Flex (FLEX) FY2022 results: revenue $24.6 billion, up 2.1% on the year
Flex Ltd. (FLEX) reported revenue of $24.6 billion for fiscal 2022, the year ended 31 March 2022, up 2.1% on the year before. Net income was $936 million, up 52.7%, and diluted earnings per share $1.94. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2022.
Revenue
$24.6 billion
+2.1% on the year
FY2015FY2022
Operating margin
3.6%
3.3% a year earlier
FY2015FY2022
Net income
$936 million
+52.7% on the year
FY2015FY2022
Diluted EPS
$1.94
+60.3% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,024
144
-1,533
+611.1%
Capital expenditure
443
351
462
+26.2%
Free cash flow
581
-207
-1,995
Free cash flow margin
2.4%
-0.9%
-8.2%
Cash from investing
-951
-202
2,279
Cash from financing
280
743
-508
-62.3%
Depreciation and amortisation
469
484
487
-3.1%
Share-based compensation
91.0
79.0
71.0
+15.2%
Buybacks
686
183
260
+274.9%
Diluted shares, weighted
483m
506m
512m
-4.5%
Shares outstanding at period end
461m
493m
497m
-6.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,129
3,436
2,831
+20.2%
Non-controlling interest
0.0
n/a
n/a
Redeemable equity
78.0
0.0
0.0
Debt
4,197
3,804
2,852
+10.3%
Operating lease liabilities
551
562
529
-2.0%
Other liabilities
10,370
8,034
7,478
+29.1%
Total liabilities and equity
19,325
15,836
13,690
+22.0%
Fixed assets
2,125
2,097
2,216
+1.3%
Goodwill
1,138
1,090
1,065
+4.4%
Intangible assets
411
213
262
+93.0%
Cash and equivalents
2,964
2,637
1,923
+12.4%
Receivables
3,371
3,959
2,436
-14.9%
Inventory
6,580
3,895
3,785
+68.9%
Other assets
2,736
1,945
2,003
+40.7%
Total assets
19,325
15,836
13,690
+22.0%
10-K for the year ended 31 March 2022, filed 20 May 2022: the filing.