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FLEX LTD. FLEX

Nasdaq · stock · Printed Circuit Boards · website · IPO 1994-03-22 · LEI

FLEX LTD. statistics & valuation

Market cap$53.7B
P / E61.1×
P / S1.9×
P / B10.4×
P / FCF51.1×
Net margin3.2%
Return on equity17.1%
FCF margin3.8%
Net debt$1.4B
Net debt / EBITDA0.7×
Enterprise value USD$55.1B
EV / EBITDA30.2×
Earnings yield EBIT/EV2.5%
Return on capital13.6%
Graham number -78.6%$26.71

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($26.71); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
1.30% 1.70% 0.40% 0.40% 2.50% 3.80% 2.80% 3.80% 3.20% 3.20% 2017201820192020202120222023202420252026
Gross margin (%)
6.40% 6.30% 5.80% 5.50% 7.00% 7.20% 6.90% 7.10% 8.40% 9.20% 2017201820192020202120222023202420252026
Operating margin (%)
1.70% 3.30% 3.60% 3.60% 3.20% 4.50% 4.90% 2017201820192020202120222023202420252026
Return on equity (%)
11.90% 14.20% 3.10% 3.10% 17.80% 22.70% 13.90% 18.90% 16.80% 17.10% 2017201820192020202120222023202420252026
Shares outstanding
546.2M 536.6M 530.0M 512.0M 506.0M 483.0M 462.0M 441.0M 398.0M 378.0M 2017201820192020202120222023202420252026
Net debt ($)
$1.14B $1.48B $1.37B $928.6M $1.17B $1.23B $530.0M $787.0M $1.40B $1.36B 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
2.50% 3.10% 0.70% 0.60% 3.90% 4.80% 3.70% 5.50% 4.60% 4.00% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-18.20% -17.40% -14.10% -8.20% -0.90% 2.40% 1.10% 3.00% 4.10% 3.80% 2017201820192020202120222023202420252026
Debt / equity (×)
1.11× 0.98× 1.03× 1.01× 1.11× 1.02× 0.65× 0.61× 0.74× 0.73× 2017201820192020202120222023202420252026
EPS ($)
$0.59 $0.80 $0.18 $0.17 $1.21 $1.94 $1.72 $2.28 $2.11 $2.33 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

FLEX LTD. trades at about 53.4× earnings — above its 10-year norm (10-year range 6.4×–46.2×, median 16.3×).

6.4× 53.4×

Shaded band = 10-year range (6.4×–46.2×); dot = today's 53.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin9.2%8.4%7.1%6.9%7.2%7.0%5.5%5.8%6.3%6.4%
Operating margin4.9%4.5%3.2%3.6%3.6%3.3%1.7%———
Net margin3.2%3.2%3.8%2.8%3.8%2.5%0.4%0.4%1.7%1.3%
FCF margin3.8%4.1%3.0%1.1%2.4%-0.9%-8.2%-14.1%-17.4%-18.2%
Return on assets4.0%4.6%5.5%3.7%4.8%3.9%0.6%0.7%3.1%2.5%
Return on equity17.1%16.8%18.9%13.9%22.7%17.8%3.1%3.1%14.2%11.9%
Debt / equity0.73×0.74×0.61×0.65×1.02×1.11×1.01×1.03×0.98×1.11×
Current ratio1.361.301.521.481.341.451.261.201.261.29

Computed from company filings · US · as of 2026-03-31. Facts plus Stocktoria's own computed scores — not investment advice.