FN

MKT CAP:$26B

Fabrinet

Market Cap

$26B

Technology·Hardware, Equipment & Parts·🇰🇾 Cayman Islands·NYSE

Technology·Hardware,·🇰🇾·NYSE

Stock Price

$704.00+$224.58 (+46.84%)

Apr 23, 2026

Company Details

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capab...

CEO

Seamus Grady

IPO Date

Jun 25, 2010

Website

www.fabrinet.com

Key Metrics TTM

Revenue

$3.7B

+24.9% YoY

Net Income

$368M

EPS (Diluted)

$10.15

Free Cash Flow

$138M

Revenue / Share

$103.61

Gross Margin

12.1%

Operating Margin

9.7%

Net Margin

9.8%

FCF Margin

3.7%

P/S

6.9x

P/E

70.7x

Earnings Reports

Q3 2026

May 4, 2026

PENDING

Q2 2026

Feb 3, 2026

$1.1B+35.9%EPS $3.11

FY 2025

Aug 19, 2025

$3.4B+18.6%EPS $9.17

Q4 2025

Aug 19, 2025

$910M+20.8%EPS $2.42

Q3 2025

May 6, 2025

$872M+19.2%EPS $2.24

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$567M	$69M	$51M
Q3 22	$564M	$71M	$54M
Q4 22	$588M	$75M	$56M
Q1 23	$655M	$83M	$62M
Q2 23	$669M	$85M	$66M
Q3 23	$665M	$86M	$62M
Q4 23	$656M	$82M	$61M
Q1 24	$685M	$84M	$64M
Q2 24	$713M	$88M	$69M
Q3 24	$732M	$91M	$71M
Q4 24	$753M	$92M	$73M
Q1 25	$804M	$99M	$77M
Q2 25	$834M	$101M	$80M
Q3 25	$872M	$102M	$79M
Q4 25	$910M	$111M	$89M
Q2 26	$1.1B	$138M	$114M

Valuation

Quarter	P/S	P/E
Q2 22	12.4x	149.9x
Q3 22	11.9x	139.3x
Q4 22	11.5x	129.7x
Q1 23	10.9x	118.0x
Q2 23	10.5x	110.8x
Q3 23	10.1x	106.8x
Q4 23	9.8x	104.8x
Q1 24	9.7x	104.6x
Q2 24	9.6x	102.2x
Q3 24	9.3x	94.2x
Q4 24	9.0x	87.8x
Q1 25	8.7x	84.3x
Q2 25	8.3x	79.7x
Q3 25	8.0x	79.6x
Q4 25	7.6x	78.2x
Q2 26	6.9x	70.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$19M	$1M
Q3 22	$50M	$27M
Q4 22	$16M	$2M
Q1 23	$61M	$50M
Q2 23	$44M	$31M
Q3 23	$37M	$17M
Q4 23	$71M	$53M
Q1 24	$145M	$133M
Q2 24	$84M	$74M
Q3 24	$101M	$87M
Q4 24	$83M	$70M
Q1 25	$83M	$63M
Q2 25	$116M	$94M
Q3 25	$74M	$45M
Q4 25	$55M	$4M
Q2 26	$46M	-$5M

Capital Expenditures

Quarter	CapEx
Q2 22	$17M
Q3 22	$24M
Q4 22	$15M
Q1 23	$10M
Q2 23	$14M
Q3 23	$20M
Q4 23	$18M
Q1 24	$12M
Q2 24	$10M
Q3 24	$14M
Q4 24	$13M
Q1 25	$20M
Q2 25	$22M
Q3 25	$29M
Q4 25	$51M
Q2 26	$52M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+24.9%	+23.3%
Q3 22	+17.7%	+15.6%
Q4 22	+15.4%	+14.1%
Q1 23	+20.6%	+18.6%
Q2 23	+18.0%	+16.9%
Q3 23	+17.9%	+18.2%
Q4 23	+11.6%	+11.9%
Q1 24	+4.6%	+4.8%
Q2 24	+6.6%	+6.9%
Q3 24	+10.0%	+9.4%
Q4 24	+14.8%	+14.4%
Q1 25	+17.3%	+17.0%
Q2 25	+17.0%	+17.1%
Q3 25	+19.2%	+20.1%
Q4 25	+20.8%	+20.7%
Q2 26	+40.9%	+40.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$7M	1.2%
Q3 22	$6M	1.0%
Q4 22	$6M	1.1%
Q1 23	$8M	1.2%
Q2 23	$7M	1.0%
Q3 23	$7M	1.0%
Q4 23	$7M	1.1%
Q1 24	$8M	1.1%
Q2 24	$7M	1.0%
Q3 24	$7M	0.9%
Q4 24	$7M	0.9%
Q1 25	$9M	1.1%
Q2 25	$8M	1.0%
Q3 25	$8M	0.9%
Q4 25	$8M	0.9%
Q2 26	$9M	0.8%

