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Flex Ltd. — Intrinsic Value & Fair Price

FLEX
NASDAQTechnologyHardware, Equipment & PartsCIK 0000866374flex.comAbout FLEX
Last close · Oct 16, 202690.46−8.04 (−8.16%)
Market cap$33.4B
Model value · DCF · Perpetuity growth · 5y
58.68
Flex closed at $90.46 — overvalued by 54% vs model.
39.64the model's range104.01

DCF · Perpetuity growth · 5y leads for mature & stable — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
11.63 – 146.82
Wall St. target
149.00 39% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Research on FLEX

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How it is valued

Valued asMature & Stable
Low/slowing growth (~3% recent)Thin margins (3.2% net margin)Highly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2026
P/E
38.8×
EV / EBITDA
16.8×
FCF yield
3.1%
Dividend yield, TTM
0.00%
Beta
1.66
Cost of capital (WACC)
10.38%
Full financials

Analyst actions

third-party, quoted
07-30Barclays · target144.00
07-30Goldman Sachs · target154.00
07-30Robert W. Baird · target142.00
07-25Craig-Hallum · “Buy” from “Hold”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just FLEX. No account.

About Flex

Flex Ltd. is a global provider offering extensive design, engineering, manufacturing, and supply chain management solutions to original equipment manufacturers (OEMs) across Asia, the Americas, and Europe. Its operations are structured into three primary segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company specializes in a range of cross-industry technologies, such as human-machine interfaces, Internet of Things (IoT) platforms, advanced power solutions, sensor fusion, and smart audio systems. A significant offering includes integrated solar tracker and software solutions tailored for utility-scale and ground-mounted distributed generation solar projects. Flex also delivers value-added design and engineering support, alongside comprehensive systems assembly and manufacturing services. These encompass enclosure fabrication, rigorous testing, and meticulous materials procurement and inventory management. Their product line features power components like chargers for smartphones and tablets, adapters for notebooks and gaming systems, and power supplies for server, storage, and networking markets. Furthermore, they provide full power solutions, including switchgear, busway, power distribution units, modular power systems, and related monitoring services. Beyond production, Flex offers end-to-end supply chain logistics, covering both forward and after-market services for computing, consumer digital, infrastructure, industrial, mobile, automotive, and medical sectors. Their reverse logistics and repair capabilities include returns management, exchange programs, complex repairs, asset recovery, recycling, and e-waste management. The company serves a broad spectrum of industries, including cloud computing, communications, enterprise, automotive, industrial, consumer devices, lifestyle, healthcare, and energy. Founded in 1990 in Singapore, the company was formerly known as Flextronics International Ltd. before adopting the name Flex Ltd. in September 2016.

CEO
Revathi Advaithi
Headquarters
Austin, TX
Employees
149,686
IPO
1994-03-18
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.