Flex (FLEX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Flex

NasdaqGS•Technology•Electronic Components

$111.21+3.21(0.03%)Market open

Market Cap

$39.71B

P/E

40.8x

P/S

1.4x

P/B

7.2x

Flex Ltd. provides technology innovation, supply chain, and manufacturing solutions to data center, communications, enterprise, consumer, automotive, healthcare, industrial, and power industries in the Americas, Asia, and Europe. The company operates through three segments: Integrated Technology Solutions (ITS), Regulated Manufacturing Solutions (RMS), and Cloud and Power Infrastructure (CPI). The ITS segment offers flexible supply and manufacturing solutions for communications, including high speed networking, enterprise, and satellite communications systems, as well as lifestyle solutions comprising products across commercial, home, and personal product categories. Its RMS segment includes industrial products, such as mission critical automation, energy, and industrial infrastructure; automotive products, including compute and power electronics platforms and integrated systems; and healthcare products comprising regulated manufacturing for medical devices, drug delivery, and equipment. The CPI segment provides cloud and cooling products, such as integrated compute systems supporting power dense digital infrastructure deployments and advanced liquid cooling solutions supporting higher density, power intensive rack architectures; and power products that include utility and facility level electrical infrastructure enabling power delivery and high density rack and board level power systems. The company was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in September 2016. Flex Ltd. was founded in 1969 and is headquartered in Austin, Texas.

How this company scores

GoodMetricSide Score: 60/100

Strongest: Growth (21/25); weakest: Profitability (11/25).

Profitability11/25

Growth21/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality16/25

Strengths

High ROECash-backed earningsConsistent free cash flowConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 40.8x5y range 5.4x – 40.8x

Currently above its 20-quarter median.

P/S · 1.4x5y range 0.2x – 1.4x

Currently above its 20-quarter median.

P/B · 7.2x5y range 1.2x – 7.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Leverage Risk

Watch

Debt-to-equity has risen 60.8% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $39.71B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $29.27B
Q. Revenue: $7.93B
TTM EBITDA: $1.90B
TTM Op. Income: $1.45B
Q. Op. Income: $392.00M
TTM Net Income: $973.00M
Q. Net Income: $285.00M
EPS: $0.78
Shares Out.: $366.00M

$29.27B in TTM revenue grew 12.2% YoY, reaching $7.93B last quarter. TTM EBITDA of $1.90B and TTM operating income of $1.45B show growth is flowing through to the bottom line. TTM net income of $973.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 9.4%
EBITDA Margin: 6.7%
Op. Margin: 4.9%
Net Margin: 3.6%

Op. margin of 4.9% is up 0.2% YoY — cost efficiency is improving. Net margin at 3.6% and gross margin of 9.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 40.8x
P/S Ratio: 1.4x
P/B Ratio: 7.2x

At 40.8x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 1.4x and P/B of 7.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 94% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $25.20B
Cash: $2.84B
Long-Term Debt: $5.22B
Book Value: $5.50B
D/E Ratio: 0.9
Debt/EBITDA: 9.8

With $25.20B in assets and $5.22B in long-term debt, D/E is 0.9and book value is $5.50B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 61% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $276.00M
TTM Free Cash Flow: $826.00M
FCF Margin: 2.8%
FCF / Net Income: 0.8

TTM FCF of $826.00M on $276.00M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.