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Flex (FLEX) Financials

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$151.92 -7.59 (-4.76%)
Closing price 04:00 PM Eastern
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$154.34 +2.43 (+1.60%)
As of 07:59 PM Eastern
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Annual Income Statements for Flex

Annual Income Statements for Flex

This table shows Flex's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 444 320 429 93 88 613 936 793 1,006 838 880
Consolidated Net Income / (Loss)		 444 320 429 93 88 613 940 1,033 1,245 838 880
Net Income / (Loss) Continuing Operations		 444 320 429 93 88 613 872 683 872 838 880
Total Pre-Tax Income 		455 371 521 182 159 714 964 807 666 1,023 1,143
Total Operating Income		 539 392 351 477 415 795 890 1,017 853 1,169 1,368
Total Gross Profit		 1,608 1,521 1,596 1,518 1,339 1,687 1,780 1,976 1,865 2,159 2,567
Total Revenue		 24,419 23,863 25,441 26,211 24,210 24,124 24,633 28,502 26,415 25,813 27,914
Operating Revenue		 24,419 23,863 25,441 26,211 24,210 24,124 24,633 28,502 26,415 25,813 27,914
Total Cost of Revenue		 22,811 22,342 23,845 24,693 22,871 22,437 22,853 26,526 24,550 23,654 25,347
Operating Cost of Revenue		 22,811 22,342 23,845 24,594 22,681 22,349 22,838 26,503 24,395 23,584 25,288
Other Cost of Revenue		 0.00 - - 99 190 88 15 23 155 70 59
Total Operating Expenses		 1,069 1,129 1,245 1,041 924 892 890 959 1,012 990 1,199
Selling, General & Admin Expense		 955 937 1,019 953 834 817 830 874 922 904 1,052
Amortization Expense		 66 81 79 74 64 62 60 81 70 70 68
Restructuring Charge		 0.00 11 24 14 26 13 0.00 4.00 20 16 79
Total Other Income / (Expense), net		 -85 -21 170 -295 -256 -81 74 -210 -187 -146 -225
Interest Expense		 - - - 175 174 148 166 230 207 218 215
Interest & Investment Income		 - - - - - 83 75 26 64 58 20
Other Income / (Expense), net		 -85 -21 170 -120 -82 -16 165 -6.00 -44 14 -30
Income Tax Expense		 11 51 92 89 71 101 92 124 -206 185 263
Net Income / (Loss) Discontinued Operations		 - - - - - - 68 350 373 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 0.00 4.00 240 239 0.00 0.00
Basic Earnings per Share		 $0.80 $0.59 $0.81 $0.18 $0.17 $1.23 $1.97 $1.75 $2.31 $2.14 $2.37
Weighted Average Basic Shares Outstanding		 557.67M 540.50M 529.78M 527M 509M 499M 476M 454M 435M 391M 371M
Diluted Earnings per Share		 $0.79 $0.59 $0.80 $0.18 $0.17 $1.21 $1.94 $1.72 $2.28 $2.11 $2.33
Weighted Average Diluted Shares Outstanding		 564.87M 546.22M 536.60M 527M 512M 506M 483M 462M 441M 398M 378M
Weighted Average Basic & Diluted Shares Outstanding		 555.10M 541.60M 529.10M 527M 509M 499M 457.64M 444.49M 401.64M 373.32M 366.38M

Quarterly Income Statements for Flex

This table shows Flex's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/29/2023 12/31/2023 3/31/2024 6/28/2024 9/27/2024 12/31/2024 3/31/2025 6/27/2025 9/26/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 228 197 395 139 214 263 222 192 199 239 250
Consolidated Net Income / (Loss)		 406 233 395 139 214 263 222 192 199 239 250
Net Income / (Loss) Continuing Operations		 201 129 86 139 214 263 222 192 199 239 250
Total Pre-Tax Income 		233 152 -130 192 264 288 279 246 262 320 315
Total Operating Income		 281 198 -86 233 297 334 305 311 296 389 372
Total Gross Profit		 519 433 82 471 531 594 563 572 614 679 702
Total Revenue		 6,933 6,421 4,949 6,314 6,545 6,556 6,398 6,575 6,804 7,058 7,477
Operating Revenue		 6,933 6,421 4,949 6,314 6,545 6,556 6,398 6,575 6,804 7,058 7,477
Total Cost of Revenue		 6,414 5,988 4,867 5,843 6,014 5,962 5,835 6,003 6,190 6,379 6,775
Operating Cost of Revenue		 6,411 5,927 4,793 5,827 5,998 5,952 5,807 5,987 6,181 6,373 6,747
Other Cost of Revenue		 3.00 61 74 16 16 10 28 16 9.00 6.00 28
Total Operating Expenses		 238 235 168 238 234 260 258 261 318 290 330
Selling, General & Admin Expense		 221 205 151 213 216 241 234 233 260 270 289
Amortization Expense		 17 17 16 16 16 17 21 21 16 15 16
Restructuring Charge		 0.00 13 1.00 9.00 2.00 2.00 3.00 7.00 42 5.00 25
Total Other Income / (Expense), net		 -48 -46 -44 -41 -33 -46 -26 -65 -34 -69 -57
Interest Expense		 49 50 80 56 53 57 52 51 52 58 54
Interest & Investment Income		 15 13 - 17 12 16 10 -7.00 5.00 14 8.00
Other Income / (Expense), net		 -14 -9.00 -12 -2.00 8.00 -5.00 16 -7.00 13 -25 -11
Income Tax Expense		 32 23 -216 53 50 25 57 54 63 81 65
Basic Earnings per Share		 $0.51 $0.46 $0.91 $0.35 $0.54 $0.68 $0.57 $0.51 $0.53 $0.65 $0.67
Weighted Average Basic Shares Outstanding		 443M 431M 435M 402M 394M 387M 391M 374M 374M 369M 371M
Diluted Earnings per Share		 $0.51 $0.45 $0.91 $0.34 $0.54 $0.67 $0.57 $0.50 $0.52 $0.64 $0.67
Weighted Average Diluted Shares Outstanding		 448M 436M 441M 411M 400M 394M 398M 381M 380M 376M 378M
Basic & Diluted Earnings per Share		 - - $0.91 - - - $0.57 - - - $0.67
Weighted Average Basic & Diluted Shares Outstanding		 434.86M 421.16M 401.64M 397.07M 387.78M 383.10M 373.32M 375.32M 369.79M 367.67M 366.38M

