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Fabrinet (FN) stock

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NYSE: FN NYSE Electronic Manufacturing Services Next results ~February 1, 2027

C+ Fundamentals grade

Fabrinet is a US-listed company in the electronic manufacturing services industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$100

Cash-flow model

Base case. Range ~$83–$130 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 67% below it.

Price used: $314.70, November 2, 2026

Fabrinet 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.

Value diary

Our note on each quarter Fabrinet files

Where Fabrinet stands after its latest 10-K

Revenue for the twelve months to June 2026 was $4.64bn, up 35.7% on a year earlier, faster than 29.8% a quarter earlier. That growth ranks 70 of 931 among all the companies we cover. Free-cash-flow margin fell to 0.1% from 6.1% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $183 a share, against a share price of $359. At that price, our model says the market is pricing in about 25.8% a year of cash-flow growth for five years, faster than the 19.8% a year revenue growth it has delivered.

Source: 10-K filed August 18, 2026 on SEC EDGAR · Financials · Valuation

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 ~February 1, 2027 (estimated)

Fabrinet's trailing-twelve-month revenue grew 43.0% year on year, with a free-cash-flow margin of -3.7%. Where it stands out: long-term debt as % of assets of 1.5% ranks 1 of 10 electronic manufacturing services companies we cover. Where it lags: free-cash-flow margin of -3.7% ranks 12 of 12 electronic manufacturing services companies we cover.

Our discounted-cash-flow model values the business at ~$100 per share in the base case (~$83–$130 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Net income rising while operating cash flow falls: TTM net income grew 36.9% while operating cash flow fell 49.5% — earnings and cash are telling different stories.

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

  • Fast growth. Revenue grew 43.0% over the last 12 months, against a median of 16.5% for electronic manufacturing services companies we cover.
  • Growth speeding up. The growth rate is 7.2 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $314.70 is 26% above our value per share of $230.
  • Burning cash. Free cash flow was -3.7% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 77% and a beta of 3.1 against the S&P 500.
  • Insiders selling. 5 insiders sold $17M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was -40% of net income over the last 12 months.
  • Below peers: days sales outstanding. Days sales outstanding of 83 days ranks 7 of 7 electronic manufacturing services companies we cover (median 68 days).

Latest results: FY2027 Q1

Filed November 3, 2026
Earnings per share
$4.34 against an average estimate of $4.20: beat by 3.4%
Revenue
$1.47bn, up 50.7% on a year earlier
Guidance given
first quarter revenue $1.38bn to $1.43bn (first quarter of fiscal year 2027); GAAP net income per diluted share $3.39 to $3.54 (first quarter of fiscal year 2027)
Next report
November 2, 2026; average EPS estimate $4.43

Fabrinet's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.8%
  • 1 week-3.2%
  • 1 month-32.1%
  • This year-30.9%
  • 1 year-28.6%
  • 5 years+173.1%
  • S&P 500 this year+11.2%

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)
$5.1B
Operating margin
10.0%
Net margin
9.4%
EPS (TTM, diluted)
$13.24

Growth

Revenue growth
+43.0%
Change in growth rate
+7.2 pts
Share count change
+0.3%

Cash

Free cash flow (TTM)
-$192M
FCF margin
-3.7%
Stock pay % of revenue
0.7%

Earnings

Last results
November 2, 2026
Next results (est.)
February 1, 2027

News & updates

Updated November 2, 2026

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

  1. Results
  2. Results
  3. Guidance

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

Fabrinet valuation models and calculator

What the price is pricing in

The share price implies about 41.3% a year of cash-flow growth for five years.That is faster than the 17.8% a year revenue growth Fabrinet has delivered.

  • Priced in41.3%
  • Last 12 months43.0%
  • 3 years a year24.3%
  • 5 years a year17.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($353.48, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$100
Price used
$353.48close November 3, 2026
Implied change
▼ 71%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Fabrinet's free cash flow after stock-based pay with after-tax interest added back ($89.2M, FY2027 Q1 TTM), growing 21.1% and 15.2% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$83–~$130 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Fabrinet's free cash flow after stock-based pay ( $89.2M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Fabrinet as an operating company, with every model that fits that kind of business. Cost of equity 12.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.62 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$100 ~$83–$130 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$150 ~$110–$190 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$310 ~$260–$340 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$140 ~$100–$200 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$110–$130 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$150 ~$100–$310 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Fabrinet with Electronic Manufacturing Services 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.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $54$67$84$107$136$174
8.5% $46$55$67$83$104$131
10% $41$48$57$70$86$106

