Intrinsic value of F5 Networks - FFIV

Previous Close

$167.73

  Intrinsic Value

$126.74

stock screener

  Rating & Target

sell

-24%

Previous close

$167.73

 
Intrinsic value

$126.74

 
Up/down potential

-24%

 
Rating

sell

We calculate the intrinsic value of FFIV stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
Revenue, $m
  2,188
  2,292
  2,401
  2,516
  2,636
  2,764
  2,897
  3,038
  3,186
  3,342
  3,505
  3,677
  3,858
  4,048
  4,247
  4,457
  4,678
  4,909
  5,152
  5,408
  5,676
  5,958
  6,254
  6,566
  6,892
  7,235
  7,596
  7,974
  8,372
  8,789
Variable operating expenses, $m
  1,586
  1,658
  1,735
  1,815
  1,900
  1,988
  2,082
  2,180
  2,284
  2,393
  2,452
  2,572
  2,698
  2,831
  2,971
  3,117
  3,272
  3,433
  3,604
  3,782
  3,970
  4,167
  4,374
  4,592
  4,820
  5,060
  5,312
  5,577
  5,855
  6,147
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,586
  1,658
  1,735
  1,815
  1,900
  1,988
  2,082
  2,180
  2,284
  2,393
  2,452
  2,572
  2,698
  2,831
  2,971
  3,117
  3,272
  3,433
  3,604
  3,782
  3,970
  4,167
  4,374
  4,592
  4,820
  5,060
  5,312
  5,577
  5,855
  6,147
Operating income, $m
  602
  633
  666
  701
  737
  775
  815
  858
  902
  949
  1,054
  1,105
  1,160
  1,217
  1,277
  1,340
  1,406
  1,476
  1,549
  1,626
  1,706
  1,791
  1,880
  1,974
  2,072
  2,175
  2,283
  2,397
  2,517
  2,642
EBITDA, $m
  696
  729
  763
  800
  838
  879
  921
  966
  1,013
  1,062
  1,114
  1,169
  1,226
  1,287
  1,350
  1,417
  1,487
  1,561
  1,638
  1,719
  1,805
  1,894
  1,988
  2,087
  2,191
  2,300
  2,415
  2,535
  2,661
  2,794
Interest expense (income), $m
  0
  0
  3
  7
  10
  14
  18
  22
  26
  31
  35
  40
  46
  51
  57
  63
  70
  76
  83
  91
  99
  107
  116
  125
  134
  144
  155
  166
  177
  190
  202
Earnings before tax, $m
  602
  630
  660
  691
  723
  758
  794
  832
  872
  914
  1,013
  1,060
  1,109
  1,160
  1,214
  1,270
  1,330
  1,392
  1,458
  1,527
  1,599
  1,675
  1,755
  1,839
  1,928
  2,020
  2,117
  2,220
  2,327
  2,440
Tax expense, $m
  163
  170
  178
  186
  195
  205
  214
  225
  235
  247
  274
  286
  299
  313
  328
  343
  359
  376
  394
  412
  432
  452
  474
  497
  520
  545
  572
  599
  628
  659
Net income, $m
  440
  460
  481
  504
  528
  553
  579
  607
  636
  667
  740
  774
  809
  847
  886
  927
  971
  1,016
  1,064
  1,115
  1,168
  1,223
  1,281
  1,343
  1,407
  1,475
  1,546
  1,620
  1,699
  1,781

