Flex Ltd. (FLEX) financial statements: income statement, balance sheet and cash flow

Flex Ltd.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), Flex Ltd. reported revenue of $27.9B (+8.1% year on year) and net income of $880.0M (+5.0% year on year).

Income statement

Flex Ltd. income statement, fiscal years

Line item	Mar 31, 2026 · FY	Mar 31, 2025 · FY	Mar 31, 2024 · FY	Mar 31, 2023 · FY
Net sales	$27.9B	$25.8B	$26.4B	$30.3B
Cost of sales	$25.3B	$23.6B	$24.4B	$28.1B
Restructuring charges	$59.0M	$70.0M	$155.0M	$23.0M
Gross profit	$2.6B	$2.2B	$1.9B	$2.3B
Selling, general and administrative expenses	$1.1B	$904.0M	$922.0M	$995.0M
Restructuring and impairment charges	$79.0M	—	—	—
Intangible amortization	$68.0M	$70.0M	$70.0M	$82.0M
Operating income	$1.4B	$1.2B	$853.0M	$1.2B
Interest expense	$215.0M	$218.0M	$207.0M	—
Interest income	$51.0M	$61.0M	$56.0M	—
Other charges (income), net	$30.0M	($14.0M)	$44.0M	$5.0M
Equity in earnings (losses) of unconsolidated affiliates	($31.0M)	($3.0M)	$8.0M	($4.0M)
Income from continuing operations before income taxes	$1.1B	$1.0B	$666.0M	$974.0M
Provision for (benefit from) income taxes	$263.0M	$185.0M	($206.0M)	($59.0M)
Net income from continuing operations	$880.0M	$838.0M	$872.0M	—
Net income from discontinued operations, net of tax	$0	$0	$373.0M	—
Net income	$880.0M	$838.0M	$1.2B	$1.0B
Net income attributable to noncontrolling interest	$0	$0	$239.0M	$240.0M
Net income attributable to Flex Ltd.	$880.0M	$838.0M	$1.0B	$793.0M
Basic earnings per share from continuing operations (in dollars per share)	$2.37	$2.14	$2.00	—
Basic earnings per share from discontinued operations (in dollars per share)	$0.00	$0.00	$0.31	—
Basic earnings per share attributable to the shareholders of Flex Ltd (in dollars per share)	$2.37	$2.14	$2.31	$1.75
Diluted earnings per share from continuing operations (in dollars per share)	$2.33	$2.11	$1.98	—
Diluted earnings per share from discontinued operations (in dollars per share)	$0.00	$0.00	$0.30	—
Diluted earnings per share attributable to the shareholders of Flex Ltd (in dollars per share)	$2.33	$2.11	$2.28	$1.72
Basic (in shares)	371.0M	391.0M	435.0M	454.0M
Diluted (in shares)	378.0M	398.0M	441.0M	462.0M

Flex Ltd. income statement, quarters

Line item	Jun 26, 2026 · Q1	Dec 31, 2025 · Q3	Sep 26, 2025 · Q2	Jun 27, 2025 · Q1
Net sales	$7.9B	$7.1B	$6.8B	$6.6B
Cost of sales	$7.2B	$6.4B	$6.2B	$6.0B
Restructuring charges	$4.0M	$6.0M	$9.0M	$16.0M
Gross profit	$747.0M	$679.0M	$614.0M	$572.0M
Selling, general and administrative expenses	$334.0M	$270.0M	$260.0M	$233.0M
Restructuring and impairment charges (reversal)	($2.0M)	$5.0M	$42.0M	—
Intangible amortization	$23.0M	$15.0M	$16.0M	$21.0M
Operating income	$392.0M	$389.0M	$296.0M	$311.0M
Interest expense	$60.0M	$58.0M	$52.0M	$51.0M
Interest income	$13.0M	$15.0M	$10.0M	$13.0M
Other charges (income), net	($37.0M)	$25.0M	($13.0M)	$7.0M
Equity in earnings (losses) of unconsolidated affiliates	($5.0M)	($1.0M)	($5.0M)	($20.0M)
Income before income taxes	$377.0M	$320.0M	$262.0M	$246.0M
Provision for income taxes	$92.0M	$81.0M	$63.0M	$54.0M
Net income	$285.0M	$239.0M	$199.0M	$192.0M
Basic (in dollars per share)	$0.78	$0.65	$0.53	$0.51
Diluted (in dollars per share)	$0.76	$0.64	$0.52	$0.50
Basic (in shares)	366.0M	369.0M	374.0M	374.0M
Diluted (in shares)	374.0M	376.0M	380.0M	381.0M

