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Side-by-side financial comparison of F5, Inc. (FFIV) and PACS Group, Inc. (PACS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $811.7M, roughly 1.7× F5, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 4.4%, a 13.8% gap on every dollar of revenue. On growth, PACS Group, Inc. posted the faster year-over-year revenue change (18.4% vs 11.0%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% 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.
FFIV vs PACS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $811.7M | $1.4B |
| Net Profit | $148.0M | $59.7M |
| Gross Margin | 81.4% | — |
| Operating Margin | 22.1% | 7.0% |
| Net Margin | 18.2% | 4.4% |
| Revenue YoY | 11.0% | 18.4% |
| Net Profit YoY | 1.5% | 3022.5% |
| EPS (diluted) | $2.58 | $0.42 |
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 | $1.4B | ||
| Q3 25 | $810.1M | $1.3B | ||
| Q2 25 | $780.4M | $1.3B | ||
| Q1 25 | $731.1M | $1.3B | ||
| Q4 24 | $766.5M | $1.1B | ||
| Q3 24 | $746.7M | $1.0B | ||
| Q2 24 | $695.5M | $981.4M |
| Q1 26 | $148.0M | — | ||
| Q4 25 | $180.1M | $59.7M | ||
| Q3 25 | $190.5M | $52.4M | ||
| Q2 25 | $189.9M | $51.0M | ||
| Q1 25 | $145.5M | $28.5M | ||
| Q4 24 | $166.4M | $1.9M | ||
| Q3 24 | $165.3M | $15.6M | ||
| Q2 24 | $144.1M | $-10.9M |
| 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% | 17.1% | ||
| Q2 24 | 80.4% | 22.3% |
| Q1 26 | 22.1% | — | ||
| Q4 25 | 26.0% | 7.0% | ||
| Q3 25 | 25.4% | 6.4% | ||
| Q2 25 | 25.2% | 6.2% | ||
| Q1 25 | 21.7% | 3.8% | ||
| Q4 24 | 26.8% | 1.7% | ||
| Q3 24 | 25.6% | 2.2% | ||
| Q2 24 | 23.4% | 0.1% |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 21.9% | 4.4% | ||
| Q3 25 | 23.5% | 3.9% | ||
| Q2 25 | 24.3% | 3.9% | ||
| Q1 25 | 19.9% | 2.2% | ||
| Q4 24 | 21.7% | 0.2% | ||
| Q3 24 | 22.1% | 1.5% | ||
| Q2 24 | 20.7% | -1.1% |
| Q1 26 | $2.58 | — | ||
| Q4 25 | $3.10 | $0.42 | ||
| Q3 25 | $3.25 | $0.32 | ||
| Q2 25 | $3.25 | $0.31 | ||
| Q1 25 | $2.48 | $0.17 | ||
| Q4 24 | $2.82 | $-0.03 | ||
| Q3 24 | $2.79 | $0.10 | ||
| Q2 24 | $2.44 | $-0.07 |
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 | $197.0M |
| Total DebtLower is stronger | — | $353.2M |
| Stockholders' EquityBook value | $3.6B | $946.8M |
| Total Assets | $6.5B | $5.6B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.2B | $197.0M | ||
| Q3 25 | $1.3B | $355.7M | ||
| Q2 25 | $1.4B | $294.2M | ||
| Q1 25 | $1.3B | $287.5M | ||
| Q4 24 | $1.2B | $157.7M | ||
| Q3 24 | $1.1B | $49.5M | ||
| Q2 24 | $935.6M | $73.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $353.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $411.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.5B | $946.8M | ||
| Q3 25 | $3.6B | $871.3M | ||
| Q2 25 | $3.5B | $806.8M | ||
| Q1 25 | $3.3B | $750.2M | ||
| Q4 24 | $3.2B | $709.6M | ||
| Q3 24 | $3.1B | $660.0M | ||
| Q2 24 | $3.0B | $572.1M |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.3B | $5.6B | ||
| Q3 25 | $6.3B | $5.6B | ||
| Q2 25 | $6.1B | $5.5B | ||
| Q1 25 | $5.9B | $5.5B | ||
| Q4 24 | $5.9B | $5.2B | ||
| Q3 24 | $5.6B | $4.5B | ||
| Q2 24 | $5.4B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| 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 | $-3.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.55× | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $525.1M | — | ||
| Q4 25 | $159.2M | $-3.4M | ||
| Q3 25 | $208.1M | $204.8M | ||
| Q2 25 | $282.2M | $52.6M | ||
| Q1 25 | $256.6M | $150.2M | ||
| Q4 24 | $202.8M | $64.6M | ||
| Q3 24 | $246.5M | $209.2M | ||
| Q2 24 | $159.0M | $34.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | 3.55× | — | ||
| Q4 25 | 0.88× | -0.06× | ||
| Q3 25 | 1.09× | 3.91× | ||
| Q2 25 | 1.49× | 1.03× | ||
| Q1 25 | 1.76× | 5.28× | ||
| Q4 24 | 1.22× | 33.78× | ||
| Q3 24 | 1.49× | 13.39× | ||
| Q2 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
