Flex Ltd. (FLEX) Balance Sheet
FLEX balance sheet, FY2026
March 31, 2026 · U.S. dollars$22.06B assets = $16.92B liabilities + $5.14B equity
Both columns are drawn to the same scale: what FLEX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLEX financial health
Current ratio1.36
Adequate · current assets cover current liabilities 1.36×
Debt / equity0.84
Moderate leverage · $0.84 of debt for each $1 of equity
Equity / assets23.3%
Balanced · of assets funded by shareholders
Cash / debt55.4%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles7.5%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
FLEX balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $12.59BFY2017 | $22.06BFY2026 | +6.4%/yr | |
| Total liabilities | $9.92BFY2017 | $16.92BFY2026 | +6.1%/yr | |
| Shareholders’ equity | $2.64BFY2017 | $5.14BFY2026 | +7.7%/yr | |
| Cash & short-term investments | $1.83BFY2017 | $2.39BFY2026 | +3.0%/yr | |
| Total debt | $2.95BFY2017 | $4.32BFY2026 | +4.3%/yr | |
| Net cash (debt) | −$1.12BFY2017 | −$1.93BFY2026 | −$805.5M | |
| Working capital | $1.88BFY2017 | $4.32BFY2026 | +$2.4B | |
| Book value per share | $4.84FY2017 | $13.75FY2026 | +12.3%/yr | |
| Current ratio | 1.29FY2017 | 1.36FY2026 | +0.07 | |
| Debt / equity | 1.12FY2017 | 0.84FY2026 | −0.28 | |
| Shares outstanding | 546.2MFY2017 | 374.0MFY2026 | −4.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLEX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
FLEX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
FLEX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLEX balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.39B | $2.29B | $2.47B | $3.16B | $2.96B | $2.64B | $1.92B | $1.70B | $1.47B | $1.83B |
| Cash & equivalents | $2.39B | $2.29B | $2.47B | $3.16B | $2.96B | $2.64B | $1.92B | $1.70B | $1.47B | $1.83B |
| Short-term investments | — | — | — | — | — | — | — | — | $43.3M | $22.0M |
| Receivables | $5.74B | $4.29B | $3.28B | $3.72B | $3.89B | $4.24B | $2.72B | $2.83B | $2.52B | $2.19B |
| Inventory | $5.84B | $5.07B | $6.21B | $7.39B | $6.58B | $3.90B | $3.79B | $3.72B | $3.80B | $3.40B |
| Other current assets | $2.36B | $1.19B | $1.03B | $1.76B | $903.0M | $590.0M | $660.0M | $854.8M | $1.38B | $967.9M |
| Total current assets | $16.33B | $12.84B | $12.99B | $16.03B | $14.34B | $11.36B | $9.09B | $9.10B | $9.17B | $8.39B |
| Property, plant & equipment (net) | $3.16B | $2.89B | $2.87B | $2.95B | $2.76B | $2.74B | $2.82B | $2.34B | $2.24B | $2.32B |
| Goodwill & intangible assets | $1.65B | $1.68B | $1.38B | $1.45B | $1.75B | $1.30B | $1.33B | $1.40B | $1.55B | $1.35B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $421.7M | $536.1M | $0 |
| Other non-current assets | $912.0M | $964.0M | $1.01B | $973.0M | $473.0M | $431.0M | $456.0M | $234.0M | $224.2M | $541.5M |
| Total assets | $22.06B | $18.38B | $18.26B | $21.41B | $19.32B | $15.84B | $13.69B | $13.50B | $13.72B | $12.59B |
