Flex LtdFlex Ltd
Flex Ltd

Flex Ltd

FLEX
Information Technology·Electronic Equipment, Instruments & Components

Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Integrated Technology Solutions (ITS), Regulated Manufacturing Solutions (RMS) and Cloud and Power Infrastructure (CPI). The Integrated Technology Solutions segment consists of Communications, including high speed networking, enterprise, and satellite communications systems Lifestyle, including premium products across commercial, home and personal product categories. The Regulated Manufacturing Solutions segment consists of Industrial, including mission-critical automation, energy, and industrial infrastructure, Automotive, including compute and power electronics platforms, and integrated systems, Healthcare, including regulated manufacturing for medical devices, drug delivery and equipment. The Cloud and Power Infrastructure segment consists of Cloud and Cooling, including integrated compute systems supporting power-dense digital infrastructure deployments, and advanced liquid cooling solutions supporting higher-density, power-intensive rack architectures, Power, utility and facility-level, including electrical infrastructure enabling reliable, scalable power delivery and high-density rack- and board-level power systems supporting power-intensive compute workloads. The company was founded by Joe McKenzie and Barbara-Ann McKenzie in 1969 and is headquartered in Austin, TX.

Singapore
Market cap
$42.4BNo data
Revenue
$27.9B+8.1% YoY
Net income
$880M+5.0% YoY
Free cash flow
$1.1B−1.4% YoY

Market

Listed stock
Tokenized stocks
FLEXPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$27.9B+8.1% YoY
Operating income
$1.4B+17.0% YoY
Net income
$880M+5.0% YoY
Free cash flow
$1.1B−1.4% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2022 $26B, 2023 $30.3B, 2024 $26.4B, 2025 $25.8B, 2026 $27.9B. Operating income: 2022 $972M, 2023 $1.2B, 2024 $853M, 2025 $1.2B, 2026 $1.4B. Net income: 2022 $936M, 2023 $793M, 2024 $1B, 2025 $838M, 2026 $880M. Free cash flow: 2022 $581M, 2023 $315M, 2024 $796M, 2025 $1.1B, 2026 $1.1B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
8.1%+1042 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2022-03-31 $972M, 2023-03-31 $1.2B, 2024-03-31 $853M, 2025-03-31 $1.2B, 2026-03-31 $1.4B. Net income: 2022-03-31 $936M, 2023-03-31 $793M, 2024-03-31 $1B, 2025-03-31 $838M, 2026-03-31 $880M. Free cash flow: 2022-03-31 $581M, 2023-03-31 $315M, 2024-03-31 $796M, 2025-03-31 $1.1B, 2026-03-31 $1.1B

Growth heatmap

2023202420252026CAGR
Revenue
+16.5%
-13.0%
-2.3%
+8.1%
+1.8%
Gross profit
+17.2%
-17.7%
+15.8%
+18.9%
+7.4%
Operating income
+21.8%
-28.0%
+37.0%
+17.0%
+8.9%
Free cash flow
-45.8%
+152.7%
+34.0%
-1.4%
+16.0%

Earnings quality

Operating cash flow
$1.7B+12.0% YoY
Net income
$880M+5.0% YoY
Free cash flow
$1.1B−1.4% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2026-03-31 191%, 2025-03-31 180%, 2024-03-31 132%, 2023-03-31 120%, 2022-03-31 109%. Free cash flow: 2026-03-31 120%, 2025-03-31 127%, 2024-03-31 79%, 2023-03-31 40%, 2022-03-31 62%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data