Flex (FLEX) Financials

$137.86 -5.74 (-4.00%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$137.44 -0.42 (-0.30%)

As of 05/15/2026 07:59 PM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	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
Net Income / (Loss) Attributable to Common Shareholders	601	444	320	429	93	88	613	936	793	1,006	838
Consolidated Net Income / (Loss)	601	444	320	429	93	88	613	940	1,033	1,245	838
Net Income / (Loss) Continuing Operations	601	444	320	429	93	88	613	872	683	872	838
Total Pre-Tax Income	671	455	371	521	182	159	714	964	807	666	1,023
Total Operating Income	722	539	392	351	477	415	795	890	1,017	853	1,169
Total Gross Profit	1,545	1,608	1,521	1,596	1,518	1,339	1,687	1,780	1,976	1,865	2,159
Total Revenue	26,148	24,419	23,863	25,441	26,211	24,210	24,124	24,633	28,502	26,415	25,813
Operating Revenue	26,148	24,419	23,863	25,441	26,211	24,210	24,124	24,633	28,502	26,415	25,813
Total Cost of Revenue	24,603	22,811	22,342	23,845	24,693	22,871	22,437	22,853	26,526	24,550	23,654
Operating Cost of Revenue	24,603	22,811	22,342	23,845	24,594	22,681	22,349	22,838	26,503	24,395	23,584
Other Cost of Revenue	0.00	0.00	-	-	99	190	88	15	23	155	70
Total Operating Expenses	823	1,069	1,129	1,245	1,041	924	892	890	959	1,012	990
Selling, General & Admin Expense	844	955	937	1,019	953	834	817	830	874	922	904
Amortization Expense	32	66	81	79	74	64	62	60	81	70	70
Restructuring Charge	0.00	0.00	11	24	14	26	13	0.00	4.00	20	16
Total Other Income / (Expense), net	-51	-85	-21	170	-295	-256	-81	74	-210	-187	-146
Interest Expense	-	-	-	-	175	174	148	166	230	207	218
Interest & Investment Income	-	-	-	-	-	-	83	75	26	64	58
Other Income / (Expense), net	-51	-85	-21	170	-120	-82	-16	165	-6.00	-44	14
Income Tax Expense	70	11	51	92	89	71	101	92	124	-206	185
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	68	350	373	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	4.00	240	239	0.00
Basic Earnings per Share	$1.04	$0.80	$0.59	$0.81	$0.18	$0.17	$1.23	$1.97	$1.75	$2.31	$2.14
Weighted Average Basic Shares Outstanding	579.98M	557.67M	540.50M	529.78M	527M	509M	499M	476M	454M	435M	391M
Diluted Earnings per Share	$1.02	$0.79	$0.59	$0.80	$0.18	$0.17	$1.21	$1.94	$1.72	$2.28	$2.11
Weighted Average Diluted Shares Outstanding	591.56M	564.87M	546.22M	536.60M	527M	512M	506M	483M	462M	441M	398M
Weighted Average Basic & Diluted Shares Outstanding	577.70M	555.10M	541.60M	529.10M	527M	509M	499M	457.64M	444.49M	401.64M	373.32M

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	186	228	197	395	139	214	263	222	192	199	239
Consolidated Net Income / (Loss)	211	406	233	395	139	214	263	222	192	199	239
Net Income / (Loss) Continuing Operations	147	201	129	86	139	214	263	222	192	199	239
Total Pre-Tax Income	164	233	152	-130	192	264	288	279	246	262	320
Total Operating Income	215	281	198	-86	233	297	334	305	311	296	389
Total Gross Profit	476	519	433	82	471	531	594	563	572	614	679
Total Revenue	6,892	6,933	6,421	4,949	6,314	6,545	6,556	6,398	6,575	6,804	7,058
Operating Revenue	6,892	6,933	6,421	4,949	6,314	6,545	6,556	6,398	6,575	6,804	7,058
Total Cost of Revenue	6,416	6,414	5,988	4,867	5,843	6,014	5,962	5,835	6,003	6,190	6,379
Operating Cost of Revenue	6,399	6,411	5,927	4,793	5,827	5,998	5,952	5,807	5,987	6,181	6,373
Other Cost of Revenue	17	3.00	61	74	16	16	10	28	16	9.00	6.00
Total Operating Expenses	261	238	235	168	238	234	260	258	261	318	290
Selling, General & Admin Expense	235	221	205	151	213	216	241	234	233	260	270
Amortization Expense	20	17	17	16	16	16	17	21	21	16	15
Restructuring Charge	6.00	0.00	13	1.00	9.00	2.00	2.00	3.00	7.00	42	5.00
Total Other Income / (Expense), net	-51	-48	-46	-44	-41	-33	-46	-26	-65	-34	-69
Interest Expense	56	49	50	80	56	53	57	52	51	52	58
Interest & Investment Income	16	15	13	-	17	12	16	10	-7.00	5.00	14
Other Income / (Expense), net	-11	-14	-9.00	-12	-2.00	8.00	-5.00	16	-7.00	13	-25
Income Tax Expense	17	32	23	-216	53	50	25	57	54	63	81
Basic Earnings per Share	$0.42	$0.51	$0.46	$0.91	$0.35	$0.54	$0.68	$0.57	$0.51	$0.53	$0.65
Weighted Average Basic Shares Outstanding	447M	443M	431M	435M	402M	394M	387M	391M	374M	374M	369M
Diluted Earnings per Share	$0.41	$0.51	$0.45	$0.91	$0.34	$0.54	$0.67	$0.57	$0.50	$0.52	$0.64
Weighted Average Diluted Shares Outstanding	455M	448M	436M	441M	411M	400M	394M	398M	381M	380M	376M
Weighted Average Basic & Diluted Shares Outstanding	446.63M	434.86M	421.16M	401.64M	397.07M	387.78M	383.10M	373.32M	375.32M	369.79M	367.67M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	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
Net Change in Cash & Equivalents	35	-21	223	-358	252	226	714	1,293	330	-820	-185
Net Cash From Operating Activities	794	1,136	-3,822	-3,866	-2,971	-1,533	144	1,024	950	1,326	1,505
Net Cash From Continuing Operating Activities	794	1,136	-3,822	-3,866	-2,971	-1,533	144	1,964	950	1,326	1,505
Net Income / (Loss) Continuing Operations	601	444	320	429	93	88	613	1,876	1,033	1,245	838
Consolidated Net Income / (Loss)	601	444	320	429	93	88	613	1,876	1,033	1,245	838
Depreciation Expense	540	515	610	555	765	626	569	484	501	537	539
Non-Cash Adjustments To Reconcile Net Income	-30	110	64	-77	30	184	89	120	223	275	270
Changes in Operating Assets and Liabilities, net	-318	67	-4,815	-4,773	-3,859	-2,431	-1,127	-516	-807	-731	-142
Net Cash From Investing Activities	-242	-1,396	4,270	3,711	3,253	2,279	-202	-951	-604	-492	-838
Net Cash From Continuing Investing Activities	-242	-1,396	4,270	3,711	3,253	2,279	-202	-951	-604	-492	-838
Purchase of Property, Plant & Equipment	-347	-511	-525	-562	-726	-462	-351	-443	-635	-530	-438
Acquisitions	-67	-917	-189	-271	-13	-1.00	0.00	-539	2.00	0.00	-405
Sale of Property, Plant & Equipment	108	14	36	45	94	106	85	11	20	25	15
Divestitures	-	5.74	37	-	267	3.00	-3.00	9.00	2.00	12	-21
Other Investing Activities, net	64	11	4,912	4,499	3,631	2,633	67	11	7.00	1.00	11
Net Cash From Financing Activities	-516	250	-242	-188	-30	-508	743	280	2.00	-1,656	-821
Net Cash From Continuing Financing Activities	-516	250	-242	-188	-30	-508	743	280	2.00	-1,656	-821
Repayment of Debt	-443	-276	-218	-1,421	-3,040	-1,318	-1,139	-281	-1,051	-487	-63
Repurchase of Common Equity	-416	-420	-350	-180	-189	-260	-183	-686	-337	-1,298	-1,257
Payment of Dividends	-	-	-	-	-	-	0.00	0.00	-22	0.00	0.00
Issuance of Debt	320	885	313	1,413	3,199	1,070	2,065	759	718	2.00	499
Issuance of Common Equity	-	-	-	-	-	-	0.00	0.00	694	552	0.00
Other Financing Activities, net	24	61	12	-	-	-	-	0.00	0.00	-425	0.00
Effect of Exchange Rate Changes	-1.12	-11	17	-	-	-	29	-	-18	2.00	-31

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	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
Net Change in Cash & Equivalents	-634	240	-136	714	-231	358	-268	-44	-50	10	808
Net Cash From Operating Activities	6.00	357	284	679	340	319	413	433	399	453	420
Net Cash From Continuing Operating Activities	6.00	357	284	1,685	340	319	413	433	399	453	420
Net Income / (Loss) Continuing Operations	211	406	233	1,401	139	214	263	222	192	199	239
Consolidated Net Income / (Loss)	211	406	233	1,401	139	214	263	222	192	199	239
Depreciation Expense	133	127	130	147	126	131	144	138	142	156	135
Changes in Operating Assets and Liabilities, net	-338	-176	-79	342	75	-26	6.00	-197	65	98	46
Net Cash From Investing Activities	-155	-142	-117	-78	-82	-124	-435	-197	-179	-155	-138
Net Cash From Continuing Investing Activities	-155	-142	-117	-78	-82	-124	-435	-197	-179	-155	-138
Purchase of Property, Plant & Equipment	-167	-152	-130	-81	-111	-103	-112	-112	-133	-150	-148
Acquisitions	0.00	-	-	-	2.00	-3.00	-346	-58	-41	-2.00	3.00
Sale of Property, Plant & Equipment	11	8.00	2.00	4.00	3.00	3.00	5.00	4.00	2.00	2.00	3.00
Other Investing Activities, net	1.00	2.00	11	-13	24	-21	18	-10	-7.00	-1.00	4.00
Net Cash From Financing Activities	-486	26	-308	-888	-468	147	-203	-297	-283	-292	529
Net Cash From Continuing Financing Activities	-486	26	-308	-888	-468	147	-203	-297	-283	-292	529
Repayment of Debt	-291	-160	-33	-3.00	-11	-52	-2.00	2.00	-536	5.00	-22
Repurchase of Common Equity	-197	-309	-275	-517	-457	-300	-201	-299	-247	-297	-200
Issuance of Debt	2.00	-	-	-	0.00	499	-	-	500	-	751
Other Net Changes in Cash	1.00	-	-	-	-	-	-	-	13	4.00	-3.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	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
Total Assets	11,653	12,385	12,593	13,716	13,499	13,690	15,836	19,325	21,407	18,257	18,381
Total Current Assets	8,741	8,315	8,388	9,170	9,103	9,086	11,363	14,337	16,033	12,992	12,841
Cash & Equivalents	1,628	1,608	1,831	1,472	1,697	1,923	2,637	2,964	3,164	2,474	2,289
Accounts Receivable	2,338	2,045	2,193	2,518	2,613	2,436	3,959	3,371	3,480	3,033	3,671
Inventories, net	3,489	3,492	3,396	3,800	3,723	3,785	3,895	6,580	7,388	6,205	5,071
Other Current Assets	1,286	1,171	968	1,380	1,071	942	872	1,422	1,118	1,280	1,810
Plant, Property, & Equipment, net	2,092	2,258	2,317	2,240	2,336	2,216	2,097	2,125	2,342	2,269	2,330
Total Noncurrent Assets	820	1,812	1,889	2,306	2,060	2,388	2,376	2,863	3,032	2,996	3,210
Goodwill	415	942	985	1,121	1,073	1,065	1,090	1,342	1,139	1,135	1,341
Intangible Assets	-	404	362	424	331	262	213	411	315	245	343
Other Noncurrent Operating Assets	405	466	542	760	656	1,061	1,073	1,110	1,095	1,616	1,526
Total Liabilities & Shareholders' Equity	11,653	12,385	12,593	13,716	13,499	13,690	15,836	19,325	21,407	18,257	18,381
Total Liabilities	9,257	9,779	9,915	10,697	10,527	10,859	12,400	15,118	15,701	12,932	13,379
Total Current Liabilities	6,755	6,572	6,505	7,268	7,598	7,211	7,834	10,711	10,867	8,539	9,850
Short-Term Debt	45	65	62	43	633	149	268	949	150	0.00	1,209
Accounts Payable	4,561	4,248	4,485	5,122	5,147	5,108	5,247	6,254	5,724	4,468	5,147
Current Deferred Revenue	-	-	-	-	-	-	848	2,002	2,955	2,615	1,957
Current Employee Benefit Liabilities	340	354	344	383	392	364	473	470	506	488	560
Other Current Liabilities	1,809	1,905	1,614	1,719	1,426	1,590	998	1,036	1,019	968	977
Total Noncurrent Liabilities	2,502	3,207	3,410	3,429	2,929	3,648	4,566	4,407	4,834	4,393	3,529
Long-Term Debt	2,026	2,709	2,891	2,898	2,422	2,689	3,515	3,248	3,544	3,261	2,483
Other Noncurrent Operating Liabilities	476	498	520	532	508	959	1,051	1,159	1,058	1,132	1,046
Total Equity & Noncontrolling Interests	2,396	2,606	2,678	3,019	2,972	2,831	3,436	4,129	5,706	5,325	5,002
Total Preferred & Common Equity	2,361	2,571	2,645	3,019	2,972	2,831	3,436	4,129	5,351	5,325	5,002
Total Common Equity	2,361	2,571	2,645	3,019	2,972	2,831	3,436	4,129	5,351	5,325	5,002
Common Stock	7,266	6,987	6,734	6,637	6,524	6,336	6,232	6,052	6,493	5,074	4,142
Retained Earnings	-4,336	-3,892	-3,573	-3,144	-3,012	-2,902	-2,289	-1,353	-560	446	1,284
Treasury Stock	-388	-388	-388	-388	-388	-388	-388	-388	-388	0.00	-200
Accumulated Other Comprehensive Income / (Loss)	-181	-136	-128	-86	-151	-215	-119	-182	-194	-195	-224

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

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	3/31/2015	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.15%	-6.61%	-2.28%	6.61%	3.03%	-7.63%	-0.36%	2.11%	15.71%	-7.32%	-2.28%
EBITDA Growth	40.02%	-19.91%	1.08%	9.77%	4.25%	-14.49%	40.50%	14.17%	-1.75%	-10.98%	27.93%
EBIT Growth	67.47%	-32.20%	-18.44%	40.46%	-31.54%	-6.62%	133.93%	35.43%	-4.17%	-19.98%	46.23%
NOPAT Growth	36.29%	-18.54%	-35.88%	-14.48%	-15.70%	-5.69%	197.16%	17.95%	6.92%	29.75%	-14.26%
Net Income Growth	64.34%	-26.09%	-28.04%	34.10%	-78.30%	-5.38%	596.59%	53.34%	9.89%	20.52%	-32.69%
EPS Growth	72.88%	-22.55%	-25.32%	35.59%	-77.50%	-5.56%	611.76%	53.34%	9.89%	32.56%	-7.46%
Operating Cash Flow Growth	-34.73%	43.12%	-436.32%	-1.16%	23.16%	48.40%	109.39%	611.11%	-7.23%	39.58%	13.50%
Free Cash Flow Firm Growth	5.53%	-178.44%	176.36%	-228.19%	200.49%	103.44%	-118.85%	65.50%	1,395.36%	-9.61%	7.22%
Invested Capital Growth	4.73%	32.89%	0.72%	18.08%	-3.49%	-13.49%	22.32%	18.73%	3.22%	8.85%	4.79%
Revenue Q/Q Growth	-2.87%	-0.73%	0.38%	2.20%	-0.70%	-2.97%	3.35%	-3.23%	0.67%	-2.52%	0.90%
EBITDA Q/Q Growth	10.39%	-8.44%	4.16%	-6.16%	25.11%	-7.34%	12.03%	1.18%	-3.26%	-11.56%	10.46%
EBIT Q/Q Growth	16.97%	-16.01%	8.71%	-13.76%	52.19%	32.56%	15.77%	2.93%	-5.07%	-19.26%	17.01%
NOPAT Q/Q Growth	6.07%	-10.10%	-10.45%	-48.96%	120.22%	315.39%	21.90%	-13.75%	-7.68%	12.71%	-20.28%
Net Income Q/Q Growth	18.11%	-14.25%	8.68%	-19.90%	-32.68%	440.04%	45.22%	-6.84%	22.83%	2.64%	-17.11%
EPS Q/Q Growth	18.60%	-14.13%	9.26%	-19.19%	-30.77%	666.67%	47.56%	-6.84%	22.83%	30.29%	-19.16%
Operating Cash Flow Q/Q Growth	3.45%	6.77%	-415.91%	51.32%	3.77%	34.53%	-3.36%	24.12%	10.47%	20.88%	-14.05%
Free Cash Flow Firm Q/Q Growth	-2.24%	-3.56%	-34.92%	4.32%	82.18%	57.22%	-25.83%	96.61%	-64.93%	971.48%	-66.06%
Invested Capital Q/Q Growth	2.40%	0.57%	4.07%	-3.17%	-4.29%	-3.95%	0.00%	-23.12%	-7.24%	-14.10%	0.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.91%	6.59%	6.37%	6.27%	5.79%	5.53%	6.99%	7.23%	6.93%	7.06%	8.36%
EBITDA Margin	4.63%	3.97%	4.11%	4.23%	4.28%	3.96%	5.59%	6.25%	5.30%	5.10%	6.67%
Operating Margin	2.76%	2.21%	1.64%	1.38%	1.82%	1.71%	3.30%	3.61%	3.57%	3.23%	4.53%
EBIT Margin	2.56%	1.86%	1.55%	2.05%	1.36%	1.38%	3.23%	4.28%	3.55%	3.06%	4.58%
Profit (Net Income) Margin	2.30%	1.82%	1.34%	1.68%	0.35%	0.36%	2.54%	3.82%	3.62%	4.71%	3.25%
Tax Burden Percent	89.58%	97.67%	86.17%	82.27%	51.10%	55.35%	85.85%	97.51%	128.01%	186.94%	81.92%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	51.04%	47.75%	91.66%	91.37%	79.82%	82.32%	86.48%
Effective Tax Rate	10.42%	2.33%	13.83%	17.73%	48.90%	44.65%	14.15%	9.54%	15.37%	-30.93%	18.08%
Return on Invested Capital (ROIC)	23.31%	15.94%	8.92%	6.97%	5.52%	5.69%	16.39%	16.07%	15.57%	19.05%	15.30%
ROIC Less NNEP Spread (ROIC-NNEP)	13.63%	5.65%	7.33%	17.76%	-5.13%	-6.78%	9.64%	27.41%	45.74%	55.87%	4.38%
Return on Net Nonoperating Assets (RNNOA)	2.82%	1.82%	3.17%	8.07%	-2.42%	-2.66%	3.17%	8.53%	5.27%	3.53%	0.93%
Return on Equity (ROE)	26.13%	17.76%	12.10%	15.04%	3.10%	3.03%	19.56%	24.60%	20.84%	22.57%	16.23%
Cash Return on Invested Capital (CROIC)	18.69%	-12.31%	8.20%	-9.61%	9.08%	20.16%	-3.69%	-1.06%	12.41%	10.57%	10.62%
Operating Return on Assets (OROA)	5.55%	3.78%	2.97%	3.96%	2.62%	2.45%	5.28%	6.00%	4.96%	4.08%	6.46%
Return on Assets (ROA)	4.98%	3.69%	2.56%	3.26%	0.68%	0.65%	4.15%	5.35%	5.07%	6.28%	4.57%
Return on Common Equity (ROCE)	25.71%	17.51%	11.94%	14.96%	3.10%	3.03%	19.56%	24.35%	19.93%	21.85%	16.23%
Return on Equity Simple (ROE_SIMPLE)	25.45%	17.27%	12.08%	14.20%	3.13%	3.11%	17.84%	22.77%	19.30%	23.38%	16.75%
Net Operating Profit after Tax (NOPAT)	647	527	338	289	244	230	683	805	861	1,117	958
NOPAT Margin	2.47%	2.16%	1.42%	1.14%	0.93%	0.95%	2.83%	3.27%	3.02%	4.23%	3.71%
Net Nonoperating Expense Percent (NNEP)	9.68%	10.29%	1.60%	-10.78%	10.65%	12.47%	6.75%	-11.34%	-30.17%	-36.83%	10.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	11.01%
Cost of Revenue to Revenue	94.09%	93.41%	93.63%	93.73%	94.21%	94.47%	93.01%	92.77%	93.07%	92.94%	91.64%
SG&A Expenses to Revenue	3.23%	3.91%	3.93%	4.01%	3.64%	3.44%	3.39%	3.37%	3.07%	3.49%	3.50%
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	3.15%	4.38%	4.73%	4.89%	3.97%	3.82%	3.70%	3.61%	3.36%	3.83%	3.84%
Earnings before Interest and Taxes (EBIT)	671	455	371	521	357	333	779	1,055	1,011	809	1,183
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,211	970	981	1,076	1,122	959	1,348	1,539	1,512	1,346	1,722
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.07	2.57	3.40	2.85	1.75	1.49	2.66	2.09	1.94	2.26	2.53
Price to Tangible Book Value (P/TBV)	3.73	5.40	6.93	5.85	3.32	2.81	4.29	3.62	2.66	3.05	3.82
Price to Revenue (P/Rev)	0.28	0.27	0.38	0.34	0.20	0.17	0.38	0.35	0.36	0.46	0.49
Price to Earnings (P/E)	12.08	14.90	28.14	20.11	56.07	47.97	14.91	9.20	13.09	11.98	15.12
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	8.28%	6.71%	3.55%	4.97%	1.78%	2.08%	6.71%	10.87%	7.64%	8.35%	6.61%
Enterprise Value to Invested Capital (EV/IC)	2.72	2.07	2.67	2.25	1.52	1.37	2.24	1.82	2.01	2.10	2.20
Enterprise Value to Revenue (EV/Rev)	0.30	0.32	0.43	0.40	0.25	0.21	0.43	0.40	0.40	0.49	0.55
Enterprise Value to EBITDA (EV/EBITDA)	6.38	8.06	10.35	9.37	5.86	5.35	7.63	6.45	7.45	9.54	8.17
Enterprise Value to EBIT (EV/EBIT)	11.53	17.19	27.36	19.36	18.43	15.42	13.20	9.40	11.14	15.87	11.90
Enterprise Value to NOPAT (EV/NOPAT)	11.95	14.84	30.04	34.91	26.99	22.36	15.07	12.32	13.09	11.49	14.70
Enterprise Value to Operating Cash Flow (EV/OCF)	9.74	6.88	0.00	0.00	0.00	0.00	71.43	9.69	11.86	9.68	9.35
Enterprise Value to Free Cash Flow (EV/FCFF)	14.91	0.00	32.67	0.00	16.43	6.31	0.00	0.00	16.43	20.71	21.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	1.06	1.10	0.97	1.03	1.00	1.10	1.00	0.65	0.61	0.74
Long-Term Debt to Equity	0.85	1.04	1.08	0.96	0.81	0.95	1.02	0.77	0.62	0.61	0.50
Financial Leverage	0.21	0.32	0.43	0.45	0.47	0.39	0.33	0.31	0.12	0.06	0.21
Leverage Ratio	5.25	4.81	4.73	4.62	4.54	4.69	4.71	4.60	4.11	3.60	3.55
Compound Leverage Factor	5.25	4.81	4.73	4.62	2.32	2.24	4.32	4.20	3.28	2.96	3.07
Debt to Total Capital	46.36%	51.57%	52.43%	49.35%	50.68%	50.06%	52.40%	49.94%	39.30%	37.98%	42.47%
Short-Term Debt to Total Capital	1.01%	1.21%	1.09%	0.72%	10.50%	2.63%	3.71%	11.29%	1.60%	0.00%	13.91%
Long-Term Debt to Total Capital	45.35%	50.36%	51.34%	48.62%	40.19%	47.43%	48.69%	38.65%	37.70%	37.98%	28.56%
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	0.79%	0.64%	0.60%	0.00%	0.00%	0.00%	0.00%	0.93%	3.78%	0.00%	0.00%
Common Equity to Total Capital	52.85%	47.79%	46.97%	50.65%	49.32%	49.94%	47.60%	49.13%	56.93%	62.02%	57.53%
Debt to EBITDA	1.71	2.86	3.01	2.73	2.72	2.96	2.81	2.73	2.44	2.42	2.14
Net Debt to EBITDA	0.37	1.20	1.14	1.36	1.21	0.95	0.85	0.80	0.35	0.58	0.81
Long-Term Debt to EBITDA	1.67	2.79	2.95	2.69	2.16	2.80	2.61	2.11	2.34	2.42	1.44
Debt to NOPAT	3.20	5.27	8.74	10.18	12.54	12.36	5.54	5.21	4.29	2.92	3.86
Net Debt to NOPAT	0.68	2.21	3.32	5.08	5.58	3.98	1.68	1.53	0.62	0.70	1.47
Long-Term Debt to NOPAT	3.13	5.14	8.56	10.03	9.94	11.71	5.15	4.03	4.12	2.92	2.59
Altman Z-Score	2.59	2.23	2.32	2.31	2.15	1.95	2.19	1.92	2.14	2.48	2.48
Noncontrolling Interest Sharing Ratio	1.61%	1.40%	1.29%	0.59%	0.00%	0.00%	0.00%	1.02%	4.37%	3.22%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.29	1.27	1.29	1.26	1.20	1.26	1.45	1.34	1.48	1.52	1.30
Quick Ratio	0.59	0.56	0.62	0.55	0.57	0.60	0.84	0.59	0.61	0.64	0.61
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	519	-407	311	-398	400	814	-153	-53	686	620	665
Operating Cash Flow to CapEx	331.23%	228.68%	-780.81%	-747.53%	-470.09%	-430.62%	54.14%	237.04%	154.47%	262.57%	355.79%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	2.29	4.68	-1.04	-0.32	2.98	2.99	3.05
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	-16.98	-8.81	0.97	6.17	4.13	6.41	6.90
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-20.59	-10.86	-0.82	3.57	1.46	3.97	4.96
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.17	2.03	1.91	1.93	1.93	1.78	1.63	1.40	1.40	1.33	1.41
Accounts Receivable Turnover	10.39	11.14	11.26	10.80	10.22	9.59	7.54	6.72	8.32	8.11	7.70
Inventory Turnover	6.94	6.54	6.49	6.63	6.56	6.09	5.84	4.36	3.80	3.61	4.20
Fixed Asset Turnover	11.94	11.23	10.43	11.17	11.46	10.64	11.19	11.67	12.76	11.46	11.23
Accounts Payable Turnover	5.29	5.18	5.12	4.96	4.81	4.46	4.33	3.97	4.43	4.82	4.92
Days Sales Outstanding (DSO)	35.15	32.75	32.41	33.79	35.72	38.06	48.38	54.31	43.87	45.00	47.40
Days Inventory Outstanding (DIO)	52.58	55.85	56.27	55.08	55.60	59.91	62.47	83.65	96.10	101.05	87.00
Days Payable Outstanding (DPO)	69.05	70.48	71.34	73.53	75.90	81.83	84.23	91.84	82.41	75.77	74.18
Cash Conversion Cycle (CCC)	18.67	18.12	17.34	15.34	15.42	16.14	26.62	46.11	57.56	70.28	60.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,839	3,773	3,800	4,487	4,330	3,746	4,582	5,440	5,615	6,112	6,405
Invested Capital Turnover	9.42	7.39	6.30	6.14	5.95	6.00	5.79	4.92	5.16	4.51	4.12
Increase / (Decrease) in Invested Capital	128	934	27	687	-157	-584	836	858	175	497	293
Enterprise Value (EV)	7,733	7,818	10,147	10,085	6,572	5,136	10,286	9,920	11,264	12,836	14,076
Market Capitalization	7,255	6,616	8,992	8,617	5,214	4,221	9,140	8,609	10,379	12,049	12,673
Book Value per Share	$4.12	$4.69	$4.94	$5.72	$5.70	$5.62	$6.88	$8.90	$11.86	$12.64	$13.06
Tangible Book Value per Share	$3.40	$2.23	$2.42	$2.79	$3.01	$2.98	$4.27	$5.12	$8.64	$9.37	$8.66
Total Capital	4,467	5,380	5,630	5,959	6,027	5,669	7,219	8,404	9,400	8,586	8,694
Total Debt	2,071	2,775	2,952	2,941	3,055	2,838	3,783	4,197	3,694	3,261	3,692
Total Long-Term Debt	2,026	2,709	2,891	2,898	2,422	2,689	3,515	3,248	3,544	3,261	2,483
Net Debt	443	1,167	1,121	1,468	1,358	915	1,146	1,233	530	787	1,403
Capital Expenditures (CapEx)	240	497	490	517	632	356	266	432	615	505	423
Debt-free, Cash-free Net Working Capital (DFCFNWC)	402	201	114	473	442	101	1,160	1,611	2,152	1,979	1,911
Debt-free Net Working Capital (DFNWC)	2,031	1,808	1,945	1,945	2,139	2,024	3,797	4,575	5,316	4,453	4,200
Net Working Capital (NWC)	1,986	1,743	1,883	1,902	1,506	1,875	3,529	3,626	5,166	4,453	2,991
Net Nonoperating Expense (NNE)	46	83	18	-140	151	142	70	-135	-172	-128	120
Net Nonoperating Obligations (NNO)	443	1,167	1,121	1,468	1,358	915	1,146	1,233	-91	787	1,403
Total Depreciation and Amortization (D&A)	540	515	610	555	765	626	569	484	501	537	539
Debt-free, Cash-free Net Working Capital to Revenue	1.54%	0.82%	0.48%	1.86%	1.69%	0.42%	4.81%	6.54%	7.55%	7.49%	7.40%
Debt-free Net Working Capital to Revenue	7.77%	7.40%	8.15%	7.65%	8.16%	8.36%	15.74%	18.57%	18.65%	16.86%	16.27%
Net Working Capital to Revenue	7.59%	7.14%	7.89%	7.48%	5.75%	7.74%	14.63%	14.72%	18.13%	16.86%	11.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.76	$0.59	$0.43	$0.59	$0.13	$0.12	$0.90	$1.45	$1.29	$2.31	$2.14
Adjusted Weighted Average Basic Shares Outstanding	789.78M	759.40M	736.03M	721.43M	716.98M	692.82M	679.51M	648.19M	618.23M	435M	391M
Adjusted Diluted Earnings per Share	$0.75	$0.58	$0.43	$0.59	$0.13	$0.12	$0.89	$1.42	$1.26	$2.28	$2.11
Adjusted Weighted Average Diluted Shares Outstanding	805.55M	769.21M	743.81M	730.71M	721.82M	697.81M	679.51M	657.72M	629.12M	441M	398M
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	768.01M	739.16M	721.61M	719.38M	699.98M	677.62M	679.51M	623.19M	605.29M	401.64M	373.32M
Normalized Net Operating Profit after Tax (NOPAT)	599	574	433	410	251	244	694	805	864	611	971
Normalized NOPAT Margin	2.29%	2.35%	1.81%	1.61%	0.96%	1.01%	2.88%	3.27%	3.03%	2.31%	3.76%
Pre Tax Income Margin	2.56%	1.86%	1.55%	2.05%	0.69%	0.66%	2.96%	3.91%	2.83%	2.52%	3.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	2.04	1.91	5.26	6.36	4.40	3.91	5.43
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	1.39	1.32	4.61	4.85	3.74	5.40	4.39
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-1.57	-0.13	3.47	3.75	1.72	1.47	3.49
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-2.22	-0.73	2.81	2.25	1.07	2.96	2.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.13%	0.00%	0.00%
Augmented Payout Ratio	69.23%	94.65%	109.38%	42.02%	203.23%	295.45%	29.85%	72.98%	34.75%	104.26%	150.00%

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.19%	-10.73%	-17.21%	-12.14%	-8.39%	-5.60%	2.10%	3.71%	4.13%	3.96%	7.66%
EBITDA Growth	-16.79%	-10.86%	-27.50%	-78.22%	6.23%	9.64%	48.28%	55.07%	24.93%	6.65%	5.50%
EBIT Growth	-27.40%	-16.30%	-40.19%	-203.16%	13.73%	12.73%	74.07%	115.44%	31.60%	1.31%	10.64%
NOPAT Growth	-15.71%	-14.76%	-42.13%	-291.78%	-12.47%	-0.68%	81.51%	-54.79%	43.90%	-6.62%	-4.75%
Net Income Growth	8.21%	70.59%	-1.69%	8.82%	-34.12%	-47.29%	12.88%	-43.80%	38.13%	-7.01%	-9.13%
EPS Growth	8.21%	70.59%	-1.69%	193.55%	-17.07%	5.88%	48.89%	-37.36%	47.06%	-3.70%	-4.48%
Operating Cash Flow Growth	-84.21%	246.60%	-20.89%	50.89%	5,566.67%	-10.64%	45.42%	-36.23%	17.35%	42.01%	1.69%
Free Cash Flow Firm Growth	-18.57%	-17.86%	-168.07%	-288.00%	199.61%	222.94%	218.80%	-226.43%	-134.75%	-113.95%	-85.92%
Invested Capital Growth	19.95%	18.13%	17.55%	8.85%	-11.20%	-11.02%	-10.64%	4.79%	9.43%	5.96%	2.22%
Revenue Q/Q Growth	22.35%	0.59%	-7.39%	-30.33%	27.58%	3.66%	0.17%	-2.41%	2.77%	3.48%	3.73%
EBITDA Q/Q Growth	49.78%	16.91%	-19.04%	-89.64%	630.61%	20.67%	9.49%	-2.96%	-2.83%	4.26%	7.31%
EBIT Q/Q Growth	114.74%	30.88%	-29.21%	-128.57%	336.73%	29.74%	9.30%	-2.43%	-5.30%	1.64%	17.80%
NOPAT Q/Q Growth	513.93%	25.79%	-30.68%	-122.79%	380.20%	42.72%	26.69%	-20.43%	0.02%	-7.38%	29.23%
Net Income Q/Q Growth	-41.87%	92.42%	-42.61%	69.53%	-64.81%	53.96%	22.90%	-15.59%	-13.51%	3.65%	20.10%
EPS Q/Q Growth	-41.87%	92.42%	-42.61%	102.22%	-62.64%	58.82%	24.07%	-14.93%	-12.28%	4.00%	23.08%
Operating Cash Flow Q/Q Growth	-98.67%	5,850.00%	-20.45%	139.08%	-49.93%	-6.18%	29.47%	4.84%	-7.85%	13.53%	-7.28%
Free Cash Flow Firm Q/Q Growth	-544.31%	12.29%	-10.15%	30.17%	265.41%	8.25%	6.44%	-104.74%	-536.57%	56.54%	207.44%
Invested Capital Q/Q Growth	19.70%	2.19%	3.60%	-14.10%	-2.36%	2.40%	4.04%	0.74%	1.97%	-0.86%	0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	6.91%	7.49%	6.74%	1.66%	7.46%	8.11%	9.06%	8.80%	8.70%	9.02%	9.62%
EBITDA Margin	4.89%	5.68%	4.97%	0.99%	5.67%	6.60%	7.21%	7.17%	6.78%	6.83%	7.07%
Operating Margin	3.12%	4.05%	3.08%	-1.74%	3.69%	4.54%	5.09%	4.77%	4.73%	4.35%	5.51%
EBIT Margin	2.96%	3.85%	2.94%	-1.98%	3.67%	4.60%	5.02%	5.02%	4.62%	4.54%	5.16%
Profit (Net Income) Margin	3.06%	5.86%	3.63%	7.98%	2.20%	3.27%	4.01%	3.47%	2.92%	2.92%	3.39%
Tax Burden Percent	128.66%	174.25%	153.29%	-303.85%	72.40%	81.06%	91.32%	79.57%	78.05%	75.95%	74.69%
Interest Burden Percent	80.39%	87.27%	80.42%	132.65%	82.76%	87.71%	87.54%	86.92%	80.92%	84.79%	87.91%
Effective Tax Rate	10.37%	13.73%	15.13%	0.00%	27.60%	18.94%	8.68%	20.43%	21.95%	24.05%	25.31%
Return on Invested Capital (ROIC)	12.73%	15.01%	10.29%	-5.48%	10.88%	14.43%	17.67%	15.64%	15.40%	13.83%	17.18%
ROIC Less NNEP Spread (ROIC-NNEP)	14.27%	30.92%	16.41%	125.32%	7.77%	11.12%	13.54%	13.76%	11.20%	11.80%	13.43%
Return on Net Nonoperating Assets (RNNOA)	3.39%	5.98%	3.15%	7.91%	1.37%	1.59%	2.41%	2.92%	2.68%	3.00%	3.64%
Return on Equity (ROE)	16.11%	20.99%	13.44%	2.43%	12.25%	16.01%	20.08%	18.56%	18.08%	16.82%	20.83%
Cash Return on Invested Capital (CROIC)	-4.76%	-4.28%	-6.13%	10.57%	28.96%	28.20%	29.07%	10.62%	7.50%	10.35%	13.38%
Operating Return on Assets (OROA)	4.05%	5.04%	3.69%	-2.64%	4.91%	5.92%	6.65%	7.07%	6.54%	6.27%	7.08%
Return on Assets (ROA)	4.19%	7.66%	4.55%	10.63%	2.94%	4.21%	5.31%	4.89%	4.13%	4.04%	4.65%
Return on Common Equity (ROCE)	15.36%	19.92%	12.74%	2.35%	11.82%	15.38%	19.24%	18.56%	18.08%	16.82%	20.83%
Return on Equity Simple (ROE_SIMPLE)	19.40%	20.61%	20.34%	0.00%	23.48%	19.61%	20.25%	0.00%	17.51%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	193	242	168	-60	169	241	305	243	243	225	291
NOPAT Margin	2.80%	3.50%	2.62%	-1.22%	2.67%	3.68%	4.65%	3.79%	3.69%	3.30%	4.12%
Net Nonoperating Expense Percent (NNEP)	-1.55%	-15.91%	-6.13%	-130.80%	3.11%	3.30%	4.13%	1.89%	4.20%	2.03%	3.76%
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.70%	-	-	-	3.52%	2.79%	2.77%	2.58%	3.04%
Cost of Revenue to Revenue	93.09%	92.51%	93.26%	98.34%	92.54%	91.89%	90.94%	91.20%	91.30%	90.98%	90.38%
SG&A Expenses to Revenue	3.41%	3.19%	3.19%	3.05%	3.37%	3.30%	3.68%	3.66%	3.54%	3.82%	3.83%
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	3.79%	3.43%	3.66%	3.39%	3.77%	3.58%	3.97%	4.03%	3.97%	4.67%	4.11%
Earnings before Interest and Taxes (EBIT)	204	267	189	-98	232	301	329	321	304	309	364
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	337	394	319	49	358	432	473	459	446	465	499
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.27	2.04	2.22	2.26	2.37	2.66	2.98	2.53	3.66	4.24	4.36
Price to Tangible Book Value (P/TBV)	3.26	2.81	3.04	3.05	3.27	3.67	4.49	3.82	5.49	6.38	6.48
Price to Revenue (P/Rev)	0.44	0.44	0.51	0.46	0.46	0.52	0.58	0.49	0.71	0.81	0.83
Price to Earnings (P/E)	15.55	15.33	17.59	11.98	12.35	14.10	14.73	15.12	20.90	24.36	26.22
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	6.43%	6.52%	5.68%	8.35%	8.10%	7.09%	6.79%	6.61%	4.78%	4.11%	3.81%
Enterprise Value to Invested Capital (EV/IC)	2.02	1.89	2.02	2.10	2.15	2.36	2.56	2.20	3.07	3.52	3.65
Enterprise Value to Revenue (EV/Rev)	0.48	0.48	0.56	0.49	0.50	0.57	0.64	0.55	0.77	0.87	0.88
Enterprise Value to EBITDA (EV/EBITDA)	9.42	9.32	11.29	9.54	9.38	10.27	10.43	8.17	11.08	12.38	12.71
Enterprise Value to EBIT (EV/EBIT)	14.56	14.75	19.07	15.87	15.31	16.57	16.08	11.90	15.98	18.08	18.32
Enterprise Value to NOPAT (EV/NOPAT)	16.49	16.63	21.86	11.49	11.82	13.45	13.53	14.70	19.45	22.43	23.69
Enterprise Value to Operating Cash Flow (EV/OCF)	14.82	11.10	13.12	9.68	7.72	8.90	9.28	9.35	12.83	13.41	13.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	20.71	6.98	7.89	8.30	21.18	42.82	34.97	27.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.62	0.54	0.53	0.61	0.64	0.74	0.74	0.74	0.72	0.73	0.87
Long-Term Debt to Equity	0.60	0.54	0.53	0.61	0.53	0.64	0.63	0.50	0.59	0.60	0.73
Financial Leverage	0.24	0.19	0.19	0.06	0.18	0.14	0.18	0.21	0.24	0.25	0.27
Leverage Ratio	4.12	3.91	3.73	3.60	3.59	3.48	3.38	3.55	3.66	3.80	3.87
Compound Leverage Factor	3.31	3.42	3.00	4.77	2.97	3.05	2.96	3.08	2.96	3.22	3.40
Debt to Total Capital	38.32%	34.93%	34.76%	37.98%	39.15%	42.57%	42.43%	42.47%	41.97%	42.29%	46.41%
Short-Term Debt to Total Capital	1.61%	0.00%	0.03%	0.00%	6.61%	6.10%	6.14%	13.91%	7.72%	7.75%	7.06%
Long-Term Debt to Total Capital	36.71%	34.93%	34.73%	37.98%	32.54%	36.48%	36.29%	28.56%	34.25%	34.54%	39.35%
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	4.05%	4.61%	4.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.63%	60.46%	60.38%	62.02%	60.85%	57.43%	57.57%	57.53%	58.03%	57.71%	53.59%
Debt to EBITDA	2.49	2.44	2.69	2.42	2.35	2.64	2.36	2.14	2.03	2.00	2.38
Net Debt to EBITDA	0.65	0.37	0.53	0.58	0.71	0.79	0.88	0.81	0.80	0.78	0.74
Long-Term Debt to EBITDA	2.39	2.44	2.69	2.42	1.95	2.26	2.02	1.44	1.66	1.64	2.02
Debt to NOPAT	4.36	4.36	5.21	2.92	2.96	3.46	3.06	3.86	3.57	3.63	4.43
Net Debt to NOPAT	1.13	0.65	1.02	0.70	0.90	1.03	1.14	1.47	1.40	1.42	1.38
Long-Term Debt to NOPAT	4.18	4.36	5.21	2.92	2.46	2.96	2.62	2.59	2.91	2.97	3.76
Altman Z-Score	2.11	2.13	2.20	2.32	2.35	2.33	2.46	2.32	2.54	2.61	2.58
Noncontrolling Interest Sharing Ratio	4.66%	5.08%	5.22%	3.22%	3.52%	3.96%	4.20%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.46	1.53	1.59	1.52	1.40	1.43	1.41	1.30	1.36	1.33	1.40
Quick Ratio	0.60	0.66	0.68	0.64	0.58	0.66	0.63	0.61	0.62	0.59	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-925	-812	-894	-557	922	998	1,062	-50	-320	-139	150
Operating Cash Flow to CapEx	3.85%	247.92%	221.88%	881.82%	314.81%	319.00%	385.98%	400.93%	304.58%	306.08%	289.66%
Free Cash Flow to Firm to Interest Expense	-16.52	-16.56	-17.88	-6.97	16.46	18.83	18.63	-0.97	-6.28	-2.68	2.58
Operating Cash Flow to Interest Expense	0.11	7.29	5.68	8.49	6.07	6.02	7.25	8.33	7.82	8.71	7.24
Operating Cash Flow Less CapEx to Interest Expense	-2.68	4.35	3.12	7.53	4.14	4.13	5.37	6.25	5.25	5.87	4.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.37	1.31	1.25	1.33	1.34	1.29	1.32	1.41	1.41	1.38	1.37
Accounts Receivable Turnover	7.43	7.02	6.86	8.11	7.69	6.97	7.32	7.70	7.58	7.16	7.43
Inventory Turnover	3.54	3.41	3.30	3.61	3.59	3.73	3.90	4.20	4.31	4.47	4.51
Fixed Asset Turnover	12.47	12.02	11.21	11.46	11.26	11.11	11.20	11.23	11.44	11.43	11.58
Accounts Payable Turnover	4.15	4.04	4.06	4.82	4.52	4.34	4.56	4.92	4.53	4.26	4.24
Days Sales Outstanding (DSO)	49.10	52.02	53.20	45.00	47.44	52.37	49.84	47.40	48.13	51.00	49.10
Days Inventory Outstanding (DIO)	103.15	107.13	110.58	101.05	101.73	97.78	93.65	87.00	84.66	81.67	80.90
Days Payable Outstanding (DPO)	87.89	90.25	89.97	75.77	80.80	84.16	80.01	74.18	80.66	85.73	86.10
Cash Conversion Cycle (CCC)	64.36	68.90	73.81	70.28	68.36	65.99	63.48	60.21	52.13	46.95	43.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,721	6,868	7,115	6,112	5,968	6,111	6,358	6,405	6,531	6,475	6,499
Invested Capital Turnover	4.55	4.29	3.93	4.51	4.07	3.92	3.80	4.12	4.17	4.18	4.17
Increase / (Decrease) in Invested Capital	1,118	1,054	1,062	497	-753	-757	-757	293	563	364	141
Enterprise Value (EV)	13,601	13,012	14,396	12,836	12,816	14,434	16,253	14,076	20,067	22,777	23,721
Market Capitalization	12,286	12,050	13,246	12,049	11,844	13,326	14,887	12,673	18,625	21,337	22,343
Book Value per Share	$12.16	$13.22	$13.72	$12.64	$12.44	$12.60	$12.87	$13.06	$13.63	$13.42	$13.85
Tangible Book Value per Share	$8.47	$9.61	$10.01	$9.37	$9.03	$9.15	$8.55	$8.66	$9.08	$8.91	$9.32
Total Capital	9,381	9,768	9,879	8,586	8,211	8,712	8,671	8,694	8,770	8,724	9,556
Total Debt	3,595	3,412	3,434	3,261	3,215	3,709	3,679	3,692	3,681	3,689	4,435
Total Long-Term Debt	3,444	3,412	3,431	3,261	2,672	3,178	3,147	2,483	3,004	3,013	3,760
Net Debt	935	512	670	787	972	1,108	1,366	1,403	1,442	1,440	1,378
Capital Expenditures (CapEx)	156	144	128	77	108	100	107	108	131	148	145
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,393	2,457	2,730	1,979	1,879	1,975	1,938	1,911	1,984	1,895	1,914
Debt-free Net Working Capital (DFNWC)	5,053	5,357	5,494	4,453	4,122	4,576	4,251	4,200	4,223	4,144	4,971
Net Working Capital (NWC)	4,902	5,357	5,491	4,453	3,579	4,045	3,719	2,991	3,546	3,468	4,296
Net Nonoperating Expense (NNE)	-18	-164	-65	-455	30	27	42	21	51	26	52
Net Nonoperating Obligations (NNO)	935	512	670	787	972	1,108	1,366	1,403	1,442	1,440	1,378
Total Depreciation and Amortization (D&A)	133	127	130	147	126	131	144	138	142	156	135
Debt-free, Cash-free Net Working Capital to Revenue	8.53%	9.03%	10.55%	7.49%	7.27%	7.76%	7.58%	7.40%	7.61%	7.20%	7.13%
Debt-free Net Working Capital to Revenue	18.02%	19.68%	21.23%	16.86%	15.95%	17.98%	16.62%	16.27%	16.20%	15.74%	18.52%
Net Working Capital to Revenue	17.48%	19.68%	21.22%	16.86%	13.85%	15.89%	14.54%	11.59%	13.60%	13.17%	16.01%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	$0.37	$0.46	$0.91	$0.35	$0.54	$0.68	$0.57	$0.51	$0.53	$0.65
Adjusted Weighted Average Basic Shares Outstanding	608.70M	603.25M	431M	435M	402M	394M	387M	391M	374M	374M	369M
Adjusted Diluted Earnings per Share	$0.30	$0.37	$0.45	$0.91	$0.34	$0.54	$0.67	$0.57	$0.50	$0.52	$0.64
Adjusted Weighted Average Diluted Shares Outstanding	619.59M	610.06M	436M	441M	411M	400M	394M	398M	381M	380M	376M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.91	$0.00	$0.00	$0.00	$0.57	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	608.19M	592.16M	421.16M	401.64M	397.07M	387.78M	383.10M	373.32M	375.32M	369.79M	367.67M
Normalized Net Operating Profit after Tax (NOPAT)	198	242	179	-60	175	242	307	245	248	257	294
Normalized NOPAT Margin	2.87%	3.50%	2.79%	-1.20%	2.77%	3.70%	4.68%	3.83%	3.77%	3.77%	4.17%
Pre Tax Income Margin	2.38%	3.36%	2.37%	-2.63%	3.04%	4.03%	4.39%	4.36%	3.74%	3.85%	4.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.64	5.45	3.78	-1.23	4.14	5.68	5.77	6.17	5.96	5.94	6.28
NOPAT to Interest Expense	3.44	4.95	3.36	-0.75	3.01	4.54	5.35	4.67	4.76	4.32	5.01
EBIT Less CapEx to Interest Expense	0.86	2.51	1.22	-2.19	2.21	3.79	3.89	4.10	3.39	3.10	3.78
NOPAT Less CapEx to Interest Expense	0.66	2.01	0.80	-1.72	1.08	2.66	3.47	2.59	2.19	1.48	2.51
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	33.65%	48.48%	68.01%	104.26%	132.82%	157.90%	145.90%	150.00%	117.51%	119.18%	122.42%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused look at Flex (NASDAQ:FLEX) using the latest four years of quarterly statements provided. The mix of cash flow, income, and balance sheet data shows growth in revenue and solid operating cash flow, but also a sizable leverage position that investors should monitor.

Strong quarterly operating cash flow in 2026 year-to-date: Q1 $399M, Q2 $453M, Q3 $420M from continuing operations, supporting liquidity and optionality.
Revenue trend in 2026: Q3 revenue around $7.058B, up from roughly $6.58B in Q1 2026 and $6.80B in Q2 2026, indicating top-line momentum heading into the latter part of 2026.
Solid cash balance: cash & equivalents near $3.06B by Q3 2026, enhancing liquidity for operations and capex.
Net income and earnings per share: positive net income in recent quarters (e.g., Q3 2026 net income attributable to common shareholders $239M; Q3 2026 diluted EPS $0.64; basic EPS $0.65), suggesting ongoing profitability.
Debt financing activity: flexibly accessed debt markets with a notable debt issuance of $751M in Q3 2026, expanding financing capacity for growth initiatives.
Shareholder equity base: total equity around $5.1B (Q3 2026), providing a reasonable base to support ongoing operations and investment needs.
Gross margin variability: total gross profit as a share of revenue has generally trended in a wide band (roughly 9–12% across many quarters), indicating margin pressure that can reflect mix, pricing, or input costs.
Capex cadence: quarterly purchases of property, plant & equipment typically around $100–150M in 2026 (e.g., Q1: ~ $133M, Q2: ~ $150M, Q3: ~ $148M), suggesting ongoing, moderate infrastructure investment rather than aggressive expansion.
High leverage and liabilities: Total liabilities around $15.7B (Q3 2026) with total equity near $5.1B, implying a debt-heavy balance sheet and a Debt-to-Equity position that warrants careful risk monitoring.
Financing cash outflows in several quarters: net cash from financing activities has often been negative due to share repurchases and debt repayments (for example, notable share repurchases and other financing outflows in recent quarters), which can pressure liquidity if cash flow slows.

05/16/26 06:45 PM ETAI Generated. May Contain Errors.

Flex Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Flex's fiscal year ends in March. Their fiscal year 2025 ended on March 31, 2025.

Flex's net income appears to be on an upward trend, with a most recent value of $838 million in 2025, rising from $600.80 million in 2015. The previous period was $1.25 billion in 2024. See where experts think Flex is headed by visiting Flex's forecast page.

Flex's total operating income in 2025 was $1.17 billion, based on the following breakdown:

Total Gross Profit: $2.16 billion
Total Operating Expenses: $990 million

Over the last 10 years, Flex's total revenue changed from $26.15 billion in 2015 to $25.81 billion in 2025, a change of -1.3%.

Flex's total liabilities were at $13.38 billion at the end of 2025, a 3.5% increase from 2024, and a 44.5% increase since 2015.

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 $2.29 billion as of their latest financial filing in 2025.

Over the last 10 years, Flex's book value per share changed from 4.12 in 2015 to 13.06 in 2025, a change of 216.6%.

Related Companies

Financial statements for NASDAQ:FLEX last updated on 2/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Flex (FLEX) Financials

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Flex (FLEX) Financials

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When does Flex's financial year end?

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