Flex (FLEX) Financials

$30.65 +1.06 (+3.58%)

As of 04:00 PM Eastern

Annual Income Statements for Flex

This table shows Flex's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	601	444	320	429	93	88	613	936	793	1,006
Consolidated Net Income / (Loss)	601	444	320	429	93	88	613	940	1,033	1,245
Net Income / (Loss) Continuing Operations	601	444	320	429	93	88	613	872	683	872
Total Pre-Tax Income	671	455	371	521	182	159	714	964	807	666
Total Operating Income	722	539	392	351	477	415	795	890	1,017	853
Total Gross Profit	1,545	1,608	1,521	1,596	1,518	1,339	1,687	1,780	1,976	1,865
Total Revenue	26,148	24,419	23,863	25,441	26,211	24,210	24,124	24,633	28,502	26,415
Operating Revenue	26,148	24,419	23,863	25,441	26,211	24,210	24,124	24,633	28,502	26,415
Total Cost of Revenue	24,603	22,811	22,342	23,845	24,693	22,871	22,437	22,853	26,526	24,550
Operating Cost of Revenue	24,603	22,811	22,342	23,845	24,594	22,681	22,349	22,838	26,503	24,395
Other Cost of Revenue	0.00	0.00	-	-	99	190	88	15	23	155
Total Operating Expenses	823	1,069	1,129	1,245	1,041	924	892	890	959	1,012
Selling, General & Admin Expense	844	955	937	1,019	953	834	817	830	874	922
Amortization Expense	32	66	81	79	74	64	62	60	81	70
Restructuring Charge	0.00	0.00	11	24	14	26	13	0.00	4.00	20
Total Other Income / (Expense), net	-51	-85	-21	170	-295	-256	-81	74	-210	-187
Interest Expense	-	-	-	-	175	174	148	166	230	207
Interest & Investment Income	-	-	-	-	-	-	83	75	26	64
Other Income / (Expense), net	-51	-85	-21	170	-120	-82	-16	165	-6.00	-44
Income Tax Expense	70	11	51	92	89	71	101	92	124	-206
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	68	350	373
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	0.00	0.00	4.00	240	239
Basic Earnings per Share	$1.04	$0.80	$0.59	$0.81	$0.18	$0.17	$1.23	$1.97	$1.75	$2.31
Weighted Average Basic Shares Outstanding	579.98M	557.67M	540.50M	529.78M	527M	509M	499M	476M	454M	435M
Diluted Earnings per Share	$1.02	$0.79	$0.59	$0.80	$0.18	$0.17	$1.21	$1.94	$1.72	$2.28
Weighted Average Diluted Shares Outstanding	591.56M	564.87M	546.22M	536.60M	527M	512M	506M	483M	462M	441M
Weighted Average Basic & Diluted Shares Outstanding	577.70M	555.10M	541.60M	529.10M	527M	509M	499M	457.64M	444.49M	401.64M

This table shows Flex's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Income / (Loss) Attributable to Common Shareholders	189	232	230	142	186	228	197	395	139	214	263
Consolidated Net Income / (Loss)	195	238	237	363	211	406	233	395	139	214	263
Net Income / (Loss) Continuing Operations	195	238	237	13	147	201	129	86	139	214	263
Total Pre-Tax Income	232	272	262	41	164	233	152	-130	192	264	288
Total Operating Income	272	325	321	99	215	281	198	-86	233	297	334
Total Gross Profit	535	591	583	267	476	519	433	82	471	531	594
Total Revenue	7,347	7,766	7,756	5,633	6,892	6,933	6,421	4,949	6,314	6,545	6,556
Operating Revenue	7,347	7,766	7,756	5,633	6,892	6,933	6,421	4,949	6,314	6,545	6,556
Total Cost of Revenue	6,812	7,175	7,173	5,366	6,416	6,414	5,988	4,867	5,843	6,014	5,962
Operating Cost of Revenue	6,812	7,175	7,168	5,348	6,399	6,411	5,927	4,793	5,827	5,998	5,952
Other Cost of Revenue	0.00	0.00	5.00	18	17	3.00	61	74	16	16	10
Total Operating Expenses	263	266	262	168	261	238	235	168	238	234	260
Selling, General & Admin Expense	241	245	243	145	235	221	205	151	213	216	241
Amortization Expense	22	21	19	19	20	17	17	16	16	16	17
Restructuring Charge	0.00	0.00	0.00	4.00	6.00	0.00	13	1.00	9.00	2.00	2.00
Total Other Income / (Expense), net	-40	-53	-59	-58	-51	-48	-46	-44	-41	-33	-46
Interest Expense	49	47	54	80	56	49	50	80	56	53	57
Interest & Investment Income	-	-	-	-	16	15	13	-	16	16	16
Other Income / (Expense), net	9.00	-6.00	-5.00	-4.00	-11	-14	-9.00	-12	-1.00	4.00	-5.00
Income Tax Expense	37	34	25	28	17	32	23	-216	53	50	25
Net Income / (Loss) Discontinued Operations	-	-	-	-	64	205	104	-	0.00	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	6.00	6.00	7.00	221	25	178	36	-	0.00	0.00	0.00
Basic Earnings per Share	$0.41	$0.51	$0.51	$0.31	$0.42	$0.51	$0.46	$0.91	$0.35	$0.54	$0.68
Weighted Average Basic Shares Outstanding	458M	455M	452M	454M	447M	443M	431M	435M	402M	394M	387M
Diluted Earnings per Share	$0.40	$0.50	$0.50	$0.31	$0.41	$0.51	$0.45	$0.91	$0.34	$0.54	$0.67
Weighted Average Diluted Shares Outstanding	468M	460M	459M	462M	455M	448M	436M	441M	411M	400M	394M
Weighted Average Basic & Diluted Shares Outstanding	456.08M	452.78M	451.08M	444.49M	446.63M	434.86M	421.16M	401.64M	397.07M	387.78M	383.10M

This table details how cash moves in and out of Flex's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	35	-21	223	-358	252	226	714	1,293	1,141	184
Net Cash From Operating Activities	794	1,136	-3,822	-3,866	-2,971	-1,533	144	1,024	950	1,326
Net Cash From Continuing Operating Activities	794	1,136	-3,822	-3,866	-2,971	-1,533	144	1,964	1,743	2,332
Net Income / (Loss) Continuing Operations	601	444	320	429	93	88	613	1,876	1,826	2,251
Consolidated Net Income / (Loss)	601	444	320	429	93	88	613	1,876	1,826	2,251
Depreciation Expense	540	515	610	555	765	626	569	484	501	537
Non-Cash Adjustments To Reconcile Net Income	-30	110	64	-77	30	184	89	120	31	-205
Changes in Operating Assets and Liabilities, net	-318	67	-4,815	-4,773	-3,859	-2,431	-1,127	-516	-615	-251
Net Cash From Investing Activities	-242	-1,396	4,270	3,711	3,253	2,279	-202	-951	-604	-492
Net Cash From Continuing Investing Activities	-242	-1,396	4,270	3,711	3,253	2,279	-202	-951	-604	-492
Purchase of Property, Plant & Equipment	-347	-511	-525	-562	-726	-462	-351	-443	-635	-530
Acquisitions	-67	-917	-189	-271	-13	-1.00	0.00	-539	2.00	0.00
Sale of Property, Plant & Equipment	108	14	36	45	94	106	85	11	20	25
Divestitures	-	5.74	37	-	267	3.00	-3.00	9.00	2.00	12
Other Investing Activities, net	64	11	4,912	4,499	3,631	2,633	67	11	7.00	1.00
Net Cash From Financing Activities	-516	250	-242	-188	-30	-508	743	280	2.00	-1,656
Net Cash From Continuing Financing Activities	-516	250	-242	-188	-30	-508	743	280	2.00	-1,656
Repayment of Debt	-443	-276	-218	-1,421	-3,040	-1,318	-1,139	-281	-1,051	-487
Repurchase of Common Equity	-416	-420	-350	-180	-189	-260	-183	-686	-337	-1,298
Payment of Dividends	-	-	-	-	-	-	0.00	0.00	-22	0.00
Issuance of Debt	320	885	313	1,413	3,199	1,070	2,065	759	718	2.00
Issuance of Preferred Equity	-	-	-	-	-	-	0.00	488	0.00	0.00
Issuance of Common Equity	-	-	-	-	-	-	0.00	0.00	694	552
Other Financing Activities, net	24	61	12	-	-	-	-	0.00	0.00	-425

This table details how cash moves in and out of Flex's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Change in Cash & Equivalents	-317	-194	112	1,540	-634	240	-136	714	-231	358	-268
Net Cash From Operating Activities	38	103	359	450	6.00	357	284	679	340	319	413
Net Cash From Continuing Operating Activities	38	103	359	1,243	6.00	357	284	1,685	340	319	413
Net Income / (Loss) Continuing Operations	195	238	237	1,156	211	406	233	1,401	139	214	263
Consolidated Net Income / (Loss)	195	238	237	1,156	211	406	233	1,401	139	214	263
Depreciation Expense	124	123	124	130	133	127	130	147	126	131	144
Changes in Operating Assets and Liabilities, net	-281	-258	-2.00	-74	-338	-176	-79	342	75	-26	6.00
Net Cash From Investing Activities	-89	-182	-154	-179	-155	-142	-117	-78	-82	-124	-435
Net Cash From Continuing Investing Activities	-89	-182	-154	-179	-155	-142	-117	-78	-82	-124	-435
Purchase of Property, Plant & Equipment	-107	-189	-159	-180	-167	-152	-130	-81	-111	-103	-112
Acquisitions	-	-	-	-	0.00	-	-	-	2.00	-3.00	-346
Sale of Property, Plant & Equipment	16	2.00	2.00	-	11	8.00	2.00	4.00	3.00	3.00	5.00
Other Investing Activities, net	2.00	1.00	7.00	-3.00	1.00	2.00	11	-13	24	-21	18
Net Cash From Financing Activities	-210	-86	-157	455	-486	26	-308	-888	-468	147	-203
Net Cash From Continuing Financing Activities	-210	-86	-157	455	-486	26	-308	-888	-468	147	-203
Repayment of Debt	-29	-14	-936	-72	-291	-160	-33	-3.00	-11	-52	-2.00
Repurchase of Common Equity	-181	-72	-40	-44	-197	-309	-275	-517	-457	-300	-201
Effect of Exchange Rate Changes	-	-	64	-	-	-	5.00	-	-	-	-43

This table presents Flex's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	11,653	12,385	12,593	13,716	13,499	13,690	15,836	19,325	21,407	18,257
Total Current Assets	8,741	8,315	8,388	9,170	9,103	9,086	11,363	14,337	16,033	12,992
Cash & Equivalents	1,628	1,608	1,831	1,472	1,697	1,923	2,637	2,964	3,164	2,474
Accounts Receivable	2,338	2,045	2,193	2,518	2,613	2,436	3,959	3,371	3,480	3,033
Inventories, net	3,489	3,492	3,396	3,800	3,723	3,785	3,895	6,580	7,388	6,205
Other Current Assets	1,286	1,171	968	1,380	1,071	942	872	1,422	1,118	1,280
Plant, Property, & Equipment, net	2,092	2,258	2,317	2,240	2,336	2,216	2,097	2,125	2,342	2,269
Total Noncurrent Assets	820	1,812	1,889	2,306	2,060	2,388	2,376	2,863	3,032	2,996
Goodwill	415	942	985	1,121	1,073	1,065	1,090	1,342	1,139	1,135
Intangible Assets	-	404	362	424	331	262	213	411	315	245
Other Noncurrent Operating Assets	405	466	542	760	656	1,061	1,073	1,110	1,095	1,616
Total Liabilities & Shareholders' Equity	11,653	12,385	12,593	13,716	13,499	13,690	15,836	19,325	21,407	18,257
Total Liabilities	9,257	9,779	9,915	10,697	10,527	10,859	12,400	15,118	15,701	12,932
Total Current Liabilities	6,755	6,572	6,505	7,268	7,598	7,211	7,834	10,711	10,867	8,539
Short-Term Debt	45	65	62	43	633	149	268	949	150	0.00
Accounts Payable	4,561	4,248	4,485	5,122	5,147	5,108	5,247	6,254	5,724	4,468
Current Deferred Revenue	-	-	-	-	-	-	848	2,002	2,955	2,615
Current Employee Benefit Liabilities	340	354	344	383	392	364	473	470	506	488
Other Current Liabilities	1,809	1,905	1,614	1,719	1,426	1,590	998	1,036	1,019	968
Total Noncurrent Liabilities	2,502	3,207	3,410	3,429	2,929	3,648	4,566	4,407	4,834	4,393
Long-Term Debt	2,026	2,709	2,891	2,898	2,422	2,689	3,515	3,248	3,544	3,261
Other Noncurrent Operating Liabilities	476	498	520	532	508	959	1,051	1,159	1,058	1,132
Total Equity & Noncontrolling Interests	2,396	2,606	2,678	3,019	2,972	2,831	3,436	4,129	5,706	5,325
Total Preferred & Common Equity	2,361	2,571	2,645	3,019	2,972	2,831	3,436	4,129	5,351	5,325
Total Common Equity	2,361	2,571	2,645	3,019	2,972	2,831	3,436	4,129	5,351	5,325
Common Stock	7,266	6,987	6,734	6,637	6,524	6,336	6,232	6,052	6,493	5,074
Retained Earnings	-4,336	-3,892	-3,573	-3,144	-3,012	-2,902	-2,289	-1,353	-560	446
Accumulated Other Comprehensive Income / (Loss)	-181	-136	-128	-86	-151	-215	-119	-182	-194	-195

