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Bingex Ltd (FLX) stock

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NASDAQ: FLX Nasdaq Air Freight & Logistics Next results ~November 19, 2026

C Fundamentals grade

Bingex Ltd is a US-listed company in the air freight & logistics industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Bingex Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds11 adding, 9 cuttingOf 6 active managers that changed their stake, 2 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Bingex files

Where Bingex stands after its latest Filing

Revenue for the twelve months was $555m. That puts it 19 of 21 for growth among the air freight & logistics companies we cover. Free-cash-flow margin held at 2.5%. The diluted share count is up 101.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks.

Our model value for Bingex is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Bingex Ltd's trailing-twelve-month revenue fell 10.6% year on year, with a free-cash-flow margin of 2.5%. Where it stands out: days sales outstanding of 3 days ranks 1 of 16 air freight & logistics companies we cover. Where it lags: revenue growth of -10.6% ranks 19 of 21 air freight & logistics companies we cover.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -10.6% (-7.6pp vs the prior quarter), the 2nd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 10.6% over the last 12 months.
  • Growth slowing. The growth rate is 7.6 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 101.1% in a year.

Price chart

  • 1 day+4.8%
  • 1 week+2.7%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$555M
Operating margin
1.2%
Net margin
2.7%
EPS (TTM, diluted)
$0.22

Growth

Revenue growth
−10.6%
Change in growth rate
−7.6 pts
Share count change
+101.1%

Cash

Free cash flow (TTM)
$13.8M
FCF margin
2.5%
Stock pay % of revenue
1.2%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for FLX from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Bingex Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Bingex Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.02 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$3.7 ~$3.7–$4.1 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$1.3 ~$2.9–$5.1 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$1.8 ~$1.5–$7.0 Included, half weight
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Bingex Ltd with Air Freight & Logistics in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 19, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Bingex Ltd: too few analysts cover it.

Positioning

Short interest
—
of tradable shares
Days to cover
0.34
at average volume
Short interest, 1 month
−48%
to October 15, 2026
Held by institutions
14%
of shares
Held by insiders
5.3%
of shares
Employees
807
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Bingex Ltd in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Bingex Ltd
$550M $600M $650M FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Revenue (TTM), FY22 Q4: $596.1M Revenue (TTM), FY23 Q4: $640M Revenue (TTM), FY24 Q4: $621M Revenue (TTM), FY25 Q4: $555.5M $555.5M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY22 Q4 $596.1M
FY23 Q4 $640M
FY24 Q4 $621M
FY25 Q4 $555.5M
Operating margin (TTM) Bingex Ltd
-6% -4% -2% 0% 2% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 Operating margin (TTM), FY22 Q4: -5.1% Operating margin (TTM), FY23 Q4: 0.2% Operating margin (TTM), FY24 Q4: -0.6% Operating margin (TTM), FY25 Q4: 1.2% 1.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY22 Q4 -5.1%
FY23 Q4 0.2%
FY24 Q4 -0.6%
FY25 Q4 1.2%
FCF margin (TTM) Bingex Ltd
-4% -2% 0% 2% 4% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FCF margin (TTM), FY22 Q4: -2.3% FCF margin (TTM), FY23 Q4: 0.9% FCF margin (TTM), FY24 Q4: 0.0% FCF margin (TTM), FY25 Q4: 2.5% 2.5%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY22 Q4 -2.3%
FY23 Q4 0.9%
FY24 Q4 0.0%
FY25 Q4 2.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 596 640 621 555
Gross profit 39 56 68 65
EBITDA −29 2 −3 7
Operating income −30 2 −4 6
Net income −27 16 −20 15
Diluted EPS — — — $0.22
Growth (year on year)
Revenue — +7.4% −3.0% −10.6%
Net income — — −230.4% —
Margins
Gross margin 6.5% 8.7% 11.0% 11.8%
EBITDA margin −4.9% 0.3% −0.5% 1.2%
Operating margin −5.1% 0.2% −0.6% 1.2%
Net margin −4.5% 2.4% −3.3% 2.7%
Free-cash-flow margin −2.3% 0.9% 0.0% 2.5%
Cash flow
Cash from operations −13 6 0 14
Capital spending 1 0 0 0
Free cash flow −13 6 0 14
Stock-based pay — — 22 6
Free cash flow after stock pay — — −22 7
Balance sheet
Cash 90 99 81 80
Total debt 0 0 0 0
Net debt (negative = net cash) −90 −99 −81 −80
Diluted shares 48m 48m 69m 70m
Returned to shareholders
Buybacks — — — 8
Total returned — — — 8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · December 31, 2025
What it owns · $184m
Short-term assets $148mLonger-term assets $36m
What it owes, and who funded it · $184m
Short-term liabilities $63mLonger-term liabilities $2mShareholders' equity $119m
  • Short-term assets cover short-term liabilities $148m of assets due within a year against $63m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $148m short-term assets against $2m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bingex Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$7.6M
Returned to shareholders
55%
of free cash flow
Diluted share count
+101.1%
year over year
R&D spending
2.1%
of revenue
Days sales outstanding
3 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in air freight & logistics
Last 12 months unless stated FLX AIRT RLGT BTOC CAAP FWRD Median
Revenue, last 12 months $555m $372m $934m $186m $2.0bn $2.5bn $555m
Revenue growth, last 12 months −10.6% 25.4% 3.5% −2.4% 6.4% −0.1% 6.4%
Revenue growth, 3-year average — 11.5% −4.9% — — 18.1% 2.5%
Revenue growth, latest quarter — 62.9% 18.5% −15.3% — 8.8% 15.2%
Gross margin 11.8% — 26.5% 0.2% 35.2% 51.8% 10.9%
Operating margin 1.2% −6.7% 2.6% −11.6% 24.9% −6.7% −0.8%
Operating margin, 3-year average — −1.9% 2.0% −5.3% 16.4% −21.1% 2.0%
Net margin 2.7% 17.2% 2.0% −11.2% 12.6% −11.4% 1.0%
Cash from operations / revenue 2.5% −7.2% 1.9% −2.8% 23.7% 2.8% 1.0%
Free-cash-flow margin 2.5% −17.3% 1.4% −3.8% 22.8% 1.9% 1.0%
Free-cash-flow margin, 3-year average — −1.9% 1.1% −1.9% 10.9% −0.3% 1.5%
Stock pay / revenue 1.2% −0.0% 0.2% — 0.1% 0.4% 0.5%
Change in share count 101.1% −1.3% −0.2% 6.9% 0.8% 7.2% 0.8%

