FFIV FY 2023 Earnings Report — F5, Inc. Revenue & Financial Results | Market Cap Arena

FY 2023 Earnings

Reported November 14, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.7B	—	4.4%
Op. Income	$473M	—	$404M	—	17.0%
Gross Margin	78.9%	—	80.0%	—	-1.1pp
Net Margin	14.0%	—	12.0%	—	2.1pp
EPS (Diluted)	$6.55	—	$5.27	—	24.3%
Free Cash Flow	$599M	—	$409M	—	46.5%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$593M
GROSS PROFIT	$2.2B
R&D Expenses	$540M
Selling & Marketing	$878M
General & Administrative	$263M
SG&A Expenses	$1.1B
Other Expenses	$65M
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$473M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$486M
Income Tax Expense	$91M
Net Income from Continuing Ops	$395M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$395M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$395M
D&A	$113M
EBIT	$538M
EBITDA	$651M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$593M
GROSS PROFIT	$2.2B
R&D Expenses	$540M
Selling & Marketing	$878M
General & Administrative	$263M
SG&A Expenses	$1.1B
Other Expenses	$65M
Operating Expenses	$1.7B
Cost & Expenses	$2.3B
OPERATING INCOME	$473M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$486M
Income Tax Expense	$91M
Net Income from Continuing Ops	$395M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$395M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$395M
D&A	$113M
EBIT	$538M
EBITDA	$651M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$395M
Depreciation & Amortization	$113M
Stock-Based Compensation	$237M
Deferred Income Tax	-$109M
Other Non-Cash Items	$43M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$653M
Capital Expenditure	-$54M
Acquisitions (Net)	-$35M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$127M
Other Investing Activities	$0
NET CASH FROM INVESTING	$36M
Net Debt Issuance	-$350M
Common Stock Repurchased	-$350M
Common Dividends Paid	$0
Other Financing Activities	$47M
NET CASH FROM FINANCING	-$653M
FREE CASH FLOW	$599M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$797M
Short-Term Investments	$6M
Net Receivables	$829M
Inventory	$72M
Other Current Assets	$29M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$366M
Goodwill	$2.3B
Intangible Assets	$151M
Long-Term Investments	$212M
Tax Assets	$295M
Other Non-Current Assets	$118M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$5.2B
Account Payables	$63M
Short-Term Debt	$41M
Deferred Revenue	$1.1B
Other Current Liabilities	$54M
TOTAL CURRENT LIABILITIES	$1.5B
Long-Term Debt	$240M
Deferred Revenue NC	$649M
Deferred Tax Liabilities	$5M
Other Non-Current Liabilities	-$157M
TOTAL NON-CURRENT LIABILITIES	$975M
TOTAL LIABILITIES	$2.4B
Common Stock	$24M
Additional Paid-In Capital	$0
Retained Earnings	$2.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$23M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$0
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$5.2B
Total Debt	$521M
Net Debt	-$277M