Basic) | 57,904,000 | 58,720,000 | 59,909,000 | 60,274,000 | 60,707,000 | 60,911,000 | 60,044,000 | 61,262,000 | 64,173,000 | 67,433,000 | 71,944,000 | 75,395,000 | |
| Shares (Diluted) | 58,684,000 | 59,359,000 | 60,270,000 | 61,097,000 | 62,057,000 | 61,378,000 | 60,456,000 | 62,013,000 | 64,775,000 | 67,984,000 | 72,547,000 | 76,092,000 | |
| EBITDA | $858M | $766M | $585M | $519M | $509M | $488M | $587M | $650M | $625M | $604M | $605M | $540M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.34B | $1.07B | $797M | $758M | $581M | $850M | $599M | $425M | $673M | $515M | $390M | $282M | |
| Short-term Investments | $0 | $0 | $6M | $127M | $330M | $360M | $373M | $615M | $344M | $368M | $384M | $364M | |
| Receivables | $414M | $389M | $455M | $470M | $341M | $296M | $322M | $295M | $292M | $268M | $279M | $242M | |
| Inventory | $77M | $76M | $36M | $68M | $22M | $28M | $34M | $31M | $30M | $34M | $34M | $24M | |
| Prepaid Expense | $86M | $93M | $85M | $57M | $60M | $47M | $49M | $40M | · | · | · | · | |
| Other Current Assets | $683M | $569M | $555M | $489M | $338M | $260M | $183M | $52M | $68M | $53M | $51M | $44M | |
| Current Assets | $2.52B | $2.11B | $1.85B | $1.91B | $1.61B | $1.79B | $1.51B | $1.42B | $1.41B | $1.29B | $1.19B | $999M | |
| PP&E (Net) | $157M | $151M | $170M | $168M | $191M | $229M | $223M | $145M | $122M | $123M | $96M | $67M | |
| PP&E (Gross) | $537M | $510M | $497M | $470M | $481M | $469M | $418M | $334M | $298M | $270M | $226M | $186M | |
| Accum. Depreciation | $380M | $359M | $327M | $301M | $290M | $240M | $195M | $189M | $176M | $147M | $130M | $119M | |
| Goodwill | $2.44B | $2.31B | $2.29B | $2.26B | $2.22B | $1.86B | $1.07B | $556M | $556M | $556M | $556M | $557M | |
| Intangibles | $96M | $112M | $151M | $200M | $237M | $226M | $109M | $31M | $43M | $51M | $59M | $65M | |
| Other Non-current Assets | $552M | $488M | $445M | $516M | $473M | $347M | $204M | $42M | $54M | $60M | $68M | $75M | |
| Total Assets | $6.32B | $5.61B | $5.25B | $5.28B | $5.00B | $4.68B | $3.39B | $2.61B | $2.48B | $2.31B | $2.31B | $2.18B | |
| Accounts Payable | $84M | $68M | $63M | $113M | $62M | $64M | $63M | $58M | $51M | $34M | $51M | $44M | |
| Accrued Liabilities | $315M | $300M | $283M | $310M | $341M | $321M | $236M | $181M | $187M | $178M | $130M | $109M | |
| Current Liabilities | $1.61B | $1.49B | $1.47B | $1.84B | $1.39B | $1.29B | $1.11B | $954M | $935M | $844M | $755M | $637M | |
| Capital Leases | $231M | $216M | $240M | $272M | $297M | $339M | $0 | · | · | · | · | · | |
| Deferred Tax | $2M | $7M | $5M | $3M | $2M | $602.0K | $313.0K | $35.0K | $63.0K | $4M | $901.0K | $4M | |
| Other Non-current Liabilities | $96M | $95M | $83M | $68M | $75M | $60M | $132M | $66M | $45M | $34M | $30M | $23M | |
| Total Liabilities | · | · | · | · | · | · | $1.63B | · | · | · | · | · | |
| Long-term Debt | · | · | · | $350M | $369M | $388M | $0 | · | · | · | · | · | |
| Total Debt | · | · | $0 | $350M | $369M | $388M | · | · | · | · | · | · | |
| Common Stock | $42M | $6M | $24M | $91M | $192M | $305M | $143M | $20M | $18M | $13M | $10M | $16M | |
| Retained Earnings | $3.57B | $3.14B | $2.80B | $2.40B | $2.19B | $1.95B | $1.64B | $1.29B | $1.23B | $1.19B | $1.32B | $1.36B | |
| AOCI | $-18M | $-21M | $-23M | $-26M | $-20M | $-19M | $-19M | $-22M | $-18M | $-13M | $-15M | $-10M | |
| Stockholders' Equity | $3.59B | $3.13B | $2.80B | $2.47B | $2.36B | $2.23B | $1.76B | $1.29B | $1.23B | $1.19B | $1.32B | $1.37B | |
| Liabilities + Equity | $6.32B | $5.61B | $5.25B | $5.28B | $5.00B | $4.68B | $3.39B | $2.61B | $2.48B | $2.31B | $2.31B | $2.18B | |
| Shares Outstanding | 57,684,000 | 58,094,000 | 59,207,000 | 59,860,000 | 60,652,000 | 61,099,000 | 60,367,000 | 60,215,000 | 62,594,000 | 65,315,000 | 70,138,000 | 73,390,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $92M | $107M | $113M | $116M | $115M | $96M | $69M | $59M | $61M | $57M | $53M | $46M | |
| Stock-based Comp | $231M | $219M | $237M | $249M | $243M | $202M | $163M | $158M | $175M | $157M | $146M | $127M | |
| Deferred Tax | $-73M | $-68M | $-109M | $-41M | $-77M | $7M | $7M | $21M | $-3M | $6M | $-12M | $-8M | |
| Amort. of Intangibles | $43M | $24M | $29M | $36M | $49M | $35M | $12M | $11M | $12M | $14M | $13M | $10M | |
| Restructuring | $25M | $9M | $65M | $8M | $0 | $8M | $0 | $18M | $13M | $0 | $0 | · | |
| Other Non-cash | $6M | $-32M | $18M | $-204M | $32M | $48M | $81M | $69M | $86M | $126M | $133M | $72M | |
| Operating Cash Flow | $950M | $792M | $653M | $443M | $645M | $661M | $748M | $761M | $740M | $712M | $685M | $549M | |
| CapEx | $43M | $30M | $54M | $34M | $31M | $60M | $104M | $53M | $39M | $63M | $60M | $23M | |
| Investing Cash Flow | $-219M | $-59M | $36M | $218M | $-445M | $-747M | $-415M | $-456M | $-32M | $63M | $-11M | $151M | |
| Debt Issued | · | · | · | $0 | $0 | $400M | $0 | $0 | · | · | · | · | |
| Net Debt Issued | $0 | $0 | $-350M | $-20M | $-20M | $390M | · | · | · | · | · | · | |
| Stock Repurchased | $502M | $501M | $350M | $500M | $500M | $100M | $201M | $600M | $600M | $700M | $607M | $651M | |
| Net Stock Activity | $-502M | $-501M | $-350M | $-500M | $-500M | $-100M | $-201M | $-600M | $-600M | $-700M | $-607M | $-651M | |