Median of all 21 companies we cover in air freight & logistics. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 air freight & logistics companies
Measure Company Peer median Rank
Revenue growth Growth -10.6% 6.4% 19 of 21
Change in growth rate Growth -7.6pp +2.4pp 19 of 21
Gross margin Profitability 11.8% 4.7% 3 of 11
Operating margin Profitability 1.2% -0.8% 10 of 21
Net margin Profitability 2.7% 1.0% 9 of 21
Free-cash-flow margin Cash generation 2.5% 1.0% 7 of 21
Stock pay as % of revenue Cash generation 1.2% 0.5% 12 of 18
Change in share count Balance sheet 101.1% 0.9% 17 of 20
Days sales outstanding Balance sheet 3 days 55 days 1 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$15.1M
Institutions reporting
19
Shares held vs prior quarter
▲ 0.7%
Positions opened / closed
6 / 4

Top buyers and sellers, Q2 2026: 11 institutions bought and 9 sold ; the biggest buyer was SG Americas Securities, LLC (+81K shares) and the biggest seller Jane Street Group, LLC (−68K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Susquehanna International Group, LLP $13.8M 6.5M 91.6% 0.0%
Marshall Wace, LLP $222,044 104K 1.5% ▲ 41.4%
SG Americas Securities, LLC $172,000 81K 1.1% New
Millennium Management LLC $151,669 71K 1.0% New
Goldman Sachs Group Inc $139,085 65K 0.9% ▲ 3.7%
Dimensional Fund Advisors LP $93,475 44K 0.6% ▲ 77.4%
Renaissance Technologies LLC $87,341 41K 0.6% ▼ 47.0%
Citadel Advisors LLC $82,915 39K 0.5% ▼ 60.8%
UBS Group AG $67,354 32K 0.4% ▲ 33540.4%
Centiva Capital, LP $63,736 30K 0.4% ▼ 10.6%
Xtx Topco Ltd $56,390 26K 0.4% ▼ 13.9%
Invesco Ltd. $54,400 26K 0.4% ▼ 8.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Bingex Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Bingex Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Bingex Ltd in brief

What does Bingex Ltd do?
Bingex Ltd is a US-listed company in the air freight & logistics industry. Its financial year ends in December.
What is Bingex Ltd's stock ticker?
Bingex Ltd trades under the ticker FLX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Bingex Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Bingex Ltd reported revenue of $555M, 10.6% lower than a year earlier, according to its SEC filings.
What is Bingex Ltd's free cash flow?
Bingex Ltd's free-cash-flow margin is 2.5% of revenue over the trailing twelve months, ranking 7 of the 21 air freight & logistics companies we cover.
Who are Bingex Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Susquehanna International Group, LLP, Marshall Wace, LLP and SG Americas Securities, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Bingex Ltd buying back stock, and does it pay a dividend?
Bingex Ltd spent $7.6M on share repurchases over the trailing twelve months, and its diluted share count still rose 101.1% over the year.
Who are Bingex Ltd's competitors?
In our Air Freight & Logistics peer group, the companies closest to Bingex Ltd are AIR T Inc, Radiant Logistics, Inc, Armlogi Holding Corp., Corporacion America Airports S.a. and Forward AIR Corp. The side-by-side comparison below sets their revenue, margins and growth against Bingex Ltd's.
When is Bingex Ltd's next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Bingex Ltd announces its own schedule.