| Liabilities | ||||||||||
| Accounts payable | $8.05B | $5.15B | $4.47B | $5.72B | $6.25B | $5.25B | $5.11B | $5.15B | $5.12B | $4.48B |
| Short-term debt | — | $1.21B | $136.0M | $150.0M | $949.0M | $268.0M | $149.0M | $632.6M | $43.0M | $61.5M |
| Deferred revenue | $2.16B | $1.96B | $2.62B | $2.96B | $2.00B | $848.0M | $363.6M | $391.6M | $383.3M | $344.2M |
| Total current liabilities | $12.02B | $9.85B | $8.54B | $10.87B | $10.71B | $7.83B | $7.21B | $7.60B | $7.27B | $6.50B |
| Long-term debt | $3.75B | $2.48B | $3.26B | $3.69B | $3.25B | $3.52B | $2.69B | $2.42B | $2.90B | $2.89B |
| Lease obligations | $565.0M | $456.0M | $490.0M | $506.0M | $551.0M | $562.0M | $529.0M | — | — | — |
| Other long-term liabilities | $1.15B | $1.05B | $1.13B | $1.14B | $1.16B | $1.05B | $958.9M | $507.6M | $531.6M | $519.9M |
| Total liabilities | $16.92B | $13.38B | $12.93B | $15.70B | $15.12B | $12.40B | $10.86B | $10.53B | $10.70B | $9.92B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3.35B | $4.14B | $5.07B | $6.49B | $6.05B | $6.23B | $6.34B | $6.52B | $6.64B | $6.73B |
| Retained earnings (deficit) | $2.16B | $1.28B | $446.0M | −$560.0M | −$1.35B | −$2.29B | −$2.90B | −$3.01B | −$3.14B | −$3.57B |
| Treasury stock | — | — | — | — | −$388.0M | −$388.0M | −$388.2M | −$388.2M | −$388.2M | −$388.2M |
| Accumulated other comprehensive income | −$167.0M | −$224.0M | −$195.0M | −$194.0M | −$182.0M | −$119.0M | −$215.0M | −$151.2M | −$85.8M | −$128.1M |
| Minority interest | $0 | $0 | $0 | $355.0M | — | — | — | — | $0 | $33.7M |
| Total shareholders' equity | $5.14B | $5.00B | $5.33B | $5.35B | $4.13B | $3.44B | $2.83B | $2.97B | $3.02B | $2.64B |
| Key figures | ||||||||||
| Total debt | $4.32B | $4.15B | $3.89B | $4.20B | $4.75B | $4.34B | $3.37B | $3.05B | $2.94B | $2.95B |
| Net cash (debt) | −$1.93B | −$1.86B | −$1.41B | −$1.03B | −$1.78B | −$1.71B | −$1.44B | −$1.36B | −$1.47B | −$1.12B |
| Working capital | $4.32B | $2.99B | $4.45B | $5.17B | $3.63B | $3.53B | $1.88B | $1.51B | $1.90B | $1.88B |
| Tangible book value | $3.49B | $3.32B | $3.94B | $3.90B | $2.38B | $2.13B | $1.50B | $1.57B | $1.47B | $1.30B |
| Book value per share | $13.75 | $12.57 | $12.07 | $11.58 | $8.55 | $6.79 | $5.52 | $5.61 | $5.63 | $4.84 |
| Shares outstanding | 374.0M | 398.0M | 441.0M | 462.0M | 483.0M | 506.0M | 512.4M | 530.1M | 536.6M | 546.2M |
| Current ratio | 1.36 | 1.30 | 1.52 | 1.48 | 1.34 | 1.45 | 1.26 | 1.20 | 1.26 | 1.29 |
| Quick ratio | 0.68 | 0.67 | 0.67 | 0.63 | 0.64 | 0.88 | 0.64 | 0.60 | 0.55 | 0.62 |
| Debt / equity | 0.84 | 0.83 | 0.73 | 0.78 | 1.15 | 1.26 | 1.19 | 1.03 | 0.97 | 1.12 |
| Equity / assets | 23.3% | 27.2% | 29.2% | 25.0% | 21.4% | 21.7% | 20.7% | 22.0% | 22.0% | 21.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.84B | $2.39B | $3.06B | $2.25B | $2.24B | $2.29B | $2.31B | $2.60B | $2.24B | $2.47B | $2.76B | $2.90B |
