Flex Ltd. stock research
FY2026 Q2
Flex (FLEX) Gross Margin — Quarter Ended Sep 26, 2025
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit grew at a faster pace than cost of revenue, leading to an improvement in gross margin.
Gross margin takeaway
Quarter ended Sep 26, 2025 · FY2026 Q2
Revenue increased compared to both the prior quarter and the same quarter last year. Gross profit grew at a faster pace than cost of revenue, leading to an improvement in gross margin.
- Gross margin improved both sequentially and year-over-year, reflecting a stronger contribution from gross profit relative to revenue.
- Compared with the immediate preceding quarter, gross margin was higher. Year-over-year, gross margin also improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
9.0%
Gross profit
$614.0M
Revenue
$6.8B
Cost of revenue
$6.2B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
+0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 27, 2024 | $6.5B | $531.0M | $6.0B | 8.1% |
| Dec 31, 2024 | $6.6B | $594.0M | $6.0B | 9.1% |
| Jun 27, 2025 | $6.6B | $572.0M | $6.0B | 8.7% |
| Sep 26, 2025 | $6.8B | $614.0M | $6.2B | 9.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 27, 2025
+0.3 pts
Year-over-year change
Sep 27, 2024
+0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin improved both sequentially and year-over-year, reflecting a stronger contribution from gross profit relative to revenue.
Compared with the immediate preceding quarter, gross margin was higher. Year-over-year, gross margin also improved.
Monitor the financial impact of asset impairments and inventory write-downs related to the Ukraine facility, as disclosed in the filing.