Stocks · Technology · Hardware, Equipment & Parts
Flex Ltd. FLEX
$116.61 +3.40% Close, Oct 2, 2026 · NASDAQ · Market cap $43.08B
Strong trend
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 14 quarters (average surprise over the last four: +8.5%).
- Over the past year the stock returned +101.0%, ahead of the S&P 500 by 85.9 percentage points.
- The shares trade at 45.0× trailing earnings, higher than 95% of the company's own readings over the past five years.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 50%
- EPS growth (TTM, YoY)Top 50%
- FCF growth (TTM, YoY)Bottom 27%
- Revenue growth, 3-year CAGRBottom 28%
- Revenue growth accelerationTop 26%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 28%
- Gross marginBottom 6%
- Operating marginTop 48%
- Cash conversion (OCF / net income)Top 45%
- Accruals (lower is better)Bottom 27%
- Net debt / EBITDA (lower is better)Bottom 33%
- Interest coverTop 38%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 36%
- Free-cash-flow yieldBottom 48%
- EBITDA / enterprise valueTop 41%
- Sales / enterprise valueTop 24%
- P/E vs own 5-year history (lower is better)Bottom 10%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 13%
- 6-month returnTop 19%
- 1-year return vs S&P 500Top 13%
- Distance from 52-week highTop 50%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 49%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyTop 37%
- Upside to consensus price targetTop 50%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 46%
- Maximum drawdown, 3 yearsTop 12%
- Beta vs S&P 500 (lower is better)Bottom 27%
- Net debt / EBITDA (lower is better)Bottom 33%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 8.1% | 12.2% | ↑ |
| EPS growth (YoY) | 9.9% | 13.6% | ↑ |
| Gross margin | 8.7% | 9.5% | ↑ |
| Operating margin | 4.8% | 5.2% | ↑ |
| FCF margin | 4.2% | 3.7% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 12.2% | 8.1% | ↑ | Top 50% |
| EPS growth (TTM, YoY) | 13.6% | 9.9% | ↑ | Top 50% |
| Gross margin | 9.5% | 8.7% | ↑ | Bottom 6% |
| Operating margin | 5.2% | 4.8% | ↑ | Top 48% |
| Net margin | 3.3% | 3.4% | ↓ | — |
| Free-cash-flow margin | 3.7% | 4.2% | ↓ | — |
| Return on invested capital | 9.6% | — | Top 28% | |
| Revenue growth, 3-year CAGR | -0.7% | — | Bottom 28% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.86×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -3.3%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.9%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -4.5 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 1.62×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 6.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 3.81%
- Shareholder yield
- 3.81%
- Share count change, 1 year
- -1.8%
- Share count change, 3-year CAGR
- -6.3%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 26, 2026 (filed Jul 31, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 14
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +8.5%
- Average 2-day reaction, last 8
- +3.0%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $147.50
- Target vs current price
- +26.5%
- Analysts with a rating
- 26
- Share rating Buy or Strong Buy
- 73%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | +11.2% | -9.1% | +11.9% | -3.6% | — |
| May 6, 2026 | +6.4% | +39.7% | +44.8% | +67.9% | +17.9% |
| Feb 4, 2026 | +11.7% | -10.9% | -2.6% | -3.1% | +38.7% |
| Oct 29, 2025 | +4.8% | +2.9% | -3.8% | -10.8% | -0.8% |
| Jul 24, 2025 | +14.3% | -7.7% | -5.1% | -8.7% | +17.7% |
| May 7, 2025 | +5.0% | +3.2% | +13.8% | +16.3% | +34.7% |
| Jan 29, 2025 | +20.3% | +2.3% | +3.3% | -2.0% | -14.6% |
| Oct 30, 2024 | +14.3% | +3.2% | +5.0% | +15.1% | +17.1% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | $1.00 | $0.90 | +11.2% | $7.93B |
| May 6, 2026 | $0.93 | $0.87 | +6.4% | $7.48B |
| Feb 4, 2026 | $0.87 | $0.78 | +11.7% | $7.06B |
| Oct 29, 2025 | $0.79 | $0.75 | +4.8% | $6.80B |
| Jul 24, 2025 | $0.72 | $0.63 | +14.3% | $6.58B |
| May 7, 2025 | $0.73 | $0.70 | +5.0% | $6.40B |
| Jan 29, 2025 | $0.77 | $0.64 | +20.3% | $6.56B |
| Oct 30, 2024 | $0.64 | $0.56 | +14.3% | $6.50B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 45.0× | 14.8× | 95th | Top 36% |
| P/E (forward) | 24.8× | — | — | — |
| EV / EBITDA | 24.3× | — | — | Top 41% |
| EV / Sales | 1.58× | — | — | Top 24% |
| Free-cash-flow yield | 2.48% | — | — | Bottom 48% |
| Earnings yield | 2.22% | — | — | Top 36% |
P/E over the past five years
Range 8.1× – 56.5× since Jul 2, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +101.0%
- Earnings per share growth (TTM)
- +13.6%
- Change in P/E multiple
- +100.3%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 1
- Days above the 200-day average
- 357
- 50-day average slope (20 days)
- -8.0%
- 200-day average slope (20 days)
- +5.3%
- Distance from 50-day average
- +2.2%
- Distance from 200-day average
- +17.1%
- RSI (14)
- 55.2
- Relative volume
- 0.59×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 58.6%
- Volatility vs own 5-year history
- 83th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.92
- Correlation with S&P 500
- 0.51
- Current drawdown from 1-year high
- -28.0%
- Maximum drawdown, 3 years
- -40.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 22, 2025 | Apr 4, 2025 | -40.0% | 51 days | 50 days (Jun 17, 2025) |
| Jun 30, 2026 | Jul 29, 2026 | -36.4% | 20 days | Not yet recovered |
| Jul 19, 2023 | Dec 5, 2023 | -36.3% | 97 days | 59 days (Mar 1, 2024) |
| Feb 16, 2021 | Jul 14, 2022 | -28.7% | 355 days | 77 days (Nov 1, 2022) |
| Feb 14, 2023 | Apr 25, 2023 | -20.3% | 48 days | 22 days (May 25, 2023) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $43.08B
- P/E (TTM)
- 45.0
- EPS, diluted (TTM)
- $2.59
- Revenue (TTM)
- $29.27B
- 52-week range
- $53.07 – $166.86
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Revenue | $24.63B | $28.50B | $26.41B | $25.81B | $27.91B |
| Gross profit | $1.78B | $1.98B | $1.86B | $2.16B | $2.56B |
| Operating income | $890.0M | $1.02B | $853.0M | $1.17B | $1.51B |
| Net income | $936.0M | $793.0M | $1.01B | $838.0M | $880.0M |
| EPS (diluted) | $1.94 | $1.72 | $2.28 | $2.11 | $2.33 |
| Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | Q1 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.54B | $6.56B | $6.40B | $6.58B | $6.80B | $7.06B | $7.48B | $7.93B |
| Net income | $214.0M | $263.0M | $222.0M | $192.0M | $199.0M | $239.0M | $250.0M | $285.0M |
| EPS (diluted) | $0.54 | $0.67 | $0.57 | $0.50 | $0.52 | $0.64 | $0.67 | $0.76 |
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.02B | $950.0M | $1.33B | $1.50B | $1.69B |
| Capital expenditure | -$443.0M | -$635.0M | -$530.0M | -$438.0M | -$633.0M |
| Free cash flow | $581.0M | $315.0M | $796.0M | $1.07B | $1.05B |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$686.0M | $357.0M | -$1.30B | -$1.26B | -$944.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $2.84B
- Total assets
- $25.20B
- Total liabilities
- $19.70B
- Total debt
- $5.93B
- Net debt
- $3.09B
- Shareholders’ equity
- $5.50B
As of Jun 26, 2026 (filed Jul 31, 2026).
Short interest
- Shares sold short
- 8,982,357
- Days to cover
- 3.01
- Change vs previous report
- -8.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Oct 17, 2000
- 2-for-1
- Dec 23, 1999
- 2-for-1
- Jan 12, 1999
- 2-for-1