| Cash & equivalents | $2.84B | $2.39B | $3.06B | $2.25B | $2.24B | $2.29B | $2.31B | $2.60B | $2.24B | $2.47B | $2.76B | $2.90B |
| Receivables | $5.04B | $5.74B | $4.72B | $4.68B | $4.67B | $3.67B | $4.01B | $4.10B | $3.41B | $3.28B | $4.21B | $4.38B |
| Inventory | $6.45B | $5.84B | $5.55B | $5.27B | $5.21B | $5.07B | $5.27B | $5.47B | $5.84B | $6.21B | $6.82B | $7.17B |
| Other current assets | $3.91B | $2.36B | $1.83B | $1.65B | $1.34B | $1.81B | $1.16B | $1.19B | $1.06B | $1.03B | $1.09B | $1.02B |
| Total current assets | $18.24B | $16.33B | $15.15B | $13.84B | $13.47B | $12.84B | $12.76B | $13.35B | $12.55B | $12.99B | $14.88B | $15.46B |
| Property, plant & equipment (net) | $3.45B | $3.16B | $3.06B | $3.06B | $3.02B | $2.89B | $2.82B | $2.83B | $2.80B | $2.87B | $2.94B | $2.94B |
| Goodwill & intangible assets | $2.57B | $1.65B | $1.68B | $1.69B | $1.70B | $1.68B | $1.68B | $1.37B | $1.37B | $1.38B | $1.61B | $1.61B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $945.0M | $912.0M | $933.0M | $960.0M | $951.0M | $964.0M | $1.02B | $1.03B | $1.02B | $1.01B | $935.0M | $956.0M |
| Total assets | $25.20B | $22.06B | $20.82B | $19.55B | $19.13B | $18.38B | $18.27B | $18.59B | $17.74B | $18.26B | $20.37B | $20.97B |
| Liabilities | ||||||||||||
| Accounts payable | $9.20B | $8.05B | $6.48B | $6.12B | $5.80B | $5.15B | $5.03B | $5.14B | $4.73B | $4.47B | $5.29B | $5.73B |
| Short-term debt | — | — | $675.0M | $676.0M | $677.0M | $1.21B | $532.0M | $531.0M | $543.0M | $136.0M | $3.0M | $500.0M |
| Deferred revenue | $2.05B | $2.16B | $1.96B | $1.91B | $1.88B | $1.96B | $1.94B | $2.13B | $2.27B | $2.62B | $2.57B | $2.79B |
| Total current liabilities | $13.22B | $12.02B | $10.86B | $10.37B | $9.92B | $9.85B | $9.04B | $9.31B | $8.97B | $8.54B | $9.39B | $10.11B |
| Long-term debt | $0 | $3.75B | $3.76B | $3.01B | $3.00B | $2.48B | $3.15B | $3.18B | $2.67B | $3.26B | $3.43B | $3.41B |
| Lease obligations | — | $565.0M | $583.0M | $604.0M | $583.0M | $456.0M | $475.0M | $476.0M | $463.0M | $490.0M | $502.0M | $497.0M |
| Other long-term liabilities | $6.48B | $1.15B | $1.08B | $1.12B | $1.12B | $1.05B | $1.10B | $1.10B | $1.10B | $1.13B | $1.10B | $1.09B |
| Total liabilities | $19.70B | $16.92B | $15.70B | $14.51B | $14.04B | $13.38B | $13.28B | $13.58B | $12.74B | $12.93B | $13.92B | $14.61B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3.40B | $3.35B | $3.51B | $3.67B | $3.93B | $4.14B | $4.21B | $4.38B | $4.65B | $5.07B | $6.06B | $6.29B |
| Retained earnings (deficit) | $2.45B | $2.16B | $1.91B | $1.68B | $1.48B | $1.28B | $1.06B | $799.0M | $585.0M | $446.0M | $51.0M | −$146.0M |
| Accumulated other comprehensive income | −$150.0M | −$167.0M | −$104.0M | −$111.0M | −$116.0M | −$224.0M | −$279.0M | −$173.0M | −$238.0M | −$195.0M | −$142.0M | −$240.0M |
| Minority interest | — | $0 | — | — | — | $0 | — | — | — | — | — | — |
