Flex
ConvictionModerate
Contract design + manufacturing + supply-chain services across two reporting segments — Flex Agility Solutions (Communications/Enterprise/Cloud, Lifestyle, Consumer Devices) and Flex Reliability Solutions (Automotive, Health Solutions, Industrial). Revenue is largely pass-through of customer-specified builds at thin gross margins; profit leverage comes from higher-value proprietary power/thermal products, design engagement, and vertical integration (racks, power shelves, liquid cooling).
Revenue
$27.9BFY2026, ended Mar 2026, +8% YoYRev growth
+8% FY2026guided +18% at midpoint for FY2027 ($32.3-33.8BGross margin
~8.5%est.; EMS-typical thin gross margin, not separately headlined in releaseOp margin
4.9% GAAP / 6.3% adjustedFY2026, a record adjusted margin); guided 7.0-7.1% adjusted FY2027Capex intensity
~1.5-2% of salesest.; asset-light EMS profile — exact FY2026 capex not broken out hereMarket cap
~$50-54BNasdaq: FLEX, early Jul 2026; ~366M shares out; added to S&P 500 effective June 22, 2026The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Flex
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (figures reflect fiscal 2026 ended March 31, 2026; FY2027 guidance issued May 2026; market cap/price early July 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence