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Five9, Inc.

Rank #180Op. Leverage

FIVN · Nasdaq · Technology

Five9, Inc. (FIVN) — Rank #180 by gross profitability (GP/assets 0.35) · ROE 5.0% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001288847 · all metrics point-in-time as of the filing date.

About

Five9, Inc., together with its subsidiaries, provides intelligent cloud software for contact centers in the United States and internationally.

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It offers CX platform that delivers a suite of applications, which enables the breadth of customer service, sales, and marketing functions. The company's platform comprises AI agents, agent assist, workflow automation, AI insights, AI summaries, workforce engagement management, and revenue execution, as well as allows simultaneous management and optimization of customer interactions across voice, chat, email, web, social media and mobile channels, through our application programming interfaces. It also matches each customer interaction with an agent resource and delivers customer data to the agent in real-time through integrations with adjacent enterprise applications, such as CRM software, to optimize customer experience and enhance agent productivity, as well as offers software-as-a-service business model. The company serves customers in various industries, such as banking and financial services, business process outsourcers, retail, healthcare, technology, and education. Five9, Inc.

was incorporated in 2001 and is headquartered in San Ramon, California.

Industry
Software - Infrastructure
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31
Website
five9.com

Price History

FIVN-82.0% · -29.0% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$2.48B

P/E (annual)

73.8

P/S (annual)

2.2

P/B

3.2

P/OCF (annual)

11.0

Shareholder Yield

-18.1%

Employees

2,910

Industry

Software - Infrastructure

Exchange

Nasdaq

Signal Flags

1 green2 yellow
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.35
Return on equity
5.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.33
Current ratio
4.15×
Net cash
$654.06M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
12.9%

Growth

1/2 pass
Revenue growth
10.3%
Piotroski F-Score
N/A
Share dilution
18.1%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

3.3%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 18.1% — per-share value needs a total required return of 21.5% once share-count change is priced in.

vs. own 6-year median revenue growth: 22.3%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-0.7%

r = 10% (base)

3.3%

r = 12%

6.8%

Net debt / market cap: -22.4%

Note: current FCF margin is 1.6σ above its historical mean — implied growth may understate valuation risk if the margin reverts.

Base FCF: $201.2M3Y mean FCF: $133.2M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

1.5xCheap
1.5xmed 12.2x30.2x

P / B

Price / book value per share

2.2xCheap
2.2xmed 22.3x93.9x

P / GP

Price / gross profit per share

2.7xCheap
2.7xmed 21.3x51.7x

P / FCF

Price / free cash flow per share

8.4xCheap
8.4xmed 136.0x498.9x

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.35

Primary signal (Novy-Marx).

9th of 13 SIC 7374 peers

Return on equity

5.0%

Gross margin

55.1%

8th of 13 SIC 7374 peers

Revenue growth (YoY)

10.3%

RPO growth (YoY)

6.4%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

13.8%

Revenue CAGR (5Y)

21.4%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

76.5%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.33

7th of 11 SIC 7374 peers (best = lowest)

Current ratio

4.15×

2nd of 13 SIC 7374 peers

Quick ratio

3.47×

Net cash

$654.06M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$201.24M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

4.11

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

12.9%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Hypergrowth
Startup
Op. Leverage
View full financial statements →