Flex Ltd. income statement
In fiscal 2026, Flex Ltd. reported revenue of $27.91bn, up 8.1% on the year before, operating income of $1.37bn (a 4.9% margin) and net income of $880m, or $2.33 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2010Mar 2010 | 2011Mar 2011 | 2012Mar 2012 | 2013Mar 2013 | 2014Mar 2014 | 2015Mar 2015 | 2016Mar 2016 | 2017Mar 2017 | 2018Mar 2018 | 2019Mar 2019 | 2020Mar 2020 | 2021Mar 2021 | 2022Mar 2022 | 2023Mar 2023 | 2024Mar 2024 | 2025Mar 2025 | 2026Mar 2026 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 24.1 | 28.7 | 29.3 | 23.6 | 26.1 | 26.1 | 24.4 | 23.9 | 25.4 | 26.2 | 24.2 | 24.1 | 24.6 | 28.5 | 26.4 | 25.8 | 27.9 | 31.0 |
| Cost of revenue | 22.8 | 27.1 | 27.8 | 22.2 | 24.6 | 24.6 | 22.8 | 22.3 | 23.8 | 24.6 | 22.7 | 22.3 | 22.8 | 26.5 | 24.4 | 23.6 | 25.3 | 28.0 |
| Gross profit | 1.2 | 1.6 | 1.5 | 1.2 | 1.4 | 1.5 | 1.6 | 1.5 | 1.6 | 1.5 | 1.3 | 1.7 | 1.8 | 2.0 | 1.9 | 2.2 | 2.6 | 2.9 |
| Research and development | 0.0 | 0.0 | 0.1 | — | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | — | — | — | — | — | — | — | — | — |
| Selling, general and administrative | 0.8 | 0.8 | 0.9 | 0.8 | 0.9 | 0.8 | 1.0 | 0.9 | 1.0 | 1.0 | 0.8 | 0.8 | 0.8 | 0.9 | 0.9 | 0.9 | 1.1 | 1.3 |
| Operating income | — | — | — | — | — | — | — | — | — | — | 0.4 | 0.8 | 0.9 | 1.0 | 0.9 | 1.2 | 1.4 | 1.6 |
| Interest expense | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Net interest income | — | — | — | — | — | — | — | — | — | — | — | −0.1 | −0.2 | −0.2 | — | — | — | — |
| Income before tax | −0.0 | 0.6 | 0.6 | 0.3 | 0.4 | 0.7 | 0.5 | 0.4 | 0.5 | 0.2 | 0.2 | 0.7 | 1.0 | 0.8 | 0.7 | 1.0 | 1.1 | — |
| Income tax | −0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | −0.2 | 0.2 | 0.3 | 0.3 |
| Net income | 0.0 | 0.6 | 0.5 | 0.3 | 0.4 | 0.6 | 0.4 | 0.3 | 0.4 | 0.1 | 0.1 | 0.6 | 0.9 | 0.8 | 1.0 | 0.8 | 0.9 | 1.0 |
| Diluted EPS | $0.02 | $0.75 | $0.67 | $0.41 | $0.59 | $1.02 | $0.79 | $0.59 | $0.80 | $0.18 | $0.17 | $1.21 | $1.94 | $1.72 | $2.28 | $2.11 | $2.33 | $2.77 |
| Diluted shares (average) | 821m | 790m | 728m | 675m | 623m | 592m | 565m | 546m | 537m | 530m | 512m | 506m | 483m | 462m | 441m | 398m | 378m | 375m |
| EBITDA | — | — | — | — | — | — | — | — | — | — | 0.8 | 1.2 | 1.3 | 1.4 | 1.3 | 1.6 | 1.8 | 2.0 |
| Quarter | 2025 Q3Dec 2024 | 2025 Q4Mar 2025 | 2026 Q1Jun 2025 | 2026 Q2Sept 2025 | 2026 Q3Dec 2025 | 2026 Q4Mar 2026 | 2027 Q1Jun 2026 | 2027 Q2Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,556 | 6,398 | 6,575 | 6,804 | 7,058 | 7,477 | 7,928 | 8,491 |
| Cost of revenue | 5,952 | 5,807 | 5,987 | 6,181 | 6,373 | 6,747 | 7,177 | 7,664 |
| Gross profit | 594 | 563 | 572 | 614 | 679 | 702 | 747 | 812 |
| Selling, general and administrative | 241 | 234 | 233 | 260 | 270 | 289 | 334 | 371 |
| Operating income | 334 | 305 | 311 | 296 | 389 | 372 | 392 | 414 |
| Interest expense | 57 | 52 | 51 | 52 | 58 | 54 | 60 | 69 |
| Income before tax | 288 | 279 | 246 | 262 | — | — | — | — |
| Income tax | 25 | 57 | 54 | 63 | 81 | 65 | 92 | 107 |
| Net income | 263 | 222 | 192 | 199 | 239 | 250 | 285 | 263 |
| Diluted EPS | $0.67 | $0.57 | $0.50 | $0.52 | $0.64 | $0.67 | $0.76 | $0.70 |
| EBITDA | 444 | 343 | 453 | 410 | 502 | 396 | 532 | 540 |
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