Flex

FLEX

Hardware, Equipment & Parts · Technology

Price

$119.25

-1.87 (-1.54%)

Market Cap

$43.69B

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−22.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 483.0M (2022) → 374.0M (2026)

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 three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio. It also offers integrated solar tracker and software solutions u

Winston Score History

Politician Trades

18 trades / 12mo

2 Congressional buys and 16 sells on FLEX in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+17.5% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

0.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$2.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Flex is a rare growth stock that's already generating positive cash flow while growing at 17%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

9.4%

Thin — 9.4% gross margin

Operating Margin

6.7%

Modest — 6.7% operating margin

ROCE

8.7%

Below par — 8.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+14.7%

Fast-growing sales (14.7% YoY)

EPS YoY

-9.8%

Earnings shrinking (-9.8% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

189%

Turns 189% of profit into real cash

FCF Margin

4.0%

Thin free cash flow (4.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.11

Conservative — low debt load (0.11)

Interest Cover

6.76x

Adequate interest coverage (6.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

49.7x

Expensive — P/E 49.7

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+19.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (49.7 → 30.6)

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Dividends

Not applicable for this business.

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