F5 (FFIV) FY2012 results: revenue $1.4 billion, up 19.6% on the year
F5, Inc. (FFIV) reported revenue of $1.4 billion for fiscal 2012, the year ended 30 September 2012, up 19.6% on the year before. Net income was $275 million, up 14.0%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2012.
Revenue
$1.4 billion
+19.6% on the year
FY2008FY2012
Operating margin
31.0%
30.4% a year earlier
FY2008FY2012
Net income
$275 million
+14.0% on the year
FY2008FY2012
Diluted EPS
$3.45
+16.6% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
1,377
1,152
882
+19.6%
Cost of revenue
236
208
172
+13.5%
Gross profit
1,141
944
710
+20.9%
Gross margin
82.9%
81.9%
80.5%
Research and development
177
139
118
+27.7%
Operating income
426
351
230
+21.6%
Operating margin
31.0%
30.4%
26.1%
Pre-tax income
432
361
238
+19.8%
Income tax
157
119
86.5
+31.6%
Effective tax rate
36.3%
33.1%
36.4%
Net income
275
241
151
+14.0%
Net margin
20.0%
21.0%
17.1%
Diluted EPS
$3.45
$2.96
$1.86
+16.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
495
417
314
+18.8%
Capital expenditure
29.9
30.4
12.6
-1.9%
Free cash flow
466
386
301
+20.5%
Free cash flow margin
33.8%
33.6%
34.1%
Cash from investing
-352
-140
-238
Cash from financing
-149
-227
-16.8
Depreciation and amortisation
35.1
20.9
23.8
+68.2%
Share-based compensation
95.3
89.7
70.8
+6.2%
Buybacks
185
272
75.0
-31.9%
Diluted shares, weighted
80m
81m
81m
-2.1%
Shares outstanding at period end
79m
79m
80m
-0.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,329
1,105
1,004
+20.3%
Debt
0.0
0.0
0.0
Other liabilities
582
463
358
+25.6%
Total liabilities and equity
1,911
1,569
1,362
+21.8%
Fixed assets
59.6
48.0
34.2
+24.2%
Goodwill
348
235
235
+48.4%
Intangible assets
21.3
9.8
n/a
+117.7%
Investments
984
796
693
+23.6%
Cash and equivalents
211
217
169
-2.6%
Receivables
185
166
112
+11.8%
Inventory
17.4
17.1
18.8
+1.5%
Other assets
84.5
80.5
100
+5.0%
Total assets
1,911
1,569
1,362
+21.8%
10-K for the year ended 30 September 2012, filed 21 November 2012: the filing.