| Financing Cash Flow | $-465M | $-457M | $-653M | $-477M | $-468M | $337M | $-155M | $-551M | $-546M | $-653M | $-557M | $-605M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | · | · | $95M | |
| Taxes Paid | $206M | $182M | $192M | $110M | $99M | $80M | $101M | $105M | $163M | $164M | $189M | $169M | |
| Free Cash Flow | $906M | $762M | $599M | $409M | $615M | $601M | $644M | $708M | $702M | $648M | $624M | $526M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.4% | 80.2% | 78.9% | 80.0% | 81.1% | 82.7% | 84.1% | 83.3% | 83.1% | 83.1% | 82.7% | 82.1% | |
| Operating Margin | 24.8% | 23.4% | 16.8% | 15.0% | 15.1% | 16.7% | 23.1% | 27.3% | 27.0% | 27.4% | 28.8% | 28.5% | |
| Net Margin | 22.4% | 20.1% | 14.0% | 11.9% | 12.7% | 13.1% | 19.1% | 21.0% | 20.1% | 18.3% | 19.0% | 18.0% | |
| Pretax Margin | 26.2% | 24.7% | 17.3% | 14.3% | 14.9% | 16.9% | 24.1% | 27.9% | 27.5% | 27.6% | 29.2% | 28.7% | |
| EBITDA Margin | 27.8% | 27.2% | 20.8% | 19.3% | 19.6% | 20.8% | 26.2% | 30.1% | 29.9% | 30.3% | 31.5% | 31.2% | |
| ROA | 11.6% | 10.4% | 7.5% | 6.3% | 6.9% | 7.6% | 14.3% | 17.8% | 17.6% | 15.8% | 16.2% | 14.1% | |
| ROE | 20.1% | 18.5% | 14.5% | 13.5% | 14.5% | 14.0% | 25.3% | 35.6% | 34.8% | 29.2% | 27.2% | 21.4% | |
| ROIC | 18.3% | 17.2% | 13.7% | 12.0% | 12.4% | 11.6% | 23.3% | 34.5% | 33.5% | 30.7% | 27.3% | 22.6% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.4 | 1.3 | 1.0 | 1.2 | 1.4 | 1.4 | 1.5 | 1.6 | 1.5 | 1.6 | 1.6 | |
| Quick Ratio | 1.1 | 1.0 | 0.9 | 0.7 | 0.9 | 1.2 | 1.2 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | |
| Debt / Equity | · | · | 0.0 | 0.1 | 0.2 | 0.2 | · | · | · | · | · | · | |
| LT Debt / Equity | · | · | · | 0.0 | 0.1 | 0.2 | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | 0.9 | 0.9 | 0.9 | 0.9 | 0.8 | |
| Inventory Turnover | 7.5 | 9.9 | 11.4 | 11.9 | 19.7 | 13.1 | 11.0 | 12.0 | 11.1 | 10.0 | 11.4 | 14.3 | |
| Receivables Turnover | 7.7 | 6.7 | 6.1 | 6.7 | 8.2 | 7.6 | 7.3 | 7.4 | 7.5 | 7.3 | 7.4 | 7.8 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $62.27 | $53.87 | $47.30 | $41.25 | $38.91 | $36.54 | $29.18 | $21.35 | $19.64 | $18.15 | $18.77 | $18.66 | |
| Revenue / Share | $52.62 | $47.44 | $46.68 | $44.12 | $41.95 | $38.30 | $37.09 | $34.85 | $32.27 | $29.35 | $26.46 | $22.76 | |
| Cash Flow / Share | $16.18 | $13.35 | $10.84 | $7.24 | $10.40 | $10.77 | $12.37 | $12.27 | $11.43 | $10.47 | $9.44 | $7.21 | |
| Cash / Share | $23.30 | $18.50 | $13.46 | $12.66 | $9.58 | $13.90 | $9.93 | $7.05 | $10.76 | $7.88 | $5.57 | $3.84 | |
| EPS (TTM) | $11.80 | $9.55 | $6.55 | $5.27 | $5.34 | $5.01 | $7.08 | $7.32 | $6.50 | $5.38 | $5.03 | $4.09 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 9.7% | 0.10% | 4.3% | 3.5% | 10.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 4.6% | 2.6% | 6.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 23.6% | 45.8% | 24.3% | -1.3% | 6.6% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 30.8% | 21.4% | 9.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 18.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 22.2% | 43.5% | 22.6% | -2.7% | 7.7% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 29.0% | 19.6% | 8.7% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 17.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.09B | $2.82B | $2.81B | $2.70B | $2.60B | $2.35B | $2.24B | $2.16B | $2.09B | $2.00B | $1.92B | $1.73B | |
| Net Income TTM | $692M | $567M | $395M | $322M | $331M | $307M | $428M | $454M | $421M | $366M | $365M | $311M | |
| Market Cap | $18.64B | $12.79B | $9.54B | $8.66B | $12.06B | $7.50B | $8.48B | $12.01B | $7.55B | $8.14B | $8.12B | $8.71B | |
| Enterprise Value | · | · | $8.74B | $8.13B | $11.51B | $6.68B | · | · | · | · | · | · | |
| P/E | 27.4 | 23.1 | 24.6 | 27.5 | 37.2 | 24.5 | 19.8 | 27.2 | 18.5 | 23.2 | 23.0 | 29.0 | |
| P/S | 6.0 | 4.5 | 3.4 | 3.2 | 4.6 | 3.2 | 3.8 | 5.6 | 3.6 | 4.1 | 4.2 | 5.0 | |
| P/B | 5.2 | 4.1 | 3.4 | 3.5 | 5.1 | 3.4 | 4.8 | 9.3 | 6.1 | 6.9 | 6.2 | 6.4 | |
| P / Tangible Book | 17.7 | 18.1 | 26.5 | 920.9 | · | 50.9 | · | · | · | · | · | · | |
| P / Cash Flow | 19.6 | 16.1 | 14.6 | 19.6 | 18.7 | 11.3 | 11.3 | 15.8 | 10.2 | 11.4 | 11.9 | 15.9 | |
| P / FCF | 20.6 | 16.8 | 15.9 | 21.2 | 19.6 | 12.5 | 13.2 | 17.0 | 10.8 | 12.6 | 13.0 | 16.6 | |
| EV / EBITDA | · | · | 14.9 | 15.7 | 22.6 | 13.7 | · | · | · | · | · | · | |
| EV / FCF | · | · | 14.6 | 19.9 | 18.7 | 11.1 | · | · | · | · | · | · | |
| EV / Revenue | · | · | 3.1 | 3.0 | 4.4 | 2.8 | · | · | · | · | · | · | |
| Earnings Yield | 3.6% | 4.3% | 4.1% | 3.6% | 2.7% | 4.1% | 5.0% | 3.7% | 5.4% | 4.3% | 4.3% | 3.4% |
Income Statement
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $865M | $812M | $822M | $810M | $780M | $731M | $766M | $747M | $695M | $681M | $693M | $707M | $703M | $703M | $700M | $700M | |
| Cost of Revenue | $154M | $151M | $152M | $144M | $149M | $141M | $141M | $144M | $136M | $141M | $136M | $141M | $142M | $156M | $155M | $147M | |
| Gross Profit | $712M | $661M | $671M | $666M | $632M | $590M | $626M | $603M | $559M | $540M | $556M | $566M | $561M | $548M | $545M | $553M | |
| R&D Expense | $165M | $151M | $141M | $136M | $136M | $137M | $131M | $124M | $124M | $122M | $120M | $128M | $129M | $141M | $142M | $139M | |
| SG&A Expense | $96M | $92M | $91M | $94M | $79M | $77M | $73M | $71M | $66M | $67M | $65M | $62M | $65M | $67M | $70M | $70M | |
