Financials · FLEX

Flex Ltd. (FLEX) financials

For the twelve months ended Sep 25, 2026, Flex Ltd. reported $30.95B of revenue and $1.04B of net income.

Revenue, TTM
$30.95B
Revenue growth, YoY
+17.5%
Net income, TTM
$1.04B
Net income growth, YoY
+18.4%
Net margin
3.4%
Free cash flow, TTM
$783.00M
EPS, diluted, TTM
$2.77
EPS growth, YoY
+22.6%
Cash
$3.08B
Total debt
$5.21B
P/E
24.86
P/S
0.83
Market cap
$25.78B
Annual revenue$27.91B
FY2017FY2026
Annual net income$880.00M
FY2017FY2026
Annual free cash flow$1.05B
FY2017FY2026

FLEX revenue and earnings growth

FLEX revenueQ2 2027$8.49B

Quarter YoY
+24.8%
QoQ
+7.1%
FY YoY
+8.1%
5Y CAGR
+3.0%
10Y CAGR
+1.3%

FLEX revenue was $8.49B in fiscal Q2 2027 (ended Sep 25, 2026), up 24.8% from a year earlier and up 7.1% from the prior quarter. For the full fiscal 2026 it was $27.91B, up 8.1% from fiscal 2025. Compound annual growth was +3.0% over 5 years and +1.3% over 10 years. It rose in 5 of the last 10 fiscal years.

FLEX net incomeQ2 2027$263.00M

Quarter YoY
+32.2%
QoQ
-7.7%
FY YoY
+5.0%
5Y CAGR
+7.5%
10Y CAGR
+7.1%

FLEX net income was $263.00M in fiscal Q2 2027 (ended Sep 25, 2026), up 32.2% from a year earlier and down 7.7% from the prior quarter. For the full fiscal 2026 it was $880.00M, up 5.0% from fiscal 2025. Compound annual growth was +7.5% over 5 years and +7.1% over 10 years. It rose in 5 of the last 10 fiscal years.

FLEX EPSQ2 2027$0.70

Quarter YoY
+34.6%
QoQ
-7.9%
FY YoY
+10.4%
5Y CAGR
+14.0%
10Y CAGR
+11.4%

FLEX diluted EPS was $0.70 in fiscal Q2 2027 (ended Sep 25, 2026), up 34.6% from a year earlier and down 7.9% from the prior quarter. For the full fiscal 2026 it was $2.33, up 10.4% from fiscal 2025. Compound annual growth was +14.0% over 5 years and +11.4% over 10 years.

FLEX free cash flowQ2 2027$260.00M

Quarter YoY
-14.2%
QoQ
+550.0%
FY YoY
-1.4%
10Y CAGR
+5.3%

FLEX free cash flow was $260.00M in fiscal Q2 2027 (ended Sep 25, 2026), down 14.2% from a year earlier and up 550.0% from the prior quarter. For the full fiscal 2026 it was $1.05B, down 1.4% from fiscal 2025. Compound annual growth was +5.3% over 10 years. It rose in 2 of the last 4 fiscal years.

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Income statement

Income statement
Line item
Mar 31, 2026
Mar 31, 2025
Mar 31, 2024
Mar 31, 2023
Mar 31, 2022
Mar 31, 2021
Mar 31, 2020
Mar 31, 2019
Mar 31, 2018
Mar 31, 2017
Revenue$27.91B$25.81B$26.41B$28.50B$24.63B$24.12B$24.21B$26.21B$25.44B$23.86B
Cost of revenue$25.29B$23.58B$24.39B$26.50B$22.84B$22.35B$22.68B$24.59B$23.78B$22.30B
Gross profit$2.57B$2.16B$1.86B$1.98B$1.78B$1.69B$1.34B$1.52B$1.60B$1.52B
Research and development--------$78.20M$65.60M
Selling, general and admin$1.05B$904.00M$922.00M$874.00M$830.00M$817.00M$834.00M$953.00M$1.02B$937.34M
Operating income$1.37B$1.17B$853.00M$1.02B$890.00M$795.00M$415.00M---
Interest expense$215.00M$218.00M$207.00M$230.00M$166.00M-$7.20M-$123.10M$108.00M
Pre-tax income$1.14B$1.02B$666.00M$807.00M$964.00M$714.00M$159.00M$182.00M$520.89M$370.85M
Income tax$263.00M$185.00M-$206.00M$124.00M$92.00M$101.00M$71.00M$89.00M$92.36M$51.28M
Net income$880.00M$838.00M$1.01B$793.00M$936.00M$613.00M$88.00M$93.00M$428.53M$319.56M
EPS, basic$2.37$2.14$2.31$1.75$1.97$1.23$0.17$0.18$0.81$0.59
EPS, diluted$2.33$2.11$2.28$1.72$1.94$1.21$0.17$0.18$0.80$0.59
Diluted shares378.0M398.0M441.0M462.0M483.0M506.0M512.0M530.0M536.6M546.2M

