Flex (FLEX) FY2015 results: revenue $26.1 billion, up 0.2% on the year
Flex Ltd. (FLEX) reported revenue of $26.1 billion for fiscal 2015, the year ended 31 March 2015, up 0.2% on the year before. Net income was $601 million, up 64.5%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 21 May 2015.
Revenue
$26.1 billion
+0.2% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$601 million
+64.5% on the year
FY2008FY2015
Diluted EPS
$1.02
+72.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
26,148
26,109
23,569
+0.2%
Cost of revenue
24,603
24,610
22,187
-0.0%
Gross profit
1,545
1,440
1,166
+7.3%
Gross margin
5.9%
5.5%
4.9%
Research and development
26.3
30.0
n/a
-12.3%
Selling, general and administrative
844
875
805
-3.5%
Interest expense
76.4
79.9
68.9
-4.4%
Pre-tax income
671
400
329
+67.5%
Income tax
69.9
34.9
26.3
+100.4%
Effective tax rate
10.4%
8.7%
8.0%
Net income
601
365
277
+64.5%
Net margin
2.3%
1.4%
1.2%
Diluted EPS
$1.02
$0.59
$0.41
+72.9%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
794
1,216
1,115
-34.7%
Capital expenditure
347
610
489
-43.0%
Free cash flow
447
607
626
-26.4%
Free cash flow margin
1.7%
2.3%
2.7%
Cash from investing
-242
-784
-697
Cash from financing
-516
-411
-340
Depreciation and amortisation
540
465
566
+16.3%
Share-based compensation
50.3
40.4
34.5
+24.3%
Buybacks
416
475
322
-12.5%
Diluted shares, weighted
592m
623m
675m
-5.1%
Shares outstanding at period end
563m
591m
639m
-4.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,361
2,163
2,247
+9.1%
Non-controlling interest
35.4
38.6
n/a
-8.3%
Debt
2,084
2,103
2,068
-0.9%
Other liabilities
7,186
8,196
6,277
-12.3%
Total liabilities and equity
11,666
12,500
10,592
-6.7%
Fixed assets
2,092
2,289
2,175
-8.6%
Goodwill
334
293
262
+14.0%
Intangible assets
81.5
84.5
81.5
-3.5%
Cash and equivalents
1,628
1,594
1,587
+2.2%
Receivables
2,338
2,698
2,112
-13.4%
Inventory
3,489
3,599
2,722
-3.1%
Other assets
1,704
1,944
1,652
-12.3%
Total assets
11,666
12,500
10,592
-6.7%
10-K for the year ended 31 March 2015, filed 21 May 2015: the filing.