Overview
FLEX LTD.
Latest 10-K: FY2026, filed May 20, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $27.91B
- 8.1%YoYup from FY2025
- TotalRevenue
- Gross profit
- $2.57B
- 18.9%YoYup from FY2025
- GrossProfit
- Operating income
- $1.37B
- 17.0%YoYup from FY2025
- OperatingIncome
- Net income
- $0.88B
- 5.0%YoYup from FY2025
- NetIncome
- Diluted EPS
- $2.33
- 10.4%YoYup from FY2025
- EPSDiluted
- Diluted shares
- 378.0M
- 5.0%YoYdown from FY2025
- WeightedAvgSharesDiluted
At a glance
Growth
- FLEX LTD. reported revenue of $27.91B for fiscal 2026, up 8.1% from fiscal 2025.
- Revenue grew faster than the median S&P 500 member in 1 of the last 4 fiscal years.
Profitability
- Operating margin was 4.9% and net margin was 3.2%.
Per share
- Diluted EPS was $2.33, up 10.4% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $27.91B8.1%up | $25.81B2.3%down Benchmark median 6.4% | $26.41B7.3%down Benchmark median 4.5% | $28.50B15.7%up Benchmark median 4.8% | $24.63B2.1%up Benchmark median 10.3% | 3.2% |
| Gross Profit Median of 315 / 498 | $2.57B18.9%up | $2.16B15.8%up Benchmark median 6.8% | $1.86B5.6%down Benchmark median 5.5% | $1.98B11.0%up Benchmark median 5.2% | $1.78B5.5%up Benchmark median 8.3% | 9.6% |
| Operating Income Median of 373 / 498 | $1.37B17.0%up | $1.17B37.0%up Benchmark median 7.3% | $0.85B16.1%down Benchmark median 7.4% | $1.02B14.3%up Benchmark median 4.9% | $0.89B11.9%up Benchmark median 7.5% | 11.3% |
| Net Income | $0.88B5.0%up | $0.84B16.7%down Benchmark median 4.8% | $1.01B26.9%up Benchmark median 5.7% | $0.79B15.3%down Benchmark median 1.9% | $0.94B52.7%up Benchmark median 1.3% | -1.5% |
| EPS (Diluted) | $2.3310.4%up | $2.117.5%down Benchmark median 6.2% | $2.2832.6%up Benchmark median 7.9% | $1.7211.3%down Benchmark median 1.9% | $1.9460.3%up Benchmark median 1.5% | 4.7% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $22.06B20.0%up | $18.38B0.7%up Benchmark median 5.6% | $18.26B14.7%down Benchmark median 3.4% | $21.41B10.8%up Benchmark median 4.1% | $19.32B22.0%up Benchmark median 2.2% | 3.4% |
| Total Liabilities Median of 357 / 498 | $16.92B26.4%up | $13.38B3.5%up Benchmark median 6.4% | $12.93B17.6%down Benchmark median 1.9% | $15.70B3.9%up Benchmark median 2.9% | $15.12B21.9%up Benchmark median 2.0% | 2.8% |
| Stockholders' Equity | $5.14B2.8%up | $5.00B6.1%down Benchmark median 6.8% | $5.33B6.7%down Benchmark median 5.4% | $5.71B38.2%up Benchmark median 7.3% | $4.13B20.2%up Benchmark median 2.5% | 5.6% |
| Cash & Equivalents | $2.39B4.4%up | $2.29B7.5%down Benchmark median 5.2% | $2.47B21.8%down Benchmark median 1.9% | $3.16B6.7%up Benchmark median 6.7% | $2.96B12.4%up Benchmark median -8.6% | -5.2% |
| Total Debt | $3.75B1.6%up | $3.69B13.2%up Benchmark median 2.1% | $3.26B11.7%down Benchmark median 0.2% | $3.69B12.0%down Benchmark median 0.3% | $4.20B10.9%up Benchmark median 0.1% | -2.8% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.69B12.0%up | $1.50B13.5%up Benchmark median 6.3% | $1.33B39.6%up Benchmark median 4.8% | $0.95B7.2%down Benchmark median 9.9% | $1.02B611.1%up Benchmark median -0.7% | 13.3% |
| Capital Expenditures | $633.00M44.5%up | $438.00M17.4%down Benchmark median 5.4% | $530.00M16.5%down Benchmark median 2.8% | $635.00M43.3%up Benchmark median 11.3% | $443.00M26.2%up Benchmark median 14.0% | 9.3% |
| Free Cash Flow Median of 378 / 498 | $1.05B1.4%down | $1.07B34.0%up Benchmark median 7.3% | $0.80B152.7%up Benchmark median 6.1% | $0.32B45.8%down Benchmark median 8.8% | $0.58Bn/m Benchmark median -11.3% | 16.0% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2026Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.6%
Wall Street
on net earnings
FY2025 6.4%
4.3%
Value investor
on free cash flow
FY2025 8.1%
Gap +0.7 pts: Value-investor figure 0.7 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 28.1×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
7.0%
Wall Street
on EBITDA
FY2025 11.0%
5.2%
Value investor
on EBIT
FY2025 8.0%
Gap −1.8 pts: Value-investor figure 1.8 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 14.3×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
20.8%
Wall Street
on book equity
FY2025 38.0%
14.1%
Value investor
on tangible book
FY2025 25.2%
Gap −6.7 pts: Value-investor figure 6.7 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 4.8×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
17.3%
Wall Street
ROE: net income ÷ equity
FY2025 16.2%
13.8%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2025 12.9%
Gap −3.5 pts: Value-investor figure 3.5 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
6.5%
Wall Street
EBITDA margin
FY2025 6.2%
3.8%
Value investor
Free-cash-flow margin
FY2025 4.1%
Gap −2.7 pts: Value-investor figure 2.7 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.36×
Wall Street
Current ratio
FY2025 1.30×
0.87×
Value investor
Quick ratio, inventory excluded
FY2025 0.79×
Gap −0.49×: Value-investor figure 0.49 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.49×
Wall Street
EBITDA ÷ total debt
FY2025 0.44×
0.28×
Value investor
FCF ÷ total debt
FY2025 0.29×
Gap −0.21×: Value-investor figure 0.21 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 0.75×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
9.3×
Wall Street
EBITDA ÷ interest
FY2025 8.7×
6.9×
Value investor
EBIT ÷ interest
FY2025 6.3×
Gap −2.4×: Value-investor figure 2.4 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on FLEX yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on FLEX and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/FLEX
Valuein. (2026, October 30). FLEX LTD. (FLEX) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/FLEX
@misc{valuein_flex_2026,
author = {{Valuein}},
title = {FLEX LTD. (FLEX) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/FLEX}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed May 20, 2026 · accession 0000866374-26-000012
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point-in-time · survivorship-free · every number traceable to its SEC filing
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