Last 47 quarters of trend data · Technology · Hardware, Equipment & Parts
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Flex Ltd.'s quarterly P/E stands at 23.6x, up 64.8% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 88.3% YoY to 16.7x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 73.84 | 23.60 | 27.33 | 24.95 | 14.51 | 14.32 | 15.54 | 21.68 | 7.69 | 12.31 | 13.23 | 16.85 | 18.56 |
| — | +64.8% | +75.9% | +15.0% | +88.6% | +16.4% | +17.5% | +28.7% | -58.6% | +14.7% | +58.8% | +89.2% | +44.1% | |
| P/S Ratio | 2.22 | 0.80 | 0.79 | 0.72 | 0.50 | 0.58 | 0.51 | 0.48 | 0.67 | 0.38 | 0.44 | 0.46 | 0.35 |
| — | +39.5% | +54.8% | +50.6% | -25.5% | +53.3% | +17.6% | +5.2% | +91.1% | +18.5% | +76.7% | +101.0% | +10.8% | |
| P/B Ratio | 12.40 | 4.44 | 4.29 | 3.74 | 2.57 | 3.03 | 2.68 | 2.43 | 2.28 | 1.50 | 1.90 | 2.17 | 1.85 |
| — | +46.4% | +59.9% | +54.0% | +12.7% | +102.1% | +41.1% | +11.6% | +23.4% | -30.0% | +6.0% | +36.1% | -10.9% | |
| P/FCF | 53.69 | 20.88 | 17.82 | 17.86 | 10.02 | 12.56 | 15.54 | 13.23 | 5.08 | 15.68 | 14.74 | — | 9.78 |
| — | +66.2% | +14.7% | +35.0% | +97.2% | -19.9% | +5.4% | — | -48.0% | +27.4% | — | — | +11.9% | |
| EV / EBITDA | 34.63 | 16.71 | 13.08 | 11.61 | 8.31 | 8.87 | 8.77 | 9.44 | — | 8.26 | 8.02 | 10.08 | 7.32 |
| — | +88.3% | +49.2% | +23.0% | — | +7.5% | +9.2% | -6.3% | — | +24.6% | +48.2% | +85.2% | -1.5% | |
| EV / EBIT | 50.60 | 16.71 | 18.83 | 17.70 | 11.12 | 12.29 | 11.84 | 13.66 | — | 13.41 | 11.61 | 15.94 | 10.28 |
| — | +35.9% | +59.1% | +29.6% | — | -8.3% | +1.9% | -14.3% | — | +47.3% | +55.1% | +103.5% | -11.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Flex Ltd.'s operating margin was 5.7% in Q3 2026, up 1.3 pp QoQ and up 0.6 pp YoY. Gross margin expanded 7.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.4% | 9.7% | 9.0% | 8.7% | 8.8% | 9.1% | 8.1% | 7.5% | -0.6% | 6.7% | 7.5% | 6.9% | 7.4% |
| — | +7.1% | +11.2% | +16.6% | +1467.0% | +34.4% | +8.4% | +8.0% | -108.7% | -10.3% | -1.6% | -5.2% | +1.1% | |
| Operating Margin | 4.5% | 5.7% | 4.4% | 4.7% | 4.8% | 5.1% | 4.5% | 3.7% | -3.6% | 3.1% | 4.1% | 3.1% | 3.6% |
| — | +11.2% | -4.1% | +28.2% | +232.6% | +65.2% | +12.0% | +18.3% | -201.1% | -25.5% | -3.1% | -15.7% | +7.4% | |
| Net Margin | 3.2% | 3.4% | 2.9% | 2.9% | 3.5% | 4.0% | 3.3% | 2.2% | 8.8% | 3.1% | 3.3% | 2.7% | 1.9% |
| — | -15.6% | -10.5% | +32.6% | -60.4% | +30.8% | -0.6% | -18.4% | +361.7% | +3.5% | +10.1% | +4.9% | -22.1% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.2% | 4.7% | 3.9% | 3.8% | 4.4% | 5.3% | 4.3% | 2.7% | 6.7% | 3.1% | 3.8% | 3.2% | 2.8% |
| — | -10.6% | -8.2% | +41.3% | -33.8% | +71.0% | +14.0% | -16.8% | +143.6% | -40.6% | -31.6% | -28.2% | -35.1% | |
| ROA | 4.6% | 1.2% | 1.0% | 1.0% | 1.2% | 1.4% | 1.2% | 0.8% | 2.0% | 1.0% | 1.1% | 0.9% | 0.7% |
| — | -17.0% | -12.7% | +32.5% | -40.8% | +49.7% | +8.3% | -12.1% | +204.6% | -14.0% | -4.6% | -8.5% | -24.6% | |
| ROIC | 13.0% | 4.1% | 3.1% | 3.3% | 3.3% | 3.7% | 3.4% | 2.7% | -1.7% | 2.0% | 2.9% | 2.3% | 3.0% |
| — | +9.0% | -8.6% | +24.5% | +295.5% | +88.3% | +18.5% | +16.2% | -156.9% | -47.0% | -26.4% | -31.5% | +6.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Flex Ltd.'s Debt/EBITDA ratio is 14.8x, up from 9.5x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 1.09 | 0.85 | 0.84 | 0.83 | 0.83 | 0.84 | 0.74 | 0.70 | 0.61 | 0.62 | 0.71 | 0.74 |
| — | +31.4% | +1.9% | +13.8% | +17.7% | +36.3% | +36.0% | +3.7% | -4.3% | -37.8% | -41.5% | -35.5% | -34.8% | |
| Debt / EBITDA | 2.43 | 14.82 | 9.50 | 9.41 | 9.36 | 8.69 | 9.78 | 10.25 | — | 12.00 | 9.58 | 11.81 | 10.60 |
| — | +70.5% | -2.9% | -8.1% | — | -27.6% | +2.1% | -13.2% | — | +18.3% | -4.4% | +1.8% | -21.0% | |
| Current Ratio | 1.30 | 1.40 | 1.33 | 1.36 | 1.30 | 1.41 | 1.43 | 1.40 | 1.52 | 1.59 | 1.53 | 1.46 | 1.48 |
| — | -1.1% | -7.0% | -3.0% | -14.3% | -10.9% | -6.2% | -4.2% | +3.1% | +16.9% | +18.9% | +11.8% | +10.2% | |
| Quick Ratio | 0.79 | 0.88 | 0.83 | 0.83 | 0.79 | 0.83 | 0.85 | 0.75 | 0.79 | 0.86 | 0.82 | 0.75 | 0.80 |
| — | +6.8% | -2.5% | +11.3% | -0.8% | -3.6% | +3.2% | -0.7% | -0.1% | +25.6% | +26.2% | +10.5% | +9.8% | |
| Interest Coverage | 5.69 | 6.52 | 6.04 | 6.60 | 6.37 | 6.90 | 6.89 | 5.77 | -3.13 | 5.18 | 7.42 | 5.00 | 4.48 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying FLEX stock.
Flex Ltd.'s current P/E is 73.8x. The average P/E over the last 4 quarters is 22.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Flex Ltd.'s current operating margin is 4.5%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Flex Ltd.'s business trajectory between earnings reports.