Flex (FLEX) Q4 FY2026 earnings: revenue $7.5 billion, up 16.9% on the year
Flex Ltd. (FLEX) reported revenue of $7.5 billion for Q4 FY2026, the quarter ended 31 March 2026, up 16.9% on the same quarter a year earlier. Net income was $250 million, up 12.6% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2026.
Revenue
$7.5 billion
+16.9% on the year · +5.9% on the quarter
Q1 FY2025Q4 FY2026
Operating margin
5.0%
4.8% a year earlier
Q1 FY2025Q4 FY2026
Net income
$250 million
+12.6% on the year · +4.6% on the quarter
Q1 FY2025Q4 FY2026
Diluted EPS
$0.67
+17.5% on the year · +4.7% on the quarter
Q1 FY2025Q4 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 8 new.
Fourth-quarter net sales rose 17%: Q4 net sales were $7.5 billion, up 17% from $6.4 billion a year earlier. Full-year net sales were $27.9 billion, up 8% from $25.8 billion.
Q4 adjusted operating margin 6.7%: Q4 adjusted operating margin was 6.7%, against 6.2% a year earlier; GAAP margin was 5.0%, against 4.8%. This is the sixth quarter in a row at 6% or greater.
Full-year adjusted margin 6.3%: Full-year adjusted operating margin was 6.3%, against 5.7% in fiscal 2025; GAAP margin was 4.9%, against 4.5%. The release calls the adjusted figure another record.
$ million except per share. Read moreFourth quarters are the year less the first three 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.
Cash flow
$ million
Q4 FY2026
Q3 FY2026
Q4 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
413
420
433
-1.7%
-4.6%
Capital expenditure
202
148
112
+36.5%
+80.4%
Free cash flow
211
272
321
-22.4%
-34.3%
Free cash flow margin
2.8%
3.9%
5.0%
Cash from investing
-200
-138
-197
Cash from financing
-878
529
-297
Depreciation and amortisation
131
128
129
+2.3%
+1.6%
Share-based compensation
34.0
37.0
32.0
-8.1%
+6.2%
Buybacks
200
200
299
0.0%
-33.1%
Diluted shares, weighted
374m
376m
389m
-0.5%
-3.9%
Shares outstanding at period end
366m
368m
378m
-0.5%
-3.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q4 FY2026
Q3 FY2026
Q4 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
5,144
5,121
5,002
+0.4%
+2.8%
Redeemable equity
n/a
n/a
0.0
Debt
3,751
4,435
3,692
-15.4%
+1.6%
Operating lease liabilities
565
583
456
-3.1%
+23.9%
Other liabilities
12,600
10,681
9,231
+18.0%
+36.5%
Total liabilities and equity
22,060
20,820
18,381
+6.0%
+20.0%
Fixed assets
2,505
2,393
2,330
+4.7%
+7.5%
Goodwill
1,369
1,375
1,341
-0.4%
+2.1%
Intangible assets
283
300
343
-5.7%
-17.5%
Cash and equivalents
2,389
3,057
2,289
-21.9%
+4.4%
Receivables
4,679
3,837
3,671
+21.9%
+27.5%
Inventory
5,845
5,549
5,071
+5.3%
+15.3%
Other assets
4,990
4,309
3,336
+15.8%
+49.6%
Total assets
22,060
20,820
18,381
+6.0%
+20.0%
Questions
What was Flex's revenue in Q4 FY2026?
Flex (FLEX) reported revenue of $7.5 billion for Q4 FY2026, the quarter ended 31 March 2026, up 16.9% on the same quarter a year earlier.
How much did Flex earn in Q4 FY2026?
Net income for Q4 FY2026 was $250 million, up 12.6% on the year, and diluted earnings per share $0.67.
When did Flex report Q4 FY2026 results?
Flex filed its 10-K for the year that ended with the quarter on 20 May 2026; the fourth quarter is the year less the first three.
Each quarter as filed, linked to its filing. Read more* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.
10-K for the period ended 31 March 2026, filed 20 May 2026: the filing.