Avnet Inc Stock Research

Market Summary

USD43.34+0.35

Market Closed

0.81%

AVT Alerts

Big jump in Earnings (Y/Y)

AVT Stock Price

AVT RSI Chart

AVT Valuation

Market Cap

4.0B

Price/Earnings (Trailing)

4.6

Price/Sales (Trailing)

0.15

EV/EBITDA

3.01

Price/Free Cashflow

-3.73

AVT Price/Sales (Trailing)

AVT Profitability

Operating Margin

11.95%

EBT Margin

3.97%

Return on Equity

19.38%

Return on Assets

7.2%

Free Cashflow Yield

-26.84%

AVT Fundamentals

AVT Revenue

Revenue (TTM)

26.3B

Revenue Y/Y

14.53%

Revenue Q/Q

-0.48%

AVT Earnings

Earnings (TTM)

858.4M

Earnings Y/Y

61.71%

Earnings Q/Q

32.36%

Price Action

52 Week Range

35.4549.92

(Low)(High)

Last 7 days

0.1%

Last 30 days

-4.6%

Last 90 days

3.8%

Trailing 12 Months

2.2%

AVT Financial Health

Current Ratio

2.54

AVT Investor Care

Dividend Yield

2.54%

Dividend/Share (TTM)

1.1

Buy Backs (1Y)

7.92%

Diluted EPS (TTM)

8.9

Peers (Alternatives to Avnet)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TEL	39.5B	16.3B	-1.61%	-4.17%	17.5	2.42	7.13%	-7.65%
KEYS	33.7B	5.4B	-1.89%	-1.50%	30.02	6.23	9.69%	25.73%
GLW	27.8B	14.2B	-4.56%	-12.29%	21.11	1.96	0.76%	-30.95%
CDW	26.0B	23.7B	-5.75%	10.01%	23.31	1.09	14.06%	12.74%
ZBRA	14.9B	5.8B	-5.29%	-32.44%	30.01	2.57	2.74%	-44.68%
JBL	11.2B	34.5B	1.15%	34.23%	11.44	0.32	15.08%	32.70%
MID-CAP
SNX	8.7B	62.3B	-5.76%	-13.04%	13.4	0.14	97.20%	64.86%
DLB	7.9B	1.2B	0.58%	9.22%	43.3	6.42	-0.48%	-28.07%
ARW	7.6B	37.1B	-1.30%	-6.29%	5.31	0.2	7.68%	28.76%
AVT	4.0B	26.3B	-4.62%	2.23%	4.6	0.15	21.93%	88.67%
SMALL-CAP
SCSC	737.2M	3.8B	-6.55%	-16.98%	7.91	0.2	13.89%	13.53%
WSTG	148.4M	291.0M	9.58%	18.41%	13.27	0.51	4.46%	35.11%
UUU	5.1M	20.5M	-24.62%	-44.64%	25.68	0.25	12.52%	166.84%

