FLEX · Flex Ltd. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.58B | $7.06B | $6.80B | $6.31B | $6.56B | $6.54B | $7.34B | $7.10B | $7.47B | $7.35B |
| Cost of Revenue | $5.99B | $6.37B | $6.18B | $5.83B | $5.95B | $6.00B | $6.73B | $6.40B | $6.80B | $6.81B |
| Gross Profit | $572.00M | $679.00M | $614.00M | $471.00M | $594.00M | $531.00M | $587.00M | $642.00M | $665.00M | $535.00M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $233.00M | $270.00M | $260.00M | $213.00M | $241.00M | $216.00M | $270.00M | $264.00M | $272.00M | $241.00M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $142.00M | $113.00M | $114.00M | $126.00M | - | - | $133.00M | - | - | $124.00M |
| Operating Income | $311.00M | $389.00M | $296.00M | $233.00M | $334.00M | $297.00M | $291.00M | $348.00M | $376.00M | $255.00M |
| Interest Expense | $45.00M | $54.00M | $47.00M | $43.00M | $50.00M | $46.00M | $47.00M | $42.00M | $42.00M | $43.00M |
| Income Tax | $54.00M | $81.00M | $63.00M | $53.00M | $25.00M | $50.00M | $28.00M | $74.00M | ($81.00M) | $37.00M |
| Net Income | $192.00M | $239.00M | $199.00M | $139.00M | $263.00M | $214.00M | $186.00M | $197.00M | $228.00M | $206.00M |
| EPS - Basic | $0.51 | $0.65 | $0.53 | $0.35 | $0.68 | $0.54 | $0.42 | $0.46 | $0.38 | $0.31 |
| EPS - Diluted | $0.50 | $0.64 | $0.52 | $0.34 | $0.67 | $0.54 | $0.41 | $0.45 | $0.38 | $0.30 |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.39B | $3.06B | $2.25B | $2.29B | $2.31B | $2.60B | $2.47B | $2.76B | $2.90B | $3.29B |
| Accounts Receivable | $4.68B | $3.84B | $3.86B | $3.67B | $3.38B | $3.50B | $3.03B | $3.60B | $3.80B | $3.74B |
| Inventory | $5.84B | $5.55B | $5.27B | $5.07B | $5.27B | $5.47B | $6.21B | $6.82B | $7.17B | $7.53B |
| Accounts Payable | $8.05B | $6.48B | $6.13B | $5.15B | $5.03B | $5.14B | $4.47B | $5.29B | $5.73B | $5.93B |
| Current Assets | $16.33B | $15.15B | $13.84B | $12.84B | $12.76B | $13.35B | $12.99B | $14.88B | $15.46B | $16.02B |
| Total Assets | $22.06B | $20.82B | $19.55B | $18.38B | $18.27B | $18.59B | $18.26B | $20.37B | $20.97B | $21.39B |
| Current Liabilities | $12.02B | $10.86B | $10.37B | $9.85B | $9.04B | $9.31B | $8.54B | $9.39B | $10.11B | $10.86B |
| Long-term Debt | $3.75B | $3.76B | $3.01B | $2.48B | $3.15B | $3.18B | $3.26B | $3.43B | $3.41B | $3.69B |
| Total Liabilities | $16.92B | $15.70B | $14.51B | $13.38B | $13.28B | $13.58B | $12.93B | $13.92B | $14.61B | $15.69B |
| Stockholders' Equity | $5.14B | $5.12B | $5.04B | $5.00B | $4.99B | $5.00B | $5.33B | $5.96B | $5.91B | $5.35B |
