FLEX LTD. FLEX

Technology SIC 3672 - Printed Circuit Boards NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Bare Printed Circuit Board Manufacturing derived Nasdaq

Flex is the advanced, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage products that improve the world. Through the collective strength of a global workforce across approximately 30 countries with responsible, sustainable operations, we deliver technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

The Company's full suite of specialized capabilities includes design and engineering, supply chain, manufacturing, and integrated services, plus a portfolio of power and cooling products. Over time, we have built differentiated scale and expertise across both technology-driven and regulated markets, enabling us to support customers with increasingly complex product, infrastructure, and compliance requirements. We partner with customers across a diverse set of industries including data center, healthcare, industrial, automotive, communications, and lifestyle.

Last close 76.55 2026-10-23
Market cap $28.28B 2026-06-26 share count
52-week range 53.07 - 166.86

Valuation FY2025 figures against the last close

P/S1.0x
P/E32.9x
P/FCF26.9x
EV/EBITDA16.2x
Dividend yield—
Diluted EPS2.33

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $27.91B$25.81B$26.41B$28.50B$24.63B$24.12B$24.21B$26.21B$25.44B$23.86B
Cost of revenue $25.29B$23.58B$24.39B$26.50B$22.84B$22.35B$22.68B$24.59B$23.78B$22.30B
Gross profit $2.57B$2.16B$1.86B$1.98B$1.78B$1.69B$1.34B$1.52B$1.60B$1.52B
R&D ————————$78.2M$65.6M
SG&A $1.05B$904.0M$922.0M$874.0M$830.0M$817.0M$834.0M$953.0M$1.02B$937.3M
Operating income $1.37B$1.17B$853.0M$1.02B$890.0M$795.0M$415.0M———
Interest expense $215.0M$218.0M$207.0M$230.0M$166.0M$148.0M$7.2M—$123.1M$108.0M
Pre-tax income $1.14B$1.02B$666.0M$807.0M$964.0M$714.0M$159.0M$182.0M$520.9M$370.8M
Income tax $263.0M$185.0M$206.0M$124.0M$92.0M$101.0M$71.0M$89.0M$92.4M$51.3M
Net income $880.0M$838.0M$872.0M$793.0M$936.0M$613.0M$88.0M$93.0M$428.5M$319.6M
EPS, basic 2.372.142.311.751.971.230.170.180.810.59
EPS, diluted 2.332.112.281.721.941.210.170.180.800.59
Shares, diluted (wtd. avg.) 378.0M398.0M441.0M462.0M483.0M506.0M512.0M530.0M536.6M546.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.39B$2.29B$2.47B$3.29B$2.96B$2.64B$1.92B$1.70B$1.47B$1.83B
Receivables $4.68B$3.67B$3.03B$3.48B$3.37B$3.96B$2.44B$2.61B$2.52B$2.19B
Inventory $5.84B$5.07B$6.21B$7.39B$6.58B$3.90B$3.79B$3.72B$3.80B$3.40B
Total current assets $16.33B$12.84B$12.99B$16.03B$14.34B$11.36B$9.09B$9.10B$9.17B$8.39B
Property, plant and equipment $2.50B$2.33B$2.27B$2.34B$2.12B$2.10B$2.22B$2.34B$2.24B$2.32B
Goodwill $1.37B$1.34B$1.14B$1.14B$1.14B$1.09B$1.06B$1.07B$1.12B$984.9M
Other intangibles $283.0M$343.0M$245.0M$315.0M$411.0M$213.0M$262.0M$331.0M$424.4M$362.2M
Total assets $22.06B$18.38B$18.26B$21.41B$19.32B$15.84B$13.69B$13.50B$13.72B$12.59B
Accounts payable $8.05B$5.15B$4.47B$5.72B$6.25B$5.25B$5.11B$5.15B$5.12B$4.48B
Short-term debt $0$1.21B$0$150.0M$949.0M$268.0M$149.0M$632.6M$43.0M$61.5M
Total current liabilities $12.02B$9.85B$8.54B$10.87B$10.71B$7.83B$7.21B$7.60B$7.27B$6.50B
Long-term debt $3.75B$2.48B$3.26B$3.54B$3.25B$3.52B$2.69B$2.42B$2.90B$2.89B
Total liabilities $16.92B$13.38B$12.93B$15.70B$15.12B$12.40B————
Retained earnings $2.16B$1.28B$446.0M-$560.0M-$1.35B-$2.29B-$2.90B-$3.01B-$3.14B-$3.57B
Total equity $5.14B$5.00B$5.33B$5.71B$4.13B$3.44B$2.83B$2.97B$3.02B$2.68B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.69B$1.50B$1.33B$950.0M$1.02B$144.0M-$1.53B-$2.97B-$3.87B-$3.82B
Depreciation and amortisation $457.0M$439.0M$431.0M$414.0M$409.0M$422.0M$422.4M$433.4M$434.4M$432.2M
Stock-based compensation $142.0M$125.0M$152.0M$133.0M$91.0M$79.0M$71.0M$76.0M$81.3M$77.3M
Capital expenditure $633.0M$438.0M$530.0M$635.0M$443.0M$351.0M$462.0M$726.0M$562.0M$525.1M
Investing cash flow -$672.0M-$838.0M-$492.0M-$604.0M-$951.0M-$202.0M$2.28B$3.25B$3.71B$4.27B
Financing cash flow -$924.0M-$821.0M-$1.66B$2.0M$280.0M$743.0M-$508.0M-$30.0M-$187.8M-$242.1M
Buybacks $944.0M$1.26B$1.30B$337.0M$686.0M$183.0M$260.0M$189.0M$180.1M$349.5M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000365.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2016: 23.9B Gross profit, FY2016: 1.5B Net income, FY2016: 319.6M Revenue, FY2017: 25.4B Gross profit, FY2017: 1.6B Net income, FY2017: 428.5M Revenue, FY2018: 26.2B Gross profit, FY2018: 1.5B Net income, FY2018: 93M Revenue, FY2019: 24.2B Gross profit, FY2019: 1.3B Net income, FY2019: 88M Revenue, FY2020: 24.1B Gross profit, FY2020: 1.7B Net income, FY2020: 613M Revenue, FY2021: 24.6B Gross profit, FY2021: 1.8B Net income, FY2021: 936M Revenue, FY2022: 28.5B Gross profit, FY2022: 2B Net income, FY2022: 793M Revenue, FY2023: 26.4B Gross profit, FY2023: 1.9B Net income, FY2023: 872M Revenue, FY2024: 25.8B Gross profit, FY2024: 2.2B Net income, FY2024: 838M Revenue, FY2025: 27.9B Gross profit, FY2025: 2.6B Net income, FY2025: 880M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $23.86B $25.44B $26.21B $24.21B $24.12B $24.63B $28.50B $26.41B $25.81B $27.91B
Gross profit $1.52B $1.60B $1.52B $1.34B $1.69B $1.78B $1.98B $1.86B $2.16B $2.57B
Net income $319.6M $428.5M $93.0M $88.0M $613.0M $936.0M $793.0M $872.0M $838.0M $880.0M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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