F5 Networks Inc (FFIV) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of F5 Networks Inc stock $372, price $312, upside +19.4%, quality 78 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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The stock costs 16% less than our calculation considers fair.
Fair value $372.17 · Undervalued (16%)
Quality 78/100
Healthy Growth(revenue 5y +5.6 %/yr in USD)
Highly profitable · 21.1% net margin (TTM)
Low debt
Generates free cash flow
Wide moat78/100
Positive coverage
Mixed vs. peers(8/14)
Insiders sold $18.1M (6M)
Some data
Quality growth
Risks from the AI analysis
🚩AI could automate or replace core delivery and security functions🚩Cloud providers and open-source tools could displace its offerings🚩AI regulations could raise compliance costs or limit use
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range $130.29 – $479.83 · fair‑value band $251.88 – $458.03 · the $311.74 price screens below the $372.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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F5, Inc. provides multicloud application security and delivery solutions in the United States, Europe, the Middle East, Africa, and the Asia Pacific region.
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The company's distributed cloud services enable its customers to deploy, secure, and operate applications in any architecture, from on-premises to the public cloud.
It also offers unified, security, networking, and application management solutions, such as web app and API protection; multi-cloud networking; application delivery and deployment; domain name system; content delivery network; and application deployment and orchestration.
In addition, the company provides application security and delivery products, including NGINX Plus; NGINX One Console; NGINX Ingress Controller; WAF for NGINX; BIG-IP Packaged Software; and BIG-IP Systems.
Further, it provides a range of professional services, including maintenance, consulting, training, and other technical support services.
The company sells its products to large enterprise businesses, public sector institutions, governments, and service providers through distributors, value-added resellers, managed service providers, systems integrators, and other indirect channel partners.
It has partnerships with public cloud providers, such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform. The company was formerly known as F5 Networks, Inc. and changed its name to F5, Inc. in November 2021.
F5, Inc. was incorporated in 1996 and is headquartered in Seattle, Washington.
Stock analysis
F5 Networks Inc (FFIV) currently trades at $311.74, while our model-based Fair Value estimate is $372.17, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $348.84 per share, and 10 of the 24 models we run sit above the $311.74 price.
Bear case: the Economic Profit group reads lowest at $107.25, and 14 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $251.88 (bear) to $458.03 (bull), the price of $311.74 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 78/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
F5 Networks Inc reported revenue of $3.4B in FY2026 versus $2.7B in FY2022, a compound +6.1%/yr. Reported net income was $722M in FY2026, compounding +22.4%/yr from FY2022.
Key figures
Market cap $18.0B Large · P/E ratio 24.9 · P/S ratio 5.26 · EPS (TTM) $12.52 · Net margin 21.1% · Return on equity 19.0% · Return on assets (EBIT) 10.4% · Operating margin 24.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (medium confidence).
What moves the price
The share trades about 35% below its 52-week high and 39% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 19%, FFIV screens cheaper than that median.
Fair Value models
Bear$251.88Fair Value $372.17Bull$458.03
Price $311.74 · Upside +19.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 1 months old). Earnings retained since then ($1.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 10 officers or directors sold shares worth $18.1M and none bought.