Financials for Avnet

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.3%	26,328	25,476	24,311	23,165	21,593
Cost Of Revenue	3.5%	23,184	22,402	21,345	20,334	19,007
Gross Profit	2.3%	3,145	3,074	2,965	2,831	2,586
S&GA Expenses	-0.8%	1,970	1,986	1,995	1,998	1,949
EBITDA	14.1%	1,205	1,057	934	770	-
EBITDA Margin	10.4%	0.05*	0.04*	0.04*	0.03*	-
Earnings Before Taxes	11.9%	1,045	934	833	676	499
EBT Margin	8.3%	0.04*	0.04*	0.03*	0.03*	-
Interest Expenses	30.5%	160	123	100	94.00	90.00
Net Income	12.2%	858	765	692	531	455
Net Income Margin	8.5%	0.03*	0.03*	0.03*	0.02*	-
Free Cahsflow	-18.1%	-1,060	-898	-268	-171	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	8.8%	11,930	10,968	10,389	9,782	9,581
Current Assets	8.3%	10,304	9,510	8,877	8,218	7,944
Cash Equivalents	301.6%	325	81.00	154	199	168
Inventory	6.8%	4,973	4,655	4,244	3,681	3,543
Net PPE	26.1%	378	300	315	323	338
Goodwill	7.3%	755	704	759	805	824
Liabilities	7.9%	7,500	6,949	6,196	5,525	5,378
Current Liabilities	-12.9%	4,058	4,659	4,252	4,066	3,689
LT Debt, Non Current	63.2%	2,980	1,826	1,437	922	1,145
Shareholder's Equity	10.2%	4,430	4,019	4,193	4,257	4,203
Retained Earnings	5.3%	3,089	2,934	2,921	2,800	2,686
Additional Paid-In Capital	0.8%	1,679	1,666	1,657	1,645	1,643
Shares Outstanding	-3.0%	91.00	94.00	99.00	99.00	-
Float	-	4,025	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-10.7%	-922	-833	-219	-125	-379
Share Based Compensation	5.6%	39.00	36.00	37.00	36.00	34.00
Cashflow From Investing	-391.1%	-122	42.00	51.00	41.00	33.00
Cashflow From Financing	101.6%	1,213	602	156	-9.29	158
Dividend Payments	2.6%	104	102	99.00	95.00	93.00
Buy Backs	9.0%	353	324	184	121	92.00

Risks for AVT

What is the probability of a big loss on AVT?

51.1%

Probability that Avnet stock will be more than 20% underwater in next one year

19.6%

Probability that Avnet stock will be more than 30% underwater in next one year.

17.3%

Probability that Avnet stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AVT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Avnet was unfortunately bought at previous high price.

Drawdowns

Returns for AVT

Cumulative Returns on AVT

3.8%

10-Year Cumulative Returns

1.7%

7-Year Cumulative Returns

3.1%

5-Year Cumulative Returns

21.6%

3-Year Cumulative Returns

What are the long-term rolling returns for AVT?

FIve years rolling returns for Avnet.

Annualized Returns

Which funds bought or sold AVT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-24.84	-7,371,800	47,340,200	0.05%
2023-03-06	Rockefeller Capital Management L.P.	added	1.84	5,000	30,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-2.1	721,819	6,403,820	0.01%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-7.9	35,000	630,000	0.01%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	1,938	9,938	-%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-38.06	-141,859	352,141	0.01%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-90,000	-	-%
2023-02-17	TRUIST FINANCIAL CORP	added	10.23	167,326	787,326	-%
2023-02-16	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main	added	1.84	448,775	3,046,780	-%
2023-02-15	LAZARD ASSET MANAGEMENT LLC	added	14.88	36,000	146,000	-%

Latest Funds Activity

Are funds buying AVT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AVT

No. of Funds

AVT Alerts

Big jump in Earnings (Y/Y)

Avnet News

Schedule 13G FIlings of Avnet

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.17%	10,224,425	SC 13G/A
Jan 24, 2023	blackrock inc.	9.5%	8,726,739	SC 13G/A
Jan 20, 2023	pzena investment management llc	10.14%	9,282,603	SC 13G/A
Sep 08, 2022	blackrock inc.	10.0%	9,474,276	SC 13G
Feb 09, 2022	vanguard group inc	10.85%	10,763,264	SC 13G/A
Feb 01, 2022	blackrock inc.	9.6%	9,551,529	SC 13G/A
Jan 19, 2022	pzena investment management llc	12.28%	12,185,337	SC 13G/A
Feb 10, 2021	vanguard group inc	10.81%	10,680,640	SC 13G/A
Jan 29, 2021	blackrock inc.	8.8%	8,677,865	SC 13G/A
Jan 29, 2021	pzena investment management llc	12.71%	12,561,805	SC 13G/A

AVT Fair Value

Avnet fair value in different scenarios

The table shows the Fair Value estimates for Avnet for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	76.36 76.19%	94.33 117.65%	159.56 268.16%	203.99 370.67%	300.88 594.23%
Current Inflation	71.30 64.51%	86.87 100.44%	142.46 228.70%	179.75 314.74%	262.50 505.68%
Very High Inflation	64.98 49.93%	77.74 79.37%	122.27 182.12%	151.56 249.70%	218.26 403.60%

