Cash flow Flex Ltd.

Equities

FLEX

SG9999000020

Electronic Equipment & Parts

Market Closed - Nasdaq Other stock markets 04:00:00 2025-12-12 pm EST			5-day change	1st Jan Change
68.80 ^USD	-3.11%		+10.24%	+79.21%

Dec. 10	Flex Ltd. Presents at Barclays 23rd Annual Global Technology Conference, Dec-10-2025 09:15 AM
Dec. 09	Flex Ltd. Presents at 53rd Annual Nasdaq Investor Conference, Dec-09-2025 01:30 PM

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Published financial data: FLEX LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	24.12B	26.04B	30.35B	26.42B	25.81B
Total Revenues	24.12B	26.04B	30.35B	26.42B	25.81B
Cost of Goods Sold, Total	22.35B	24.09B	28.06B	24.4B	23.58B
Gross Profit	1.78B	1.95B	2.29B	2.02B	2.23B
Selling General & Admin Expenses, Total	817M	892M	995M	922M	904M
Amortization of Goodwill and Intangible Assets - (IS)	62M	68M	82M	70M	70M
Other Operating Expenses, Total	879M	960M	1.08B	992M	974M
Operating Income	896M	987M	1.21B	1.03B	1.26B
Interest Expense, Total	-150M	-153M	-231M	-207M	-218M
Interest And Investment Income	14M	14M	30M	56M	61M
Net Interest Expenses	-136M	-139M	-201M	-151M	-157M
Income (Loss) On Equity Invest.	35M	44M	-4M	8M	-3M
Currency Exchange Gains (Loss)	21M	32M	7M	-24M	-10M
Other Non Operating Income (Expenses)	-12M	-28.3M	-12M	-20M	5M
EBT, Excl. Unusual Items	804M	896M	1B	841M	1.09B
Restructuring Charges	-101M	-15M	-27M	-175M	-86M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	11M	15M	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Legal Settlements	-	149M	-	-	-
Other Unusual Items	-	-	-	-	19M
EBT, Incl. Unusual Items	714M	1.04B	974M	666M	1.02B
Income Tax Expense	101M	105M	-59M	-206M	185M
Earnings From Continuing Operations	613M	940M	1.03B	872M	838M
Earnings Of Discontinued Operations	-	-	-	373M	-
Net Income to Company	613M	940M	1.03B	1.24B	838M
Minority Interest	-	-4M	-240M	-239M	-
Net Income - (IS)	613M	936M	793M	1.01B	838M
Net Income to Common Incl Extra Items	613M	936M	793M	1.01B	838M
Net Income to Common Excl. Extra Items	613M	936M	793M	633M	838M
Per Share Items
Net EPS - Basic	1.23	1.97	1.75	2.31	2.14
Basic EPS - Continuing Operations	1.23	1.97	1.75	1.46	2.14
Basic Weighted Average Shares Outstanding	499M	476M	454M	435M	391M
Net EPS - Diluted	1.21	1.94	1.72	2.28	2.11
Diluted EPS - Continuing Operations	1.21	1.94	1.72	1.43	2.11
Diluted Weighted Average Shares Outstanding	506M	483M	462M	441M	398M
Normalized Basic EPS	1.01	1.17	0.85	0.66	1.74
Normalized Diluted EPS	0.99	1.15	0.83	0.65	1.71
Supplemental Items
EBITDA	1.38B	1.46B	1.71B	1.55B	1.78B
EBITA	958M	1.05B	1.3B	1.12B	1.34B
EBIT	896M	987M	1.21B	1.03B	1.26B
EBITDAR	1.56B	1.64B	1.9B	1.74B	1.98B
Effective Tax Rate - (Ratio)	14.15	10.05	-6.06	-30.93	18.08
Current Domestic Taxes	1M	3M	6M	3M	2M
Current Foreign Taxes	105M	146M	136M	161M	128M
Total Current Taxes	106M	149M	142M	164M	130M
Deferred Domestic Taxes	1M	-	1M	-1M	3M
Deferred Foreign Taxes	-6M	-44M	-202M	-369M	52M
Total Deferred Taxes	-5M	-44M	-201M	-370M	55M
