Flex Ltd. (FLEX)

Name: Flex Ltd. (FLEX): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Flex Ltd. (FLEX) reported revenue of $7.9 billion for Q1 FY2027, the quarter ended 26 June 2026, up 20.6% on the same quarter a year earlier. Net income was $285 million, up 48.4% on the year, and diluted earnings per share $0.76. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$7.9 billionup 20.6%

Net income$285 millionup 48.4%

Diluted EPS$0.76

QuarterQ1 FY2027ended 26 June 2026

Ratios

From the filings

ROE17.7%

ROCE13.5%

Operating margin5.0%

Net margin3.3%

FCF margin2.8%

Interest cover6.47

Debt to equity0.95

Cash conversion1.61

Share count, 1 year-1.8%

Sales CAGR, 3 years-0.7%

Profit CAGR, 3 years3.5%

EPS, TTM$2.59

At the close of 21 September 2026

Price$111.61

Market cap$41.2 billion

Stock P/E43.09

Price to book7.50

EV / EBITDA22.05

Dividend yieldn/a

Market cap / sales1.41

52-week high$162.07

52-week low$54.51

Price, 1 year90.3%

Price CAGR, 3 years85.1%

Price CAGR, 5 years61.7%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Flex Ltd. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on FLEX

Filings	45 in twelve months: 13 current reports (8-K), about 5 other events; 4 material agreement; 4 results of operations; 3 regulation fd disclosure; 2 officer or director change
Planned insider sales	40 Form 144 notices in twelve months, $120.5 million; latest 18 August 2026
Options tape	put/call 0.51 by open interest on 23 September 2026; the straddle prices a 12.2% move to 16 October 2026
Holders	9 of the followed funds hold it; largest FMR LLC; 18 Schedule 13D or 13G filings in twelve months
Insider trading	156 sales and 0 purchases on Form 4 in twelve months
Congress	10 House trades disclosed in six months
Short interest	9.9 million shares short, 3.61 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	7,471	7,103	6,169	6,314	6,545	6,556	6,398	6,575	6,804	7,058	7,477	7,928
Cost of revenue	6,803	6,400	4,460	5,827	5,998	5,952	5,807	5,987	6,181	6,373	6,747	7,177
Gross profit	665	642	437	471	531	594	563	572	614	679	702	747
Gross margin	9%	9%	7%	7%	8%	9%	9%	9%	9%	10%	9%	9%
SG&A	272	264	116	213	216	241	234	233	260	270	289	334
Operating income	376	348	159	233	297	334	305	311	296	389	372	392
Operating margin	5%	5%	3%	4%	5%	5%	5%	5%	4%	6%	5%	5%
Interest expense	49.0	50.0	52.0	56.0	53.0	57.0	52.0	51.0	52.0	58.0	54.0	60.0
Pre-tax income	325	307	-205	192	264	288	279	246	262	n/a	n/a	n/a
Tax rate	-25%	24%	n/a	28%	19%	9%	20%	22%	24%	n/a	n/a	n/a
Net income	228	197	395	139	214	263	222	192	199	239	250	285
Net margin	3%	3%	6%	2%	3%	4%	3%	3%	3%	3%	3%	4%
Diluted EPS	$0.51	$0.45	$0.93	$0.34	$0.54	$0.67	$0.57	$0.50	$0.52	$0.64	$0.67	$0.76
Operating cash flow	357	284	679	340	319	413	433	399	453	420	413	276
Capital expenditure	152	130	81.0	111	103	112	112	133	150	148	202	236
Free cash flow	205	154	598	229	216	301	321	266	303	272	211	40.0
Buybacks	309	275	517	457	300	201	299	247	297	200	200	0.0
Shares outstanding	438m	427m	408m	399m	390m	384m	378m	376m	371m	368m	366m	369m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	FY2026	TTM
Revenue	26,148	24,419	23,863	25,441	26,211	24,210	24,124	24,633	28,502	26,415	25,813	27,914	29,267
Cost of revenue	24,603	22,811	22,303	23,778	24,594	22,681	22,349	22,838	26,503	24,395	23,584	25,288	26,478
Gross profit	1,545	1,608	1,521	1,596	1,518	1,338	1,687	1,780	1,976	1,865	2,159	2,567	2,742
Gross margin	5.9%	6.6%	6.4%	6.3%	5.8%	5.5%	7.0%	7.2%	6.9%	7.1%	8.4%	9.2%	9.4%
Research and development	26.3	61.0	65.6	78.2	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Selling, general and administrative	844	955	937	1,019	953	834	817	830	874	922	904	1,052	1,153
