Plexus

PLXS

Hardware, Equipment & Parts · Technology

Price

$250.63

+1.83 (+0.74%)

Market Cap

$6.71B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−5.3% over 4y

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

Diluted shares outstanding: 29.2M (2021) → 27.6M (2025)

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors. Plexus Corp. was founded in 1979 and is headquartered in Neenah, Wisconsin.

Winston Score History

Politician Trades

9 trades / 12mo

3 Congressional buys and 6 sells on PLXS 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

+18.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+29.2% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

1.4%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$303M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Plexus is a rare growth stock that's already generating positive cash flow while growing at 19%. 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

10.2%

Thin — 10.2% gross margin

Operating Margin

5.3%

Thin — 5.3% operating margin

ROCE

3.5%

Weak — 3.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+8.9%

Steady sales growth (8.9% YoY)

EPS YoY

+56.2%

Earnings growing fast (56.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

92%

Modest — 92% of profit becomes cash

FCF Margin

1.8%

Thin free cash flow (1.8%)

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

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Stability

Debt / Equity

0.17

Conservative — low debt load (0.17)

Interest Cover

19.87x

Comfortably covers interest (19.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

35.9x

Pricey — P/E 35.9

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

P/E vs Forward

-0.7

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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