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Flex Ltd.

Flex Ltd.

NASDAQ•FLEX
CEO: Ms. Revathi Advaithi
Sector: Technology
Industry: Hardware, Equipment & Parts
Listing Date: 1994-03-18
Flex Ltd. provides manufacturing solutions to various brands in Asia, the Americas, and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise, and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution, including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices. Its FRS segment provides complex ramps with specialized production models and critical environments, which comprise automotive including next generation mobility, autonomous, connectivity, electrification, and smart technologies; health solutions, such as medical devices, medical equipment, and drug delivery; and industrial solutions, including capital equipment, industrial devices, embedded and critical power offerings, and renewables and grid edge. In addition, it provides various services, including design and engineering, such as product design and engineering resources that provide design services, product development, systems integration services, and solutions; supply chain comprising manufacturing, customization, procurement, logistics services, and innovative supply chain solutions; manufacturing; logistics and value-added fulfillment, including warehousing and vendor managed inventory, omni-channel fulfillment, kitting, configuration, and postponement; and integrated reverse logistics and circular economy. Further, the company offers embedded and critical power solutions. The company was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in September 2016. Flex Ltd. was founded in 1969 and is headquartered in Austin, Texas.
Contact Information
12455 Research Boulevard, Austin, TX, 78759, United States
N/A
www.flex.com
Market Cap
$23.57B
P/E (TTM)
27.6
72.4
Dividend Yield
--
52W High
$72.22
52W Low
$25.11
52W Range
82%
Rank40Top 31.7%
4.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2026 Data

Revenue

$6.80B+3.96%
4-Quarter Trend

EPS

$0.52-3.70%
4-Quarter Trend

FCF

$303.00M+40.28%
4-Quarter Trend

2026 Q2 Earnings Highlights

Key Highlights

Six-Month Net Sales Growth Net sales reached $13.38B, increasing 4% from $12.86B for the six-month period ended September 2025.
Gross Margin Expansion Gross margin improved 110 basis points to 8.9% of net sales, driven by favorable mix and operational execution.
Operating Cash Flow Strong Net cash provided by operating activities was $852M, up from $659M year over year for the six-month period.
Net Income Increased Six-month net income grew to $391M, up from $353M, reflecting better operational leverage this reporting period.

Risk Factors

Ukraine Facility Impairment Recognized $41M total expense from missile strike, including $23M asset impairment and inventory write-downs in Q2.
Global Economic Uncertainty Ongoing geopolitical conflicts, tariffs, and inflation create uncertainty impacting financial markets and future business results.
Foreign Tax Assessment Foreign Tax Authority assessed $167M in cumulative taxes owed; management actively contesting these uncertain positions.
Contingent Consideration Risk Contingent consideration related to prior acquisitions remains a Level 3 measurement, subject to unobservable inputs.

Outlook

New Credit Facility Secured Entered new $2.75B 2030 Credit Facility in July 2025, providing liquidity and replacing prior facility due in 2027.
Share Repurchase Authorization $1.5B remains available for share repurchases under the current mandate approved by the Board in August 2025.
FRS Segment Acquisition Completed $35M acquisition in Poland for FRS segment, adding manufacturing capabilities in the first quarter of FY2026.
Strategic Portfolio Optimization Strategy focuses on portfolio reorganization to align extensive service offerings with evolving customer requirements globally.

Peer Comparison

Revenue (TTM)

Jabil Inc.JBL
$31.11B
+13.2%
Flex Ltd.FLEX
$26.33B
+3.5%
Celestica Inc.CLS
$11.25B
+21.7%

Gross Margin (Latest Quarter)

Check Point Software Technologies Ltd.CHKP
85.3%
-2.1pp
NetApp, Inc.NTAP
70.5%
-0.7pp
Trimble Inc.TRMB
68.9%
+3.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CLS$34.91B50.138.5%11.9%
TER$31.89B71.115.9%6.8%
JBL$25.11B35.851.1%17.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.2%
Moderate Growth
4Q Net Income CAGR
-8.9%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$0.78
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q2 2026

    Period End: Sep 26, 2025|Filed: Oct 31, 2025|
    Revenue: $6.80B+4.0%
    |
    EPS: $0.52-3.7%
    Miss
  • Form 10-Q - Q1 2026

    Period End: Jun 27, 2025|Filed: Jul 25, 2025|
    Revenue: $6.58B+4.1%
    |
    EPS: $0.50+42.9%
    Miss
  • Form 10-K - FY 2025

    Period End: Mar 31, 2025|Filed: May 21, 2025|
    Revenue: $25.81B-2.3%
    |
    EPS: $2.14-7.4%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Dec 31, 2024|Filed: Jan 31, 2025|
    Revenue: $6.56B+2.1%
    |
    EPS: $0.68+47.8%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Sep 27, 2024|Filed: Oct 31, 2024|
    Revenue: $6.55B-12.4%
    |
    EPS: $0.54+5.9%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Jun 28, 2024|Filed: Jul 26, 2024|
    Revenue: $6.31B-13.9%
    |
    EPS: $0.35-16.7%
    Miss
  • Form 10-K - FY 2024

    Period End: Mar 31, 2024|Filed: May 17, 2024|
    Revenue: $26.42B-7.3%
    |
    EPS: $2.31+32.0%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Dec 31, 2023|Filed: Feb 2, 2024|
    Revenue: $6.42B-17.2%
    |
    EPS: $0.46-9.8%
    Miss