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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 $633.0M in capital expenditures, free cash flow was $1.1B. Free cash flow decreased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.7BNet Cash From Investing (TTM)-$672.0MNet Cash From Financing (TTM)-$1.1BCapital Expenditures (TTM)$633.0MDepreciation And Amortization Cf$135.0MNet Change In Cash (TTM)-$4.0M
Latest FilingQ1 2026
Report Date2026-05-20
Market Cap$55.7B
P/E Ratio63.28
ROE17.35%

Investing

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Acquisitions, net of cash acquired$346M$58M$41M$2M——
Capital expenditures$112M$112M$133M$150M$148M$202M
Payment for (Proceeds from) Other Investing Activity-$18M—$7M$1M——
Divestiture of businesses, net of cash transferred$0-$21M-$1M-$1M-$1M-$1M
Proceeds from disposals of property, plant and equipment$5M$4M$2M$2M$3M$1M
Net cash from investing activities-$435M-$197M-$179M-$155M-$138M-$200M
Other investing activities-$2.8M-$2.8M$750K$750K$750K$750K
Proceeds from sale of businesses-$5.3M-$5.3M-$1M-$1M-$1M-$1M
Proceeds from sale of property, plant and equipment$3.8M$3.8M$2M$2M$2M$2M

Operating

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Change in accounts payable$157.5M$157.5M$714.5M$714.5M$714.5M$714.5M
Change in accounts receivable$150.3M$150.3M$244.8M$244.8M$244.8M$244.8M
Change in inventories-$294M-$294M$185.5M$185.5M$185.5M$185.5M
Change in other assets$54M$54M$292.3M$292.3M$292.3M$292.3M
Change in other liabilities-$197.3M-$197.3M$84.5M$84.5M$84.5M$84.5M
Other working capital changes-$750K-$750K-$20M-$20M-$20M-$20M
Depreciation and amortization$144M—$142M$156M$135M—
Net cash from operating activities$413M$433M$399M$453M$420M$413M
Net income$263M$222M$192M$199M$239M$250M
Deferred income taxes$5.8M$5.8M$250K$250K$250K$250K
Increase Decrease In Commodity Contract Assets And Liabilities$91.3M$91.3M$108.8M$108.8M$108.8M$108.8M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital-$6M—-$65M-$98M-$46M—
Non-cash lease expense$35.5M$35.5M$37M$37M$37M$37M
Stock-based compensation$31.3M$31.3M$35.5M$35.5M$35.5M$35.5M

Financing

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Proceeds from issuance of debt$124.8M$124.8M$312.8M$312.8M$312.8M$312.8M
Repayments of debt$14.5M$14.5M$304.3M$304.3M$304.3M$304.3M
Capital Reduction From Spinoff$0$0$0$0$0$0
Proceeds from issuances of debt——$500M—$746M—
Other, net-$1M—-$4M$8M-$15M-$3M
Repayments of Debt and Lease Obligation$1M$0$532M$3M$7M$675M
Net cash from financing activities-$203M-$297M-$283M-$292M—-$878M
Other financing activities-$1.3M-$1.3M-$3.5M-$3.5M-$3.5M-$3.5M
Repurchases of common stock$201M$299M$247M$297M$200M$200M

Free Cash Flow

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Free cash flow$301M$321M$266M$303M$272M$211M

Other

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Effect of exchange rate changes on cash-$43M—$13M$4M——
Net increase (decrease) in cash-$268M-$44M-$50M—$808M—
Accrued payables for capital expenditures$24M—$109M$6M$18M—
Leased assets obtained in exchange for operating lease liabilities$43M—$152M$54M$1M—