Annual Cash Flow Statements for Flex

This table details how cash moves in and out of Flex's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -21 223 -358 252 226 714 1,293 330 -820 -185 100
Net Cash From Operating Activities		 1,136 -3,822 -3,866 -2,971 -1,533 144 1,024 950 1,326 1,505 1,685
Net Cash From Continuing Operating Activities		 1,136 -3,822 -3,866 -2,971 -1,533 144 1,964 950 1,326 1,505 1,685
Net Income / (Loss) Continuing Operations		 444 320 429 93 88 613 1,876 1,033 1,245 838 880
Consolidated Net Income / (Loss)		 444 320 429 93 88 613 1,876 1,033 1,245 838 880
Depreciation Expense		 515 610 555 765 626 569 484 501 537 539 563
Non-Cash Adjustments To Reconcile Net Income		 110 64 -77 30 184 89 120 223 275 270 370
Changes in Operating Assets and Liabilities, net		 67 -4,815 -4,773 -3,859 -2,431 -1,127 -516 -807 -731 -142 -128
Net Cash From Investing Activities		 -1,396 4,270 3,711 3,253 2,279 -202 -951 -604 -492 -838 -672
Net Cash From Continuing Investing Activities		 -1,396 4,270 3,711 3,253 2,279 -202 -951 -604 -492 -838 -672
Purchase of Property, Plant & Equipment		 -511 -525 -562 -726 -462 -351 -443 -635 -530 -438 -633
Acquisitions		 -917 -189 -271 -13 -1.00 0.00 -539 2.00 0.00 -405 -40
Sale of Property, Plant & Equipment		 14 36 45 94 106 85 11 20 25 15 8.00
Divestitures		 5.74 37 - 267 3.00 -3.00 9.00 2.00 12 -21 -4.00
Other Investing Activities, net		 11 4,912 4,499 3,631 2,633 67 11 7.00 1.00 11 -3.00
Net Cash From Financing Activities		 250 -242 -188 -30 -508 743 280 2.00 -1,656 -821 -924
Net Cash From Continuing Financing Activities		 250 -242 -188 -30 -508 743 280 2.00 -1,656 -821 -924
Repayment of Debt		 -276 -218 -1,421 -3,040 -1,318 -1,139 -281 -1,051 -487 -63 -1,231
Repurchase of Common Equity		 -420 -350 -180 -189 -260 -183 -686 -337 -1,298 -1,257 -944
Issuance of Debt		 885 313 1,413 3,199 1,070 2,065 759 718 2.00 499 1,251
Issuance of Common Equity		 - - - - - 0.00 0.00 694 552 0.00 0.00
Other Financing Activities, net		 61 12 - - - - 0.00 0.00 -425 0.00 0.00
Other Net Changes in Cash		 - - -15 - -12 - - - - - 11

Quarterly Cash Flow Statements for Flex

This table details how cash moves in and out of Flex's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/29/2023 12/31/2023 3/31/2024 6/28/2024 9/27/2024 12/31/2024 3/31/2025 6/27/2025 9/26/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 240 -136 714 -231 358 -268 -44 -50 10 808 -668
Net Cash From Operating Activities		 357 284 679 340 319 413 433 399 453 420 413
Net Cash From Continuing Operating Activities		 357 284 1,685 340 319 413 433 399 453 420 413
Net Income / (Loss) Continuing Operations		 406 233 1,401 139 214 263 222 192 199 239 250
Consolidated Net Income / (Loss)		 406 233 1,401 139 214 263 222 192 199 239 250
Depreciation Expense		 127 130 147 126 131 144 138 142 156 135 130
Changes in Operating Assets and Liabilities, net		 -176 -79 342 75 -26 6.00 -197 65 98 46 -337
Net Cash From Investing Activities		 -142 -117 -78 -82 -124 -435 -197 -179 -155 -138 -200
Net Cash From Continuing Investing Activities		 -142 -117 -78 -82 -124 -435 -197 -179 -155 -138 -200
Purchase of Property, Plant & Equipment		 -152 -130 -81 -111 -103 -112 -112 -133 -150 -148 -202
Sale of Property, Plant & Equipment		 8.00 2.00 4.00 3.00 3.00 5.00 4.00 2.00 2.00 3.00 1.00
Other Investing Activities, net		 2.00 11 -13 24 -21 18 -10 -7.00 -1.00 4.00 1.00
Net Cash From Financing Activities		 26 -308 -888 -468 147 -203 -297 -283 -292 529 -878
Net Cash From Continuing Financing Activities		 26 -308 -888 -468 147 -203 -297 -283 -292 529 -878
Repayment of Debt		 -160 -33 -3.00 -11 -52 -2.00 2.00 -536 5.00 -22 -678
Repurchase of Common Equity		 -309 -275 -517 -457 -300 -201 -299 -247 -297 -200 -200
Other Net Changes in Cash		 - - - - - - - 13 4.00 -3.00 -3.00

Annual Balance Sheets for Flex

This table presents Flex's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Total Assets		 12,385 12,593 13,716 13,499 13,690 15,836 19,325 21,407 18,257 18,381 22,060
Total Current Assets		 8,315 8,388 9,170 9,103 9,086 11,363 14,337 16,033 12,992 12,841 16,332
Cash & Equivalents		 1,608 1,831 1,472 1,697 1,923 2,637 2,964 3,164 2,474 2,289 2,389
Accounts Receivable		 2,045 2,193 2,518 2,613 2,436 3,959 3,371 3,480 3,033 3,671 4,679
Inventories, net		 3,492 3,396 3,800 3,723 3,785 3,895 6,580 7,388 6,205 5,071 5,845
Other Current Assets		 1,171 968 1,380 1,071 942 872 1,422 1,118 1,280 1,810 3,419
Plant, Property, & Equipment, net		 2,258 2,317 2,240 2,336 2,216 2,097 2,125 2,342 2,269 2,330 2,505
Total Noncurrent Assets		 1,812 1,889 2,306 2,060 2,388 2,376 2,863 3,032 2,996 3,210 3,223
Goodwill		 942 985 1,121 1,073 1,065 1,090 1,342 1,139 1,135 1,341 1,369
Intangible Assets		 404 362 424 331 262 213 411 315 245 343 283
Other Noncurrent Operating Assets		 466 542 760 656 1,061 1,073 1,110 1,095 1,616 1,526 1,571
Total Liabilities & Shareholders' Equity		 12,385 12,593 13,716 13,499 13,690 15,836 19,325 21,407 18,257 18,381 22,060
Total Liabilities		 9,779 9,915 10,697 10,527 10,859 12,400 15,118 15,701 12,932 13,379 16,916
Total Current Liabilities		 6,572 6,505 7,268 7,598 7,211 7,834 10,711 10,867 8,539 9,850 12,016
Short-Term Debt		 65 62 43 633 149 268 949 150 0.00 1,209 0.00
Accounts Payable		 4,248 4,485 5,122 5,147 5,108 5,247 6,254 5,724 4,468 5,147 8,055
Current Deferred Revenue		 - - - - - 848 2,002 2,955 2,615 1,957 2,156
Current Employee Benefit Liabilities		 354 344 383 392 364 473 470 506 488 560 671
Other Current Liabilities		 1,905 1,614 1,719 1,426 1,590 998 1,036 1,019 968 977 1,134
Total Noncurrent Liabilities		 3,207 3,410 3,429 2,929 3,648 4,566 4,407 4,834 4,393 3,529 4,900
Long-Term Debt		 2,709 2,891 2,898 2,422 2,689 3,515 3,248 3,544 3,261 2,483 3,751
Other Noncurrent Operating Liabilities		 498 520 532 508 959 1,051 1,159 1,058 1,132 1,046 1,149
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,606 2,678 3,019 2,972 2,831 3,436 4,129 5,706 5,325 5,002 5,144
Total Preferred & Common Equity		 2,571 2,645 3,019 2,972 2,831 3,436 4,129 5,351 5,325 5,002 5,144
Total Common Equity		 2,571 2,645 3,019 2,972 2,831 3,436 4,129 5,351 5,325 5,002 5,144
Common Stock		 6,987 6,734 6,637 6,524 6,336 6,232 6,052 6,493 5,074 4,142 3,347
Retained Earnings		 -3,892 -3,573 -3,144 -3,012 -2,902 -2,289 -1,353 -560 446 1,284 2,164
Treasury Stock		 -388 -388 -388 -388 -388 -388 -388 -388 0.00 -200 -200
Accumulated Other Comprehensive Income / (Loss)		 -136 -128 -86 -151 -215 -119 -182 -194 -195 -224 -167

Quarterly Balance Sheets for Flex

This table presents Flex's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2022 12/31/2022 6/30/2023 9/29/2023 12/31/2023 6/28/2024 9/27/2024 12/31/2024 6/27/2025 9/26/2025 12/31/2025
Total Assets		 20,623 20,892 20,936 20,968 20,366 17,737 18,586 18,272 19,132 19,546 20,820
Total Current Assets		 15,630 15,819 15,540 15,463 14,877 12,548 13,351 12,756 13,467 13,842 15,152
Cash & Equivalents		 2,453 2,565 2,660 2,900 2,764 2,243 2,601 2,313 2,239 2,249 3,057
Accounts Receivable		 3,956 3,939 3,764 3,801 3,605 2,952 3,502 3,382 3,924 3,857 3,837
Inventories, net		 7,726 7,838 7,526 7,166 6,815 5,839 5,466 5,270 5,208 5,270 5,549
Other Current Assets		 1,495 1,477 1,590 1,596 1,693 1,514 1,782 1,791 2,096 2,466 2,709
Plant, Property, & Equipment, net		 2,201 2,289 2,363 2,328 2,328 2,228 2,254 2,241 2,329 2,352 2,393
Total Noncurrent Assets		 2,792 2,784 3,033 3,177 3,161 2,961 2,981 3,275 3,336 3,352 3,275
Goodwill		 1,325 1,340 1,344 1,337 1,348 1,139 1,146 1,332 1,369 1,375 1,375
Intangible Assets		 328 332 299 275 266 230 223 343 330 314 300
Other Noncurrent Operating Assets		 1,139 1,112 1,390 1,565 1,547 1,592 1,612 1,600 1,637 1,663 1,600
Total Liabilities & Shareholders' Equity		 20,623 20,892 20,936 20,968 20,366 17,737 18,586 18,272 19,132 19,546 20,820
Total Liabilities		 16,353 16,290 15,150 14,612 13,921 12,741 13,583 13,280 14,043 14,511 15,699
Total Current Liabilities		 12,146 11,668 10,638 10,106 9,386 8,969 9,306 9,037 9,921 10,374 10,856
Short-Term Debt		 916 494 151 0.00 3.00 543 531 532 677 676 675
Accounts Payable		 6,818 6,630 5,890 5,728 5,292 4,726 5,144 5,033 5,799 6,125 6,482
Current Deferred Revenue		 2,700 2,985 3,038 2,795 2,567 2,265 2,134 1,942 1,876 1,914 1,959
Current Employee Benefit Liabilities		 479 502 474 500 513 428 473 511 494 568 590
Other Current Liabilities		 1,233 1,057 1,085 1,083 1,011 1,007 1,024 1,019 1,075 1,091 1,150
Total Noncurrent Liabilities		 4,207 4,622 4,512 4,506 4,535 3,772 4,277 4,243 4,122 4,137 4,843
Long-Term Debt		 3,081 3,522 3,444 3,412 3,431 2,672 3,178 3,147 3,004 3,013 3,760
Other Noncurrent Operating Liabilities		 1,126 1,100 1,068 1,094 1,104 1,100 1,099 1,096 1,118 1,124 1,083
Total Equity & Noncontrolling Interests		 4,180 4,505 5,786 6,356 6,445 4,996 5,003 4,992 5,089 5,035 5,121
Total Preferred & Common Equity		 4,180 4,505 5,406 5,906 5,965 4,996 5,003 4,992 5,089 5,035 5,121
Total Common Equity		 4,180 4,505 5,406 5,906 5,965 4,996 5,003 4,992 5,089 5,035 5,121
Common Stock		 5,852 5,839 6,337 6,292 6,056 4,649 4,377 4,209 3,929 3,671 3,511
Retained Earnings		 -932 -702 -374 -146 51 585 799 1,062 1,476 1,675 1,914
Treasury Stock		 -388 -388 -388 0.00 0.00 - - - -200 -200 -200
Accumulated Other Comprehensive Income / (Loss)		 -352 -244 -169 -240 -142 -238 -173 -279 -116 -111 -104

Annual Metrics And Ratios for Flex

This table displays calculated financial ratios and metrics derived from Flex's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 367,673,924.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 367,673,924.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.39
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.61% -2.28% 6.61% 3.03% -7.63% -0.36% 2.11% 15.71% -7.32% -2.28% 8.14%
EBITDA Growth		 -19.91% 1.08% 9.77% 4.25% -14.49% 40.50% 14.17% -1.75% -10.98% 27.93% 10.39%
EBIT Growth		 -32.20% -18.44% 40.46% -31.54% -6.62% 133.93% 35.43% -4.17% -19.98% 46.23% 13.10%
NOPAT Growth		 -18.54% -35.88% -14.48% -15.70% -5.69% 197.16% 17.95% 6.92% 29.75% -14.26% 9.99%
Net Income Growth		 -26.09% -28.04% 34.10% -78.30% -5.38% 596.59% 53.34% 9.89% 20.52% -32.69% 5.01%
EPS Growth		 -22.55% -25.32% 35.59% -77.50% -5.56% 611.76% 53.34% 9.89% 32.56% -7.46% 10.43%
Operating Cash Flow Growth		 43.12% -436.32% -1.16% 23.16% 48.40% 109.39% 611.11% -7.23% 39.58% 13.50% 11.96%
Free Cash Flow Firm Growth		 -178.44% 176.36% -228.19% 200.49% 103.44% -118.85% 65.50% 1,395.36% -9.61% 7.22% 43.28%
Invested Capital Growth		 32.89% 0.72% 18.08% -3.49% -13.49% 22.32% 18.73% 3.22% 8.85% 4.79% 1.58%
Revenue Q/Q Growth		 -0.73% 0.38% 2.20% -0.70% -2.97% 3.35% -3.23% 0.67% -2.52% 0.90% 4.02%
EBITDA Q/Q Growth		 -8.44% 4.16% -6.16% 25.11% -7.34% 12.03% 1.18% -3.26% -11.56% 10.46% 1.88%
EBIT Q/Q Growth		 -16.01% 8.71% -13.76% 52.19% 32.56% 15.77% 2.93% -5.07% -19.26% 17.01% 3.32%
NOPAT Q/Q Growth		 -10.10% -10.45% -48.96% 120.22% 315.39% 21.90% -13.75% -7.68% 12.71% -20.28% 5.18%
Net Income Q/Q Growth		 -14.25% 8.68% -19.90% -32.68% 440.04% 45.22% -6.84% 22.83% 2.64% -17.11% 3.29%
EPS Q/Q Growth		 -14.13% 9.26% -19.19% -30.77% 666.67% 47.56% -6.84% 22.83% 30.29% -19.16% 0.87%
Operating Cash Flow Q/Q Growth		 6.77% -415.91% 51.32% 3.77% 34.53% -3.36% 24.12% 10.47% 20.88% -14.05% -1.17%
Free Cash Flow Firm Q/Q Growth		 -3.56% -34.92% 4.32% 82.18% 57.22% -25.83% 96.61% -64.93% 971.48% -66.06% 10.68%
Invested Capital Q/Q Growth		 0.57% 4.07% -3.17% -4.29% -3.95% 0.00% -23.12% -7.24% -14.10% 0.74% 0.11%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 6.59% 6.37% 6.27% 5.79% 5.53% 6.99% 7.23% 6.93% 7.06% 8.36% 9.20%
EBITDA Margin		 3.97% 4.11% 4.23% 4.28% 3.96% 5.59% 6.25% 5.30% 5.10% 6.67% 6.81%
Operating Margin		 2.21% 1.64% 1.38% 1.82% 1.71% 3.30% 3.61% 3.57% 3.23% 4.53% 4.90%
EBIT Margin		 1.86% 1.55% 2.05% 1.36% 1.38% 3.23% 4.28% 3.55% 3.06% 4.58% 4.79%
Profit (Net Income) Margin		 1.82% 1.34% 1.68% 0.35% 0.36% 2.54% 3.82% 3.62% 4.71% 3.25% 3.15%
Tax Burden Percent		 97.67% 86.17% 82.27% 51.10% 55.35% 85.85% 97.51% 128.01% 186.94% 81.92% 76.99%
Interest Burden Percent		 100.00% 100.00% 100.00% 51.04% 47.75% 91.66% 91.37% 79.82% 82.32% 86.48% 85.43%
Effective Tax Rate		 2.33% 13.83% 17.73% 48.90% 44.65% 14.15% 9.54% 15.37% -30.93% 18.08% 23.01%
Return on Invested Capital (ROIC)		 15.94% 8.92% 6.97% 5.52% 5.69% 16.39% 16.07% 15.57% 19.05% 15.30% 16.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.65% 7.33% 17.76% -5.13% -6.78% 9.64% 27.41% 45.74% 55.87% 4.38% 3.79%
Return on Net Nonoperating Assets (RNNOA)		 1.82% 3.17% 8.07% -2.42% -2.66% 3.17% 8.53% 5.27% 3.53% 0.93% 1.03%
Return on Equity (ROE)		 17.76% 12.10% 15.04% 3.10% 3.03% 19.56% 24.60% 20.84% 22.57% 16.23% 17.35%
Cash Return on Invested Capital (CROIC)		 -12.31% 8.20% -9.61% 9.08% 20.16% -3.69% -1.06% 12.41% 10.57% 10.62% 14.75%
Operating Return on Assets (OROA)		 3.78% 2.97% 3.96% 2.62% 2.45% 5.28% 6.00% 4.96% 4.08% 6.46% 6.62%
Return on Assets (ROA)		 3.69% 2.56% 3.26% 0.68% 0.65% 4.15% 5.35% 5.07% 6.28% 4.57% 4.35%
Return on Common Equity (ROCE)		 17.51% 11.94% 14.96% 3.10% 3.03% 19.56% 24.35% 19.93% 21.85% 16.23% 17.35%
Return on Equity Simple (ROE_SIMPLE)		 17.27% 12.08% 14.20% 3.13% 3.11% 17.84% 22.77% 19.30% 23.38% 16.75% 0.00%
Net Operating Profit after Tax (NOPAT)		 527 338 289 244 230 683 805 861 1,117 958 1,053
NOPAT Margin		 2.16% 1.42% 1.14% 0.93% 0.95% 2.83% 3.27% 3.02% 4.23% 3.71% 3.77%
Net Nonoperating Expense Percent (NNEP)		 10.29% 1.60% -10.78% 10.65% 12.47% 6.75% -11.34% -30.17% -36.83% 10.92% 12.53%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - 11.01% 11.84%
Cost of Revenue to Revenue		 93.41% 93.63% 93.73% 94.21% 94.47% 93.01% 92.77% 93.07% 92.94% 91.64% 90.80%
SG&A Expenses to Revenue		 3.91% 3.93% 4.01% 3.64% 3.44% 3.39% 3.37% 3.07% 3.49% 3.50% 3.77%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 4.38% 4.73% 4.89% 3.97% 3.82% 3.70% 3.61% 3.36% 3.83% 3.84% 4.30%
Earnings before Interest and Taxes (EBIT)		 455 371 521 357 333 779 1,055 1,011 809 1,183 1,338
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 970 981 1,076 1,122 959 1,348 1,539 1,512 1,346 1,722 1,901
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.57 3.40 2.85 1.75 1.49 2.66 2.09 1.94 2.26 2.53 4.68
Price to Tangible Book Value (P/TBV)		 5.40 6.93 5.85 3.32 2.81 4.29 3.62 2.66 3.05 3.82 6.89
Price to Revenue (P/Rev)		 0.27 0.38 0.34 0.20 0.17 0.38 0.35 0.36 0.46 0.49 0.86
Price to Earnings (P/E)		 14.90 28.14 20.11 56.07 47.97 14.91 9.20 13.09 11.98 15.12 27.35
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 6.71% 3.55% 4.97% 1.78% 2.08% 6.71% 10.87% 7.64% 8.35% 6.61% 3.66%
Enterprise Value to Invested Capital (EV/IC)		 2.07 2.67 2.25 1.52 1.37 2.24 1.82 2.01 2.10 2.20 3.91
Enterprise Value to Revenue (EV/Rev)		 0.32 0.43 0.40 0.25 0.21 0.43 0.40 0.40 0.49 0.55 0.91
Enterprise Value to EBITDA (EV/EBITDA)		 8.06 10.35 9.37 5.86 5.35 7.63 6.45 7.45 9.54 8.17 13.38
Enterprise Value to EBIT (EV/EBIT)		 17.19 27.36 19.36 18.43 15.42 13.20 9.40 11.14 15.87 11.90 19.01
Enterprise Value to NOPAT (EV/NOPAT)		 14.84 30.04 34.91 26.99 22.36 15.07 12.32 13.09 11.49 14.70 24.14
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.88 0.00 0.00 0.00 0.00 71.43 9.69 11.86 9.68 9.35 15.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 32.67 0.00 16.43 6.31 0.00 0.00 16.43 20.71 21.18 26.71
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.06 1.10 0.97 1.03 1.00 1.10 1.00 0.65 0.61 0.74 0.73
Long-Term Debt to Equity		 1.04 1.08 0.96 0.81 0.95 1.02 0.77 0.62 0.61 0.50 0.73
Financial Leverage		 0.32 0.43 0.45 0.47 0.39 0.33 0.31 0.12 0.06 0.21 0.27
