CLS·Electronic Manufacturing Services (EMS) / Electronic Equipment & Instruments

Celestica

ConvictionStrong

Contract manufacturing + design/systems integration: builds and integrates hardware (networking switches, AI/ML compute servers, storage, plus industrial/aerospace/healthtech products) for OEMs and hyperscalers. Two segments: Connectivity & Cloud Solutions (CCS, includes the higher-value Hardware Platform Solutions / HPS business) and Advanced Technology Solutions (ATS: aerospace & defense, industrial, healthtech, capital equipment).

Revenue

$12.39BFY2025); $4.05B (Q1 2026

Rev growth

+28% FY2025 YoY+53% Q1 2026 YoY

Gross margin

~11% non-GAAPFY2025 adj gross margin 11.4%; Q1 2026 11.3%; EMS-typical low gross margin

Op margin

~8% adjustedFY2025 7.5%; Q1 2026 8.0%; FY2026 guide 8.1%

Capex intensity

Low~1-2% of revenue (asset-light EMS model

Market cap

~$38.8BNYSE: CLS, ~$338.50/sh, early July 2026; dual-listed on TSX as CLS

Primary source

Reported financials — SEC EDGAR

Audited GAAP figures pulled from SEC filings · latest filing 2026-02-27. The audited primary-source spine — not financial advice.

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Revenue — annual (GAAP)

FY’24

$9.6B

FY’25

$12.4B+28%

Margins & balance sheet — FY’25

Gross margin12.1%

Operating margin8.4%

Net margin6.7%

Net cash$378M

The read

Where our coverage leans

Coverage leans bullish

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Full financial intelligence for Celestica

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

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