Flex Ltd (FLEX) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Flex Ltd stock $50.74, price $77.24, that is 34.3% below the price, quality 63 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Our calculation puts a fair price 34% below what the stock costs today.
Quality 63/100
Healthy Growth(revenue YoY +8.1 %/yr in USD)
Generates free cash flow
Upbeat coverage
Last quarter vs. a year ago: revenue +21%, profit +52%.
Thin margins · 3.3% net margin (TTM)
Moderate debt
Mixed vs. peers(8/14)
Insiders sold $110.4M (6M)
Some data
Fair value $50.74 · Overvalued (−34.3%)
Narrow moat40/100
Risks from the AI analysis
🚩Price drop: Stock reaction to hyperscaler reliance and Axiom spin-off plans🚩Upcoming spin-off of AI segment into Axiom🚩Hyperscaler customer concentration🚩Acquisition debt tied to spin-off
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $10.66 – $162.07 · fair‑value band $31.98 – $73.63 · the $77.24 price screens above the $50.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Flex Ltd. provides technology innovation, supply chain, and manufacturing solutions to data center, communications, enterprise, consumer, automotive, industrial, healthcare, industrial, and power industries in the Americas, Asia, and Europe.
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The company operates through three segments: Integrated Technology Solutions (ITS), Regulated Manufacturing Solutions (RMS), and Cloud and Power Infrastructure (CPI). The ITS segment offers flexible supply and manufacturing solutions for communications, including high-speed networking, enterprise, and satellite communications systems, as well as lifestyle solutions comprising products across commercial, home, and personal product categories.
Its RMS segment includes industrial products, such as mission-critical automation, energy, and industrial infrastructure; automotive products, including compute and power electronics platforms and integrated systems; and healthcare products comprising regulated manufacturing for medical devices, drug delivery, and equipment.
The CPI segment provides cloud and cooling products, such as integrated compute systems supporting power-dense digital infrastructure deployments and advanced liquid cooling solutions supporting higher-density, power-intensive rack architectures; and power products that include utility- and facility-level electrical infrastructure enabling power delivery and high-density rack- and board-level power systems.
The company was formerly known as Flextronics International Ltd. and changed its name to Flex Ltd. in September 2016. Flex Ltd. was founded in 1969 and is headquartered in Austin, Texas.
Stock analysis
Flex Ltd (FLEX) currently trades at $77.24, while our model-based Fair Value estimate is $50.74, 34% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $57.93 per share, and 3 of the 24 models we run sit above the $77.24 price.
Bear case: the Asset-Based group reads lowest at $6.33, and 21 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $31.98 (bear) to $73.63 (bull), the price of $77.24 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Flex Ltd reported revenue of $27.9B in FY2026 versus $24.6B in FY2022, a compound +3.2%/yr. Reported net income was $880M in FY2026, compounding −1.5%/yr from FY2022.
Key figures
Market cap $28.5B Large · P/E ratio 27.8 · P/S ratio 0.98 · EPS (TTM) $2.78 · Net margin 3.3% · Return on equity 18.4% · Return on assets (EBIT) 5.4% · Operating margin 5.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (medium confidence).
What moves the price
The share trades about 52% below its 52-week high and 42% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −15% fair-value upside, at −34%, FLEX screens richer than that median.
Fair Value models
Bear$31.98Fair Value $50.74Bull$73.63
Price $77.24 · Downside -34.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($1.67 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 8 officers or directors sold shares worth $110.4M and none bought.