This table presents Flex's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Total Assets	18,175	20,054	20,623	20,892	20,936	20,968	20,366	17,737	18,586	18,272
Total Current Assets	13,213	15,147	15,630	15,819	15,540	15,463	14,877	12,548	13,351	12,756
Cash & Equivalents	2,574	2,647	2,453	2,565	2,660	2,900	2,764	2,243	2,601	2,313
Accounts Receivable	3,493	3,782	3,956	3,939	3,764	3,801	3,605	2,952	3,502	3,382
Inventories, net	5,958	7,243	7,726	7,838	7,526	7,166	6,815	5,839	5,466	5,270
Other Current Assets	1,188	1,475	1,495	1,477	1,590	1,596	1,693	1,514	1,782	1,791
Plant, Property, & Equipment, net	2,112	2,135	2,201	2,289	2,363	2,328	2,328	2,228	2,254	2,241
Total Noncurrent Assets	2,850	2,772	2,792	2,784	3,033	3,177	3,161	2,961	2,981	3,275
Goodwill	1,346	1,336	1,325	1,340	1,344	1,337	1,348	1,139	1,146	1,332
Intangible Assets	428	372	328	332	299	275	266	230	223	343
Other Noncurrent Operating Assets	1,076	1,064	1,139	1,112	1,390	1,565	1,547	1,592	1,612	1,600
Total Liabilities & Shareholders' Equity	18,175	20,054	20,623	20,892	20,936	20,968	20,366	17,737	18,586	18,272
Total Liabilities	12,971	15,879	16,353	16,290	15,150	14,612	13,921	12,741	13,583	13,280
Total Current Liabilities	9,642	11,590	12,146	11,668	10,638	10,106	9,386	8,969	9,306	9,037
Short-Term Debt	648	946	916	494	151	0.00	3.00	543	531	532
Accounts Payable	5,992	6,694	6,818	6,630	5,890	5,728	5,292	4,726	5,144	5,033
Current Deferred Revenue	-	2,400	2,700	2,985	3,038	2,795	2,567	2,265	2,134	1,942
Current Employee Benefit Liabilities	465	419	479	502	474	500	513	428	473	511
Other Current Liabilities	988	1,131	1,233	1,057	1,085	1,083	1,011	1,007	1,024	1,019
Total Noncurrent Liabilities	4,878	4,289	4,207	4,622	4,512	4,506	4,535	3,772	4,277	4,243
Long-Term Debt	3,798	3,129	3,081	3,522	3,444	3,412	3,431	2,672	3,178	3,147
Other Noncurrent Operating Liabilities	1,080	1,160	1,126	1,100	1,068	1,094	1,104	1,100	1,099	1,096
Total Equity & Noncontrolling Interests	3,655	4,091	4,180	4,505	5,786	6,356	6,445	4,996	5,003	4,992
Total Preferred & Common Equity	3,655	4,091	4,180	4,505	5,406	5,906	5,965	4,996	5,003	4,992
Total Common Equity	3,655	4,091	4,180	4,505	5,406	5,906	5,965	4,996	5,003	4,992
Common Stock	5,721	5,897	5,852	5,839	6,337	6,292	6,056	4,649	4,377	4,209
Retained Earnings	-1,520	-1,164	-932	-702	-374	-146	51	585	799	1,062
Accumulated Other Comprehensive Income / (Loss)	-158	-254	-352	-244	-169	-240	-142	-238	-173	-279

