F5 vs InterDigital
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The short version
- F5 is the larger business, with $3.1B of revenue in fiscal 2025 against $834M for InterDigital, about 3.7 times as much.
- F5 grew revenue faster (9.7%, against −4.0%).
- InterDigital kept more of each dollar of sales as operating profit (55.3% operating margin, against 24.8%).
- InterDigital turned more of its sales into free cash flow (63.4% FCF margin, against 29.4%).
- InterDigital earned a higher return on the capital invested in it (113.5%, against 30.5%).
- Investors pay more for each dollar of InterDigital’s earnings: a P/E of 38.1x against 36.3x for F5.
| Latest fiscal year | FFIV · FY25 | IDCC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $26.2B | $11.2B |
| Revenue | $3.1B | $834M |
| Free cash flow | $906M | $529M |
| Net income | $692M | $407M |
| Growth | ||
| Revenue growth | 9.7% | −4.0% |
| 5-year growth | 5.6% | 18.4% |
| Share count change | −1.1% | 16.0% |
| Profitability | ||
| Gross margin | 81.4% | — |
| Operating margin | 24.8% | 55.3% |
| Net margin | 22.4% | 48.8% |
| FCF margin | 29.4% | 63.4% |
| Return on capital | 30.5% | 113.5% |
| Return on equity | 20.6% | 41.5% |
| Balance sheet | ||
| Net debt | −$1.3B | −$769M |
| Net debt / EBITDA | −1.6x | −1.4x |
| Dividends and buybacks | $502M | $163M |
| Valuation & quality | ||
| P/E | 36.3x | 38.1x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
FFIV $2.0B
IDCC $666M
FY17
FFIV $2.1B
IDCC $533M
FY18
FFIV $2.2B
IDCC $307M
FY19
FFIV $2.2B
IDCC $319M
FY20
FFIV $2.4B
IDCC $359M
FY21
FFIV $2.6B
IDCC $425M
FY22
FFIV $2.7B
IDCC $458M
FY23
FFIV $2.8B
IDCC $550M
FY24
FFIV $2.8B
IDCC $869M
FY25
FFIV $3.1B
IDCC $834M
FFIV
IDCC
Operating margin
FY16
FFIV 27.4%
IDCC 65.7%
FY17
FFIV 27.0%
IDCC 56.6%
FY18
FFIV 27.3%
IDCC 20.4%
FY19
FFIV 23.1%
IDCC 11.9%
FY20
FFIV 16.7%
IDCC 15.4%
FY21
FFIV 15.1%
IDCC 16.7%
FY22
FFIV 15.0%
IDCC 32.9%
FY23
FFIV 16.8%
IDCC 40.3%
FY24
FFIV 23.4%
IDCC 50.6%
FY25
FFIV 24.8%
IDCC 55.3%
FFIV
IDCC
Free cash flow
FY16
FFIV $648M
IDCC $428M
FY17
FFIV $702M
IDCC $314M
FY18
FFIV $708M
IDCC $144M
FY19
FFIV $644M
IDCC $84.9M
FY20
FFIV $601M
IDCC $152M
FY21
FFIV $615M
IDCC $128M
FY22
FFIV $409M
IDCC $283M
FY23
FFIV $599M
IDCC $209M
FY24
FFIV $762M
IDCC $266M
FY25
FFIV $906M
IDCC $529M
FFIV
IDCC
Return on capital
FY16
FFIV —
IDCC —
FY17
FFIV —
IDCC —
FY18
FFIV —
IDCC —
FY19
FFIV —
IDCC 7.1%
FY20
FFIV 27.7%
IDCC 20.3%
FY21
FFIV 20.9%
IDCC 22.1%
FY22
FFIV 18.0%
IDCC 63.7%
FY23
FFIV 19.5%
IDCC —
FY24
FFIV 26.5%
IDCC 132.6%
FY25
FFIV 30.5%
IDCC 113.5%
FFIV
IDCC
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.