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Side-by-side financial comparison of F5, Inc. (FFIV) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($822.5M vs $420.0M, roughly 2.0× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 21.9%, a 35.1% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (7.3% vs 6.3%). Over the past eight quarters, F5, Inc.'s revenue compounded faster (9.9% CAGR vs 5.0%).
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.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
FFIV vs GLPI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $420.0M |
| Net Profit | $180.1M | $239.4M |
| Gross Margin | 81.5% | — |
| Operating Margin | 26.0% | 79.4% |
| Net Margin | 21.9% | 57.0% |
| Revenue YoY | 7.3% | 6.3% |
| Net Profit YoY | 8.2% | 40.5% |
| EPS (diluted) | $3.10 | — |
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 | — | $420.0M | ||
| Q4 25 | $822.5M | $407.0M | ||
| Q3 25 | $810.1M | $397.6M | ||
| Q2 25 | $780.4M | $394.9M | ||
| Q1 25 | $731.1M | $395.2M | ||
| Q4 24 | $766.5M | $389.6M | ||
| Q3 24 | $746.7M | $385.3M | ||
| Q2 24 | $695.5M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $180.1M | $275.4M | ||
| Q3 25 | $190.5M | $241.2M | ||
| Q2 25 | $189.9M | $151.4M | ||
| Q1 25 | $145.5M | $165.2M | ||
| Q4 24 | $166.4M | $223.6M | ||
| Q3 24 | $165.3M | $184.7M | ||
| Q2 24 | $144.1M | $208.3M |
| Q1 26 | — | — | ||
| 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 | — | 79.4% | ||
| Q4 25 | 26.0% | 89.3% | ||
| Q3 25 | 25.4% | 84.8% | ||
| Q2 25 | 25.2% | 61.3% | ||
| Q1 25 | 21.7% | 65.5% | ||
| Q4 24 | 26.8% | 79.1% | ||
| Q3 24 | 25.6% | 70.4% | ||
| Q2 24 | 23.4% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | 21.9% | 67.6% | ||
| Q3 25 | 23.5% | 60.7% | ||
| Q2 25 | 24.3% | 38.4% | ||
| Q1 25 | 19.9% | 41.8% | ||
| Q4 24 | 21.7% | 57.4% | ||
| Q3 24 | 22.1% | 47.9% | ||
| Q2 24 | 20.7% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $3.10 | $0.96 | ||
| Q3 25 | $3.25 | $0.85 | ||
| Q2 25 | $3.25 | $0.54 | ||
| Q1 25 | $2.48 | $0.60 | ||
| Q4 24 | $2.82 | $0.79 | ||
| Q3 24 | $2.79 | $0.67 | ||
| Q2 24 | $2.44 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $274.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.5B | $5.0B |
| Total Assets | $6.3B | $13.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | $560.8M | ||
| Q3 24 | $1.1B | $560.8M | ||
| Q2 24 | $935.6M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $3.5B | $4.6B | ||
| Q3 25 | $3.6B | $4.6B | ||
| Q2 25 | $3.5B | $4.6B | ||
| Q1 25 | $3.3B | $4.2B | ||
| Q4 24 | $3.2B | $4.3B | ||
| Q3 24 | $3.1B | $4.3B | ||
| Q2 24 | $3.0B | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $6.3B | $12.9B | ||
| Q3 25 | $6.3B | $12.8B | ||
| Q2 25 | $6.1B | $12.5B | ||
| Q1 25 | $5.9B | $12.1B | ||
| Q4 24 | $5.9B | $13.1B | ||
| Q3 24 | $5.6B | $12.7B | ||
| Q2 24 | $5.4B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
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 | $159.2M | — |
| Free Cash FlowOCF − Capex | $149.5M | — |
| FCF MarginFCF / Revenue | 18.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 0.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | $861.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $159.2M | $1.1B | ||
| Q3 25 | $208.1M | $240.3M | ||
| Q2 25 | $282.2M | $293.4M | ||
| Q1 25 | $256.6M | $252.5M | ||
| Q4 24 | $202.8M | $1.1B | ||
| Q3 24 | $246.5M | $270.4M | ||
| Q2 24 | $159.0M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $149.5M | — | ||
| Q3 25 | $191.9M | $183.0M | ||
| Q2 25 | $273.7M | $272.3M | ||
| Q1 25 | $246.1M | $239.6M | ||
| Q4 24 | $194.7M | $1.1B | ||
| Q3 24 | $240.4M | $261.5M | ||
| Q2 24 | $153.1M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | — | ||
| Q3 25 | 23.7% | 46.0% | ||
| Q2 25 | 35.1% | 69.0% | ||
| Q1 25 | 33.7% | 60.6% | ||
| Q4 24 | 25.4% | 275.3% | ||
| Q3 24 | 32.2% | 67.9% | ||
| Q2 24 | 22.0% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 2.0% | 14.4% | ||
| Q2 25 | 1.1% | 5.3% | ||
| Q1 25 | 1.4% | 3.3% | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 0.8% | 2.3% | ||
| Q2 24 | 0.8% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.88× | 4.10× | ||
| Q3 25 | 1.09× | 1.00× | ||
| Q2 25 | 1.49× | 1.94× | ||
| Q1 25 | 1.76× | 1.53× | ||
| Q4 24 | 1.22× | 4.80× | ||
| Q3 24 | 1.49× | 1.46× | ||
| Q2 24 | 1.10× | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
GLPI
Segment breakdown not available.
