Revenue growth has accelerated to 52.8% in 2026Q1, supported by structural gross margins that have consistently remained above the 10% threshold.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 13.81B | 12.61B | 9.65B | 7.96B | 7.25B | 5.63B | 5.75B | 5.89B | 6.63B | 6.14B | 6.05B | 5.64B | 5.63B | 5.8B | 6.51B | 7.21B | 6.53B | 6.09B | 7.68B | 8.07B | 8.81B | 8.47B | 8.84B | 6.74B | 8.27B | 10B | 9.75B | 5.3B | 3.25B | 2B |
| Revenue Growth % | 36.93% | 30.71% | 21.17% | 9.81% | 28.67% | -1.97% | -2.38% | -11.23% | 7.99% | 1.59% | 7.22% | 0.14% | -2.84% | -10.93% | -9.79% | 10.53% | 7.12% | -20.66% | -4.86% | -8.41% | 4.02% | -4.17% | 31.25% | -18.57% | -17.32% | 2.59% | 84.1% | 63.03% | 62.09% | - |
| Cost of Goods Sold | 12.21B | 11.13B | 8.61B | 7.21B | 6.6B | 5.15B | 5.31B | 5.5B | 6.2B | 5.72B | 5.62B | 5.25B | 5.23B | 5.41B | 6.07B | 6.72B | 6.08B | 5.66B | 7.15B | 7.65B | 8.36B | 7.99B | 8.43B | 6.48B | 7.72B | 9.29B | 9.06B | 4.84B | 2.98B | 1.84B |
| COGS % of Revenue | - | 88.31% | 89.28% | 90.53% | 91.04% | 91.36% | 92.39% | 93.47% | 93.51% | 93.19% | 92.9% | 93.06% | 92.8% | 93.28% | 93.26% | 93.23% | 93.19% | 92.95% | 93.08% | 94.77% | 94.87% | 94.32% | 95.39% | 96.14% | 93.29% | 92.88% | 92.95% | 91.44% | 91.63% | 91.96% |
| Gross Profit | 1.6B | 1.47B | 1.03B | 754.1M | 649.7M | 487M | 437.6M | 384.7M | 430.5M | 418.5M | 429.6M | 391.1M | 405.4M | 389.5M | 438.4M | 488.6M | 444.1M | 429.8M | 531.1M | 422.4M | 451.8M | 481.1M | 407.9M | 260.1M | 555.1M | 712.5M | 688M | 453.5M | 272.1M | 161.22M |
| Gross Margin % | 11.61% | 11.69% | 10.72% | 9.47% | 8.96% | 8.64% | 7.61% | 6.53% | 6.49% | 6.81% | 7.1% | 6.94% | 7.2% | 6.72% | 6.74% | 6.77% | 6.8% | 7.05% | 6.92% | 5.23% | 5.13% | 5.68% | 4.61% | 3.86% | 6.71% | 7.12% | 7.05% | 8.56% | 8.37% | 8.04% |
| Gross Profit Growth % | - | 42.58% | 37.08% | 16.07% | 33.41% | 11.29% | 13.75% | -10.64% | 2.87% | -2.58% | 9.84% | -3.53% | 4.08% | -11.15% | -10.27% | 10.02% | 3.33% | -19.07% | 25.73% | -6.51% | -6.09% | 17.95% | 56.82% | -53.14% | -22.09% | 3.56% | 51.71% | 66.67% | 68.78% | - |
| Operating Expenses | 520.01M | 384.72M | 434.4M | 415.8M | 360.4M | 319.3M | 309.7M | 235.4M | 324.2M | 275.3M | 270.9M | 275.7M | 277.7M | 255.9M | 323M | 287.2M | 317.8M | 429.8M | 531.1M | 316.5M | 313.5M | 325.9M | 523M | 416.3M | 800.9M | 762.3M | 414.99M | 328.7M | 217.5M | 105.24M |
| OpEx % of Revenue | - | 3.05% | 4.5% | 5.22% | 4.97% | 5.67% | 5.39% | 4% | 4.89% | 4.48% | 4.48% | 4.89% | 4.93% | 4.42% | 4.96% | 3.98% | 4.87% | 7.05% | 6.92% | 3.92% | 3.56% | 3.85% | 5.92% | 6.18% | 9.68% | 7.62% | 4.26% | 6.21% | 6.69% | 5.25% |
| Selling, General & Admin | 265.88M | 264.45M | 293.5M | 303.2M | 267.3M | 245.1M | 230.7M | 231.4M | 219M | 205.1M | 211.1M | 207.5M | 210.3M | 222.3M | 237M | 253.4M | 252.1M | 244.5M | 292M | 295.1M | 285.6M | 296.9M | 331.6M | 273.8M | 298.5M | 341.4M | 326.05M | 202.2M | 130.6M | 68.2M |
| SG&A % of Revenue | - | 2.1% | 3.04% | 3.81% | 3.69% | 4.35% | 4.01% | 3.93% | 3.3% | 3.34% | 3.49% | 3.68% | 3.73% | 3.84% | 3.64% | 3.51% | 3.86% | 4.01% | 3.8% | 3.66% | 3.24% | 3.5% | 3.75% | 4.07% | 3.61% | 3.41% | 3.34% | 3.82% | 4.02% | 3.4% |
| Research & Development | 142.26M | 120.27M | 78M | 60.9M | 46.3M | 38.4M | 29.9M | 28.4M | 28.8M | 26.2M | 24.9M | 23.2M | 19.7M | 17.4M | 15.2M | 13.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24M | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 0.95% | 0.81% | 0.77% | 0.64% | 0.68% | 0.52% | 0.48% | 0.43% | 0.43% | 0.41% | 0.41% | 0.35% | 0.3% | 0.23% | 0.19% | - | - | - | - | - | - | - | 0.36% | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 62.9M | 51.7M | 46.8M | 35.8M | 49.1M | -24.4M | 76.4M | 44M | 34.9M | 45M | 47.7M | 16.2M | 70.8M | 20M | 65.7M | 185.3M | 239.1M | 21.4M | 27.9M | 29M | 191.4M | 118.5M | 502.4M | 420.9M | 88.94M | 126.5M | 86.9M | 37.04M |
| Operating Income | 1.08B | 1.09B | 599.3M | 338.3M | 289.3M | 167.7M | 127.9M | 149.3M | 106.3M | 143.2M | 158.7M | 115.4M | 127.7M | 133.6M | 115.4M | 201.4M | 126.3M | 207.5M | 221.6M | 105.9M | 138.3M | 155.2M | -115.1M | -156.2M | -245.8M | -49.8M | 273.01M | 124.8M | 54.6M | 55.97M |
| Operating Margin % | 7.84% | 8.64% | 6.21% | 4.25% | 3.99% | 2.98% | 2.23% | 2.54% | 1.6% | 2.33% | 2.62% | 2.05% | 2.27% | 2.31% | 1.77% | 2.79% | 1.94% | 3.41% | 2.89% | 1.31% | 1.57% | 1.83% | -1.3% | -2.32% | -2.97% | -0.5% | 2.8% | 2.36% | 1.68% | 2.79% |
| Operating Income Growth % | - | 81.73% | 77.15% | 16.94% | 72.51% | 31.12% | -14.33% | 40.45% | -25.77% | -9.77% | 37.52% | -9.63% | -4.42% | 15.77% | -42.7% | 59.46% | -39.13% | -6.36% | 109.25% | -23.43% | -10.89% | 234.84% | 26.31% | 36.45% | -393.57% | -118.24% | 118.76% | 128.57% | -2.46% | - |
| EBITDA | 1.22B | 1.27B | 751.2M | 469.1M | 405.2M | 294M | 252.6M | 284.7M | 195.4M | 219.7M | 234.3M | 183.7M | 196.4M | 205.3M | 197.1M | 278.6M | 213.3M | 307.9M | 330.8M | 236.7M | 272.5M | 307.9M | 92.6M | 66.5M | 65.6M | 269.7M | 485.51M | 251.3M | 141.5M | 93.01M |
| EBITDA Margin % | 8.84% | 10.06% | 7.79% | 5.89% | 5.59% | 5.22% | 4.39% | 4.83% | 2.95% | 3.58% | 3.87% | 3.26% | 3.49% | 3.54% | 3.03% | 3.86% | 3.27% | 5.05% | 4.31% | 2.93% | 3.09% | 3.63% | 1.05% | 0.99% | 0.79% | 2.7% | 4.98% | 4.74% | 4.35% | 4.64% |
| EBITDA Growth % | 67.16% | 68.79% | 60.14% | 15.77% | 37.82% | 16.39% | -11.28% | 45.7% | -11.06% | -6.23% | 27.54% | -6.47% | -4.34% | 4.16% | -29.25% | 30.61% | -30.72% | -6.92% | 39.76% | -13.14% | -11.5% | 232.51% | 39.25% | 1.37% | -75.68% | -44.45% | 93.2% | 77.6% | 52.13% | - |
| D&A (Non-Cash Add-back) | 138.46M | 178.78M | 151.9M | 130.8M | 115.9M | 126.3M | 124.7M | 135.4M | 89.1M | 76.5M | 75.6M | 68.3M | 68.7M | 71.7M | 81.7M | 77.2M | 87M | 100.4M | 109.2M | 130.8M | 134.2M | 152.7M | 207.7M | 222.7M | 311.4M | 319.5M | 212.5M | 126.5M | 86.9M | 37.04M |