| Operating Expenses | $498M | $482M | $456M | $461M | $435M | $431M | $421M | $412M | $396M | $400M | $392M | $394M | $457M | $441M | $454M | $445M | |
| Operating Income | $213M | $179M | $214M | $206M | $196M | $159M | $205M | $191M | $163M | $140M | $165M | $172M | $104M | $106M | $91M | $108M | |
| Other Non-op | $13M | $10M | $9M | $9M | $17M | $12M | $4M | $12M | $9M | $6M | $10M | $3M | $3M | $3M | $5M | $-8M | |
| Pretax Income | $226M | $189M | $223M | $215M | $213M | $171M | $209M | $204M | $172M | $146M | $174M | $175M | $106M | $109M | $96M | $100M | |
| Income Tax | $18M | $41M | $43M | $25M | $23M | $26M | $43M | $38M | $28M | $27M | $36M | $23M | $17M | $27M | $24M | $10M | |
| Net Income | $208M | $148M | $180M | $190M | $190M | $146M | $166M | $165M | $144M | $119M | $138M | $152M | $89M | $81M | $72M | $89M | |
| EPS (Basic) | $3.67 | $2.61 | $3.12 | $3.31 | $3.29 | $2.51 | $2.85 | $2.83 | $2.46 | $2.02 | $2.34 | $2.56 | $1.48 | $1.35 | $1.20 | $1.49 | |
| EPS (Diluted) | $3.62 | $2.58 | $3.10 | $3.25 | $3.25 | $2.48 | $2.82 | $2.79 | $2.44 | $2.00 | $2.32 | $2.53 | $1.48 | $1.34 | $1.20 | $1.47 | |
| Shares (Basic) | 56,726,000 | 56,708,000 | 57,650,000 | · | 57,772,000 | 57,886,000 | 58,305,000 | · | 58,584,000 | 58,788,000 | 59,122,000 | · | 59,977,000 | 60,330,000 | 60,096,000 | · | |
| Shares (Diluted) | 57,550,000 | 57,298,000 | 58,164,000 | · | 58,492,000 | 58,764,000 | 59,058,000 | · | 59,147,000 | 59,580,000 | 59,653,000 | · | 60,314,000 | 60,691,000 | 60,387,000 | · | |
| EBITDA | $213M | $179M | $239M | · | $196M | $159M | $228M | · | $163M | $140M | $194M | · | $104M | $106M | $119M | · |
Balance Sheet
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.61B | $1.44B | $1.20B | $1.34B | $1.43B | $1.26B | $1.15B | $1.07B | $935M | $903M | $823M | · | $677M | $735M | $606M | · | |
| Short-term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $812.0K | $802.0K | $3M | · | $13M | $21M | $54M | · | |
| Receivables | $429M | $426M | $494M | $414M | $360M | $380M | $485M | $389M | $420M | $388M | $513M | · | $440M | $486M | $485M | · | |
| Inventory | $127M | $90M | $80M | $77M | $67M | $68M | $73M | $76M | $79M | $70M | $36M | · | $46M | $51M | $59M | · | |
| Prepaid Expense | $119M | $132M | $145M | $86M | $89M | $99M | $113M | $93M | $98M | $117M | $118M | · | $77M | $87M | $75M | · | |
| Other Current Assets | $786M | $744M | $742M | $683M | $631M | $629M | $633M | $569M | $552M | $590M | $587M | · | $538M | $534M | $510M | · | |
| Current Assets | $2.95B | $2.70B | $2.52B | $2.52B | $2.49B | $2.34B | $2.34B | $2.11B | $1.99B | $1.95B | $1.96B | · | $1.71B | $1.83B | $1.71B | · | |
| PP&E (Net) | $197M | $175M | $157M | $157M | $152M | $149M | $150M | $151M | $154M | $162M | $167M | · | $171M | $170M | $168M | · | |
| PP&E (Gross) | · | · | · | $537M | · | · | · | $510M | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | · | $380M | · | · | · | $359M | · | · | · | · | · | · | · | · | |
| Goodwill | $2.48B | $2.44B | $2.44B | $2.44B | $2.32B | $2.32B | $2.31B | $2.31B | $2.31B | $2.31B | $2.29B | $2.29B | $2.29B | $2.29B | $2.26B | $2.26B | |
| Intangibles | $70M | $72M | $84M | $96M | $88M | $93M | $101M | $112M | $122M | $132M | $136M | · | $164M | $178M | $187M | · | |
| Other Non-current Assets | $515M | $503M | $510M | $552M | $524M | $493M | $509M | $488M | $426M | $439M | $426M | · | $464M | $484M | $504M | · | |
| Total Assets | $6.83B | $6.50B | $6.29B | $6.32B | $6.11B | $5.91B | $5.90B | $5.61B | $5.41B | $5.38B | $5.35B | · | $5.12B | $5.22B | $5.09B | · | |
| Accounts Payable | $136M | $80M | $61M | $84M | $69M | $44M | $54M | $68M | $54M | $58M | $60M | · | $65M | $70M | $72M | · | |
| Accrued Liabilities | $344M | $329M | $305M | $315M | $281M | $280M | $316M | $300M | $260M | $267M | $279M | · | $274M | $296M | $331M | · | |
| Current Liabilities | $1.77B | $1.68B | $1.62B | $1.61B | $1.55B | $1.52B | $1.59B | $1.49B | $1.46B | $1.50B | $1.52B | · | $1.49B | $1.53B | $1.53B | · | |
| Capital Leases | $219M | $227M | $235M | $231M | $229M | $237M | $243M | $216M | $222M | $228M | $235M | · | $250M | $260M | $268M | · | |
| Deferred Tax | $2M | $2M | $2M | $2M | $9M | $8M | $8M | $7M | $6M | $6M | $5M | · | $4M | $3M | $3M | · | |
| Other Non-current Liabilities | $79M | $92M | $89M | $96M | $97M | $102M | $98M | $95M | $89M | $81M | $79M | · | $77M | $73M | $70M | · | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | · | |
| Common Stock | $51M | $53M | $6M | $42M | $41M | $40M | $9M | $6M | $18M | $19M | $18M | · | $33M | $191M | $129M | · | |
| Retained Earnings | $3.82B | $3.62B | $3.55B | $3.57B | $3.45B | $3.30B | $3.25B | $3.14B | $3.02B | $2.94B | $2.86B | · | $2.65B | $2.56B | $2.48B | · | |
| AOCI | $-19M | $-19M | $-18M | $-18M | $-19M | $-22M | $-24M | $-21M | $-22M | $-21M | $-21M | · | $-22M | $-23M | $-23M | · | |
| Stockholders' Equity | $3.86B | $3.65B | $3.54B | $3.59B | $3.47B | $3.31B | $3.24B | $3.13B | $3.01B | $2.93B | $2.86B | $2.80B | $2.66B | $2.73B | $2.58B | $2.47B | |
| Liabilities + Equity | $6.83B | $6.50B | $6.29B | $6.32B | $6.11B | $5.91B | $5.90B | $5.61B | $5.41B | $5.38B | $5.35B | · | $5.12B | $5.22B | $5.09B | · | |
| Shares Outstanding | 56,826,000 | 56,753,000 | 56,887,000 | 57,684,000 | 57,867,000 | 57,919,000 | 58,132,000 | 58,094,000 | 58,284,000 | 58,609,000 | 58,797,000 | 59,207,000 | 59,296,000 | 60,465,000 | 60,117,000 | 59,860,000 |