Balance sheet

Balance sheet
Line item
Mar 31, 2026
Mar 31, 2025
Mar 31, 2024
Mar 31, 2023
Mar 31, 2022
Mar 31, 2021
Mar 31, 2020
Mar 31, 2019
Mar 31, 2018
Mar 31, 2017
Cash and equivalents$2.39B$2.29B$2.47B$3.29B$2.96B$2.64B$1.92B$1.70B$1.47B$1.83B
Receivables$4.68B$3.67B$3.03B$3.48B$3.37B$3.96B$2.44B$2.61B$2.52B$2.19B
Inventory$5.84B$5.07B$6.21B$7.39B$6.58B$3.90B$3.79B$3.72B$3.80B$3.40B
Current assets$16.33B$12.84B$12.99B$16.03B$14.34B$11.36B$9.09B$9.10B$9.17B$8.39B
Goodwill$1.37B$1.34B$1.14B$1.14B$1.14B$1.09B$1.06B$1.07B$1.12B$984.87M
Total assets$22.06B$18.38B$18.26B$21.41B$19.32B$15.84B$13.69B$13.50B$13.72B$12.59B
Current liabilities$12.02B$9.85B$8.54B$10.87B$10.71B$7.83B$7.21B$7.60B$7.27B$6.50B
Short-term debt$0$1.21B$0$150.00M$949.00M$268.00M$149.00M$632.61M$43.01M$61.53M
Long-term debt$3.75B$2.48B$3.26B$3.54B$3.25B$3.52B$2.69B$2.42B$2.90B$2.89B
Total debt$3.75B$3.69B$3.26B$3.69B$4.20B$3.78B$2.84B$3.05B$2.94B$2.95B
Total liabilities$16.92B$13.38B$12.93B$15.70B$15.12B$12.40B$10.86B$10.53B$10.70B$9.92B
Shareholders' equity$5.14B$5.00B$5.33B$5.71B$4.13B$3.44B$2.83B$2.97B$3.02B$2.68B

Cash flow

Cash flow
Line item
Mar 31, 2026
Mar 31, 2025
Mar 31, 2024
Mar 31, 2023
Mar 31, 2022
Mar 31, 2021
Mar 31, 2020
Mar 31, 2019
Mar 31, 2018
Mar 31, 2017
Operating cash flow$1.69B$1.50B$1.33B$950.00M$1.02B$144.00M-$1.53B-$2.97B-$3.87B-$3.82B
Capital expenditures$633.00M$438.00M$530.00M$635.00M$443.00M$351.00M$462.00M$726.00M$562.00M$525.11M
Free cash flow$1.05B$1.07B$796.00M$315.00M$581.00M-$207.00M-$2.00B-$3.70B-$4.43B-$4.35B
Investing cash flow-$672.00M-$838.00M-$492.00M-$604.00M-$951.00M-$202.00M$2.28B$3.25B$3.71B$4.27B
Financing cash flow-$924.00M-$821.00M-$1.66B$2.00M$280.00M$743.00M-$508.00M-$30.00M-$187.78M-$242.11M
Share repurchases$944.00M$1.26B$1.30B$337.00M$686.00M$183.00M$260.00M$189.00M$180.05M$349.53M
Stock-based compensation$142.00M$125.00M$152.00M$133.00M$91.00M$79.00M$71.00M$76.00M$81.35M$77.33M
Depreciation and amortization-------$433.41M$434.43M$432.24M

