FFIV vs. FLEX: F5 vs. Flex Stock Comparison

November 11, 2026

How do F5 (FFIV) and Flex (FLEX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

F5 (FFIV) and Flex (FLEX) both fall under the Technology Hardware & Equipment industry group, but FFIV is classified in Communications Equipment while FLEX is classified in Electronic Equipment, Instruments & Components.

Company profile comparison for F5 (FFIV) and Flex (FLEX)
Profile Item	FFIV	FLEX
Name	F5, Inc.	Flex Ltd.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Technology Hardware & Equipment	Technology Hardware & Equipment
GICS Industry	Communications Equipment	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Communications Equipment	Electronic Manufacturing Services
Market Capitalization	17.66 billion USD	25.78 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	June 4, 1999	March 18, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FFIV

FLEX

GSPC

F5 (FFIV) vs. Flex (FLEX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for F5 (FFIV) and Flex (FLEX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for F5 (FFIV) and Flex (FLEX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Total Return (1Y)	30.07%	24.99%
Total Return (3Y, Annualized)	27.03%	59.41%
Total Return (5Y, Annualized)	7.22%	42.37%

Risk Profile

Drawdown History

FFIV

FLEX

GSPC

F5 (FFIV) vs. Flex (FLEX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for F5 (FFIV) and Flex (FLEX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Volatility (1Y, Annualized)	40.81%	76.21%
Beta (5Y)	1.09	1.82
Max Drawdown (5Y)	-47.42%	-58.83%
Avg. Volume (3M)	692.80K	4.28M

Risk-Adjusted Performance

Risk-Return Positioning

FFIV and FLEX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Sharpe Ratio (1Y)	0.63	0.27
Sortino Ratio (1Y)	0.84	0.44

Profitability

ROE (TTM)

Both F5 (FFIV) at 19.01% and Flex (FLEX) at 19.13% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

FFIV

Technology Hardware & Equipment industry group

19.01%

Max: 42.47%
Q3: 19.13%
FFIV: 19.01%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

FLEX

Technology Hardware & Equipment industry group

19.13%

Max: 42.47%
FLEX: 19.13%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

F5 (FFIV) vs. Flex (FLEX): A comparison of their ROE against the Technology Hardware & Equipment industry group benchmark.

Net Margin (TTM)

F5 (FFIV) at 21.14% retains a top-quartile share of revenue as profit, ahead of Flex (FLEX) at 3.35%, which keeps about the industry-typical share.

FFIV

Technology Hardware & Equipment industry group

21.14%

Max: 27.60%
FFIV: 21.14%
Q3: 11.66%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

FLEX

Technology Hardware & Equipment industry group

3.35%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
FLEX: 3.35%
Q1: 0.00%
Min: -11.02%

F5 (FFIV) vs. Flex (FLEX): A comparison of their net margin against the Technology Hardware & Equipment industry group benchmark.

Operating Margin (TTM)

F5 (FFIV) at 23.99% operates in the top operating margin quartile, ahead of Flex (FLEX) at 5.05%, which runs around its industry’s norm.

FFIV

Technology Hardware & Equipment industry group

23.99%

Max: 36.27%
FFIV: 23.99%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

FLEX

Technology Hardware & Equipment industry group

5.05%

Max: 36.27%
Q3: 18.36%
Median: 8.84%
FLEX: 5.05%
Q1: 1.46%
Min: -21.39%

F5 (FFIV) vs. Flex (FLEX): A comparison of their operating margin against the Technology Hardware & Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
ROE (TTM)	19.01%	19.13%
ROA (TTM)	7.74%	4.39%
Net Margin (TTM)	21.14%	3.35%
Operating Margin (TTM)	23.99%	5.05%
Gross Margin (TTM)	81.98%	9.67%

Growth

Revenue Growth

Only one side can be read here: Flex (FLEX) reports revenue growth of 8.14%, ranked against its industry; F5 (FFIV) has no revenue growth figure this period.