Cash Flow
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $23M | $25M | $25M | $25M | $22M | $22M | $23M | $23M | $27M | $28M | $29M | $30M | $28M | $27M | $27M | $27M | |
| Stock-based Comp | $66M | $68M | $60M | $57M | $57M | $59M | $58M | $54M | $54M | $55M | $56M | $53M | $56M | $64M | $63M | $59M | |
| Restructuring | · | · | · | $14M | $0 | $0 | $11M | $0 | $93.0K | $90.0K | $8M | $0 | $57M | $0 | $9M | $9.0K | |
| Other Non-cash | · | · | $-105M | · | · | · | $-44M | · | · | · | $-58M | · | · | · | $-5M | · | |
| Operating Cash Flow | $316M | $366M | $159M | $208M | $282M | $257M | $203M | $247M | $159M | $222M | $165M | $190M | $165M | $141M | $158M | $154M | |
| CapEx | $36M | $18M | $10M | $16M | $9M | $11M | $8M | $6M | $6M | $9M | $9M | $15M | $15M | $11M | $13M | $9M | |
| Investing Cash Flow | $-85M | $-19M | $-11M | $-164M | $-25M | $-21M | $-10M | $-6M | $-6M | $-40M | $-7M | $-8M | $-8M | $-10M | $62M | $71M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-350M | · | |
| Stock Repurchased | $100M | · | · | $125M | $125M | · | · | $101M | $150M | $100M | $150M | $60M | $250M | $0 | $40M | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $-150M | · | · | · | $-40M | · | |
| Financing Cash Flow | $-68M | $-103M | $-293M | $-127M | $-93M | $-130M | $-115M | $-102M | $-119M | $-101M | $-135M | $-61M | $-215M | $-3M | $-375M | $-6M | |
| Free Cash Flow | · | · | $149M | · | · | · | $195M | · | · | · | $156M | · | · | · | $145M | · |
Profitability
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.2% | 81.4% | 81.5% | · | 81.0% | 80.7% | 81.7% | · | 80.4% | 79.3% | 80.3% | · | 79.8% | 77.9% | 77.9% | · | |
| Operating Margin | 24.6% | 22.1% | 26.0% | · | 25.2% | 21.7% | 26.8% | · | 23.4% | 20.5% | 23.8% | · | 14.7% | 15.1% | 13.0% | · | |
| Net Margin | 24.1% | 18.2% | 21.9% | · | 24.3% | 19.9% | 21.7% | · | 20.7% | 17.5% | 20.0% | · | 12.7% | 11.6% | 10.3% | · | |
| Pretax Margin | 26.2% | 23.3% | 27.1% | · | 27.3% | 23.4% | 27.3% | · | 24.7% | 21.4% | 25.2% | · | 15.2% | 15.5% | 13.7% | · | |
| EBITDA Margin | 24.6% | 22.1% | 29.0% | · | 25.2% | 21.7% | 29.7% | · | 23.4% | 20.5% | 28.0% | · | 14.7% | 15.1% | 17.0% | · | |
| ROA | 3.2% | 2.4% | 2.9% | · | 3.3% | 2.6% | 3.0% | · | 2.7% | 2.2% | 2.6% | · | 1.8% | 1.6% | 1.4% | · | |
| ROE | 5.7% | 4.2% | 5.3% | · | 5.9% | 4.7% | 5.5% | · | 5.1% | 4.2% | 5.1% | · | 3.6% | 3.2% | 2.9% | · | |
| ROIC | 5.1% | 3.8% | 4.9% | · | 5.0% | 4.1% | 5.1% | · | 4.5% | 3.9% | 4.6% | · | 3.3% | 2.9% | 2.7% | · |
Liquidity & Solvency
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.6 | 1.6 | · | 1.6 | 1.5 | 1.5 | · | 1.4 | 1.3 | 1.3 | · | 1.2 | 1.2 | 1.1 | · | |
| Quick Ratio | 1.1 | 1.1 | 1.0 | · | 1.2 | 1.1 | 1.0 | · | 0.9 | 0.9 | 0.9 | · | 0.8 | 0.8 | 0.7 | · | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | · |
Efficiency
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | |
| Inventory Turnover | 1.6 | 1.9 | 2.0 | · | 2.0 | 2.0 | 2.6 | · | 2.2 | 2.3 | 2.9 | · | 3.2 | 4.0 | 3.9 | · | |
| Receivables Turnover | 2.2 | 2.0 | 1.7 | · | 2.0 | 1.9 | 1.5 | · | 1.6 | 1.6 | 1.4 | · | 1.6 | 1.6 | 1.5 | · |
Per Share
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $67.85 | $64.31 | $62.20 | · | $59.99 | $57.22 | $55.66 | · | $51.66 | $50.05 | $48.66 | · | $44.82 | $45.08 | $42.96 | · | |
| Revenue / Share | $15.03 | $14.17 | $14.14 | · | $13.34 | $12.44 | $12.98 | · | $11.76 | $11.44 | $11.61 | · | $11.65 | $11.59 | $11.60 | · | |
| Cash Flow / Share | · | · | $2.74 | · | · | · | $3.43 | · | · | · | $2.77 | · | · | · | $2.61 | · | |
| Cash / Share | $28.26 | $25.42 | $21.09 | · | $24.66 | $21.74 | $19.80 | · | $16.04 | $15.40 | $13.99 | · | $11.43 | $12.15 | $10.08 | · | |
| EPS (TTM) | $12.55 | $12.18 | $12.08 | · | $11.34 | $10.53 | $10.05 | · | $9.29 | $8.33 | $7.67 | · | $5.49 | $5.38 | $4.96 | · |
Valuation (TTM)
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.31B | $3.22B | $3.14B | · | $3.02B | $2.94B | $2.89B | · | $2.78B | $2.78B | $2.81B | · | $2.81B | $2.78B | $2.71B | · | |
| Net Income TTM | $727M | $708M | $706M | · | $667M | $621M | $595M | · | $554M | $499M | $461M | · | $332M | $326M | $301M | · | |
| Market Cap | $23.64B | $16.42B | $14.52B | · | $17.03B | $15.42B | $14.62B | · | $10.04B | $11.11B | $10.52B | · | $8.67B | $8.81B | $8.63B | · | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | $7.98B | $8.05B | $7.97B | · | |
| P/E | 33.1 | 23.8 | 21.1 | · | 26.0 | 25.3 | 25.0 | · | 18.5 | 22.8 | 23.3 | · | 26.6 | 27.1 | 28.9 | · | |
| P/S | 7.1 | 5.1 | 4.6 | · | 5.6 | 5.2 | 5.1 | · | 3.6 | 4.0 | 3.8 | · | 3.1 | 3.2 | 3.2 | · | |
| P/B | 6.1 | 4.5 | 4.1 | · | 4.9 | 4.7 | 4.5 | · | 3.3 | 3.8 | 3.7 | · | 3.3 | 3.2 | 3.3 | · | |
| P / Tangible Book | 18.1 | 14.5 | 14.4 | · | 16.1 | 17.1 | 17.8 | · | 17.4 | 22.7 | 24.1 | · | 42.3 | 34.0 | 63.6 | · | |
| P / Cash Flow | · | · | 91.2 | · | · | · | 72.1 | · | · | · | 63.7 | · | · | · | 54.7 | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | 2.8 | 2.9 | 2.9 | · | |
| Earnings Yield | 3.0% | 4.2% | 4.7% | · | 3.9% | 4.0% | 4.0% | · | 5.4% | 4.4% | 4.3% | · | 3.8% | 3.7% | 3.5% | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Revenue | $3.09B | $2.82B | $2.81B | $2.70B | $2.60B |
| Gross Margin % | 81.4% | 80.2% | 78.9% | 80.0% | 81.1% |
| Operating Margin % | 24.8% | 23.4% | 16.8% | 15.0% | 15.1% |
| Net Income | $692M | $567M | $395M | $322M | $331M |
| Diluted EPS | $11.80 | $9.55 | $6.55 | $5.27 | $5.34 |
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | 0.0 | 0.1 | 0.2 |
| Current Ratio | 1.6 | 1.4 | 1.3 | 1.0 | 1.2 |
| Quick Ratio | 1.1 | 1.0 | 0.9 | 0.7 | 0.9 |
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Free Cash Flow | $906M | $762M | $599M | $409M | $615M |
Institutional owners (13F) 885 filers · $23.9B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 175 (+35 vs prior Q) | 59 (-4 vs prior Q) | 312 (+56 vs prior Q) | 244 (+8 vs prior Q) | -360K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $2,611,637,129 | 6,278,577 | 10.91% | Shares |
| VANGUARD GROUP INC | $1,878,022,611 | 7,357,293 | 7.85% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,533,767,228 | 3,687,295 | 6.41% | Shares |
| STATE STREET CORP | $1,288,855,804 | 3,098,509 | 5.38% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,168,028,159 | 2,808,030 | 4.88% | Shares |
| Jericho Capital Asset Management L.P. | $881,314,834 | 2,118,749 | 3.68% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $857,532,321 | 2,061,574 | 3.58% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $740,798,207 | 1,779,100 | 3.09% | Shares |
| FIRST TRUST ADVISORS LP | $640,664,339 | 1,540,207 | 2.68% | Shares |
| Invesco Ltd. | $576,137,040 | 1,385,078 | 2.41% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $385,025,872 | 925,632 | 1.61% | Shares |
| LYRICAL ASSET MANAGEMENT LP | $383,451,894 | 921,848 | 1.60% | Shares |
| JANE STREET GROUP, LLC | $368,312,197 | 885,451 | 1.54% | Shares |
| MORGAN STANLEY | $347,526,691 | 835,480 | 1.45% | Shares |
| NORGES BANK | $347,127,355 | 834,521 | 1.45% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $318,161,565 | 764,885 | 1.33% | Shares |
| NORTHERN TRUST CORP | $307,377,801 | 738,960 | 1.28% | Shares |
| AMERIPRISE FINANCIAL INC | $289,329,463 | 695,442 | 1.21% | Shares |
| JPMORGAN CHASE & CO | $286,737,612 | 698,405 | 1.20% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $265,102,156 | 637,365 | 1.11% | Shares |
| Robeco Institutional Asset Management B.V. | $245,868,967 | 591,088 | 1.03% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $243,865,285 | 586,271 | 1.02% | Shares |
| Amundi | $231,194,313 | 555,809 | 0.97% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $213,839,628 | 514,087 | 0.89% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $210,837,644 | 506,870 | 0.88% | Shares |
| ALLIANCEBERNSTEIN L.P. | $209,380,598 | 723,674 | 0.87% | Shares |
| HSBC HOLDINGS PLC | $208,277,147 | 499,823 | 0.87% | Shares |
| Legal & General Group Plc | $205,453,041 | 493,925 | 0.86% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $175,813,813 | 422,670 | 0.73% | Shares |
| DEUTSCHE BANK AG\ | $172,297,288 | 414,216 | 0.72% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $168,479,753 | 582,310 | 0.70% | Shares |
| Pictet Asset Management Holding SA | $166,435,274 | 400,244 | 0.70% | Shares |
| MILLENNIUM MANAGEMENT LLC | $154,188,885 | 370,682 | 0.64% | Shares |
| Bank of New York Mellon Corp | $154,006,793 | 370,244 | 0.64% | Shares |
| GOLDMAN SACHS GROUP INC | $151,272,788 | 363,671 | 0.63% | Shares |
| Quantinno Capital Management LP | $131,738,666 | 316,709 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $131,727,461 | 316,683 | 0.55% | Shares |
| CITIGROUP INC | $130,140,574 | 312,868 | 0.54% | Shares |
| UBS Group AG | $127,599,058 | 306,758 | 0.53% | Shares |
| FMR LLC | $121,734,379 | 292,659 | 0.51% | Shares |
| Nuveen, LLC | $111,572,535 | 268,229 | 0.47% | Shares |
| AMERICAN CENTURY COMPANIES INC | $109,571,237 | 263,416 | 0.46% | Shares |
| Point72 Asset Management, L.P. | $100,714,315 | 242,125 | 0.42% | Shares |
| SEI INVESTMENTS CO | $95,573,471 | 229,764 | 0.40% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $94,207,453 | 226,482 | 0.39% | Shares |
| Swedbank AB | $87,054,606 | 209,286 | 0.36% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $82,064,748 | 197,290 | 0.34% | Shares |
| Allianz Asset Management GmbH | $75,348,658 | 181,144 | 0.31% | Shares |
| Boston Trust Walden Corp | $73,782,985 | 177,380 | 0.31% | Shares |
| BANK OF AMERICA CORP /DE/ | $70,355,474 | 169,140 | 0.29% | Shares |
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person | June 30, 2003 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | May 7, 2003 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Oct. 19, 2001 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 9, 2001 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 1, 2001 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 67 insiders · 39 officers · 27 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Francois Locoh-Donou | President, CEO & Director | Aug. 5, 2026 S | 146,989 | 0 | 27 | $-5,538,033 |
| Manuel Felix Rivelo | President & CEO | Nov. 1, 2015 M | 17,414 | 0 | 0 | $0 |
| Edward Cooper Werner | Chief Financial Officer | Aug. 1, 2026 M | 406 | 0 | 10 | $-2,534,677 |
| Francis J. Pelzer | EVP, Chief Financial Officer | Nov. 1, 2024 M | 37,995 | 0 | 0 | $0 |
| Andrew Reinland | EVP, Chief Financial Officer | May 1, 2018 M | 515 | 0 | 0 | $0 |
| Steve Coburn | Sr. VP of Finance and CFO | June 1, 2005 M | 0 | 0 | 0 | $0 |