SaleThomas Dean FountainEVP Global Services & Strategy15× since Nov 18, 2025: 27,653 shares, avg. $291.89$8.1MNov 4, 202610b5-1 plan
SaleMichael F MontoyaChief Technology Ops Officer2× since Sep 14, 2026: 5,723 shares, avg. $391.92$2.2MNov 4, 202610b5-1 plan
SaleChad Michael WhalenEVP, Worldwide Sales5× since Mar 6, 2026: 15,245 shares, avg. $339.09$5.2MNov 3, 202610b5-1 plan
SaleKunal AnandChief Technology Officer4× since Feb 10, 2026: 5,881 shares, avg. $325.58$1.9MNov 3, 202610b5-1 plan
SaleEdward Cooper WernerChief Financial Officer7× since Mar 4, 2026: 7,766 shares, avg. $351.38$2.7MNov 3, 202610b5-1 plan
SaleJohn Anthony MaddisonChief Product Mkting Officer5× since Feb 10, 2026: 3,823 shares, avg. $338.03$1.3MNov 3, 202610b5-1 plan
SaleAngelique M OkekeEVP, General Counsel4× since Feb 10, 2026: 2,750 shares, avg. $332.17$913,474Nov 3, 202610b5-1 plan
SaleFrancois Locoh-DonouPresident, CEO & Director, Director5× since Dec 1, 2025: 15,954 shares, avg. $326.51$5.2MAug 5, 202610b5-1 plan
SaleNikhil Ramesh MehtaDirector4,000 shares at $388.95$1.6MJul 30, 2026
SaleElizabeth BuseDirector1,000 shares at $399.35$399,353Jun 10, 2026
Plus 3 more entries from the last 12 months.
Plus 24 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.6%
Start year 2021 (pandemic). Over 10 years: +5.5% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+18.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.9%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.9% vs 8.8%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 24%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.6% a year for the price and +3.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate moat from margins and switching costs in application delivery is offset by thin differentiation that leaves the business exposed to larger rivals.
Main risk: Generative AI or other tools might automate or simplify functions now performed by F5's application delivery and security solutions, reducing demand for its products among customers shifting to cloud-native or AI-driven setups.
Bull case: F5 could integrate its AI capabilities more deeply into the platform to secure and deliver AI workloads, turning the technology shift into a growth driver through expanded adoption in 5G, edge and AI infrastructure.
Bear case: If cloud-native rivals or AI tools commoditise delivery and security functions, F5 might see slower modernisation uptake, lost customers in hybrid environments and sustained pressure on margins from cheaper alternatives.
F5 is extending its established application delivery and security capabilities into cloud-native Kubernetes environments for service providers, with independent tests showing major efficiency gains in key workloads like DNS and CGNAT. This positions the company to support the shift toward 5G, edge, and AI infrastructure, yet it remains unclear how quickly operators will move away from their existing virtualized setups. Will the new tools drive faster modernization and broader platform adoption, or will integration hurdles and entrenched deployments slow the transition?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 341 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside+19.4% · Above median
Profitability
Return on equity (12 months)19.0% · Top 25%
Return on assets10.2% · Top 25%
Net margin (12 months)21.1% · Top 25%
Operating margin (12 months)24.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.3% · Above median
Balance sheet
Debt / equity0.09× · Above median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
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Is F5 Networks Inc (FFIV) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of $372.17 versus a price of $311.74, about +19% upside (undervalued).
What is the fair value of FFIV?
Our model-based fair value for F5 Networks Inc is $372.17 (as of Oct 31, 2026), built from audited fundamentals. The current price: $311.74.
What is the quality score of FFIV?
F5 Networks Inc has a Quality Score of 78/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for F5 Networks Inc (FFIV)?
Our model-based price target is the fair value of $372.17 (as of Oct 31, 2026) from 24 valuation models. Cautious scenario $251.88, optimistic scenario $458.03. It is a calculation from audited fundamentals, not an analyst target.
What is the F5 Networks Inc stock forecast for 2026?
Our models put fair value at $372.17, about +19% upside versus a price of $311.74 (undervalued). Cautious scenario $251.88, optimistic scenario $458.03. The calculation is refreshed regularly with new filings.
What is the revenue of F5 Networks Inc (FFIV)?
F5 Networks Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Oct 31, 2026).
What growth is priced into F5 Networks Inc (FFIV)?
For today's price to be fair in a discounted-cash-flow model, F5 Networks Inc would have to grow free cash flow by +8.2 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.6 % per year. As of Oct 31, 2026.
What discount rate (WACC) does the fair value of FFIV use?
Our models discount F5 Networks Inc at 9.3 %: a base by market capitalisation (large), damped by beta 1.03, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For F5 Networks Inc that is +8.2 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has F5 Networks Inc (FFIV) delivered so far?
