What is F5, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on F5, Inc.'s reported free cash flow gives $318.17 per share. The share price was $443.06 on September 25, 2026, 39% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.5% | 10.0% | $209.47 | -53% |
| Base | 5.5% | 9.0% | $318.17 | -28% |
| Bull | 10.5% | 8.0% | $534.87 | +21% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $397.94 | $422.23 | $451.92 | $489.03 | $536.74 |
| 8.0% | $338.46 | $354.21 | $372.83 | $395.17 | $422.47 |
| 9.0% | $294.97 | $305.74 | $318.17 | $332.66 | $349.80 |
| 10.0% | $261.82 | $269.48 | $278.16 | $288.08 | $299.52 |
| 11.0% | $235.73 | $241.35 | $247.62 | $254.68 | $262.68 |
Where the presets come from
Base: years 1 to 5 grow at F5, Inc.'s revenue growth rate over the last 5 fiscal years (5.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions