FLEX FY 2016 Earnings Report — Flex Ltd. Revenue & Financial Results | Market Cap Arena

FY 2016 Earnings

Reported May 20, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$24.4B	—	$26.1B	—	-6.6%
Op. Income	$587M	—	$669M	—	-12.2%
Gross Margin	6.6%	—	5.9%	—	0.7pp
Net Margin	1.8%	—	2.3%	—	-0.5pp
EPS (Diluted)	$0.79	—	$1.02	—	-22.5%
Free Cash Flow	$626M	—	$447M	—	40.1%

Revenue Flow

Item	Amount
REVENUE	$24.4B
Cost of Revenue	$22.8B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$955M
Other Expenses	$66M
Operating Expenses	$1.0B
Cost & Expenses	$23.8B
OPERATING INCOME	$587M
Interest Income	$12M
Interest Expense	$98M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$455M
Income Tax Expense	$11M
Net Income from Continuing Ops	$444M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$444M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$444M
D&A	$515M
EBIT	$539M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$24.4B
Cost of Revenue	$22.8B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$955M
Other Expenses	$66M
Operating Expenses	$1.0B
Cost & Expenses	$23.8B
OPERATING INCOME	$587M
Interest Income	$12M
Interest Expense	$98M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$455M
Income Tax Expense	$11M
Net Income from Continuing Ops	$444M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$444M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$444M
D&A	$515M
EBIT	$539M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$444M
Depreciation & Amortization	$515M
Stock-Based Compensation	$78M
Deferred Income Tax	-$64M
Other Non-Cash Items	$97M
Change in Working Capital	$67M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$511M
Acquisitions (Net)	-$911M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$25M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$694M
Common Stock Repurchased	-$420M
Common Dividends Paid	$0
Other Financing Activities	-$25M
NET CASH FROM FINANCING	$250M
FREE CASH FLOW	$626M
Net Change in Cash	-$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$2.0B
Inventory	$3.5B
Other Current Assets	$1.2B
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$2.3B
Goodwill	$942M
Intangible Assets	$404M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$466M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$12.4B
Account Payables	$4.2B
Short-Term Debt	$65M
Deferred Revenue	$0
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$6.6B
Long-Term Debt	$2.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$498M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$9.8B
Common Stock	$7.0B
Additional Paid-In Capital	$0
Retained Earnings	-$3.9B
Treasury Stock	-$388M
Accum. Other Comp. Income	-$136M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$35M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$12.4B
Total Debt	$2.8B
Net Debt	$1.2B