F5, Inc. Q2 Earnings: A Strong Free Cash Flow Machine At A Reasonable Price

  • F5, Inc. raised its fiscal 2025 outlook, showing solid topline growth and strong underlying profitability, yet the market reaction was muted. FFIV operates debt-free with 8% of its market cap in net cash, justifying its 17x forward free cash flow valuation. The company's new ADSP platform and hardware upgrades drive growth, while its minimal tariff impact and steady demand bolster confidence.