Flex Ltd Stock Research

Market Summary

USD26.13+0.59

Delayed

2.31%

FLEX Stock Price

FLEX RSI Chart

FLEX Valuation

Market Cap

11.8B

Price/Earnings (Trailing)

14.41

Price/Sales (Trailing)

0.4

EV/EBITDA

6.66

Price/Free Cashflow

40.01

FLEX Price/Sales (Trailing)

FLEX Profitability

EBT Margin

3.24%

Return on Equity

18.18%

Return on Assets

3.92%

Free Cashflow Yield

2.5%

FLEX Fundamentals

FLEX Revenue

Revenue (TTM)

29.7B

Revenue Y/Y

17.18%

Revenue Q/Q

-0.13%

FLEX Earnings

Earnings (TTM)

819.0M

Earnings Y/Y

1.32%

Earnings Q/Q

-0.86%

Price Action

52 Week Range

13.6326.27

(Low)(High)

Last 7 days

0.9%

Last 30 days

29.9%

Last 90 days

14.1%

Trailing 12 Months

51.2%

FLEX Financial Health

Current Ratio

1.36

FLEX Investor Care

Buy Backs (1Y)

3.70%

Diluted EPS (TTM)

1.76

Peers (Alternatives to Flex)

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
APH	46.2B	12.6B	3.66%	9.00%	24.1	3.65	10.43%	13.56%
KEYS	29.1B	5.6B	14.51%	9.73%	25.16	5.2	8.73%	21.45%
GLW	26.5B	13.7B	-0.51%	-12.30%	28.4	1.93	-5.42%	-50.77%
ZBRA	14.9B	5.8B	7.55%	-19.90%	30.01	2.57	0.74%	-49.88%
JBL	12.3B	35.1B	19.21%	48.37%	12.77	0.35	14.26%	19.33%
MID-CAP
FLEX	11.8B	29.7B	29.87%	51.22%	14.41	0.4	16.75%	-18.83%
IPGP	5.3B	1.4B	-5.14%	7.25%	53.02	3.79	-5.29%	-64.10%
SANM	3.1B	8.9B	3.36%	23.23%	10.22	0.35	27.72%	7.28%
VSH	3.1B	3.5B	25.05%	28.12%	7.24	0.89	5.56%	32.27%
PLXS	2.6B	4.3B	7.75%	11.08%	15.17	0.61	26.94%	53.71%
SMALL-CAP
OSIS	2.0B	1.2B	2.58%	42.86%	24.44	1.69	2.10%	-22.63%
CTS	1.5B	585.2M	14.16%	12.97%	25.51	2.51	9.95%	271.58%
TTMI	1.4B	2.5B	20.32%	-5.57%	19.71	0.57	6.71%	-4.45%
BHE	869.4M	2.9B	11.96%	-4.51%	12.49	0.3	23.44%	79.40%
LASR	653.9M	242.1M	54.92%	8.15%	-11.98	2.7	-10.40%	-83.96%

Financials for Flex

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.0%	29,720	28,583	27,046	26,041	25,456
Gross Profit	4.3%	2,214	2,122	1,996	1,932	1,936
S&GA Expenses	1.9%	983	965	933	892	838
EBITDA	1.4%	1,551	1,529	1,616	1,607	-
EBITDA Margin	-2.4%	0.05*	0.05*	0.06*	0.06*	-
Earnings Before Taxes	2.0%	963	944	1,043	1,045	1,107
EBT Margin	-1.9%	0.03*	0.03*	0.04*	0.04*	-
Interest Expenses	4.4%	165	158	153	153	-
Net Income	0.4%	819	816	920	937	1,009
Net Income Margin	-3.5%	0.03*	0.03*	0.03*	0.04*	-
Free Cahsflow	141.8%	295	122	296	581	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.3%	20,892	20,623	20,054	19,325	18,175
Current Assets	1.2%	15,819	15,630	15,147	14,337	13,213
Cash Equivalents	4.6%	2,565	2,453	2,647	2,964	2,574
Inventory	1.4%	7,838	7,726	7,243	6,580	5,958
Net PPE	4.0%	2,289	2,201	2,135	2,125	2,112
Goodwill	1.1%	1,340	1,325	1,336	1,342	272
Liabilities	-0.4%	16,290	16,353	15,879	15,118	-
Current Liabilities	-3.9%	11,668	12,146	11,590	10,711	9,642
LT Debt, Current	-46.1%	494	916	946	949	648
LT Debt, Non Current	14.3%	3,522	3,081	3,129	3,248	3,798
Shareholder's Equity	7.8%	4,505	4,180	4,091	4,129	3,655
Retained Earnings	24.7%	-702	-932	-1,164	-1,353	-1,520
Accumulated Depreciation	-	3,979	-	-	-	-
Shares Outstanding	-0.4%	452	454	458	461	469