Leverage Ratio		 4.81 4.73 4.62 4.54 4.69 4.71 4.60 4.11 3.60 3.55 3.99
Compound Leverage Factor		 4.81 4.73 4.62 2.32 2.24 4.32 4.20 3.28 2.96 3.07 3.41
Debt to Total Capital		 51.57% 52.43% 49.35% 50.68% 50.06% 52.40% 49.94% 39.30% 37.98% 42.47% 42.17%
Short-Term Debt to Total Capital		 1.21% 1.09% 0.72% 10.50% 2.63% 3.71% 11.29% 1.60% 0.00% 13.91% 0.00%
Long-Term Debt to Total Capital		 50.36% 51.34% 48.62% 40.19% 47.43% 48.69% 38.65% 37.70% 37.98% 28.56% 42.17%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.64% 0.60% 0.00% 0.00% 0.00% 0.00% 0.93% 3.78% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 47.79% 46.97% 50.65% 49.32% 49.94% 47.60% 49.13% 56.93% 62.02% 57.53% 57.83%
Debt to EBITDA		 2.86 3.01 2.73 2.72 2.96 2.81 2.73 2.44 2.42 2.14 1.97
Net Debt to EBITDA		 1.20 1.14 1.36 1.21 0.95 0.85 0.80 0.35 0.58 0.81 0.72
Long-Term Debt to EBITDA		 2.79 2.95 2.69 2.16 2.80 2.61 2.11 2.34 2.42 1.44 1.97
Debt to NOPAT		 5.27 8.74 10.18 12.54 12.36 5.54 5.21 4.29 2.92 3.86 3.56
Net Debt to NOPAT		 2.21 3.32 5.08 5.58 3.98 1.68 1.53 0.62 0.70 1.47 1.29
Long-Term Debt to NOPAT		 5.14 8.56 10.03 9.94 11.71 5.15 4.03 4.12 2.92 2.59 3.56
Altman Z-Score		 2.23 2.32 2.31 2.15 1.95 2.19 1.92 2.14 2.48 2.48 2.69
Noncontrolling Interest Sharing Ratio		 1.40% 1.29% 0.59% 0.00% 0.00% 0.00% 1.02% 4.37% 3.22% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.27 1.29 1.26 1.20 1.26 1.45 1.34 1.48 1.52 1.30 1.36
Quick Ratio		 0.56 0.62 0.55 0.57 0.60 0.84 0.59 0.61 0.64 0.61 0.59
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -407 311 -398 400 814 -153 -53 686 620 665 952
Operating Cash Flow to CapEx		 228.68% -780.81% -747.53% -470.09% -430.62% 54.14% 237.04% 154.47% 262.57% 355.79% 269.60%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 2.29 4.68 -1.04 -0.32 2.98 2.99 3.05 4.43
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 -16.98 -8.81 0.97 6.17 4.13 6.41 6.90 7.84
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 -20.59 -10.86 -0.82 3.57 1.46 3.97 4.96 4.93
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.03 1.91 1.93 1.93 1.78 1.63 1.40 1.40 1.33 1.41 1.38
Accounts Receivable Turnover		 11.14 11.26 10.80 10.22 9.59 7.54 6.72 8.32 8.11 7.70 6.69
Inventory Turnover		 6.54 6.49 6.63 6.56 6.09 5.84 4.36 3.80 3.61 4.20 4.64
Fixed Asset Turnover		 11.23 10.43 11.17 11.46 10.64 11.19 11.67 12.76 11.46 11.23 11.55
Accounts Payable Turnover		 5.18 5.12 4.96 4.81 4.46 4.33 3.97 4.43 4.82 4.92 3.84
Days Sales Outstanding (DSO)		 32.75 32.41 33.79 35.72 38.06 48.38 54.31 43.87 45.00 47.40 54.59
Days Inventory Outstanding (DIO)		 55.85 56.27 55.08 55.60 59.91 62.47 83.65 96.10 101.05 87.00 78.60
Days Payable Outstanding (DPO)		 70.48 71.34 73.53 75.90 81.83 84.23 91.84 82.41 75.77 74.18 95.06
Cash Conversion Cycle (CCC)		 18.12 17.34 15.34 15.42 16.14 26.62 46.11 57.56 70.28 60.21 38.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,773 3,800 4,487 4,330 3,746 4,582 5,440 5,615 6,112 6,405 6,506
Invested Capital Turnover		 7.39 6.30 6.14 5.95 6.00 5.79 4.92 5.16 4.51 4.12 4.32
Increase / (Decrease) in Invested Capital		 934 27 687 -157 -584 836 858 175 497 293 101
Enterprise Value (EV)		 7,818 10,147 10,085 6,572 5,136 10,286 9,920 11,264 12,836 14,076 25,430
Market Capitalization		 6,616 8,992 8,617 5,214 4,221 9,140 8,609 10,379 12,049 12,673 24,068
Book Value per Share		 $4.69 $4.94 $5.72 $5.70 $5.62 $6.88 $8.90 $11.86 $12.64 $13.06 $13.99
Tangible Book Value per Share		 $2.23 $2.42 $2.79 $3.01 $2.98 $4.27 $5.12 $8.64 $9.37 $8.66 $9.50
Total Capital		 5,380 5,630 5,959 6,027 5,669 7,219 8,404 9,400 8,586 8,694 8,895
Total Debt		 2,775 2,952 2,941 3,055 2,838 3,783 4,197 3,694 3,261 3,692 3,751
Total Long-Term Debt		 2,709 2,891 2,898 2,422 2,689 3,515 3,248 3,544 3,261 2,483 3,751
Net Debt		 1,167 1,121 1,468 1,358 915 1,146 1,233 530 787 1,403 1,362
Capital Expenditures (CapEx)		 497 490 517 632 356 266 432 615 505 423 625
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 201 114 473 442 101 1,160 1,611 2,152 1,979 1,911 1,927
Debt-free Net Working Capital (DFNWC)		 1,808 1,945 1,945 2,139 2,024 3,797 4,575 5,316 4,453 4,200 4,316
Net Working Capital (NWC)		 1,743 1,883 1,902 1,506 1,875 3,529 3,626 5,166 4,453 2,991 4,316
Net Nonoperating Expense (NNE)		 83 18 -140 151 142 70 -135 -172 -128 120 173
Net Nonoperating Obligations (NNO)		 1,167 1,121 1,468 1,358 915 1,146 1,233 -91 787 1,403 1,362
Total Depreciation and Amortization (D&A)		 515 610 555 765 626 569 484 501 537 539 563
Debt-free, Cash-free Net Working Capital to Revenue		 0.82% 0.48% 1.86% 1.69% 0.42% 4.81% 6.54% 7.55% 7.49% 7.40% 6.90%
Debt-free Net Working Capital to Revenue		 7.40% 8.15% 7.65% 8.16% 8.36% 15.74% 18.57% 18.65% 16.86% 16.27% 15.46%
Net Working Capital to Revenue		 7.14% 7.89% 7.48% 5.75% 7.74% 14.63% 14.72% 18.13% 16.86% 11.59% 15.46%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.59 $0.43 $0.59 $0.13 $0.12 $0.90 $1.45 $1.29 $2.31 $2.14 $2.37
Adjusted Weighted Average Basic Shares Outstanding		 759.40M 736.03M 721.43M 716.98M 692.82M 679.51M 648.19M 618.23M 435M 391M 371M
Adjusted Diluted Earnings per Share		 $0.58 $0.43 $0.59 $0.13 $0.12 $0.89 $1.42 $1.26 $2.28 $2.11 $2.33
Adjusted Weighted Average Diluted Shares Outstanding		 769.21M 743.81M 730.71M 721.82M 697.81M 679.51M 657.72M 629.12M 441M 398M 378M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 739.16M 721.61M 719.38M 699.98M 677.62M 679.51M 623.19M 605.29M 401.64M 373.32M 366.38M
Normalized Net Operating Profit after Tax (NOPAT)		 574 433 410 251 244 694 805 864 611 971 1,114
Normalized NOPAT Margin		 2.35% 1.81% 1.61% 0.96% 1.01% 2.88% 3.27% 3.03% 2.31% 3.76% 3.99%
Pre Tax Income Margin		 1.86% 1.55% 2.05% 0.69% 0.66% 2.96% 3.91% 2.83% 2.52% 3.96% 4.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 2.04 1.91 5.26 6.36 4.40 3.91 5.43 6.22
NOPAT to Interest Expense		 0.00 0.00 0.00 1.39 1.32 4.61 4.85 3.74 5.40 4.39 4.90
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -1.57 -0.13 3.47 3.75 1.72 1.47 3.49 3.32
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -2.22 -0.73 2.81 2.25 1.07 2.96 2.45 1.99
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.13% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 94.65% 109.38% 42.02% 203.23% 295.45% 29.85% 72.98% 34.75% 104.26% 150.00% 107.27%

