Symbol	ffiv		Price	51.73	Country	USA	EV	3783.9	Cash/shr%	7.7%	COMPR	90.34	P/S					6.04
	Name	F5 Networks, Inc.		Cap	4101.0	Float	78.1	EV		EV/EBITDA	14.46	EPSR	78.65	Trail EBITDA					152.7
	Industry	Internet		Rank	60	Short%	0.4%	PB	5.13	PE	41.38	PE*4	35.92	Est. EBITDA					261.7
	SubIndustry	Internet Infrastr Sftwr		Rank	161	ShortRatio	0.57	PB less	7.23	PE	35.68	PE*4	24.87
	10Q2	11Q1	10Q4	10Q3	10Q2	10Q1	09Q4	09Q3	09Q2	09Q1	08Q4	08Q3	08Q2	08Q1	07Q4	07Q3	07Q2	07Q1	06Q4	06Q3	06Q2	06Q1
	Growth Rate%
	Revenue		29.7		15.5	2.3	-4.4	-3.1	7.4	17.6	25.0	24.7	28.5	30.3
	Dil EPS Ex. Extro Items		-369.3		33.3	50.0	26.1	14.3	28.6	60.0	-11.5	-12.5	-19.2	-28.6
	Dil Normalized EPS				92.6	24.1	26.1	33.3	28.6	-6.5	-11.5	-12.5	-19.2	47.6
	Leverage
	SGA/EBIT		0.0		2.9	2.8	3.2	3.7	3.8	3.9	3.7	4.1	4.1	4.1	3.1	3.2	2.9	3.1
	Income Statement
			10Q2		10Q1	09Q4	09Q3	09Q2	09Q1	08Q4	08Q3	08Q2	08Q1	07Q4	07Q3	07Q2	07Q1	06Q4
	Revenue		200.00		191.20	175.13	158.23	154.15	165.57	171.26	165.59	159.14	154.18	145.61	132.43	127.61	120.03	111.72
	Gross Profit	0.00			152.03	138.67	124.57	117.57	129.55	132.35	127.41	122.45	118.94	112.26	102.79	98.79	93.51	86.94
	Gross Margin%		0.0%		79.5%	79.2%	78.7%	76.3%	78.2%	77.3%	76.9%	76.9%	77.1%	77.1%	77.6%	77.4%	77.9%	77.9%
	SGA	0	73.01		81.595	73.01	68.19	63.99	75.24	75.09	73.94	72.54	71.6	59.36	57.53	56.04	51.87	49.48
	SGA%		36.5%		42.7%	41.7%	43.1%	41.5%	45.4%	43.8%	44.7%	45.6%	46.4%	40.8%	43.4%	43.9%	43.2%	43.2%
	DA					NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
	Research/Others				26.72	25.51	25.07	25.98	27.11	26.37	26.28	26.41	24.33	19.93	17.48	17.09	14.55	13.90
	Research%		0.0%		14.0%	14.6%	15.8%	16.9%	16.4%	15.4%	15.9%	16.6%	15.8%	13.7%	13.2%	13.4%	12.1%	12.1%
	Unusual Expense					0	0	4.33	0	5.27	0	0	0	14	0	0	0	0
	Total Expenses		73.01			98.52	93.26	94.30	102.35	106.73	100.22	98.95	95.93	93.29	75.01	73.13	66.42	63.38
	EBITDA				43.71	40.15	31.31	27.60	27.20	30.89	27.19	23.50	23.01	32.97	27.78	25.66	27.09	23.56
	EBIT	0	-73.01		43.712	40.15	31.31	23.27	27.2	25.62	27.19	23.5	23.01	18.97	27.78	25.66	27.09	23.56
	EBIT%		-36.5%		22.9%	22.9%	19.8%	15.1%	16.4%	15.0%	16.4%	14.8%	14.9%	13.0%	21.0%	20.1%	22.6%	21.1%
	Interet Expense					NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
	Int/Invest Income					NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
	Int Income(Expense)					NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
	Others,Net					1.68	3.03	2.14	2.88	3.51	3.72	5.59	6.13	7.36	7.18	7.23	6.43	5.82
	Total Other Inc(Exp)		1.68		1.705	1.68	3.03	2.14	2.88	3.51	3.72	5.59	6.13	7.36	57.53
	Income Before Tax		-74.69		45.417	41.83	34.33	25.41	30.08	29.13	30.9	29.09	29.14	26.32	34.95	32.89	33.53	29.39
	Tax				16.138	13.48	11.56	6.42	8.66	9.43	11.77	11.34	11.39	13.44	13.15	12.93	11.17	11.63
	Tax Rate		32%		36%	32%	34%	25%	29%	32%	38%	39%	39%	51%	5753%
	Income After Tax		-50.62		29.279	28.35	22.78	18.99	21.42	19.7	19.13	17.75	17.75	12.88	21.81	19.96	22.35	17.75
	Net Income B4 Extra. Items					28.35	22.78	18.99	21.42	19.7	19.13	17.75	17.75	12.88	21.81	19.96	22.35	17.75
	Total Adj  to Net Income					NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
	Diluted Net Income		-50.62		29.279	28.35	22.78	18.99	21.42	19.7	19.13	17.75	17.75	12.88	21.81	19.96	22.35	17.75
	Profit Margin%		-25.3%		15.3%	16.2%	14.4%	12.3%	12.9%	11.5%	11.6%	11.2%	11.5%	8.8%	5753.0%
	Dil EPS Ex. Extro Items		-0.646		0.36	0.36	0.29	0.24	0.27	0.24	0.23	0.21	0.21	0.15	0.26	0.24	0.26	0.21
	Dil EPS Inc. Extror Items					0.36	0.29	0.24	0.27	0.24	0.23	0.21	0.21	0.15	0.26	0.24	0.26	0.21
	Total Special Itmes					0	0	4.33	0	5.27	0	0	0	14	0	0	0	0
	Normalized Income B4 Tax					41.83	34.33	29.74	30.08	34.4	30.9	29.09	29.14	40.32	34.95	32.89	33.53	29.39
	Diluted Normalized EPS		0.54		0.52	0.36	0.29	0.28	0.27	0.29	0.23	0.21	0.21	0.31	0.26	0.24	0.26	0.21
	Total Shares Outstandings					78.32	78.51	78.13	79.01	79.09	80.23	81.23	84.94	84.38
	PE Diluted EPS				1.25	1.16	1.04	0.98	0.95	0.89	0.80	0.83	0.86	0.91	0.97
	PE Normalized EPS				1.45	1.20	1.13	1.07	1.00	0.94	0.96	0.99	1.02	1.07	0.97
	OCF/NI					2.07	2.03	2.06	2.70	2.99	2.92	2.08	2.37	3.70
	FCF/NI					1.95	1.95	1.89	2.52	2.75	2.25	1.77	2.09	3.33
	Balance Sheet
	Cash and ST Investments					317.13	264.07	258.52	278.49	190.19	267.3	331.38	350.52	258.46
	Accounts Receivables, Net					106.97	91.64	90.07	100.47	97.06	98.06	101.8	98.76	91.77
	Total Inventory					13.82	13.59	15.04	15.56	10.15	9.66	8.58	10.19	10.67
	Other Current Assets, Total					30.26	32.15	396.42	28.68	25.98	33.04	34.81	24.8	25.74
	Total Current Assets					468.18	401.45	42.85	423.2	323.37	408.06	476.56	484.28	386.65
	PPE, Net					39.37	40.24	231.89	46.6	47.56	47.63	40.72	37.23	36.02
	Goodwill, Net					231.88	231.89	NA	231.89	231.89	231.89	231.97	234	234
	Intangibles, Net					NA	NA	240.57	NA	NA	NA	NA	NA	NA
	Long Term Investments					257.29	273.86	32.8	208.95	261.09	179.59	118.36	166.94	216.37
	Other Long Term Assets, Total					71.92	70.15	71.22	75.78	75.32	67.3	70.38	69.96	71.25
	Other Assets, Total					NA	NA	NA	NA	NA	NA	NA	NA	NA
	Total Non-Current Assets					600.46	616.14	576.48	563.22	615.86	526.41	461.43	508.13	557.64
	Total Assets					1068.65	1017.59	982.96	986.42	939.22	934.47	937.98	992.41	944.29
	Total Short Term Debt
	Total Current Liabilities					223.01	202.16	199.04	208.18	186.82	169.24	161.24	156	153.41
	Total Long Term Debt					0	0	0	0	0	0	0	0	0
	Other Liabilities, Total					46.61	41.02	39.41	37.63	34.14	32.74	32.16	26.37	20.3
	Total Non-Current Liabilities					46.61	41.02	39.41	37.63	34.14	32.74	32.16	26.37	20.3
	Total Liabilities					269.62	243.18	238.45	245.81	220.96	201.98	193.4	182.37	173.71
	Total Equity					799.02	774.41	744.52	740.61	718.26	732.49	744.58	810.04	770.58
	Cash Flow
	Depreciation/Depletion					5.98	6.24	7.71	6.48	6.26	6.04	5.84	5.49	4.55
	Amortization					NA	NA	NA	NA	NA	NA	NA	NA	NA
	Non-Cash Items					15.39	12.23	13.19	17.89	15.66	15.28	16.45	16	24.56
	Change in Working Capital					16.31	4.61	0.25	10.23	23.4	15.1	-3.09	2.55	7.45
	Cash from Operating Activities					58.62	46.24	39.21	57.92	58.95	55.8	36.95	41.99	47.66
	CAPEX					-3.44	-1.78	-3.27	-3.89	-4.72	-12.76	-5.56	-4.88	-4.79
	Other Investing CF Items, Total					-13.14	-70.05	-10.63	7.08	-36.35	-32.88	139.04	-41.64	-41.64
	Cash from Investing Activities					-16.57	-71.83	-13.9	3.19	-41.07	-45.64	133.48	-33.06	-46.44
	Financing Cash Flow Items					0.8	0.24	-0.7	-2.3	0.44	-1.3	-0.29	0.92	2.59
	Cash from Financing Activities					-19.96	-6.19	-27.69	-16.86	-48.13	-43.72	-96.71	6.84	4.92
	FCF					55.18	44.46	35.94	54.03	54.23	43.04	31.39	37.11	42.87
	Net Change in Cash					22.55	-31.4	-2.62	44	-30.88	-33.57	73.23	15.23	6.26
	SGA Growth%				8.4	-2.8	-7.8	-11.8	5.1	26.5	28.5	29.4	38.0	20.0