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	32.1%	860	651	728	1,024	825
Share Based Compensation	-	91.00	-	-	-	-
Cashflow From Investing	46.2%	-548	-1,019	-927	-951	-804
Cashflow From Financing	-159.7%	-281	471	236	280	-42.00
Buy Backs	-11.1%	399	449	705	686	725

Risks for FLEX

What is the probability of a big loss on FLEX?

70.4%

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

45.8%

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

38.9%

Probability that Flex 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 FLEX drawdown profile look like?

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

Drawdowns

Returns for FLEX

Cumulative Returns on FLEX

13.1%

10-Year Cumulative Returns

10.8%

7-Year Cumulative Returns

13.4%

5-Year Cumulative Returns

35.8%

3-Year Cumulative Returns

What are the long-term rolling returns for FLEX?

FIve years rolling returns for Flex.

Annualized Returns

Which funds bought or sold FLEX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-06-01	PRELUDE CAPITAL MANAGEMENT, LLC	sold off	-100	-274,066	-	-%
2023-06-01	MACQUARIE GROUP LTD	reduced	-11.32	-8,554,000	165,611,000	0.20%
2023-05-23	Front Row Advisors LLC	reduced	-2.25	2,000	43,000	0.02%
2023-05-23	ROYCE & ASSOCIATES LP	reduced	-4.94	204,382	10,807,400	0.11%
2023-05-22	American Trust	reduced	-2.02	14,400	299,153	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-21.27	-1,901,360	10,297,600	-%
2023-05-19	Anson Funds Management LP	added	100	1,473,600	2,761,200	0.23%
2023-05-18	JPMORGAN CHASE & CO	reduced	-12.33	-1,127,610	17,667,400	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	274	2,450,000	3,264,000	-%
2023-05-17	Long Focus Capital Management, LLC	reduced	-20.19	-1,648,200	9,779,250	0.55%

Latest Funds Activity

Are funds buying FLEX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own FLEX

No. of Funds

Flex News

Schedule 13G FIlings of Flex

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	janus henderson group plc	5.9%	26,869,680	SC 13G
Feb 09, 2023	primecap management co/ca/	11.46%	51,875,426	SC 13G/A
Feb 06, 2023	wellington management group llp	6.95%	31,484,108	SC 13G/A
Sep 12, 2022	fmr llc	-	0	SC 13G/A
Feb 10, 2022	primecap management co/ca/	11.69%	55,019,450	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 04, 2022	wellington management group llp	8.70%	40,954,007	SC 13G/A
Mar 10, 2021	fmr llc	-	0	SC 13G/A
Feb 12, 2021	primecap management co/ca/	12.97%	65,016,736	SC 13G/A
Feb 08, 2021	fmr llc	-	0	SC 13G/A

FLEX Fair Value

Show Fair-Value

Recent SEC filings of Flex

View All Filings

Date Filed	Form Type	Document
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
Jun 02, 2023	144	Notice of Insider Sale Intent
May 26, 2023	SD	SD
May 19, 2023	10-K	Annual Report
May 10, 2023	8-K	Current Report

Latest Insider Trading transactions for FLEX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-17	Tan Lay Koon	acquired	-	-	1,214	-
2023-04-17	HURLSTON MICHAEL E.	acquired	-	-	1,214	-
2023-03-16	McSweeney Erin	sold	-206,000	20.6	-10,000	-
2023-03-15	Ward Pat	gifted	-	-	-6,402	-
2023-03-15	Ward Pat	gifted	-	-	6,402	-
2023-03-10	WENDLER DANIEL	sold	-33,185	21.9478	-1,512	chief accounting officer
2023-03-01	Tan Kwang Hooi	sold	-79,462	22.8144	-3,483	group president
2023-02-23	Sidelinger Rebecca	sold	-261,380	23.2938	-11,221	group president
2023-01-17	Tan Lay Koon	acquired	-	-	1,097	-
2023-01-17	HURLSTON MICHAEL E.	acquired	-	-	1,097	-

