Flex (FLEX) AI Stock Analysis

• Market Cap: $23.39B
• Dividend Yield: N/A
• Average Volume (3M): 3.51M
• Price to Earnings (P/E): 26.9
• Beta (1Y): 1.60
• Revenue Growth: -3.63%
• EPS Growth: 2.26%
• Country: US
• Employees: 148,115
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.72
• Shares Outstanding: 375,324,830
• 10 Day Avg. Volume: 3,224,181
• 30 Day Avg. Volume: 3,513,295
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 0.81
• Enterprise Value/Gross Profit: 9.31
• Enterprise Value/Ebitda: 12.41
• 1Y Price Target: $60.33
• Price Target Upside: -1.63% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 77 Outperform
• Price Target: $71.00 ▲(15.77% Upside)

Flex's overall stock score is driven by strong financial performance and positive earnings call highlights, particularly in the data center segment. Technical indicators support a bullish outlook, although the valuation suggests the stock is priced for growth. Challenges in certain market segments and tariff impacts are noted but are being managed effectively.

Positive Factors

Data Center Growth

The strong growth in the data center segment indicates a robust demand for Flex's services in this high-growth area, supporting long-term revenue expansion and market leadership in a critical sector.

Operational Efficiency

Effective cash generation and operational efficiency provide Flex with the financial flexibility to invest in growth opportunities and weather economic fluctuations, ensuring sustainable long-term operations.

Strategic Capacity Expansion

Expanding manufacturing capacity in Europe strengthens Flex's competitive position in the data center market, enhancing its ability to meet growing demand and improve service delivery.

Negative Factors

Revenue Growth Fluctuations

Inconsistent revenue growth may indicate challenges in market demand or competitive pressures, potentially impacting long-term growth prospects and financial stability.

Reliability Solutions Revenue Decline

Declining revenue in Reliability Solutions suggests vulnerability to macroeconomic factors, which could hinder growth and profitability in key sectors over time.

Impact of Tariffs

Tariff impacts could pressure margins and profitability, posing a risk to Flex's cost structure and competitive pricing in the global market.

Flex Business Overview & Revenue Model

Company Description

Flex (FLEX) is a global leader in supply chain solutions and manufacturing services, specializing in providing innovative and flexible manufacturing and logistics solutions across various sectors, including automotive, healthcare, consumer electronics, and industrial. The company focuses on delivering a wide array of services, including product design, engineering, manufacturing, and supply chain management, aimed at optimizing efficiency and reducing costs for its clients.

How the Company Makes Money

Flex generates revenue primarily through its contract manufacturing services, where it partners with clients to produce electronic components and systems. Key revenue streams include the assembly of printed circuit boards (PCBs), the manufacture of complex electronic devices, and supply chain management solutions. The company also earns income from engineering services, which include design and prototyping for new products. Significant partnerships with major industry players in sectors like automotive and consumer electronics contribute to its earnings, as does its ability to leverage global manufacturing capabilities to meet diverse client needs.

Flex Financial Statement Overview

Summary

Flex displays strong operational efficiency and cash flow generation, positioning it well within the hardware industry. While the income statement reflects stable profitability and prudent cost management, revenue growth fluctuations warrant attention. The balance sheet indicates strong leverage management but could benefit from improved equity ratios. Overall, Flex is financially stable with opportunities for growth.

Income Statement

Flex shows a strong gross profit margin of 8.67% for the TTM, indicating efficient production and cost management. The net profit margin is 3.42%, which is modest but stable. Revenue growth has been inconsistent, with a recent decline compared to previous years, suggesting potential market challenges. However, the EBIT margin of 4.78% and EBITDA margin of 6.00% reflect solid operational efficiency.

Balance Sheet

Flex maintains a healthy debt-to-equity ratio of 0.25, indicating prudent financial leverage. The return on equity (ROE) stands at 17.51% for the TTM, showcasing effective use of shareholder funds. The equity ratio of 26.60% suggests a balanced approach between equity and liabilities, although there is room for improvement in equity strengthening.

Cash Flow

Flex's cash flow statement highlights robust free cash flow growth and a strong operating cash flow to net income ratio of 1.75, demonstrating effective cash generation and operational efficiency. The free cash flow to net income ratio of 1.24 further supports their capacity to generate cash beyond earnings, positioning Flex well for future investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.07B	25.81B	26.41B	28.50B	24.63B	24.12B
Gross Profit	2.26B	2.16B	1.86B	1.98B	1.78B	1.69B
EBITDA	1.70B	1.78B	1.32B	1.54B	1.61B	1.43B
Net Income	891.00M	838.00M	1.01B	793.00M	936.00M	613.00M
Balance Sheet
Total Assets	19.13B	18.38B	18.26B	21.41B	19.32B	15.84B
Cash, Cash Equivalents and Short-Term Investments	2.24B	2.29B	2.47B	3.16B	2.96B	2.64B
Total Debt	4.26B	4.15B	3.75B	4.20B	4.75B	4.34B
Total Liabilities	14.04B	13.38B	12.93B	15.70B	15.12B	12.40B
Stockholders Equity	5.09B	5.00B	5.33B	5.35B	4.13B	3.44B
Cash Flow
Free Cash Flow	1.10B	1.07B	796.00M	315.00M	581.00M	-207.00M
Operating Cash Flow	1.56B	1.50B	1.33B	950.00M	1.02B	144.00M
Investing Cash Flow	-935.00M	-838.00M	-492.00M	-604.00M	-951.00M	-202.00M
Financing Cash Flow	-636.00M	-821.00M	-1.66B	2.00M	280.00M	743.00M

Flex Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 61.33
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLEX, the sentiment is Positive. The current price of 61.33 is above the 20-day moving average (MA) of 59.09, above the 50-day MA of 56.22, and above the 200-day MA of 45.12, indicating a bullish trend. The MACD of 1.73 indicates Negative momentum. The RSI at 62.03 is Neutral, neither overbought nor oversold. The STOCH value of 76.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FLEX.

Flex Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SANM	79 Outperform	$7.07B	27.77	11.58%	―	5.87%	20.66%
PLXS	78 Outperform	$4.08B	25.58	12.12%	―	2.31%	48.63%
FTV	77 Outperform	$16.67B	22.24	7.36%	0.56%	-0.12%	-11.27%
FLEX	77 Outperform	$23.39B	26.93	17.67%	―	-3.63%	2.26%
TRMB	68 Neutral	$18.95B	67.54	5.06%	―	-3.72%	-80.83%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
JBL	58 Neutral	$21.80B	34.44	40.43%	0.16%	3.18%	-46.01%

Flex Corporate Events

Flex Files Prospectus Supplement with SEC

On September 4, 2025, Flex Ltd. filed a prospectus supplement to its automatic shelf registration statement with the Securities and Exchange Commission. This filing was made to include the legal opinion of Allen & Gledhill LLP regarding the legality of the shares covered by the prospectus.

The most recent analyst rating on (FLEX) stock is a Buy with a $58.00 price target. To see the full list of analyst forecasts on Flex stock, see the FLEX Stock Forecast page.

Flex Enters Agreement with Amazon for Equity Warrants

On August 15, 2025, Flex Ltd. entered into a Transaction Agreement with Amazon.com, Inc., issuing a warrant to Amazon’s subsidiary to purchase up to 3,859,851 ordinary shares at $51.29 per share, expiring in 2030. This agreement, which includes conditions for vesting and potential extension, aims to strengthen the commercial relationship between Flex and Amazon, though it does not grant voting rights or shareholder rights to the warrantholder until exercised.

The most recent analyst rating on (FLEX) stock is a Buy with a $49.00 price target. To see the full list of analyst forecasts on Flex stock, see the FLEX Stock Forecast page.

Flex Approves Share Repurchase Plan at AGM

On August 6, 2025, Flex Ltd. held its 2024 Annual General Meeting, where shareholders re-elected nine directors, re-appointed Deloitte & Touche LLP as auditors for the 2026 fiscal year, and approved executive compensation and share issuance authorizations. Additionally, shareholders approved a mandate allowing Flex to repurchase up to 20% of its outstanding shares, with the Board authorizing a share repurchase plan up to $1.7 billion, subject to market conditions and legal requirements.

The most recent analyst rating on (FLEX) stock is a Buy with a $49.00 price target. To see the full list of analyst forecasts on Flex stock, see the FLEX Stock Forecast page.

Flex Ltd Reports Strong Start to Fiscal 2026

Flex Ltd, a global leader in manufacturing solutions, operates across diverse industries, offering technology innovation, supply chain, and manufacturing services. In its first quarter of fiscal 2026, Flex reported net sales of $6.6 billion, with a GAAP net income of $192 million and adjusted net income of $274 million. The company achieved a GAAP operating income of $311 million and an adjusted operating income of $395 million, reflecting a strong start to the fiscal year. Key financial metrics included GAAP earnings per share of $0.50 and adjusted earnings per share of $0.72, highlighting the company’s robust performance in high-growth markets like data centers and power. Flex’s strategic focus and recent acquisitions have positioned it as a key end-to-end partner in its industry. Looking ahead, Flex’s management remains optimistic, projecting second-quarter revenues between $6.5 billion and $6.8 billion, with adjusted EPS expected to range from $0.70 to $0.78, underscoring their confidence in continued growth and market leadership.

Flex Ltd’s Earnings Call Highlights Record Growth

Flex Ltd’s recent earnings call highlighted a robust financial performance, showcasing record revenue and earnings per share (EPS), primarily driven by substantial growth in the data center segment. The company is making strategic investments in capacity and technology to maintain this upward trajectory. However, it faces challenges in the automotive, renewables, telecom, and consumer markets, with some financial impacts from tariffs and interest expenses.