Flex Ltd Stock Research

Market Summary

USD23.54-0.39

Delayed

-1.63%

FLEX Stock Price

FLEX RSI Chart

FLEX Valuation

Market Cap

10.7B

Price/Earnings (Trailing)

13.09

Price/Sales (Trailing)

0.37

EV/EBITDA

5.38

Price/Free Cashflow

87.53

FLEX Price/Sales (Trailing)

FLEX Profitability

EBT Margin

3.30%

Return on Equity

19.52%

Return on Assets

3.96%

Free Cashflow Yield

1.14%

FLEX Fundamentals

FLEX Revenue

Revenue (TTM)

28.6B

Revenue Y/Y

24.67%

Revenue Q/Q

5.7%

FLEX Earnings

Earnings (TTM)

816.0M

Earnings Y/Y

-30.95%

Earnings Q/Q

22.75%

Price Action

52 Week Range

13.6325.12

(Low)(High)

Last 7 days

-2.9%

Last 30 days

12.6%

Last 90 days

19.4%

Trailing 12 Months

50.0%

FLEX Financial Health

Current Ratio

1.29

Debt/Equity

Debt/Cashflow

0.18

FLEX Investor Care

Buy Backs (1Y)

5.88%

Diluted EPS (TTM)

1.74

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	46.8B	12.4B	5.02%	5.44%	25.17	3.77	20.78%	25.42%
KEYS	31.8B	5.4B	5.84%	10.14%	28.26	5.86	9.69%	25.73%
GLW	31.1B	14.2B	17.12%	-6.47%	16.54	2.19	3.27%	12.16%
ZBRA	14.9B	5.7B	28.46%	-32.99%	30.01	2.57	5.07%	-44.62%
FLEX	10.7B	28.6B	12.58%	50.03%	13.09	0.37	11.84%	-17.58%
JBL	10.5B	33.5B	14.76%	32.78%	10.5	0.31	14.32%	43.10%
MID-CAP
IPGP	5.5B	1.5B	23.45%	-21.83%	20.55	3.77	1.92%	1.99%
VSH	3.3B	3.5B	8.47%	14.64%	8.28	0.93	13.72%	31.36%
SANM	3.2B	7.9B	0.27%	57.12%	12.61	0.41	16.78%	-4.79%
PLXS	2.6B	3.8B	-8.37%	25.47%	18.73	0.68	13.14%	-0.48%
SMALL-CAP
OSIS	1.6B	1.2B	20.90%	15.15%	14.77	1.36	0.07%	28.38%
TTMI	1.6B	2.5B	6.06%	16.86%	16.22	0.64	13.87%	14.08%
CTS	1.4B	577.1M	14.14%	38.35%	26.2	2.44	14.64%	249.10%
BHE	960.4M	2.8B	5.06%	19.49%	16.16	0.35	29.17%	91.42%
LASR	555.4M	252.8M	30.29%	-35.81%	-13.66	2.2	-5.80%	-59.89%

