F5 Networks Inc (FFIV)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	5,348,860	5,248,330	5,119,160	5,223,250	5,085,570	5,276,190	5,021,290	5,077,170	5,086,910	4,997,280	4,785,120	4,519,190	4,899,340	4,677,920	4,573,360	4,440,980	3,875,360	3,390,280	3,177,280	2,990,240
Total stockholders’ equity	US$ in thousands	2,860,980	2,800,230	2,657,500	2,725,560	2,582,350	2,468,980	2,322,980	2,397,130	2,405,360	2,360,210	2,192,170	2,007,820	2,401,590	2,232,270	2,153,900	1,998,190	1,929,460	1,761,500	1,623,780	1,467,410
Financial leverage ratio		1.87	1.87	1.93	1.92	1.97	2.14	2.16	2.12	2.11	2.12	2.18	2.25	2.04	2.10	2.12	2.22	2.01	1.92	1.96	2.04

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,348,860K ÷ $2,860,980K
= 1.87

The financial leverage ratio of F5 Inc has shown a varying trend over the past eight quarters. The ratio has ranged from a low of 1.87 in Q1 2024 and Q4 2023 to a high of 2.16 in Q3 2022. This indicates that F5 Inc has been utilizing a mix of debt and equity in its capital structure, with a higher ratio indicating a greater reliance on debt financing.

Overall, F5 Inc's financial leverage ratio has generally been above 1.9 in recent quarters, suggesting that the company has a moderate level of financial leverage. It is important for stakeholders to monitor this ratio closely to ensure that the company is managing its debt levels appropriately and not becoming overleveraged, which could increase financial risk.