Plexus (PLXS) AI Stock Analysis

• Market Cap: $3.70B
• Dividend Yield: N/A
• Average Volume (3M): 188.35K
• Price to Earnings (P/E): 23.3
• Beta (1Y): 1.06
• Revenue Growth: 2.31%
• EPS Growth: 48.63%
• Country: US
• Employees: 20,000
• Sector: Technology
• Sector Strength: 87
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 1.90
• Shares Outstanding: 26,986,727
• 10 Day Avg. Volume: 123,290
• 30 Day Avg. Volume: 188,353
• 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: 0.99
• Enterprise Value/Revenue: 0.91
• Enterprise Value/Gross Profit: 8.97
• Enterprise Value/Ebitda: 14.23
• 1Y Price Target: $154.60
• Price Target Upside: 12.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 76 Outperform
• Price Target: $155.00 ▲(13.13% Upside)

Plexus receives a strong overall score driven by robust financial performance and positive earnings call highlights. The company's strategic investments and operational efficiency are key strengths. Technical analysis and valuation present moderate support, with the stock showing short-term bullish momentum but facing valuation challenges. The absence of a dividend yield is a minor drawback.

Positive Factors

Cash Flow

Free cash flow was better-than-expected and PLXS is on track to generate strong free cash flow in FQ4.

Financial Performance

Plexus delivered better-than-expected F3Q25 results, with in-line sales and a notable EPS beat, mainly benefited by lower interest expense and a favorable tax adjustment.

Market Share

PLXS continues to take share, and demand remains strong with new wins with three top semi-cap customers in the quarter, which is expected to support continued outperformance vs the broader industry growth.

Negative Factors

Industrial and Aerospace Markets

End-market recovery tied to industrial and aerospace has not yet materially catalyzed.

Revenue Guidance

FQ4 revenue at the midpoint of the range is expected to be down 0.5% year-over-year vs. Street +3%.

Plexus Business Overview & Revenue Model

Company Description

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors. Plexus Corp. was founded in 1979 and is headquartered in Neenah, Wisconsin.

How the Company Makes Money

Plexus generates revenue through a combination of contract manufacturing services, engineering services, and product development. The company's primary revenue streams include the manufacturing of electronic assemblies and systems for original equipment manufacturers (OEMs), which account for a significant portion of its earnings. Plexus also earns money by providing design and engineering services that help clients optimize product performance and manufacturability. Key partnerships with major technology companies and consistent investments in advanced manufacturing technologies enhance its competitive position and contribute to its revenue growth. Additionally, Plexus benefits from long-term contracts and relationships with clients that ensure a steady stream of business, particularly in the high-growth sectors of healthcare and industrial automation.

Plexus Financial Statement Overview

Summary

Plexus demonstrates strong financial health with stable revenue growth, efficient profitability metrics, low leverage, and excellent cash flow generation. The company is well-positioned in its industry, but should monitor the slight decline in free cash flow to ensure sustained financial performance.

Income Statement

Plexus demonstrates robust revenue levels with a slight growth in revenue of 0.17% in the TTM period compared to the previous year, indicating stability. The company maintains a healthy gross profit margin of 10.1% and a net profit margin of 3.6%, reflecting efficient cost management and profitability. The EBIT margin stands at 5.0%, and the EBITDA margin is 5.9%, showing strong operational efficiency.

Balance Sheet

The balance sheet shows a strong equity position with an equity ratio of 43.8%, suggesting financial stability. The debt-to-equity ratio is 0.19, indicating low leverage which reduces financial risk. Return on Equity for the TTM is 10.6%, reflecting efficient use of equity to generate profits.

Cash Flow

Plexus exhibits solid cash flow performance with a significant operating cash flow to net income ratio of 2.84, indicating strong cash-generating capabilities. The free cash flow to net income ratio is 2.35, further emphasizing robust cash flow generation. However, the free cash flow growth rate is slightly negative, showing a minor decline from the previous period.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.03B	3.96B	4.21B	3.81B	3.37B	3.39B
Gross Profit	409.64M	378.53M	394.55M	347.23M	323.30M	312.71M
EBITDA	258.33M	236.25M	288.55M	243.08M	240.28M	216.17M
Net Income	162.68M	111.81M	139.09M	138.24M	138.91M	117.48M
Balance Sheet
Total Assets	3.11B	3.15B	3.32B	3.39B	2.46B	2.29B
Cash, Cash Equivalents and Short-Term Investments	237.57M	345.11M	256.23M	274.81M	270.17M	385.81M
Total Debt	174.09M	279.59M	469.61M	495.38M	291.32M	371.58M
Total Liabilities	1.69B	1.83B	2.11B	2.30B	1.43B	1.31B
Stockholders Equity	1.42B	1.32B	1.21B	1.10B	1.03B	977.48M
Cash Flow
Free Cash Flow	237.43M	341.32M	61.77M	-127.85M	85.48M	160.28M
Operating Cash Flow	310.46M	436.50M	165.82M	-26.24M	142.58M	210.37M
Investing Cash Flow	-72.96M	-94.95M	-93.30M	-101.56M	-56.97M	-49.85M
Financing Cash Flow	-199.38M	-255.59M	-92.72M	139.29M	-203.88M	-1.46M

Plexus Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 137.01
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLXS, the sentiment is Positive. The current price of 137.01 is above the 20-day moving average (MA) of 132.71, above the 50-day MA of 132.94, and below the 200-day MA of 138.74, indicating a neutral trend. The MACD of 1.79 indicates Negative momentum. The RSI at 56.97 is Neutral, neither overbought nor oversold. The STOCH value of 91.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLXS.

Plexus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SANM	80 Outperform	$6.26B	25.16	11.58%	―	5.87%	20.66%
TTMI	79 Outperform	$4.60B	50.02	5.89%	―	14.24%	424.78%
PLXS	76 Outperform	$3.70B	23.31	12.12%	―	2.31%	48.63%
LFUS	74 Outperform	$6.44B	54.16	4.74%	1.10%	1.34%	-38.02%
OSIS	72 Outperform	$3.87B	26.45	16.49%	―	11.33%	18.47%
BHE	69 Neutral	$1.46B	38.71	3.49%	1.68%	-5.95%	-43.46%
Sector *	61 Neutral	$35.48B	7.63	-10.11%	1.88%	8.73%	-9.23%

Plexus Corporate Events

Plexus Announces New $100 Million Share Buyback

On May 14, 2025, Plexus Corp.’s Board of Directors approved a new share repurchase program, authorizing the buyback of up to $100 million of its common stock. This will commence after the current $50 million program, which has a remaining balance of $17.9 million as of May 13, 2025, expires. The company has not set a specific schedule for repurchases, indicating flexibility in timing and amount based on market conditions and other factors.

The most recent analyst rating on (PLXS) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on Plexus stock, see the PLXS Stock Forecast page.