Flex Ltd. (FLEX) Stock Price & Analysis
Flex Ltd. (FLEX) closed at USD 76.69 on Thursday, October 22, 2026, down 11.08% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 86.25; the Oct 22, 2026 session ranged USD 76.21–83.19 on volume of 11,005,835 shares. Market capitalization is $28.33B, with a 52-week range of USD 53.07–166.86 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FLEX.md
Key facts (FLEX)
- Last four reported quarters (through Jun 26, 2026): revenue $29.3B, net income $973M (3.3% margin), free cash flow $826M (SEC filings).
- Valuation: P/E 29.1x (avg 18.8x at the last 3 fiscal year-ends), EV/EBITDA 16.7x, net debt $2.38B.
- 3 of 80 tracked superinvestors hold FLEX (13F, Q2 2026): 2 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 1.73 on a 1–5 scale) (11 analysts), mean target USD 158.9 (range 135–180).
- Total return with dividends: 1Y +20.0% vs S&P 500 +14.9%; 5Y +445.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 1.06, revenue estimate $8.18B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FLEX)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $24.6B | $28.5B | $26.4B | $25.8B | $27.9B | $29.3B |
| Gross profit | $1.78B | $1.98B | $1.86B | $2.16B | $2.57B | — |
| Operating income | $890M | $1.02B | $853M | $1.17B | $1.37B | $1.45B |
| Net income | $936M | $793M | $1.01B | $838M | $880M | $973M |
| EPS (diluted) | $1.94 | $1.72 | $2.28 | $2.11 | $2.33 | — |
| Free cash flow | $581M | $315M | $796M | $1.07B | $1.05B | $826M |
| Gross margin | 7.2% | 6.9% | 7.1% | 8.4% | 9.2% | — |
| Operating margin | 3.6% | 3.6% | 3.2% | 4.5% | 4.9% | 5.0% |
| Net margin | 3.8% | 2.8% | 3.8% | 3.2% | 3.2% | 3.3% |
| Revenue growth | +2.1% | +15.7% | -7.3% | -2.3% | +8.1% | — |
| Cash + short-term investments | $2.96B | $3.16B | $2.47B | $2.29B | $2.39B | — |
| Total debt | $4.20B | $3.69B | $3.26B | $3.69B | $3.75B | — |
Fiscal years end Mar. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 26, 2026) (FLEX)
P/E 29.1x · P/S 1.0x · EV/EBITDA 16.7x · EV/Sales 1.1x · P/FCF 34.3x · P/B 5.2x · FCF yield 2.92% · Earnings yield 3.43% · Buyback yield (TTM) 2.46% · Net debt $2.38B · EV $30.7B
P/E at fiscal year-ends: Mar 2026 28.1x, Mar 2025 15.7x, Mar 2024 12.5x.
Superinvestors (SEC 13F-HR, Q2 2026) (FLEX)
3 of 80 tracked investors hold FLEX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Daniel Loeb | Third Point | 3.60% | $167M | New position |
| Lee Ainslie | Maverick Capital | 0.01% | $857K | New position |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $2.7M | Reduced -17.9% |
Analysts (FLEX)
Consensus Buy (mean 1.73 on a 1–5 scale), 11 analysts; mean target USD 158.9 (low 135, high 180).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-28 | Freedom Capital Markets | Maintained | Buy | $150 |
| 2026-09-08 | Freedom Capital Markets | Maintained | Buy | $150 |
| 2026-07-30 | Goldman Sachs | Target lowered | Buy | $177 → $154 |
| 2026-07-30 | Barclays | Target lowered | Overweight | $203 → $144 |
Total return (dividends reinvested) (FLEX)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +20.0% | +445.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +20.1% | +40.3% |
| Volatility (annualized) | 68.4% | 45.3% |
| Max drawdown | -52.7% (Jun 2026→Oct 2026) | -49.5% (Jun 2026→Oct 2026) |
FLEX revenue by business segment (quarter ended Jun 26, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| ITS | $3.06B | 38.5% | +19.5% |
| Integrated Technology Solutions | $3.06B | 38.5% | +19.5% |
| RMS | $2.67B | 33.7% | +11.7% |
| Regulated Manufacturing Solutions | $2.67B | 33.7% | +11.7% |
| CPI | $2.20B | 27.8% | +35.4% |
| Cloud and Power Infrastructure | $2.20B | 27.8% | +35.4% |
| Total revenue | $7.93B | 100% | — |
FLEX revenue by region (fiscal year ended Mar 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Americas | $13.82B | 49.5% | +9.2% |
| — Europe (part of Americas) | $5.69B | 20.4% | +4.3% |
| — United States (part of Americas) | $5.19B | 18.6% | +24.6% |
| — Malaysia (part of Americas) | $2.97B | 10.6% | +24.7% |
| Asia | $8.40B | 30.1% | +9.1% |
| Mexico | $6.99B | 25.1% | +2.0% |
| China | $4.49B | 16.1% | +4.1% |
| Singapore | $194.0M | 0.7% | -27.1% |
| Total revenue | $27.91B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
FLEX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Ford (F) | “We also received recognition from our customers, including being named a top-performing supplier at Ford's annual Supplier” |
Quoted from the company's 10-K filed May 20, 2026.