| Retained Earnings | $2.16B | $1.91B | $1.68B | $1.28B | $1.06B | $799.00M | $446.00M | $51.00M | ($146.00M) | ($560.00M) |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $399.00M | - | - | $340.00M | - | - | $6.00M | - | - | $38.00M |
| Investing Cash Flow | ($179.00M) | - | - | ($82.00M) | - | - | ($155.00M) | - | - | ($89.00M) |
| Financing Cash Flow | ($283.00M) | - | - | ($468.00M) | - | - | ($486.00M) | - | - | ($210.00M) |
| CapEx | $133.00M | - | - | $111.00M | - | - | $167.00M | - | - | $107.00M |
| Free Cash Flow | $266.00M | - | - | $229.00M | - | - | ($161.00M) | - | - | ($69.00M) |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 8.7% | 9.6% | 9.0% | 7.5% | 9.1% | 8.1% | 8.0% | 9.0% | 8.9% | 7.3% |
| Operating margin | 4.7% | 5.5% | 4.4% | 3.7% | 5.1% | 4.5% | 4.0% | 4.9% | 5.0% | 3.5% |
| EBITDA margin | 6.9% | 7.1% | 6.0% | 5.7% | - | - | 5.8% | - | - | 5.2% |
| Net margin | 2.9% | 3.4% | 2.9% | 2.2% | 4.0% | 3.3% | 2.5% | 2.8% | 3.1% | 2.8% |
| Free cash flow margin | 4.0% | - | - | 3.6% | - | - | -2.2% | - | - | -0.9% |
| FCF / Net income | 1.39 | - | - | 1.65 | - | - | -0.87 | - | - | -0.33 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.5% | 3.8% | 3.8% | 3.4% | 3.7% | 3.3% | 3.7% | 3.7% | 3.6% | 3.3% |
| Effective tax rate | 22.0% | 25.3% | 24.0% | 27.6% | 8.7% | 18.9% | 13.1% | 27.3% | -55.1% | 15.2% |
| Return on assets | 0.9% | 1.1% | 1.0% | 0.8% | 1.4% | 1.2% | 1.0% | 1.0% | 1.1% | 1.0% |
| Return on equity | 3.7% | 4.7% | 4.0% | 2.8% | 5.3% | 4.3% | 3.5% | 3.3% | 3.9% | 3.8% |
| Return on invested capital | 2.7% | 3.3% | 2.8% | 2.3% | 3.7% | 2.9% | 2.9% | 2.7% | 4.0% | 2.4% |
| Liquidity | ||||||||||
| Current ratio | 1.36 | 1.40 | 1.33 | 1.30 | 1.41 | 1.43 | 1.52 | 1.59 | 1.53 | 1.48 |
| Quick ratio | 0.87 | 0.88 | 0.83 | 0.79 | 0.83 | 0.85 | 0.79 | 0.86 | 0.82 | 0.78 |
| Cash ratio | 0.20 | 0.28 | 0.22 | 0.23 | 0.26 | 0.28 | 0.29 | 0.29 | 0.29 | 0.30 |
| Leverage | ||||||||||
| Debt / Equity | 0.73 | 0.73 | 0.60 | 0.50 | 0.63 | 0.64 | 0.61 | 0.58 | 0.58 | 0.69 |
| Debt / Assets | 0.17 | 0.18 | 0.15 | 0.14 | 0.17 | 0.17 | 0.18 | 0.17 | 0.16 | 0.17 |
| Debt / EBITDA | 8.28 | 7.49 | 7.35 | 6.92 | - | - | 7.69 | - | - | 9.74 |
| Interest coverage | 6.9x | 7.2x | 6.3x | 5.4x | 6.7x | 6.5x | 6.2x | 8.3x | 9.0x | 5.9x |
| Equity multiplier | 4.29 | 4.07 | 3.88 | 3.67 | 3.66 | 3.71 | 3.43 | 3.41 | 3.55 | 4.00 |
| Liabilities / Assets | 0.77 | 0.75 | 0.74 | 0.73 | 0.73 | 0.73 | 0.71 | 0.68 | 0.70 | 0.73 |
| Efficiency | ||||||||||
| Asset turnover | 0.30 | 0.34 | 0.35 | 0.34 | 0.36 | 0.35 | 0.40 | 0.35 | 0.36 | 0.34 |
| Inventory turnover | 1.02 | 1.15 | 1.17 | 1.15 | 1.13 | 1.10 | 1.08 | 0.94 | 0.95 | 0.90 |
| Days sales outstanding | 260d | 198d | 207d | 212d | 188d | 195d | 151d | 185d | 186d | 186d |
| Days inventory outstanding | 356d | 318d | 311d | 318d | 323d | 333d | 336d | 389d | 384d | 403d |
| Days payable outstanding | 491d | 371d | 362d | 322d | 309d | 313d | 242d | 302d | 307d | 318d |
| Cash conversion cycle | 125d | 145d | 156d | 207d | 203d | 215d | 245d | 272d | 263d | 271d |
| Valuation | ||||||||||
| P / E | 130.9x | 94.4x | 109.3x | 97.3x | 57.3x | 62.1x | 69.8x | 51.0x | 52.9x | 57.5x |
| P / B | 4.8x | 4.4x | 4.3x | 2.7x | 3.0x | 2.7x | 2.4x | 1.7x | 1.5x | 1.5x |
| P / S | 3.8x | 3.2x | 3.2x | 2.2x | 2.3x | 2.1x | 1.8x | 1.4x | 1.2x | 1.1x |
| EV / EBITDA | 58.1x | 46.7x | 54.6x | 38.4x | - | - | 32.6x | - | - | 22.5x |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.1% | 7.7% | 4.0% | -13.9% | -7.7% | -12.4% | -0.1% | -8.4% | -3.8% | 15.8% |
| Revenue CAGR (3y) | -3.6% | -3.1% | -4.3% | -0.1% | -0.3% | 1.7% | 12.5% | 1.9% | 7.7% | 6.0% |
| Revenue CAGR (5y) | 5.0% | 1.0% | 2.6% | 0.4% | 0.3% | 1.5% | - | - | - | 4.1% |
| Gross profit growth (YoY) | 21.4% | 14.3% | 15.6% | -19.8% | -7.5% | -20.2% | 9.7% | 10.1% | 12.5% | 13.6% |
| Operating income growth (YoY) | 33.5% | 16.5% | -0.3% | -19.9% | -4.0% | -21.0% | 14.1% | 8.4% | 15.7% | 9.4% |
| Net income growth (YoY) | 38.1% | -9.1% | -7.0% | -25.3% | 33.5% | -6.1% | -9.7% | -14.3% | -32.1% | 0.0% |
| EPS growth (YoY) | 47.1% | -4.5% | -3.7% | -17.1% | 48.9% | 40.5% | 36.0% | -10.0% | -23.1% | -26.5% |
| EPS CAGR (3y) | 18.4% | 8.6% | 1.3% | -6.0% | 11.8% | -7.8% | 60.1% | 3.2% | 20.4% | 49.6% |
| EPS CAGR (5y) | 38.0% | 9.3% | 18.8% | 30.5% | 24.9% | - | 13.3% | - | 19.2% | 5.6% |
| FCF growth (YoY) | 16.2% | - | - | - | - | - | -133.3% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 2.8% | 2.6% | 0.6% | -6.1% | -16.3% | -15.3% | -0.5% | 32.4% | 41.3% | 52.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-03-31.
Business segments
$19.01B totalIntegrated Technology Solutions ITS$6.98B · 36.7%
Cloud Power Infrastructure CPI$6.16B · 32.4%
Regulated Manufacturing Solutions RMS$5.87B · 30.9%
Geographic
$47.75B totalAmericas$13.82B · 28.9%
Asia$8.40B · 17.6%
MX$6.99B · 14.6%
Europe$5.69B · 11.9%
US$5.19B · 10.9%
CN$4.49B · 9.4%
MY$2.97B · 6.2%
SG$194.00M · 0.4%
Peer comparison
Same SIC group: Printed Circuit Boards
Comparing FLEX LTD. against the 5 most active filers in the same SIC group.