About Flex

Revathi Advaithi

www.flextronics.com

65535

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through two segments, Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The company provides a portfolio of technologies in electrical/electronics, electromechanical, and software; and cross-industry technologies, including human machine interface, audio and video, system in package, miniaturization, IoT platforms, and power management. It also designs and integrates advanced data center servers, storage and networking equipment, and data center appliances. In addition, the company provides value-added design and engineering services; and systems assembly and manufacturing services that include enclosures, testing services, and materials procurement and inventory management services. Further, it offers chargers for smartphones and tablets; adapters for notebooks and gaming systems; power supplies for the server, storage, and networking markets; isolated DC/DC converters and non-isolated Point of Load converters for the information and communications technology market; and specialized power module solutions for other markets. Additionally, the company provides after-market and forward supply chain logistics services comprising supplier-managed inventory, inbound freight management, product postponement, build/configure to order, order fulfillment and distribution, asset tracking, and supply chain network design; and reverse logistics and repair solutions, including returns management, exchange programs, complex repair, asset recovery, recycling, and e-waste management. The company was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in September 2016. Flex Ltd. was incorporated in 1990 and is based in Singapore.

FLEX Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 30,346	$ 26,041	$ 24,124
Cost of sales	28,058	24,094	22,349
Restructuring charges	23	15	88
Gross profit	2,265	1,932	1,687
Selling, general and administrative expenses	995	892	817
Intangible amortization	82	68	62
Restructuring charges	4	0	13
Operating income	1,184	972	795
Interest, net	201	152	148
Other charges (income), net	5	(164)	16
Equity in earnings (losses) of unconsolidated affiliates	(4)	61	83
Income before income taxes	974	1,045	714
Provision for (benefit from) income taxes	(59)	105	101
Net income	1,033	940	613
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	240	4	0
Net income attributable to Flex Ltd.	$ 793	$ 936	$ 613
Earnings per share attributable to the shareholders of Flex Ltd.:
Basic (in dollars per share)	$ 1.75	$ 1.97	$ 1.23
Diluted (in dollars per share)	$ 1.72	$ 1.94	$ 1.21
Weighted-average shares used in computing per share amounts:
Basic (in shares)	454	476	499
Diluted (in shares)	462	483	506

FLEX Balance Sheet

2023-03-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 3,294	$ 2,964
Accounts receivable, net of allowance for doubtful accounts	3,739	3,371
Contract assets	541	519
Inventories	7,530	6,580
Other current assets	917	903
Total current assets	16,021	14,337
Property and equipment, net	2,349	2,125
Operating lease right-of-use assets, net	608	637
Goodwill	1,343	1,342
Other intangible assets, net	316	411
Other assets	758	473
Total assets	21,395	19,325
Current liabilities:
Bank borrowings and current portion of long-term debt	150	949
Accounts payable	5,930	6,254
Accrued payroll	522	470
Deferred revenue and customer working capital advances	3,143	2,002
Other current liabilities	1,110	1,036
Total current liabilities	10,855	10,711
Long-term debt, net of current portion	3,691	3,248
Operating lease liabilities, non-current	506	551
Other liabilities	637	608
Total liabilities	15,689	15,118
Commitments and contingencies (Note 14)
Redeemable noncontrolling interest	0	78
Shareholders' equity
Ordinary shares, no par value; 1,500,000,000 authorized, 500,362,046 and 510,799,667 issued, and 450,122,691 and 460,560,312 outstanding as of March 31, 2023 and 2022, respectively	6,493	6,052
Treasury stock, at cost; 50,239,355 shares as of March 31, 2023 and 2022, respectively	(388)	(388)
Accumulated deficit	(560)	(1,353)
Accumulated other comprehensive loss	(194)	(182)
Total Flex Ltd. shareholders' equity	5,351	4,129
Noncontrolling interest	355	0
Total shareholders' equity	5,706	4,129
Total liabilities, redeemable noncontrolling interest and shareholders' equity	$ 21,395	$ 19,325