Companies that name FLEX in their SEC reports
| Relationship to FLEX | Company | Filing | Sentence |
|---|---|---|---|
| competitor | Kimball Electronics, Inc. (KE) | 10-K Aug 19, 2026 | “Our competition includes EMS companies such as Benchmark Electronics, Inc., Flex Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation as well as specialized providers of medical device manufacturing, drug delivery solutions, and precision molded plastics.” |
| customer | T3 Defense Inc. (DFNS) | 10-K Apr 9, 2026 | “of Israeli and international engineering and contract manufacturing companies, including Flex Ltd. (a global electronics manufacturing” |
| competitor | CELESTICA INC (CLS) | 10-K Feb 27, 2026 | “Our competitors in the EMS industry include Benchmark Electronics, Inc., Flex Ltd., Hon Hai Precision Industry Co., Ltd., Jabil Inc., Plexus Corp., and Sanmina Corporation, as well as smaller EMS companies that often have a regional, product, service or industry-specific focus.” |
| customer | TERADATA CORP /DE/ (TDC) | 10-K Feb 27, 2026 | “Given our strategy to outsource product assembly activities to Flex and to source certain components from single suppliers, a disruption in production at Flex or at a supplier, a global shortage of components, commodity, transportation, and/or inflationary pressures could impact the timing or profitability of customer shipments.” |
| customer | SOLAREDGE TECHNOLOGIES, INC. (SEDG) | 10-K Feb 25, 2026 | “We currently contract to have our solar products manufactured by two of the world's leading global electronics manufacturing service providers, Jabil Inc. ("Jabil") and Flex Ltd. ("Flex").” |
| competitor | BENCHMARK ELECTRONICS INC (BHE) | 10-K Feb 24, 2026 | “Our competitors include Celestica Inc., Flex Ltd., Jabil Inc., Kimball Electronics Inc., Plexus Corp, and Sanmina Corporation.” |
| customer | TERADYNE, INC (TER) | 10-K Feb 19, 2026 | “We depend on Flex Ltd. ("Flex") to manufacture and test our FLEX and J750 family of products from its facility in Malaysia;” |
| customer | Enphase Energy, Inc. (ENPH) | 10-K Feb 17, 2026 | “We utilize Flex Ltd. and affiliates ("Flex"), Salcomp Manufacturing India PVT and Sunwoda Electric Co. Ltd. to assemble and test certain of our IQ microinverters, IQ Battery storage systems, EV chargers and IQ Gateway products.” |
| competitor | TD SYNNEX CORP (SNX) | 10-K Jan 27, 2026 | “We also compete against companies who participate within the hyperscale computing infrastructure market including Jabil Inc., Celestica, Flex Ltd., Quanta Computer Inc. and Wiwynn Corporation.” |
| customer | F5, INC. (FFIV) | 10-K Nov 25, 2025 | “We outsource the manufacturing of our products to various manufacturing partners, including our primary third-party manufacturer service provider, Flex Ltd. ("Flex"), to manufacture our hardware systems according to our specifications.” |
| competitor | SANMINA CORP (SANM) | 10-K Nov 13, 2025 | “Our competitors include major global EMS providers, including Benchmark Electronics, Inc., Celestica, Inc., Flex Ltd., Hon Hai Precision Industry Co., Ltd. (Foxconn), Jabil Inc. and Plexus Corp., as well as other companies that have a regional, product, service or industry-specific focus.” |
FLEX customer concentration
In the period ended Jun 26, 2026, a single direct customer accounted for 12% of revenue, per the company's 10-Q filed Jul 31, 2026. The company does not name it.