Operating income	n/a	n/a	n/a	n/a	n/a	415	795	890	1,017	853	1,169	1,368	1,449
Operating margin	n/a	n/a	n/a	n/a	n/a	1.7%	3.3%	3.6%	3.6%	3.2%	4.5%	4.9%	5.0%
Interest expense	76.4	98.0	108	123	146	7.2	150	166	230	207	218	215	224
Pre-tax income	671	455	371	521	182	159	714	964	807	666	1,023	1,143	n/a
Income tax	69.9	10.6	51.3	92.4	89.0	70.9	101	92.0	124	-206	185	263	301
Effective tax rate	10.4%	2.3%	13.8%	17.7%	48.9%	44.6%	14.1%	9.5%	15.4%	-30.9%	18.1%	23.0%	n/a
Net income	601	444	320	429	93.0	88.0	613	936	793	1,006	838	880	973
Net margin	2.3%	1.8%	1.3%	1.7%	0.4%	0.4%	2.5%	3.8%	2.8%	3.8%	3.2%	3.2%	3.3%
Diluted EPS	$1.02	$0.79	$0.59	$0.80	$0.18	$0.17	$1.21	$1.94	$1.72	$2.28	$2.11	$2.33	$2.59
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	FY2026	TTM
Operating cash flow	794	1,136	-3,822	-3,866	-2,971	-1,533	144	1,024	950	1,326	1,505	1,685	1,562
Capital expenditure	347	511	525	562	726	462	351	443	635	530	438	633	736
Free cash flow	447	626	-4,347	-4,428	-3,697	-1,995	-207	581	315	796	1,067	1,052	826
Free cash flow margin	1.7%	2.6%	-18.2%	-17.4%	-14.1%	-8.2%	-0.9%	2.4%	1.1%	3.0%	4.1%	3.8%	2.8%
Depreciation and amortisation	540	515	432	434	433	487	484	477	496	501	509	525	529
Share-based compensation	50.3	77.6	77.3	81.3	76.0	71.0	79.0	91.0	133	152	125	142	159
Buybacks	416	420	350	180	189	260	183	686	337	1,298	1,257	944	697
Diluted shares, weighted	592m	565m	546m	537m	530m	512m	506m	483m	462m	441m	398m	378m	374m
Shares outstanding at period end	563m	545m	531m	528m	517m	497m	493m	461m	450m	408m	378m	366m	369m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2015 †	FY2016 †	FY2017 †	FY2018 †	FY2019 †	FY2020 †	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	FY2026	TTM
Total assets	11,666	12,385	12,593	13,716	13,499	13,690	15,836	19,325	21,395	18,257	18,381	22,060	25,198
Cash and equivalents	1,628	1,608	1,831	1,472	1,697	1,923	2,637	2,964	3,164	2,474	2,289	2,389	2,840
Receivables	2,338	2,045	2,193	2,518	2,613	2,436	3,959	3,371	3,480	3,033	3,671	4,679	5,036
Inventory	3,489	3,492	3,396	3,800	3,723	3,785	3,895	6,580	7,388	6,205	5,071	5,845	6,453
Goodwill	334	942	985	1,121	1,073	1,065	1,090	1,138	1,139	1,135	1,341	1,369	1,831
Long-term debt	2,084	2,792	2,968	2,954	3,065	2,852	3,804	4,197	3,694	3,261	3,692	3,751	5,219
Long-term debt including finance leases	2,502	3,207	3,410	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Borrowings, as the company tags them	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	3,862	3,276	3,706	3,768	5,240
Operating lease liabilities	n/a	n/a	n/a	n/a	0.0	529	562	551	504	490	456	565	711
Shareholders' equity	2,361	2,571	2,645	3,019	2,972	2,831	3,436	4,129	5,351	5,325	5,002	5,144	5,500
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	1.3%	3.0%	-0.7%	12.2%
Profit growth, compounded	7.1%	7.5%	3.5%	9.2%
Return on equity, average	14.1%	18.0%	17.6%	17.1%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Printed Circuit Boards

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
Flex Ltd. FLEX	$41.2 billion	43.09	17.7%	5.0%	12.2%	0.95	n/a
Jabil Inc. JBL	$31.8 billion	38.10	65.2%	4.3%	17.8%	2.55	0.1%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	26 June 2026	31 July 2026	EDGAR
10-K	31 March 2026	20 May 2026	EDGAR
10-Q	31 December 2025	6 February 2026	EDGAR
10-Q	26 September 2025	31 October 2025	EDGAR
10-Q	27 June 2025	25 July 2025	EDGAR
10-K	31 March 2025	21 May 2025	EDGAR
10-Q	31 December 2024	31 January 2025	EDGAR
10-Q	27 September 2024	31 October 2024	EDGAR
10-Q	28 June 2024	26 July 2024	EDGAR
10-K	31 March 2024	17 May 2024	EDGAR

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