F5 vs Lumentum
F5 reported revenue of $3.1 billion in fiscal 2025, about the same as Lumentum's $3.0 billion in fiscal 2026. F5's revenue grew 9.7% in its latest year, and Lumentum's grew 83.2%. F5 had an operating margin of 24.8%, against 17.4% at Lumentum. Free cash flow was $906 million at F5 and $300 million at Lumentum. Their fiscal years end in different months (September 30 and June 27), so the periods don't line up exactly.
Side by side
| F5 | Lumentum | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2026, Jun 27, 2026 |
| Revenue | $3.1B | $3.0B |
| Revenue growth | 9.7% | 83.2% |
| Revenue growth a year, last 5 years | 5.6% | 11.6% |
| Gross margin | 81.4% | 41.7% |
| Operating margin | 24.8% | 17.4% |
| Net margin | 22.4% | −230.1% |
| Free cash flow | $906M | $300M |
| Free cash flow margin | 29.4% | 10.0% |
| Return on capital | 30.5% | 10.4% |
| Net debt to EBITDA | −1.6x | 0.6x |
| Dividends and buybacks | $502M | $0M |
| Change in diluted share count | −1.1% | 7.2% |
| Last close | $461.60 | $818.10 |
| P/E at the last close | 36.8× | — |
| Insider trades, last 12 months | sold $29.1 million | sold $175.8 million |
| Piotroski F-score | 8 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
F5Lumentum
Operating margin
Percent of revenue
F5Lumentum
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
F5Lumentum