This table displays calculated financial ratios and metrics derived from Flex's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.15%	-6.61%	-2.28%	6.61%	3.03%	-7.63%	-0.36%	2.11%	15.71%	-7.32%
EBITDA Growth	40.02%	-19.91%	1.08%	9.77%	4.25%	-14.49%	40.50%	14.17%	-1.75%	-10.98%
EBIT Growth	67.47%	-32.20%	-18.44%	40.46%	-31.54%	-6.62%	133.93%	35.43%	-4.17%	-19.98%
NOPAT Growth	36.29%	-18.54%	-35.88%	-14.48%	-15.70%	-5.69%	197.16%	17.95%	6.92%	29.75%
Net Income Growth	64.34%	-26.09%	-28.04%	34.10%	-78.30%	-5.38%	596.59%	53.34%	9.89%	20.52%
EPS Growth	72.88%	-22.55%	-25.32%	35.59%	-77.50%	-5.56%	611.76%	53.34%	9.89%	32.56%
Operating Cash Flow Growth	-34.73%	43.12%	-436.32%	-1.16%	23.16%	48.40%	109.39%	611.11%	-7.23%	39.58%
Free Cash Flow Firm Growth	5.53%	-178.44%	176.36%	-228.19%	200.49%	103.44%	-118.85%	65.50%	1,395.36%	-9.61%
Invested Capital Growth	4.73%	32.89%	0.72%	18.08%	-3.49%	-13.49%	22.32%	18.73%	3.22%	8.85%
Revenue Q/Q Growth	-2.87%	-0.73%	0.38%	2.20%	-0.70%	-2.97%	3.35%	-3.23%	0.67%	-2.52%
EBITDA Q/Q Growth	10.39%	-8.44%	4.16%	-6.16%	25.11%	-7.34%	12.03%	1.18%	-3.26%	-11.56%
EBIT Q/Q Growth	16.97%	-16.01%	8.71%	-13.76%	52.19%	32.56%	15.77%	2.93%	-5.07%	-19.26%
NOPAT Q/Q Growth	6.07%	-10.10%	-10.45%	-48.96%	120.22%	315.39%	21.90%	-13.75%	-7.68%	12.71%
Net Income Q/Q Growth	18.11%	-14.25%	8.68%	-19.90%	-32.68%	440.04%	45.22%	-6.84%	22.83%	2.64%
EPS Q/Q Growth	18.60%	-14.13%	9.26%	-19.19%	-30.77%	666.67%	47.56%	-6.84%	22.83%	30.29%
Operating Cash Flow Q/Q Growth	3.45%	6.77%	-415.91%	51.32%	3.77%	34.53%	-3.36%	24.12%	10.47%	20.88%
Free Cash Flow Firm Q/Q Growth	-2.24%	-3.56%	-34.92%	4.32%	82.18%	57.22%	-25.83%	96.61%	-64.93%	971.48%
Invested Capital Q/Q Growth	2.40%	0.57%	4.07%	-3.17%	-4.29%	-3.95%	0.00%	-23.12%	-7.24%	-14.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.91%	6.59%	6.37%	6.27%	5.79%	5.53%	6.99%	7.23%	6.93%	7.06%
EBITDA Margin	4.63%	3.97%	4.11%	4.23%	4.28%	3.96%	5.59%	6.25%	5.30%	5.10%
Operating Margin	2.76%	2.21%	1.64%	1.38%	1.82%	1.71%	3.30%	3.61%	3.57%	3.23%
EBIT Margin	2.56%	1.86%	1.55%	2.05%	1.36%	1.38%	3.23%	4.28%	3.55%	3.06%
Profit (Net Income) Margin	2.30%	1.82%	1.34%	1.68%	0.35%	0.36%	2.54%	3.82%	3.62%	4.71%
Tax Burden Percent	89.58%	97.67%	86.17%	82.27%	51.10%	55.35%	85.85%	97.51%	128.01%	186.94%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	51.04%	47.75%	91.66%	91.37%	79.82%	82.32%
Effective Tax Rate	10.42%	2.33%	13.83%	17.73%	48.90%	44.65%	14.15%	9.54%	15.37%	-30.93%
Return on Invested Capital (ROIC)	23.31%	15.94%	8.92%	6.97%	5.52%	5.69%	16.39%	16.07%	15.57%	19.05%
ROIC Less NNEP Spread (ROIC-NNEP)	13.63%	5.65%	7.33%	17.76%	-5.13%	-6.78%	9.64%	27.41%	45.74%	55.87%
Return on Net Nonoperating Assets (RNNOA)	2.82%	1.82%	3.17%	8.07%	-2.42%	-2.66%	3.17%	8.53%	5.27%	3.53%
Return on Equity (ROE)	26.13%	17.76%	12.10%	15.04%	3.10%	3.03%	19.56%	24.60%	20.84%	22.57%
Cash Return on Invested Capital (CROIC)	18.69%	-12.31%	8.20%	-9.61%	9.08%	20.16%	-3.69%	-1.06%	12.41%	10.57%
Operating Return on Assets (OROA)	5.55%	3.78%	2.97%	3.96%	2.62%	2.45%	5.28%	6.00%	4.96%	4.08%
Return on Assets (ROA)	4.98%	3.69%	2.56%	3.26%	0.68%	0.65%	4.15%	5.35%	5.07%	6.28%
Return on Common Equity (ROCE)	25.71%	17.51%	11.94%	14.96%	3.10%	3.03%	19.56%	24.35%	19.93%	21.85%
Return on Equity Simple (ROE_SIMPLE)	25.45%	17.27%	12.08%	14.20%	3.13%	3.11%	17.84%	22.77%	19.30%	23.38%
Net Operating Profit after Tax (NOPAT)	647	527	338	289	244	230	683	805	861	1,117
NOPAT Margin	2.47%	2.16%	1.42%	1.14%	0.93%	0.95%	2.83%	3.27%	3.02%	4.23%
Net Nonoperating Expense Percent (NNEP)	9.68%	10.29%	1.60%	-10.78%	10.65%	12.47%	6.75%	-11.34%	-30.17%	-36.83%
Cost of Revenue to Revenue	94.09%	93.41%	93.63%	93.73%	94.21%	94.47%	93.01%	92.77%	93.07%	92.94%
SG&A Expenses to Revenue	3.23%	3.91%	3.93%	4.01%	3.64%	3.44%	3.39%	3.37%	3.07%	3.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.15%	4.38%	4.73%	4.89%	3.97%	3.82%	3.70%	3.61%	3.36%	3.83%
Earnings before Interest and Taxes (EBIT)	671	455	371	521	357	333	779	1,055	1,011	809
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,211	970	981	1,076	1,122	959	1,348	1,539	1,512	1,346
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.07	2.57	3.40	2.85	1.75	1.49	2.66	2.09	1.94	2.26
Price to Tangible Book Value (P/TBV)	3.73	5.40	6.93	5.85	3.32	2.81	4.29	3.62	2.66	3.05
Price to Revenue (P/Rev)	0.28	0.27	0.38	0.34	0.20	0.17	0.38	0.35	0.36	0.46
Price to Earnings (P/E)	12.08	14.90	28.14	20.11	56.07	47.97	14.91	9.20	13.09	11.98
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.28%	6.71%	3.55%	4.97%	1.78%	2.08%	6.71%	10.87%	7.64%	8.35%
Enterprise Value to Invested Capital (EV/IC)	2.72	2.07	2.67	2.25	1.52	1.37	2.24	1.82	2.01	2.10
Enterprise Value to Revenue (EV/Rev)	0.30	0.32	0.43	0.40	0.25	0.21	0.43	0.40	0.40	0.49
Enterprise Value to EBITDA (EV/EBITDA)	6.38	8.06	10.35	9.37	5.86	5.35	7.63	6.45	7.45	9.54
Enterprise Value to EBIT (EV/EBIT)	11.53	17.19	27.36	19.36	18.43	15.42	13.20	9.40	11.14	15.87
Enterprise Value to NOPAT (EV/NOPAT)	11.95	14.84	30.04	34.91	26.99	22.36	15.07	12.32	13.09	11.49
Enterprise Value to Operating Cash Flow (EV/OCF)	9.74	6.88	0.00	0.00	0.00	0.00	71.43	9.69	11.86	9.68
Enterprise Value to Free Cash Flow (EV/FCFF)	14.91	0.00	32.67	0.00	16.43	6.31	0.00	0.00	16.43	20.71
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	1.06	1.10	0.97	1.03	1.00	1.10	1.00	0.65	0.61
Long-Term Debt to Equity	0.85	1.04	1.08	0.96	0.81	0.95	1.02	0.77	0.62	0.61
Financial Leverage	0.21	0.32	0.43	0.45	0.47	0.39	0.33	0.31	0.12	0.06
Leverage Ratio	5.25	4.81	4.73	4.62	4.54	4.69	4.71	4.60	4.11	3.60
Compound Leverage Factor	5.25	4.81	4.73	4.62	2.32	2.24	4.32	4.20	3.28	2.96
Debt to Total Capital	46.36%	51.57%	52.43%	49.35%	50.68%	50.06%	52.40%	49.94%	39.30%	37.98%
Short-Term Debt to Total Capital	1.01%	1.21%	1.09%	0.72%	10.50%	2.63%	3.71%	11.29%	1.60%	0.00%
Long-Term Debt to Total Capital	45.35%	50.36%	51.34%	48.62%	40.19%	47.43%	48.69%	38.65%	37.70%	37.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.79%	0.64%	0.60%	0.00%	0.00%	0.00%	0.00%	0.93%	3.78%	0.00%
Common Equity to Total Capital	52.85%	47.79%	46.97%	50.65%	49.32%	49.94%	47.60%	49.13%	56.93%	62.02%
Debt to EBITDA	1.71	2.86	3.01	2.73	2.72	2.96	2.81	2.73	2.44	2.42
Net Debt to EBITDA	0.37	1.20	1.14	1.36	1.21	0.95	0.85	0.80	0.35	0.58
Long-Term Debt to EBITDA	1.67	2.79	2.95	2.69	2.16	2.80	2.61	2.11	2.34	2.42
Debt to NOPAT	3.20	5.27	8.74	10.18	12.54	12.36	5.54	5.21	4.29	2.92
Net Debt to NOPAT	0.68	2.21	3.32	5.08	5.58	3.98	1.68	1.53	0.62	0.70
Long-Term Debt to NOPAT	3.13	5.14	8.56	10.03	9.94	11.71	5.15	4.03	4.12	2.92
Altman Z-Score	2.59	2.23	2.32	2.31	2.15	1.95	2.19	1.92	2.14	2.48
Noncontrolling Interest Sharing Ratio	1.61%	1.40%	1.29%	0.59%	0.00%	0.00%	0.00%	1.02%	4.37%	3.22%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.29	1.27	1.29	1.26	1.20	1.26	1.45	1.34	1.48	1.52
Quick Ratio	0.59	0.56	0.62	0.55	0.57	0.60	0.84	0.59	0.61	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	519	-407	311	-398	400	814	-153	-53	686	620
Operating Cash Flow to CapEx	331.23%	228.68%	-780.81%	-747.53%	-470.09%	-430.62%	54.14%	237.04%	154.47%	262.57%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	2.29	4.68	-1.04	-0.32	2.98	2.99
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	-16.98	-8.81	0.97	6.17	4.13	6.41
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-20.59	-10.86	-0.82	3.57	1.46	3.97
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.17	2.03	1.91	1.93	1.93	1.78	1.63	1.40	1.40	1.33
Accounts Receivable Turnover	10.39	11.14	11.26	10.80	10.22	9.59	7.54	6.72	8.32	8.11
Inventory Turnover	6.94	6.54	6.49	6.63	6.56	6.09	5.84	4.36	3.80	3.61
Fixed Asset Turnover	11.94	11.23	10.43	11.17	11.46	10.64	11.19	11.67	12.76	11.46
Accounts Payable Turnover	5.29	5.18	5.12	4.96	4.81	4.46	4.33	3.97	4.43	4.82
Days Sales Outstanding (DSO)	35.15	32.75	32.41	33.79	35.72	38.06	48.38	54.31	43.87	45.00
Days Inventory Outstanding (DIO)	52.58	55.85	56.27	55.08	55.60	59.91	62.47	83.65	96.10	101.05
Days Payable Outstanding (DPO)	69.05	70.48	71.34	73.53	75.90	81.83	84.23	91.84	82.41	75.77
Cash Conversion Cycle (CCC)	18.67	18.12	17.34	15.34	15.42	16.14	26.62	46.11	57.56	70.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,839	3,773	3,800	4,487	4,330	3,746	4,582	5,440	5,615	6,112
Invested Capital Turnover	9.42	7.39	6.30	6.14	5.95	6.00	5.79	4.92	5.16	4.51
Increase / (Decrease) in Invested Capital	128	934	27	687	-157	-584	836	858	175	497
Enterprise Value (EV)	7,733	7,818	10,147	10,085	6,572	5,136	10,286	9,920	11,264	12,836
Market Capitalization	7,255	6,616	8,992	8,617	5,214	4,221	9,140	8,609	10,379	12,049
Book Value per Share	$4.12	$4.69	$4.94	$5.72	$5.70	$5.62	$6.88	$8.90	$11.86	$12.64
Tangible Book Value per Share	$3.40	$2.23	$2.42	$2.79	$3.01	$2.98	$4.27	$5.12	$8.64	$9.37
Total Capital	4,467	5,380	5,630	5,959	6,027	5,669	7,219	8,404	9,400	8,586
Total Debt	2,071	2,775	2,952	2,941	3,055	2,838	3,783	4,197	3,694	3,261
Total Long-Term Debt	2,026	2,709	2,891	2,898	2,422	2,689	3,515	3,248	3,544	3,261
Net Debt	443	1,167	1,121	1,468	1,358	915	1,146	1,233	530	787
Capital Expenditures (CapEx)	240	497	490	517	632	356	266	432	615	505
Debt-free, Cash-free Net Working Capital (DFCFNWC)	402	201	114	473	442	101	1,160	1,611	2,152	1,979
Debt-free Net Working Capital (DFNWC)	2,031	1,808	1,945	1,945	2,139	2,024	3,797	4,575	5,316	4,453
Net Working Capital (NWC)	1,986	1,743	1,883	1,902	1,506	1,875	3,529	3,626	5,166	4,453
Net Nonoperating Expense (NNE)	46	83	18	-140	151	142	70	-135	-172	-128
Net Nonoperating Obligations (NNO)	443	1,167	1,121	1,468	1,358	915	1,146	1,233	-91	787
Total Depreciation and Amortization (D&A)	540	515	610	555	765	626	569	484	501	537
Debt-free, Cash-free Net Working Capital to Revenue	1.54%	0.82%	0.48%	1.86%	1.69%	0.42%	4.81%	6.54%	7.55%	7.49%
Debt-free Net Working Capital to Revenue	7.77%	7.40%	8.15%	7.65%	8.16%	8.36%	15.74%	18.57%	18.65%	16.86%
Net Working Capital to Revenue	7.59%	7.14%	7.89%	7.48%	5.75%	7.74%	14.63%	14.72%	18.13%	16.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.76	$0.59	$0.43	$0.59	$0.13	$0.12	$0.90	$1.45	$1.29	$2.31
Adjusted Weighted Average Basic Shares Outstanding	789.78M	759.40M	736.03M	721.43M	716.98M	692.82M	679.51M	648.19M	618.23M	435M
Adjusted Diluted Earnings per Share	$0.75	$0.58	$0.43	$0.59	$0.13	$0.12	$0.89	$1.42	$1.26	$2.28
Adjusted Weighted Average Diluted Shares Outstanding	805.55M	769.21M	743.81M	730.71M	721.82M	697.81M	679.51M	657.72M	629.12M	441M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	768.01M	739.16M	721.61M	719.38M	699.98M	677.62M	679.51M	623.19M	605.29M	401.64M
Normalized Net Operating Profit after Tax (NOPAT)	599	574	433	410	251	244	694	805	864	611
Normalized NOPAT Margin	2.29%	2.35%	1.81%	1.61%	0.96%	1.01%	2.88%	3.27%	3.03%	2.31%
Pre Tax Income Margin	2.56%	1.86%	1.55%	2.05%	0.69%	0.66%	2.96%	3.91%	2.83%	2.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	2.04	1.91	5.26	6.36	4.40	3.91
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	1.39	1.32	4.61	4.85	3.74	5.40
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-1.57	-0.13	3.47	3.75	1.72	1.47
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-2.22	-0.73	2.81	2.25	1.07	2.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.13%	0.00%
Augmented Payout Ratio	69.23%	94.65%	109.38%	42.02%	203.23%	295.45%	29.85%	72.98%	34.75%	104.26%

This table displays calculated financial ratios and metrics derived from Flex's official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.85%	24.67%	17.18%	3.49%	-6.19%	-10.73%	-17.21%	-12.14%	-8.39%	-5.60%	2.10%
EBITDA Growth	15.38%	-9.61%	18.28%	-17.88%	-16.79%	-10.86%	-27.50%	-78.22%	6.23%	9.64%	48.28%
EBIT Growth	20.60%	-14.02%	25.90%	-35.37%	-27.40%	-16.30%	-40.19%	-203.16%	13.73%	12.73%	74.07%
NOPAT Growth	1.41%	32.49%	23.84%	-75.74%	-15.71%	-14.76%	-42.13%	-291.78%	-12.47%	-0.68%	81.51%
Net Income Growth	-5.34%	-29.17%	4.41%	112.28%	8.21%	70.59%	-1.69%	8.82%	-34.12%	-47.29%	12.88%
EPS Growth	-2.44%	-27.54%	4.41%	112.28%	8.21%	70.59%	-1.69%	193.55%	-17.07%	5.88%	48.89%
Operating Cash Flow Growth	-88.62%	-42.78%	139.33%	25.00%	-84.21%	246.60%	-20.89%	50.89%	5,566.67%	-10.64%	45.42%
Free Cash Flow Firm Growth	-452.44%	-907.37%	158.13%	80.29%	-18.57%	-17.86%	-168.07%	-288.00%	199.61%	222.94%	218.80%
Invested Capital Growth	21.96%	20.10%	-14.46%	3.22%	19.95%	18.13%	17.55%	8.85%	-11.20%	-11.02%	-10.64%
Revenue Q/Q Growth	34.98%	5.70%	-0.13%	-27.37%	22.35%	0.59%	-7.39%	-30.33%	27.58%	3.66%	0.17%
EBITDA Q/Q Growth	47.81%	9.14%	-0.45%	-48.86%	49.78%	16.91%	-19.04%	-89.64%	630.61%	20.67%	9.49%
EBIT Q/Q Growth	91.16%	13.52%	-0.94%	-69.94%	114.74%	30.88%	-29.21%	-128.57%	336.73%	29.74%	9.30%
NOPAT Q/Q Growth	76.66%	24.39%	2.11%	-89.19%	513.93%	25.79%	-30.68%	-122.79%	380.20%	42.72%	26.69%
Net Income Q/Q Growth	14.04%	22.05%	-0.42%	53.16%	-41.87%	92.42%	-42.61%	69.53%	-64.81%	53.96%	22.90%
EPS Q/Q Growth	14.29%	25.00%	-0.42%	53.16%	-41.87%	92.42%	-42.61%	102.22%	-62.64%	58.82%	24.07%
Operating Cash Flow Q/Q Growth	-89.44%	171.05%	248.54%	25.35%	-98.67%	5,850.00%	-20.45%	139.08%	-49.93%	-6.18%	29.47%
Free Cash Flow Firm Q/Q Growth	-7.11%	11.76%	290.72%	-110.93%	-544.31%	12.29%	-10.15%	30.17%	265.41%	8.25%	6.44%
Invested Capital Q/Q Growth	3.00%	3.77%	4.11%	-7.24%	19.70%	2.19%	3.60%	-14.10%	-2.36%	2.40%	4.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	7.28%	7.61%	7.52%	4.74%	6.91%	7.49%	6.74%	1.66%	7.46%	8.11%	9.06%
EBITDA Margin	5.51%	5.69%	5.67%	3.99%	4.89%	5.68%	4.97%	0.99%	5.67%	6.60%	7.21%
Operating Margin	3.70%	4.18%	4.14%	1.76%	3.12%	4.05%	3.08%	-1.74%	3.69%	4.54%	5.09%
EBIT Margin	3.82%	4.11%	4.07%	1.69%	2.96%	3.85%	2.94%	-1.98%	3.67%	4.60%	5.02%
Profit (Net Income) Margin	2.65%	3.06%	3.06%	6.44%	3.06%	5.86%	3.63%	7.98%	2.20%	3.27%	4.01%
Tax Burden Percent	84.05%	87.50%	90.46%	885.37%	128.66%	174.25%	153.29%	-303.85%	72.40%	81.06%	91.32%
Interest Burden Percent	82.56%	85.27%	82.91%	43.16%	80.39%	87.27%	80.42%	132.65%	82.76%	87.71%	87.54%
Effective Tax Rate	15.95%	12.50%	9.54%	68.29%	10.37%	13.73%	15.13%	0.00%	27.60%	18.94%	8.68%
Return on Invested Capital (ROIC)	15.65%	18.68%	16.15%	2.87%	12.73%	15.01%	10.29%	-5.48%	10.88%	14.43%	17.67%
ROIC Less NNEP Spread (ROIC-NNEP)	12.97%	15.45%	13.96%	60.95%	14.27%	30.92%	16.41%	125.32%	7.77%	11.12%	13.54%
Return on Net Nonoperating Assets (RNNOA)	4.24%	5.70%	8.23%	7.02%	3.39%	5.98%	3.15%	7.91%	1.37%	1.59%	2.41%
Return on Equity (ROE)	19.89%	24.38%	24.38%	9.89%	16.11%	20.99%	13.44%	2.43%	12.25%	16.01%	20.08%
Cash Return on Invested Capital (CROIC)	-3.88%	-1.77%	29.79%	12.41%	-4.76%	-4.28%	-6.13%	10.57%	28.96%	28.20%	29.07%
Operating Return on Assets (OROA)	5.41%	5.98%	5.91%	2.36%	4.05%	5.04%	3.69%	-2.64%	4.91%	5.92%	6.65%
Return on Assets (ROA)	3.75%	4.46%	4.43%	9.02%	4.19%	7.66%	4.55%	10.63%	2.94%	4.21%	5.31%
Return on Common Equity (ROCE)	19.68%	24.09%	24.09%	9.46%	15.36%	19.92%	12.74%	2.35%	11.82%	15.38%	19.24%
Return on Equity Simple (ROE_SIMPLE)	22.71%	19.88%	18.67%	0.00%	19.40%	20.61%	20.34%	0.00%	23.48%	19.61%	20.25%
Net Operating Profit after Tax (NOPAT)	229	284	290	31	193	242	168	-60	169	241	305
NOPAT Margin	3.11%	3.66%	3.74%	0.56%	2.80%	3.50%	2.62%	-1.22%	2.67%	3.68%	4.65%
Net Nonoperating Expense Percent (NNEP)	2.67%	3.23%	2.19%	-58.08%	-1.55%	-15.91%	-6.13%	-130.80%	3.11%	3.30%	4.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	1.70%	-	-	-	3.52%
Cost of Revenue to Revenue	92.72%	92.39%	92.48%	95.26%	93.09%	92.51%	93.26%	98.34%	92.54%	91.89%	90.94%
SG&A Expenses to Revenue	3.28%	3.15%	3.13%	2.57%	3.41%	3.19%	3.19%	3.05%	3.37%	3.30%	3.68%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.58%	3.43%	3.38%	2.98%	3.79%	3.43%	3.66%	3.39%	3.77%	3.58%	3.97%
Earnings before Interest and Taxes (EBIT)	281	319	316	95	204	267	189	-98	232	301	329
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	405	442	440	225	337	394	319	49	358	432	473
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.59	1.82	2.16	1.94	2.27	2.04	2.22	2.26	2.37	2.66	2.98
Price to Tangible Book Value (P/TBV)	2.74	3.01	3.43	2.66	3.26	2.81	3.04	3.05	3.27	3.67	4.49
Price to Revenue (P/Rev)	0.25	0.28	0.34	0.36	0.44	0.44	0.51	0.46	0.46	0.52	0.58
Price to Earnings (P/E)	7.10	9.32	11.88	13.09	15.55	15.33	17.59	11.98	12.35	14.10	14.73
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	14.09%	10.73%	8.42%	7.64%	6.43%	6.52%	5.68%	8.35%	8.10%	7.09%	6.79%
Enterprise Value to Invested Capital (EV/IC)	1.43	1.59	1.86	2.01	2.02	1.89	2.02	2.10	2.15	2.36	2.56
Enterprise Value to Revenue (EV/Rev)	0.31	0.34	0.40	0.40	0.48	0.48	0.56	0.49	0.50	0.57	0.64
Enterprise Value to EBITDA (EV/EBITDA)	5.04	5.97	7.21	7.45	9.42	9.32	11.29	9.54	9.38	10.27	10.43
Enterprise Value to EBIT (EV/EBIT)	7.28	8.78	10.58	11.14	14.56	14.75	19.07	15.87	15.31	16.57	16.08
Enterprise Value to NOPAT (EV/NOPAT)	9.91	10.51	12.08	13.09	16.49	16.63	21.86	11.49	11.82	13.45	13.53
Enterprise Value to Operating Cash Flow (EV/OCF)	11.03	14.18	13.10	11.86	14.82	11.10	13.12	9.68	7.72	8.90	9.28
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	5.76	16.43	0.00	0.00	0.00	20.71	6.98	7.89	8.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.98	0.94	0.87	0.65	0.62	0.54	0.53	0.61	0.64	0.74	0.74
Long-Term Debt to Equity	0.75	0.72	0.77	0.62	0.60	0.54	0.53	0.61	0.53	0.64	0.63
Financial Leverage	0.33	0.37	0.59	0.12	0.24	0.19	0.19	0.06	0.18	0.14	0.18
Leverage Ratio	4.72	4.80	4.73	4.11	4.12	3.91	3.73	3.60	3.59	3.48	3.38
Compound Leverage Factor	3.90	4.09	3.92	1.77	3.31	3.42	3.00	4.77	2.97	3.05	2.96
