Plexus Corp.

PLXS

NASDAQ · Electronic Components & EMS

$192.17

At close - Nov 6, 4:00 PM EST - USD

Market Cap$5.14B

P/E25.9x

52W High$307.06

Volume253.84K

VCP Research Verdict2026Q4

Revenue Rebound Meets Thin Margins and Volatile Cash Conversion

Plexus revenue re-accelerated to roughly $1.4B in 2026Q4, up 34.8% year over year, suggesting renewed program ramps and operating leverage as operating margin rose from 4.7% to 6.0% sequentially.

GrowthAccelerating

ProfitabilityModerate

ValuationReview

TechnicalsWeak

Explore valuation models

MARKET ACTION

PLXS price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue reaccelerated to about $1.4B in 2026Q4 (up 34.8% YoY) with operating margin improving to 6.0%, yet gross margin remained locked near 10.2%, leaving little cushion against cost pressure.

Analyst Consensus+63.0% target

Buy(19 analysts)

11 Buy5 Hold3 Sell

The Bull Case

Upside Catalysts

Strong financial flexibility

Plexus Corp. has secured a revolving credit line of up to US$500 million, extendable to US$750 million, with a maturity date pushed to 2031, enhancing its financial stability and growth capacity.

Complex product expertise

Plexus specializes in designing, manufacturing, and servicing highly complex products in demanding regulatory environments, positioning it as a trusted partner for innovative solutions.

Positive fiscal performance

Plexus announced strong fiscal second quarter results for 2026 and provided guidance for the third quarter, indicating continued operational success and growth momentum.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

PLXS+26.24%

S&P 500 (^GSPC)+7.63%

1-Year Return

PLXS+33.92%

S&P 500 (^GSPC)+9.69%

3-Year Return

PLXS+93.31%

S&P 500 (^GSPC)+72.91%

5-Year Return

PLXS+106.12%

S&P 500 (^GSPC)+60.70%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/EMedian

25.9x

Forward P/EExpansion

22.1x

EV/EBITDA80th %ile

16.1x

FCF YieldCash Flow

N/A

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

25.9x

22.9x

60th· Fair

EV/EBITDA

16.1x

13.7x

80th· High

Price/FCF

N/A

25.7x

N/A

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$52.74-72.6%

Base (Fair)$103.15-46.3%

Bull$113.02-41.2%

$52.74 Bear$103.15 Base$113.02 Bull

Current Market Price: $192.17

Trades at a 86.3% premium to Base DCF ($103.15)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY26

$4.96B+23.1% YoY

Net income FY26

$202M+17.1% YoY

Free cash flow FY26

-$29M-118.8% YoY

Operating margin FY26

5.3%+0.3 pts YoY

ROIC (FY26)13.7%

Avg ROIC 5Y11.4%

ROE (TTM)13.3%

Piotroski Score5 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate11/12 (92%)

Revenue Beat Rate6/12 (50%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Oct 28, 2026	$2.84+11.4% vs $2.55	$1.4B+5.0% vs $1.4B
Q3 2026 Jul 29, 2026	$2.32+8.9% vs $2.13	$1.3B+6.1% vs $1.2B
Q2 2026 Apr 29, 2026	$2.05+9.6% vs $1.87	$1.2B+2.9% vs $1.1B
Q1 2026 Jan 28, 2026	$1.78+0.6% vs $1.77	$1.1B-0.2% vs $1.1B

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

Seeking Alpha·Oct 29, 2026

Plexus Corp. (PLXS) Q4 2026 Earnings Call Transcript

Plexus Corp. ( PLXS ) Q4 2026 Earnings Call October 29, 2026 8:30 AM EDT Company Participants Shawn Harrison - Vice President of Investor Relations Todd Kelsey - President, CEO & Director Oliver Mihm - Executive VP & COO David Abuhl - CFO & Senior VP Conference Call Participants John Patrick Malloy - Needham & Company, LLC, Research Division Steve Barger - KeyBanc Capital Markets Inc., Research Division Melissa Dailey Fairbanks - Raymond James & Associates, Inc., Research Division Anja Soderstrom - Sidoti & Company, LLC David Williams - Needham & Company, LLC, Research Division Presentation Operator Hello, everyone. Thank you for joining us, and welcome to the Plexus Fourth Quarter 2026 and Fiscal 2026 Earnings Conference Call.