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,507
  2,625
  2,750
  2,882
  3,020
  3,166
  3,319
  3,480
  3,650
  3,828
  4,015
  4,212
  4,419
  4,637
  4,865
  5,106
  5,358
  5,623
  5,902
  6,195
  6,502
  6,825
  7,164
  7,521
  7,895
  8,288
  8,701
  9,134
  9,590
  10,068
Adjusted assets (=assets-cash), $m
  2,507
  2,625
  2,750
  2,882
  3,020
  3,166
  3,319
  3,480
  3,650
  3,828
  4,015
  4,212
  4,419
  4,637
  4,865
  5,106
  5,358
  5,623
  5,902
  6,195
  6,502
  6,825
  7,164
  7,521
  7,895
  8,288
  8,701
  9,134
  9,590
  10,068
Revenue / Adjusted assets
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
  0.873
Average production assets, $m
  420
  440
  461
  483
  506
  531
  556
  583
  612
  642
  673
  706
  741
  777
  816
  856
  898
  943
  989
  1,038
  1,090
  1,144
  1,201
  1,261
  1,323
  1,389
  1,458
  1,531
  1,607
  1,687
Working capital, $m
  -571
  -598
  -627
  -657
  -688
  -721
  -756
  -793
  -832
  -872
  -915
  -960
  -1,007
  -1,056
  -1,109
  -1,163
  -1,221
  -1,281
  -1,345
  -1,411
  -1,482
  -1,555
  -1,632
  -1,714
  -1,799
  -1,888
  -1,982
  -2,081
  -2,185
  -2,294
Total debt, $m
  59
  121
  186
  254
  326
  402
  482
  566
  654
  747
  845
  947
  1,055
  1,169
  1,288
  1,413
  1,544
  1,683
  1,828
  1,980
  2,141
  2,309
  2,486
  2,671
  2,866
  3,071
  3,286
  3,512
  3,749
  3,998
Total liabilities, $m
  1,306
  1,368
  1,433
  1,501
  1,573
  1,649
  1,729
  1,813
  1,901
  1,994
  2,092
  2,195
  2,302
  2,416
  2,535
  2,660
  2,792
  2,930
  3,075
  3,227
  3,388
  3,556
  3,733
  3,918
  4,113
  4,318
  4,533
  4,759
  4,996
  5,245
Total equity, $m
  1,201
  1,257
  1,317
  1,380
  1,447
  1,516
  1,590
  1,667
  1,748
  1,833
  1,923
  2,018
  2,117
  2,221
  2,331
  2,446
  2,567
  2,694
  2,827
  2,967
  3,115
  3,269
  3,432
  3,602
  3,782
  3,970
  4,168
  4,375
  4,593
  4,822
Total liabilities and equity, $m
  2,507
  2,625
  2,750
  2,881
  3,020
  3,165
  3,319
  3,480
  3,649
  3,827
  4,015
  4,213
  4,419
  4,637
  4,866
  5,106
  5,359
  5,624
  5,902
  6,194
  6,503
  6,825
  7,165
  7,520
  7,895
  8,288
  8,701
  9,134
  9,589
  10,067
Debt-to-equity ratio
  0.050
  0.100
  0.140
  0.180
  0.230
  0.270
  0.300
  0.340
  0.370
  0.410
  0.440
  0.470
  0.500
  0.530
  0.550
  0.580
  0.600
  0.620
  0.650
  0.670
  0.690
  0.710
  0.720
  0.740
  0.760
  0.770
  0.790
  0.800
  0.820
  0.830
Adjusted equity ratio
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479
  0.479

