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Fabrinet (FN) 10-Year Financial Performance & Capital Metrics

FN • • Industrial / General
TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Specialized Manufacturing Services
AboutFabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing. Its products include switching products, including reconfigurable optical add-drop multiplexers, optical amplifiers, modulators, and other optical components and modules that enable network managers to route voice, video, and data communications traffic through fiber optic cables at various wavelengths, speeds, and over various distances. The company's products also comprise tunable lasers, transceivers, and transponders; and active optical cables, which provide high-speed interconnect capabilities for data centers and computing clusters, as well as Infiniband, Ethernet, fiber channel, and optical backplane connectivity. In addition, it provides solid state, diode-pumped, gas, and fiber lasers used in semiconductor processing, biotechnology and medical device, metrology, and material processing industries; and differential pressure, micro-gyro, fuel, and other sensors used in automobiles, as well as non-contact temperature measurement sensors for the medical industry. Further, the company designs and fabricates application-specific crystals, lenses, prisms, mirrors, laser components, and substrates; and other custom and standard borosilicate, clear fused quartz, and synthetic fused silica glass products. It serves original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors. The company was incorporated in 1999 and is based in George Town, the Cayman Islands.Show more
  • Revenue $3.42B +18.6%
  • EBITDA $378M +15.7%
  • Net Income $333M +12.3%
  • EPS (Diluted) 9.17 +13.2%
  • Gross Margin 12.09% -2.1%
  • EBITDA Margin 11.05% -2.5%
  • Operating Margin 9.49% -1.5%
  • Net Margin 9.72% -5.3%
  • ROE 17.84% -3.2%
  • ROIC 16.11% +0.2%
  • Debt/Equity 0.00 -3.4%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 24.0%
  • ✓Momentum leader: RS Rating 86 (top 14%)
  • ✓Strong 5Y sales CAGR of 15.8%
  • ✓Good 3Y average ROE of 18.2%
  • ✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.02%
5Y15.8%
3Y14.76%
TTM19.71%

Profit (Net Income) CAGR

10Y22.52%
5Y23.99%
3Y18.39%
TTM12.84%

EPS CAGR

10Y22.45%
5Y24.96%
3Y19.6%
TTM14.79%

ROCE

10Y Avg14.89%
5Y Avg16.43%
3Y Avg17.34%
Latest17.07%

Peer Comparison

Specialized Manufacturing Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
PENGPenguin Solutions, Inc.1.05B20.0171.4616.91%1.85%4.17%9.52%0.86
FNFabrinet17.83B497.5854.2618.6%9.69%16.89%1.16%0.00
DAIOData I/O Corporation30.99M3.30-9.71-22.43%-16.16%-22.91%0.16
NSYSNortech Systems Incorporated23.35M8.38-17.83-8.04%-2.25%-7.88%0.53