Historical Avnet Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Avnet

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 08, 2023	424B2	Prospectus Filed
Mar 08, 2023	8-K	Current Report
Mar 06, 2023	424B2	Prospectus Filed
Mar 06, 2023	FWP	Prospectus Filed
Feb 10, 2023	SC 13G	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for AVT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-06	Obregon-Jimenez Rebeca	sold (taxes)	-45,516	41.53	-1,096	svp
2023-01-05	Arnold Ken E.	sold (taxes)	-113,958	41.53	-2,744	svp, chief people officer
2023-01-05	GALLAGHER PHILIP R	sold (taxes)	-918,021	41.53	-22,105	chief executive officer
2023-01-05	Chan Leng Jin	sold (taxes)	-105,154	41.53	-2,532	svp, cio
2023-01-05	McCoy Michael Ryan	sold (taxes)	-132,190	41.53	-3,183	svp, general counsel
2023-01-05	JACOBSON KENNETH A	sold (taxes)	-154,492	41.53	-3,720	chief financial officer
2023-01-05	McMullen Elizabeth	sold (taxes)	-70,933	41.53	-1,708	senior vp - operations
2023-01-03	Modjtabai Avid	acquired	-	-	4,334	-
2023-01-03	Jenkins Jo Ann	acquired	-	-	4,334	-
2023-01-03	LAWRENCE JAMES A	acquired	-	-	4,334	-

About Avnet

AVT Income Statement

2022-10-01

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Income Statement [Abstract]
Sales	$ 6,750,133	$ 5,584,695
Revenue, Product and Service [Extensible List]	us-gaap:TechnologyServiceMember	us-gaap:TechnologyServiceMember
Cost of sales	$ 5,981,960	$ 4,925,002
Cost, Product and Service [Extensible List]	us-gaap:TechnologyServiceMember	us-gaap:TechnologyServiceMember
Gross profit	$ 768,173	$ 659,693
Selling, general and administrative expenses	477,636	486,178
Restructuring, integration and other expenses		5,272
Operating income	290,537	168,243
Other income (expense), net	323	(409)
Interest and other financing expenses, net	(45,098)	(22,844)
Income before taxes	245,762	144,990
Income tax expense	61,501	33,672
Net income	$ 184,261	$ 111,318
Earnings per share:
Basic	$ 1.96	$ 1.12
Diluted	$ 1.93	$ 1.10
Shares used to compute earnings per share:
Basic	94,051	99,647
Diluted	95,636	101,116
Cash dividends paid per common share	$ 0.29	$ 0.24

AVT Balance Sheet

2022-10-01

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2022	Jul. 02, 2022
Current assets:
Cash and cash equivalents	$ 80,881	$ 153,693
Receivables	4,591,020	4,301,002
Inventories	4,654,985	4,244,148
Prepaid and other current assets	183,019	177,783
Total current assets	9,509,905	8,876,626
Property, plant and equipment, net	300,068	315,204
Goodwill	703,828	758,833
Operating lease assets	226,960	227,138
Other assets	227,645	210,731
Total assets	10,968,406	10,388,532
Current liabilities:
Short-term debt	513,000	174,422
Accounts payable	3,466,620	3,431,683
Accrued expenses and other	624,959	591,020
Short-term operating lease liabilities	54,612	54,529
Total current liabilities	4,659,191	4,251,654
Long-term debt	1,825,514	1,437,400
Long-term operating lease liabilities	196,908	199,418
Other liabilities	267,458	307,300
Total liabilities	6,949,071	6,195,772
Commitments and contingencies (Note 7)
Shareholders' equity:
Common stock $1.00 par; authorized 300,000,000 shares; issued 92,328,956 shares and 95,701,630 shares, respectively	92,329	95,702
Additional paid-in capital	1,665,846	1,656,907
Retained earnings	2,934,205	2,921,399
Accumulated other comprehensive loss	(673,045)	(481,248)
Total shareholders' equity	4,019,335	4,192,760
Total liabilities and shareholders' equity	$ 10,968,406	$ 10,388,532