Zacks Investment Research·Oct 28, 2026

Plexus (PLXS) Reports Q4 Earnings: What Key Metrics Have to Say

The headline numbers for Plexus (PLXS) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Zacks Investment Research·Oct 28, 2026

Plexus (PLXS) Q4 Earnings and Revenues Surpass Estimates

Plexus (PLXS) came out with quarterly earnings of $2.84 per share, beating the Zacks Consensus Estimate of $2.57 per share. This compares to earnings of $2.14 per share a year ago.

GlobeNewsWire·Oct 28, 2026

Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results

NEENAH, WI, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal fourth quarter and fiscal year ended October 3, 2026, and guidance for our fiscal first quarter ending January 2, 2027. Reports fiscal fourth quarter revenue of $1.427 billion, GAAP operating margin of 6.0% and GAAP diluted EPS of $2.51.

Filtered for Plexus Corp.More Headlines

Compare before deciding

Benchmark PLXS against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Plexus Corp. (PLXS)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
PLXSPlexus Corp.Current	$192.17	$5.14B	25.85	23.11%	4.08%	13.34%	—
JBLJabil Inc.	$239.09	$25.22B	24.32	20.64%	2.9%	73.9%	0.14%
CLSCelestica Inc.	$206.68	$23.76B	20.21	28.46%	6.83%	38.32%	—
BHEBenchmark Electronics, Inc.	$60.40	$2.17B	39.24	0.11%	1.9%	5.05%	1.11%
SANMSanmina Corporation	$134.68	$7.22B	24.10	7.4%	2.41%	11.66%	—
FLEXFlex Ltd.	$69.78	$25.57B	25.17	8.14%	3.35%	19.23%	—

Compare PLXS vs Peers

Plexus Corp. (PLXS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs JBL

Most directly comparable listed peer for PLXS.

Scale Benchmark

vs ROP

Larger-name benchmark to compare PLXS against a more recognizable public peer.

Peer Set

Compare Top 5

vs JBL, CLS, BHE, SANM

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

PLXS SEC Filings & Documents

Plexus Corp. (PLXS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Oct 28, 2026·SEC

Material company update

Jul 29, 2026·SEC

Material company update

Jun 8, 2026·SEC

10-K Annual Reports

FY 2025

Nov 14, 2025·SEC

FY 2024

Nov 15, 2024·SEC

10-Q Quarterly Reports

FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2026

Feb 5, 2026·SEC

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PLXS Frequently Asked Questions

Plexus Corp. (PLXS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Plexus Corp.'s revenue?

Plexus Corp. (PLXS) reported $4.96B in revenue in fiscal year 2026, which is also its trailing twelve months. That is 1185% more than the $386.4M of fiscal year 1997.

How fast is Plexus Corp. growing?

Plexus Corp. (PLXS) grew revenue by 23.1% over the trailing twelve months, compared with the twelve months before.

Is PLXS profitable?

Yes. Plexus Corp. (PLXS) earned $202.5M in net income over the trailing twelve months (a 4.1% net margin).

Dividend & Returns

What is PLXS's return on equity?

Plexus Corp. (PLXS) had a return on equity (ROE) of 13.3% over the trailing twelve months. That is in line with the market's typical 10-15%.

What is Plexus Corp.'s free cash flow?

Plexus Corp. (PLXS) had negative free cash flow of $28.9M over the trailing twelve months.

What if you invested $1,000 in PLXS back in 1997?

Total return calculator · dividends reinvested · 29+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Oct 28, 2026

$2.84+11.4%

vs $2.55

$1.4B+5.0%

vs $1.4B

Q3 2026

Jul 29, 2026

$2.32+8.9%

vs $2.13

$1.3B+6.1%

vs $1.2B

Q2 2026

Apr 29, 2026

$2.05+9.6%

vs $1.87

$1.2B+2.9%

vs $1.1B

Q1 2026

Jan 28, 2026

$1.78+0.6%

vs $1.77

$1.1B-0.2%

vs $1.1B

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

PLXSPlexus Corp.Current

$192.17

$5.14B

25.85

23.11%

4.08%

13.34%

—

JBLJabil Inc.

$239.09

$25.22B

24.32

20.64%

2.9%

73.9%

0.14%

CLSCelestica Inc.

$206.68

$23.76B

20.21

28.46%

6.83%

38.32%

—

BHEBenchmark Electronics, Inc.

$60.40

$2.17B

39.24

0.11%

1.9%

5.05%

1.11%

SANMSanmina Corporation

$134.68

$7.22B

24.10

7.4%

2.41%

11.66%

—

FLEXFlex Ltd.

$69.78

$25.57B

25.17

8.14%

3.35%

19.23%

—