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+976.75M1.42B1.37B1.58B1.64B1.88B2.26B2.65B2.88B3.42B
Revenue Growth %0.26%0.45%-0.03%0.15%0.04%0.14%0.2%0.17%0.09%0.19%
Cost of Goods Sold+857.22M1.25B1.22B1.41B1.46B1.66B1.98B2.31B2.53B3.01B
COGS % of Revenue0.88%0.88%0.89%0.89%0.89%0.88%0.88%0.87%0.88%0.88%
Gross Profit+119.52M171.46M153.41M179.22M186.1M221.36M278.59M336.27M356.12M413.35M
Gross Margin %0.12%0.12%0.11%0.11%0.11%0.12%0.12%0.13%0.12%0.12%
Gross Profit Growth %0.36%0.43%-0.11%0.17%0.04%0.19%0.26%0.21%0.06%0.16%
Operating Expenses+49.72M65.63M59.59M56.58M68.7M70.61M74.08M84.57M78.51M88.9M
OpEx % of Revenue0.05%0.05%0.04%0.04%0.04%0.04%0.03%0.03%0.03%0.03%
Selling, General & Admin49.75M65.63M57.81M55.07M68.37M70.57M73.94M77.67M78.12M87.47M
SG&A % of Revenue0.05%0.05%0.04%0.03%0.04%0.04%0.03%0.03%0.03%0.03%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses-36K01.78M1.52M329K43K135K6.9M32K1.44M
Operating Income+69.81M105.83M93.82M122.64M117.4M150.75M204.52M251.7M277.61M324.45M
Operating Margin %0.07%0.07%0.07%0.08%0.07%0.08%0.09%0.1%0.1%0.09%
Operating Income Growth %0.48%0.52%-0.11%0.31%-0.04%0.28%0.36%0.23%0.1%0.17%
EBITDA+87.16M129.63M122.91M152.59M148.28M187M243.26M295.54M326.62M377.88M
EBITDA Margin %0.09%0.09%0.09%0.1%0.09%0.1%0.11%0.11%0.11%0.11%
EBITDA Growth %0.45%0.49%-0.05%0.24%-0.03%0.26%0.3%0.21%0.11%0.16%
D&A (Non-Cash Add-back)17.36M23.79M29.09M29.94M30.88M36.25M38.74M43.83M49.02M53.43M
EBIT69.8M107.18M91.64M131.61M122.29M151.58M207.4M261.57M311.48M355.18M
Net Interest Income+-34K-1.34M319K1.32M4.55M2.68M1.77M9.76M33.08M40.16M
Interest Income1.53M1.98M3.92M6.7M7.59M3.78M2.21M11.23M33.2M40.16M
Interest Expense1.57M3.32M3.61M5.38M3.04M1.1M432K1.47M124K0
Other Income/Expense-1.57M-1.98M-5.79M3.59M1.84M-269K2.45M8.39M33.75M30.73M
Pretax Income+68.23M103.86M88.03M126.23M119.24M150.48M206.97M260.1M311.35M355.18M
Pretax Margin %0.07%0.07%0.06%0.08%0.07%0.08%0.09%0.1%0.11%0.1%
Income Tax+6.33M6.74M3.86M5.28M5.76M2.14M6.59M12.18M15.17M22.65M
Effective Tax Rate %0.91%0.94%0.96%0.96%0.95%0.99%0.97%0.95%0.95%0.94%
Net Income+61.9M97.11M84.17M120.95M113.48M148.34M200.38M247.91M296.18M332.53M
Net Margin %0.06%0.07%0.06%0.08%0.07%0.08%0.09%0.09%0.1%0.1%
Net Income Growth %0.42%0.57%-0.13%0.44%-0.06%0.31%0.35%0.24%0.19%0.12%
Net Income (Continuing)61.9M97.11M84.17M120.95M113.48M148.34M200.38M247.91M296.18M332.53M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+1.682.572.213.233.013.955.366.738.109.17
EPS Growth %0.39%0.53%-0.14%0.46%-0.07%0.31%0.36%0.26%0.2%0.13%
EPS (Basic)1.732.632.263.293.074.025.436.798.179.23
Diluted Shares Outstanding36.87M37.85M38.03M37.41M37.66M37.55M37.39M36.85M36.56M36.27M
Basic Shares Outstanding35.86M36.93M37.26M36.8M36.91M36.87M36.88M36.52M36.25M36.02M
Dividend Payout Ratio----------

