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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. In the quarter to June 2026, revenue grew 20.6%, EPS grew 52.0%, free cash flow fell 84.7% and total debt rose 41.8%, each against the same quarter a year earlier. Member of the S&P 500; operating cash flow growth for three consecutive years.

90.46 8.04 −8.16%
Market cap
$36.4B
P/E
34.9×
Fwd P/E
37.0×
Dividend yield
—
F-score
6/9
Altman Z
2.70
Beneish M
−2.56
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 117.61
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 5 1 1 — 1 — 11 12 — 1 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 36,390.00
Revenue 29,267.00
Net Income 973.00
Free Cash Flow 833.00
Net Debt 2,379.00
Current Ratio 1.38
Debt/Equity 0.95
P/E ratio 34.93
Fwd P/E 37.00 (above 35: high)
P/S ratio 1.13
P/B ratio 6.02 (above 6: high)
Past 5Y EPS Growth 14.00%
This Y EPS Growth 42.47% (at or above 15%: strong)
Next Y EPS Growth 50.37% (at or above 15%: strong)
Next Y revenue growth 24.03% (at or above 10%: strong)
Next 5Y EPS Growth 41.70% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 0.3×; over the ten years it ranged from 0.2× in 2018 to 2.1× in 2026.
P/E against its own 10 years 85.78%
10-year low 10-year high
P/S against its own 10 years 95.43%
10-year low 10-year high
P/B against its own 10 years 95.39%
10-year low 10-year high
EV/Sales against its own 10 years 95.58%
10-year low 10-year high
EV/FCF against its own 10 years 88.56%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 2,474 2,289 2,389 2,840
Receivables 3,033 3,671 4,679 5,036
Inventory 6,205 5,071 5,845 6,453
Other 1,280 1,810 3,419 3,908
12,992 12,841 16,332 18,237
2024 2025 2026 Q'26
Payables 4,468 5,147 8,055 9,195
ST’ Debt — 1,209 — —
Other 968 977 1,134 1,393
8,539 9,850 12,016 13,220

Compound Annual Growth %

10y 5y 3y
Sales 1.35% 2.96% (0.69%)
Cash Flow 4.02% 63.55% 21.05%
Earnings 7.08% 7.50% 3.53%
Book Value 7.04% 8.41% (3.40%)

Revenue $m

Jun Sep Dec Mar Year
’26 7,928 — — — —
’26 6,575 6,804 7,058 7,477 27,914
’25 6,314 6,545 6,556 6,398 25,813
’24 6,892 6,933 6,421 6,169 26,415
’23 7,347 7,766 7,756 5,633 28,502
’22 6,342 6,229 6,619 5,443 24,633
’21 5,153 5,985 6,720 6,266 24,124
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 276 — — — —
’26 399 453 420 413 1,685
’25 340 319 413 433 1,505
’24 6 357 284 679 1,326
’23 38 103 359 450 950
’22 334 180 150 360 1,024
’21 (629) 264 348 161 144
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 41 — — — —
’26 268 305 275 212 1,060
’25 232 219 306 325 1,082
’24 (150) 213 156 602 821
’23 (53) (84) 202 270 335
’22 219 90 31 252 592
’21 (731) 195 283 131 (122)
Fiscal quarters ending in the months shown.

EPS $

Jun Sep Dec Mar Year
’26 0.76 — — — —
’26 0.50 0.52 0.64 0.67 2.33
’25 0.34 0.54 0.67 0.57 2.11
’24 0.41 0.51 0.45 0.93 2.28
’23 0.40 0.50 0.50 0.31 1.72
’22 0.41 0.69 0.48 0.36 1.94
’21 0.10 0.22 0.41 0.47 1.21
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 10.72 5.08 5.52 4.04 11.69 10.27 14.65 21.84 25.11 55.16