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$34.97$42.66$36.89$49.67$59.35$95.29$83.21$129.88$244.79$295.62$524.79$314.70
Market value$1.3bn$1.6bn$1.4bn$1.9bn$2.2bn$3.6bn$3.1bn$4.8bn$9.0bn$10.7bn$19.0bn$11.4bn
+ Net debt (− = net cash)−$100m−$72m−$152m−$117m−$162m−$251m−$158m−$207m−$410m−$306m−$347m−$318m
Enterprise value$1.2bn$1.5bn$1.3bn$1.7bn$2.1bn$3.3bn$3.0bn$4.6bn$8.5bn$10.4bn$18.7bn$11.1bn
Multiples
Price / sales 1.3x1.1x1.0x1.2x1.4x1.9x1.4x1.8x3.1x3.1x4.1x2.2x
Price / earnings 20.8x16.6x16.7x15.4x19.7x24.1x15.5x19.3x30.2x32.2x40.2x23.8x
Price / free cash flow 199.2xn/m13.5x14.4x20.6x47.0x89.8x31.5x24.5x51.7xn/m—
EV / EBITDA 13.6x11.9x10.2x11.4x14.0x17.8x12.1x15.5x26.1x27.6x35.2x18.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard Fabrinet's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Net income has been a median 10.3% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 11.9%, moving by 0.5 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Operating margin has been a median 8.7%; its worst year was 6.8%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 5.8% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 3.3% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

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

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $18.25 +30% $6.1bn +32%
Next $21.96 +20% $7.3bn +20%

Next year's EPS estimate has moved +2.6% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +5.8% on 90 days ago. In the last 30 days, 0 analysts raised Fabrinet's forecast and 0 cut it.

Consensus EPS forecast Fabrinet, last 90 days
$16.00 $18.00 $20.00 $22.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $17.25 Current fiscal year, 60 days ago: $18.20 Current fiscal year, 30 days ago: $18.20 Current fiscal year, 7 days ago: $18.23 Current fiscal year, Now: $18.25 $18.25 Next fiscal year, 90 days ago: $21.40 Next fiscal year, 60 days ago: $21.79 Next fiscal year, 30 days ago: $21.79 Next fiscal year, 7 days ago: $21.94 Next fiscal year, Now: $21.96 $21.96

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $17.25$21.40
60 days ago $18.20$21.79
30 days ago $18.20$21.79
7 days ago $18.23$21.94
Now $18.25$21.96

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $4.20 $4.34 +3.4%
Jun 2026 $3.81 $4.10 +7.5%
Mar 2026 $3.56 $3.72 +4.4%
Dec 2025 $3.25 $3.36 +3.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 17, 2026
  • first quarter revenue first quarter of fiscal year 2027 $1.375bn to $1.425bn
    “Fabrinet expects first quarter revenue to be in the range of $1.375 billion to $1.425 billion.” source
  • GAAP net income per diluted share first quarter of fiscal year 2027 $3.39 to $3.54 GAAP
    “GAAP net income per diluted share is expected to be in the range of $3.39 to $3.54, based on approximately 36.3 million fully diluted shares outstanding.” source
  • Non-GAAP net income per diluted share first quarter of fiscal year 2027 $4.10 to $4.25 Non-GAAP
    “Non-GAAP net income per diluted share is expected to be in the range of $4.10 to $4.25, based on approximately 36.3 million fully diluted shares outstanding.” source

How earlier guidance turned out

  • GAAP net income per diluted share, fourth fiscal quarter ending June 26, 2026 guided $3.48 to $3.63 Above range: $3.83
  • fourth quarter revenue, fourth fiscal quarter ending June 26, 2026 guided $1.25bn to $1.29bn Above range: $1.315788bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Fabrinet's revenue by +21.1% next year and +15.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+25.1%, weight 67%) and the company's own record (+13.0%, weight 33%) . How the weights are set.