Normalized Net Income	502M	556M	386M	287M	681M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	180M	180M	185M	188M	194M
Imputed Operating Lease Interest Expense	54.16M	47.17M	73.09M	75.84M	82.82M
Imputed Operating Lease Depreciation	126M	133M	112M	112M	111M
Stock-Based Comp., COGS (Total)	20M	24M	38M	28M	32M
Stock-Based Comp., SG&A Exp. (Total)	59M	67M	95M	85M	93M
Stock-Based Comp., Other (Total)	-	-	-	39M	-
Total Stock-Based Compensation	79M	91M	133M	152M	125M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.64B	2.96B	3.29B	2.47B	2.29B
Total Cash And Short Term Investments	2.64B	2.96B	3.29B	2.47B	2.29B
Accounts Receivable, Total	4.24B	3.89B	4.28B	3.28B	4.29B
Total Receivables	4.24B	3.89B	4.28B	3.28B	4.29B
Inventory	3.9B	6.58B	7.53B	6.2B	5.07B
Other Current Assets, Total	590M	903M	917M	1.03B	1.19B
Total Current Assets	11.36B	14.34B	16.02B	12.99B	12.84B
Gross Property Plant And Equipment	6.48B	6.74B	7.17B	7.31B	7.51B
Accumulated Depreciation	-3.75B	-3.98B	-4.22B	-4.44B	-4.62B
Net Property Plant And Equipment	2.74B	2.76B	2.96B	2.87B	2.89B
Long-term Investments	231M	131M	115M	123M	119M
Goodwill	1.09B	1.34B	1.34B	1.14B	1.34B
Other Intangibles, Total	213M	411M	316M	245M	343M
Deferred Tax Assets Long-Term	165M	177M	412M	644M	577M
Other Long-Term Assets, Total	35.2M	165M	231M	248M	268M
Total Assets	15.84B	19.32B	21.4B	18.26B	18.38B
Liabilities
Accounts Payable, Total	5.25B	6.25B	5.93B	4.47B	5.15B
Accrued Expenses, Total	473M	470M	522M	488M	560M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	268M	949M	150M	-	1.21B
Current Portion of Leases	138M	134M	127M	137M	135M
Unearned Revenue Current, Total	376M	616M	795M	449M	347M
Other Current Liabilities	1.33B	2.29B	3.33B	3B	2.45B
Total Current Liabilities	7.83B	10.71B	10.86B	8.54B	9.85B
Long-Term Debt	3.52B	3.25B	3.69B	3.26B	2.48B
Long-Term Leases	566M	553M	507M	490M	456M
Deferred Tax Liability Non Current	-	-	77M	178M	-
Other Non Current Liabilities	485M	606M	559M	464M	590M
Total Liabilities	12.4B	15.12B	15.69B	12.93B	13.38B
Common Stock, Total	6.23B	6.05B	6.49B	5.07B	4.14B
Retained Earnings	-2.29B	-1.35B	-560M	446M	1.28B
Treasury Stock	-388M	-388M	-388M	-	-200M
Comprehensive Income and Other	-119M	-182M	-194M	-195M	-224M
Total Common Equity	3.44B	4.13B	5.35B	5.32B	5B
Minority Interest	-	78M	355M	-	-
Total Equity	3.44B	4.21B	5.71B	5.32B	5B
Total Liabilities And Equity	15.84B	19.32B	21.4B	18.26B	18.38B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	491M	458M	444M	402M	373M
ECS Total Common Shares Outstanding	493M	461M	450M	408M	378M
Book Value / Share	6.98	8.97	11.89	13.05	13.24
Tangible Book Value	2.13B	2.38B	3.69B	3.94B	3.32B
Tangible Book Value Per Share	4.33	5.16	8.2	9.67	8.78
Total Debt	4.49B	4.88B	4.48B	3.89B	4.28B
Net Debt	1.85B	1.92B	1.18B	1.41B	1.99B
Debt Equivalent Oper. Leases	1.44B	1.44B	1.48B	1.5B	1.55B
Minority Interest, Total (Incl. Fin. Div)	-	78M	355M	-	-
Equity Method Investments, Total	128M	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	2.83B	5.29B	6.14B	5.04B	4.09B
Inventories - Work In Process, Total	459M	602M	709M	623M	485M
