F5 Tops Q4 Estimates, Guides FY2027 to 8-9% Growth, Adds $1.5B Buyback
FFIV sits 97% above its 52-week low of $223.76 on elevated volume (2.6× avg).
Summary
F5 posted 13% Q4 revenue growth to $917 million and guided fiscal 2027 to 8-9% growth with $18.00-$18.30 non-GAAP EPS, while the board authorized an additional $1.5 billion for share repurchases.
Key Events · Earnings and Guidance · FFIV
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Q4 Revenue Up 13% to $917M
Fourth-quarter revenue rose 13% to $917 million from $810 million, with product revenue up 23% to $510 million and systems revenue up 29% to $239 million.
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FY2027 Guidance Set at 8-9% Growth
Management guided fiscal 2027 revenue growth of 8% to 9% and non-GAAP EPS of $18.00 to $18.30; Q1 FY2027 revenue is guided to $875 million-$895 million with non-GAAP EPS of $4.25-$4.37.
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Board Adds $1.5B to Buyback
The board authorized an additional $1.5 billion for common stock repurchases, incremental to the $322.4 million remaining in the existing program; F5 paid $601 million for repurchases in fiscal 2026.
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Operating Margin Compresses
Non-GAAP operating margin fell to 33.7% in Q4 from 37.0% a year earlier, as sales and marketing expense rose to $274 million from $216 million and R&D to $165 million from $136 million.
Analysis · FFIV · Technology
F5 closed fiscal 2026 with fourth-quarter revenue up 13% to $917 million and product revenue up 23%, then guided fiscal 2027 to 8-9% revenue growth and $18.00-$18.30 non-GAAP EPS. The board also added $1.5 billion to the buyback, on top of $322.4 million left in the existing program — a large repurchase capacity against a $26 billion market cap that supports per-share results while the company spends $601 million a year on repurchases. Margin is the main caveat: non-GAAP operating margin slipped to 33.7% from 37.0% a year ago as sales and marketing and R&D spending grew faster than revenue.
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At the time of this filing, FFIV was trading at $439.83 on NASDAQ in the Technology sector, with a market capitalization of approximately $26B. The 52-week trading range was $223.76 to $483.30. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.