Financials for Flex

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	5.7%	28,583	27,046	26,041	25,456	25,557
Gross Profit	6.3%	2,122	1,996	1,932	1,936	1,924
S&GA Expenses	3.4%	965	933	892	838	836
EBITDA	-5.4%	1,529	1,616	1,607	-	-
EBITDA Margin	-10.5%	0.05*	0.06*	0.06*	-	-
Earnings Before Taxes	-9.5%	944	1,043	1,045	1,107	1,097
EBT Margin	-14.4%	0.03*	0.04*	0.04*	-	-
Interest Expenses	4.4%	165	158	153	153	155
Net Income	-11.3%	816	920	937	1,009	990
Net Income Margin	-16.1%	0.03*	0.03*	0.04*	-	-
Free Cahsflow	-58.8%	122	296	581	-	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	2.8%	20,623	20,054	19,325	18,175	16,711
Current Assets	3.2%	15,630	15,147	14,337	13,213	12,183
Cash Equivalents	-7.3%	2,453	2,647	2,964	2,574	2,458
Inventory	6.7%	7,726	7,243	6,580	5,958	5,168
Net PPE	3.1%	2,201	2,135	2,125	2,112	2,100
Goodwill	-0.8%	1,325	1,336	1,342	272	1,085
Liabilities	3.0%	16,353	15,879	15,118	-	-
Current Liabilities	4.8%	12,146	11,590	10,711	9,642	8,688
LT Debt, Current	-3.2%	916	946	949	648	284
LT Debt, Non Current	-1.5%	3,081	3,129	3,248	3,798	3,501
Shareholder's Equity	2.2%	4,180	4,091	4,129	3,655	3,514
Retained Earnings	19.9%	-932.00	-1,164.00	-1,353.00	-1,520.00	-1,747.00
Accumulated Depreciation	-	3,979	-	-	-	-
Shares Outstanding	-0.9%	454	458	461	467	482
Float	-	8,600	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-10.6%	651	728	1,024	825	1,023
Share Based Compensation	-	91	-	-	-	-
Cashflow From Investing	-9.9%	-1,019.00	-927.00	-951.00	-804.00	-247.00
Cashflow From Financing	99.6%	471	236	280	-42.00	-684.00
Buy Backs	-36.3%	449	705	686	725	673

Risks for FLEX

What is the probability of a big loss on FLEX?

70.8%

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

49.2%

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

14.3%

10-Year Cumulative Returns

12.3%

7-Year Cumulative Returns

5-Year Cumulative Returns

21.6%

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
2023-01-26	COMERICA BANK	reduced	-4.2	76,000	383,000	-%
2023-01-26	DUPONT CAPITAL MANAGEMENT CORP	added	103.55	290,008	469,008	0.02%
2023-01-26	BOENNING & SCATTERGOOD, INC.	unchanged	-	57,000	558,000	0.09%
2023-01-26	Vigilant Capital Management, LLC	unchanged	-	1,000	7,000	-%
2023-01-26	Regent Investment Management LLC	unchanged	-	102,000	456,000	0.12%
2023-01-26	NJ State Employees Deferred Compensation Plan	unchanged	-	96,200	429,200	0.07%
2023-01-26	Calamos Advisors LLC	new	-	568,690	568,690	-%
2023-01-25	STEPHENS INC /AR/	reduced	-18.07	14,000	275,000	0.01%
2023-01-25	GREENLEAF TRUST	added	11.54	77,000	256,000	-%
2023-01-25	DELTEC ASSET MANAGEMENT LLC	sold off	-100	-833,000	-	-%

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
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
Feb 03, 2021	wellington management group llp	10.52%	52,710,291	SC 13G/A
Jul 09, 2020	wellington management group llp	10.39%	51,719,850	SC 13G
Jun 10, 2020	fmr llc	-	0	SC 13G/A

FLEX Fair Value

Flex fair value in different scenarios

The table shows the Fair Value estimates for Flex 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	17.27 -26.64%	22.04 -6.37%	24.51 4.12%	30.56 29.82%	45.95 95.20%
Current Inflation	16.30 -30.76%	20.61 -12.45%	22.85 -2.93%	27.40 16.40%	40.47 71.92%
Very High Inflation	15.05 -36.07%	18.79 -20.18%	20.77 -11.77%	23.65 0.47%	34.10 44.86%

Fair Value

Very Pessimistic

Pessimistic

Base Case

Optimistic

Very Optimistic

Very Low Inflation

17.27

-26.64%

22.04

-6.37%

24.51

4.12%

30.56

29.82%

45.95

95.20%

Current Inflation

16.30

-30.76%

20.61

-12.45%

22.85

-2.93%

27.40

16.40%

40.47

71.92%

Very High Inflation

15.05

-36.07%

18.79

-20.18%

20.77

-11.77%

23.65

0.47%

34.10

44.86%

Historical Flex Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Flex

View All Filings

Date Filed	Form Type	Document
Jan 25, 2023	8-K	Current Report
Jan 19, 2023	4	Insider Trading
Jan 19, 2023	4	Insider Trading
Dec 07, 2022	4	Insider Trading
Dec 07, 2022	8-K	Current Report
Dec 02, 2022	4	Insider Trading
Dec 01, 2022	8-K	Current Report
Dec 01, 2022	424B5	Prospectus Filed
Nov 30, 2022	FWP	Prospectus Filed
Nov 30, 2022	424B5	Prospectus Filed