Analyst recommendations

9 analysts, Nov 2026
Buy778%
Hold222%
Sell00%

Monthly trend

  1. Nov 20263429
  2. Oct 20263429
  3. Sep 20263429
  4. Aug 20263429

Counts of recommendations published by analysts covering Fabrinet, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.0%
of tradable shares
Days to cover
2.1
at average volume
Short interest, 1 month
+22%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.3%
of shares
Employees
21,521
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

What moved the share price

Last 12 months −28.6%

$440.57 on October 31, 2025 to $314.70

ThenNowEffect
Revenue (last 12 months) $3.4bn $4.6bn +35.7%
Net margin 9.7% 10.2% +4.8%
P/E multiple 48.1x 24.1x −49.8%
Share count 36m 36m 0.0%

Biggest factor: p/e multiple.

Last 3 years +93.6%

$162.52 on November 3, 2023 to $314.70

ThenNowEffect
Revenue (last 12 months) $2.6bn $4.6bn +75.5%
Net margin 9.4% 10.2% +8.8%
P/E multiple 24.2x 24.1x −0.2%
Share count 37m 36m +1.7%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FN+53%+8%+48%+16%+107%−31%
Industry peers (median)+33%+1%+6%+11%+52%+1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FN67%42%58%50%67%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FN−17%−39%−34%−28%−36%−58%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 58% from May 14, 2026 to November 2, 2026. Getting back needed a 137% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$314.70 – $746.47
From 52-week high
−57.8%
vs 50-day average
−21.7%
vs 200-day average
−39.9%
Volatility (1 year)
77%
Beta vs S&P 500
3.10

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.

Share price after results

Next day
3 up, 8 down
typical move ±10.4%
After a week
5 up, 6 down
typical move ±9.4%
After a month
7 up, 4 down
typical move ±10.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 17, 2026 −15.4% −1.1% −26.1% −31.1%
May 4, 2026 −6.5% +0.4% −8.1% +2.6%
February 2, 2026 −8.4% −0.4% +2.5% +15.2%
November 3, 2025 +4.3% −1.0% +6.1% +1.5%
August 18, 2025 −13.5% −0.6% −5.3% +8.6%
May 5, 2025 −6.1% −1.4% −1.3% +9.6%
February 3, 2025 −4.2% 0.0% −2.5% −8.5%
November 4, 2024 −5.1% +1.0% +11.7% −0.3%
August 19, 2024 +16.0% +0.8% +9.1% −0.9%
May 6, 2024 +16.8% +1.1% +22.6% +35.4%
February 5, 2024 −18.4% −0.1% −8.5% +0.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Fabrinet’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Results just out

Results came out in the last few days. Option prices are still adjusting, so we do not judge them yet.

  • Implied is 1.01× the last 60 days’ realised volatility .
  • Calls are priced 12 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: results came out in the last few days, so option prices are still adjusting.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Fabrinet in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

