TICKDELTA
Sign in
Screener / SEC EDGAR /CIK 0000866374 /10-K filed May 20, 2026, compared with May 21, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
FLEXSNDKLRCXAMATADBEAPH
Nasdaq Technology · Electronic Components

Flex Ltd. FLEX

FLEX quote by TradingView

Flex is the advanced, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage products that improve the world. 10-K, Item 1

Headquarters
Austin, TX
CEO
Revathi Advaithi
Next results
around Feb 3, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $27.9B through the costs to a net profit of $880.0M · income statement of the 10-K

5% operating margin
Revenue to Gross profit: $2.6BRevenue to Cost of revenue: $25.3BGross profit to Operating profit: $1.4BGross profit to Operating expenses: $1.2BOperating profit to Net profit: $880.0MOperating profit to Tax & other: $488.0M Revenue: $27.9B REVENUE $27.9B +8% Y/Y Gross profit: $2.6B · 9% margin GROSS PROFIT $2.6B 9% margin · +19% Y/Y Cost of revenue: $25.3B · 91% of revenue COST OF REVENUE $25.3B 91% of revenue Operating profit: $1.4B · 5% margin OPERATING PROFIT $1.4B 5% margin · +17% Y/Y Operating expenses: $1.2B · 4% of revenue OPERATING EXPENSES $1.2B 4% of revenue Net profit: $880.0M · 3% margin NET PROFIT $880.0M 3% margin · +5% Y/Y Tax & other: $488.0M · 2% of revenue TAX & OTHER $488.0M 2% of revenue
Gross profit $2.6B 9% margin · +19% Y/Y
Operating profit $1.4B 5% margin · +17% Y/Y
Net profit $880.0M 3% margin · +5% Y/Y
The full income statement, year by year

FLEX among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 8.1%, above 27% of 74 peers (their median 14.1%) REVENUE GROWTH 8.1% · above 27% Gross margin: 9.5%, above 1% of 67 peers (their median 58.0%) GROSS MARGIN 9.5% · above 1% Operating margin: 5.1%, above 6% of 70 peers (their median 23.8%) OPERATING MARGIN 5.1% · above 6% Net margin: 3.4%, above 8% of 74 peers (their median 19.2%) NET MARGIN 3.4% · above 8% FCF margin: 2.5%, above 4% of 70 peers (their median 23.7%) FCF MARGIN 2.5% · above 4% Return on capital: 9.6%, above 41% of 61 peers (their median 12.7%) RETURN ON CAPITAL 9.6% · above 41%
FLEX Peer median Below the median

What changed

93 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed May 20, 2026 against May 21, 2025.

Risk factors
93 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +27.5% vs revenue +8.1% (+19.3 pts)
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
4 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +27.5% vs revenue +8.1% (+19.3 pts)
  • Cash from operations $1.7B vs net income $880.0M (FY ending Mar 31, 2026)
8 more checks with nothing to note
  • Inventory +15.3% vs revenue +8.1% (+7.1 pts)
  • Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

93 paragraphs in Risk Factors that were not in the 10-K filed May 21, 2025. Quoted as filed.

All 93 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed May 21, 2025 10-K, ITEM 1A
    Customer concentration is particularly pronounced in our Cloud and Power Infrastructure businesses, where a limited number of hyperscale cloud providers, colocation companies, and large enterprise data center operators represent a substantial portion of demand. Hyperscale customers typically have substantial purchasing power and…
  2. Item 1A · new paragraph · not in the 10-K filed May 21, 2025 10-K, ITEM 1A
    We may incur significant losses if customer-specific capital equipment becomes impaired or obsolete. We make investments in capital equipment that is designed for or dedicated to specific customers, products, or programs. These investments are often based on forecasts of customer demand and anticipated long-term relationships. In…
  3. Item 1A · new paragraph · not in the 10-K filed May 21, 2025 10-K, ITEM 1A
    Certain components that we use are sourced from a limited number of suppliers, and in some cases from a single supplier, which increases the risk that regulatory actions, geopolitical developments, trade restrictions or other events affecting those suppliers could disrupt our supply chain. In addition, certain of our customers direct or…
  4. Item 1A · new paragraph · not in the 10-K filed May 21, 2025 10-K, ITEM 1A
    A breach of our IT or physical security systems, or a cybersecurity incident affecting our operations, products, or third parties upon which we rely, could materially disrupt our business, damage our reputation, and expose us to significant costs and liability.

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$28.5B$26.4B$25.8B$27.9B
Net income$793.0M$1.0B$838.0M$880.0M
Operating cash flow$950.0M$1.3B$1.5B$1.7B
Free cash flow$315.0M$796.0M$1.1B$1.1B

Revenue, FY2017 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$27.9B ▲ 8.1% in FY2026

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

4 filings in the last 30 days · SEC EDGAR

All filings

About the company

Flex Ltd., Austin, TX · from the 10-K filed May 20, 2026

Flex is the advanced, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage products that improve the world. Through the collective strength of a global workforce across approximately 30 countries with responsible, sustainable operations, we deliver technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The Company’s full suite of specialized capabilities includes design and engineering, supply chain, manufacturing, and integrated services, plus a portfolio of power and cooling products.

Headquarters
Austin, TX
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
March 31
Last results
Oct 28, 2026
Incorporated in
Singapore

Email alerts

Sources

The 10-K filed May 20, 2026 (open at SEC), compared with the 10-K filed May 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/FLEX/export.csv") into a cell.