F5 (FFIV) FY2019 results: revenue $2.2 billion, up 3.7% on the year
F5, Inc. (FFIV) reported revenue of $2.2 billion for fiscal 2019, the year ended 30 September 2019, up 3.7% on the year before. Net income was $428 million, down 5.7%, and diluted earnings per share $7.08. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2019.
Revenue
$2.2 billion
+3.7% on the year
FY2012FY2019
Operating margin
23.1%
27.3% a year earlier
FY2012FY2019
Net income
$428 million
-5.7% on the year
FY2012FY2019
Diluted EPS
$7.08
-3.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,242
2,161
2,090
+3.7%
Cost of revenue
357
361
353
-1.4%
Gross profit
1,886
1,800
1,737
+4.8%
Gross margin
84.1%
83.3%
83.1%
Research and development
408
366
350
+11.5%
Operating income
518
591
564
-12.3%
Operating margin
23.1%
27.3%
27.0%
Pre-tax income
541
604
576
-10.4%
Income tax
113
150
155
-24.5%
Effective tax rate
21.0%
24.9%
26.9%
Net income
428
454
421
-5.7%
Net margin
19.1%
21.0%
20.1%
Diluted EPS
$7.08
$7.32
$6.50
-3.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
748
761
740
-1.7%
Capital expenditure
104
53.5
38.7
+93.7%
Free cash flow
644
708
702
-8.9%
Free cash flow margin
28.7%
32.7%
33.6%
Cash from investing
-415
-456
-32.2
Cash from financing
-155
-551
-546
Depreciation and amortisation
68.5
59.5
61.1
+15.2%
Share-based compensation
163
158
175
+3.2%
Buybacks
201
600
600
-66.5%
Diluted shares, weighted
60m
62m
65m
-2.5%
Shares outstanding at period end
60m
60m
63m
+0.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,761
1,285
1,229
+37.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,629
1,320
1,251
+23.4%
Total liabilities and equity
3,390
2,605
2,481
+30.1%
Fixed assets
223
145
122
+54.0%
Goodwill
1,065
556
556
+91.6%
Intangible assets
109
31.3
42.6
+248.4%
Investments
731
1,026
629
-28.7%
Cash and equivalents
599
425
673
+41.1%
Receivables
322
295
292
+9.0%
Inventory
34.4
30.6
29.8
+12.5%
Other assets
305
96.7
136
+215.9%
Total assets
3,390
2,605
2,481
+30.1%
10-K for the year ended 30 September 2019, filed 15 November 2019: the filing.