| John Anthony Maddison | Chief Product Mkting Officer | Sept. 14, 2026 S | 1,149 | 0 | 4 | $-1,091,713 |
| Michael F Montoya | Chief Technology Ops Officer | Sept. 14, 2026 S | 1,309 | 0 | 7 | $-1,815,377 |
| Angelique M Okeke | EVP, General Counsel | Sept. 1, 2026 A | 2,240 | 0 | 3 | $-587,146 |
| Thomas Dean Fountain | EVP Global Services & Strategy | Aug. 5, 2026 S | 8,060 | 0 | 19 | $-7,054,129 |
| Catherine A Peterman | Chief People Officer | Aug. 3, 2026 A | · | 0 | 0 | $0 |
| Kunal Anand | Chief Technology Officer | Aug. 1, 2026 M | 12,586 | 0 | 3 | $-1,270,179 |
| Chad Michael Whalen | EVP, Worldwide Sales | Aug. 1, 2026 M | 21,536 | 0 | 9 | $-5,235,732 |
| Lyra Amber Schramm | Chief People Officer | Feb. 3, 2026 S | 177 | 0 | 2 | $-318,275 |
| Scot Frazier Rogers | EVP and General Counsel | Feb. 26, 2025 S | 20,075 | 0 | 0 | $0 |
| Kara Lynn Sprague | EVP & GM, Application Services | Nov. 1, 2024 M | 71,444 | 0 | 0 | $0 |
| Mika Yamamoto | EVP, Chief Marketing Officer | Nov. 1, 2023 M | 17,271 | 0 | 0 | $0 |
| Ana Maria White | EVP and Chief People Officer | Aug. 14, 2023 S | 38,656 | 0 | 0 | $0 |
| Geng Lin | EVP, Chief Technology Officer | Aug. 1, 2023 M | 13,946 | 0 | 0 | $0 |
| Haiyan Song | EVP of Security | Feb. 1, 2023 M | 6,460 | 0 | 0 | $0 |
| Derek Winslow Smith | SVP & GM of Shape Security | Feb. 1, 2021 M | 2,780 | 0 | 0 | $0 |
| Stephen Mcmillan | EVP of Global Services | May 1, 2020 S | 8,291 | 0 | 0 | $0 |
| Ryan C. Kearny | CTO & SVP, Product Development | May 1, 2019 M | 7,153 | 0 | 0 | $0 |
| John D Dilullo | EVP, Worldwide Sales | May 3, 2018 M | 8,800 | 0 | 0 | $0 |
| Ram Gopal Krishnan | Sr. VP, GM of Security | Feb. 1, 2018 A | · | 0 | 0 | $0 |
| Edward Julian Eames | EVP, Chief Operations Officer | Nov. 8, 2017 S | 12,999 | 0 | 0 | $0 |
| Benjamin Gibson | EVP, Chief Marketing Officer | Nov. 2, 2017 S | 1,651 | 0 | 0 | $0 |
| Karl D Triebes | EVP, Product Development & CTO | Aug. 1, 2016 M | 10,746 | 0 | 0 | $0 |
| Thomas David Feringa | EVP, World Wide Sales | Aug. 1, 2015 M | 8,787 | 0 | 0 | $0 |
| Jeffrey A Christianson | EVP and General Counsel | Aug. 1, 2013 M | 21,905 | 0 | 0 | $0 |
| Dan Matte | EVP of Marketing | May 17, 2013 M | 24,638 | 0 | 0 | $0 |
| John Edward Rodriguez | EVP, Chief Accounting Officer | Feb. 1, 2013 M | 11,064 | 0 | 0 | $0 |
| Mark Anderson | EVP, Worldwide Sales | May 1, 2012 M | 10,767 | 0 | 0 | $0 |
| Christopher P. Lynch | SrVP Data Solutions | Nov. 7, 2008 S | 10,835 | 0 | 0 | $0 |
| Thomas M Hull | Sr. VP Worldwide Sales | Nov. 1, 2007 M | 58,921 | 0 | 0 | $0 |
| Joann Reiter | Sr. VP & General Counsel | Nov. 1, 2006 M | 17,725 | 0 | 0 | $0 |
| Jeff Pancottine | Sr. VP & GM, Security Business | Feb. 1, 2006 M | 238 | 0 | 0 | $0 |
| Jeff Stockdale | Sr. VP of Product Development | Feb. 6, 2004 S | 1,411 | 0 | 0 | $0 |
| Steve Goldman | Sr VP Sales & Services | Aug. 4, 2003 M | 1,860 | 0 | 0 | $0 |
| Nikhil Ramesh Mehta | Director | July 30, 2026 S | 7,043 | 0 | 6 | $-1,555,798 |
| Gavin Munroe | Director | July 1, 2026 A | · | 0 | 0 | $0 |
| Elizabeth Buse | Director | June 10, 2026 S | 4,947 | 0 | 4 | $-399,353 |
| Anand Eswaran | Director | May 1, 2026 A | · | 0 | 0 | $0 |
| Julie Marie Gonzalez | Director | March 12, 2026 A | 1,414 | 0 | 0 | $0 |
| Tami A. Erwin | Director | March 12, 2026 A | 2,842 | 0 | 0 | $0 |
| Michel Combes | Director | March 12, 2026 A | 5,805 | 0 | 0 | $0 |
| Maya Mcreynolds | Director | March 12, 2026 A | 1,414 | 0 | 0 | $0 |
| Marianne Budnik | Director | March 12, 2026 A | 2,141 | 0 | 0 | $0 |
| Michael L Dreyer | Director | March 11, 2026 M | 2,243 | 0 | 1 | $-866,151 |
| Alan Higginson | Director | March 11, 2026 M | 7,774 | 0 | 2 | $-797,569 |
| Peter S Klein | Director | March 13, 2025 A | 13,333 | 0 | 0 | $0 |
| Sripada Shivananda | Director | March 14, 2024 A | 6,172 | 0 | 0 | $0 |
| James Malcolm Phillips JR | Director | March 9, 2023 A | 1,486 | 0 | 0 | $0 |
| Marie Myers | Director | March 9, 2023 A | 5,097 | 0 | 0 | $0 |
| Sandra K Bergeron | Director | March 8, 2023 M | 6,218 | 0 | 0 | $0 |
| Gary A Ames | Director | March 10, 2021 M | 18,417 | 0 | 0 | $0 |
| Deborah L Bevier | Director | March 10, 2021 M | 9,588 | 0 | 0 | $0 |
| John Mcadam | Director | March 11, 2020 M | 12,338 | 0 | 0 | $0 |
| Jonathan Chadwick | Director | March 13, 2019 M | 9,657 | 0 | 0 | $0 |
| Scott Thompson | Director | March 15, 2012 A | 26,530 | 0 | 0 | $0 |
| Karl Guelich | Director | March 14, 2012 M | 10,386 | 0 | 0 | $0 |
| John Chapple | Director | March 14, 2011 A | 2,089 | 0 | 0 | $0 |
| GRINSTEIN KEITH | Director | March 11, 2008 A | 32,412 | 0 | 0 | $0 |
| Rich Malone | Director | March 10, 2008 M | 80,412 | 0 | 0 | $0 |
| Angus James Bruce Robertson | · | Nov. 1, 2021 M | 13,043 | 0 | 0 | $0 |
| Stephen M Smith | · | March 9, 2017 A | 9,160 | 0 | 0 | $0 |
| Kristen Dimlow | · | Aug. 1, 2016 M | 11,028 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 138 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FMTM · EA Series Trust | 3.27% | 20,471 NS | July 31, 2026 | N-PORT |
| UPGD · Invesco Exchange-Traded Fund Trust | 2.42% | 6,263 SH | Oct. 2, 2026 | Daily |
| ABFL · Abacus FCF ETF Trust | 2.18% | 28,490 NS | July 31, 2026 | N-PORT |
| QIDX · Spinnaker ETF Series | 2.10% | 2,031 NS | July 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 1.96% | 107,422 NS | July 31, 2026 | N-PORT |