Over the past 5 years revenue at F5 Networks Inc grew +5.6 % a year. The price currently implies +8.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of F5 Networks Inc (FFIV) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into F5 Networks Inc (+8.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of F5 Networks Inc (FFIV)?
The free-cash-flow yield on the price is 4.83 %: that much free cash flow F5 Networks Inc produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of F5 Networks Inc (FFIV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For F5 Networks Inc it is $372.17 per share (as of Oct 31, 2026), against a price of $311.74. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is F5 Networks Inc stock overvalued or undervalued in 2026?
As of Oct 31, 2026, FFIV trades below its calculated fair value: price $311.74, fair value $372.17, a gap of about +19% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FFIV?
No. The price is what the market pays today ($311.74); the fair value is what the company's own numbers justify ($372.17). For F5 Networks Inc the two are $60.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is F5 Networks Inc worth?
The market values F5 Networks Inc at about $18.0B (market capitalisation, as of Oct 31, 2026). Per share that is $311.74; our models calculate a fair value of $372.17 per share.
What do the bullish and bearish scenarios say about FFIV?
Our models span a range for F5 Networks Inc: cautious scenario $251.88, base $372.17, optimistic $458.03 per share (as of Oct 31, 2026, price $311.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FFIV?
F5 Networks Inc trades at a price-to-earnings ratio of 24.9 (as of Oct 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $372.17 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, 6 of the years ex one-offs: 25.3. Other multiples: PEG 1.4, P/B 4.5, P/S 5.3, EV/EBITDA 18.1.
What is the PEG ratio of FFIV?
The PEG ratio of F5 Networks Inc is 1.36 (P/E divided by earnings growth, as of Oct 31, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of F5 Networks Inc (FFIV)?
Balance-sheet figures for F5 Networks Inc (as of Oct 31, 2026): return on equity 19.0%, debt of 0.09 per unit of equity. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is FFIV from its 52-week high?
F5 Networks Inc trades at $311.74, about 35% below its 52-week high of $479.83 and 39% above the low of $223.99 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $372.17 is for.
Which stocks are comparable to F5 Networks Inc?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is F5 Networks Inc stock attractive at the current price?
The data as of Oct 31, 2026: price $311.74, calculated fair value $372.17 (+19%), Quality Score 78/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FFIV calculated?
We run F5 Networks Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $372.17, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. F5 Networks Inc currently trades 16% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of F5 Networks Inc (FFIV)?
The closing price on Nov 5, 2026 was $311.74. Our model-based fair value is $372.17, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with F5 Networks Inc right now?
A fairly wide model range ($251.88 to $458.03) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of F5 Networks Inc (FFIV) come from?
Earnings per share at F5 Networks Inc grew +8.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +6.8 %, EBIT margin −1.6 %, tax rate +2.3 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of F5 Networks Inc
How large is the market capitalisation of F5 Networks Inc (FFIV)?
The market capitalisation of F5 Networks Inc is $18.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of F5 Networks Inc (FFIV)?
The price-to-sales ratio of F5 Networks Inc is 5.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of F5 Networks Inc (FFIV)?
Earnings per share at F5 Networks Inc are $12.52 (price ÷ EPS = P/E 24.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of F5 Networks Inc (FFIV)?
The net margin of F5 Networks Inc is 21.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of F5 Networks Inc (FFIV)?
The return on equity (ROE) of F5 Networks Inc is 19.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of F5 Networks Inc (FFIV)?
On an EBIT basis the return on assets of F5 Networks Inc is 10.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of F5 Networks Inc (FFIV)?
The operating margin of F5 Networks Inc is 24.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at F5 Networks Inc (FFIV)?
Revenue at F5 Networks Inc is growing +13.3% versus a year earlier (3y avg +6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at F5 Networks Inc (FFIV)?
Earnings per share at F5 Networks Inc are growing −1.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does F5 Networks Inc (FFIV) hold?
F5 Networks Inc holds more cash than debt, $1.4B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Some data
Oct 31, 2026