F5 (FFIV) FY2014 results: revenue $1.7 billion, up 16.9% on the year
F5, Inc. (FFIV) reported revenue of $1.7 billion for fiscal 2014, the year ended 30 September 2014, up 16.9% on the year before. Net income was $311 million, up 12.2%, and diluted earnings per share $4.09. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2014.
Revenue
$1.7 billion
+16.9% on the year
FY2008FY2014
Operating margin
28.5%
29.1% a year earlier
FY2008FY2014
Net income
$311 million
+12.2% on the year
FY2008FY2014
Diluted EPS
$4.09
+16.9% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,732
1,481
1,377
+16.9%
Cost of revenue
310
253
236
+22.5%
Gross profit
1,422
1,228
1,141
+15.8%
Gross margin
82.1%
82.9%
82.9%
Research and development
264
210
177
+25.8%
Operating income
494
431
426
+14.6%
Operating margin
28.5%
29.1%
31.0%
Pre-tax income
497
438
432
+13.5%
Income tax
186
161
157
+15.8%
Effective tax rate
37.4%
36.7%
36.3%
Net income
311
277
275
+12.2%
Net margin
18.0%
18.7%
20.0%
Diluted EPS
$4.09
$3.50
$3.45
+16.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
549
500
495
+9.9%
Capital expenditure
22.7
26.6
29.9
-14.5%
Free cash flow
526
473
466
+11.2%
Free cash flow margin
30.4%
31.9%
33.8%
Cash from investing
151
-352
-352
Cash from financing
-605
-166
-149
Depreciation and amortisation
46.1
40.0
35.1
+15.3%
Share-based compensation
127
104
95.3
+22.0%
Buybacks
651
200
185
+225.3%
Diluted shares, weighted
76m
79m
80m
-3.8%
Shares outstanding at period end
73m
78m
79m
-6.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,369
1,539
1,329
-11.0%
Debt
0.0
0.0
0.0
Other liabilities
816
692
582
+17.9%
Total liabilities and equity
2,185
2,231
1,911
-2.0%
Fixed assets
66.8
63.5
59.6
+5.1%
Goodwill
557
524
348
+6.3%
Intangible assets
65.3
68.1
21.3
-4.2%
Investments
847
1,081
984
-21.7%
Cash and equivalents
282
190
211
+48.4%
Receivables
242
204
185
+18.6%
Inventory
24.5
19.0
17.4
+28.6%
Other assets
101
80.8
84.5
+24.9%
Total assets
2,185
2,231
1,911
-2.0%
10-K for the year ended 30 September 2014, filed 26 November 2014: the filing.