F5 (FFIV) Operating Margin (2009 - 2026)
F5 (FFIV) recorded Operating Margin of 24.65% in fiscal Q3 2026 (quarter ended Jun 30, 2026), down 0.50 percentage points from 25.16% a year earlier but up 2.60 percentage points from the prior quarter.
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Analysis
F5 (FFIV) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, F5's Operating Margin came in at 24.54% as of Jun 30, 2026, down 0.30 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it was 24.80%, up 1.42 percentage points from FY2024.
- Annual Operating Margin has increased for three straight fiscal years, with a five-year change of +8.12 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at 23.39% in FY2024 (+6.59 pp), 16.80% in FY2023 (+1.82 pp), 14.98% in FY2022 (-0.16 pp) and 15.13% in FY2021 (-1.55 pp).
- Quarterly Operating Margin has ranged from 11.77% in fiscal Q2 2022 to 26.76% in fiscal Q1 2025 over the past five years.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of +0.76 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 10.73 percentage points in fiscal Q1 2024, against a drop of 3.59 percentage points in fiscal Q1 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 22.05% (Q2 2026), 26.04% (Q1 2026) and 25.39% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 0.49% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 5.17% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 13.29% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 9.66% |
| 10 | F5 | 24.75 Bn | 19.16 Bn | 711.51 Mn | 24.65% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 24.65% |
| Mar 31, 2026 | 22.05% |
| Dec 31, 2025 | 26.04% |
| Sep 30, 2025 | 25.39% |
| Jun 30, 2025 | 25.16% |
| Mar 31, 2025 | 21.73% |
| Dec 31, 2024 | 26.76% |
| Sep 30, 2024 | 25.58% |
| Jun 30, 2024 | 23.45% |
| Mar 31, 2024 | 20.54% |
| Dec 31, 2023 | 23.75% |
| Sep 30, 2023 | 24.29% |
| Jun 30, 2023 | 14.74% |
| Mar 31, 2023 | 15.08% |
| Dec 31, 2022 | 13.02% |
| Sep 30, 2022 | 15.36% |
| Jun 30, 2022 | 15.93% |
| Mar 31, 2022 | 11.77% |
| Dec 31, 2021 | 16.61% |
| Sep 30, 2021 | 18.53% |
API Access
F5 Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=FFIV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "FFIV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=FFIV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();