Flex is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Company profile
Ticker
FLEX
Exchange
Website
CEO
Revathi Advaithi
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Jabil • Sanmina • TTM • Benchmark Electronics • Plexus • CTS • Kimball Electronics • Key Tronic • SMTC • Sigmatron International ...
Former names
FLEXTRONICS INTERNATIONAL LTD, FLEXTRONICS INTERNATIONAL LTD.
SEC CIK
Corporate docs
Subsidiaries
ACS Acquisitions Ireland Limited • ACS Acquisitions, Inc. • Advance Mold & Manufacturing, Inc. • AGM Automotive Costa Rica, S.A. • AGM Automotive Mexico, LLC • AGM Automotive, LLC • AGM Durmont Austria GmbH • AGM Durmont Mexico • Anord Control Systems (Holdings) Limited • Anord Mardix (Asia) Pte. Ltd. ...
FLEX stock data
News

Benzinga's Top Ratings Upgrades, Downgrades For August 17, 2022
17 Aug 22
Credit Suisse Initiates Coverage On Flex with Outperform Rating, Announces Price Target of $24
17 Aug 22
Flex: Q1 Earnings Insights
27 Jul 22
Flex Q1 EPS $0.54 Beats $0.48 Estimate, Sales $7.35B Beat $6.68B Estimate
27 Jul 22
Earnings Scheduled For July 27, 2022
27 Jul 22
Press releases
Flex receives 4th consecutive Lenovo EMEA Logistics Supplier of the Year Award
1 Aug 22
FLEX REPORTS FIRST QUARTER FISCAL 2023 RESULTS
27 Jul 22
Thinking about buying stock in Rhythm Pharmaceuticals, Flex, Qudian, Spirit AeroSystems, or Charge Enterprises?
18 Jul 22
Flex Releases 2022 Sustainability Report and Commits to Net Zero Greenhouse Gas Emissions by 2040
13 Jul 22
Flex Announces Date for First Quarter Fiscal 2023 Earnings Call
11 Jul 22
Analyst ratings and price targets
Current price
Average target
$22.50
Low target
$21.00
High target
$24.00
Credit Suisse
Initiated
$24.00
Goldman Sachs
Maintains
$21.00
Calendar
29 Jul 22
19 Aug 22
31 Mar 23
Financial summary
Quarter (USD) | Jul 22 | Mar 22 | Dec 21 | Oct 21 | |
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Mar 22 | Mar 21 | Mar 20 | Mar 19 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 2.65B | 2.65B | 2.65B | 2.65B | 2.65B | 2.65B |
Cash burn (monthly) | 105.67M | 3.83M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 174.21M | 6.32M | n/a | n/a | n/a | n/a |
Cash remaining | 2.47B | 2.64B | n/a | n/a | n/a | n/a |
Runway (months of cash) | 23.4 | 688.9 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Jul 22 | Michael E. Hurlston | Ordinary Shares | Grant | Acquire A | No | No | 0 | 1,812 | 0 | 35,846 |
15 Jul 22 | Tan Lay Koon | Ordinary Shares | Grant | Acquire A | No | No | 0 | 1,812 | 0 | 219,592 |
22 Jun 22 | Offer David Scott | Ordinary Shares | Sell | Dispose S | No | No | 14.5883 | 6,655 | 97.09K | 262,920 |
16 Jun 22 | Michael P Hartung | Ordinary Shares | Sell | Dispose S | No | No | 15.076 | 381 | 5.74K | 188,003 |
16 Jun 22 | Michael P Hartung | Ordinary Shares | Sell | Dispose S | No | No | 14.398 | 31,221 | 449.52K | 188,384 |
15 Jun 22 | Michael P Hartung | Ordinary Shares | Grant | Acquire A | No | No | 0 | 58,074 | 0 | 219,605 |
15 Jun 22 | Michael P Hartung | Ordinary Shares | Sell | Dispose S | No | No | 15.6685 | 5,329 | 83.5K | 161,531 |
15 Jun 22 | Kwang Hooi Tan | Ordinary Shares | Grant | Acquire A | No | No | 0 | 55,308 | 0 | 172,385 |
Institutional ownership, Q2 2022
94.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 341 |
Opened positions | 49 |
Closed positions | 52 |
Increased positions | 106 |
Reduced positions | 114 |
13F shares | Current |
---|---|
Total value | 7.12B |
Total shares | 429.91M |
Total puts | 1.25M |
Total calls | 1.59M |
Total put/call ratio | 0.8 |
Largest owners | Shares | Value |
---|---|---|
Primecap Management | 54.2M | $784.35M |
Wellington Management | 35.98M | $520.67M |
JHG Janus Henderson | 26.13M | $378.12M |
FMR | 24.2M | $350.21M |
Alliancebernstein | 21.88M | $316.59M |
Victory Capital Management | 21.14M | $305.93M |
BEN Franklin Resources | 14.79M | $214.05M |
Boston Partners | 13.31M | $192.64M |
Lyrical Asset Management | 12.93M | $187.13M |
IVZ Invesco | 12.64M | $182.97M |
Financial report summary
?Competition
Benchmark Electronics • Sanmina • Jabil • Celestica • TTM • Insulet • Ultra Clean Hldgs • Generation NEXT Franchise Brands • ArrayRisks
