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Flex Ltd. FLEX Operating margin

Operating margin at other companies

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2.5%+0.4pp
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FortiveFTV
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6%-3.7pp

Other financials

Income statement

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Revenue$7.5B+16.9%
Gross profit$730.0M+29.7%
Operating income$372.0M+22.0%
Net income$250.0M+12.6%
EPS (diluted)$0.67+17.5%

Balance sheet

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Cash & equivalents$2.4B+4.4%
Total debt$4.5B+4.3%
Total equity$5.1B+2.8%
Total assets$22.1B+20.0%

Cash flow

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Operating cash flow$413.0M-4.6%
CapEx$202.0M+80.4%
Free cash flow$211.0M-34.3%

Valuation

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Market cap$52.44B+89.9%
Enterprise value$54.52B+78.2%
P/E59.6×+26.6×
P/S1.9×+0.8×

Profitability

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Gross margin9.4%+0.9pp
Net margin3.2%-0.1pp

Returns & leverage

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Return on equity17.3%+1.1pp
Debt / equity0.9×0.0×
Current ratio1.4×+0.1×

Where this comes from

Calculated from Flex Ltd.’s reported figures.

Based on trailing twelve months.

The official record: Flex Ltd.’s 10-K, filed May 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Flex Ltd.'s operating margin?
Flex Ltd. (FLEX) reported operating margin of 4.9% in Q1 2026.
How has Flex Ltd.'s operating margin changed year-over-year?
Flex Ltd.'s operating margin increased by 8.2% year-over-year, from 4.5% to 4.9%.
What is the long-term trend for Flex Ltd.'s operating margin?
Over 4 years (2022 to 2026), Flex Ltd.'s operating margin has grown at a 5.6% compound annual growth rate (CAGR), from 15.5% to 19.3%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.