F5 (FFIV) vs. Flex (FLEX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both F5 (FFIV) at 6.10% and Flex (FLEX) at 10.43% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

F5 (FFIV) vs. Flex (FLEX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Revenue Growth (YoY)	--	8.14%
Revenue Growth (3Y CAGR)	--	-0.69%
EPS Growth (YoY)	6.10%	10.43%
EPS Growth (3Y CAGR)	24.10%	10.65%

Financial Strength

Current Ratio (MRQ)

Both F5 (FFIV) at 1.73 and Flex (FLEX) at 1.34 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

FFIV

Technology Hardware & Equipment industry group

1.73

Max: 5.34
Q3: 3.02
Median: 1.95
FFIV: 1.73
Q1: 1.32
Min: 0.17

FLEX

Technology Hardware & Equipment industry group

1.34

Max: 5.34
Q3: 3.02
Median: 1.95
FLEX: 1.34
Q1: 1.32
Min: 0.17

F5 (FFIV) vs. Flex (FLEX): A comparison of their current ratio against the Technology Hardware & Equipment industry group benchmark.

Debt / Equity (MRQ)

F5 (FFIV) at 0.05 carries an industry-typical debt-to-equity mix, while Flex (FLEX) at 1.03 uses more debt funding than most peers.

FFIV

Technology Hardware & Equipment industry group

0.05

Max: 1.76
Q3: 0.78
Median: 0.24
FFIV: 0.05
Q1: 0.04
Min: 0.01

FLEX

Technology Hardware & Equipment industry group

1.03

Max: 1.76
FLEX: 1.03
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

F5 (FFIV) vs. Flex (FLEX): A comparison of their debt-to-equity ratio against the Technology Hardware & Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Current Ratio (MRQ)	1.73	1.34
Debt / Equity (MRQ)	0.05	1.03
Net Debt / EBITDA	-1.49	1.32

Dividends

Dividend Yield (TTM)

Neither F5 (FFIV) nor Flex (FLEX) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FFIV

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
FFIV: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

F5 (FFIV) vs. Flex (FLEX): A comparison of their dividend yield against the Technology Hardware & Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Neither F5 (FFIV) nor Flex (FLEX) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FFIV

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
FFIV: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

F5 (FFIV) vs. Flex (FLEX): A comparison of their payout ratio against the Technology Hardware & Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Both F5 (FFIV) at 24.83 and Flex (FLEX) at 25.10 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

FFIV

Technology Hardware & Equipment industry group

24.83

Max: 69.48
Q3: 41.02
Median: 26.39
FFIV: 24.83
Q1: 19.36
Min: 6.07

FLEX

Technology Hardware & Equipment industry group

25.10

Max: 69.48
Q3: 41.02
Median: 26.39
FLEX: 25.10
Q1: 19.36
Min: 6.07

F5 (FFIV) vs. Flex (FLEX): A comparison of their P/E ratio against the Technology Hardware & Equipment industry group benchmark.

P/S Ratio (TTM)

Flex (FLEX) at 0.83 sits in the cheaper P/S ratio quartile while F5 (FFIV) at 5.17 prices around its industry’s middle — FLEX costs less per dollar of sales, though read it alongside growth and margins.

FFIV

Technology Hardware & Equipment industry group

5.17

Max: 11.30
Q3: 5.82
FFIV: 5.17
Median: 2.56
Q1: 1.05
Min: 0.00

FLEX

Technology Hardware & Equipment industry group

0.83

Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
FLEX: 0.83
Min: 0.00

F5 (FFIV) vs. Flex (FLEX): A comparison of their P/S ratio against the Technology Hardware & Equipment industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both F5 (FFIV) at 4.41 and Flex (FLEX) at 4.44 are valued close to their industries’ norm against book — neither stands out from peers.

FFIV

Technology Hardware & Equipment industry group

4.41

Max: 10.75
Q3: 5.52
FFIV: 4.41
Median: 3.17
Q1: 1.79
Min: 0.33

FLEX

Technology Hardware & Equipment industry group

4.44

Max: 10.75
Q3: 5.52
FLEX: 4.44
Median: 3.17
Q1: 1.79
Min: 0.33

F5 (FFIV) vs. Flex (FLEX): A comparison of their P/B ratio against the Technology Hardware & Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for F5 (FFIV) and Flex (FLEX)
Metric	FFIV	FLEX
P/E Ratio (TTM)	24.83	25.10
P/S Ratio (TTM)	5.17	0.83
P/B Ratio (MRQ)	4.41	4.44
Free Cash Flow Yield (TTM)	3.63%	2.41%