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A10 Networks vs F5: revenue, profit, margins and growth compared

A10 Networks brought in $290.6M of revenue in fiscal 2025, F5 $3.1B in fiscal 2025. Revenue changed by +11.0% at A10 Networks and +9.7% at F5 on the year before, so A10 Networks grew faster. A10 Networks kept 14.5% of its revenue as net profit, F5 22.4%. Free cash flow was $64.8M at A10 Networks and $906.4M at F5.

Side by side, latest fiscal year

ATENFFIV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$290.6M$3.1B
Revenue growth+11.0%+9.7%
Net income$42.1M$692.4M
Net margin14.5%22.4%
Free cash flow$64.8M$906.4M
Free cash flow margin22.3%29.4%
Earnings per share (diluted)$0.57$11.80
Cash$71.1M$1.3B
Debt$218.8Mn/a
Price to earnings45.137.5
Market value$1.9B$25.1B
Dividend yield0.93%n/a
Rank by revenue in sector#34 of 51 · Telecommunications#15 of 51 · Telecommunications

Over the years

Revenue
ATEN FY2018: $232.2MATEN FY2019: $212.6MATEN FY2020: $225.5MATEN FY2021: $250MATEN FY2022: $280.3MATEN FY2022: $251.7MATEN FY2024: $261.7MATEN FY2025: $290.6MFFIV FY2018: $2.2BFFIV FY2019: $2.2BFFIV FY2020: $2.4BFFIV FY2021: $2.6BFFIV FY2022: $2.7BFFIV FY2023: $2.8BFFIV FY2024: $2.8BFFIV FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
ATEN $290.6MFFIV $3.1B
Net income
ATEN FY2018: -$27.6MATEN FY2019: -$17.8MATEN FY2020: $17.8MATEN FY2021: $94.9MATEN FY2022: $46.9MATEN FY2022: $40MATEN FY2024: $50.1MATEN FY2025: $42.1MFFIV FY2018: $453.7MFFIV FY2019: $427.7MFFIV FY2020: $307.4MFFIV FY2021: $331.2MFFIV FY2022: $322.2MFFIV FY2023: $394.9MFFIV FY2024: $566.8MFFIV FY2025: $692.4MFY18FY19FY20FY21FY22FY23FY24FY25
ATEN $42.1MFFIV $692.4M
Net margin
ATEN FY2018: -11.9%ATEN FY2019: -8.4%ATEN FY2020: 7.9%ATEN FY2021: 37.9%ATEN FY2022: 16.7%ATEN FY2022: 15.9%ATEN FY2024: 19.2%ATEN FY2025: 14.5%FFIV FY2018: 21.0%FFIV FY2019: 19.1%FFIV FY2020: 13.1%FFIV FY2021: 12.7%FFIV FY2022: 12.0%FFIV FY2023: 14.0%FFIV FY2024: 20.1%FFIV FY2025: 22.4%FY18FY19FY20FY21FY22FY23FY24FY25
ATEN 14.5%FFIV 22.4%
Revenue growth
ATEN FY2019: -8.4%ATEN FY2020: +6.1%ATEN FY2021: +10.9%ATEN FY2022: +12.1%ATEN FY2022: -10.2%ATEN FY2024: +4.0%ATEN FY2025: +11.0%FFIV FY2019: +3.7%FFIV FY2020: +4.8%FFIV FY2021: +10.7%FFIV FY2022: +3.6%FFIV FY2023: +4.4%FFIV FY2024: +0.1%FFIV FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
ATEN +11.0%FFIV +9.7%
Free cash flow
ATEN FY2018: -$5.5MATEN FY2019: -$4.8MATEN FY2020: $51.7MATEN FY2021: $44.9MATEN FY2022: $55.3MATEN FY2022: $33.6MATEN FY2024: $78.2MATEN FY2025: $64.8MFFIV FY2018: $707.6MFFIV FY2019: $644.3MFFIV FY2020: $601MFFIV FY2021: $614.5MFFIV FY2022: $409MFFIV FY2023: $599.2MFFIV FY2024: $762MFFIV FY2025: $906.4MFY18FY19FY20FY21FY22FY23FY24FY25
ATEN $64.8MFFIV $906.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about A10 Networks and F5

Which is bigger by revenue, A10 Networks or F5?

F5 is bigger by revenue: $3.1B in fiscal 2025, against $290.6M for A10 Networks in fiscal 2025.

Which keeps more of its revenue as profit, A10 Networks or F5?

A10 Networks had a net margin of 14.5% in fiscal 2025; F5 had 22.4% in fiscal 2025.

Which grew revenue faster, A10 Networks or F5?

In their latest fiscal years revenue changed by +11.0% at A10 Networks and +9.7% at F5.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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