Flex Ltd is the developed, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage products that improve the world.
It is a $44.3B technology company. Revenue grew 12.2% over the last year, it keeps 3¢ of every dollar of sales as profit, and its net debt equals ~2.5 years of free cash flow. It trades at 45.5× earnings — near the highest of its own history.
- Website
- flex.com
- Location
- Austin, TX
- Employees
- 149 686
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality; Valuation, Profitability and Moat lag behind.
Valuation30
- P/E vs own history95th pct · 0/25
- FCF yield1.9% · 5/25
- P/S1.5x · 25/25
- EV/EBITDA57.6x · 0/25
Growth51
- Revenue CAGR1.8% · 6/25
- Net income CAGR-1.5% · 0/25
- EPS CAGR ~5Y14.0% · 20/25
- Fwd implied growth130.8% · 25/25
Profitability35
- ROIC12.2% · 12/25
- ROE9.5% · 12/25
- Net margin3.3% · 6/25
- Operating margin5.0% · 5/25
Health68
- Altman Z2.11 · 18/25
- Current ratio1.36 · 12/25
- Interest coverage6.4x · 18/25
- Net cash / debtD/A 9% · 20/25
Quality87
- Piotroski F6/9 · 15/25
- Beneish M-2.78 · 25/25
- FCF conversion85% · 22/25
- Margin stabilityσ 1.4% · 25/25
Moat28
- ROIC >12% years5/11 yrs · 6/25
- Median gross margin7.0% · 0/25
- FCF-positive years8/11 yrs · 10/25
- Worst-year net marginworst 0.4% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2024FinancialBest year on record$1.01B net income
- FY2022FinancialPositive free cash flow every year since5-year streak
- FY2016FinancialProfitable every year on record11 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$24.4B in first reported year
- 2015AcquisitionFlex, acquired Wink smart home platform to bring the Intelligence of Things "Home"
- 2014MilestoneElementum was spun off from Flextronics as its own separate entity
- 2007AcquisitionThe acquisition of Solectron was completed by end of October 2007, earlier than anticipated
- 2006AcquisitionFlextronics took over a part of the production of Lego, but in 2009 Lego decided to end relations with…
- 1993MilestoneThe company received venture capital funding through Sequoia Capital
- 1990MilestoneThe company was renamed Flextronics International, Ltd. and moved to Singapore
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Revenue growing 12.2% year over year
- Interest covered 6.4× by operating earnings
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+12.2% YoY
- Profitable — makes more than it spends$973M TTM
- Profit growing — earnings are higher than last year+10.7% YoY
- Generates cash — cash left after running and investing$826M TTM
- Debt under control — could handle its obligations~2.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$44.3B market cap
- Not printing shares — share count not ballooning — you keep your slice-25.3% shares over ~5y
- Proven track record — years of profitability behind it11/11 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.1 — grey
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 45.5
Peer comparisonFlex Ltd. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| FLEX this company | $44.3B | 45.5 | +12.2% | 3.3% | Solid |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: FLEX vs NVDA · FLEX vs AAPL · FLEX vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/FLEX
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of FLEX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $120.00 · market cap $44.3B.