Company Valuation: F5, Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,989 8,620 9,557 12,834 18,566 23,302 - -
Change - -28.1% 10.86% 34.3% 44.66% 25.5% - -
Enterprise Value (EV) 1 11,447 7,736 8,753 11,371 17,222 21,517 20,898 20,169
Change - -32.42% 13.15% 29.9% 51.46% 24.94% -2.88% -3.49%
P/E 37.2x 27.5x 24.6x 23.1x 27.4x 32.9x 29.9x 25.6x
PBR 5.11x 3.51x 3.47x 4.17x 5.23x 5.83x 5.01x 4.25x
PEG - -20.98x 1x 0.5x 1.2x 5.43x 3x 1.5x
Capitalization / Revenue 4.6x 3.2x 3.4x 4.56x 6.01x 6.89x 6.4x 5.92x
EV / Revenue 4.39x 2.87x 3.11x 4.04x 5.58x 6.36x 5.74x 5.12x
EV / EBITDA 12.2x 8.65x 9.1x 10.8x 14.6x 16.8x 15.4x 13.4x
EV / EBIT 13.9x 9.94x 10.3x 12x 15.9x 18.1x 16.9x 14.7x
EV / FCF 18.6x 18.9x 14.6x 14.9x 19x 21.5x 19.5x 17x
FCF Yield 5.37% 5.29% 6.85% 6.7% 5.26% 4.65% 5.13% 5.88%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 5.34 5.27 6.55 9.55 11.8 12.52 13.77 16.08
Distribution rate - - - - - - - -
Net sales 1 2,605 2,696 2,813 2,816 3,088 3,384 3,643 3,935
EBITDA 1 937.6 893.9 962.4 1,053 1,179 1,282 1,355 1,502
EBIT 1 822.2 778.3 849.7 945.5 1,086 1,191 1,239 1,373
Net income 1 331.2 322.2 394.9 566.8 692.4 728.1 797 921.5
Net Debt 1 -541.6 -884.6 -803.3 -1,464 -1,344 -1,784 -2,403 -3,133
Reference price 2 198.78 144.73 161.14 220.20 323.19 411.49 411.49 411.49
Nbr of stocks (in thousands) 60,312 59,562 59,306 58,284 57,447 56,627 - -
Announcement Date 10/26/21 10/25/22 10/24/23 10/28/24 10/27/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.89x3.87x13.52x2.78% 235B
-129x17.99x99.72x-.--% 117B
13.66x1.51x7.91x3.51% 119B
14.25x2.6x9.8x5.77% 83.08B
19.32x5.13x12.59x2.94% 61.29B
13.6x1.96x8.33x5.73% 43.84B
21.07x1.72x10.72x1.39% 45.18B
19.99x1.5x9.62x0.95% 41.61B
16.65x2.09x9.91x5.25% 34.05B
Average 1.49x 4.26x 20.24x 3.15% 86.69B
Weighted average by Cap. -3.28x 5.16x 24.32x 2.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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