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  440
  460
  481
  504
  528
  553
  579
  607
  636
  667
  740
  774
  809
  847
  886
  927
  971
  1,016
  1,064
  1,115
  1,168
  1,223
  1,281
  1,343
  1,407
  1,475
  1,546
  1,620
  1,699
  1,781
Depreciation, amort., depletion, $m
  93
  95
  97
  99
  101
  103
  106
  108
  111
  113
  61
  64
  67
  70
  73
  77
  81
  85
  89
  94
  98
  103
  108
  114
  119
  125
  131
  138
  145
  152
Funds from operations, $m
  533
  555
  579
  603
  629
  656
  685
  715
  747
  780
  800
  837
  876
  917
  959
  1,004
  1,052
  1,101
  1,153
  1,208
  1,266
  1,326
  1,390
  1,456
  1,526
  1,600
  1,677
  1,758
  1,843
  1,933
Change in working capital, $m
  -26
  -27
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -58
  -60
  -63
  -67
  -70
  -74
  -77
  -81
  -85
  -90
  -94
  -99
  -104
  -109
Cash from operations, $m
  559
  582
  607
  633
  661
  690
  720
  752
  786
  821
  843
  882
  923
  966
  1,012
  1,059
  1,109
  1,162
  1,217
  1,275
  1,336
  1,400
  1,467
  1,538
  1,612
  1,689
  1,771
  1,857
  1,947
  2,042
Maintenance CAPEX, $m
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -64
  -67
  -70
  -73
  -77
  -81
  -85
  -89
  -94
  -98
  -103
  -108
  -114
  -119
  -125
  -131
  -138
  -145
New CAPEX, $m
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -73
  -76
  -80
Cash from investing activities, $m
  -55
  -58
  -61
  -64
  -67
  -70
  -74
  -77
  -81
  -85
  -89
  -94
  -99
  -103
  -108
  -113
  -119
  -125
  -132
  -138
  -146
  -152
  -160
  -168
  -177
  -185
  -194
  -204
  -214
  -225
Free cash flow, $m
  503
  525
  546
  570
  594
  620
  646
  675
  705
  736
  754
  788
  825
  863
  903
  945
  990
  1,036
  1,085
  1,137
  1,191
  1,247
  1,307
  1,370
  1,435
  1,504
  1,577
  1,653
  1,733
  1,817
Issuance/(repayment) of debt, $m
  59
  62
  65
  69
  72
  76
  80
  84
  88
  93
  98
  103
  108
  113
  119
  125
  132
  138
  145
  152
  160
  168
  177
  186
  195
  205
  215
  226
  237
  249
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  59
  62
  65
  69
  72
  76
  80
  84
  88
  93
  98
  103
  108
  113
  119
  125
  132
  138
  145
  152
  160
  168
  177
  186
  195
  205
  215
  226
  237
  249
Total cash flow (excl. dividends), $m
  562
  586
  612
  638
  666
  695
  726
  759
  793
  829
  851
  891
  933
  976
  1,022
  1,071
  1,121
  1,175
  1,230
  1,289
  1,351
  1,416
  1,484
  1,555
  1,630
  1,709
  1,792
  1,879
  1,970
  2,066
Retained Cash Flow (-), $m
  -54
  -57
  -60
  -63
  -66
  -70
  -73
  -77
  -81
  -85
  -90
  -94
  -99
  -104
  -110
  -115
  -121
  -127
  -133
  -140
  -147
  -155
  -162
  -171
  -179
  -188
  -198
  -208
  -218
  -229
Prev. year cash balance distribution, $m
  82
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  591
  530
  552
  575
  600
  626
  653
  682
  712
  743
  762
  797
  834
  872
  913
  956
  1,000
  1,047
  1,097
  1,149
  1,204
  1,261
  1,321
  1,385
  1,451
  1,521
  1,594
  1,671
  1,752
  1,837
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  566
  485
  480
  474
  465
  454
  441
  426
  409
  390
  362
  340
  317
  293
  268
  243
  218
  193
  169
  146
  124
  105
  87
  71
  56
  44
  34
  26
  19
  14
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

F5 Networks, Inc. is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems. The Company's geographical segments include the Americas (primarily the United States); Europe, the Middle East, and Africa (EMEA); Japan, and the Asia Pacific region (APAC). The Company's Traffic Management Operating System (TMOS) based offerings include software products for local and global traffic management, network and application security, access management, Web acceleration and various network and application services. These products are available as modules that can run individually or as part of an integrated solution on the Company's purpose-built BIG-IP appliances and VIPRION chassis-based hardware, or as software-only Virtual Editions.

FINANCIAL RATIOS  of  F5 Networks (FFIV)

Valuation Ratios
P/E Ratio 24.9
Price to Sales 5
Price to Book 8.5
Price to Tangible Book
Price to Cash Flow 14.2
Price to Free Cash Flow 15.1
Growth Rates
Sales Growth Rate 4.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -36.8%
Cap. Spend. - 3 Yr. Gr. Rate 13.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 17.6%
Ret/ On Assets - 3 Yr. Avg. 16.6%
Return On Total Capital 34.9%
Ret/ On T. Cap. - 3 Yr. Avg. 30.4%
Return On Equity 34.9%
Return On Equity - 3 Yr. Avg. 30.4%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 83.1%
Gross Margin - 3 Yr. Avg. 83%
EBITDA Margin 30.5%
EBITDA Margin - 3 Yr. Avg. 31%
Operating Margin 27%
Oper. Margin - 3 Yr. Avg. 27.7%
Pre-Tax Margin 27.6%
Pre-Tax Margin - 3 Yr. Avg. 28.1%
Net Profit Margin 20.1%
Net Profit Margin - 3 Yr. Avg. 19.2%
Effective Tax Rate 26.9%
Eff/ Tax Rate - 3 Yr. Avg. 31.8%
Payout Ratio 0%

FFIV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FFIV stock intrinsic value calculation we used $2090.041 million for the last fiscal year's total revenue generated by F5 Networks. The default revenue input number comes from 0001 income statement of F5 Networks. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FFIV stock valuation model: a) initial revenue growth rate of 4.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for FFIV is calculated based on our internal credit rating of F5 Networks, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of F5 Networks.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FFIV stock the variable cost ratio is equal to 72.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FFIV stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for F5 Networks.