| AMOM · Exchange Listed Funds Trust | 1.48% | 880 NS | July 31, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.41% | 196,239 SH | Oct. 2, 2026 | Daily |
| CZA · Invesco Exchange-Traded Fund Trust | 1.31% | 5,983 SH | Oct. 2, 2026 | Daily |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 1.26% | 33,477 SH | Oct. 2, 2026 | Daily |
| FDND · First Trust Exchange-Traded Fund IV | 0.90% | 217 NS | July 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.88% | 7,183 NS | July 31, 2026 | N-PORT |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.75% | 24,717 NS | July 31, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 0.70% | 7,708 NS | July 31, 2026 | N-PORT |
| PDP · Invesco Exchange-Traded Fund Trust | 0.68% | 22,881 SH | Oct. 2, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.58% | 9,362 NS | July 31, 2026 | N-PORT |
| WEBL · Direxion Shares ETF Trust | 0.58% | 1,350 NS | July 31, 2026 | N-PORT |
| USMV · iShares Trust | 0.56% | 334,065 SH | Sept. 11, 2026 | Daily |
| NULV · Nushares ETF Trust | 0.51% | 27,667 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.50% | 821,424 SH | Aug. 19, 2026 | Daily |
| PABU · iShares Trust | 0.50% | 31,128 SH | Sept. 11, 2026 | Daily |
| ACWV · iShares, Inc. | 0.44% | 36,796 SH | Sept. 11, 2026 | Daily |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.40% | 6,482 NS | July 31, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.39% | 4,556 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.37% | 5,371 NS | July 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.35% | 13,550 NS | July 31, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.32% | 20,448 NS | July 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.31% | 30,191 SH | Sept. 11, 2026 | Daily |
| ACVF · ETF Opportunities Trust | 0.30% | 1,130 NS | July 31, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.29% | 136,620 NS | July 31, 2026 | N-PORT |
| TRFK · Pacer Funds Trust | 0.29% | 6,787 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.28% | 1,294,080 SH | Aug. 19, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.27% | 5,490 NS | July 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.26% | 4,594 NS | July 31, 2026 | N-PORT |
| SUSA · iShares Trust | 0.26% | 25,942 SH | Sept. 11, 2026 | Daily |
| VLUE · iShares Trust | 0.25% | 61,174 SH | Sept. 11, 2026 | Daily |
| KNCT · Invesco Exchange-Traded Fund Trust | 0.25% | 950 SH | Oct. 2, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 49,853 NS | July 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 0.24% | 15,016 NS | July 31, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 14,448 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.22% | 482,705 SH | Oct. 2, 2026 | Daily |
| IWS · iShares Trust | 0.22% | 84,378 SH | Sept. 11, 2026 | Daily |
| ESMV · iShares Trust | 0.22% | 43 SH | Sept. 11, 2026 | Daily |
| EUSA · iShares, Inc. | 0.21% | 10,196 SH | Sept. 11, 2026 | Daily |
| SIZE · iShares Trust | 0.20% | 2,152 SH | Sept. 11, 2026 | Daily |
| EVUS · iShares Trust | 0.20% | 1,891 SH | Sept. 11, 2026 | Daily |
| SPHQ · Invesco Exchange-Traded Fund Trust | 0.17% | 73,849 SH | Oct. 2, 2026 | Daily |
| IWR · iShares Trust | 0.17% | 231,479 SH | Sept. 11, 2026 | Daily |
| MTUM · iShares Trust | 0.16% | 96,015 SH | Sept. 11, 2026 | Daily |
| IMCV · iShares Trust | 0.15% | 4,502 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.15% | 6,423 SH | Sept. 11, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.15% | 73,280 NS | July 31, 2026 | N-PORT |
| IMCG · iShares Trust | 0.15% | 14,886 SH | Sept. 11, 2026 | Daily |
| QUAL · iShares Trust | 0.15% | 171,961 SH | Sept. 11, 2026 | Daily |
| ESGU · iShares Trust | 0.14% | 63,928 SH | Sept. 11, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.14% | 570,650 SH | Aug. 19, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.13% | 50,188 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.13% | 71 SH | Sept. 11, 2026 | Daily |
| QLC · FlexShares Trust | 0.12% | 3,136 NS | July 31, 2026 | N-PORT |
| DFLV · Dimensional ETF Trust | 0.12% | 20,798 NS | July 31, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 1,368 NS | July 31, 2026 | N-PORT |
| IYW · iShares Trust | 0.11% | 70,029 SH | Sept. 11, 2026 | Daily |
| TECL · Direxion Shares ETF Trust | 0.11% | 13,783 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.10% | 26,778 SH | Sept. 11, 2026 | Daily |
| LCOW · Pacer Funds Trust | 0.10% | 63 NS | July 31, 2026 | N-PORT |
| DFVX · Dimensional ETF Trust | 0.10% | 1,245 NS | July 31, 2026 | N-PORT |
| USXF · iShares Trust | 0.09% | 3,364 SH | Sept. 11, 2026 | Daily |
| REVS · Columbia ETF Trust I | 0.08% | 696 NS | July 31, 2026 | N-PORT |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.08% | 8,850 SH | Oct. 2, 2026 | Daily |
| IXN · iShares Trust | 0.08% | 19,408 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.08% | 1,120 NS | July 31, 2026 | N-PORT |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.08% | 12,976 SH | Aug. 19, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.08% | 4,476 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.08% | 93,772 SH | Sept. 11, 2026 | Daily |
| EGLE · Global X Funds | 0.07% | 4 NS | July 31, 2026 | N-PORT |
| TYLG · Global X Funds | 0.07% | 26 NS | July 31, 2026 | N-PORT |
