Latest Ratios: P/E Ratio 25.9x · EV/EBITDA 16.1x · ROE 13.4%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.1B | $7.5B | $4.0B | $3.8B | $2.6B | $2.5B | $2.7B | $2.1B | $1.9B | $2.0B | $1.9B |
| Enterprise Value | $5.1B | $7.5B | $3.8B | $3.7B | $2.8B | $2.7B | $2.7B | $2.1B | $2.0B | $1.9B | $1.7B |
| P/E Ratio → | 25.85 | 36.86 | 22.89 | 34.02 | 18.78 | 18.02 | 19.13 | 18.05 | 17.86 | 153.97 | 17.31 |
| P/S Ratio | 1.04 | 1.50 | 0.98 | 0.96 | 0.62 | 0.65 | 0.79 | 0.63 | 0.61 | 0.69 | 0.77 |
| P/B Ratio | 3.34 | 4.74 | 2.72 | 2.87 | 2.15 | 2.27 | 2.58 | 2.17 | 2.24 | 2.15 | 1.89 |
| P/FCF | — | — | 25.70 | 11.16 | 42.32 | — | 31.08 | 13.24 | 78.64 | 489.90 | 14.55 |
| P/OCF | 75.39 | 109.44 | 15.88 | 8.72 | 15.76 | — | 18.63 | 10.09 | 16.85 | 29.70 | 11.28 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.50 | 0.95 | 0.94 | 0.67 | 0.71 | 0.79 | 0.62 | 0.63 | 0.65 | 0.67 |
| EV / EBITDA | 16.06 | 21.91 | 13.65 | 15.24 | 10.65 | 11.25 | 11.28 | 10.04 | 10.33 | 11.26 | 9.60 |
| EV / EBIT | 19.50 | 28.30 | 19.16 | 23.62 | 14.68 | 15.56 | 15.33 | 13.91 | 14.46 | 15.65 | 12.42 |
| EV / FCF | — | — | 24.84 | 10.96 | 45.77 | — | 31.33 | 13.15 | 81.24 | 463.08 | 12.63 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.1% | 10.1% | 10.1% | 9.6% | 9.4% | 9.1% | 9.6% | 9.2% | 9.2% | 9.0% | 10.1% |
| Operating Margin | 5.3% | 5.3% | 5.0% | 4.2% | 4.7% | 4.7% | 5.2% | 4.5% | 4.5% | 4.1% | 5.1% |
| Net Profit Margin | 4.1% | 4.1% | 4.3% | 2.8% | 3.3% | 3.6% | 4.1% | 3.5% | 3.4% | 0.5% | 4.4% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.4% | 13.4% | 12.4% | 8.8% | 12.0% | 13.0% | 13.9% | 12.7% | 12.2% | 1.3% | 11.5% |
| ROA | 5.7% | 5.7% | 5.5% | 3.5% | 4.1% | 4.7% | 5.8% | 5.5% | 5.5% | 0.7% | 6.0% |
| ROIC | 13.7% | 13.7% | 11.8% | 9.4% | 10.7% | 11.3% | 13.1% | 12.2% | 12.2% | 11.2% | 12.8% |
| ROCE | 15.8% | 15.8% | 12.9% | 11.1% | 13.5% | 13.1% | 13.5% | 12.7% | 12.2% | 10.5% | 11.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.12 | 0.21 | 0.39 | 0.45 | 0.28 | 0.38 | 0.33 | 0.20 | 0.31 |
| Debt / EBITDA | 0.83 | 0.83 | 0.63 | 1.14 | 1.77 | 2.06 | 1.23 | 1.77 | 1.48 | 1.13 | 1.79 |
| Net Debt / Equity | — | 0.00 | -0.09 | -0.05 | 0.18 | 0.20 | 0.02 | -0.01 | 0.07 | -0.12 | -0.25 |
| Net Debt / EBITDA | 0.01 | 0.01 | -0.47 | -0.27 | 0.80 | 0.92 | 0.09 | -0.07 | 0.33 | -0.65 | -1.46 |
| Debt / FCF | — | — | -0.85 | -0.19 | 3.45 | — | 0.25 | -0.09 | 2.60 | -26.82 | -1.92 |
| Interest Coverage | 17.19 | 17.19 | 17.20 | 5.49 | 6.10 | 10.98 | 12.25 | 9.38 | 10.80 | 9.80 | 9.97 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.43 | 1.43 | 1.58 | 1.51 | 1.47 | 1.40 | 1.71 | 1.77 | 1.78 | 2.06 | 1.78 |
| Quick Ratio | 0.67 | 0.67 | 0.77 | 0.71 | 0.61 | 0.60 | 0.85 | 1.01 | 0.97 | 0.98 | 1.06 |
| Cash Ratio | 0.13 | 0.13 | 0.20 | 0.21 | 0.14 | 0.14 | 0.24 | 0.38 | 0.26 | 0.40 | 0.63 |
| Asset Turnover | — | 1.26 | 1.29 | 1.26 | 1.27 | 1.12 | 1.37 | 1.48 | 1.58 | 1.49 | 1.28 |
| Inventory Turnover | 2.66 | 2.66 | 2.95 | 2.73 | 2.44 | 2.16 | 3.13 | 4.03 | 4.10 | 3.29 | 3.47 |
| Days Sales Outstanding | — | 69.03 | 73.06 | 68.46 | 69.69 | 83.91 | 68.80 | 64.17 | 66.80 | 50.15 | 52.77 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 2.7% | 4.4% | 2.9% | 5.3% | 5.6% | 5.2% | 5.5% | 5.6% | 0.6% | 5.8% |
| FCF Yield | — | — | 3.9% | 9.0% | 2.4% | — | 3.2% | 7.6% | 1.3% | 0.2% | 6.9% |
| Buyback Yield | 1.7% | 1.1% | 1.7% | 1.5% | 1.6% | 2.0% | 4.1% | 2.0% | 9.4% | 6.9% | 1.8% |
| Total Shareholder Yield | 1.7% | 1.1% | 1.7% | 1.5% | 1.6% | 2.0% | 4.1% | 2.0% | 9.4% | 6.9% | 1.8% |
| Shares Outstanding | — | $27M | $28M | $28M | $28M | $28M | $29M | $30M | $31M | $34M | $35M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying PLXS stock.
Plexus Corp.'s current P/E ratio is 25.9x. The historical average is 29.4x. This places it at the 69th percentile of its historical range.
Plexus Corp.'s current EV/EBITDA is 16.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.1x.
Plexus Corp.'s return on equity (ROE) is 13.4%. The historical average is 11.2%.
Based on historical data, Plexus Corp. is trading at a P/E of 25.9x. This is at the 69th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Plexus Corp. has 10.1% gross margin and 5.3% operating margin.
Plexus Corp.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Thin margins and working capital volatility
Metrics are mathematically derived from official filings.
Premium Multiples Pricing In Re-Acceleration
Based on Plexus's reported figures, the trailing P/E of 29.99 and EV/EBITDA of 17.46 sit above the Benchmark and Sanmina levels, implying the market is paying for the recent revenue re-acceleration to persist.
The forward P/E of 21.60 compresses meaningfully from the trailing figure, which suggests consensus expects earnings to recover from the latest EPS shortfall. The PEG of 3.07 indicates the premium is not supported by current growth expectations alone, so the multiple appears to rely on a sustained step-up in program volume. Investors should monitor whether raised guidance translates into durable operating margin gains before accepting the current valuation as fair.
Thin Margins Limit Earnings Cushion
As reported in financial statements, gross margin has held in a narrow 9.8% to 10.3% band over ten quarters while operating margin reached 6.0% in 2026Q4, leaving little buffer against component cost shocks.
The stability of gross margin near ten percent reflects a contract-manufacturing model with limited pricing power, so improvement must come from operating leverage rather than pricing. The jump in operating margin from 4.7% to 6.0% in the latest quarter is encouraging but rests on a single period of cost absorption. Net margin of 4.8% is considerably higher than the 2.6% to 4.4% range seen across recent quarters, which warrants checking whether below-the-line items contributed to the gain.
ROIC Recovering From Compressed Base
Based on Plexus's reported figures, ROIC climbed from 2.1% in 2024Q3 to 4.2% in 2026Q4, a meaningful recovery though still modest relative to the 34.0% reported by Celestica.
The upward trajectory in ROIC suggests returns are compounding off a low base, driven primarily by margin expansion rather than capital efficiency. Asset turnover has been steady near 0.3 to 0.4 times, indicating the capital base is not becoming more productive on its own. ROE of 4.4% remains low for a business carrying the equity build seen on the balance sheet, which may reflect substantial retained capital sitting idle.
Current Ratio Drifts Lower Under Working Capital Build
According to recent SEC filings, Plexus's current ratio declined from 1.59 to 1.43 over the last four quarters while quick ratio held near 0.67, suggesting current liabilities are rising faster than liquid assets.
The gap between current and quick ratio reflects heavy dependence on inventory, with DIO at 112 days in the latest quarter. Under a severe stress scenario, a quick ratio below 0.7 would leave the company reliant on inventory conversion to meet obligations. Investors should monitor whether the declining current ratio reflects normalization or a structural build in payables and accrued liabilities.
Peer Multiples Mask Structural Margin Gap
Based on the supplied peer data, Plexus trades at a P/E of 29.99 against Celestica's 28.21 and Flex's 28.64, yet its ROE of 4.4% lags Celestica's 38.4% and Jabil's 73.9%, which may indicate the premium is not earned on returns.
Comparing valuation to return metrics suggests the multiple is more consistent with a growth or recovery thesis than with current profitability. Benchmark's P/E of 87.26 reflects depressed earnings rather than a peer benchmark worth emulating, so relative valuation is less informative than it appears. Investors should weigh the PEG of 3.07 and sub-5% net margins as the more relevant constraints on whether the current multiple is defensible.