F5 (FFIV) Operating Expenses (2009 - 2026)
F5's (FFIV) quarterly Operating Expenses came in at $498.2 million in Q2 2026, up 14.43% year-over-year from $435.4 million in Q2 2025, and up 3.42% quarter-over-quarter from $481.8 million in Q1 2026.
Analysis
F5 (FFIV) Operating Expenses (2009 - 2026) Analysis & Trends
F5 has disclosed Operating Expenses across 18 years of filings, most recently posting $498.2 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 14.43% year-over-year to $498.2 million; the TTM figure through Jun 2026 stood at $1.9 billion (up 11.62% YoY), while the FY2025 annual figure was $1.7 billion, up 9.27% from the prior year.
- Operating Expenses came in at $498.2 million for Q2 2026 at F5, up from $481.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $498.2 million in Q2 2026 to a low of $391.7 million in Q4 2023.
- Average Operating Expenses over 5 years is $435.9 million, with a median of $435.9 million recorded in 2022.
- Year-over-year, Operating Expenses fell 13.75% in 2023 and grew 14.43% in 2026.
- Over 5 years, Operating Expenses stood at $454.2 million in 2022, then slipped by 13.75% to $391.7 million in 2023, then advanced by 7.46% to $420.9 million in 2024, then gained by 8.46% to $456.5 million in 2025, then increased by 9.15% to $498.2 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $498.2 million in Q2 2026, $481.8 million in Q1 2026, and $456.5 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 268.31 Bn | 265.20 Bn | 2.03 Bn | 2.21 Bn |
| 2 | CrowdStrike Holdings | 213.19 Bn | 208.17 Bn | 1.10 Bn | 1.13 Bn |
| 3 | Fortinet | 113.86 Bn | 109.79 Bn | 1.64 Bn | 953.90 Mn |
| 4 | Axon Enterprise | 40.94 Bn | 40.27 Bn | 546.45 Mn | 499.67 Mn |
| 5 | Zscaler | 26.09 Bn | 22.61 Bn | - | - |
| 6 | F5 | 22.02 Bn | 20.41 Bn | 711.51 Mn | 498.25 Mn |
| 7 | Rubrik | 18.81 Bn | 17.06 Bn | 335.12 Mn | 407.03 Mn |
| 8 | Gen Digital | 17.76 Bn | 17.20 Bn | 1.03 Bn | 586.00 Mn |
| 9 | Check Point Software Technologies | 14.24 Bn | 11.96 Bn | 574.10 Mn | 488.50 Mn |
| 10 | SentinelOne | 6.62 Bn | 5.96 Bn | 210.42 Mn | 301.18 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 498.25 Mn |
| Mar 31, 2026 | 481.78 Mn |
| Dec 31, 2025 | 456.49 Mn |
| Sep 30, 2025 | 460.56 Mn |
| Jun 30, 2025 | 435.43 Mn |
| Mar 31, 2025 | 431.27 Mn |
| Dec 31, 2024 | 420.90 Mn |
| Sep 30, 2024 | 411.93 Mn |
| Jun 30, 2024 | 395.98 Mn |
| Mar 31, 2024 | 400.28 Mn |
| Dec 31, 2023 | 391.69 Mn |
| Sep 30, 2023 | 394.27 Mn |
| Jun 30, 2023 | 457.39 Mn |
| Mar 31, 2023 | 441.48 Mn |
| Dec 31, 2022 | 454.16 Mn |
| Sep 30, 2022 | 445.04 Mn |
| Jun 30, 2022 | 436.29 Mn |
| Mar 31, 2022 | 433.22 Mn |
| Dec 31, 2021 | 437.88 Mn |
| Sep 30, 2021 | 426.96 Mn |