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Side-by-side financial comparison of F5, Inc. (FFIV) and North American Construction Group Ltd. (NOA). Click either name above to swap in a different company.
North American Construction Group Ltd. is the larger business by last-quarter revenue ($860.2M vs $822.5M, roughly 1.0× F5, Inc.). F5, Inc. runs the higher net margin — 21.9% vs 4.7%, a 17.2% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% CAGR vs 9.9%).
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.
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
FFIV vs NOA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $860.2M |
| Net Profit | $180.1M | $40.5M |
| Gross Margin | 81.5% | 19.7% |
| Operating Margin | 26.0% | 15.4% |
| Net Margin | 21.9% | 4.7% |
| Revenue YoY | 7.3% | — |
| Net Profit YoY | 8.2% | — |
| 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.
| Q4 25 | $822.5M | — | ||
| Q3 25 | $810.1M | $860.2M | ||
| Q2 25 | $780.4M | $573.3M | ||
| Q1 25 | $731.1M | $297.0M | ||
| Q4 24 | $766.5M | — | ||
| Q3 24 | $746.7M | $636.4M | ||
| Q2 24 | $695.5M | $439.5M | ||
| Q1 24 | $681.4M | $244.3M |
| Q4 25 | $180.1M | — | ||
| Q3 25 | $190.5M | $40.5M | ||
| Q2 25 | $189.9M | $26.0M | ||
| Q1 25 | $145.5M | $11.5M | ||
| Q4 24 | $166.4M | — | ||
| Q3 24 | $165.3M | $45.5M | ||
| Q2 24 | $144.1M | $34.1M | ||
| Q1 24 | $119.0M | $21.8M |
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.2% | 19.7% | ||
| Q2 25 | 81.0% | 18.1% | ||
| Q1 25 | 80.7% | 18.0% | ||
| Q4 24 | 81.7% | — | ||
| Q3 24 | 80.8% | 14.0% | ||
| Q2 24 | 80.4% | 14.3% | ||
| Q1 24 | 79.3% | 16.8% |
| Q4 25 | 26.0% | — | ||
| Q3 25 | 25.4% | 15.4% | ||
| Q2 25 | 25.2% | 13.6% | ||
| Q1 25 | 21.7% | 13.0% | ||
| Q4 24 | 26.8% | — | ||
| Q3 24 | 25.6% | 7.9% | ||
| Q2 24 | 23.4% | 8.2% | ||
| Q1 24 | 20.5% | 10.5% |
| Q4 25 | 21.9% | — | ||
| Q3 25 | 23.5% | 4.7% | ||
| Q2 25 | 24.3% | 4.5% | ||
| Q1 25 | 19.9% | 3.9% | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 22.1% | 7.1% | ||
| Q2 24 | 20.7% | 7.8% | ||
| Q1 24 | 17.5% | 8.9% |
| Q4 25 | $3.10 | — | ||
| Q3 25 | $3.25 | — | ||
| Q2 25 | $3.25 | — | ||
| Q1 25 | $2.48 | — | ||
| Q4 24 | $2.82 | — | ||
| Q3 24 | $2.79 | — | ||
| Q2 24 | $2.44 | — | ||
| Q1 24 | $2.00 | — |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.5B | — |
| Total Assets | $6.3B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $935.6M | — | ||
| Q1 24 | $903.5M | — |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.6B | — | ||
| Q2 25 | $3.5B | — | ||
| Q1 25 | $3.3B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $6.3B | — | ||
| Q3 25 | $6.3B | $1.7B | ||
| Q2 25 | $6.1B | $1.7B | ||
| Q1 25 | $5.9B | $1.7B | ||
| Q4 24 | $5.9B | — | ||
| Q3 24 | $5.6B | $1.5B | ||
| Q2 24 | $5.4B | $1.5B | ||
| Q1 24 | $5.4B | $1.5B |
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 | $140.7M |
| Free Cash FlowOCF − Capex | $149.5M | — |
| FCF MarginFCF / Revenue | 18.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 0.88× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $861.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $159.2M | — | ||
| Q3 25 | $208.1M | $140.7M | ||
| Q2 25 | $282.2M | $85.4M | ||
| Q1 25 | $256.6M | $19.0M | ||
| Q4 24 | $202.8M | — | ||
| Q3 24 | $246.5M | $109.5M | ||
| Q2 24 | $159.0M | $72.0M | ||
| Q1 24 | $221.6M | $31.8M |
| Q4 25 | $149.5M | — | ||
| Q3 25 | $191.9M | — | ||
| Q2 25 | $273.7M | — | ||
| Q1 25 | $246.1M | — | ||
| Q4 24 | $194.7M | — | ||
| Q3 24 | $240.4M | — | ||
| Q2 24 | $153.1M | — | ||
| Q1 24 | $212.2M | — |
| Q4 25 | 18.2% | — | ||
| Q3 25 | 23.7% | — | ||
| Q2 25 | 35.1% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 22.0% | — | ||
| Q1 24 | 31.1% | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 1.4% | — |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.09× | 3.47× | ||
| Q2 25 | 1.49× | 3.28× | ||
| Q1 25 | 1.76× | 1.65× | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 1.49× | 2.41× | ||
| Q2 24 | 1.10× | 2.11× | ||
| Q1 24 | 1.86× | 1.46× |
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% |
NOA
Segment breakdown not available.
