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 25,488 - -
Change - -28.1% 10.86% 34.3% 44.66% 37.28% - -
Enterprise Value (EV) 1 11,447 7,736 8,753 11,371 17,222 23,703 23,084 22,355
Change - -32.42% 13.15% 29.9% 51.46% 37.63% -2.61% -3.16%
P/E 37.2x 27.5x 24.6x 23.1x 27.4x 36x 32.7x 28x
PBR 5.11x 3.51x 3.47x 4.17x 5.23x 6.38x 5.48x 4.65x
PEG - -20.98x 1x 0.5x 1.2x 5.94x 3.3x 1.7x
Capitalization / Revenue 4.6x 3.2x 3.4x 4.56x 6.01x 7.53x 7x 6.48x
EV / Revenue 4.39x 2.87x 3.11x 4.04x 5.58x 7x 6.34x 5.68x
EV / EBITDA 12.2x 8.65x 9.1x 10.8x 14.6x 18.5x 17x 14.9x
EV / EBIT 13.9x 9.94x 10.3x 12x 15.9x 19.9x 18.6x 16.3x
EV / FCF 18.6x 18.9x 14.6x 14.9x 19x 23.7x 21.5x 18.8x
FCF Yield 5.37% 5.29% 6.85% 6.7% 5.26% 4.22% 4.64% 5.31%
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 2 198.78 144.73 161.14 220.20 323.19 450.10 450.10 450.10
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.($)
35.96x7x18.5x-.--% 25.49B
22.77x3.72x12.99x2.92% 219B
-133.08x18.57x102.94x-.--% 120B
13.79x1.52x8.01x3.47% 114B
13.78x2.51x9.46x5.96% 80.39B
19.36x5.14x12.63x2.93% 57.92B
13.62x1.97x8.34x5.72% 43.9B
22.36x1.83x11.42x1.31% 43.83B
21.06x1.6x10.17x0.89% 40.53B
17.65x2.23x10.58x4.95% 36.18B
Average 4.73x 4.61x 20.50x 2.82% 78.03B
Weighted average by Cap. -4.04x 5.38x 25.23x 2.83%

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

-40%: Exceptional extension
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