F5 (FFIV) FY2013 results: revenue $1.5 billion, up 7.6% on the year
F5, Inc. (FFIV) reported revenue of $1.5 billion for fiscal 2013, the year ended 30 September 2013, up 7.6% on the year before. Net income was $277 million, up 0.8%, and diluted earnings per share $3.50. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2013.
Revenue
$1.5 billion
+7.6% on the year
FY2008FY2013
Operating margin
29.1%
31.0% a year earlier
FY2008FY2013
Net income
$277 million
+0.8% on the year
FY2008FY2013
Diluted EPS
$3.50
+1.4% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,481
1,377
1,152
+7.6%
Cost of revenue
253
236
208
+7.1%
Gross profit
1,228
1,141
944
+7.6%
Gross margin
82.9%
82.9%
81.9%
Research and development
210
177
139
+18.2%
Operating income
431
426
351
+1.1%
Operating margin
29.1%
31.0%
30.4%
Pre-tax income
438
432
361
+1.4%
Income tax
161
157
119
+2.4%
Effective tax rate
36.7%
36.3%
33.1%
Net income
277
275
241
+0.8%
Net margin
18.7%
20.0%
21.0%
Diluted EPS
$3.50
$3.45
$2.96
+1.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
500
495
417
+0.9%
Capital expenditure
26.6
29.9
30.4
-11.0%
Free cash flow
473
466
386
+1.6%
Free cash flow margin
31.9%
33.8%
33.6%
Cash from investing
-352
-352
-140
Cash from financing
-166
-149
-227
Depreciation and amortisation
40.0
35.1
20.9
+13.8%
Share-based compensation
104
95.3
89.7
+9.3%
Buybacks
200
185
272
+8.2%
Diluted shares, weighted
79m
80m
81m
-0.8%
Shares outstanding at period end
78m
79m
79m
-0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,539
1,329
1,105
+15.7%
Debt
0.0
0.0
0.0
Other liabilities
692
582
463
+18.9%
Total liabilities and equity
2,231
1,911
1,569
+16.7%
Fixed assets
63.5
59.6
48.0
+6.6%
Goodwill
524
348
235
+50.4%
Intangible assets
68.1
21.3
9.8
+220.2%
Investments
1,081
984
796
+9.9%
Cash and equivalents
190
211
217
-10.2%
Receivables
204
185
166
+10.3%
Inventory
19.0
17.4
17.1
+9.3%
Other assets
80.8
84.5
80.5
-4.4%
Total assets
2,231
1,911
1,569
+16.7%
10-K for the year ended 30 September 2013, filed 22 November 2013: the filing.