Debt to Total Capital	49.39%	48.35%	46.60%	39.30%	38.32%	34.93%	34.76%	37.98%	39.15%	42.57%	42.43%
Short-Term Debt to Total Capital	11.47%	11.08%	5.73%	1.60%	1.61%	0.00%	0.03%	0.00%	6.61%	6.10%	6.14%
Long-Term Debt to Total Capital	37.93%	37.27%	40.87%	37.70%	36.71%	34.93%	34.73%	37.98%	32.54%	36.48%	36.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.02%	1.09%	1.13%	3.78%	4.05%	4.61%	4.86%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	49.59%	50.56%	52.27%	56.93%	57.63%	60.46%	60.38%	62.02%	60.85%	57.43%	57.57%
Debt to EBITDA	2.56	2.59	2.57	2.44	2.49	2.44	2.69	2.42	2.35	2.64	2.36
Net Debt to EBITDA	0.90	1.00	0.93	0.35	0.65	0.37	0.53	0.58	0.71	0.79	0.88
Long-Term Debt to EBITDA	1.96	1.99	2.25	2.34	2.39	2.44	2.69	2.42	1.95	2.26	2.02
Debt to NOPAT	5.03	4.55	4.31	4.29	4.36	4.36	5.21	2.92	2.96	3.46	3.06
Net Debt to NOPAT	1.76	1.76	1.56	0.62	1.13	0.65	1.02	0.70	0.90	1.03	1.14
Long-Term Debt to NOPAT	3.86	3.51	3.78	4.12	4.18	4.36	5.21	2.92	2.46	2.96	2.62
Altman Z-Score	1.70	1.79	1.95	2.00	2.11	2.13	2.20	2.32	2.35	2.33	2.46
Noncontrolling Interest Sharing Ratio	1.09%	1.16%	1.17%	4.37%	4.66%	5.08%	5.22%	3.22%	3.52%	3.96%	4.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.29	1.36	1.48	1.46	1.53	1.59	1.52	1.40	1.43	1.41
Quick Ratio	0.55	0.53	0.56	0.61	0.60	0.66	0.68	0.64	0.58	0.66	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-780	-689	1,313	-144	-925	-812	-894	-557	922	998	1,062
Operating Cash Flow to CapEx	41.76%	55.08%	228.66%	250.00%	3.85%	247.92%	221.88%	881.82%	314.81%	319.00%	385.98%
Free Cash Flow to Firm to Interest Expense	-15.93	-14.65	24.32	-1.80	-16.52	-16.56	-17.88	-6.97	16.46	18.83	18.63
Operating Cash Flow to Interest Expense	0.78	2.19	6.65	5.63	0.11	7.29	5.68	8.49	6.07	6.02	7.25
Operating Cash Flow Less CapEx to Interest Expense	-1.08	-1.79	3.74	3.38	-2.68	4.35	3.12	7.53	4.14	4.13	5.37
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.41	1.46	1.45	1.40	1.37	1.31	1.25	1.33	1.34	1.29	1.32
Accounts Receivable Turnover	6.73	7.28	7.62	8.32	7.43	7.02	6.86	8.11	7.69	6.97	7.32
Inventory Turnover	4.07	3.91	3.81	3.80	3.54	3.41	3.30	3.61	3.59	3.73	3.90
Fixed Asset Turnover	12.15	12.64	12.87	12.76	12.47	12.02	11.21	11.46	11.26	11.11	11.20
Accounts Payable Turnover	3.92	3.98	4.16	4.43	4.15	4.04	4.06	4.82	4.52	4.34	4.56
Days Sales Outstanding (DSO)	54.21	50.11	47.91	43.87	49.10	52.02	53.20	45.00	47.44	52.37	49.84
Days Inventory Outstanding (DIO)	89.64	93.36	95.92	96.10	103.15	107.13	110.58	101.05	101.73	97.78	93.65
Days Payable Outstanding (DPO)	93.13	91.71	87.75	82.41	87.89	90.25	89.97	75.77	80.80	84.16	80.01
Cash Conversion Cycle (CCC)	50.72	51.76	56.07	57.56	64.36	68.90	73.81	70.28	68.36	65.99	63.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,603	5,814	6,053	5,615	6,721	6,868	7,115	6,112	5,968	6,111	6,358
Invested Capital Turnover	5.03	5.10	4.31	5.16	4.55	4.29	3.93	4.51	4.07	3.92	3.80
Increase / (Decrease) in Invested Capital	1,009	973	-1,023	175	1,118	1,054	1,062	497	-753	-757	-757
Enterprise Value (EV)	8,033	9,232	11,265	11,264	13,601	13,012	14,396	12,836	12,816	14,434	16,253
Market Capitalization	6,521	7,598	9,717	10,379	12,286	12,050	13,246	12,049	11,844	13,326	14,887
Book Value per Share	$8.94	$9.17	$9.95	$11.86	$12.16	$13.22	$13.72	$12.64	$12.44	$12.60	$12.87
Tangible Book Value per Share	$5.21	$5.54	$6.26	$8.64	$8.47	$9.61	$10.01	$9.37	$9.03	$9.15	$8.55
Total Capital	8,250	8,267	8,618	9,400	9,381	9,768	9,879	8,586	8,211	8,712	8,671
Total Debt	4,075	3,997	4,016	3,694	3,595	3,412	3,434	3,261	3,215	3,709	3,679
Total Long-Term Debt	3,129	3,081	3,522	3,544	3,444	3,412	3,431	3,261	2,672	3,178	3,147
Net Debt	1,428	1,544	1,451	530	935	512	670	787	972	1,108	1,366
Capital Expenditures (CapEx)	91	187	157	180	156	144	128	77	108	100	107
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,856	1,947	2,080	2,152	2,393	2,457	2,730	1,979	1,879	1,975	1,938
Debt-free Net Working Capital (DFNWC)	4,503	4,400	4,645	5,316	5,053	5,357	5,494	4,453	4,122	4,576	4,251
Net Working Capital (NWC)	3,557	3,484	4,151	5,166	4,902	5,357	5,491	4,453	3,579	4,045	3,719
Net Nonoperating Expense (NNE)	34	46	53	-332	-18	-164	-65	-455	30	27	42
Net Nonoperating Obligations (NNO)	1,428	1,544	1,451	-91	935	512	670	787	972	1,108	1,366
Total Depreciation and Amortization (D&A)	124	123	124	130	133	127	130	147	126	131	144
Debt-free, Cash-free Net Working Capital to Revenue	7.24%	7.16%	7.35%	7.55%	8.53%	9.03%	10.55%	7.49%	7.27%	7.76%	7.58%
Debt-free Net Working Capital to Revenue	17.56%	16.19%	16.41%	18.65%	18.02%	19.68%	21.23%	16.86%	15.95%	17.98%	16.62%
Net Working Capital to Revenue	13.87%	12.82%	14.66%	18.13%	17.48%	19.68%	21.22%	16.86%	13.85%	15.89%	14.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.30	$0.37	$0.37	$0.23	$0.31	$0.37	$0.46	$0.91	$0.35	$0.54	$0.68
Adjusted Weighted Average Basic Shares Outstanding	623.68M	619.59M	615.51M	618.23M	608.70M	603.25M	431M	435M	402M	394M	387M
Adjusted Diluted Earnings per Share	$0.29	$0.37	$0.37	$0.23	$0.30	$0.37	$0.45	$0.91	$0.34	$0.54	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	637.30M	626.40M	625.04M	629.12M	619.59M	610.06M	436M	441M	411M	400M	394M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.23	$0.00	$0.00	$0.00	$0.91	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	621.07M	616.57M	614.26M	605.29M	608.19M	592.16M	421.16M	401.64M	397.07M	387.78M	383.10M
Normalized Net Operating Profit after Tax (NOPAT)	229	284	290	72	198	242	179	-60	175	242	307
Normalized NOPAT Margin	3.11%	3.66%	3.74%	1.28%	2.87%	3.50%	2.79%	-1.20%	2.77%	3.70%	4.68%
Pre Tax Income Margin	3.16%	3.50%	3.38%	0.73%	2.38%	3.36%	2.37%	-2.63%	3.04%	4.03%	4.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.73	6.79	5.85	1.19	3.64	5.45	3.78	-1.23	4.14	5.68	5.77
NOPAT to Interest Expense	4.67	6.05	5.38	0.39	3.44	4.95	3.36	-0.75	3.01	4.54	5.35
EBIT Less CapEx to Interest Expense	3.88	2.81	2.94	-1.06	0.86	2.51	1.22	-2.19	2.21	3.79	3.89
NOPAT Less CapEx to Interest Expense	2.81	2.07	2.47	-1.86	0.66	2.01	0.80	-1.72	1.08	2.66	3.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	75.89%	54.03%	47.44%	34.75%	33.65%	48.48%	68.01%	104.26%	132.82%	157.90%	145.90%