Balance sheet

Flex Ltd. balance sheet, fiscal years

Line item	Mar 31, 2026 · FY	Mar 31, 2025 · FY	Mar 31, 2024 · FY	Mar 31, 2023 · FY
Cash and cash equivalents	$2.4B	$2.3B	$2.5B	$3.3B
Accounts receivable, net of allowance for doubtful accounts	$4.7B	$3.7B	$3.0B	$3.7B
Contract assets	$1.1B	$616.0M	$249.0M	$541.0M
Inventories	$5.8B	$5.1B	$6.2B	$7.5B
Other current assets	$2.4B	$1.2B	$1.0B	$917.0M
Total current assets	$16.3B	$12.8B	$13.0B	$16.0B
Property and equipment, net	$2.5B	$2.3B	$2.3B	$2.3B
Operating lease right-of-use assets, net	$659.0M	$562.0M	$601.0M	$608.0M
Goodwill	$1.4B	$1.3B	$1.1B	$1.3B
Other intangible assets, net	$283.0M	$343.0M	$245.0M	$316.0M
Other non-current assets	$912.0M	$964.0M	$1.0B	$758.0M
Total assets	$22.1B	$18.4B	$18.3B	$21.4B
Bank borrowings and current portion of long-term debt	$0	$1.2B	$0	$150.0M
Accounts payable	$8.1B	$5.1B	$4.5B	$5.9B
Accrued payroll and benefits	$671.0M	$560.0M	$488.0M	$522.0M
Deferred revenue and customer working capital advances	$2.2B	$2.0B	$2.6B	$3.1B
Other current liabilities	$1.1B	$977.0M	$968.0M	$1.1B
Total current liabilities	$12.0B	$9.8B	$8.5B	$10.9B
Long-term debt, net of current portion	$3.8B	$2.5B	$3.3B	$3.7B
Operating lease liabilities, non-current	$565.0M	$456.0M	$490.0M	$506.0M
Other non-current liabilities	$584.0M	$590.0M	$642.0M	$637.0M
Total liabilities	$16.9B	$13.4B	$12.9B	$15.7B
Ordinary shares, no par value; 371,241,931 and 383,369,073 issued, and 365,690,291 and 377,817,433 outstanding as of March 31, 2026 and 2025, respectively	3.3B	4.1B	5.1B	6.5B
Treasury stock, at cost; 5,551,640 shares	-200.0M	-200.0M	0	-388.0M
Accumulated earnings	$2.2B	$1.3B	$446.0M	($560.0M)
Accumulated other comprehensive loss	($167.0M)	($224.0M)	($195.0M)	($194.0M)
Total shareholders' equity	$5.1B	$5.0B	$5.3B	$5.4B
Total liabilities and shareholders' equity	$22.1B	$18.4B	$18.3B	$21.4B

Flex Ltd. balance sheet, quarters

Line item	Jun 26, 2026	Dec 31, 2025	Sep 26, 2025	Jun 27, 2025
Cash and cash equivalents	$2.8B	$3.1B	$2.2B	$2.2B
Accounts receivable, net of allowance of $10 and $8, respectively	$5.0B	$3.8B	$3.9B	$3.9B
Contract assets	$1.4B	$881.0M	$819.0M	$751.0M
Inventories	$6.5B	$5.5B	$5.3B	$5.2B
Other current assets	$2.5B	$1.8B	$1.6B	$1.3B
Total current assets	$18.2B	$15.2B	$13.8B	$13.5B
Property and equipment, net	$2.7B	$2.4B	$2.4B	$2.3B
Operating lease right-of-use assets, net	$794.0M	$667.0M	$703.0M	$686.0M
Goodwill	$1.8B	$1.4B	$1.4B	$1.4B
Other intangible assets, net	$736.0M	$300.0M	$314.0M	$330.0M
Other non-current assets	$945.0M	$933.0M	$960.0M	$951.0M
Total assets	$25.2B	$20.8B	$19.5B	$19.1B
Accounts payable	$9.2B	$6.5B	$6.1B	$5.8B
Accrued payroll and benefits	$579.0M	$590.0M	$568.0M	$494.0M
Deferred revenue and customer working capital advances	$2.1B	$2.0B	$1.9B	$1.9B
Other current liabilities	$1.4B	$1.1B	$1.1B	$1.1B
Total current liabilities	$13.2B	$10.9B	$10.4B	$9.9B
Long-term debt, net of current portion	$5.2B	$3.8B	$3.0B	$3.0B
Operating lease liabilities, non-current	$711.0M	$583.0M	$604.0M	$583.0M
Other non-current liabilities	$548.0M	$500.0M	$520.0M	$535.0M
Total liabilities	$19.7B	$15.7B	$14.5B	$14.0B
Ordinary shares, no par value; 374,939,150 and 371,241,931 issued, and 369,387,510 and 365,690,291 outstanding as of June 26, 2026 and March 31, 2026, respectively	3.4B	3.5B	3.7B	3.9B
Treasury stock at cost; 5,551,640 shares	-200.0M	-200.0M	-200.0M	-200.0M
Accumulated earnings	$2.4B	$1.9B	$1.7B	$1.5B
Accumulated other comprehensive loss	($150.0M)	($104.0M)	($111.0M)	($116.0M)
Total shareholders’ equity	$5.5B	$5.1B	$5.0B	$5.1B
Total liabilities and shareholders' equity	$25.2B	$20.8B	$19.5B	$19.1B

Cash flow statement

Flex Ltd. cash flow statement, fiscal years

Line item	Mar 31, 2026 · FY	Mar 31, 2025 · FY	Mar 31, 2024 · FY	Mar 31, 2023 · FY
Net income	$880.0M	$838.0M	$1.2B	$1.0B
Depreciation	$457.0M	$439.0M	$431.0M	$414.0M
Amortization and other impairment charges	$106.0M	$100.0M	$106.0M	$87.0M
Other non-cash income	$80.0M	$3.0M	($25.0M)	($44.0M)
Non-cash lease expense	$148.0M	$142.0M	$139.0M	$131.0M
Stock-based compensation	$142.0M	$125.0M	$152.0M	$133.0M
Deferred income taxes	$1.0M	$23.0M	($480.0M)	($192.0M)
Accounts receivable	($979.0M)	($601.0M)	$380.0M	($388.0M)
Contract assets	($435.0M)	($365.0M)	($41.0M)	($27.0M)
Inventories	($742.0M)	$1.2B	$1.1B	($974.0M)
Other current and noncurrent assets	($1.2B)	($216.0M)	($297.0M)	($55.0M)
Accounts payable	$2.9B	$630.0M	($986.0M)	($341.0M)
Other current and noncurrent liabilities	$338.0M	($789.0M)	($412.0M)	$1.2B
Net cash provided by operating activities	$1.7B	$1.5B	$1.3B	$950.0M
Purchases of property and equipment	($633.0M)	($438.0M)	($530.0M)	($635.0M)
Proceeds from the disposition of property and equipment	$8.0M	$15.0M	$25.0M	$20.0M
Acquisitions of businesses, net of cash acquired	($40.0M)	($405.0M)	$0	$2.0M
Proceeds from divestiture of businesses, net of cash held in divested businesses	($4.0M)	($21.0M)	$12.0M	$2.0M
Other investing activities, net	($3.0M)	$11.0M	$1.0M	$7.0M
Net cash used in investing activities	($672.0M)	($838.0M)	($492.0M)	($604.0M)
Proceeds from bank borrowings and long-term debt	$1.3B	$499.0M	$2.0M	$718.0M
Repayments of bank borrowings and long-term debt	($1.2B)	($58.0M)	($409.0M)	($1.0B)
Payments for repurchases of ordinary shares	-944.0M	-1.3B	-1.3B	-337.0M
Proceeds from issuances of Nextracker shares	0	0	552.0M	694.0M
Payment for purchase of Nextracker LLC units from TPG	$0	$0	($57.0M)	—
Capital reduction from Nextracker spin-off	$0	$0	($368.0M)	—
Other financing activities, net	($14.0M)	($5.0M)	($78.0M)	($27.0M)
Net cash (used in) provided by financing activities	($924.0M)	($821.0M)	($1.7B)	$2.0M
Effect of exchange rates on cash	$11.0M	($31.0M)	$2.0M	($18.0M)
Net (decrease) increase in cash and cash equivalents	$100.0M	($185.0M)	($820.0M)	$330.0M
Cash and cash equivalents, beginning of year	$2.3B	$2.5B	$3.3B	$3.0B
Cash and cash equivalents, end of year	$2.4B	$2.3B	$2.5B	$3.3B