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) Fabrinet
$2B $3B $4B $5B $6B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $2.7B Revenue (TTM), FY24 Q3: $2.8B Revenue (TTM), FY24 Q4: $2.9B Revenue (TTM), FY25 Q1: $3B Revenue (TTM), FY25 Q2: $3.1B Revenue (TTM), FY25 Q3: $3.3B Revenue (TTM), FY25 Q4: $3.4B Revenue (TTM), FY26 Q1: $3.6B Revenue (TTM), FY26 Q2: $3.9B Revenue (TTM), FY26 Q3: $4.2B Revenue (TTM), FY26 Q4: $4.6B Revenue (TTM), FY27 Q1: $5.1B $5.1B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $2.7B
FY24 Q3 $2.8B
FY24 Q4 $2.9B
FY25 Q1 $3B
FY25 Q2 $3.1B
FY25 Q3 $3.3B
FY25 Q4 $3.4B
FY26 Q1 $3.6B
FY26 Q2 $3.9B
FY26 Q3 $4.2B
FY26 Q4 $4.6B
FY27 Q1 $5.1B
Revenue growth, TTM YoY Fabrinet
0% 20% 40% 60% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 9.8% Revenue growth, TTM YoY, FY24 Q3: 8.1% Revenue growth, TTM YoY, FY24 Q4: 9.0% Revenue growth, TTM YoY, FY25 Q1: 12.2% Revenue growth, TTM YoY, FY25 Q2: 14.8% Revenue growth, TTM YoY, FY25 Q3: 17.1% Revenue growth, TTM YoY, FY25 Q4: 18.6% Revenue growth, TTM YoY, FY26 Q1: 19.7% Revenue growth, TTM YoY, FY26 Q2: 24.7% Revenue growth, TTM YoY, FY26 Q3: 29.8% Revenue growth, TTM YoY, FY26 Q4: 35.7% Revenue growth, TTM YoY, FY27 Q1: 43.0% 43.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 9.8%
FY24 Q3 8.1%
FY24 Q4 9.0%
FY25 Q1 12.2%
FY25 Q2 14.8%
FY25 Q3 17.1%
FY25 Q4 18.6%
FY26 Q1 19.7%
FY26 Q2 24.7%
FY26 Q3 29.8%
FY26 Q4 35.7%
FY27 Q1 43.0%
Operating margin (TTM) Fabrinet
9.4% 9.6% 9.8% 10% 10.2% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 9.4% Operating margin (TTM), FY24 Q3: 9.5% Operating margin (TTM), FY24 Q4: 9.6% Operating margin (TTM), FY25 Q1: 9.7% Operating margin (TTM), FY25 Q2: 9.6% Operating margin (TTM), FY25 Q3: 9.5% Operating margin (TTM), FY25 Q4: 9.5% Operating margin (TTM), FY26 Q1: 9.5% Operating margin (TTM), FY26 Q2: 9.7% Operating margin (TTM), FY26 Q3: 9.9% Operating margin (TTM), FY26 Q4: 10.0% Operating margin (TTM), FY27 Q1: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 9.4%
FY24 Q3 9.5%
FY24 Q4 9.6%
FY25 Q1 9.7%
FY25 Q2 9.6%
FY25 Q3 9.5%
FY25 Q4 9.5%
FY26 Q1 9.5%
FY26 Q2 9.7%
FY26 Q3 9.9%
FY26 Q4 10.0%
FY27 Q1 10.0%
FCF margin (TTM) Fabrinet
-5% 0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 10.2% FCF margin (TTM), FY24 Q3: 12.5% FCF margin (TTM), FY24 Q4: 12.7% FCF margin (TTM), FY25 Q1: 9.8% FCF margin (TTM), FY25 Q2: 10.1% FCF margin (TTM), FY25 Q3: 8.3% FCF margin (TTM), FY25 Q4: 6.0% FCF margin (TTM), FY26 Q1: 5.6% FCF margin (TTM), FY26 Q2: 2.6% FCF margin (TTM), FY26 Q3: 1.1% FCF margin (TTM), FY26 Q4: 0.1% FCF margin (TTM), FY27 Q1: -3.7% -3.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 10.2%
FY24 Q3 12.5%
FY24 Q4 12.7%
FY25 Q1 9.8%
FY25 Q2 10.1%
FY25 Q3 8.3%
FY25 Q4 6.0%
FY26 Q1 5.6%
FY26 Q2 2.6%
FY26 Q3 1.1%
FY26 Q4 0.1%
FY27 Q1 -3.7%

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

Where the money goes

FY2026, from the 10-K

Each dollar Fabrinet took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $4.6B
  2. Other income $92.2M · 2.0%
  3. Cost of revenue $4.1B · 88.0%
  4. Gross profit $557M · 12.0%
  5. Selling, general and admin $93.5M · 2.0%
  6. Operating income $463M · 10.0%
  7. Income tax $82.1M · 1.8%
  8. Net income $473M · 10.2%

Shares of revenue. Source: Fabrinet's 10-K for FY2026, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