- Our customers may cancel their orders, change production quantities or locations, or delay production, any of which could harm our business; the short-term nature of our customers’ commitments and rapid changes in demand may cause supply chain and other issues which could adversely affect our operating results.
- A significant percentage of our sales come from a small number of customers and a decline in sales to any of these customers could adversely affect our business.
- Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand, could affect our ability to meet customer demand, lead to higher costs, or result in excess or obsolete inventory. We have been and continue to be adversely affected by supply chain issues, including shortages of required electronic components.
- The ongoing COVID-19 pandemic has materially and adversely affected our business and results of operations. The duration and extent to which it will continue to adversely impact our business and results of operations remains uncertain and could be material.
- Our components business is dependent on our ability to quickly launch world-class component products, and our investment in the development of our component capabilities, together with start-up and integration costs, may adversely affect our margins and profitability.
- Our margins and profitability may be adversely affected due to substantial investments, start-up and production ramp costs in our design services.
- If we do not effectively manage changes in our operations, our business may be harmed; we have taken substantial restructuring charges in the past and we may need to take material restructuring charges in the future.
- A breach of our IT or physical security systems, or violation of data privacy laws, may cause us to incur significant legal and financial exposure.
- Our strategic relationships with major customers create risks.
- We may encounter difficulties with acquisitions and divestitures, which could harm our business.
- We are pursuing alternatives for our Nextracker business, including a full or partial separation of the business, through an initial public offering of Nextracker or otherwise, which may not be consummated as or when planned or at all, and may not achieve the intended benefits.
- Our operating results may fluctuate significantly due to seasonal demand.
- We depend on our executive officers and skilled personnel.
- Catastrophic events could have a material adverse effect on our operations and financial results.
- Our business could be adversely affected by any delays, or increased costs, resulting from issues that our common carriers are dealing with in transporting our materials, our products, or both.
- We depend on industries that continually produce technologically advanced products with short product lifecycles and our business would be adversely affected if our customers' products are not successful or if our customers lose market share.
- Our industry is extremely competitive; if we are not able to continue to provide competitive services, we may lose business.
- Our goodwill and identifiable intangible assets could become impaired, which could reduce the value of our assets and reduce our net income in the year in which the write-off occurs.
- Our debt level may create limitations.
- Our exposure to financially troubled customers or suppliers may adversely affect our financial results.
- The market price of our ordinary shares is volatile.
- We are subject to risks associated with investments.
- Changes in financial accounting standards or policies have affected, and in the future may affect, our reported financial condition or results of operations.
- We conduct operations in a number of countries and are subject to the risks inherent in international operations.
- Fluctuations in foreign currency exchange rates could increase our operating costs.
- Legal and Regulatory Risks
- We are subject to risks relating to litigation and regulatory investigations and proceedings, which may have a material adverse effect on our business.
- If our compliance policies are breached, we may incur significant legal and financial exposure.
- If our products or components contain defects, demand for our services may decline and we may be exposed to product liability and product warranty liability.
- We are subject to the risk of increased income taxes.
- We may not meet regulatory quality standards applicable to our manufacturing and quality processes for medical devices, which could have an adverse effect on our business, financial condition or results of operations.
- Our failure to comply with environmental laws could adversely affect our business.
- Failure to comply with domestic or international employment and related laws could result in the payment of significant damages, which would reduce our net income.
- Our business could be impacted as a result of actions by activist shareholders or others.
- Social and environmental responsibility policies and provisions may be difficult to comply with and may impose costs on us. Increasing attention on environmental, social and governance (ESG) matters may have a negative impact on our business, impose additional costs on us, and expose us to additional risks.
- Climate change, and the legal and regulatory initiatives related to climate change, could adversely affect our business, results of operations and financial condition.
- The success of certain of our activities depends on our ability to protect our intellectual property rights; claims of infringement or misuse of intellectual property and/or breach of license agreement provisions against our customers or us could harm our business.
Management Discussion
- For a discussion of our results of operations for the fiscal year ended March 31, 2021 compared to the fiscal year ended March 31, 2020, refer to Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.
- The data below, and discussion that follows, represents our results from operations.
- Net sales for the fiscal year ended 2022 totaled $26.0 billion, representing an increase of $1.9 billion, or approximately 8%, from $24.1 billion for the fiscal year ended 2021. Net sales for our FAS segment increased $0.5 billion, or 4%, from the
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
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Removed:
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Financial reports
Current reports
8-K
Flex Reports First Quarter Fiscal 2023 Results
27 Jul 22
8-K
Entry into a Material Definitive Agreement
22 Jul 22
8-K
Departure of Directors or Certain Officers
3 Jun 22
8-K
Flex Reports Fourth Quarter and Fiscal 2022 Results
4 May 22
8-K
Reaffirms Fiscal Fourth Quarter and Fiscal Year 2022 Guidance
30 Mar 22
8-K
Departure of Directors or Certain Officers
25 Mar 22
8-K
Departure of Directors or Certain Officers
17 Feb 22
8-K
Nextracker announces investment and partnership with TPG Rise Climate
2 Feb 22
8-K
Flex Appoints Patrick J. Ward to Its Board of Directors
27 Jan 22
8-K
Flex Reports Third Quarter Fiscal 2022 Results
26 Jan 22
Registration and prospectus
S-3ASR
Automatic shelf registration
2 Jun 21
S-8
Registration of securities for employees
28 Aug 20
424B2
Prospectus for primary offering
14 Aug 20
FWP
Free writing prospectus
13 Aug 20
424B5
Prospectus supplement for primary offering
13 Aug 20
424B2
Prospectus for primary offering
11 May 20
FWP
Free writing prospectus
8 May 20
424B5
Prospectus supplement for primary offering
8 May 20
424B2
Prospectus for primary offering
1 Nov 19
FWP
Free writing prospectus
31 Oct 19
Proxies
DEFA14A
Additional proxy soliciting materials
4 Aug 22
DEFA14A
Additional proxy soliciting materials
30 Jun 22
DEFA14A
Additional proxy soliciting materials
30 Jun 22
DEFA14A
Additional proxy soliciting materials
25 Jun 21
DEFA14A
Additional proxy soliciting materials
25 Jun 21
DEFA14A
Additional proxy soliciting materials
26 Jun 20
DEFA14A
Additional proxy soliciting materials
26 Jun 20
DEF 14A
Definitive proxy
26 Jun 20
Other
SD
Conflict minerals disclosure
27 May 22
SD
Conflict minerals disclosure