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+673.29M798.75M854.31M1.02B1.14B1.35B1.53B1.65B2.01B2.43B
Cash & Short-Term Investments284.51M285.27M332.37M437.33M488.12M547.93M478.15M550.47M858.6M934.24M
Cash Only142.8M133.82M158.1M180.84M225.43M302.97M198M231.37M409.97M306.43M
Short-Term Investments141.71M151.45M174.27M256.49M262.69M244.96M280.16M319.1M448.63M627.82M
Accounts Receivable196.15M264.35M246.91M273.05M310.23M348.43M452.67M531.77M592.45M758.89M
Days Sales Outstanding73.367.9365.6962.9168.9767.6773.0473.3875.0181.01
Inventory181.5M238.66M257.69M293.61M309.79M422.13M557.14M519.58M463.21M581.01M
Days Inventory Outstanding77.2869.7477.1976.2777.6792.93102.5282.1366.9170.55
Other Current Assets8.02M4.16M9.28M11.02M21.91M22.62M25.47M42.88M87.81M116.21M
Total Non-Current Assets+183.16M234.32M233.71M231.48M246.53M263.62M310.47M327.11M325.83M402.59M
Property, Plant & Equipment178.41M216.88M219.64M210.69M236.34M247.83M296.36M311.98M312.58M386.41M
Fixed Asset Turnover5.47x6.55x6.25x7.52x6.95x7.58x7.63x8.48x9.22x8.85x
Goodwill03.81M3.83M3.71M000000
Intangible Assets499K5.84M4.88M3.89M4.31M4.37M3.51M2.39M2.32M2.16M
Long-Term Investments01.58M0000149K000
Other Non-Current Assets2.44M3.31M80K7.53M202K1.83M652K635K485K623K
Total Assets+856.45M1.03B1.09B1.26B1.38B1.62B1.84B1.98B2.34B2.83B
Asset Turnover1.14x1.38x1.26x1.26x1.19x1.16x1.23x1.34x1.23x1.21x
Asset Growth %0.27%0.21%0.05%0.15%0.1%0.17%0.14%0.08%0.18%0.21%
Total Current Liabilities+256.02M311.27M270.12M313.05M334.42M444.36M538.49M481.88M557.94M809.84M
Accounts Payable172.05M215.26M220.16M257.62M251.6M346.56M439.68M381.13M441.83M637.42M
Days Payables Outstanding73.2662.9165.9566.9263.0976.2980.960.2563.8277.4
Short-Term Debt24.31M48.4M3.25M3.25M12.16M12.16M12.16M12.16M00
Deferred Revenue (Current)0001000K1000K1000K1000K000
Other Current Liabilities003.33M000-1.98M000
Current Ratio2.63x2.57x3.16x3.27x3.40x3.04x2.83x3.43x3.61x3.00x
Quick Ratio1.92x1.80x2.21x2.33x2.47x2.09x1.80x2.35x2.78x2.28x
Cash Conversion Cycle77.3274.7676.9372.2683.5684.3194.6595.2678.0974.16
Total Non-Current Liabilities+46.01M40.23M76.96M79.17M73.15M59.24M43.47M29.11M34.83M39.78M
Long-Term Debt36.1M22.7M60.94M57.69M39.51M27.36M15.2M000
Capital Lease Obligations01.02M516K05.87M3.85M1.48M66K3.63M3.68M
Deferred Tax Liabilities854K1.98M2.28M3.56M4.73M5.11M6M4.8M4.89M1.59M
Other Non-Current Liabilities8.76M14.52M13.22M17.92M23.03M22.93M20.79M24.24M26.3M34.5M
Total Liabilities302.03M351.5M347.08M392.22M407.57M503.6M581.96M510.99M592.77M849.62M
Total Debt+61M72.47M65.16M60.94M59.52M45.96M31.15M13.42M4.99M5.47M
Net Debt-81.8M-61.35M-92.95M-119.9M-165.91M-257.01M-166.84M-217.94M-404.98M-300.95M
Debt / Equity0.11x0.11x0.09x0.07x0.06x0.04x0.02x0.01x0.00x0.00x
Debt / EBITDA0.70x0.56x0.53x0.40x0.40x0.25x0.13x0.05x0.02x0.01x
Net Debt / EBITDA-0.94x-0.47x-0.76x-0.79x-1.12x-1.37x-0.69x-0.74x-1.24x-0.80x
Interest Coverage44.49x31.87x26.02x22.79x38.57x137.05x473.42x170.99x2238.75x-
Total Equity+554.42M681.57M740.94M863.1M974.41M1.11B1.25B1.47B1.75B1.98B
Equity Growth %0.16%0.23%0.09%0.16%0.13%0.14%0.13%0.17%0.19%0.14%
Book Value per Share15.0418.0119.4823.0725.8729.6233.5339.8547.7454.65
Total Shareholders' Equity554.42M681.57M740.94M863.1M974.41M1.11B1.25B1.47B1.75B1.98B
Common Stock362K373K377K382K385K388K390K393K395K396K
Retained Earnings451.14M548.26M632.42M754.58M868.06M1.02B1.22B1.46B1.76B2.09B
Treasury Stock00-42.4M-47.78M-68.5M-87.34M-147.26M-194.83M-234.32M-360.06M
Accumulated OCI591K-348K-1.26M-2.39M-1.15M-6.27M-12.79M-8.12M-3.14M10.29M
Minority Interest0000000000

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+47.09M70.93M138.08M147.39M150.66M122.16M124.25M213.31M413.15M328.37M
Operating CF Margin %0.05%0.05%0.1%0.09%0.09%0.07%0.05%0.08%0.14%0.1%
Operating CF Growth %-0.11%0.51%0.95%0.07%0.02%-0.19%0.02%0.72%0.94%-0.21%
Net Income61.9M97.11M84.17M120.95M113.48M148.34M200.38M247.91M296.18M332.53M
Depreciation & Amortization17.36M23.79M29.09M29.94M30.88M36.25M38.74M43.83M49.02M53.43M
Stock-Based Compensation9.93M26.51M22.58M17.16M22.2M25.46M28.05M28.13M28.37M33M
Deferred Taxes864K754K-2.07M879K1.26M-3.47M-191K-3.48M1.67M-5.73M
Other Non-Cash Items4.46M6.09M7.21M-4.93M8.1M2.18M2.43M980K-3.43M4.29M
Working Capital Changes-47.42M-83.33M-2.89M-16.61M-25.26M-86.92M-145.16M-104.06M41.33M-89.16M
Change in Receivables-61.01M-64.14M17.85M-13.49M-12.26M-62.43M-103.97M-76.92M-61.28M-165.66M
Change in Inventory-50.6M-53.8M-19.43M-44.03M-16.17M-112.35M-135.01M37.45M56.37M-117.81M
Change in Payables56.31M38.29M3.5M38.81M-5.99M96.31M93.5M-58.6M60.04M194.24M
Cash from Investing+-39.6M-90.56M-58.65M-98.07M-71.25M-8.93M-135.54M-98.72M-169.75M-286.3M
Capital Expenditures-40.99M-70.03M-35.4M-18.94M-42.33M-46.06M-89.59M-61.36M-47.53M-121.08M
CapEx % of Revenue0.04%0.05%0.03%0.01%0.03%0.02%0.04%0.02%0.02%0.04%
Acquisitions----------
Investments----------
Other Investing935K230K-1.13M317K-24.31M22.39M-995K-783K1.8M-486K
Cash from Financing+22.86M13.43M-54.11M-23.22M-35.3M-42.75M-92.93M-80.98M-64.85M-147.01M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-3.12M-1.43M-5.51M-14.13M-5.04M-11.62M-20.82M-18.17M-13.18M-21.27M
Net Change in Cash----------
Free Cash Flow+6.09M904K102.68M128.45M107.15M74.18M33.66M151.04M365.62M206.55M
FCF Margin %0.01%0%0.07%0.08%0.07%0.04%0.01%0.06%0.13%0.06%
FCF Growth %4.55%-0.85%112.58%0.25%-0.17%-0.31%-0.55%3.49%1.42%-0.44%
FCF per Share0.170.022.703.432.841.980.904.1010.005.70
FCF Conversion (FCF/Net Income)0.76x0.73x1.64x1.22x1.33x0.82x0.62x0.86x1.39x0.99x
Interest Paid1.09M1.92M2.22M2.6M1.69M2.44M2.24M2.38M312K0
Taxes Paid5.47M5.22M1.35M7.64M8.47M7.95M9.3M14.16M16.45M24.3M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)11.98%15.71%11.83%15.08%12.35%14.22%16.94%18.21%18.43%17.84%
Return on Invested Capital (ROIC)11.91%14.53%11.1%13.22%11.35%13.59%15.79%16.15%16.07%16.11%
Gross Margin12.24%12.07%11.18%11.31%11.34%11.78%12.31%12.71%12.35%12.09%
Net Margin6.34%6.84%6.13%7.63%6.91%7.89%8.86%9.37%10.27%9.72%
Debt / Equity0.11x0.11x0.09x0.07x0.06x0.04x0.02x0.01x0.00x0.00x
Interest Coverage44.49x31.87x26.02x22.79x38.57x137.05x473.42x170.99x2238.75x-
FCF Conversion0.76x0.73x1.64x1.22x1.33x0.82x0.62x0.86x1.39x0.99x
Revenue Growth26.26%45.43%-3.42%15.48%3.63%14.47%20.37%16.93%8.99%18.6%

Revenue by Segment

2016201720182019202020212022202320242025
Optical Communications------1.78B2.01B2.29B2.62B
Optical Communications Growth-------12.65%13.98%14.43%
Lasers, Sensors, And Other------479.43M636.89M--
Lasers, Sensors, And Other Growth-------32.84%--
Optical communications---1.18B1.25B1.44B----
Optical communications Growth----5.34%15.48%----
Lasers, sensors, and other---399.4M393.66M438.01M----
Lasers, sensors, and other Growth-----1.44%11.27%----
Product 1727.58M1.11B1B-------
Product 1 Growth-52.37%-9.78%-------
Product 2249.17M311.85M371.67M-------
Product 2 Growth-25.16%19.18%-------

Revenue by Geography

2016201720182019202020212022202320242025
Asia Pacific351.03M539.32M519.2M608.39M552.92M668.6M838.05M1.14B1.65B1.66B
Asia Pacific Growth-53.64%-3.73%17.18%-9.12%20.92%25.34%36.45%43.95%0.64%
North America525.16M661.27M643.24M756.28M830.89M887.54M1.11B1.27B1.05B1.48B
North America Growth-25.92%-2.73%17.57%9.87%6.82%25.57%13.95%-17.07%40.61%
UNITED STATES---------1.47B
UNITED STATES Growth----------
ISRAEL---------993M
ISRAEL Growth----------
INDIA---------323.6M
INDIA Growth----------
Europe100.55M219.91M209.49M219.67M258.02M323.22M309.67M231.76M183.77M281.94M
Europe Growth-118.70%-4.74%4.86%17.46%25.27%-4.19%-25.16%-20.71%53.42%
HONG KONG---------100.86M
HONG KONG Growth----------
Europe, Other---------81.69M
Europe, Other Growth----------
THAILAND---------57.37M
THAILAND Growth----------
CHINA---------56.37M
CHINA Growth----------
SINGAPORE---------52.54M
SINGAPORE Growth----------
GERMANY---------43.89M
GERMANY Growth----------
JAPAN---------37.54M
JAPAN Growth----------
MALAYSIA---------32.4M
MALAYSIA Growth----------
North America, Other---------6M
North America, Other Growth----------
Asia-Pacific, Other---------2.94M
Asia-Pacific, Other Growth----------

Frequently Asked Questions

Valuation & Price

Fabrinet (FN) has a price-to-earnings (P/E) ratio of 54.3x. This suggests investors expect higher future growth.

Growth & Financials

Fabrinet (FN) reported $3.59B in revenue for fiscal year 2025. This represents a 536% increase from $564.7M in 2012.

Fabrinet (FN) grew revenue by 18.6% over the past year. This is strong growth.

Yes, Fabrinet (FN) is profitable, generating $348.1M in net income for fiscal year 2025 (9.7% net margin).

Dividend & Returns

Fabrinet (FN) has a return on equity (ROE) of 17.8%. This is reasonable for most industries.

Fabrinet (FN) generated $201.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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