Flex Ltd. (FLEX)财务
NASDAQ · Technology · Hardware, Equipment & Parts · 员工149,686人 · CEO Revathi Advaithi
- 股价
- $86.48 -7.08%
- 市值
- $320亿
- 企业价值
- $349亿
- 最近财报
- Q2 '27 2026-10-30提交
- 下次财报
- 2027-01-27 EPS预期 $1.25
营收(TTM)$310亿+17.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)5.3%+0.5 百分点 对比去年同期营业利润 $16.3亿
净利润(TTM)$10.4亿+18.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$10.3亿-13.9% 对比去年同期资本支出 $8.27亿
稀释EPS(TTM)$2.77+22.6% 对比去年同期最近4个季度之和
净现金-$29亿-41.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $320亿 EV $349亿
- 营收
- $310亿 过去12个月
- 营收增速
- +27% FY2027年一致预期
- 净利润率
- 3.4% 净利润 / 营收,TTM
- P/E
- 31.2× 预期 17.5×(FY2027)
- P/S
- 1.0× 股价 / 营收,TTM
- EV / EBITDA
- 16.2× TTM
- 自由现金流
- $10.3亿 过去12个月
- 净利润
- $10.4亿 过去12个月
- 营收预期
- $354亿 FY2027年一致预期
- 盈利
- 2027-01-27 营收预期 $90.5亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收超预期3.9%,EPS 超预期11.3%营收$84.9亿,预期$81.7亿(+3.9%);EPS $1.18,预期$1.06(+11.3%)。
- 营收增长加速:同比24.8%Q2 '27营收$84.9亿,此前四个季度的平均值为12.3%。
- 营业利润率5.3%(TTM),较去年同期+0.5 百分点营收增长17.5%,营业利润增长30.9%。
- 税前利润的18.0%被营业外亏损吞噬税前利润$13.8亿,营业利润$16.3亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.7%(去年为1.9%)最近4个季度投入$8.27亿(同比+63.1%)。自由现金流$10.3亿,相当于净利润的98.9%。
- 股东回报$13.4亿 = 自由现金流的131.0%回购$13.4亿(去年为$10.4亿),股息$0,股权激励$2.13亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少1.6%Q2 '27稀释股数3.74亿,一年前为3.8亿。
- 净债务 $29亿现金 + 短期投资 $30.8亿,含租赁债务 $59.8亿;一年前净债务 $20.4亿。
上一季度:Q2 '27
截至2026-09-25的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $84.9亿 | $68亿 | +24.8% |
| 毛利率 | 9.6% | 9.0% | +0.5 百分点 |
| 营业利润 | $4.14亿 | $2.96亿 | +39.9% |
| 营业利润率 | 4.9% | 4.4% | +0.5 百分点 |
| 净利润 | $2.63亿 | $1.99亿 | +32.2% |
| 稀释EPS | $0.70 | $0.52 | +34.6% |
| 经营现金流 | $5.01亿 | $4.53亿 | +10.6% |
| 资本支出 | $2.41亿 | $1.5亿 | +60.7% |
| 自由现金流 | $2.6亿 | $3.03亿 | -14.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $3700万 | -100.0% |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $84.9亿 | $81.7亿 | +3.9% |
| EPS(一致预期口径) | $1.18 | $1.06 | +11.3% |
来自2026-10-28发布的Q2 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Flex Agility Solutions (FAS) | $38.2亿 | +6.1% | 54.1% | $148亿 | -15.1% | |
| Flex Reliability Solutions (FRS) | $32.4亿 | +9.6% | 45.9% | $121亿 | -20.0% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '25分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Flex Agility Solutions FAS | – | – | $2.27亿 | – | – | – | – |
| Flex Reliability Solutions FRS | – | – | $1.98亿 | – | – | – | – |
| Corporate (unallocated) | – | – | -$2600万 | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $18.5亿
- 资本支出
- -$8.27亿
- 股票回购
- -$13.4亿
- 股息
- $0
- 收购
- -$11.3亿
- 债务净发行
- $8700万
- 股权激励费用
- $2.13亿
- 自由现金流
- $10.3亿
- 股东回报 / FCF
- 131.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 31.2× | 15.5× | 9.4× – 28.1× |
| EV / EBITDA | 16.2× | 9.1× | 6.6× – 13.7× |
| EV / 营收 | 1.1× | 0.6× | 0.4× – 0.9× |
| 股价 / FCF | 31.1× | 19.7× | 12.1× – 33.2× |
| 股价 / 净资产 | 5.6× | 2.7× | 2.0× – 4.8× |
| FCF收益率 | 3.2% | 5.8% | 3.0% – 8.2% |
| 投入资本回报率 | 9.9% | 9.3% | 8.1% – 11.5% |
| 净资产收益率 | 19.2% | 18.0% | 14.8% – 22.7% |
分析师
一致目标价 $154.00 (+78.1%)
