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 25,089 - -
Change - -28.1% 10.86% 34.3% 44.66% 35.13% - -
Enterprise Value (EV) 1 11,447 7,736 8,753 11,371 17,222 23,305 22,686 21,956
Change - -32.42% 13.15% 29.9% 51.46% 35.32% -2.66% -3.21%
P/E 37.2x 27.5x 24.6x 23.1x 27.4x 35.4x 32.2x 27.5x
PBR 5.11x 3.51x 3.47x 4.17x 5.23x 6.28x 5.4x 4.58x
PEG - -20.98x 1x 0.5x 1.2x 5.84x 3.2x 1.6x
Capitalization / Revenue 4.6x 3.2x 3.4x 4.56x 6.01x 7.41x 6.89x 6.38x
EV / Revenue 4.39x 2.87x 3.11x 4.04x 5.58x 6.89x 6.23x 5.58x
EV / EBITDA 12.2x 8.65x 9.1x 10.8x 14.6x 18.2x 16.7x 14.6x
EV / EBIT 13.9x 9.94x 10.3x 12x 15.9x 19.6x 18.3x 16x
EV / FCF 18.6x 18.9x 14.6x 14.9x 19x 23.3x 21.2x 18.5x
FCF Yield 5.37% 5.29% 6.85% 6.7% 5.26% 4.3% 4.73% 5.4%
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 2 198.78 144.73 161.14 220.20 323.19 443.06 443.06 443.06
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.15x3.63x12.69x3% 212B
-131.72x18.37x101.87x-.--% 118B
13.08x1.46x7.67x3.67% 108B
13.48x2.45x9.24x6.1% 78.59B
19.72x5.2x12.78x2.88% 58.2B
22.67x1.87x11.67x1.29% 44.4B
13.12x1.89x8x5.94% 42.26B
20.9x1.59x10.12x0.89% 40.58B
98.2x9.76x36.48x-.--% 34.12B
Average 10.18x 5.14x 23.39x 2.64% 81.87B
Weighted average by Cap. -2.05x 5.65x 26.56x 2.75%

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