| Total shareholders' equity | $5.50B | $5.14B | $5.12B | $5.04B | $5.09B | $5.00B | $4.99B | $5.00B | $5.00B | $5.33B | $5.96B | $5.91B |
| Key figures | ||||||||||||
| Total debt | $5.93B | $4.32B | $5.60B | $4.29B | $4.26B | $4.15B | $4.15B | $4.18B | $3.68B | $3.89B | $3.94B | $3.91B |
| Net cash (debt) | −$3.09B | −$1.93B | −$2.54B | −$2.04B | −$2.02B | −$1.86B | −$1.84B | −$1.58B | −$1.44B | −$1.41B | −$1.17B | −$1.01B |
| Working capital | $5.02B | $4.32B | $4.30B | $3.47B | $3.55B | $2.99B | $3.72B | $4.04B | $3.58B | $4.45B | $5.49B | $5.36B |
| Tangible book value | $2.93B | $3.49B | $3.45B | $3.35B | $3.39B | $3.32B | $3.32B | $3.63B | $3.63B | $3.94B | $4.35B | $4.29B |
| Book value per share | $14.71 | $13.75 | $13.62 | $13.25 | $13.36 | $12.86 | $12.67 | $12.51 | $12.16 | $12.53 | $13.68 | $13.18 |
| Shares outstanding | 374.0M | 374.0M | 376.0M | 380.0M | 381.0M | 389.0M | 394.0M | 400.0M | 411.0M | 425.0M | 436.0M | 448.0M |
| Current ratio | 1.38 | 1.36 | 1.40 | 1.33 | 1.36 | 1.30 | 1.41 | 1.43 | 1.40 | 1.52 | 1.59 | 1.53 |
| Quick ratio | 0.60 | 0.68 | 0.72 | 0.67 | 0.70 | 0.61 | 0.70 | 0.72 | 0.63 | 0.67 | 0.74 | 0.72 |
| Debt / equity | 1.08 | 0.84 | 1.09 | 0.85 | 0.84 | 0.83 | 0.83 | 0.84 | 0.74 | 0.73 | 0.66 | 0.66 |
| Equity / assets | 21.8% | 23.3% | 24.6% | 25.8% | 26.6% | 27.2% | 27.3% | 26.9% | 28.2% | 29.2% | 29.3% | 28.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 20, 2026); data from EODHD.
FLEX financial position
At the end of fiscal 2026 (March 31, 2026), Flex had total assets of $22.1 billion (up 20.0% from a year earlier), total liabilities of $16.9 billion and shareholders' equity of $5.1 billion. It held $2.4 billion in cash and short-term investments against $4.3 billion of debt, net debt of $1.9 billion. Its current ratio was 1.36. In the latest quarter (ended June 30, 2026) total assets were $25.2 billion and equity $5.5 billion.
Related: FLEX income statement, FLEX cash flow statement, FLEX key metrics. See the FLEX stock overview for the latest quote and news.
FLEX balance sheet FAQ
What are Flex's total assets?
Flex reported total assets of $22.1 billion at the end of fiscal 2026 (March 31, 2026), compared with $18.4 billion a year earlier.
How much debt does Flex have?
Flex had $4.3 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.84.
How much cash does Flex have?
Flex held $2.4 billion in cash and short-term investments at the end of fiscal 2026; with $4.3 billion of debt that is net debt of $1.9 billion.
What is Flex's book value?
Flex's shareholders' equity (book value) was $5.1 billion at the end of fiscal 2026, or $13.75 per share.
What is Flex's current ratio?
Flex had current assets of $16.3 billion and current liabilities of $12.0 billion, a current ratio of 1.36 (it can cover its short-term obligations).
How much goodwill does Flex have?
Flex carried $1.7 billion of goodwill and intangible assets, 7.5% of total assets, at the end of fiscal 2026.