区间 $128.00 – $180.00 · 评级 Buy
强烈买入0
买入19
持有7
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $354亿 | +26.8% | $4.95 | +112.6% | 17.5× | 4 |
| FY2028 | $462亿 | +30.7% | $7.59 | +53.2% | 11.4× | 5 |
| FY2029 | $538亿 | +16.3% | $10.04 | +32.3% | 8.6× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Flex Ltd.在近期10-Q / 10-K文件中标记的全部268项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | $0 | – | – | |
| $1400万 | $1500万 | -6.7% | $5300万 | $7900万 | -32.9% | |
| Accounts Payable, Current | $97.1亿 | $61.3亿 | +58.5% | $80.6亿 | $51.5亿 | +56.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $57.8亿 | $38.6亿 | +49.8% | $46.8亿 | $36.7亿 | +27.5% |
| Accounts Receivable, Allowance for Credit Loss, Current | $800万 | $900万 | -11.1% | $800万2023-03-31 | $5600万 | -85.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $48亿2026-03-31 | $46.2亿 | +3.9% | $48亿 | $46.2亿 | +3.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.51亿 | -$1.11亿 | -36.0% | -$1.67亿 | -$2.24亿 | +25.4% |
| Acquired Finite-lived Intangible Asset, Residual Value | $02026-03-31 | $0 | – | $0 | $0 | – |
| Adjustment of Warrants Granted for Services | $300万 | – | – | – | – | – |
| Amortization of Intangible Assets | $2700万 | $1600万 | +68.8% | $6800万 | $7000万 | -2.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $4300万 | $3700万 | +16.2% | $1.42亿 | $1.25亿 | +13.6% |
| Asset Impairment Charges | $100万 | – | – | $200万2025-03-31 | $1400万 | -85.7% |
| Assets | $274亿 | $195亿 | +40.1% | $221亿 | $184亿 | +20.0% |
| Assets, Current | $202亿 | $138亿 | +45.7% | $163亿 | $128亿 | +27.2% |
| Business Combination, Acquisition Related Costs | $1900万 | – | – | $800万2016-03-31 | – | – |
| Business Combination, Bargain Purchase, Gain Recognized, Amount | – | – | – | $0 | $1900万 | -100.0% |
| Business Combination, Contingent Consideration, Liability | $02026-06-26 | – | – | $200万 | $500万 | -60.0% |
| Capital Expenditures Incurred but Not yet Paid | $8600万 | $600万 | +1,333.3% | $1.74亿 | $1.36亿 | +27.9% |
| Cash | $7.45亿2026-03-31 | $7.54亿 | -1.2% | $7.45亿 | $7.54亿 | -1.2% |
| Cash and Cash Equivalents, at Carrying Value | $30.8亿 | $22.5亿 | +37.1% | $23.9亿 | $22.9亿 | +4.4% |
| Cash and Cash Equivalents, Fair Value Disclosure | $26.9亿 | – | – | $16.4亿 | $15.4亿 | +7.1% |
| Cash Equivalents, at Carrying Value | $16.4亿2026-03-31 | $15.4亿 | +7.1% | $16.4亿 | $15.4亿 | +7.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $30.8亿 | $22.5亿 | +37.1% | $23.9亿 | $22.9亿 | +4.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $2.43亿 | $1000万 | +2,330.0% | $1亿 | -$1.85亿 | +154.1% |
| Class of Warrant or Right, Exercise Price of Warrants or Rights | $51.29 | – | – | – | – | – |
| Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 386万 | – | – | – | – | – |
| Common Stock, No Par Value | $0.00 | $0.00 | – | $0.00 | $0.00 | – |
| Common Stock, Shares, Issued | 3.75亿 | 3.76亿 | -0.4% | 3.71亿 | 3.83亿 | -3.2% |
| Common Stock, Shares, Outstanding | 3.69亿 | 3.71亿 | -0.4% | 3.66亿 | 3.78亿 | -3.2% |