Inventories - Finished Goods, Total	605M	688M	681M	537M	494M
Land - (BS)	113M	113M	124M	123M	126M
Buildings, Total	1.1B	1.12B	1.16B	1.21B	1.34B
Machinery, Total	3.87B	4.04B	4.29B	4.51B	4.54B
Full Time Employees	167K	173K	172K	148K	148K
Accumulated Allowance for Doubtful Accounts (Supple)	61M	96M	8M	12M	7M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	613M	936M	793M	1.01B	838M
Depreciation & Amortization - CF	422M	409M	414M	431M	439M
Amortization of Goodwill and Intangible Assets - (CF)	61.8M	67.9M	87M	92M	90M
Depreciation & Amortization, Total	484M	477M	501M	523M	529M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	85.2M	0	-	14M	10M
Stock-Based Compensation (CF)	79M	91M	133M	152M	125M
Provision and Write-off of Bad Debts	5M	-3M	3M	9M	-
Other Operating Activities, Total	-7M	39.1M	135M	-127M	168M
Change In Accounts Receivable	-1.51B	398M	-415M	339M	-966M
Change In Inventories	-96M	-2.66B	-974M	1.1B	1.18B
Change In Accounts Payable	103M	969M	-341M	-986M	630M
Change in Other Net Operating Assets	386M	772M	1.12B	-709M	-1B
Cash from Operations	144M	1.02B	950M	1.33B	1.5B
Capital Expenditure	-351M	-443M	-635M	-530M	-438M
Sale of Property, Plant, and Equipment	85M	11M	20M	25M	15M
Cash Acquisitions	-	-539M	2M	-	-405M
Divestitures	-3M	9M	2M	12M	-21M
Other Investing Activities, Total	67M	11M	7M	1M	11M
Cash from Investing	-202M	-951M	-604M	-492M	-838M
Long-Term Debt Issued, Total	2.06B	759M	718M	2M	499M
Total Debt Issued	2.06B	759M	718M	2M	499M
Long-Term Debt Repaid, Total	-1.14B	-284M	-1.02B	-409M	-58M
Total Debt Repaid	-1.14B	-284M	-1.02B	-409M	-58M
Issuance of Common Stock	-	-	694M	552M	-
Repurchase of Common Stock	-183M	-686M	-337M	-1.3B	-1.26B
Other Financing Activities, Total	3M	491M	-49M	-503M	-5M
Cash from Financing	743M	280M	2M	-1.66B	-821M
Foreign Exchange Rate Adjustments	29M	-26M	-18M	2M	-31M
Net Change in Cash	714M	327M	330M	-820M	-185M
Supplemental Items
Cash Interest Paid	-	-	-	-	214M
Cash Income Tax Paid (Refund)	105M	122M	124M	243M	184M
Levered Free Cash Flow	-404M	188M	206M	818M	933M
Unlevered Free Cash Flow	-311M	284M	350M	948M	1.07B
Change In Net Working Capital	1.08B	458M	406M	-160M	-69M
Net Debt Issued / Repaid	923M	475M	-306M	-407M	441M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.79	3.51	3.72	3.24	4.28
Return on Total Capital	7.87	7.26	7.86	6.68	8.48
Return On Equity %	19.56	24.6	20.84	15.81	16.23
Return on Common Equity	19.56	24.75	16.73	11.86	16.23
Margin Analysis
Gross Profit Margin %	7.36	7.48	7.54	7.65	8.64
SG&A Margin	3.39	3.43	3.28	3.49	3.5
EBITDA Margin %	5.72	5.62	5.64	5.87	6.91
EBITA Margin %	3.97	4.05	4.28	4.24	5.21
EBIT Margin %	3.71	3.79	3.99	3.89	4.86
Income From Continuing Operations Margin %	2.54	3.61	3.4	3.3	3.25
Net Income Margin %	2.54	3.59	2.61	3.81	3.25
Net Avail. For Common Margin %	2.54	3.59	2.61	2.4	3.25
Normalized Net Income Margin	2.08	2.13	1.27	1.08	2.64
Levered Free Cash Flow Margin	-1.68	0.72	0.68	3.1	3.61
Unlevered Free Cash Flow Margin	-1.29	1.09	1.15	3.59	4.14
Asset Turnover
