Income StatementBalance SheetCash FlowSegments
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Flex Ltd. Cash Flow Statement

Operating, investing, and financing cash movements

Flex Ltd. generated $1.7B in operating cash flow over the trailing twelve months. After $543.0M in capital expenditures, free cash flow was $1.2B. Free cash flow decreased 0.1% year-over-year. Based on the Q4 2025 filing.

Net Cash From Operating (TTM)$1.7BNet Cash From Investing (TTM)-$669.0MNet Cash From Financing (TTM)-$343.0MCapital Expenditures (TTM)$543.0MDepreciation And Amortization Cf$135.0MNet Change In Cash (TTM)$724.0M
Latest FilingQ4 2025
Report Date2026-02-06
Market Cap$51.4B
P/E Ratio60.28
ROE16.85%

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Acquisitions, net of cash acquired$3.0M$346.0M$58.0M$41.0M$2.0M-$3.0M
Capital expenditures$103.0M$112.0M$112.0M$133.0M$150.0M$148.0M
Payment for (Proceeds from) Other Investing Activity$21.0M-$18.0M—$7.0M$1.0M-$4.0M
Divestiture of businesses, net of cash transferred-$5.3M-$5.3M-$5.3M———
Proceeds from disposals of property, plant and equipment$3.0M$5.0M$4.0M$2.0M$2.0M$3.0M
Net cash from investing activities-$124.0M-$435.0M-$197.0M-$179.0M-$155.0M-$138.0M

Supplemental

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Capital expenditures incurred but not yet paid$27.0M$24.0M—$109.0M$6.0M$18.0M

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Change in accounts payable$157.5M$157.5M$157.5M———
Change in accounts receivable$150.3M$150.3M$150.3M———
Change in inventories-$294.0M-$294.0M-$294.0M———
Change in other liabilities-$197.3M-$197.3M-$197.3M———
Depreciation and amortization$131.0M$144.0M—$142.0M$156.0M$135.0M
Net cash from operating activities$319.0M$413.0M$433.0M$399.0M$453.0M$420.0M
Net income$214.0M$263.0M$222.0M$192.0M$199.0M$239.0M
Deferred income taxes$5.8M$5.8M$5.8M———
Depreciation$109.8M$109.8M$109.8M———
Increase Decrease In Commodity Contract Assets And Liabilities$91.3M$91.3M$91.3M———
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital$26.0M-$6.0M—-$65.0M-$98.0M-$46.0M
Increase (Decrease) in Other Operating Assets$54.0M$54.0M$54.0M———
Non-cash lease expense$35.5M$35.5M$35.5M———
Depreciation and amortization$25.0M$25.0M$25.0M———
Other Noncash Income (Expense)-$750.0K-$750.0K-$750.0K———
Stock-based compensation$31.3M$31.3M$31.3M———

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Distributions to noncontrolling interests$0.0$0.0$0.0———
Capital Reduction From Spinoff$0.0$0.0$0.0———
Proceeds from issuances of debt$496.0M$3.0M$0.0$500.0M$0.0$746.0M
Other, net-$36.0M-$1.0M—-$4.0M$8.0M-$15.0M
Repayments of Debt and Lease Obligation$16.0M$1.0M$0.0$532.0M$3.0M$7.0M
Net cash from financing activities$147.0M-$203.0M-$297.0M-$283.0M-$292.0M$529.0M
Repurchases of common stock$300.0M$201.0M$299.0M$247.0M$297.0M$200.0M

Free Cash Flow

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Free cash flow$216.0M$301.0M$321.0M$266.0M$303.0M$272.0M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of exchange rate changes on cash$16.0M-$43.0M—$13.0M$4.0M-$3.0M
Net increase (decrease) in cash$358.0M-$268.0M-$44.0M-$50.0M$10.0M$808.0M
Leased assets obtained in exchange for operating lease liabilities$23.0M$43.0M—$152.0M$54.0M$1.0M