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

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026 LTM Sept 2026
Income
Revenue 506 744 565 642 678 774 977 1,420 1,372 1,584 1,642 1,879 2,262 2,645 2,883 3,419 4,641 5,137
Gross profit 64 95 62 69 74 88 120 171 153 179 186 221 279 336 356 413 557 614
EBITDA 56 79 −51 81 102 60 87 130 123 153 148 187 243 296 327 378 531 590
Operating income 48 70 −61 71 91 47 70 106 94 123 117 151 205 252 278 324 463 515
Net income 44 64 −56 69 92 44 62 97 84 121 113 148 200 248 296 333 473 481
Diluted EPS $1.41 $1.87 −$1.64 $1.98 $2.58 $1.21 $1.68 $2.57 $2.21 $3.23 $3.01 $3.95 $5.36 $6.73 $8.10 $9.17 $13.05 $13.24
Growth (year on year)
Revenue — +47.0% −24.1% +13.6% +5.7% +14.1% +26.3% +45.4% −3.4% +15.5% +3.6% +14.5% +20.4% +16.9% +9.0% +18.6% +35.7% +43.0%
EBITDA — +40.8% −165.5% — +26.2% −41.1% +45.0% +48.7% −5.2% +24.1% −2.8% +26.1% +30.1% +21.5% +10.5% +15.7% +40.6% +48.5%
Operating income — +45.3% −187.0% — +29.0% −48.4% +48.0% +51.6% −11.3% +30.7% −4.3% +28.4% +35.7% +23.1% +10.3% +16.9% +42.7% +50.6%
Net income — +45.1% −187.8% — +33.0% −52.4% +41.8% +56.9% −13.3% +43.7% −6.2% +30.7% +35.1% +23.7% +19.5% +12.3% +42.3% +36.9%
Diluted EPS — +32.6% −187.7% — +30.3% −53.1% +38.8% +53.0% −14.0% +46.2% −6.8% +31.2% +35.7% +25.6% +20.4% +13.2% +42.3% +36.5%
Margins
Gross margin 12.7% 12.7% 11.0% 10.8% 11.0% 11.3% 12.2% 12.1% 11.2% 11.3% 11.3% 11.8% 12.3% 12.7% 12.4% 12.1% 12.0% 11.9%
EBITDA margin 11.0% 10.6% −9.1% 12.6% 15.0% 7.8% 8.9% 9.1% 9.0% 9.6% 9.0% 10.0% 10.8% 11.2% 11.3% 11.1% 11.4% 11.5%
Operating margin 9.5% 9.4% −10.8% 11.0% 13.5% 6.1% 7.1% 7.5% 6.8% 7.7% 7.2% 8.0% 9.0% 9.5% 9.6% 9.5% 10.0% 10.0%
Net margin 8.8% 8.7% −10.0% 10.8% 13.5% 5.6% 6.3% 6.8% 6.1% 7.6% 6.9% 7.9% 8.9% 9.4% 10.3% 9.7% 10.2% 9.4%
Free-cash-flow margin 1.9% 2.6% −5.9% 5.9% 8.2% 0.2% 0.7% 0.2% 7.6% 8.1% 6.6% 4.0% 1.5% 5.7% 12.7% 6.1% 0.1% −3.7%
Cash flow
Cash from operations 18 41 2 49 67 53 47 71 138 147 151 122 124 213 413 328 257 175
Capital spending 8 22 36 11 11 51 41 68 34 19 42 46 90 61 48 121 253 366
Free cash flow 10 19 −33 38 56 1 6 3 104 129 108 76 35 152 366 207 4 −190
Stock-based pay 1 3 5 5 6 8 10 27 23 17 22 25 28 28 28 33 35 37
Free cash flow after stock pay 9 16 −38 33 50 −7 −3 −24 82 112 86 51 7 124 337 174 −30 −227
Balance sheet
Cash 85 127 116 150 233 113 143 134 158 181 225 303 198 231 410 306 347 392
Total debt 0 16 39 29 34 42 42 62 7 64 64 52 40 24 — 0 0 75
Net debt (negative = net cash) −85 −111 −77 −121 −200 −71 −100 −72 −152 −117 −162 −251 −158 −207 −410 −306 −347 −318
Diluted shares 31m 34m 34m 35m 36m 36m 37m 38m 38m 37m 38m 38m 37m 37m 37m 36m 36m 36m
Returned to shareholders
Dividends 31 — — — — — — — — — — — — — — — — —
Buybacks — — — — — — — — 42 5 21 19 60 48 39 126 5 34
Total returned 31 — — — — — — — 42 5 21 19 60 48 39 126 5 34

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

6 of 7 checks passed · September 25, 2026
What it owns · $4.3bn
Short-term assets $3.4bnLonger-term assets $896m
What it owes, and who funded it · $4.3bn
Short-term liabilities $1.7bnLonger-term liabilities $124mShareholders' equity $2.5bn
  • Short-term assets cover short-term liabilities $3.4bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.4bn short-term assets against $124m of longer-dated liabilities.
  • More cash than debt $392m of cash against $75m of debt.
  • Debt below 40% of shareholders' equity Debt is 3% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1% to 3% over five years.
  • A year's operating cash flow covers at least 20% of debt $175m of operating cash flow against $75m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Fabrinet'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

