HIGHOutside partySupplier
single contract manufacturer
“10-K Item 1A: 'we currently subcontract manufacturing of our products to a single contract manufacturer'”
FFIV · Concentration risk · 10-K extracted
F5 (FFIV) concentration risks
Updated
The most significant concentration F5 discloses is single contract manufacturer, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: F5’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
single or limited source components
“10-K Item 1A: 'We currently purchase several hardware components used in the assembly of our products from a number of single or limited sources'”
MEDIUMOutside partyCustomer
33.3%
two worldwide distributors
“10-K Item 1A: 'two worldwide distributors of our products accounted for 33.3% of our total net revenue for fiscal year 2025'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile is dominated by two high-share supply-chain dependencies layered with a moderate distributor revenue concentration. Manufacturing is subcontracted to a single contract manufacturer, a high-share dependency by disclosed size — if that manufacturer experienced operational disruptions, lost key certifications, or became unavailable, the company would have no alternative production facility in place. This is the most idiosyncratic exposure in the profile and operates entirely outside the company's direct manufacturing control. Compounding this, several hardware components used in product assembly are sourced from a number of single or limited sources, also a high-share dependency by disclosed size. The two supply-side concentrations are structurally linked: a component shortage would constrain the contract manufacturer's ability to assemble finished goods, creating a compounding effect where a disruption at either the component or the contract-manufacturing level impairs the same production output. On the revenue side, two worldwide distributors accounted for 33.3% of total net revenue for fiscal year 2025, a moderate share by disclosed size with a dependency character. While this distributor concentration is meaningfully lower in share than the supply-chain dependencies, it does mean that a strategic decision by one of those two distributors — to shift emphasis toward a competing product line, reduce inventory commitments, or negotiate more aggressively on terms — would directly affect a moderate portion of revenue. The supply-side and distribution-side exposures do not offset each other; together they create a profile where both production continuity and channel access carry identifiable single-point dependencies.
For the engine’s reasoning on FFIV’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Infrastructure
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APPN | Appian Corporation | 2 | 2 | 0 | 4 |
| FFIV● | F5, Inc. | 2 | 1 | 0 | 3 |
| AVPT | AvePoint, Inc. | 1 | 0 | 0 | 1 |
| ATEN | A10 Networks, Inc. | 0 | 2 | 0 | 2 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.