Asset Turnover	1.63	1.48	1.49	1.33	1.41
Fixed Assets Turnover	8.68	9.47	10.61	9.08	8.96
Receivables Turnover (Average Receivables)	6.93	6.41	7.43	7.54	6.82
Inventory Turnover (Average Inventory)	5.82	4.6	3.98	3.59	4.18
Short Term Liquidity
Current Ratio	1.45	1.34	1.48	1.52	1.3
Quick Ratio	0.88	0.64	0.7	0.67	0.67
Operating Cash Flow to Current Liabilities	0.02	0.1	0.09	0.16	0.15
Days Sales Outstanding (Average Receivables)	52.65	56.98	49.13	48.53	53.51
Days Outstanding Inventory (Average Inventory)	62.71	79.34	91.78	101.97	87.26
Average Days Payable Outstanding	84.14	78.38	76.65	80.35	78.16
Cash Conversion Cycle (Average Days)	31.22	57.95	64.26	70.15	62.61
Long Term Solvency
Total Debt/Equity	130.58	116.1	78.43	73.01	85.63
Total Debt / Total Capital	56.63	53.73	43.95	42.2	46.13
LT Debt/Equity	118.77	90.35	73.57	70.44	58.76
Long-Term Debt / Total Capital	51.51	41.81	41.23	40.71	31.65
Total Liabilities / Total Assets	78.3	78.23	73.33	70.83	72.79
EBIT / Interest Expense	5.97	6.45	5.24	4.97	5.76
EBITDA / Interest Expense	10.4	10.75	8.21	8.4	9.07
(EBITDA - Capex) / Interest Expense	8.06	7.85	5.46	5.84	7.06
Total Debt / EBITDA	2.88	2.97	2.36	2.24	2.17
Net Debt / EBITDA	1.19	1.17	0.62	0.81	1.01
Total Debt / (EBITDA - Capex)	3.71	4.07	3.55	3.22	2.78
Net Debt / (EBITDA - Capex)	1.53	1.6	0.94	1.17	1.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.36	7.95	16.53	-7.32	-2.28
Gross Profit, 1 Yr. Growth %	12.27	9.69	17.51	1.05	10.35
EBITDA, 1 Yr. Growth %	18.02	6.1	17.03	0.39	15.02
EBITA, 1 Yr. Growth %	28.2	10.14	23.16	-0.97	20.09
EBIT, 1 Yr. Growth %	31.19	10.16	22.7	-1.53	22.08
Earnings From Cont. Operations, 1 Yr. Growth %	596.59	53.34	9.89	27.67	-3.9
Net Income, 1 Yr. Growth %	596.59	52.69	-15.28	26.86	-16.7
Normalized Net Income, 1 Yr. Growth %	51.07	10.61	-41.61	1.91	137.68
Diluted EPS Before Extra, 1 Yr. Growth %	611.76	60.33	-11.34	49.02	47.12
Accounts Receivable, 1 Yr. Growth %	56.03	-8.28	10.03	-11.85	30.62
Inventory, 1 Yr. Growth %	2.91	68.93	14.44	-16.01	-18.28
Net Property, Plant and Equip., 1 Yr. Growth %	-2.91	0.84	7.06	-2.61	0.77
Total Assets, 1 Yr. Growth %	15.68	22.03	10.71	-14.71	0.68
Tangible Book Value, 1 Yr. Growth %	41.82	11.39	55.39	1.23	-15.89
Common Equity, 1 Yr. Growth %	21.37	20.17	29.6	-0.49	-6.07
Cash From Operations, 1 Yr. Growth %	-109.39	611.11	-7.23	39.58	13.5
Capital Expenditures, 1 Yr. Growth %	-24.03	26.21	43.34	-16.54	-17.36
Levered Free Cash Flow, 1 Yr. Growth %	-161.09	-147.75	13.15	-3.34K	13.92
Unlevered Free Cash Flow, 1 Yr. Growth %	-141.49	-194.44	22.6	699.58	12.74
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.06	3.71	12.16	3.55	-4.83
Gross Profit, 2 Yr. CAGR %	4.77	12.84	13.53	6.08	5.6
EBITDA, 2 Yr. CAGR %	12.13	14.47	8.4	5.71	7.46
EBITA, 2 Yr. CAGR %	20.07	23.19	11.99	6.96	9.05
EBIT, 2 Yr. CAGR %	23.23	25.07	16.26	6.58	9.64
Earnings From Cont. Operations, 2 Yr. CAGR %	156.74	226.83	29.81	0	10.77
Net Income, 2 Yr. CAGR %	156.74	226.13	13.74	3.67	2.8
Normalized Net Income, 2 Yr. CAGR %	41.6	36.09	-14.9	-31.33	55.63
Diluted EPS Before Extra, 2 Yr. CAGR %	161.85	237.81	19.23	-10.72	48.07
Accounts Receivable, 2 Yr. CAGR %	16.56	19.63	0.46	-8.15	7.31
Inventory, 2 Yr. CAGR %	2.29	31.85	39.04	-2.89	-17.15
Net Property, Plant and Equip., 2 Yr. CAGR %	8.28	-1.05	3.9	1.94	-0.94
Total Assets, 2 Yr. CAGR %	8.31	18.81	16.23	-2.8	-7.34
Tangible Book Value, 2 Yr. CAGR %	16.62	25.69	31.56	28.85	-7.73
Common Equity, 2 Yr. CAGR %	7.52	20.77	24.79	13.56	-3.32
Cash From Operations, 2 Yr. CAGR %	-77.98	-18.27	156.85	13.79	25.87
Capital Expenditures, 2 Yr. CAGR %	-30.47	-2.08	34.5	9.38	-16.95
Levered Free Cash Flow, 2 Yr. CAGR %	56.12	-45.3	-20.45	143.95	507.91
Unlevered Free Cash Flow, 2 Yr. CAGR %	9.91	-37.04	25.12	98.19	200.4
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.76	-0.22	7.82	3.07	1.57
Gross Profit, 3 Yr. CAGR %	2.2	6.39	14.38	4.4	7.49
EBITDA, 3 Yr. CAGR %	8.58	10.08	15.29	2.11	8.73
EBITA, 3 Yr. CAGR %	14.19	16.66	23.14	2.67	11.17
EBIT, 3 Yr. CAGR %	16.64	18.71	24.27	4.69	11.51
Earnings From Cont. Operations, 3 Yr. CAGR %	12.67	116.21	127.27	12.47	-1.32
Net Income, 3 Yr. CAGR %	12.67	115.91	108.1	17.95	-3.62
Normalized Net Income, 3 Yr. CAGR %	21.96	30.41	8.71	-18.65	3.87
Diluted EPS Before Extra, 3 Yr. CAGR %	14.79	122.35	116.29	5.83	5.45
Accounts Receivable, 3 Yr. CAGR %	12.7	7.61	16.34	-8.19	3.29
Inventory, 3 Yr. CAGR %	0.83	20.91	25.77	16.79	-8.32
Net Property, Plant and Equip., 3 Yr. CAGR %	6.94	5.74	1.58	1.57	1.54
Total Assets, 3 Yr. CAGR %	4.91	12.7	16.05	4.86	-1.66
Tangible Book Value, 3 Yr. CAGR %	13.14	14.85	34.9	22.75	11.77
Common Equity, 3 Yr. CAGR %	4.41	11.58	23.64	15.72	6.6
Cash From Operations, 3 Yr. CAGR %	-66.6	-29.89	-14.74	109.6	13.7
Capital Expenditures, 3 Yr. CAGR %	-14.52	-15.18	11.18	14.72	-0.38
Levered Free Cash Flow, 3 Yr. CAGR %	105.48	4.31	-31.15	36.07	89.34
Unlevered Free Cash Flow, 3 Yr. CAGR %	117.21	3.36	-21.25	61.85	64.27
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.24	1.76	3.59	0.16	1.29
Gross Profit, 5 Yr. CAGR %	2	3.33	6.59	4.55	7.83
EBITDA, 5 Yr. CAGR %	3.47	4.99	9.7	7.16	9.81
EBITA, 5 Yr. CAGR %	6.05	8.08	15.07	11.01	14.11
EBIT, 5 Yr. CAGR %	6.69	9.26	16.48	11.74	14.74
Earnings From Cont. Operations, 5 Yr. CAGR %	6.66	24.08	19.24	56.46	56.95
Net Income, 5 Yr. CAGR %	6.66	23.98	13.1	61	56.95
Normalized Net Income, 5 Yr. CAGR %	8.01	11.31	6.84	2.72	17.82
Diluted EPS Before Extra, 5 Yr. CAGR %	8.9	26.88	16.54	52.05	65.49
Accounts Receivable, 5 Yr. CAGR %	10.75	7.58	7.63	1.01	9.54
Inventory, 5 Yr. CAGR %	2.21	14.14	14.66	10.76	6.02
Net Property, Plant and Equip., 5 Yr. CAGR %	3.94	3.58	5.72	4.2	0.5
Total Assets, 5 Yr. CAGR %	5.04	8.94	9.3	6.22	6.07
Tangible Book Value, 5 Yr. CAGR %	11.73	12.86	20.17	20.26	17.15
Common Equity, 5 Yr. CAGR %	5.97	9.32	12.13	12.37	12.06
Cash From Operations, 5 Yr. CAGR %	-33.85	-23.16	-24.48	-14.9	-0.37
Capital Expenditures, 5 Yr. CAGR %	-7.22	-3.34	2.47	-6.1	-1.06
Levered Free Cash Flow, 5 Yr. CAGR %	-10.49	-20.89	34.54	37.59	8.19
Unlevered Free Cash Flow, 5 Yr. CAGR %	-16.49	-15.91	63.09	29.8	8.35