F5, Inc. — Earnings Quality Grade C
FFIV · Technology
Some red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 49 days, change -1 days YoY
AR growth 6.5% vs revenue growth 9.7%
Revenue 9.7%, CFFO 19.8%. Cash follows revenue
Expense Quality
Inventory 1.1% vs COGS 2.9%. Normal
CapEx growth 42.2% is >2x revenue growth 9.7%
SG&A/Gross Profit = 47.0%. Normal
Gross margin 81.4%, change +1.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.37. Profits backed by cash
FCF $0.9B, FCF/NI = 1.31
Accruals ratio = -4.1%. Low accruals
Cash $1.3B covers debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $2.5B = 71% of equity. Over 50%
Debt/EBITDA = 0.3x. Healthy
Other assets 18.5% vs revenue 9.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 5% YoY. Normal
Manipulation Score
M-Score = -2.60 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10