FLEX financial statements

The full income statement, balance sheet, and cash-flow statement for Flex Ltd. (FLEX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 397.1M2024-09 387.8M2024-12 383.1M2025-03 373.3M2025-06 375.3M2025-09 369.8M2025-12 367.7M2026-03 366.4M2026-06 369.4M-7.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2026	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Revenue	27.9B YoY+8.1%	25.8B YoY-2.3%	26.4B YoY-7.3%	28.5B YoY+15.7%	24.6B YoY+2.1%
	2.57B YoY+18.9%	2.16B YoY+15.8%	1.86B YoY-5.6%	1.98B YoY+11.0%	1.78B YoY+5.5%
Cost of revenue	25.3B YoY+7.2%	23.6B YoY-3.3%	24.4B YoY-8.0%	26.5B YoY+16.0%	22.8B YoY+2.2%
Selling, general & administrative	1.05B YoY+16.4%	904M YoY-2.0%	922M YoY+5.5%	874M YoY+5.3%	830M YoY+1.6%
Restructuring	87.0M YoY+1.2%	86.0M YoY-50.9%	175M YoY+548.1%	27.0M YoY+80.0%	15.0M YoY-85.1%
Amortization of intangibles	68.0M YoY-2.9%	70.0M YoY+0.0%	70.0M YoY-13.6%	81.0M YoY+35.0%	60.0M YoY-3.2%
Provision for credit losses	—	—	9.00M YoY+200.0%	3.00M YoY+200.0%	-3.00M YoY-160.0%
Operating income	1.37B YoY+17.0%	1.17B YoY+37.0%	853M YoY-16.1%	1.02B YoY+14.3%	890M YoY+11.9%
Interest expense	215M YoY-1.4%	218M YoY+5.3%	207M YoY-10.0%	230M YoY+38.6%	166M YoY+10.7%
Interest & investment income	51.0M YoY-16.4%	61.0M YoY+8.9%	56.0M YoY+86.7%	30.0M YoY+114.3%	14.0M YoY+0.0%
Net interest income	—	—	—	-201M YoY-32.2%	-152M YoY-2.7%
Other non-operating income	-30.0M YoY-314.3%	14.0M YoY+131.8%	-44.0M YoY-633.3%	-6.00M YoY-103.6%	165M YoY+1131.3%
Equity-method income	-31.0M YoY-933.3%	-3.00M YoY-137.5%	8.00M YoY+300.0%	-4.00M YoY-106.6%	61.0M YoY-26.5%
Pre-tax income	1.14B YoY+11.7%	1.02B YoY+53.6%	666M YoY-17.5%	807M YoY-16.3%	964M YoY+35.0%
Income tax	263M YoY+42.2%	185M YoY+189.8%	-206M YoY-266.1%	124M YoY+34.8%	92.0M YoY-8.9%
	880M YoY+5.0%	838M YoY-16.7%	1.01B YoY+26.9%	793M YoY-15.3%	936M YoY+52.7%
Discontinued operations	0.00	0.00 YoY-100.0%	373M YoY+6.6%	350M YoY+414.7%	68.0M
Net income to non-controlling interest	0.00	0.00 YoY-100.0%	239M YoY-0.4%	240M YoY+5900.0%	4.00M
	$2.33 YoY+10.4%	$2.11 YoY-7.5%	$2.28 YoY+32.6%	$1.72 YoY-11.3%	$1.94 YoY+60.3%
EPS (basic)	$2.37 YoY+10.7%	$2.14 YoY-7.4%	$2.31 YoY+32.0%	$1.75 YoY-11.2%	$1.97 YoY+60.2%
	371M YoY-5.1%	391M YoY-10.1%	435M YoY-4.2%	454M YoY-4.6%	476M YoY-4.6%
	378M YoY-5.0%	398M YoY-9.8%	441M YoY-4.5%	462M YoY-4.3%	483M YoY-4.5%
Balance Sheet	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
	16.3B YoY+27.2%	12.8B YoY-1.2%	13.0B YoY-19.0%	16.0B YoY+11.8%	14.3B YoY+26.2%
Cash & equivalents	2.39B YoY+4.4%	2.29B YoY-7.5%	2.47B YoY-21.8%	3.16B YoY+6.7%	2.96B YoY+12.4%
Accounts receivable	4.68B YoY+27.5%	3.67B YoY+21.0%	3.03B YoY-12.8%	3.48B YoY+3.2%	3.37B YoY-14.9%
Inventory	5.84B YoY+15.3%	5.07B YoY-18.3%	6.21B YoY-16.0%	7.39B YoY+12.3%	6.58B YoY+68.9%
Other current assets	2.36B YoY+97.3%	1.19B YoY+15.8%	1.03B YoY+17.8%	875M YoY-3.1%	903M YoY+53.1%
