Business Description

Flex Ltd. is a global technology company specializing in design, engineering, manufacturing, and supply chain solutions for sectors including automotive and consumer electronics. Founded in 1969 and traded on Nasdaq under the symbol FLEX, the company leverages its extensive global network to deliver high-volume production and integrated engineering services. Under CEO Revathi Advaithi, Flex is investing in automation and sustainability initiatives to drive growth in emerging markets while continually enhancing its service offerings.

Financial Statements

In thousands, USD
FY 2026FY 2025FY 2024FY 2023
Total Revenues27,914,00025,813,00026,415,00028,502,000
Cost of Sales25,288,00023,584,00024,395,00026,526,000
Gross Profit2,567,0002,159,0001,865,0001,976,000
Selling, General & Administrative Expenses1,052,000904,000922,000874,000
Depreciation & Amortization Expenses68,00070,00070,00081,000
Other Operating Expenses138,00086,000175,0004,000
Operating Profit1,368,0001,169,000853,0001,017,000
Interest and Investment Income51,00061,00056,00030,000
Interest Expense(215,000)(218,000)(207,000)(230,000)
Non-Operating Income(61,000)11,000(36,000)(10,000)
Total Non-Operating Income(225,000)(146,000)(187,000)(210,000)
Income Before Provision for Income Taxes1,143,0001,023,000666,000807,000
Provision for Income Taxes263,000185,000(206,000)124,000
Consolidated Net Income880,000838,000872,000683,000
Net Income Attributable to Minority Interests and Other——239,000240,000
Net Income Attributable to Discontinued Operations——373,000350,000
Net Income Attributable to Common Shareholders880,000838,0001,006,000793,000
Basic EPS2.372.142.311.75
Diluted EPS2.332.112.281.72
Basic Weighted Average Shares Outstanding371,000391,000435,000454,000
Diluted Weighted Average Shares Outstanding378,000398,000441,000462,000
Shares Outstanding365,690377,817408,102450,123
FY 2026FY 2025FY 2024FY 2023
Cash and Cash Equivalents2,389,0002,289,0002,474,0003,164,000
Total Cash and Cash Equivalents2,389,0002,289,0002,474,0003,164,000
Accounts Receivable4,679,0003,671,0003,033,0003,480,000
Other Receivables1,063,000616,000249,000243,000
Total Trade Receivables5,742,0004,287,0003,282,0003,723,000
Inventories5,845,0005,071,0006,205,0007,388,000
Other Current Assets2,356,0001,194,0001,031,0001,758,000
Total Current Assets16,332,00012,841,00012,992,00016,033,000
Net Property, Plant & Equipment3,164,0002,892,0002,870,0002,947,000
Net Intangible Assets283,000343,000245,000315,000
Goodwill1,369,0001,341,0001,135,0001,139,000
Other Long-Term Assets912,000964,0001,015,000973,000
Total Assets22,060,00018,381,00018,257,00021,407,000
Accounts Payable8,055,0005,147,0004,468,0005,724,000
Accrued Expenses671,000560,000488,000506,000
Short-Term Debt—1,209,000—150,000
Unearned Revenue2,156,0001,957,0002,615,0002,955,000
Other Current Liabilities1,134,000977,000968,0001,532,000
Total Current Liabilities12,016,0009,850,0008,539,00010,867,000
Long-Term Debt3,751,0002,483,0003,261,0003,544,000
Leases565,000456,000490,000504,000
Other Long-Term Liabilities584,000590,000642,000786,000
Total Long-Term Liabilities4,900,0003,529,0004,393,0004,834,000
Total Liabilities16,916,00013,379,00012,932,00015,701,000
Common Stock3,347,0004,142,0005,074,0006,493,000
Treasury Stock(200,000)(200,000)—(388,000)
Accumulated Other Comprehensive Income(167,000)(224,000)(195,000)(194,000)
Retained Earnings2,164,0001,284,000446,000(560,000)
Total Common Shareholders' Equity5,144,0005,002,0005,325,0005,351,000
Minority Interests and Other———355,000
Total Shareholders' Equity5,144,0005,002,0005,325,0005,706,000
Total Liabilities and Shareholders' Equity22,060,00018,381,00018,257,00021,407,000
FY 2026FY 2025FY 2024FY 2023
Net Income880,000838,0001,245,0001,033,000
Depreciation & Amortization563,000539,000537,000501,000
Share-Based Compensation Expense142,000125,000152,000133,000
Other Adjustments229,000168,000(357,000)(102,000)
Changes in Trade Receivables(1,414,000)(966,000)339,000(415,000)
Changes in Inventories(742,000)1,176,0001,105,000(974,000)
Changes in Accounts Payable2,858,000630,000(986,000)(341,000)
Changes in Other Operating Activities(831,000)(1,005,000)(709,000)1,115,000
Cash from Operating Activities1,685,0001,505,0001,326,000950,000
Capital Expenditure(633,000)(438,000)(530,000)(635,000)
Proceeds from Sale of Property, Plant & Equipment8,00015,00025,00020,000
Payments for Business Acquisitions(40,000)(405,000)—2,000
Proceeds from Business Divestments(4,000)(21,000)12,0002,000
Other Investing Activities(3,000)11,0001,0007,000
Cash from Investing Activities(672,000)(838,000)(492,000)(604,000)
Issuance of Long-Term Debt1,251,000499,0002,000718,000
Repayments of Long-Term Debt(1,217,000)(58,000)(409,000)(1,024,000)
Net Issuance / (Repayments) of Long-Term Debt34,000441,000(407,000)(306,000)
Repurchases of Common Shares(944,000)(1,257,000)(1,298,000)(337,000)
Net Issuance / (Repurchases) of Common Shares(944,000)(1,257,000)(1,298,000)(337,000)
Other Financing Activities(14,000)(5,000)49,000645,000
Cash from Financing Activities(924,000)(821,000)(1,656,000)2,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents11,000(31,000)2,000(18,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash100,000(185,000)(820,000)330,000

Key Metrics & Ratios

MetricValue
Market Cap$23.94B
P/E28.09x
P/S0.86x
EV/EBITDA13.39x
Return on Equity17.3%
Return on Invested Capital9.9%
Current Ratio1.36x
Free Cash Flow Margin3.8%

Margins

Gross margin
9.2%
Operating margin
4.9%
Net margin
3.2%

Quarterly Trend

QuarterRevenueYoY growthOperating marginOperating income
Q4 2026 $7.48B +16.9% 5.0% $372M
Q3 2026 $7.06B +7.7% 5.5% $389M
Q2 2026 $6.80B +4.0% 4.4% $296M
Q1 2026 $6.58B +4.1% 4.7% $311M
Q4 2025 $6.40B — 4.8% $305M
Q3 2025 $6.56B — 5.1% $334M
Q2 2025 $6.54B — 4.5% $297M
Q1 2025 $6.31B — 3.7% $233M

More on Flex Ltd.

Company

Flex Ltd. overview
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Leadership
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Earnings transcripts
Financial data last updated 2026-06-18. Figures compiled from public company filings.

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