F5
FFIV · Communications Equipment
$455.42
1.2%Ubiquiti
UI · Communications Equipment
$587.42
1.4%The short version
- Ubiquiti is the larger business, with $3.3B of revenue in fiscal 2026 against $3.1B for F5.
- Ubiquiti grew revenue faster (27.2%, against 9.7%).
- Ubiquiti kept more of each dollar of sales as operating profit (36.2% operating margin, against 24.8% operating margin).
- F5 turned more of its sales into free cash flow (29.4% FCF margin, against 27.8% FCF margin).
- Ubiquiti earned a higher return on the capital invested in it (104.2%, against 30.5%).
- Investors pay more for each dollar of Ubiquiti’s earnings: a P/E of 37.1x against 36.3x for F5.
| Latest fiscal year | FFIV · FY25 | UI · FY26 |
|---|---|---|
| Size | ||
| Market cap | $26.2B | $35.6B |
| Revenue | $3.1B | $3.3B |
| Free cash flow | $906M | $909M |
| Net income | $692M | $960M |
| Growth | ||
| Revenue growth | 9.7% | 27.2% |
| 5-year growth | 5.6% | 11.5% |
| Share count change | −1.1% | 0.1% |
| Profitability | ||
| Gross margin | 81.4% | 46.2% |
| Operating margin | 24.8% | 36.2% |
| Net margin | 22.4% | 29.3% |
| FCF margin | 29.4% | 27.8% |
| Return on capital | 30.5% | 104.2% |
| Return on equity | 20.6% | 91.1% |
| Balance sheet | ||
| Net debt | −$1.3B | −$611M |
| Net debt / EBITDA | −1.6x | −0.5x |
| Dividends and buybacks | $502M | $194M |
| Valuation & quality | ||
| P/E | 36.3x | 37.1x |
| Piotroski F-score | 8 | 7 |
FY17
FFIV $2.1B
UI $865M
FY18
FFIV $2.2B
UI $1.0B
FY19
FFIV $2.2B
UI $1.2B
FY20
FFIV $2.4B
UI $1.3B
FY21
FFIV $2.6B
UI $1.9B
FY22
FFIV $2.7B
UI $1.7B
FY23
FFIV $2.8B
UI $1.9B
FY24
FFIV $2.8B
UI $1.9B
FY25
FFIV $3.1B
UI $2.6B
FY26
FFIV —
UI $3.3B
FFIV
UI
FY17
FFIV 27.0%
UI 33.5%
FY18
FFIV 27.3%
UI 32.1%
FY19
FFIV 23.1%
UI 33.9%
FY20
FFIV 16.7%
UI 37.2%
FY21
FFIV 15.1%
UI 39.1%
FY22
FFIV 15.0%
UI 27.3%
FY23
FFIV 16.8%
UI 28.1%
FY24
FFIV 23.4%
UI 25.9%
FY25
FFIV 24.8%
UI 32.5%
FY26
FFIV —
UI 36.2%
FFIV
UI
FY17
FFIV $702M
UI $105M
FY18
FFIV $708M
UI $323M
FY19
FFIV $644M
UI $208M
FY20
FFIV $601M
UI $430M
FY21
FFIV $615M
UI $594M
FY22
FFIV $409M
UI $357M
FY23
FFIV $599M
UI −$166M
FY24
FFIV $762M
UI $530M
FY25
FFIV $906M
UI $627M
FY26
FFIV —
UI $909M
FFIV
UI
FY17
FFIV —
UI 140.2%
FY18
FFIV —
UI 94.7%
FY19
FFIV —
UI 138.9%
FY20
FFIV 27.7%
UI 144.4%
FY21
FFIV 20.9%
UI 246.9%
FY22
FFIV 18.0%
UI 324.6%
FY23
FFIV 19.5%
UI 106.2%
FY24
FFIV 26.5%
UI 51.5%
FY25
FFIV 30.5%
UI 85.4%
FY26
FFIV —
UI 104.2%
FFIV
UI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.