FLEX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.06 | $1.00 | +5.6% | $8.18B | 10 |
| Next quarter (ends Dec 2026) | $1.18 | $1.19 | -0.9% | $9.07B | 2 |
| Current fiscal year (ends Mar 2027) | $4.63 | $4.55 | +1.7% | $35.06B | 2 |
| Next fiscal year (ends Mar 2028) | $7.38 | $6.92 | +6.6% | $46.09B | 2 |
FLEX options: expected move
Options price a move of about ±20.4% (±$15.70) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±9.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 91.7% | ±20.4% |
| Dec 18, 2026 | 56 | 77.9% | ±24.3% |
| Jan 15, 2027 | 84 | 73.4% | ±27.9% |
| Feb 19, 2027 | 119 | 70.4% | ±31.7% |
| Apr 16, 2027 | 175 | 69.9% | ±38.0% |
30-day implied volatility 86.2% vs 67.4% realized over the last 30 trading days. Put/call ratio (volume) 0.41. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:22 UTC)
| Price | USD 76.69 |
|---|---|
| Change | ▼ 11.08% (down) |
| Previous Close | USD 86.25 |
| Open | USD 82.87 |
| Day Range | USD 76.21 – 83.19 |
| 52-Week Range | USD 53.07 – 166.86 |
| Volume | 11,005,835 shares |
| Market Cap | $28.33B |
| Exchange | NMS |
Technical Analysis (FLEX)
Nexqual's technical model rates FLEX "SELL" based on 3 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:22 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 23.24 (oversold) |
| vs SMA50 | Below (USD 109.98) |
| MACD | -7.7 (negative) |
Analyst Ratings (FLEX)
Wall Street analysts rate FLEX "Buy" based on 11 analysts, with a mean price target of USD 158.9 (range USD 135–180), per Nexqual as of October 23, 2026 at 09:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 11 |
| Mean Target | USD 158.9 |
| High Target | USD 180 |
| Low Target | USD 135 |
| Buy / Hold / Sell | 11 / 0 / 0 |
Earnings (FLEX)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 1.06 |
| Revenue Estimate | $8.18B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1 vs est 0.92 ▲ beat |
| 2026-03-31 | USD 0.93 vs est 0.88 ▲ beat |
| 2025-12-31 | USD 0.87 vs est 0.79 ▲ beat |
| 2025-09-30 | USD 0.79 vs est 0.76 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Financials & Fundamentals (FLEX)
| Total Revenue | $29.27B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +20.60% |
| Gross Margin | +9.53% |
| Operating Margin | +4.97% |
| Profit Margin | +3.33% |
| ROE | +18.38% |
| Debt / Equity | 1.08 |
| Current Ratio | 1.38 |
| Total Cash | $2.84B |
| Total Debt | $5.93B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $826.00M (2.8% of revenue) |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Financial Health Score (FLEX)
Nexqual rates Flex Ltd.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:22 UTC.
| Growth | Solid — Revenue +8% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 10%, operating 5% (last 12 months) |
| Balance Sheet | Mixed — $2.84B cash and investments vs $5.22B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $826M (last 4 quarters to Jun 2026, SEC), slim 2.8% margin |
| Efficiency | Solid — ROE 18%, ROA 4.4% |
Ownership (FLEX)
| Insider Ownership | +0.60% |
|---|---|
| Institutional Ownership | +96.41% |
| Shares Outstanding | 369.46M |
| Float | 366.61M |
| Short % of Float | +2.41% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Leadership (FLEX)
Flex Ltd. is led by Revathi Advaithi, CEO & Director, per Nexqual as of October 23, 2026 at 09:22 UTC.
| CEO & Director | Revathi Advaithi |
|---|---|
| President & Chief Commercial Officer | Michael P. Hartung |
| Chief Financial Officer | Kevin S. Krumm |
| Chief Operating Officer | Kwanghooi Tan |
| Senior Vice President of Global Investor Relations & Public Relations | Michelle Simmons |
Major Backers & Investors (FLEX)
Notable institutional backers of Flex Ltd. include Primecap Management Company, FMR, LLC, Wellington Management, according to Nexqual as of October 23, 2026 at 09:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Primecap Management Company | 6.32% |
| FMR, LLC | 5.29% |
| Wellington Management | 4.87% |
| Jupiter Topco LLC | 3.81% |
| Fidelity | 2.78% |
| Boston Partners | 2.33% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.64% |
| BlackRock | 11.4% |
| State Street | 4.6% |
| Geode Capital | 2.78% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
From Flex Ltd.'s Latest SEC 10-K Filing (filed 2026-05-20)
Key Strengths & Strategy (as disclosed to the SEC)
- We offer industry-leading global design and engineering services, with extensive product design and engineering resources that provide design, product development, and systems integration to satisfy a wide array of customer requirements, including: We provide differentiated offerings to support major technology transitions as well as specialized capabilities across the product lifecycle, such as mechanicals, plastics, and advanced printed circuit board assembly ("PCBA").
- Flex is the advanced, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage products that improve the world.
- Our end-to-end services include all processes necessary to design, build, deliver, and manage a wide range of products for customers.
- For certain of our proprietary processes, inventions, and works of authorship, we rely on trade secret or copyright protection.
Partnerships
- Our business requires close collaboration with our customers and suppliers to mitigate risks of non-compliance with these laws and regulations.
Legal & Regulatory Risks (Item 1A, quoted)
- Litigation, investigations, or enforcement actions could result in significant liabilities, operational restrictions, and reputational harm.
- We are subject to complex and evolving trade policies, export controls, and sanctions, and failure to comply or adapt to changes in these regimes could restrict our business or result in significant penalties.
- Failure to comply with data privacy and cybersecurity laws and regulations could expose us to government enforcement, significant penalties, civil litigation, and reputational harm.
- Our activities may expose us, our suppliers, and our customers to claims that our services, products, processes, designs, or components infringe, misappropriate, or otherwise violate third-party intellectual property rights, or that we have breached license or other contractual provisions.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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| TTMI | TTM Technologies, Inc. | USD 73.89 | ▼ 27.67% |
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt