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Side-by-side financial comparison of F5, Inc. (FFIV) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $811.7M, roughly 1.5× F5, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 8.7%, a 9.5% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (11.0% vs 0.4%). Over the past eight quarters, F5, Inc.'s revenue compounded faster (8.0% CAGR vs 4.2%).
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.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
FFIV vs GHC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $811.7M | $1.3B |
| Net Profit | $148.0M | $108.7M |
| Gross Margin | 81.4% | — |
| Operating Margin | 22.1% | 3.8% |
| Net Margin | 18.2% | 8.7% |
| Revenue YoY | 11.0% | 0.4% |
| Net Profit YoY | 1.5% | -80.2% |
| EPS (diluted) | $2.58 | $24.76 |
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 | $1.3B | ||
| Q3 25 | $810.1M | $1.3B | ||
| Q2 25 | $780.4M | $1.2B | ||
| Q1 25 | $731.1M | $1.2B | ||
| Q4 24 | $766.5M | $1.2B | ||
| Q3 24 | $746.7M | $1.2B | ||
| Q2 24 | $695.5M | $1.2B |
| Q1 26 | $148.0M | — | ||
| Q4 25 | $180.1M | $108.7M | ||
| Q3 25 | $190.5M | $122.9M | ||
| Q2 25 | $189.9M | $36.7M | ||
| Q1 25 | $145.5M | $23.9M | ||
| Q4 24 | $166.4M | $548.8M | ||
| Q3 24 | $165.3M | $72.5M | ||
| Q2 24 | $144.1M | $-21.0M |
| 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% | 3.8% | ||
| Q3 25 | 25.4% | 5.2% | ||
| Q2 25 | 25.2% | 6.0% | ||
| Q1 25 | 21.7% | 4.1% | ||
| Q4 24 | 26.8% | 5.8% | ||
| Q3 24 | 25.6% | 6.8% | ||
| Q2 24 | 23.4% | 2.2% |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 21.9% | 8.7% | ||
| Q3 25 | 23.5% | 9.6% | ||
| Q2 25 | 24.3% | 3.0% | ||
| Q1 25 | 19.9% | 2.0% | ||
| Q4 24 | 21.7% | 44.1% | ||
| Q3 24 | 22.1% | 6.0% | ||
| Q2 24 | 20.7% | -1.8% |
| Q1 26 | $2.58 | — | ||
| Q4 25 | $3.10 | $24.76 | ||
| Q3 25 | $3.25 | $27.91 | ||
| Q2 25 | $3.25 | $8.35 | ||
| Q1 25 | $2.48 | $5.45 | ||
| Q4 24 | $2.82 | $124.05 | ||
| Q3 24 | $2.79 | $16.42 | ||
| Q2 24 | $2.44 | $-4.79 |
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 | $267.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $4.8B |
| Total Assets | $6.5B | $8.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.2B | $267.0M | ||
| Q3 25 | $1.3B | $190.8M | ||
| Q2 25 | $1.4B | $176.2M | ||
| Q1 25 | $1.3B | $156.7M | ||
| Q4 24 | $1.2B | $260.9M | ||
| Q3 24 | $1.1B | $244.4M | ||
| Q2 24 | $935.6M | $140.7M |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.5B | $4.8B | ||
| Q3 25 | $3.6B | $4.5B | ||
| Q2 25 | $3.5B | $4.4B | ||
| Q1 25 | $3.3B | $4.3B | ||
| Q4 24 | $3.2B | $4.3B | ||
| Q3 24 | $3.1B | $4.0B | ||
| Q2 24 | $3.0B | $4.0B |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.3B | $8.4B | ||
| Q3 25 | $6.3B | $7.9B | ||
| Q2 25 | $6.1B | $7.6B | ||
| Q1 25 | $5.9B | $7.6B | ||
| Q4 24 | $5.9B | $7.7B | ||
| Q3 24 | $5.6B | $7.4B | ||
| Q2 24 | $5.4B | $7.2B |
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 | $28.3M |
| Free Cash FlowOCF − Capex | — | $5.0M |
| FCF MarginFCF / Revenue | — | 0.4% |
| Capex IntensityCapex / Revenue | — | 1.9% |
| Cash ConversionOCF / Net Profit | 3.55× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $525.1M | — | ||
| Q4 25 | $159.2M | $28.3M | ||
| Q3 25 | $208.1M | $178.1M | ||
| Q2 25 | $282.2M | $94.8M | ||
| Q1 25 | $256.6M | $46.0M | ||
| Q4 24 | $202.8M | $116.3M | ||
| Q3 24 | $246.5M | $237.6M | ||
| Q2 24 | $159.0M | $52.0M |
| Q1 26 | — | — | ||
| Q4 25 | $149.5M | $5.0M | ||
| Q3 25 | $191.9M | $161.8M | ||
| Q2 25 | $273.7M | $78.0M | ||
| Q1 25 | $246.1M | $30.5M | ||
| Q4 24 | $194.7M | $91.1M | ||
| Q3 24 | $240.4M | $219.4M | ||
| Q2 24 | $153.1M | $33.7M |
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | 0.4% | ||
| Q3 25 | 23.7% | 12.6% | ||
| Q2 25 | 35.1% | 6.4% | ||
| Q1 25 | 33.7% | 2.6% | ||
| Q4 24 | 25.4% | 7.3% | ||
| Q3 24 | 32.2% | 18.2% | ||
| Q2 24 | 22.0% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 1.9% | ||
| Q3 25 | 2.0% | 1.3% | ||
| Q2 25 | 1.1% | 1.4% | ||
| Q1 25 | 1.4% | 1.3% | ||
| Q4 24 | 1.1% | 2.0% | ||
| Q3 24 | 0.8% | 1.5% | ||
| Q2 24 | 0.8% | 1.5% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | 0.88× | 0.26× | ||
| Q3 25 | 1.09× | 1.45× | ||
| Q2 25 | 1.49× | 2.58× | ||
| Q1 25 | 1.76× | 1.93× | ||
| Q4 24 | 1.22× | 0.21× | ||
| Q3 24 | 1.49× | 3.28× | ||
| Q2 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFIV
Segment breakdown not available.
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