| EBIT | 1.18B | 1.05B | 584.3M | 384.9M | 290.8M | 167.7M | 127.9M | 149.3M | 106.3M | 143.2M | 173M | 115.4M | 127.7M | 133.6M | 115.4M | 201.4M | 126.3M | 95.7M | -657.7M | 106M | 139.2M | 155.8M | 41.7M | -62.2M | 160.7M | -27M | 273.01M | 124.8M | 54.6M | 55.97M |
| Net Interest Income | -54.95M | -53.52M | -52.1M | -78.9M | -51.7M | -31.42M | -37.7M | -50.65M | -25.6M | -10.1M | 4.3M | -6.3M | -3.1M | -2.9M | -3.5M | -5.4M | -6.9M | -35M | -42.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.3M | 0 | 0 | 0 | 0 | 0 | 0 | 300K | 15.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 54.95M | 53.52M | 52.1M | 78.9M | 51.7M | 31.42M | 37.7M | 50.65M | 24.4M | 10.1M | 10M | 6.3M | 3.1M | 2.9M | 3.5M | 5.4M | 6.9M | 35.3M | 57.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 44.04M | -88.73M | -67.1M | -32.3M | -50.2M | -31.7M | -37.7M | -49.5M | -24.4M | -10.1M | 4.3M | -6.3M | -3.1M | -2.9M | -3.5M | -5.4M | -6.9M | -147.1M | -937.1M | -98.8M | -274.4M | -180.7M | -486.8M | -77M | -307.9M | 7.9M | 2.88M | -20.3M | -105.1M | -60.73M |
| Pretax Income | 1.13B | 1B | 532.2M | 306M | 239.1M | 136M | 90.2M | 99.8M | 81.9M | 133.1M | 163M | 109.1M | 124.6M | 130.7M | 111.9M | 196M | 119.4M | 60.4M | -715.5M | 7.1M | -136.1M | -25.5M | -601.9M | -233.2M | -553.7M | -41.9M | 275.89M | 104.5M | -50.5M | -4.75M |
| Pretax Margin % | 8.16% | 7.93% | 5.52% | 3.84% | 3.3% | 2.41% | 1.57% | 1.69% | 1.23% | 2.17% | 2.7% | 1.93% | 2.21% | 2.25% | 1.72% | 2.72% | 1.83% | 0.99% | -9.32% | 0.09% | -1.54% | -0.3% | -6.81% | -3.46% | -6.69% | -0.42% | 2.83% | 1.97% | -1.55% | -0.24% |
| Income Tax | 167.24M | 153.34M | 104.2M | 61.6M | 59M | 32.1M | 29.6M | 29.5M | -17M | 27.6M | 24.7M | 42.2M | 16.4M | 12.7M | -5.8M | 3.7M | 18.2M | 5.4M | 5M | 20.8M | 14.5M | 21.3M | 252.2M | 33.5M | -98.3M | -2.1M | 69.21M | 36.1M | -2M | 2.17M |
| Effective Tax Rate % | 14.84% | 15.33% | 19.58% | 20.13% | 24.68% | 23.6% | 32.82% | 29.56% | -20.76% | 20.74% | 15.15% | 38.68% | 13.16% | 9.72% | -5.18% | 1.89% | 15.24% | 8.94% | -0.7% | 292.96% | -10.65% | -83.53% | -41.9% | -14.37% | 17.75% | 5.01% | 25.09% | 34.55% | 3.96% | -45.59% |
| Net Income | 959.74M | 847.07M | 428M | 244.4M | 180.1M | 103.9M | 60.6M | 70.3M | 98.9M | 105.5M | 138.3M | 66.9M | 108.2M | 118M | 117.7M | 192.3M | 101.2M | 55M | -720.5M | -13.7M | -150.6M | -46.8M | -854.1M | -266.7M | -455.4M | -39.8M | 206.68M | 68.4M | -48.5M | -6.92M |
| Net Margin % | 6.95% | 6.72% | 4.44% | 3.07% | 2.48% | 1.84% | 1.05% | 1.19% | 1.49% | 1.72% | 2.29% | 1.19% | 1.92% | 2.04% | 1.81% | 2.67% | 1.55% | 0.9% | -9.38% | -0.17% | -1.71% | -0.55% | -9.66% | -3.96% | -5.51% | -0.4% | 2.12% | 1.29% | -1.49% | -0.35% |
