Fabrinet
FN Technology Electronic Components
Fabrinet’s revenue for fiscal 2026 (year ended June 2026) was $4.6 billion, up 35.7% from fiscal 2025. In the quarter to June 2026, revenue grew 44.6%, EPS grew 59.4% and free cash flow fell 885.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Fabrinet (FN) Altman Z-score
Fabrinet's Altman Z-score for fiscal 2026 is 11.33, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 11.33 | 0.52 |
| FY2025 | 10.80 | (1.60) |
| FY2024 | 12.41 | 3.34 |
| FY2023 | 9.07 | 2.81 |
| FY2022 | 6.26 | (0.98) |
| FY2021 | 7.24 | 0.80 |
| FY2020 | 6.43 | 0.53 |
| FY2019 | 5.90 | 0.52 |
| FY2018 | 5.38 | (0.33) |
| FY2017 | 5.71 | 0.33 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.45 | — | 0.54 | |
| Retained earnings / total assets | 0.66 | — | 0.92 | |
| EBIT / total assets | 0.12 | — | 0.39 | |
| Market value of equity / total liabilities | 13.82 | — | 8.29 | |
| Sales / total assets | 1.19 | — | 1.19 | |
| Altman Z-score | Safe zone | 11.33 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.65 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| VICR Vicor Corporation compare | 42.5× |
| FN Fabrinet | 11.3× |
| PLXS Plexus Corp. compare | 4.1× |
| LFUS Littelfuse, Inc. compare | 4.0× |
| TTMI TTM Technologies, Inc. compare | 3.7× |
| FLEX Flex Ltd. compare | 2.7× |
| JBL Jabil, Inc. compare | 2.6× |
| SANM Sanmina Corporation compare | 2.5× |
| RAL Ralliant Corporation compare | 0.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets