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Friday 6 November 2026
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Flex Ltd.
FLEX Technology Electronic Components
Flex Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $27.9 billion, up 8.14% from fiscal 2025.
- Revenue
- +24.8%
- EPS
- +34.6%
- Free cash flow
- −14.4%
- Total debt
- +41.3%
Quarter to September 2026, against a year earlier
68.00
1.27
+1.90%
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| Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 | Mar '21 | Mar '20 | Mar '19 | Mar '18 | Mar '17 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 7 | 8 | 6 | 7 | 6 | 3 | 3 | 5 | 3 |
P/E ratio |
28.09 | 15.60 | 12.37 | 9.79 | 6.95 | 11.10 | 33.83 | 44.24 | 14.54 | 20.87 |
Altman Z-Score |
2.70 | 2.49 | 2.51 | 2.03 | 1.81 | 2.08 | 1.91 | 2.10 | 2.17 | 2.21 |
P/S ratio |
0.87 | 0.50 | 0.47 | 0.27 | 0.26 | 0.28 | 0.13 | 0.15 | 0.24 | 0.28 |
Altman Z″-Score (non-manufacturers) |
2.34 | 2.12 | 2.43 | 2.20 | 1.60 | 1.62 | 0.68 | 0.54 | 0.69 | 0.60 |
P/FCF ratio |
22.91 | 11.95 | 15.07 | 22.69 | 10.85 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(2.56) | (2.52) | (2.68) | (2.45) | (2.66) | (1.92) | (1.87) | (1.38) | (0.82) | (0.86) |
P/Operating CF |
58.80 | 29.87 | 18.22 | 16.89 | 17.84 | 41.28 | 18.67 | (6.17) | (8.12) | (1.37) |
P/B ratio |
4.72 | 2.59 | 2.32 | 1.33 | 1.56 | 1.93 | 1.10 | 1.33 | 2.04 | 2.47 |
Price to Tangible BV |
6.95 | 3.90 | 3.14 | 1.79 | 2.70 | 3.12 | 2.06 | 2.53 | 4.18 | 4.96 |
EV/Sales |
0.94 | 0.56 | 0.50 | 0.29 | 0.31 | 0.32 | 0.17 | 0.20 | 0.30 | 0.32 |
EV/EBITDA |
13.63 | 8.39 | 9.47 | 5.36 | 5.57 | 5.71 | 3.86 | 4.28 | 7.41 | 7.02 |
EV/Operating CF |
15.62 | 9.53 | 9.93 | 8.56 | 7.47 | 54.12 | (2.62) | (1.79) | (1.97) | (2.02) |
EV/FCF |
24.83 | 13.25 | 16.03 | 24.27 | 12.93 | (63.87) | (2.13) | (1.48) | (1.74) | (1.79) |
Quick Ratio |
0.59 | 0.61 | 0.64 | 0.61 | 0.59 | 0.84 | 0.60 | 0.57 | 0.55 | 0.62 |
Current Ratio |
1.36 | 1.30 | 1.52 | 1.48 | 1.34 | 1.45 | 1.26 | 1.20 | 1.26 | 1.29 |
Net Debt/EBITDA |
0.71 | 0.82 | 0.57 | 0.35 | 0.90 | 0.84 | 0.88 | 1.09 | 1.43 | 1.02 |
Debt/Assets |
17.00% | 20.09% | 17.86% | 17.26% | 21.72% | 23.89% | 20.73% | 22.63% | 21.44% | 23.44% |
Debt/Equity |
0.73 | 0.74 | 0.61 | 0.65 | 1.02 | 1.10 | 1.00 | 1.03 | 0.97 | 1.10 |
Asset Turnover |
1.38 | 1.41 | 1.33 | 1.40 | 1.40 | 1.63 | 1.78 | 1.93 | 1.93 | 1.91 |
Operating CF/Net income |
1.91 | 1.80 | 1.32 | 1.20 | 1.09 | 0.23 | (17.42) | (31.95) | (9.02) | (11.96) |
Capex/Depreciation |
(1.11) | (0.78) | (0.94) | (1.23) | (0.89) | (0.47) | (0.57) | (0.83) | (0.93) | (0.80) |
Interest Coverage |
6.36 | 5.36 | 4.12 | 4.42 | 5.36 | 5.37 | 2.39 | 2.73 | 3.86 | 4.94 |
| 17.35% | 16.23% | 18.24% | 16.13% | 24.75% | 19.56% | 3.03% | 3.10% | 15.04% | 12.10% | |
| 4.35% | 4.57% | 5.07% | 3.89% | 5.32% | 4.15% | 0.65% | 0.68% | 3.26% | 2.56% | |
ROIC |
13.14% | 11.41% | 8.72% | 10.19% | 10.37% | 10.84% | 6.92% | 6.88% | 6.60% | 8.09% |
Return on Tangible Assets |
12.90% | 15.75% | 14.97% | 10.56% | 16.28% | 10.90% | 2.15% | 2.42% | 10.35% | 7.61% |
Average Days of Receivables |
61.18 | 51.91 | 41.91 | 44.57 | 49.95 | 59.90 | 36.73 | 36.39 | 36.12 | 33.54 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
3.77% | 3.50% | 3.49% | 3.07% | 3.37% | 3.39% | 3.44% | 3.64% | 4.01% | 3.93% |
Intangible Assets out of Total Assets |
0.07 | 0.09 | 0.08 | 0.07 | 0.09 | 0.08 | 0.10 | 0.10 | 0.11 | 0.11 |
Share Based Compensation of Revenue |
