$6.4 B

FLEX Mkt cap, 15-Oct-2018

$6.4 B

Flex Revenue Q1, 2019
Flex Gross profit (Q1, 2019)377.9 M
Flex Gross profit margin (Q1, 2019), %5.9%
Flex Net income (Q1, 2019)116 M
Flex Cash, 29-Jun-20181.3 B
Flex EV8 B

Flex Revenue

Flex revenue was $25.44 b in FY, 2018 which is a 6.6% year over year increase from the previous period.

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Flex Revenue Breakdown

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Flex revenue breakdown by business segment: 18.7% from High Reliability Solutions, 23.5% from Industrial & Emerging Industries, 27.4% from Consumer Technologies Group and 30.4% from Communications & Enterprise Compute

Flex Income Statement

Annual

USDFY, 2015FY, 2016FY, 2017FY, 2018

Revenue

26.1b24.4b23.9b25.4b

Revenue growth, %

(7%)(2%)7%

Cost of goods sold

24.6b22.8b22.3b23.8b

Gross profit

1.5b1.6b1.6b1.7b

Gross profit Margin, %

6%7%7%7%

General and administrative expense

844.5m954.9m937.3m1.0b

Operating expense total

844.5m954.9m937.3m1.0b

Pre tax profit

670.7m454.7m370.8m520.9m

Income tax expense

69.9m10.6m51.3m92.4m

Net Income

600.8m444.1m319.6m428.5m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q3, 2018Q1, 2019

Revenue

6.6b6.5b7.0b5.6b6.3b6.8b5.9b6.0b6.1b6.0b19.0b6.4b

Cost of goods sold

6.3b6.2b6.6b5.2b5.9b6.3b5.5b5.7b5.7b5.6b17.8b6.0b

Gross profit

380.8m377.1m408.7m352.3m396.9m452.5m406.0m313.7m416.5m406.9m1.2b377.9m

Gross profit Margin, %

6%6%6%6%6%7%7%5%7%7%7%6%

General and administrative expense

209.3m204.6m216.0m209.4m216.8m240.6m239.5m243.9m231.6m250.8m772.3m262.9m

Operating expense total

209.3m204.6m216.0m209.4m216.8m240.6m239.5m243.9m231.6m250.8m772.3m262.9m

Pre tax profit

189.9m154.3m170.5m118.6m140.3m126.6m116.9m14.7m140.2m145.5m505.1m141.6m

Income tax expense

16.0m15.4m17.6m7.8m17.3m(22.4m)11.2m17.3m10.8m20.8m57.0m25.6m

Net Income

173.9m138.9m152.9m110.9m123.0m148.9m105.7m(2.5m)129.5m124.7m448.1m116.0m

Flex Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

1.6b1.6b1.6b1.8b1.5b

Accounts Receivable

2.7b2.3b2.0b2.2b2.5b

Inventories

3.6b3.5b3.5b3.4b3.8b

Current Assets

9.4b8.7b8.3b8.4b9.2b

PP&E

2.3b2.1b2.3b2.3b2.2b

Goodwill

942.1m984.9m

Total Assets

12.5b11.7b12.4b12.6b13.7b

Accounts Payable

4.7b4.6b4.2b4.5b5.1b

Dividends Payable

Short-term debt

43.0m

Current Liabilities

7.7b6.8b6.6b6.5b7.3b

Long-term debt

2.1b2.0b2.7b2.9b2.9b

Total Debt

2.1b2.0b2.7b2.9b2.9b

Retained Earnings

(4.9b)(4.3b)(3.9b)(3.6b)(3.1b)

Total Equity

2.2b2.4b2.6b2.7b30.2b

EPS

0.61.00.80.6

Debt to Equity Ratio

0.9 x0.9 x1 x1.1 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x

Financial Leverage

5.7 x4.9 x4.8 x4.7 x0.5 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q3, 2018Q1, 2019

Cash

1.3b1.5b1.7b2.3b1.7b1.6b1.7b1.5b1.9b1.6b1.3b1.3b

Accounts Receivable

2.1b2.5b2.6b2.1b2.3b2.2b2.3b

Inventories

3.5b3.6b3.6b3.4b3.6b3.5b3.6b3.6b3.5b3.6b3.7b4.0b

Current Assets

9.0b8.9b9.1b9.1b9.0b9.0b8.4b8.5b8.6b8.6b9.1b9.7b

PP&E

2.3b2.2b2.1b2.1b2.2b2.2b2.3b2.3b2.3b2.3b2.4b2.2b

Goodwill

1.0b1.1b1.1b

Total Assets

12.1b11.9b12.1b12.1b12.7b13.0b12.5b12.7b12.8b13.0b13.8b14.3b

Accounts Payable

4.7b4.7b4.9b4.3b4.8b4.8b4.3b4.5b4.7b4.8b5.4b5.7b

Current Liabilities

7.2b7.1b7.2b6.5b7.0b7.2b6.6b6.9b6.9b6.8b7.4b7.8b

Long-term debt

2.1b2.1b2.0b2.6b2.6b2.7b2.7b2.7b2.8b2.9b2.9b2.9b

Total Debt

2.1b2.1b2.0b2.6b2.6b2.7b2.7b2.7b2.8b2.9b2.9b2.9b

Retained Earnings

(4.8b)(4.6b)(4.5b)(4.2b)(4.1b)(4.0b)(3.8b)(3.8b)(3.7b)(3.4b)(3.1b)(3.0b)

Total Equity

2.3b2.3b2.4b2.5b2.5b2.6b2.7b2.6b2.6b2.8b3.0b3.1b

EPS

0.20.20.30.20.20.30.20.20.2

Debt to Equity Ratio

0.9 x0.9 x0.9 x1.1 x1.1 x1.1 x1 x1 x1.1 x1 x1 x0.9 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x

Financial Leverage

5.2 x5.1 x5.1 x4.9 x5.2 x5.1 x4.7 x4.9 x4.8 x4.6 x4.6 x4.6 x

Flex Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

365.6m600.8m444.1m319.6m428.5m

Depreciation and Amortization

515.4m609.7m555.4m

Accounts Receivable

(590.0m)317.0m318.0m(164.2m)(296.9m)

Inventories

(760.0m)72.7m84.8m85.0m354.3m

Accounts Payable

1.1b(176.9m)(365.1m)268.7m623.1m

Cash From Operating Activities

1.2b794.0m1.1b1.1b753.6m

Purchases of PP&E

(609.6m)(347.4m)(510.6m)(525.1m)(562.0m)

Cash From Investing Activities

(783.9m)(242.2m)(1.4b)(702.2m)909.0m

Long-term Borrowings

(537.6m)(344.2m)(190.2m)(141.7m)(1.4b)

Cash From Financing Activities

(410.8m)(516.0m)249.6m(242.1m)(187.8m)

Net Change in Cash

6.6m34.7m(20.8m)223.1m(358.3m)

Income Taxes Paid

(36.3m)(59.3m)(64.3m)(20.0m)

Quarterly

USDQ1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q3, 2018Q1, 2019

Net Income

110.9m233.8m382.7m105.7m103.2m232.7m124.7m448.1m116.0m

Cash From Operating Activities

362.3m662.0m939.8m263.9m543.6m1.0b138.5m431.0m(671.8m)

Purchases of PP&E

(138.3m)(296.4m)(418.6m)(159.1m)(305.9m)(413.6m)(124.9m)(432.9m)(172.2m)

Cash From Investing Activities

(162.0m)(946.4m)(1.3b)(111.8m)412.8m(579.4m)(352.3m)(782.9m)471.6m

Long-term Borrowings

(8.5m)(21.1m)(40.7m)(92.2m)(110.6m)(115.1m)(7.6m)

Cash From Financing Activities

506.4m343.7m386.5m(95.1m)(215.7m)(204.6m)(23.1m)(173.4m)14.0k

Net Change in Cash

703.0m40.0m5.8m71.8m(70.5m)249.5m(248.5m)

Flex Ratios

USDY, 2018

EV/CFO

-11.9 x

Debt/Equity

0.9 x

Debt/Assets

0.2 x

Financial Leverage

4.6 x
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Flex Operating Metrics

FY, 2015FY, 2016FY, 2017

Bookings (Communications and Enterprise Compute)

$2 b

Bookings (Consumer Technologies Group)

$1 b

Bookings (Industrial and Emerging Industries)

$2 b

Countries

30 30 30

Manufacturing Facilities

100 100 100
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