Corporate tax rate of 27% is the nominal tax rate for F5 Networks. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FFIV stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FFIV are equal to 19.2%.

Life of production assets of 11.1 years is the average useful life of capital assets used in F5 Networks operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FFIV is equal to -26.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1229.392 million for F5 Networks - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 61.115 million for F5 Networks is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of F5 Networks at the current share price and the inputted number of shares is $10.3 billion.

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COMPANY NEWS

▶ F5 Announces Date for Q4 Earnings Conference Call   [Sep-26-18 07:30AM  Business Wire]
▶ Five things that happened as the kids headed back to school   [Sep-07-18 06:32PM  American City Business Journals]
▶ F5 to Present at Citis 2018 Global Technology Conference   [Sep-05-18 02:23PM  Business Wire]
▶ Reasons Why I Like F5 Networks Inc (NASDAQ:FFIV)   [Aug-29-18 12:02PM  Simply Wall St.]
▶ S&P 500 Eyes Record; This Retailer Backs Off From Potential Breakout   [Aug-21-18 10:16AM  Investor's Business Daily]
▶ F5 Networks cuts 230 jobs, closes Massachusetts office amid restructuring   [Jul-25-18 06:58PM  American City Business Journals]
▶ F5: Fiscal 3Q Earnings Snapshot   [04:19PM  Associated Press]
▶ F5 Networks, Inc. to Host Earnings Call   [02:30PM  ACCESSWIRE]
▶ F5 Networks' Q3 Earnings Preview   [08:24AM  Benzinga]
▶ F5 Networks Appoints Michel Combes to Board of Directors   [Jul-20-18 01:38PM  Business Wire]
▶ F5 Networks hires chief information security officer   [Jul-11-18 02:53PM  American City Business Journals]
▶ 18 Midterm Election Year Stock Picks   [Jul-09-18 07:23AM  Investopedia]
▶ F5 Named a WAF Leader by Independent Research Firm   [Jun-25-18 06:26PM  Business Wire]
▶ Is It Time To Buy F5 Networks Inc (NASDAQ:FFIV)?   [Jun-21-18 12:09PM  Simply Wall St.]
▶ F5 Announces Date for Q3 Earnings Conference Call   [Jun-18-18 01:13PM  Business Wire]
▶ 10 cloud-computing stocks that live up to the hype   [Jun-13-18 05:13AM  MarketWatch]
▶ F5 Networks hires chief financial officer, discloses departure of sales exec   [May-21-18 03:03PM  American City Business Journals]
▶ Stocks Higher; Macy's EPS Beat Sparks New High As Other Retailers Gain   [May-16-18 10:29AM  Investor's Business Daily]
▶ F5 Networks Earnings Top Estimates, Guidance In-Line, Shares Dip   [Apr-25-18 05:18PM  Investor's Business Daily]
▶ F5: Fiscal 2Q Earnings Snapshot   [04:19PM  Associated Press]
▶ F5 Networks, Inc. to Host Earnings Call   [12:00PM  ACCESSWIRE]
▶ F5 Networks Q2 Earnings Preview   [07:49AM  Benzinga]
▶ F5 Launches Advanced WAF for Multi-Cloud App Security   [Apr-10-18 12:00PM  Business Wire]
▶ IBM, Oracle Cloud Services Partner Tests Stormy Breakout   [Mar-27-18 04:07PM  Investor's Business Daily]
▶ F5 Announces Date for Q2 Earnings Conference Call   [Mar-16-18 07:30AM  Business Wire]
▶ F5 CEO Locoh-Donou Charts the Software Shift   [Mar-09-18 06:08PM  Barrons.com]
▶ F5 Launches Super-NetOps Initiative   [07:00AM  Business Wire]
▶ The Key Trends From F5 Networks' Q1   [Jan-25-18 02:25PM  Forbes]
▶ 4 Stocks to Watch Thursday   [01:34PM  GuruFocus.com]
▶ F5 beats Street 1Q forecasts   [04:15PM  Associated Press]
▶ Cisco Systems Upgraded As Software Strategy Jells   [Jan-05-18 04:33PM  Investor's Business Daily]
▶ Stocks to Avoid   [Dec-21-17 06:00AM  Morningstar]
▶ F5 Announces Date for Q1 Earnings Conference Call   [Dec-18-17 07:30AM  Business Wire]

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