| Common Stock, Value, Outstanding | $34.5亿 | $36.7亿 | -6.1% | $33.5亿 | $41.4亿 | -19.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | – | – | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.62亿 | $2.04亿 | +28.4% | $9.37亿 | $8.09亿 | +15.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | – | – | – | $9.37亿 | $8.09亿 | +15.8% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $14.4亿 | $8.19亿 | +76.2% | $10.6亿 | $6.16亿 | +72.6% |
| Contract with Customer, Liability | $5.38亿 | $4.29亿 | +25.4% | $4.31亿 | $3.77亿 | +14.3% |
| Cost of Goods and Services Sold | $76.6亿 | $61.8亿 | +24.0% | $253亿 | $236亿 | +7.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $200万 | $200万 | 0.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.23亿 | $1.28亿 | +74.2% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.25亿 | $1.3亿 | +73.1% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $1000万2026-03-31 | $1500万 | -33.3% | $1000万 | $1500万 | -33.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $300万 | -100.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $3800万 | $5200万 | -26.9% |
| Deferred Income Tax Assets, Net | $5.38亿2026-03-31 | $5.77亿 | -6.8% | $5.38亿 | $5.77亿 | -6.8% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $3800万 | $5500万 | -30.9% |
| Deferred Income Tax Liabilities, Net | $1.11亿2026-03-31 | $1.49亿 | -25.5% | $1.11亿 | $1.49亿 | -25.5% |
| Deferred Income Taxes and Other Assets, Noncurrent | $5.47亿 | $5.75亿 | -4.9% | $5.38亿 | $5.77亿 | -6.8% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $100万2026-03-31 | $300万 | -66.7% | $100万 | $300万 | -66.7% |
| Deferred Tax Assets, Gross | $14亿2026-03-31 | $14.3亿 | -2.3% | $14亿 | $14.3亿 | -2.3% |
| Deferred Tax Assets, Inventory | $2900万2026-03-31 | $3200万 | -9.4% | $2900万 | $3200万 | -9.4% |
| Deferred Tax Assets, Investment in Subsidiaries | $7000万2026-03-31 | $7400万 | -5.4% | $7000万 | $7400万 | -5.4% |
| Deferred Tax Assets, Net | $4.27亿2026-03-31 | $4.28亿 | -0.2% | $4.27亿 | $4.28亿 | -0.2% |
| Deferred Tax Assets, Net of Valuation Allowance | $6.03亿2026-03-31 | $6.52亿 | -7.5% | $6.03亿 | $6.52亿 | -7.5% |
| Deferred Tax Assets, Operating Loss Carryforwards | $9.43亿2026-03-31 | $10.2亿 | -7.7% | $9.43亿 | $10.2亿 | -7.7% |
| Deferred Tax Assets, Other | $2.35亿2026-03-31 | $1.86亿 | +26.3% | $2.35亿 | $1.86亿 | +26.3% |
| Deferred Tax Assets, Property, Plant and Equipment | $7600万2026-03-31 | $7600万 | 0.0% | $7600万 | $7600万 | 0.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $4400万2026-03-31 | $3700万 | +18.9% | $4400万 | $3700万 | +18.9% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $200万2026-03-31 | $300万 | -33.3% | $200万 | $300万 | -33.3% |
| Deferred Tax Assets, Valuation Allowance | $7.97亿2026-03-31 | $7.81亿 | +2.0% | $7.97亿 | $7.81亿 | +2.0% |
| Deferred Tax Liabilities, Intangible Assets | $4500万2026-03-31 | $5200万 | -13.5% | $4500万 | $5200万 | -13.5% |
| Deferred Tax Liabilities, Net | $1.76亿2026-03-31 | $2.24亿 | -21.4% | $1.76亿 | $2.24亿 | -21.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-25, 10-Q 2026-06-26, 10-K 2026-03-31, 10-Q 2025-12-31, 10-Q 2025-09-26, 10-Q 2025-06-27, 10-K 2025-03-31, 10-Q 2024-12-31, 10-Q 2024-09-27
数据截至 2026-11-02