Filing Flows › F5 (FFIV) › How it makes money
How F5 (FFIV) makes money
F5 (FFIV) made $865M of revenue in the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier. Product brought in $463M (54%); Service brought in $402M (46%). Of every dollar of revenue, 82¢ was left as gross profit, 25¢ was left as operating profit, 24¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $463M | 53.5% | +13% | +19% |
| Service | $402M | 46.5% | +0.3% | +3% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $865M | 100.0% |
| Cost of revenue | $154M | 17.8% |
| Gross profit | $712M | 82.2% |
| Operating expenses | $498M | 57.6% |
| Operating profit | $213M | 24.7% |
| Income tax | $18.0M | 2.1% |
| Net earnings | $208M | 24.1% |
| Operating cash flow | $316M | 36.6% |
| Free cash flow | $281M | 32.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $865M | +11% |
| Q2 FY26 | $812M | +11% |
| Q1 FY26 | $822M | +7% |
| Q4 FY25 | $810M | +8% |
| Q3 FY25 | $780M | +12% |
| Q2 FY25 | $731M | +7% |
| Q4 FY24 | $747M | +6% |
From F5's 10-Q filed Aug 6, 2026 (on EDGAR).
Questions
How does F5 make money?
F5 (FFIV) made $865M of revenue in the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier. Product brought in $463M (54%); Service brought in $402M (46%). Of every dollar of revenue, 82¢ was left as gross profit, 25¢ was left as operating profit, 24¢ was left as net earnings.
What is F5's biggest business?
Product: $463M in the third quarter fiscal 2026, 54% of revenue, +19% from a year earlier.
What is F5's profit margin?
Net earnings were $208M, 24.1% of revenue, in the third quarter fiscal 2026; the operating margin was 24.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.