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Side-by-side financial comparison of F5, Inc. (FFIV) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($811.7M vs $792.0M, roughly 1.0× Global Business Travel Group, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 10.5%, a 7.8% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 11.0%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 8.0%).
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
FFIV vs GBTG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $811.7M | $792.0M |
| Net Profit | $148.0M | $83.0M |
| Gross Margin | 81.4% | — |
| Operating Margin | 22.1% | 3.7% |
| Net Margin | 18.2% | 10.5% |
| Revenue YoY | 11.0% | 34.0% |
| Net Profit YoY | 1.5% | 692.9% |
| EPS (diluted) | $2.58 | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $811.7M | — | ||
| Q4 25 | $822.5M | $792.0M | ||
| Q3 25 | $810.1M | $674.0M | ||
| Q2 25 | $780.4M | $631.0M | ||
| Q1 25 | $731.1M | $621.0M | ||
| Q4 24 | $766.5M | $591.0M | ||
| Q3 24 | $746.7M | $597.0M | ||
| Q2 24 | $695.5M | $625.0M |
| Q1 26 | $148.0M | — | ||
| Q4 25 | $180.1M | $83.0M | ||
| Q3 25 | $190.5M | $-62.0M | ||
| Q2 25 | $189.9M | $15.0M | ||
| Q1 25 | $145.5M | $75.0M | ||
| Q4 24 | $166.4M | $-14.0M | ||
| Q3 24 | $165.3M | $-128.0M | ||
| Q2 24 | $144.1M | $27.0M |
| Q1 26 | 81.4% | — | ||
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 81.0% | — | ||
| Q1 25 | 80.7% | — | ||
| Q4 24 | 81.7% | — | ||
| Q3 24 | 80.8% | — | ||
| Q2 24 | 80.4% | — |
| Q1 26 | 22.1% | — | ||
| Q4 25 | 26.0% | 3.7% | ||
| Q3 25 | 25.4% | 1.8% | ||
| Q2 25 | 25.2% | 5.4% | ||
| Q1 25 | 21.7% | 8.9% | ||
| Q4 24 | 26.8% | 5.1% | ||
| Q3 24 | 25.6% | 4.5% | ||
| Q2 24 | 23.4% | 6.7% |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 21.9% | 10.5% | ||
| Q3 25 | 23.5% | -9.2% | ||
| Q2 25 | 24.3% | 2.4% | ||
| Q1 25 | 19.9% | 12.1% | ||
| Q4 24 | 21.7% | -2.4% | ||
| Q3 24 | 22.1% | -21.4% | ||
| Q2 24 | 20.7% | 4.3% |
| Q1 26 | $2.58 | — | ||
| Q4 25 | $3.10 | $0.16 | ||
| Q3 25 | $3.25 | $-0.13 | ||
| Q2 25 | $3.25 | $0.03 | ||
| Q1 25 | $2.48 | $0.16 | ||
| Q4 24 | $2.82 | $-0.04 | ||
| Q3 24 | $2.79 | $-0.28 | ||
| Q2 24 | $2.44 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $3.6B | $1.6B |
| Total Assets | $6.5B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.2B | $434.0M | ||
| Q3 25 | $1.3B | $427.0M | ||
| Q2 25 | $1.4B | $601.0M | ||
| Q1 25 | $1.3B | $552.0M | ||
| Q4 24 | $1.2B | $536.0M | ||
| Q3 24 | $1.1B | $524.0M | ||
| Q2 24 | $935.6M | $515.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.5B | $1.6B | ||
| Q3 25 | $3.6B | $1.5B | ||
| Q2 25 | $3.5B | $1.2B | ||
| Q1 25 | $3.3B | $1.1B | ||
| Q4 24 | $3.2B | $1.1B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $3.0B | $1.2B |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.3B | $4.9B | ||
| Q3 25 | $6.3B | $4.8B | ||
| Q2 25 | $6.1B | $3.9B | ||
| Q1 25 | $5.9B | $3.8B | ||
| Q4 24 | $5.9B | $3.6B | ||
| Q3 24 | $5.6B | $3.8B | ||
| Q2 24 | $5.4B | $3.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $525.1M | $52.0M |
| Free Cash FlowOCF − Capex | — | $13.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | 3.55× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $525.1M | — | ||
| Q4 25 | $159.2M | $52.0M | ||
| Q3 25 | $208.1M | $71.0M | ||
| Q2 25 | $282.2M | $57.0M | ||
| Q1 25 | $256.6M | $53.0M | ||
| Q4 24 | $202.8M | $65.0M | ||
| Q3 24 | $246.5M | $85.0M | ||
| Q2 24 | $159.0M | $73.0M |
| Q1 26 | — | — | ||
| Q4 25 | $149.5M | $13.0M | ||
| Q3 25 | $191.9M | $38.0M | ||
| Q2 25 | $273.7M | $27.0M | ||
| Q1 25 | $246.1M | $26.0M | ||
| Q4 24 | $194.7M | $33.0M | ||
| Q3 24 | $240.4M | $59.0M | ||
| Q2 24 | $153.1M | $49.0M |
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | 1.6% | ||
| Q3 25 | 23.7% | 5.6% | ||
| Q2 25 | 35.1% | 4.3% | ||
| Q1 25 | 33.7% | 4.2% | ||
| Q4 24 | 25.4% | 5.6% | ||
| Q3 24 | 32.2% | 9.9% | ||
| Q2 24 | 22.0% | 7.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 4.9% | ||
| Q3 25 | 2.0% | 4.9% | ||
| Q2 25 | 1.1% | 4.8% | ||
| Q1 25 | 1.4% | 4.3% | ||
| Q4 24 | 1.1% | 5.4% | ||
| Q3 24 | 0.8% | 4.4% | ||
| Q2 24 | 0.8% | 3.8% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | 0.88× | 0.63× | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.49× | 3.80× | ||
| Q1 25 | 1.76× | 0.71× | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.10× | 2.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFIV
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