Flex Ltd. cash flow statement, quarters

Line item	Jun 26, 2026 · Q1	Dec 31, 2025 · YTD	Sep 26, 2025 · YTD	Jun 27, 2025 · Q1
Net income	$285.0M	$630.0M	$391.0M	$192.0M
Depreciation, amortization and other impairment charges	$140.0M	$433.0M	$298.0M	$142.0M
Changes in working capital and other, net	($149.0M)	$209.0M	$163.0M	$65.0M
Net cash provided by operating activities	$276.0M	$1.3B	$852.0M	$399.0M
Purchases of property and equipment	($236.0M)	($431.0M)	($283.0M)	($133.0M)
Proceeds from the disposition of property and equipment	$1.0M	$7.0M	$4.0M	$2.0M
Acquisition of businesses, net of cash acquired	($1.1B)	($40.0M)	($43.0M)	($41.0M)
Proceeds from divestiture of businesses, net of cash held in divested businesses	$90.0M	($4.0M)	($4.0M)	—
Other investing activities, net	$0	($4.0M)	($8.0M)	($7.0M)
Net cash used in investing activities	($1.3B)	($472.0M)	($334.0M)	($179.0M)
Proceeds from bank borrowings and long-term debt	$2.8B	$1.3B	$500.0M	$500.0M
Payments of bank borrowings, long-term debt and other financing liabilities	($1.4B)	($542.0M)	($535.0M)	($532.0M)
Payments for repurchases of ordinary shares	0	-744.0M	-544.0M	-247.0M
Other financing activities, net	$10.0M	($11.0M)	$4.0M	($4.0M)
Net cash (used in) provided by financing activities	$1.5B	($46.0M)	($575.0M)	($283.0M)
Effect of exchange rates on cash and cash equivalents	($1.0M)	$14.0M	$17.0M	$13.0M
Net change in cash and cash equivalents	$451.0M	$768.0M	($40.0M)	($50.0M)
Cash and cash equivalents, beginning of period	$2.4B	$2.3B	$2.3B	$2.3B
Cash and cash equivalents, end of period	$2.8B	—	$2.2B	$2.2B
Unpaid purchases of property and equipment	$183.0M	$133.0M	$115.0M	$109.0M
Right-of-use assets obtained in exchange for operating lease liabilities	$177.0M	$207.0M	$206.0M	$152.0M

Flex Ltd. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.