FLEXFLEX LTD.
Printed Circuit Boards
- Revenue
- $27.9B
- 8.1% YoY
- Operating margin
- 4.9%
- 8.2% YoY
- EBITDA
- $1.8B
- 13% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 0.2×
- $327M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear191% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear56% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear7% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $24.6B | $28.5B | $26.4B | $25.8B | $27.9B | 8.1% |
| Operating income | $890M | $1.0B | $853M | $1.2B | $1.4B | 17% |
| Net income | $936M | $793M | $872M | $838M | $880M | 5.0% |
| Operating cash flow | $1.0B | $950M | $1.3B | $1.5B | $1.7B | 12% |
| Capex | $443M | $635M | $530M | $438M | $633M | 45% |
| Stock-based comp | $91M | $133M | $152M | $125M | $142M | 14% |
| Buybacks | $686M | $337M | $1.3B | $1.3B | $944M | 25% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Oct 5, 2026 | 8-K | Mentions General Catalyst | — | — |
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $44M | $169M | 491 | 718 |
| FY2025 | $16M | $27M | 248 | 299 |
| FY2024 | $15M | $48M | 215 | 248 |
| FY2023 | $16M | $30M | 126 | 156 |
| FY2022 | $14M | $17M | 101 | 113 |