OpEx Breakdown

Quarter	SG&A
Q2 22	$18M
Q3 22	$17M
Q4 22	$19M
Q1 23	$21M
Q2 23	$19M
Q3 23	$18M
Q4 23	$20M
Q1 24	$20M
Q2 24	$19M
Q3 24	$20M
Q4 24	$19M
Q1 25	$22M
Q2 25	$21M
Q3 25	$22M
Q4 25	$22M
Q2 26	$23M

Revenue Segments

Quarter	Lasers, sensors, and other	Optical communications	Lasers, Sensors And Other	Optical Communications	Non-Optical Communications
Q2 22	$116M	$451M	—	—	—
Q3 22	$124M	$440M	—	—	—
Q1 23	$158M	$498M	—	—	—
Q2 23	$163M	$506M	—	—	—
Q3 23	$163M	$503M	—	—	—
Q1 24	—	—	$152M	$533M	—
Q2 24	—	—	$145M	$568M	—
Q2 26	—	—	—	$833M	$300M

Revenue by Geography

Quarter	Asia Pacific	Europe	North America
Q2 22	$222M	$97M	$247M
Q3 22	$196M	$72M	$297M
Q1 23	$248M	$58M	$349M
Q2 23	$288M	$56M	$324M
Q3 23	$280M	$69M	$316M
Q4 23	$327M	$48M	$281M
Q1 24	$372M	$55M	$258M
Q2 24	$430M	$41M	$242M
Q3 24	$417M	$43M	$272M
Q4 24	$427M	$45M	$281M
Q1 25	$437M	$58M	$309M
Q2 25	$394M	$67M	$372M
Q3 25	$400M	$69M	$403M
Q4 25	$426M	$88M	$396M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$269M	$246M	$515M
Q4 22	$198M	$280M	$478M
Q1 23	$255M	$245M	$500M
Q2 23	$251M	$277M	$528M
Q3 23	$231M	$308M	$539M
Q4 23	$231M	$319M	$550M
Q1 24	$308M	$362M	$671M
Q2 24	$334M	$407M	$741M
Q3 24	$385M	$409M	$794M
Q4 24	$410M	$449M	$859M
Q1 25	$401M	$508M	$909M
Q2 25	$404M	$531M	$935M
Q3 25	$307M	$644M	$951M
Q4 25	$306M	$628M	$934M
Q1 26	$305M	$664M	$969M
Q2 26	$320M	$641M	$961M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	38M	+0.6%	+0.0%
Q3 22	37M	-0.2%	-0.4%
Q4 22	37M	-0.7%	-1.2%
Q1 23	37M	-1.2%	-1.5%
Q2 23	37M	+0.5%	-1.6%
Q3 23	37M	+0.1%	-1.3%
Q4 23	37M	-0.7%	-1.3%
Q1 24	36M	-0.7%	-0.8%
Q2 24	37M	+0.4%	-0.8%
Q3 24	37M	-0.1%	-1.0%
Q4 24	37M	-0.2%	-0.6%
Q1 25	36M	-0.3%	-0.2%
Q2 25	36M	-0.0%	-0.6%
Q3 25	36M	-0.2%	-0.8%
Q4 25	36M	-0.7%	-1.2%
Q2 26	36M	+0.3%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$46.5K	12K
Q3 22	$46.3K	12K
Q4 22	$41.3K	14K
Q1 23	$46.0K	14K
Q2 23	$47.0K	14K
Q3 23	$46.7K	14K
Q4 23	$44.7K	15K
Q1 24	$46.7K	15K
Q2 24	$48.6K	15K
Q3 24	$49.9K	15K
Q4 24	$53.0K	14K
Q1 25	$56.6K	14K
Q2 25	$58.7K	14K
Q3 25	$61.3K	14K
Q4 25	$55.3K	16K
Q2 26	$68.8K	16K

Revenue / Employee