Five9
FIVN on Nasdaq. Five9 sells cloud contact center software to businesses. Market value $2.6bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $6.84 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 56 of 100. Price score: 63 of 100. Our list needs 70 on quality and 60 on price.
$33.29 a share, 150% above its 1-year low
Over the past year the price has ranged from $13.29 to $40.00.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $610m | $779m | $910m | $1.0bn | $1.1bn |
| Operating margin | |||||
| Operating margin | -9.2% | -11.2% | -10.8% | -4.9% | 2.5% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.08bn | 0.08bn | 0.07bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 21.5% a year
- Buying back its own sharesNo, 6% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $312 million last quarter, up 10% on a year ago.
- Profit: $3 million, up 192% on a year ago.
- It keeps 5 cents of each $1 of sales as operating profit, after losing 2 cents a year earlier.
- Spare cash over the past 12 months: $170 million, up from $110 million.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $264m |
| December 2024 | $279m |
| March 2025 | $280m |
| June 2025 | $283m |
| September 2025 | $286m |
| December 2025 | $300m |
| March 2026 | $305m |
| June 2026 | $312m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$4m |
| December 2024 | $12m |
| March 2025 | $576,000 |
| June 2025 | $1m |
| September 2025 | $18m |
| December 2025 | $20m |
| March 2026 | $18m |
| June 2026 | $3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
6 long-term investors we follow own it, up from 4 last quarter. 290 funds in all.
- Barrow HanleyBarrow Hanley team
- Value
- $5,458
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Voss CapitalTravis Cocke | $104m | 5.2% | Cut |
| Royce & AssociatesChuck Royce | $10m | <0.1% | New |
| Polen CapitalDan Davidowitz | $2m | <0.1% | New |
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $2m | <0.1% | Added |
| Barrow HanleyBarrow Hanley team | $5,458 | <0.1% |
Largest holders overall
- Vanguard Portfolio Management$151mAdded
- BlackRock$151m
- Voss Capital$104mCut
- Ameriprise Financial$88mAdded
- Vanguard Capital Management$71m
- Van Berkom & Associates$66mCut
- Anson Funds Management LP$53mCut
- Driehaus Capital Management$48mNew
- Dimensional Fund Advisors LP$47mAdded
- Geode Capital Management$46mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- BlackRock, Inc.Passive investor15.5%+7.7 ptsSince 31 July 2026
- Vanguard Portfolio ManagementPassive investor10.3%+1.3 ptsSince 31 July 2026
- Voss CapitalPassive investorat least 6.4%−1.6 pts(filed with 4 related holders)Since 30 June 2026
- Ameriprise Financial, Inc.Passive investorat least 5.4%(filed with 1 related holder)Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- Alyeska Investment Group, L.P.Passive investorat least 4.2%(filed with 2 related holders)Since 31 December 2024
- PICTET ASSET MANAGEMENT SAPassive investorSold down below 5%Since 26 February 2026
What they said
The Reporting Person acquired shares of Five9 Inc. as part of its investment strategy, considering the clarity and robustness of the issuer's long-term strategy; the functioning and calibre of governance structures and effective leadership; the financial strength and performance…
Read the filing - FMR LLCPassive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 15.5%+7.7 pts | 31 July 2026 | |
Vanguard Portfolio Management Passive investor | 10.3%+1.3 pts | 31 July 2026 | |
Voss Capital Passive investor | at least 6.4%−1.6 pts (filed with 4 related holders) | 30 June 2026 | |
Ameriprise Financial, Inc. Passive investor | at least 5.4% (filed with 1 related holder) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
Alyeska Investment Group, L.P. Passive investor | at least 4.2% (filed with 2 related holders) | 31 December 2024 | |
PICTET ASSET MANAGEMENT SA Passive investor | Sold down below 5% | 26 February 2026 | What they saidThe Reporting Person acquired shares of Five9 Inc. as part of its investment strategy, considering the clarity and robustness of the issuer's long-term strategy; the functioning and calibre of governance structures and effective leadership; the financial strength and performance… Read the filing |
FMR LLC Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $7m, $5m of it under preset trading plans.
- Dignan AndyPresidentSoldunder a preset trading plan
- Date
- 17 September 2026
- Shares
- 6,986
- Price
- $35.00
- Value
- $244,510
- Lee Bryan MChief Financial OfficerSoldunder a preset trading plan
- Date
- 8 September 2026
- Shares
- 1,310
- Price
- $32.60
- Value
- $42,706
- Dignan AndyPresidentSoldunder a preset trading plan
- Date
- 8 September 2026
- Shares
- 2,746
- Price
- $31.57
- Value
- $86,691
- Meriweather Tiffany N.Chief Admin. & Legal OfficerSoldunder a preset trading plan
- Date
- 8 September 2026
- Shares
- 5,114
- Price
- $31.55
- Value
- $161,347
- Mansharamani LeenaSVP, Chief Accounting OfficerSoldunder a preset trading plan
- Date
- 8 September 2026
- Shares
- 1,253
- Price
- $31.53
- Value
- $39,507
- Lee Bryan MChief Financial OfficerSoldunder a preset trading plan
- Date
- 4 September 2026
- Shares
- 19,308
- Price
- $33.34
- Value
- $643,800
- Dignan AndyPresidentSoldunder a preset trading plan
- Date
- 4 September 2026
- Shares
- 10,574
- Price
- $33.35
- Value
- $352,658
- Meriweather Tiffany N.Chief Admin. & Legal OfficerSoldunder a preset trading plan
- Date
- 4 September 2026
- Shares
- 13,409
- Price
- $33.31
- Value
- $446,592
- Mansharamani LeenaSVP, Chief Accounting OfficerSoldunder a preset trading plan
- Date
- 4 September 2026
- Shares
- 2,706
- Price
- $33.35
- Value
- $90,242
- Mansharamani LeenaSVP, Chief Accounting OfficerSoldunder a preset trading plan
- Date
- 3 September 2026
- Shares
- 2,658
- Price
- $34.22
- Value
- $90,963
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 17 September 2026 | Dignan Andy President | Sold under a preset trading plan | 6,986 | $35.00 | $244,510 |
| 8 September 2026 | Lee Bryan M Chief Financial Officer | Sold under a preset trading plan | 1,310 | $32.60 | $42,706 |
| 8 September 2026 | Dignan Andy President | Sold under a preset trading plan | 2,746 | $31.57 | $86,691 |
| 8 September 2026 | Meriweather Tiffany N. Chief Admin. & Legal Officer | Sold under a preset trading plan | 5,114 | $31.55 | $161,347 |
| 8 September 2026 | Mansharamani Leena SVP, Chief Accounting Officer | Sold under a preset trading plan | 1,253 | $31.53 | $39,507 |
| 4 September 2026 | Lee Bryan M Chief Financial Officer | Sold under a preset trading plan | 19,308 | $33.34 | $643,800 |
| 4 September 2026 | Dignan Andy President | Sold under a preset trading plan | 10,574 | $33.35 | $352,658 |
| 4 September 2026 | Meriweather Tiffany N. Chief Admin. & Legal Officer | Sold under a preset trading plan | 13,409 | $33.31 | $446,592 |
| 4 September 2026 | Mansharamani Leena SVP, Chief Accounting Officer | Sold under a preset trading plan | 2,706 | $33.35 | $90,242 |
| 3 September 2026 | Mansharamani Leena SVP, Chief Accounting Officer | Sold under a preset trading plan | 2,658 | $34.22 | $90,963 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.