0.51% | 0.48% | 0.58% | 0.47% | 0.37% | 0.33% | 0.29% | 0.29% | 0.32% | 0.32% |
Graham Net Nets |
(0.02) | (0.04) | 0.00 | 0.04 | (0.13) | (0.16) | (0.57) | (0.36) | (0.25) | (0.23) |
Graham Number |
26.96 | 24.70 | 25.17 | 21.99 | 19.46 | 13.64 | 4.75 | 4.64 | 10.13 | 8.08 |
Earnings Yield |
3.56% | 6.41% | 8.09% | 10.22% | 14.38% | 9.01% | 2.96% | 2.26% | 6.88% | 4.79% |
Free Cash Flow Yield |
4.36% | 8.37% | 6.64% | 4.41% | 9.22% | (1.84%) | (60.94%) | (90.92%) | (71.15%) | (65.28%) |
Revenue per Share |
75.24 | 66.02 | 60.72 | 62.78 | 51.75 | 48.34 | 47.56 | 49.74 | 48.02 | 44.15 |
Operating CF per Share |
4.54 | 3.85 | 3.05 | 2.09 | 2.15 | 0.29 | (3.01) | (5.64) | (7.30) | (7.07) |
Capex per Share |
(1.68) | (1.08) | (1.16) | (1.35) | (0.91) | (0.53) | (0.70) | (1.20) | (0.98) | (0.91) |
Free Cash Flow per Share |
2.86 | 2.77 | 1.89 | 0.74 | 1.24 | (0.24) | (3.71) | (6.84) | (8.27) | (7.98) |
Cash per Share |
6.44 | 5.85 | 5.69 | 6.97 | 6.23 | 5.28 | 3.78 | 3.22 | 2.78 | 3.39 |
Shareholders Equity per Share |
13.87 | 12.79 | 12.24 | 12.57 | 8.67 | 6.89 | 5.56 | 5.64 | 5.70 | 4.96 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
13.87 | 12.79 | 12.24 | 12.57 | 8.67 | 6.89 | 5.56 | 5.64 | 5.70 | 4.96 |
Free Cash Flow |
1,060.00 | 1,082.00 | 821.00 | 335.00 | 592.00 | (122.00) | (1,889.00) | (3,603.00) | (4,383.55) | (4,311.61) |
Working Capital |
4,316.00 | 2,991.00 | 4,453.00 | 5,166.00 | 3,626.00 | 3,529.00 | 1,875.00 | 1,505.92 | 1,902.35 | 1,883.15 |
Capital Expenditures |
(625.00) | (423.00) | (505.00) | (615.00) | (432.00) | (266.00) | (356.00) | (632.00) | (517.22) | (489.50) |
Net Current Asset Value |
(584.00) | (538.00) | 60.00 | 332.00 | (859.00) | (1,037.00) | (1,773.00) | (1,423.58) | (1,526.88) | (1,527.31) |
EV/EBIT |
19.24 | 12.26 | 15.43 | 7.99 | 8.60 | 9.80 | 9.67 | 11.16 | 16.10 | 15.72 |
Capex to Sales |
0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 |
Price to Operating Income |
17.75 | 11.06 | 14.50 | 7.47 | 7.21 | 8.36 | 7.47 | 8.31 | 13.00 | 13.44 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.22 | 0.23 | 0.24 | 0.21 | 0.23 | 0.27 | 0.28 | 0.33 | 0.25 | 0.26 |
Cash ROIC |
9.39% | 9.85% | 7.42% | 2.67% | 5.24% | (1.24%) | (24.88%) | (46.65%) | (58.98%) | (57.79%) |
Accounts Receivable Turnover |
6.69 | 7.70 | 8.11 | 8.32 | 6.72 | 7.54 | 9.59 | 10.22 | 10.80 | 11.26 |
Accounts Payable Turnover |
3.84 | 4.92 | 4.82 | 4.43 | 3.97 | 4.33 | 4.46 | 4.81 | 4.96 | 5.12 |
Inventory Turnover |
4.64 | 4.20 | 3.61 | 3.80 | 4.36 | 5.84 | 6.09 | 6.56 | 6.63 | 6.49 |
Average Days of Payables |
115.99 | 79.42 | 66.43 | 78.76 | 99.89 | 85.36 | 81.52 | 76.08 | 78.41 | 73.27 |
Days of Inventory on Hand |
84.17 | 78.25 | 92.25 | 101.66 | 105.09 | 63.36 | 60.41 | 55.03 | 58.16 | 55.49 |
Average Receivables |
4,175.00 | 3,352.00 | 3,256.50 | 3,425.50 | 3,665.00 | 3,197.50 | 2,524.48 | 2,565.33 | 2,355.20 | 2,118.73 |
Average Payables |
6,601.00 | 4,807.50 | 5,096.00 | 5,989.00 | 5,750.50 | 5,177.50 | 5,127.62 | 5,134.77 | 4,803.61 | 4,366.60 |
Average Inventory |
5,458.00 | 5,638.00 | 6,796.50 | 6,984.00 | 5,237.50 | 3,840.00 | 3,753.93 | 3,761.34 | 3,598.15 | 3,444.06 |
Average Assets |
20,220.50 | 18,319.00 | 19,832.00 | 20,366.00 | 17,580.50 | 14,763.00 | 13,594.69 | 13,607.62 | 13,154.61 | 12,489.17 |
Average Common Equity |
5,073.00 | 5,163.50 | 5,515.50 | 4,917.50 | 3,782.50 | 3,133.50 | 2,901.68 | 2,995.47 | 2,848.42 | 2,641.90 |
Columns are period end dates · fundamentals updated 5 Nov 2026