# Avnet, Inc. (AVT)

> Source: Nexqual · https://nexqual.com/AVT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Avnet, Inc. (AVT), nexqual.com/AVT" · informational, not investment advice.

**Price:** USD 88.64 (-4.82% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 93.13 · day 85.66–91.07 · 52w 44.25–108.63 · market cap $7.29B · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $27.6B, net income $334M (1.2% margin), free cash flow -$354M (SEC filings).
- Valuation: P/E 21.8x (avg 17.0x at the last 3 fiscal year-ends), EV/EBITDA 12.9x, net debt $3.06B.
- 3 of 80 tracked superinvestors hold AVT (13F, Q2 2026): 1 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $11.0M; 4 not under a Rule 10b5-1 plan ($11.0M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.75 on a 1–5 scale) (4 analysts), mean target USD 106.25 (range 80–120).
- Total return with dividends: 1Y +73.5% vs S&P 500 +14.9%; 5Y +164.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 2.86, revenue estimate $9.20B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $24.3B | $26.5B | $23.8B | $22.2B | $27.6B | $27.6B |
| Gross profit | $2.97B | $3.18B | $2.77B | $2.38B | $2.88B | — |
| Operating income | $939M | $1.19B | $844M | $514M | $725M | $725M |
| Net income | $692M | $771M | $499M | $240M | $334M | $334M |
| EPS (diluted) | $6.94 | $8.26 | $5.43 | $2.75 | $4.01 | — |
| Free cash flow | -$268M | -$908M | $464M | $577M | -$354M | -$354M |
| Gross margin | 12.2% | 12.0% | 11.6% | 10.7% | 10.4% | — |
| Operating margin | 3.9% | 4.5% | 3.6% | 2.3% | 2.6% | 2.6% |
| Net margin | 2.8% | 2.9% | 2.1% | 1.1% | 1.2% | 1.2% |
| Revenue growth | +24.4% | +9.2% | -10.5% | -6.6% | +24.5% | — |
| Cash + short-term investments | $154M | $288M | $311M | $192M | $155M | — |
| Total debt | $1.61B | $3.06B | $2.90B | $2.66B | $3.21B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 21.8x · P/S 0.3x · EV/EBITDA 12.9x · EV/Sales 0.4x · P/B 1.4x · FCF yield -4.86% · Earnings yield 4.59% · Dividend yield (paid, TTM) 1.57% · Buyback yield (TTM) 1.90% · Net debt $3.06B · EV $10.3B
P/E at fiscal year-ends: Jun 2026 22.2x, Jun 2025 19.3x, Jun 2024 9.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold AVT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Greenhaven Associates |  | 3.87% | $335M | Reduced -3.8% |
| Richard Pzena | Pzena Investment Management | 0.81% | $277M | Reduced -45.2% |
| Lee Ainslie | Maverick Capital | <0.01% | $513K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-19 | McCoy Michael Ryan | SVP, General Counsel | 32,052 | $2.9M | 24.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-12 | Gallagher Philip R | Chief Executive Officer | 51,900 | $5.1M | 12.1% | No | Too little history (no open-market trades in 2025) |
| 2026-05-22 | Jacobson Kenneth A | Chief Financial Officer | 12,000 | $1.0M | 12.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-05 | Gallagher Philip R | Chief Executive Officer | 23,920 | $2.0M | 5.9% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 4 analysts; mean target USD 106.25 (low 80, high 120).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-06 | Truist Securities | Target raised | Buy | $95 → $110 |
| 2026-07-20 | Wells Fargo | Target raised | Underweight | $70 → $72 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +73.5% | +164.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +73.9% | +21.4% |
| Volatility (annualized) | 38.4% | 28.3% |
| Max drawdown | -17.1% (Oct 2026→Oct 2026) | -24.3% (Nov 2024→Mar 2025) |

## Peers (Electronics & Computer Distribution)
NSIT (Insight Enterprises, Inc.) USD 171.27 +0.05% · ARW (Arrow Electronics, Inc.) USD 209.4 -4.44% · SNX (TD SYNNEX Corporation) USD 247.08 -1.62% · CNXN (PC Connection, Inc.) USD 88.51 +0.89% · SCSC (ScanSource, Inc.) USD 59.96 -1.79% · CLMB (Climb Global Solutions, Inc.) USD 31.95 +1.98%

## More
Full page: https://nexqual.com/AVT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name AVT in their own reports (relationship from AVT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | CTS CORP (CTS) | 10-K 2026-02-24 | "Our key distribution partners include large global and regional distributors such as Avnet, Inc., Digi-Key Electronics, Master Electronics, Future Electronics, and TTI, Inc. In addition, we also utili…" |

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Electronic Components | $7.80B | 94.0% | +49.0% |
| Premier Farnell | $500.1M | 6.0% | +29.4% |
| Total revenue | $8.30B | 100% | — |

## Revenue by product line (fiscal year ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Semiconductors | $21.38B | 77.4% | +25.8% |
| I Pand E | $3.96B | 14.3% | +20.0% |
| Computer Products | $378.3M | 1.4% | +1.7% |
| Other | $138.1M | 0.5% | +61.3% |
| Total revenue | $27.63B | 100% | — |
The lines above cover 93.6% of total revenue.

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Asia | $3.94B | 47.4% | +46.3% |
| EMEA | $2.30B | 27.7% | +43.7% |
| Americas | $2.06B | 24.8% | +55.3% |
| Total revenue | $8.30B | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "The first quarter guidance assumes similar interest expense to the fourth quarter of fiscal 2026 and an adjusted effective tax rate of between 21% and 25%."
- "The first quarter guidance assumes 85 million average diluted shares outstanding."
- "The average currency exchange rates assumed for first quarter guidance are shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Q1 Fiscal ​ ​ ​ ​ ​ ​ 2027 ​ Q4 Fiscal ​ Q1 Fiscal ​ ​ Guidance ​ ​ ​ 2026 ​ ​ ​ 2026 Euro to U.S."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.86 | $1.91 | +50.3% | $9.20B | 3 |
| Next quarter (ends 2026-12-31) | $2.97 | $2.00 | +48.7% | $9.39B | 3 |
| Current fiscal year (ends 2027-06-30) | $11.41 | $7.97 | +43.0% | $37.06B | 4 |
| Next fiscal year (ends 2028-06-30) | $12.46 | $9.28 | +34.3% | $39.23B | 3 |