| Net Income Growth % | 135.29% | 97.91% | 75.12% | 35.7% | 73.34% | 71.45% | -13.8% | -28.92% | -6.26% | -23.72% | 106.73% | -38.17% | -8.31% | 0.25% | -38.79% | 90.02% | 84% | 107.63% | -5159.12% | 90.9% | -221.79% | 94.52% | -220.25% | 41.44% | -1044.22% | -119.26% | 202.16% | 241.03% | -601.05% | - |
| Net Income (Continuing) | 959.74M | 847.07M | 428M | 244.4M | 180.1M | 103.9M | 60.6M | 70.3M | 98.9M | 105.5M | 138.3M | 66.9M | 108.2M | 118M | 117.7M | 192.3M | 101.2M | 55M | -720.5M | -13.7M | -150.6M | -46.8M | -854.1M | -266.7M | -455.4M | -39.8M | 206.68M | 68.4M | -48.5M | -6.92M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 8.30 | 7.29 | 3.61 | 2.03 | 1.46 | 0.82 | 0.47 | 0.53 | 0.70 | 0.72 | 0.95 | 0.42 | 0.60 | 0.64 | 0.56 | 0.89 | 0.35 | 0.24 | -3.14 | -0.06 | -0.66 | -0.21 | -3.85 | -1.23 | -1.98 | -0.19 | 0.99 | 0.40 | -0.26 | -0.05 |
| EPS Growth % | 138.62% | 101.94% | 77.83% | 39.04% | 78.05% | 74.47% | -11.32% | -24.29% | -2.78% | -24.21% | 126.19% | -30% | -6.25% | 14.29% | -37.08% | 154.29% | 45.83% | 107.64% | -5142.07% | 90.92% | -214.29% | 94.55% | -213.01% | 37.88% | -942.11% | -119.19% | 147.5% | 253.85% | -396.18% | - |
| EPS (Basic) | - | 7.35 | 3.62 | 2.04 | 1.46 | 0.82 | 0.47 | 0.54 | 0.71 | 0.73 | 0.96 | 0.43 | 0.61 | 0.64 | 0.56 | 0.90 | 0.35 | 0.24 | -3.14 | -0.06 | -0.66 | -0.21 | -3.85 | -1.23 | -1.98 | -0.19 | 1.01 | 0.41 | -0.26 | -0.05 |
| Diluted Shares Outstanding | 115.7M | 116.2M | 118.7M | 120.3M | 123.6M | 126.7M | 129.1M | 131.8M | 140.6M | 145.2M | 143.9M | 157.9M | 180.4M | 185.4M | 210.5M | 218.3M | 230.1M | 230.9M | 229.3M | 228.9M | 227.2M | 226.2M | 222.1M | 216.83M | 229.8M | 213.9M | 217.91M | 178.43M | 183.02M | 132M |
| Basic Shares Outstanding | 114.9M | 115.3M | 118.1M | 120.1M | 123.5M | 126.7M | 129.1M | 131M | 139.4M | 143.1M | 141.8M | 155.8M | 178.4M | 183.4M | 208.6M | 216.3M | 227.8M | 229.5M | 229.3M | 228.9M | 227.2M | 226.2M | 222.1M | 216.83M | 229.8M | 213.9M | 199.79M | 167.19M | 183.02M | 132M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Hyperscaler customer concentration risk
As reported in recent financial statements, Celestica's revenue growth has surged to 52.8% in 2026Q1, marking a significant acceleration from the 4.8% growth observed in 2023Q4, primarily fueled by the rapid adoption of high-complexity 800G networking infrastructure within the Connectivity & Cloud Solutions segment.
The dramatic revenue expansion suggests that Celestica has successfully captured a critical position in the AI hardware supply chain. This trajectory appears to be less about broad-based volume and more about deep integration into specific, high-value hyperscaler product roadmaps.
Based on the provided income statement data, Celestica has maintained a gross margin profile consistently above 10%, peaking at 12.8% in 2025Q2, which indicates a superior pricing power compared to traditional EMS peers who typically struggle to sustain margins in the high single digits.
This margin resilience suggests that the company's pivot toward Joint Design Manufacturing is successfully insulating it from the commoditized pricing pressures inherent in standard assembly. Investors should monitor whether this margin floor remains stable as the company scales its high-complexity compute platform offerings.
According to the quarterly income statement, operating income has scaled from $118.6M in 2023Q4 to $272.1M in 2026Q1, demonstrating that management is effectively managing overhead costs even as the top-line revenue experiences rapid, non-linear growth across its primary business segments.
The ability to grow operating income at a rate that largely tracks revenue expansion suggests disciplined expense management. It appears that the company is avoiding the typical trap of bloated SG&A costs during periods of aggressive scaling, which warrants further investigation into long-term cost efficiency.
Based on reported figures, Celestica's net income has shown significant volatility, reaching $271.6M in 2025Q4, while stock-based compensation fluctuated between $0 and $30.5M, suggesting that reported EPS may be periodically impacted by non-cash adjustments that require careful reconciliation for true operational performance assessment.
The variability in stock-based compensation and non-operating items suggests that investors should focus on normalized earnings to gauge the underlying health of the business. The recent spike in net income appears to be supported by strong operational execution, yet the impact of periodic compensation charges warrants caution.
As indicated by the recent context flags, the increasing concentration of revenue within the top 10 customers creates a potential vulnerability, as the company's 52.8% revenue growth in 2026Q1 may be disproportionately reliant on the procurement cycles of a few massive hyperscale cloud service providers.
While the current growth trajectory is impressive, the reliance on a narrow customer base suggests that any shift in hyperscaler capital expenditure could lead to a rapid deceleration. This concentration risk may imply that the company's future performance is more sensitive to client-specific strategy changes than the broader market currently reflects.
Quick answers to the most common questions about buying CLS stock.
For fiscal year 2025, Celestica Inc. (CLS) reported total revenue of $12.61B. This represents a 528.9% increase compared to $2.00B in 1997.
Celestica Inc. (CLS) is profitable, generating $847.1M in net income for the fiscal year ending 2025 with a net profit margin of 6.7%.
Celestica Inc. (CLS) reported an operating income of $1.09B, resulting in an operating profit margin of 8.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Celestica Inc. (CLS) generated $1.47B in gross profit for the year, representing a gross profit margin of 11.7%. This demonstrates the company's core pricing power and production efficiency.