Analyst estimates 2027–2029

Powerpack
High 14.40 14.85 9.70 13.93 15.10 17.65 23.17 42.47 72.22 166.86
People
People Employees 200,000 200,000 200,000 160,000 167,201 172,648 172,000 148,000 147,979 149,686
Revenue/emp, $m 0.12 0.13 0.13 0.15 0.14 0.14 0.17 0.18 0.17 0.19
Income, $m
Income, $m Revenue 23,863 25,441 26,211 24,210 24,124 24,633 28,502 26,415 25,813 27,914
Gross margin, % 6.37 6.27 5.79 5.53 6.99 7.23 6.93 7.06 8.36 9.20
EBT 371 521 182 159 714 964 807 666 1,023 1,143
EBT margin, % 1.55 2.05 0.69 0.66 2.96 3.91 2.83 2.52 3.96 4.09
Net income 320 429 93 88 613 936 1,033 1,245 838 880
Depreciation 610 555 765 626 569 484 501 537 539 563
Per share, $
Per share, $ Revenue 44.15 48.02 49.74 47.56 48.34 51.75 62.78 60.72 66.02 75.24
Earnings 0.59 0.80 0.18 0.17 1.21 1.94 1.72 2.28 2.11 2.33
Cash flow (7.07) (7.30) (5.64) (3.01) 0.29 2.15 2.09 3.05 3.85 4.54
Capex (0.91) (0.98) (1.20) (0.70) (0.53) (0.91) (1.35) (1.16) (1.08) (1.68)
Free cash flow (7.98) (8.27) (6.84) (3.71) (0.24) 1.24 0.74 1.89 2.77 2.86
Book value 4.96 5.70 5.64 5.56 6.89 8.67 12.57 12.24 12.79 13.87
Shares, m 541 530 527 509 499 476 454 435 391 371
Valuation, ×
Valuation, × P/E 21.63 15.06 45.82 35.11 11.50 7.21 10.14 12.37 15.60 28.09
P/S 0.29 0.25 0.16 0.13 0.29 0.27 0.28 0.47 0.50 0.87
P/B 2.55 2.11 1.38 1.14 2.00 1.61 1.38 2.32 2.59 4.72
EV/Sales 0.33 0.31 0.21 0.17 0.33 0.32 0.29 0.50 0.56 0.94
EV/FCF (1.85) (1.79) (1.52) (2.19) (65.84) 13.32 25.08 16.03 13.25 24.83
Cash, $m
Cash, $m Operating cash flow (3,822) (3,866) (2,971) (1,533) 144 1,024 950 1,326 1,505 1,685
Capex (490) (517) (632) (356) (266) (432) (615) (505) (423) (625)
Free cash flow (4,312) (4,384) (3,603) (1,889) (122) 592 335 821 1,082 1,060
Balance, $m
Balance, $m Working capital 1,883 1,902 1,506 1,875 3,529 3,626 5,166 4,453 2,991 4,316
Total debt 2,952 2,941 3,055 2,838 3,783 4,197 3,694 3,261 3,692 3,751
Net debt 1,121 1,468 1,358 915 1,146 1,233 530 787 1,403 1,362
Shareholders’ equity 2,678 3,019 2,972 2,831 3,436 4,129 5,706 5,325 5,002 5,144
Returns, %
Returns, % ROA 2.56 3.26 0.68 0.65 4.15 5.32 3.89 5.07 4.57 4.35
ROIC 8.09 6.60 6.88 6.92 10.84 10.37 10.19 8.72 11.41 13.14
ROE 12.10 15.04 3.10 3.03 19.56 24.75 16.13 18.24 16.23 17.35
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Flex Ltd. vs peers in Electronic Components (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GLW Corning Incorporated $119.2B 59.7× 66.0× +16.65% (above 0%: growing) +18.18% (above 0%: growing) +223.75% (above 0%: growing) 36.14% 15.49% Compare
TEL TE Connectivity Ltd. $61.7B 20.7× 19.7× +13.81% (above 0%: growing) +18.98% (above 0%: growing) −8.21% (below 0%: shrinking) 35.56% 19.01% Compare
FLEX Flex Ltd. $36.4B 34.9× 37.0× +20.58% (above 0%: growing) +52.00% (above 0%: growing) −84.70% (below 0%: shrinking) 9.42% 4.94%
JBL Jabil, Inc. $30.1B 28.2× 31.7× +28.65% (above 0%: growing) +86.61% (above 0%: growing) +7.13% (above 0%: growing) 9.43% 5.67% Compare
FN Fabrinet $13.8B 27.5× 38.1× +44.64% (above 0%: growing) +59.43% (above 0%: growing) −885.01% (below 0%: shrinking) 12.01% 10.20% Compare
TTMI TTM Technologies, Inc. $10.7B 41.2× 53.7× +37.42% (above 0%: growing) +95.12% (above 0%: growing) +22.47% (above 0%: growing) 21.10% 10.86% Compare
VICR Vicor Corporation $10.1B 60.0× 96.1× +1.63% (above 0%: growing) +17.39% (above 0%: growing) −61.09% (below 0%: shrinking) 57.98% 24.33% Compare
SANM Sanmina Corporation $10.1B 30.8× 44.7× +69.67% (above 0%: growing) +69.53% (above 0%: growing) −85.58% (below 0%: shrinking) 10.49% 6.39% Compare
LFUS Littelfuse, Inc. $10.0B — (loss-making) 32.2× +20.44% (above 0%: growing) +52.16% (above 0%: growing) +86.12% (above 0%: growing) 41.43% 16.21% Compare
Median of peers $12.2B 30.8× 41.4× +24.55% +55.80% −0.54% 28.33% 13.18%

All 49 Electronic Components stocks →

FLEX metrics, ten years each

Flex Ltd. (FLEX) key facts

  • Strength: Flex Ltd.’s revenue for fiscal 2026 (year ended March 2026) was $27.9 billion, up 8.14% from fiscal 2025.
  • Flex Ltd. (FLEX) is an Electronic Components company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, FLEX traded at $90.46, a market capitalization of $36.4 billion.
  • Return on equity was 17.4% and debt-to-equity 0.95.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.70 (grey zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/FLEX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com