| PALC · Pacer Funds Trust | 0.07% | 377 NS | July 31, 2026 | N-PORT |
| IUSV · iShares Trust | 0.07% | 49,233 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.07% | 1,269 SH | Oct. 2, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.07% | 34,152 SH | Aug. 19, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.07% | 5,645 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.07% | 80,778 NS | July 31, 2026 | N-PORT |
| AQLT · iShares Trust | 0.07% | 551 SH | Sept. 11, 2026 | Daily |
| GLOF · iShares Trust | 0.07% | 329 SH | Sept. 11, 2026 | Daily |
| SUSL · iShares Trust | 0.07% | 1,974 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.06% | 8,623 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.06% | 125,528 SH | Sept. 11, 2026 | Daily |
| RECS · Columbia ETF Trust I | 0.06% | 8,005 NS | July 31, 2026 | N-PORT |
| CRBN · iShares Trust | 0.05% | 1,530 SH | Sept. 11, 2026 | Daily |
| SPTE · SP Funds Trust | 0.05% | 250 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.04% | 13,110 NS | July 31, 2026 | N-PORT |
| USCL · iShares Trust | 0.04% | 3,004 SH | Sept. 11, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.04% | 9,301 SH | Oct. 2, 2026 | Daily |
| TOPC · iShares Trust | 0.04% | 34 SH | Sept. 11, 2026 | Daily |
| VOO · VANGUARD INDEX FUNDS | 0.04% | 1,465,887 SH | Aug. 19, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.04% | 492 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.04% | 12,783 SH | Aug. 19, 2026 | Daily |
| PBP · Invesco Exchange-Traded Fund Trust | 0.04% | 337 SH | Oct. 2, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 836 SH | Oct. 2, 2026 | Daily |
| XYLG · Global X Funds | 0.04% | 61 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.04% | 644 SH | Sept. 11, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.04% | 9,743 SH | Oct. 2, 2026 | Daily |
| XYLD · Global X Funds | 0.04% | 3,036 NS | July 31, 2026 | N-PORT |
| CATH · Global X Funds | 0.04% | 1,217 NS | July 31, 2026 | N-PORT |
| GLBL · Pacer Funds Trust | 0.04% | 1 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.04% | 2,873 NS | July 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.04% | 7 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.03% | 43 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 0.03% | 710,997 SH | Sept. 11, 2026 | Daily |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 7,551 NS | July 31, 2026 | N-PORT |
| ILCG · iShares Trust | 0.03% | 2,640 SH | Sept. 11, 2026 | Daily |
| XCLR · Global X Funds | 0.03% | 3 NS | July 31, 2026 | N-PORT |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.03% | 1,264 SH | Oct. 2, 2026 | Daily |
| XTR · Global X Funds | 0.03% | 4 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.03% | 17,165 NS | July 31, 2026 | N-PORT |
| ILCB · iShares Trust | 0.03% | 1,058 SH | Sept. 11, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.03% | 213 NS | July 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.03% | 39,398 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.03% | 2,448 SH | Sept. 11, 2026 | Daily |
| PHDG · Invesco Actively Managed Exchange-T… | 0.03% | 45 SH | Oct. 2, 2026 | Daily |
| QDPL · Pacer Funds Trust | 0.03% | 1,357 NS | July 31, 2026 | N-PORT |
| ILCV · iShares Trust | 0.03% | 1,068 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.03% | 15,640 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.03% | 73,474 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.03% | 1,791,148 SH | Aug. 19, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.03% | 477 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.03% | 9,290 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 4,782 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.03% | 224 NS | July 31, 2026 | N-PORT |
| LRGF · iShares Trust | 0.03% | 2,709 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.03% | 392 NS | July 31, 2026 | N-PORT |
| SPXL · Direxion Shares ETF Trust | 0.03% | 4,409 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.03% | 155 SH | Sept. 11, 2026 | Daily |
| URTH · iShares, Inc. | 0.03% | 5,138 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.02% | 1,190 NS | July 31, 2026 | N-PORT |
| ACWI · iShares Trust | 0.02% | 18,046 SH | Sept. 11, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.02% | 12 NS | July 31, 2026 | N-PORT |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 48,519 SH | Aug. 19, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.02% | 4,036 SH | Oct. 2, 2026 | Daily |
FFIV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
10 analysts · 2026-10-01Mean target $436.10 -4.0%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FFIV | $18.64B | 27.4 | 9.7% | 22.4% | 20.1% | 81.4% |
| ANET | $164.64B | 47.6 | 28.6% | 39.0% | 30.2% | 64.1% |
| LITE | $72.38B | -8.8 | 83.2% | -230.1% | -252.6% | 41.7% |
| MSI | $63.52B | 30.1 | 8.0% | 18.4% | 104.7% | 51.7% |
| CIEN | $26.78B | 223.4 | 18.8% | 2.6% | 4.5% | 42.0% |
| UI | $32.32B | 33.7 | 27.2% | 29.3% | 78.2% | 46.2% |
| VIAV | $11.76B | -366.4 | 40.0% | -2.0% | -2.7% | 57.7% |
| AAOI | $2.61B | -54.5 | 82.8% | -8.4% | -6.6% | 30.0% |
| VSAT | $6.25B | -183.2 | 2.7% | -0.73% | -0.74% | · |
| ONDS | $3.72B | -15.7 | 605.3% | -260.7% | -57.0% | 39.7% |
| EXTR | $4.25B | 104.4 | 12.6% | 3.3% | 45.7% | 61.5% |
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