Flex (FLEX) 10-K Summary — Year Ended Mar 31, 2026
Flex Ltd. reported annual financial results with revenue growth and positive operating income. The company announced a plan to spin off its Cloud and Power Infrastructure segment into an independent publicly traded company, expected to complete in the first quarter of calendar 2027.
Key takeaway
Year ended Mar 31, 2026 · FY2026 10-K
Flex Ltd. reported annual financial results with revenue growth and positive operating income. The company announced a plan to spin off its Cloud and Power Infrastructure segment into an independent publicly traded company, expected to complete in the first quarter of calendar 2027.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$27.9B
Revenue reported for the fiscal year.
Operating income
$1.4B
Income from operations reported for the year.
Net income
$880M
Net income reported for the year.
Operating cash flow
$1.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 27, 2024 | $6.5B | +3.7% |
| Dec 31, 2024 | $6.6B | +0.2% |
| Mar 31, 2025 | $25.8B | +293.7% |
| Mar 31, 2026 | $27.9B | +8.1% |
Business overview
Flex Ltd. provides advanced manufacturing and supply chain solutions through its Integrated Technology Solutions (ITS) and Reliability Management Solutions (RMS) segments. The company intends to separate its Cloud and Power Infrastructure (CPI) segment into a standalone publicly traded company, after which Flex will continue as a pure-play advanced manufacturing and supply chain business.
Financial performance
Revenue increased compared to the prior year, while operating income and net income were both positive. Cash generated from operations exceeded net income, indicating strong cash flow generation.
Material risks
The planned spin-off of the Cloud and Power Infrastructure segment is subject to board and shareholder approvals, regulatory clearance, and other conditions, and there is no assurance that it will be completed or on the expected timeline. No other material risks were detailed in the supplied filing context.
Liquidity and capital
The company is prioritizing the separation of its CPI segment through a spin-off, after which it intends to focus on its core manufacturing and supply chain operations. No other capital allocation themes such as dividends or share repurchases were mentioned in the supplied context.
What to watch
Monitor the progress of the CPI segment spin-off, including regulatory approvals and shareholder votes, as its completion or delay could significantly affect the company's structure and strategy.