FY2027 Q1 TTM
Buybacks (TTM)
$34.1M
Returned to shareholders
-18%
of free cash flow
Buybacks, last 3 fiscal years
$170M
Diluted share count
+0.3%
year over year
Total shareholder yield
0.3%
dividends 0.0% + buybacks 0.3% of market value
Sales & admin spending
1.9%
of revenue
Days sales outstanding
83 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic manufacturing services
Last 12 months unless stated FN PLXS BHE SANM CLS KE Median
Revenue, last 12 months $5.1bn $4.0bn $2.9bn $12.8bn $18.2bn $1.4bn $4.6bn
Revenue growth, last 12 months 43.0% 1.8% 12.9% 58.6% 61.6% −3.7% 14.7%
Revenue growth, 3-year average 24.3% −3.0% 0.6% 11.9% — −7.8% 1.2%
Revenue growth, latest quarter 50.7% 28.1% 19.1% 69.7% 82.5% −2.3% 24.8%
Gross margin 11.9% 11.4% 10.4% 9.0% 11.5% 8.2% 10.9%
Operating margin 10.0% 5.7% 3.5% 4.2% 8.3% 4.6% 4.7%
Operating margin, 3-year average 9.7% 9.5% 3.6% 4.4% — 3.5% 4.4%
Net margin 9.4% 4.6% 1.9% 2.4% 6.8% 2.0% 3.1%
Cash from operations / revenue 3.4% 4.2% 5.8% 7.1% 7.7% 5.0% 5.4%
Free-cash-flow margin −3.7% 1.5% 3.8% 4.7% 3.0% 1.4% 2.8%
Free-cash-flow margin, 3-year average 3.9% 10.1% 5.2% 4.1% — 4.4% 4.1%
Stock pay / revenue 0.7% 1.1% 0.8% 0.7% 0.5% 0.6% 0.5%
Change in share count 0.3% −1.3% −0.9% −0.7% 0.8% −1.0% −0.8%

Median of all 12 companies we cover in electronic manufacturing services. 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

12 electronic manufacturing services companies
Measure Company Peer median Rank
Revenue growth Growth 43.0% 16.5% 3 of 12
Change in growth rate Growth +7.2pp +4.0pp 3 of 12
Gross margin Profitability 11.9% 11.4% 4 of 12
Operating margin Profitability 10.0% 4.7% 2 of 12
Net margin Profitability 9.4% 3.4% 3 of 12
Free-cash-flow margin Cash generation -3.7% 3.0% 12 of 12
Stock pay as % of revenue Cash generation 0.7% 0.6% 8 of 11
Long-term debt as % of assets Balance sheet 1.5% 10.6% 1 of 10
Change in share count Balance sheet 0.3% -0.7% 9 of 12
Days sales outstanding Balance sheet 83 days 68 days 7 of 7

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

Where the revenue comes from

Fiscal year to June 26, 2026
Products and services
Line of business Revenue Share YoY
Data Center $2.2B 47.9% ▲ 40.8%
Communications Infrastructure $1.5B 33.3% ▲ 47.4%
Automotive Industrial and Others $870M 18.7% ▲ 10.1%
Geography
Region Revenue Share YoY
Asia Pacific $3.4B 75.3% ▲ 34.8%
TH $2.8B 82.9% ▲ 33.8%
Singapore $255M 7.4% ▲ 15.6%
Europe $159M 4.6% ▲ 14.4%
Malaysia $114M 3.3% ▲ 190.1%
Israel $54.8M 1.6% ▲ 57.6%
North America $1.1B 23.2% ▲ 42.8%
United States $965M 91.6% ▲ 42.1%
China $88.4M 8.4% ▲ 50.1%
Germany $49.3M 1.1% ▲ 9.5%
North America Other $18.3M 0.4% ▲ 41.0%
KY $0 0.0% —

From Fabrinet's 10-K filed August 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$20.4B
Institutions reporting
751
Shares held vs prior quarter
▼ 6.8%
Positions opened / closed
166 / 80

Top buyers and sellers, Q2 2026: 420 institutions bought and 326 sold ; the biggest buyer was T. Rowe Price Investment Management, Inc (+625K shares) and the biggest seller Price T Rowe Associates Inc (−1.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2.7B 4.8M 13.3% ▼ 13.8%
Price T Rowe Associates Inc $1.1B 1.9M 5.4% ▼ 49.5%
Vanguard Portfolio Management LLC $1.1B 1.9M 5.2% ▼ 11.0%
FMR LLC $1B 1.8M 5.1% ▼ 13.1%
Vanguard Capital Management LLC $908M 1.6M 4.5% ▲ 0.6%
Jpmorgan Chase & Co $833M 1.6M 4.1% ▲ 42.8%
State Street Corp $737M 1.3M 3.6% ▲ 0.9%
Geode Capital Management, LLC $602M 1.1M 3.0% ▼ 13.1%
Invesco Ltd. $504M 897K 2.5% ▼ 16.4%
T. Rowe Price Investment Management, Inc. $477M 849K 2.3% ▲ 278.6%
Whale Rock Capital Management LLC $419M 745K 2.1% ▲ 21.8%
Durable Capital Partners LP $339M 603K 1.7% ▲ 178.7%

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 Fabrinet's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $17M 15 trades by 5 insiders · 0% under pre-set plans
Net ▼ $17M net selling
Insider Date Trade Shares Price Value
Archer Edward T. EVP, Sales & Marketing September 3, 2026 Sell 1,080 $386.34 $417,247
Archer Edward T. EVP, Sales & Marketing September 3, 2026 Sell 1,420 $385.58 $547,524
Bahrami Homa Director May 22, 2026 Sell 2,500 $711.91 $1.8M
Kelly Thomas F Director February 25, 2026 Sell 350 $625.52 $218,932
Kelly Thomas F Director February 25, 2026 Sell 770 $622.47 $479,302
Kelly Thomas F Director February 25, 2026 Sell 120 $623.30 $74,796
Kelly Thomas F Director February 25, 2026 Sell 610 $624.76 $381,104
Knight Darlene S. Director December 5, 2025 Sell 500 $482.11 $241,055
Knight Darlene S. Director December 4, 2025 Sell 500 $472.00 $236,000
Kelly Thomas F Director December 4, 2025 Sell 2,200 $464.14 $1M
Bahrami Homa Director December 1, 2025 Sell 3,500 $453.75 $1.6M
Grady Seamus Chief Executive Officer November 26, 2025 Sell 12,740 $446.45 $5.7M

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.

Trades by members of Congress

All 10 trades and filings

In the last 12 months, 2 members of Congress disclosed 4 purchases and 2 sales of Fabrinet shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $15,001 - $50,000, traded July 16, 2026, filed September 4, 2026
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded July 14, 2026, filed August 10, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded May 4, 2026, filed June 8, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 17, 2026
  • May 4, 2026
  • February 2, 2026
  • November 3, 2025
  • August 18, 2025

Recent SEC filings

Data status

When each part of this page on Fabrinet was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
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.

Fabrinet in brief

What does Fabrinet do?
Fabrinet is a US-listed company in the electronic manufacturing services industry. Its financial year ends in June.
What is Fabrinet's stock ticker?
Fabrinet trades under the ticker FN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Fabrinet's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Fabrinet reported revenue of $5.1B, 43.0% higher than a year earlier, according to its SEC filings.
What is Fabrinet's free cash flow?
Fabrinet's free-cash-flow margin is -3.7% of revenue over the trailing twelve months, ranking 12 of the 12 electronic manufacturing services companies we cover.
What is Fabrinet's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Fabrinet's free cash flow after stock-based pay gives ~$100 per share in the base case, and ~$83–$130 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Fabrinet's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Fabrinet buying back stock, and does it pay a dividend?
Fabrinet spent $34.1M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.3% over the year.
What is Fabrinet's market cap?
On November 2, 2026, Fabrinet's market capitalisation was about $11.4B, with a price-to-earnings ratio of 23.8 and net debt of -$318M. Market figures come from third-party market data and may be delayed.
How much debt does Fabrinet have?
Fabrinet's debt-to-equity ratio is 3.0%, from its latest balance sheet (1.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Fabrinet's competitors?
In our Electronic Manufacturing Services peer group, the companies closest to Fabrinet are Plexus Corp, Benchmark Electronics Inc, Sanmina Corp, Celestica Inc and Kimball Electronics, Inc. The side-by-side comparison below sets their revenue, margins and growth against Fabrinet's.
Are insiders buying or selling Fabrinet stock?
Over the last 12 months, Fabrinet's directors and officers reported 0 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Fabrinet's next earnings date?
Around February 1, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Fabrinet announces its own schedule.