28 May 21
UPLOAD
Letter from SEC
30 Sep 20
CORRESP
Correspondence with SEC
29 Sep 20
UPLOAD
Letter from SEC
7 Sep 20
SD
Conflict minerals disclosure
29 May 20
UPLOAD
Letter from SEC
9 Sep 19
CORRESP
Correspondence with SEC
3 Sep 19
UPLOAD
Letter from SEC
22 Aug 19
SD
Conflict minerals disclosure
16 May 19
Ownership
4
FLEX / Lay Koon Tan ownership change
15 Jul 22
4
FLEX / MICHAEL E. HURLSTON ownership change
15 Jul 22
4
FLEX / DAVID SCOTT OFFER ownership change
24 Jun 22
4
FLEX / Kwang Hooi Tan ownership change
16 Jun 22
4
FLEX / DAVID SCOTT OFFER ownership change
16 Jun 22
4
FLEX / Michael P Hartung ownership change
16 Jun 22
4
FLEX / Revathi Advaithi ownership change
16 Jun 22
4
FLEX / DAVID SCOTT OFFER ownership change
14 Jun 22
4
FLEX / Paul Lundstrom ownership change
14 Jun 22
4
FLEX / Michael P Hartung ownership change
14 Jun 22
Patents
Utility
Self-powered solar tracker apparatus
9 Aug 22
A solar tracker apparatus includes an adjustable hanger assembly that has a clam shell hanger assembly.
Utility
Method for controlling the orientation of a solar module with two photoactive faces
26 Jul 22
A method for controlling the orientation of a solar module including a single-axis solar tracker orientable about an axis of rotation, and a photovoltaic device supported by said tracker and having upper and lower photoactive faces, including: measurement of a distribution of the solar luminance called incident luminance originating from the incident solar radiation coming from the sky to reach the upper face, said distribution being established according to several elevation angles; measurement of a distribution of the solar luminance called reflected luminance originating from the albedo solar radiation corresponding to the reflection of the solar radiation on the ground to reach the lower face, said distribution being established according to several elevation angles; determination of an optimum orientation considering the measurements of said distributions of the incident and reflected solar luminance; servo-control of the orientation of the module on said optimum orientation.
Utility
Off-set drive assembly for solar tracker
19 Jul 22
In an example, the present invention provides a solar tracker apparatus configured with an off-set drive assembly.
Utility
Multi power source systems for photovoltaic battery control
19 Jul 22
A multi-power source system including a first power source, a second power source in a parallel with the first power source, and a diode preventing power from the second power source to drive the first power source but permitting the first power source to charge the second power source.
Utility
Adjusting Instrument
14 Jul 22
Adjusting instrument for an exterior vision unit, comprising: a base shaft, a housing surrounding the base shaft, which is pivotable around a longitudinal axis of the base shaft in an adjustment range, wherein the housing is provided with a housing ring, and a drive ring surrounding the base shaft.
Transcripts
2023 Q1
Earnings call transcript
28 Jul 22
2022 Q4
Earnings call transcript
5 May 22
2022 Q3
Earnings call transcript
27 Jan 22
2022 Q2
Earnings call transcript
28 Oct 21
2022 Q1
Earnings call transcript
29 Jul 21
2021 Q4
Earnings call transcript
5 May 21
2021 Q3
Earnings call transcript
28 Jan 21
2021 Q2
Earnings call transcript
29 Oct 20
2021 Q1
Earnings call transcript
31 Jul 20
2020 Q4
Earnings call transcript
8 May 20
Reddit threads
Daily Discussion Thread - July 27th, 2022
27 Jul 22
Daily Discussion Thread - July 26th, 2022
26 Jul 22
Daily Discussion Thread - July 25th, 2022
25 Jul 22
Freight infrastructure a good opportunity?
17 Jul 22
Is there a way to synthetically create options that don't exist?
7 Jun 22
Daily Discussion Thread - May 4th, 2022
4 May 22
Daily Discussion Thread - May 3rd, 2022
3 May 22
Daily Discussion Thread - May 2nd, 2022
2 May 22
SPX and VIX options to trade an extra 45 minutes beginning Monday
22 Apr 22
TL/DR markets were ok for most of the day, then started to drop hard after 3:00
31 Mar 22