Latest Insider Trading transactions for FLEX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-17	Tan Lay Koon	acquired	-	-	1,097	-
2023-01-17	HURLSTON MICHAEL E.	acquired	-	-	1,097	-
2022-12-05	Stevens Charles K. III	sold	-433,800	21.69	-20,000	-
2022-11-30	Hartung Michael P	sold	-264,718	21.3896	-12,376	group president
2022-11-11	Hartung Michael P	sold	-244,703	20.1104	-12,168	group president
2022-11-10	Hartung Michael P	sold	-1,760	20	-88	group president
2022-11-02	Hartung Michael P	sold	-74,997.6	20.0314	-3,744	group president
2022-10-31	Hartung Michael P	sold	-882,641	19.6588	-44,898	group president
2022-10-17	Tan Lay Koon	acquired	-	-	1,506	-
2022-10-17	HURLSTON MICHAEL E.	acquired	-	-	1,506	-

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

2022-09-30

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Statement [Abstract]
Net sales	$ 7,766	$ 6,229	$ 15,113	$ 12,571
Cost of sales	7,175	5,755	13,987	11,625
Restructuring charges	0	9	0	9
Gross profit	591	465	1,126	937
Selling, general and administrative expenses	245	213	486	414
Intangible amortization	21	15	43	30
Operating income	325	237	597	493
Interest and other, net	53	(134)	93	(111)
Income before income taxes	272	371	504	604
Provision for income taxes	34	35	71	62
Net income	238	336	433	542
Net income attributable to redeemable noncontrolling interest	6	0	12	0
Net income attributable to Flex Ltd.	$ 232	$ 336	$ 421	$ 542
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 0.51	$ 0.70	$ 0.92	$ 1.11
Diluted (in dollars per share)	$ 0.50	$ 0.69	$ 0.91	$ 1.10
Weighted-average shares used in computing per share amounts:
Basic (in shares)	455	482	457	487
Diluted (in shares)	460	487	464	493

FLEX Balance Sheet

2022-09-30

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,453	$ 2,964
Accounts receivable, net of allowance of $8 and $56, respectively	3,956	3,371
Contract assets	531	519
Inventories	7,726	6,580
Other current assets	964	903
Total current assets	15,630	14,337
Property and equipment, net	2,201	2,125
Operating lease right-of-use assets, net	596	637
Goodwill	1,325	1,342
Other intangible assets, net	328	411
Other assets	543	473
Total assets	20,623	19,325
Current liabilities:
Bank borrowings and current portion of long-term debt	916	949
Accounts payable	6,818	6,254
Accrued payroll	479	470
Deferred revenue and customer working capital advances	2,700	2,002
Other current liabilities	1,233	1,036
Total current liabilities	12,146	10,711
Long-term debt, net of current portion	3,081	3,248
Operating lease liabilities, non-current	495	551
Other liabilities	631	608
Total liabilities	16,353	15,118
Redeemable noncontrolling interest	90	78
Shareholders’ equity
Ordinary shares, no par value; 1,500,000,000 authorized, 503,876,758 and 510,799,667 issued, and 453,637,403 and 460,560,312 outstanding, respectively	5,852	6,052
Treasury stock, at cost; 50,239,355 shares as of September 30, 2022 and March 31, 2022	(388)	(388)
Accumulated deficit	(932)	(1,353)
Accumulated other comprehensive loss	(352)	(182)
Total shareholders’ equity	4,180	4,129
Total liabilities, redeemable noncontrolling interest, and shareholders' equity	$ 20,623	$ 19,325