SaleMichael P HartungChief Commercial Officer5× since Nov 11, 2025: 78,070 shares, avg. $127.67$10.0MAug 18, 2026
SaleDavid Scott OfferEVP, General Counsel4× since May 11, 2026: 108,654 shares, avg. $147.79$16.1MJun 18, 2026
SaleRevathi AdvaithiChief Executive Officer, Director4× since May 11, 2026: 473,896 shares, avg. $142.20$67.4MJun 18, 2026
SaleDaniel WendlerChief Accounting Officer4× since Dec 11, 2025: 20,599 shares, avg. $109.18$2.2MJun 18, 2026
SaleKwang Hooi TanChief Operating Officer5× since Mar 9, 2026: 107,353 shares, avg. $129.02$13.9MJun 18, 2026
SaleKevin KrummChief Financial Officer2× since Jan 7, 2026: 24,784 shares, avg. $73.05$1.8MJun 15, 2026
SaleErin McSweeneyDirector3× since May 12, 2026: 7,500 shares, avg. $139.22$1.0MMay 22, 2026
SaleCharles K. Stevens IIIDirector15,000 shares at $138.14$2.1MMay 8, 2026
SaleMichael E. HurlstonDirector2× since Nov 20, 2025: 20,000 shares, avg. $57.09$1.1MNov 26, 2025
SaleWilliam D WatkinsDirector20,000 shares at $54.52$1.1MNov 21, 2025
Plus 32 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+20.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.8%
Dividend (yield on the price)0.0%
Per share before 2024divided by the spin-off factor 1.327
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.8% vs 14.8%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 5%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +17.0% a year for the price.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Low-margin EMS operations deliver average scale benefits in a replicable market yet face limited durable advantages and thin profitability.
Main risk: A small group of large hyperscale customers accounting for around 45 percent of sales could exert pricing pressure or cause demand swings that hit revenue and margins in the Cloud and Power Infrastructure segment.
Bull case: By integrating EPC Power's capabilities into modular AI data center solutions Flex could deepen ties with hyperscalers and offset concentration risks through broader offerings and faster deployment.
Bear case: If hyperscaler demand softens or the Axiom spin-off encounters delays the remaining operations could face sustained pricing pressure from concentrated customers while the debt load limits investment flexibility.
Flex delivered strong Q2 results with AI demand lifting Cloud and Power Infrastructure revenues and margins, yet the stock fell as investors weighed heavy reliance on a handful of hyperscalers alongside the upcoming spin-off of that segment into Axiom. Elevated capex, separation costs and potential order volatility add friction to the growth story. Our models currently see the shares as overvalued. Will the focused Axiom entity capture more value from AI infrastructure than the remaining business loses in scale and diversification?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Components · 652 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−34.3% · Below median
Profitability
Return on equity (12 months)18.4% · Top 25%
Return on assets4.0% · Above median
Net margin (12 months)3.3% · Below median
Operating margin (12 months)5.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)20.6% · Above median
Balance sheet
Debt / equity0.73× · Highest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)27.8× · Cheaper than median
P/B5.55× · Priciest 25%
P/S (12 months)0.98× · Cheaper than median
Price / free cash flow27.1× · Cheaper than median
EV/EBITDA14.1× · Cheaper than median
PEG0.94× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 69
PAST (return on equity)74· sector 28
HEALTH (low debt)64· sector 95
DIVIDEND (yield)0· sector 26
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Flex Ltd Fair Value". https://www.fairvalue-calculator.com/stock/FLEX
Frequently asked questions
Is Flex Ltd (FLEX) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $50.74 versus a price of $77.24, about 34% lower (overvalued).
What is the fair value of FLEX?
Our model-based fair value for Flex Ltd is $50.74 (as of Nov 5, 2026), built from audited fundamentals. The current price: $77.24.
What is the quality score of FLEX?
Flex Ltd has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Flex Ltd (FLEX)?
Our model-based price target is the fair value of $50.74 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario $31.98, optimistic scenario $73.63. It is a calculation from audited fundamentals, not an analyst target.
What is the Flex Ltd stock forecast for 2026?
Our models put fair value at $50.74, about 34% lower versus a price of $77.24 (overvalued). Cautious scenario $31.98, optimistic scenario $73.63. The calculation is refreshed regularly with new filings.
What is the revenue of Flex Ltd (FLEX)?
Flex Ltd reported trailing-twelve-month revenue of about $29.3B (latest available figure, as of Nov 5, 2026).
What growth is priced into Flex Ltd (FLEX)?
For today's price to be fair in a discounted-cash-flow model, Flex Ltd would have to grow free cash flow by +19.8 % per year for five years (discount rate 10.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of FLEX use?
Our models discount Flex Ltd at 10.8 %: a base by market capitalisation (large), damped by beta 1.66, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Flex Ltd that is +19.8 % per year a year over ten years, using the same discount rate (10.8 %) and the same formula as our fair value.
How much growth has Flex Ltd (FLEX) delivered so far?
Over the past 5 years revenue at Flex Ltd grew +3.0 % a year. The price currently implies +19.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Flex Ltd (FLEX) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Flex Ltd (+19.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Flex Ltd (FLEX)?
The free-cash-flow yield on the price is 3.64 %: that much free cash flow Flex Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Flex Ltd (FLEX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flex Ltd it is $50.74 per share (as of Nov 5, 2026), against a price of $77.24. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Flex Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, FLEX trades above its calculated fair value: price $77.24, fair value $50.74, a gap of about −34% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FLEX?
No. The price is what the market pays today ($77.24); the fair value is what the company's own numbers justify ($50.74). For Flex Ltd the two are $26.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flex Ltd worth?
The market values Flex Ltd at about $28.5B (market capitalisation, as of Nov 5, 2026). Per share that is $77.24; our models calculate a fair value of $50.74 per share.
What do the bullish and bearish scenarios say about FLEX?
Our models span a range for Flex Ltd: cautious scenario $31.98, base $50.74, optimistic $73.63 per share (as of Nov 5, 2026, price $77.24). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLEX?
Flex Ltd trades at a price-to-earnings ratio of 27.8 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $50.74 is built from several models across several years. Other multiples: PEG 0.9, P/B 5.6, P/S 1.0, EV/EBITDA 14.1.
What is the PEG ratio of FLEX?
The PEG ratio of Flex Ltd is 0.94 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Flex Ltd (FLEX)?
Balance-sheet figures for Flex Ltd (as of Nov 5, 2026): return on equity 18.4%, debt of 0.73 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is FLEX from its 52-week high?
Flex Ltd trades at $77.24, about 52% below its 52-week high of $162.07 and 42% above the low of $54.51 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $50.74 is for.
Which stocks are comparable to Flex Ltd?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Flex Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price $77.24, calculated fair value $50.74 (−34%), Quality Score 63/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FLEX calculated?
We run Flex Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $50.74, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Flex Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Flex Ltd (FLEX)?
The closing price on Nov 4, 2026 was $77.24. Our model-based fair value is $50.74, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flex Ltd right now?
The price sits above even our optimistic bull case ($73.63). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($31.98 to $73.63) leaves room in how you read the outcome.
Where does the earnings growth of Flex Ltd (FLEX) come from?
Earnings per share at Flex Ltd grew +12.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.7 %, EBIT margin +7.2 %, tax rate +0.1 %, residual (interest, one-offs) −0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Flex Ltd
How large is the market capitalisation of Flex Ltd (FLEX)?
The market capitalisation of Flex Ltd is $28.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Flex Ltd (FLEX)?
The price-to-sales ratio of Flex Ltd is 0.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Flex Ltd (FLEX)?
Earnings per share at Flex Ltd are $2.78 (price ÷ EPS = P/E 27.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Flex Ltd (FLEX)?
The net margin of Flex Ltd is 3.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Flex Ltd (FLEX)?
The return on equity (ROE) of Flex Ltd is 18.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Flex Ltd (FLEX)?
On an EBIT basis the return on assets of Flex Ltd is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Flex Ltd (FLEX)?
The operating margin of Flex Ltd is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Flex Ltd (FLEX)?
Revenue at Flex Ltd is growing +20.6% versus a year earlier (3y avg −0.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Flex Ltd (FLEX)?
Earnings per share at Flex Ltd are growing +52.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Flex Ltd (FLEX) hold?
Flex Ltd holds more cash than debt, $1.8B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Some data
Nov 5, 2026