	22.1B YoY+20.0%	18.4B YoY+0.7%	18.3B YoY-14.7%	21.4B YoY+10.8%	19.3B YoY+22.0%
Property, plant & equipment	2.50B YoY+7.5%	2.33B YoY+2.7%	2.27B YoY-3.1%	2.34B YoY+10.2%	2.13B YoY+1.3%
Operating lease right-of-use	659M YoY+17.3%	562M YoY-6.5%	601M YoY-0.7%	605M YoY-5.0%	637M YoY-0.8%
Goodwill	1.37B YoY+2.1%	1.34B YoY+18.1%	1.14B YoY-0.4%	1.14B YoY+0.1%	1.14B YoY+4.4%
Intangible assets	283M YoY-17.5%	343M YoY+40.0%	245M YoY-22.2%	315M YoY-23.4%	411M YoY+93.0%
Deferred tax assets	538M YoY-6.8%	577M YoY-10.4%	644M YoY+292.7%	164M YoY-7.3%	177M YoY+7.3%
Other non-current assets	912M YoY-5.4%	964M YoY-5.0%	1.01B YoY+107.1%	490M YoY+3.6%	473M YoY+9.7%
	12.0B YoY+22.0%	9.85B YoY+15.4%	8.54B YoY-21.4%	10.9B YoY+1.5%	10.7B YoY+36.7%
Accounts payable	8.05B YoY+56.5%	5.15B YoY+15.2%	4.47B YoY-21.9%	5.72B YoY-8.5%	6.25B YoY+19.2%
Deferred revenue	—	—	—	—	615M YoY-27.5%
Short-term & current debt	0.00 YoY-100.0%	1.21B	0.00 YoY-100.0%	150M YoY-84.2%	949M YoY+254.1%
Current lease liability	149M YoY+10.4%	135M YoY-0.7%	136M YoY+9.7%	124M YoY-6.1%	132M YoY+3.4%
Other current liabilities	1.13B YoY+16.1%	977M YoY+0.9%	968M YoY-5.0%	1.02B YoY-1.6%	1.04B YoY+3.8%
	16.9B YoY+26.4%	13.4B YoY+3.5%	12.9B YoY-17.6%	15.7B YoY+3.9%	15.1B YoY+21.9%
Long-term debt	3.75B YoY+51.1%	2.48B YoY-23.9%	3.26B YoY-8.0%	3.54B YoY+9.1%	3.25B YoY-7.6%
Non-current lease liability	565M YoY+23.9%	456M YoY-6.9%	490M YoY-2.8%	504M YoY-8.5%	551M YoY-2.0%
Operating lease liability (total)	714M YoY+20.8%	591M YoY-5.6%	626M YoY-0.3%	628M YoY-8.1%	683M YoY-1.0%
Deferred tax liabilities	111M YoY-25.5%	149M YoY-16.3%	178M YoY+150.7%	71.0M YoY-17.4%	86.0M YoY+43.3%
Other non-current liabilities	584M YoY-1.0%	590M YoY-8.1%	642M YoY+15.9%	554M YoY-8.9%	608M YoY+24.3%
	5.14B YoY+2.8%	5.00B YoY-6.1%	5.33B YoY-0.5%	5.35B YoY+29.6%	4.13B YoY+20.2%
Retained earnings	2.16B YoY+68.5%	1.28B YoY+187.9%	446M YoY+179.6%	-560M YoY+58.6%	-1.35B YoY+40.9%
Treasury stock	200M YoY+0.0%	200M	0.00 YoY-100.0%	388M YoY+0.0%	388M YoY+0.0%
Accumulated other comprehensive income	-167M YoY+25.4%	-224M YoY-14.9%	-195M YoY-0.5%	-194M YoY-6.6%	-182M YoY-52.9%
Non-controlling interest	—	—	0.00 YoY-100.0%	355M	0.00
Total equity incl. non-controlling	5.14B YoY+2.8%	5.00B YoY-6.1%	5.33B YoY-6.7%	5.71B YoY+38.2%	4.13B YoY+20.2%
Total liabilities & equity	22.1B YoY+20.0%	18.4B YoY+0.7%	18.3B YoY-14.7%	21.4B YoY+10.8%	19.3B YoY+22.0%
	371M YoY-3.2%	383M YoY-6.1%	408M YoY-18.4%	500M YoY-2.0%	511M YoY-5.9%
	366M YoY-3.2%	378M YoY-7.4%	408M YoY-9.3%	450M YoY-2.3%	461M YoY-6.5%
	366M YoY-1.9%	373M YoY-7.1%	402M YoY-9.6%	444M YoY-2.9%	458M YoY-6.7%
Cash Flow	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
	1.69B YoY+12.0%	1.50B YoY+13.5%	1.33B YoY+39.6%	950M YoY-7.2%	1.02B YoY+611.1%
Depreciation & amortization	525M YoY+3.1%	509M YoY+1.6%	501M YoY+1.2%	495M YoY+5.5%	469M YoY-3.1%
Intangible amortization	68.0M YoY-2.9%	70.0M YoY+0.0%	70.0M YoY-13.6%	81.0M YoY+35.0%	60.0M YoY-3.2%
Share-based compensation	142M YoY+13.6%	125M YoY-17.8%	152M YoY+14.3%	133M YoY+46.2%	91.0M YoY+15.2%
Deferred income taxes	38.0M YoY-30.9%	55.0M YoY+114.9%	-370M YoY-37100.0%	1.00M YoY+102.3%	-44.0M YoY-780.0%
Change in receivables	979M YoY+62.9%	601M YoY+258.2%	-380M YoY-197.9%	388M YoY+162.2%	-624M YoY-138.6%
Change in inventory	742M YoY+163.1%	-1.18B YoY-6.4%	-1.10B YoY-213.4%	974M YoY-63.3%	2.65B YoY+2665.6%
Change in payables	2.86B YoY+353.7%	630M YoY+163.9%	-986M YoY-189.1%	-341M YoY-135.2%	969M YoY+840.8%
	-672M YoY+19.8%	-838M YoY-70.3%	-492M YoY+18.5%	-604M YoY+36.5%	-951M YoY-370.8%
Capital expenditure	633M YoY+44.5%	438M YoY-17.4%	530M YoY-16.5%	635M YoY+43.3%	443M YoY+26.2%
Free cash flow	1.05B YoY-1.4%	1.07B YoY+34.0%	796M YoY+152.7%	315M YoY-45.8%	581M YoY+380.7%
Acquisitions	40.0M YoY-90.1%	405M	0.00 YoY+100.0%	-2.00M YoY-100.4%	539M
Proceeds from sale of PP&E	8.00M YoY-46.7%	15.0M YoY-40.0%	25.0M YoY+25.0%	20.0M YoY+81.8%	11.0M YoY-87.1%
Other investing activities	3.00M YoY+127.3%	-11.0M YoY-1000.0%	-1.00M YoY+85.7%	-7.00M YoY+36.4%	-11.0M YoY+83.6%
	-924M YoY-12.5%	-821M YoY+50.4%	-1.66B YoY-82900.0%	2.00M YoY-99.3%	280M YoY-62.3%
Long-term debt issued	1.25B YoY+150.7%	499M YoY+24850.0%	2.00M YoY-99.7%	718M YoY-5.4%	759M YoY-63.2%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00 YoY-100.0%	552M YoY-20.5%	694M	0.00
Common stock repurchased	944M YoY-24.9%	1.26B YoY-3.2%	1.30B YoY+285.2%	337M YoY-50.9%	686M YoY+274.9%
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	-14.0M YoY-180.0%	-5.00M YoY+93.6%	-78.0M YoY-188.9%	-27.0M YoY-1000.0%	3.00M YoY+0.0%
FX effect on cash	11.0M YoY+135.5%	-31.0M YoY-1650.0%	2.00M YoY+111.1%	-18.0M YoY+30.8%	-26.0M YoY-189.7%
Net change in cash	100M YoY+154.1%	-185M YoY+77.4%	-820M YoY-348.5%	330M YoY+0.9%	327M YoY-54.2%
Interest paid	212M YoY-0.9%	214M YoY-5.3%	226M YoY-0.4%	227M YoY+34.3%	169M YoY+15.0%
Income taxes paid	323M YoY+75.5%	184M YoY-24.3%	243M YoY+96.0%	124M YoY+1.6%	122M YoY+16.2%
Valuation Ratios	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Market cap	24.0B YoY+94.2%	12.3B YoY+2.5%	12.0B YoY+56.3%	7.71B YoY+20.5%	6.40B YoY-5.5%
P/E	27.3× YoY+84.9%	14.7× YoY-7.9%	16.0× YoY+64.6%	9.7× YoY+42.2%	6.8× YoY-38.1%
P/S	0.9× YoY+79.6%	0.5× YoY+8.1%	0.4× YoY+63.6%	0.3× YoY+4.1%	0.3× YoY-7.5%
P/B	4.7× YoY+88.8%	2.5× YoY+22.2%	2.0× YoY+40.2%	1.4× YoY-7.0%	1.5× YoY-21.4%
P/FCF	22.8× YoY+97.0%	11.6× YoY-55.0%	25.7× YoY+5.2%	24.5× YoY+122.2%	11.0×
	3.7% YoY-45.9%	6.8% YoY+8.6%	6.2% YoY-39.3%	10.3% YoY-29.7%	14.6% YoY+61.6%
	4.4% YoY-49.2%	8.6% YoY+122.5%	3.9% YoY-5.0%	4.1% YoY-55.0%	9.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: FLEX's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all FLEX filings on SEC EDGAR → Not investment advice.