Quarterly Metrics And Ratios for Flex

This table displays calculated financial ratios and metrics derived from Flex's official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/29/2023 12/31/2023 3/31/2024 6/28/2024 9/27/2024 12/31/2024 3/31/2025 6/27/2025 9/26/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 367,673,924.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 367,673,924.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.68
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -10.73% -17.21% -12.14% -8.39% -5.60% 2.10% 3.71% 4.13% 3.96% 7.66% 16.86%
EBITDA Growth		 -10.86% -27.50% -78.22% 6.23% 9.64% 48.28% 55.07% 24.93% 6.65% 5.50% 7.68%
EBIT Growth		 -16.30% -40.19% -203.16% 13.73% 12.73% 74.07% 115.44% 31.60% 1.31% 10.64% 13.52%
NOPAT Growth		 -14.76% -42.13% -291.78% -12.47% -0.68% 81.51% -54.79% 43.90% -6.62% -4.75% 21.65%
Net Income Growth		 70.59% -1.69% 8.82% -34.12% -47.29% 12.88% -43.80% 38.13% -7.01% -9.13% 12.61%
EPS Growth		 70.59% -1.69% 193.55% -17.07% 5.88% 48.89% -37.36% 47.06% -3.70% -4.48% 17.54%
Operating Cash Flow Growth		 246.60% -20.89% 50.89% 5,566.67% -10.64% 45.42% -36.23% 17.35% 42.01% 1.69% -4.62%
Free Cash Flow Firm Growth		 -17.86% -168.07% -288.00% 199.61% 222.94% 218.80% -226.43% -134.75% -113.95% -85.92% 486.07%
Invested Capital Growth		 18.13% 17.55% 8.85% -11.20% -11.02% -10.64% 4.79% 9.43% 5.96% 2.22% 1.58%
Revenue Q/Q Growth		 0.59% -7.39% -30.33% 27.58% 3.66% 0.17% -2.41% 2.77% 3.48% 3.73% 5.94%
EBITDA Q/Q Growth		 16.91% -19.04% -89.64% 630.61% 20.67% 9.49% -2.96% -2.83% 4.26% 7.31% -1.60%
EBIT Q/Q Growth		 30.88% -29.21% -128.57% 336.73% 29.74% 9.30% -2.43% -5.30% 1.64% 17.80% -0.82%
NOPAT Q/Q Growth		 25.79% -30.68% -122.79% 380.20% 42.72% 26.69% -20.43% 0.02% -7.38% 29.23% 1.62%
Net Income Q/Q Growth		 92.42% -42.61% 69.53% -64.81% 53.96% 22.90% -15.59% -13.51% 3.65% 20.10% 4.60%
EPS Q/Q Growth		 92.42% -42.61% 102.22% -62.64% 58.82% 24.07% -14.93% -12.28% 4.00% 23.08% 4.69%
Operating Cash Flow Q/Q Growth		 5,850.00% -20.45% 139.08% -49.93% -6.18% 29.47% 4.84% -7.85% 13.53% -7.28% -1.67%
Free Cash Flow Firm Q/Q Growth		 12.29% -10.15% 30.17% 265.41% 8.25% 6.44% -104.74% -536.57% 56.54% 207.44% 29.90%
Invested Capital Q/Q Growth		 2.19% 3.60% -14.10% -2.36% 2.40% 4.04% 0.74% 1.97% -0.86% 0.37% 0.11%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 7.49% 6.74% 1.66% 7.46% 8.11% 9.06% 8.80% 8.70% 9.02% 9.62% 9.39%
EBITDA Margin		 5.68% 4.97% 0.99% 5.67% 6.60% 7.21% 7.17% 6.78% 6.83% 7.07% 6.57%
Operating Margin		 4.05% 3.08% -1.74% 3.69% 4.54% 5.09% 4.77% 4.73% 4.35% 5.51% 4.98%
EBIT Margin		 3.85% 2.94% -1.98% 3.67% 4.60% 5.02% 5.02% 4.62% 4.54% 5.16% 4.83%
Profit (Net Income) Margin		 5.86% 3.63% 7.98% 2.20% 3.27% 4.01% 3.47% 2.92% 2.92% 3.39% 3.34%
Tax Burden Percent		 174.25% 153.29% -303.85% 72.40% 81.06% 91.32% 79.57% 78.05% 75.95% 74.69% 79.37%
Interest Burden Percent		 87.27% 80.42% 132.65% 82.76% 87.71% 87.54% 86.92% 80.92% 84.79% 87.91% 87.26%
Effective Tax Rate		 13.73% 15.13% 0.00% 27.60% 18.94% 8.68% 20.43% 21.95% 24.05% 25.31% 20.63%
Return on Invested Capital (ROIC)		 15.01% 10.29% -5.48% 10.88% 14.43% 17.67% 15.64% 15.40% 13.83% 17.18% 17.07%
ROIC Less NNEP Spread (ROIC-NNEP)		 30.92% 16.41% 125.32% 7.77% 11.12% 13.54% 13.76% 11.20% 11.80% 13.43% 13.80%
Return on Net Nonoperating Assets (RNNOA)		 5.98% 3.15% 7.91% 1.37% 1.59% 2.41% 2.92% 2.68% 3.00% 3.64% 3.76%
Return on Equity (ROE)		 20.99% 13.44% 2.43% 12.25% 16.01% 20.08% 18.56% 18.08% 16.82% 20.83% 20.84%
Cash Return on Invested Capital (CROIC)		 -4.28% -6.13% 10.57% 28.96% 28.20% 29.07% 10.62% 7.50% 10.35% 13.38% 14.75%
Operating Return on Assets (OROA)		 5.04% 3.69% -2.64% 4.91% 5.92% 6.65% 7.07% 6.54% 6.27% 7.08% 6.67%
Return on Assets (ROA)		 7.66% 4.55% 10.63% 2.94% 4.21% 5.31% 4.89% 4.13% 4.04% 4.65% 4.62%
Return on Common Equity (ROCE)		 19.92% 12.74% 2.35% 11.82% 15.38% 19.24% 18.56% 18.08% 16.82% 20.83% 20.84%
Return on Equity Simple (ROE_SIMPLE)		 20.61% 20.34% 0.00% 23.48% 19.61% 20.25% 0.00% 17.51% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 242 168 -60 169 241 305 243 243 225 291 295
NOPAT Margin		 3.50% 2.62% -1.22% 2.67% 3.68% 4.65% 3.79% 3.69% 3.30% 4.12% 3.95%
Net Nonoperating Expense Percent (NNEP)		 -15.91% -6.13% -130.80% 3.11% 3.30% 4.13% 1.89% 4.20% 2.03% 3.76% 3.27%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.70% - - - 3.52% 2.79% 2.77% 2.58% 3.04% 3.32%
Cost of Revenue to Revenue		 92.51% 93.26% 98.34% 92.54% 91.89% 90.94% 91.20% 91.30% 90.98% 90.38% 90.61%
SG&A Expenses to Revenue		 3.19% 3.19% 3.05% 3.37% 3.30% 3.68% 3.66% 3.54% 3.82% 3.83% 3.87%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 3.43% 3.66% 3.39% 3.77% 3.58% 3.97% 4.03% 3.97% 4.67% 4.11% 4.41%
Earnings before Interest and Taxes (EBIT)		 267 189 -98 232 301 329 321 304 309 364 361
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 394 319 49 358 432 473 459 446 465 499 491
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.04 2.22 2.26 2.37 2.66 2.98 2.53 3.66 4.24 4.36 4.68
Price to Tangible Book Value (P/TBV)		 2.81 3.04 3.05 3.27 3.67 4.49 3.82 5.49 6.38 6.48 6.89
Price to Revenue (P/Rev)		 0.44 0.51 0.46 0.46 0.52 0.58 0.49 0.71 0.81 0.83 0.86
Price to Earnings (P/E)		 15.33 17.59 11.98 12.35 14.10 14.73 15.12 20.90 24.36 26.22 27.35
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 6.52% 5.68% 8.35% 8.10% 7.09% 6.79% 6.61% 4.78% 4.11% 3.81% 3.66%
Enterprise Value to Invested Capital (EV/IC)		 1.89 2.02 2.10 2.15 2.36 2.56 2.20 3.07 3.52 3.65 3.91
Enterprise Value to Revenue (EV/Rev)		 0.48 0.56 0.49 0.50 0.57 0.64 0.55 0.77 0.87 0.88 0.91
Enterprise Value to EBITDA (EV/EBITDA)		 9.32 11.29 9.54 9.38 10.27 10.43 8.17 11.08 12.38 12.71 13.38
Enterprise Value to EBIT (EV/EBIT)		 14.75 19.07 15.87 15.31 16.57 16.08 11.90 15.98 18.08 18.32 19.01
Enterprise Value to NOPAT (EV/NOPAT)		 16.63 21.86 11.49 11.82 13.45 13.53 14.70 19.45 22.43 23.69 24.14
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.10 13.12 9.68 7.72 8.90 9.28 9.35 12.83 13.41 13.91 15.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 20.71 6.98 7.89 8.30 21.18 42.82 34.97 27.57 26.71
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.54 0.53 0.61 0.64 0.74 0.74 0.74 0.72 0.73 0.87 0.73
Long-Term Debt to Equity		 0.54 0.53 0.61 0.53 0.64 0.63 0.50 0.59 0.60 0.73 0.73
Financial Leverage		 0.19 0.19 0.06 0.18 0.14 0.18 0.21 0.24 0.25 0.27 0.27
Leverage Ratio		 3.91 3.73 3.60 3.59 3.48 3.38 3.55 3.66 3.80 3.87 3.99
Compound Leverage Factor		 3.42 3.00 4.77 2.97 3.05 2.96 3.08 2.96 3.22 3.40 3.48
Debt to Total Capital		 34.93% 34.76% 37.98% 39.15% 42.57% 42.43% 42.47% 41.97% 42.29% 46.41% 42.17%
Short-Term Debt to Total Capital		 0.00% 0.03% 0.00% 6.61% 6.10% 6.14% 13.91% 7.72% 7.75% 7.06% 0.00%
Long-Term Debt to Total Capital		 34.93% 34.73% 37.98% 32.54% 36.48% 36.29% 28.56% 34.25% 34.54% 39.35% 42.17%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 4.61% 4.86% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 60.46% 60.38% 62.02% 60.85% 57.43% 57.57% 57.53% 58.03% 57.71% 53.59% 57.83%
Debt to EBITDA		 2.44 2.69 2.42 2.35 2.64 2.36 2.14 2.03 2.00 2.38 1.97
Net Debt to EBITDA		 0.37 0.53 0.58 0.71 0.79 0.88 0.81 0.80 0.78 0.74 0.72
Long-Term Debt to EBITDA		 2.44 2.69 2.42 1.95 2.26 2.02 1.44 1.66 1.64 2.02 1.97
Debt to NOPAT		 4.36 5.21 2.92 2.96 3.46 3.06 3.86 3.57 3.63 4.43 3.56
Net Debt to NOPAT		 0.65 1.02 0.70 0.90 1.03 1.14 1.47 1.40 1.42 1.38 1.29
Long-Term Debt to NOPAT		 4.36 5.21 2.92 2.46 2.96 2.62 2.59 2.91 2.97 3.76 3.56
Altman Z-Score		 2.13 2.20 2.32 2.35 2.33 2.46 2.32 2.54 2.61 2.58 2.55
Noncontrolling Interest Sharing Ratio		 5.08% 5.22% 3.22% 3.52% 3.96% 4.20% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.53 1.59 1.52 1.40 1.43 1.41 1.30 1.36 1.33 1.40 1.36
Quick Ratio		 0.66 0.68 0.64 0.58 0.66 0.63 0.61 0.62 0.59 0.64 0.59
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -812 -894 -557 922 998 1,062 -50 -320 -139 150 194
Operating Cash Flow to CapEx		 247.92% 221.88% 881.82% 314.81% 319.00% 385.98% 400.93% 304.58% 306.08% 289.66% 205.47%
Free Cash Flow to Firm to Interest Expense		 -16.56 -17.88 -6.97 16.46 18.83 18.63 -0.97 -6.28 -2.68 2.58 3.60
Operating Cash Flow to Interest Expense		 7.29 5.68 8.49 6.07 6.02 7.25 8.33 7.82 8.71 7.24 7.65
Operating Cash Flow Less CapEx to Interest Expense		 4.35 3.12 7.53 4.14 4.13 5.37 6.25 5.25 5.87 4.74 3.93
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.31 1.25 1.33 1.34 1.29 1.32 1.41 1.41 1.38 1.37 1.38
Accounts Receivable Turnover		 7.02 6.86 8.11 7.69 6.97 7.32 7.70 7.58 7.16 7.43 6.69
Inventory Turnover		 3.41 3.30 3.61 3.59 3.73 3.90 4.20 4.31 4.47 4.51 4.64
Fixed Asset Turnover		 12.02 11.21 11.46 11.26 11.11 11.20 11.23 11.44 11.43 11.58 11.55
Accounts Payable Turnover		 4.04 4.06 4.82 4.52 4.34 4.56 4.92 4.53 4.26 4.24 3.84
Days Sales Outstanding (DSO)		 52.02 53.20 45.00 47.44 52.37 49.84 47.40 48.13 51.00 49.10 54.59
Days Inventory Outstanding (DIO)		 107.13 110.58 101.05 101.73 97.78 93.65 87.00 84.66 81.67 80.90 78.60
Days Payable Outstanding (DPO)		 90.25 89.97 75.77 80.80 84.16 80.01 74.18 80.66 85.73 86.10 95.06
Cash Conversion Cycle (CCC)		 68.90 73.81 70.28 68.36 65.99 63.48 60.21 52.13 46.95 43.89 38.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,868 7,115 6,112 5,968 6,111 6,358 6,405 6,531 6,475 6,499 6,506
Invested Capital Turnover		 4.29 3.93 4.51 4.07 3.92 3.80 4.12 4.17 4.18 4.17 4.32
Increase / (Decrease) in Invested Capital		 1,054 1,062 497 -753 -757 -757 293 563 364 141 101
Enterprise Value (EV)		 13,012 14,396 12,836 12,816 14,434 16,253 14,076 20,067 22,777 23,721 25,430
Market Capitalization		 12,050 13,246 12,049 11,844 13,326 14,887 12,673 18,625 21,337 22,343 24,068
Book Value per Share		 $13.22 $13.72 $12.64 $12.44 $12.60 $12.87 $13.06 $13.63 $13.42 $13.85 $13.99
Tangible Book Value per Share		 $9.61 $10.01 $9.37 $9.03 $9.15 $8.55 $8.66 $9.08 $8.91 $9.32 $9.50
Total Capital		 9,768 9,879 8,586 8,211 8,712 8,671 8,694 8,770 8,724 9,556 8,895
Total Debt		 3,412 3,434 3,261 3,215 3,709 3,679 3,692 3,681 3,689 4,435 3,751
Total Long-Term Debt		 3,412 3,431 3,261 2,672 3,178 3,147 2,483 3,004 3,013 3,760 3,751
Net Debt		 512 670 787 972 1,108 1,366 1,403 1,442 1,440 1,378 1,362
Capital Expenditures (CapEx)		 144 128 77 108 100 107 108 131 148 145 201
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 2,457 2,730 1,979 1,879 1,975 1,938 1,911 1,984 1,895 1,914 1,927
Debt-free Net Working Capital (DFNWC)		 5,357 5,494 4,453 4,122 4,576 4,251 4,200 4,223 4,144 4,971 4,316
Net Working Capital (NWC)		 5,357 5,491 4,453 3,579 4,045 3,719 2,991 3,546 3,468 4,296 4,316
Net Nonoperating Expense (NNE)		 -164 -65 -455 30 27 42 21 51 26 52 45
Net Nonoperating Obligations (NNO)		 512 670 787 972 1,108 1,366 1,403 1,442 1,440 1,378 1,362
Total Depreciation and Amortization (D&A)		 127 130 147 126 131 144 138 142 156 135 130
Debt-free, Cash-free Net Working Capital to Revenue		 9.03% 10.55% 7.49% 7.27% 7.76% 7.58% 7.40% 7.61% 7.20% 7.13% 6.90%
Debt-free Net Working Capital to Revenue		 19.68% 21.23% 16.86% 15.95% 17.98% 16.62% 16.27% 16.20% 15.74% 18.52% 15.46%
Net Working Capital to Revenue		 19.68% 21.22% 16.86% 13.85% 15.89% 14.54% 11.59% 13.60% 13.17% 16.01% 15.46%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.37 $0.46 $0.91 $0.35 $0.54 $0.68 $0.57 $0.51 $0.53 $0.65 $0.67
Adjusted Weighted Average Basic Shares Outstanding		 603.25M 431M 435M 402M 394M 387M 391M 374M 374M 369M 371M
Adjusted Diluted Earnings per Share		 $0.37 $0.45 $0.91 $0.34 $0.54 $0.67 $0.57 $0.50 $0.52 $0.64 $0.67
Adjusted Weighted Average Diluted Shares Outstanding		 610.06M 436M 441M 411M 400M 394M 398M 381M 380M 376M 378M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.91 $0.00 $0.00 $0.00 $0.57 $0.00 $0.00 $0.00 $0.67
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 592.16M 421.16M 401.64M 397.07M 387.78M 383.10M 373.32M 375.32M 369.79M 367.67M 366.38M
Normalized Net Operating Profit after Tax (NOPAT)		 242 179 -60 175 242 307 245 248 257 294 315
Normalized NOPAT Margin		 3.50% 2.79% -1.20% 2.77% 3.70% 4.68% 3.83% 3.77% 3.77% 4.17% 4.21%
Pre Tax Income Margin		 3.36% 2.37% -2.63% 3.04% 4.03% 4.39% 4.36% 3.74% 3.85% 4.53% 4.21%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.45 3.78 -1.23 4.14 5.68 5.77 6.17 5.96 5.94 6.28 6.69
NOPAT to Interest Expense		 4.95 3.36 -0.75 3.01 4.54 5.35 4.67 4.76 4.32 5.01 5.47
EBIT Less CapEx to Interest Expense		 2.51 1.22 -2.19 2.21 3.79 3.89 4.10 3.39 3.10 3.78 2.96
NOPAT Less CapEx to Interest Expense		 2.01 0.80 -1.72 1.08 2.66 3.47 2.59 2.19 1.48 2.51 1.75
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 48.48% 68.01% 104.26% 132.82% 157.90% 145.90% 150.00% 117.51% 119.18% 122.42% 107.27%

Financials Breakdown Chart

Key Financial Trends

Flex (NASDAQ: FLEX) showed a solid rebound in profitability in fiscal Q4 2026, but the broader multi-year picture is more mixed. Revenue growth has held up reasonably well, operating margins improved from the weak levels seen in 2024, and operating cash flow remains healthy. At the same time, the company continues to use a meaningful amount of cash for debt reduction and share repurchases, while working capital swings and leverage remain important points to watch.

  • Revenue improved year over year. Q4 2026 revenue rose to $7.48 billion from $6.40 billion in Q4 2025, while Q2 and Q3 2026 also exceeded the comparable prior-year periods.
  • Operating profit recovered materially from last year’s weak quarter. Q4 2026 operating income was $372 million versus $305 million in Q4 2025 and a loss in Q4 2024.
  • Net income remained stable and positive. Flex posted $250 million of net income in Q4 2026, slightly above $239 million in Q3 2026.
  • Cash generation is still strong. Q4 2026 operating cash flow was $413 million, near recent quarters and well above the very weak cash conversion seen in some earlier periods.
  • Balance sheet liquidity improved. Cash and equivalents increased to $3.06 billion in Q3 2026 from $2.25 billion in Q2 2026.
  • Equity recovered from prior lows. Total common equity rose to $5.12 billion in Q3 2026 from $4.99 billion in Q3 2025.
  • Margins are better, but still not especially strong. Q4 2026 gross profit of $702 million represented only about 9.4% of revenue, which suggests Flex remains in a relatively low-margin business.
  • EPS was steady rather than accelerating. Q4 2026 basic and diluted EPS were both $0.67, roughly in line with recent quarters.
  • Capital spending remains consistent. Quarterly capex generally ranged from about $133 million to $202 million in fiscal 2026, indicating ongoing investment needs.
  • Share count has drifted lower in the latest quarter but stays a key watch item. Flex continues to buy back stock, though diluted shares remain elevated compared with earlier periods.
  • Working capital remains a drag on cash flow. In Q4 2026, changes in operating assets and liabilities reduced cash flow by $337 million, offsetting a large part of earnings.
  • Debt is still meaningful. Q3 2026 showed $4.44 billion of total debt combined between short-term and long-term borrowings, even after recent repayment activity.
  • Q4 2026 financing activity consumed a lot of cash. The company used $878 million in financing cash flow, mainly due to debt repayment and $200 million of share repurchases.
  • Inventory remains large. Inventory was $5.55 billion in Q3 2026, which ties up a significant amount of capital and can pressure cash conversion.
  • There were noticeable restructuring charges in several quarters. That suggests Flex is still managing ongoing operational adjustments rather than running with perfectly clean expenses.

Bottom line: Flex looks healthier now than it did during the more difficult periods in 2024, with better sales, improved operating income, and dependable operating cash flow. However, investors should still watch margin quality, working capital intensity, and the company’s debt and buyback spending, since those factors can limit how quickly earnings translate into free cash flow.

06/05/26 09:08 PM ETAI Generated. May Contain Errors.

Flex Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Flex's financial year ends in March. Their financial year 2026 ended on March 31, 2026.

Flex's net income appears to be on an upward trend, with a most recent value of $880 million in 2026, rising from $444.08 million in 2016. The previous period was $838 million in 2025. View Flex's forecast to see where analysts expect Flex to go next.

Flex's total operating income in 2026 was $1.37 billion, based on the following breakdown:
  • Total Gross Profit: $2.57 billion
  • Total Operating Expenses: $1.20 billion

Over the last 10 years, Flex's total revenue changed from $24.42 billion in 2016 to $27.91 billion in 2026, a change of 14.3%.

Flex's total liabilities were at $16.92 billion at the end of 2026, a 26.4% increase from 2025, and a 73.0% increase since 2016.

In the past 10 years, Flex's cash and equivalents has ranged from $1.47 billion in 2018 to $3.16 billion in 2023, and is currently $2.39 billion as of their latest financial filing in 2026.

Over the last 10 years, Flex's book value per share changed from 4.69 in 2016 to 13.99 in 2026, a change of 198.5%.


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Financial statements for NASDAQ:FLEX last updated on 5/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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