Key ratios

Key ratios
Line item
Mar 31, 2026
Mar 31, 2025
Mar 31, 2024
Mar 31, 2023
Mar 31, 2022
Mar 31, 2021
Mar 31, 2020
Mar 31, 2019
Mar 31, 2018
Mar 31, 2017
Revenue growth, YoY8.1%-2.3%-7.3%15.7%2.1%-0.4%-7.6%3.0%6.6%-2.3%
Net income growth, YoY5.0%-16.7%26.9%-15.3%52.7%596.6%-5.4%-78.3%34.1%-28.0%
EPS growth, YoY10.4%-7.5%32.6%-11.3%60.3%611.8%-5.6%-77.5%35.6%-25.3%
Gross margin9.2%8.4%7.1%6.9%7.2%7.0%5.5%5.8%6.3%6.4%
Operating margin4.9%4.5%3.2%3.6%3.6%3.3%1.7%---
Net margin3.2%3.2%3.8%2.8%3.8%2.5%0.4%0.4%1.7%1.3%
Free cash flow margin3.8%4.1%3.0%1.1%2.4%-0.9%-8.2%-14.1%-17.4%-18.2%
Return on equity17.1%16.8%18.9%13.9%22.7%17.8%3.1%3.1%14.2%11.9%
Return on assets4.0%4.6%5.5%3.7%4.8%3.9%0.6%0.7%3.1%2.5%
Current ratio1.361.301.521.481.341.451.261.201.261.29
Debt to equity0.730.740.610.651.021.101.001.030.971.10

Source: XBRL data Flex Ltd. files with the SEC, latest filing dated Oct 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

FLEX peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
FLEX$30.95B+17.5%$1.04B3.4%$25.78B
APH$33.05B+57.6%$5.93B18.0%$184.17B
TER$5.00B+74.9%$1.37B27.5%$34.07B
VLTO$5.80B+6.4%$1.00B17.3%$28.47B
CLS$18.23B+61.6%$1.25B6.8%$26.06B
JBL$35.95B+20.6%$1.04B2.9%$24.62B
HUBB$6.59B+16.0%$908.90M13.8%$22.69B
LFUS$2.76B+18.7%$37.79M1.4%$9.04B
SANM$12.76B+58.6%$308.13M2.4%$7.22B

FLEX FAQ

9 questions
  • What is FLEX revenue?
    Flex Ltd. (FLEX) reported $30.95B of revenue for the twelve months ended Sep 25, 2026. That is up 17.5% from the year before. Revenue for fiscal 2026 was $27.91B.
  • Is FLEX profitable?
    Yes. Flex Ltd. earned $1.04B in net income for the twelve months ended Sep 25, 2026, a net margin of 3.4%.
  • How much cash and debt does FLEX have?
    Flex Ltd. reported $3.08B in cash and cash equivalents and $5.21B of debt on its most recent balance sheet in SEC filings.
  • How fast is FLEX revenue growing?
    Flex Ltd.'s revenue changed +8.1% in fiscal 2026, to $27.91B. Its compound annual growth rate was +3.0% over 5 years and +1.3% over 10 years.
  • What is FLEX gross margin?
    Flex Ltd.'s gross profit was $2.94B on $30.95B of revenue for the twelve months ended Sep 25, 2026, a gross margin of 9.5%.
  • What is FLEX free cash flow?
    Flex Ltd. generated $783.00M of free cash flow for the twelve months ended Sep 25, 2026, which is operating cash flow of $1.61B less capital expenditures.
  • What is FLEX earnings per share?
    Diluted earnings per share were $2.77 for the twelve months ended Sep 25, 2026, from SEC filings, restated for any stock split those filings show.
  • When did FLEX last report financial results?
    The latest statements here come from Flex Ltd.'s 10-Q filed on Oct 30, 2026, covering the period ended Sep 25, 2026.
  • Where does this FLEX financial data come from?
    Quantisnow builds these statements from the structured XBRL data Flex Ltd. files with the SEC. It is provided for information only and is not investment advice.