Frequently Asked Questions About Flex's Financials

When does Flex's financial year end?

According to the most recent income statement we have on file, Flex's fiscal year ends in March. Their fiscal year 2024 ended on March 31, 2024.

How has Flex's net income changed over the last 9 years?

Flex's net income appears to be on an upward trend, with a most recent value of $1.25 billion in 2024, rising from $600.80 million in 2015. The previous period was $1.03 billion in 2023.

What is Flex's operating income?

Flex's total operating income in 2024 was $853 million, based on the following breakdown:

Total Gross Profit: $1.87 billion
Total Operating Expenses: $1.01 billion

How has Flex revenue changed over the last 9 years?

Over the last 9 years, Flex's total revenue changed from $26.15 billion in 2015 to $26.42 billion in 2024, a change of 1.0%.

How much debt does Flex have?

Flex's total liabilities were at $12.93 billion at the end of 2024, a 17.6% decrease from 2023, and a 39.7% increase since 2015.

How much cash does Flex have?

In the past 9 years, Flex's cash and equivalents has ranged from $1.47 billion in 2018 to $3.16 billion in 2023, and is currently $2.47 billion as of their latest financial filing in 2024.

How has Flex's book value per share changed over the last 9 years?

Over the last 9 years, Flex's book value per share changed from 4.12 in 2015 to 12.64 in 2024, a change of 206.5%.

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This page (NASDAQ:FLEX) was last updated on 4/14/2025 by MarketBeat.com Staff

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Flex (FLEX) Financials

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Flex (FLEX) Financials

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