Flex Ltd. (FLEX) Stock Analysis
Technology · Electronic Components · NasdaqGS
Flex Ltd. (FLEX) posted $27.91B in revenue for fiscal 2026 (up 8.1% year over year), at a 3.2% net margin, and has compounded revenue about 3.0%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Flex Ltd.
Flex Ltd. has grown revenue from $23.86B to $27.91B over the last 10 fiscal years, compounding about 3% a year. The most recent year was up 8.1%, so growth is actually accelerating.
Net margin sits at 3.2% on a 9.2% gross margin. It carries about $3.75B of total debt.
At today's valuation the market is pricing in roughly 17% annual free-cash-flow growth. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Flex Ltd.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Flex Ltd. revenue & earnings — last 10 fiscal years
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.86B | $25.44B | $26.21B | $24.21B | $24.12B | $24.63B | $30.35B | $26.41B | $25.81B | $27.91B |
| Gross profit | $1.52B | $1.60B | $1.52B | $1.34B | $1.69B | $1.78B | $1.98B | $1.86B | $2.16B | $2.57B |
| Net income | $319.56M | $428.53M | $93.00M | $88.00M | $613.00M | $936.00M | $793.00M | $1.01B | $838.00M | $880.00M |
| Net margin | 1.3% | 1.7% | 0.4% | 0.4% | 2.5% | 3.8% | 2.6% | 3.8% | 3.2% | 3.2% |
Source: Flex Ltd. SEC filings (10-K). 19 years of history available in the interactive view.
Flex Ltd.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 27.5% while revenue rose 8.1% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
What growth is priced into FLEX stock?
At today's market cap of $41.68B, Flex Ltd. is priced for free-cash-flow growth of about 17% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.05B from the FY ending 2026-03-31). For comparison, revenue 3%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 19 years of Flex Ltd. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Flex Ltd. financial history by metric
Compare Flex Ltd. with peers
About Flex Ltd.
Flex Ltd. provides technology innovation, supply chain, and manufacturing solutions to data center, communications, enterprise, consumer, automotive, healthcare, industrial, and power industries in the Americas, Asia, and Europe. The company operates through three segments: Integrated Technology Solutions (ITS), Regulated Manufacturing Solutions (RMS), and Cloud and Power Infrastructure (CPI). The ITS segment offers flexible supply and manufacturing solutions for communications, including high speed networking, enterprise, and satellite communications systems, as well as lifestyle solutions comprising products across commercial, home, and personal product categories. Its RMS segment includes industrial products, such as mission critical automation, energy, and industrial infrastructure; automotive products, including compute and power electronics platforms and integrated systems; and healthcare products comprising regulated manufacturing for medical devices, drug delivery, and equipment. The CPI segment provides cloud and cooling products, such as integrated compute systems supporting power dense digital infrastructure deployments and advanced liquid cooling solutions supporting higher density, power intensive rack architectures; and power products that include utility and facility level electrical infrastructure enabling power delivery and high density rack and board level power systems. 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.
Flex Ltd. — frequently asked questions
What is Flex Ltd.'s revenue?
Flex Ltd. (FLEX) reported revenue of $27.91B for fiscal year 2026, up 8.1% from the prior year, according to its SEC filings.
Is Flex Ltd. profitable?
Yes. FLEX earned net income of $880.00M in fiscal 2026, a net margin of 3.2%.
What is FLEX's P/E ratio?
Flex Ltd. trades at a price-to-earnings ratio of about 43.9 based on the latest data in our nightly-refreshed cache.
How fast is Flex Ltd. growing?
FLEX's revenue grew at roughly 3.0% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Flex Ltd. have?
As of fiscal year 2026, FLEX carried roughly $3.75B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Flex Ltd.'s gross margin?
FLEX's gross margin was 9.2% in fiscal 2026 — gross profit of $2.57B on revenue of $27.91B.
What is Flex Ltd.'s market cap?
Flex Ltd. (FLEX) has a market capitalization of about $41.68B, based on the latest data in our nightly-refreshed cache.
When does Flex Ltd.'s fiscal year end?
FLEX's fiscal year ends in March. Its most recent annual filing covers the fiscal year ending 2026-03-31.
What growth is priced into FLEX stock?
At today's market cap of $41.68B, Flex Ltd. is priced for free-cash-flow growth of about 17% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $1.05B from the FY ending 2026-03-31). For comparison, revenue 3%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Flex Ltd.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.