Slide 1: Avnet Fourth Quarter and Fiscal Year 2025 Financial Results
Avnet Fourth Quarter and Fiscal Year 2025 Financial Results August 6, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the financial condition, results of operations, and business of the
Slide 3: Q4 FY25 Highlights
Q4 FY25 Highlights Regional demand $5.6B • Asia growth Y/Y offset by EMEA and the Americas Revenue +1% Y/Y End market demand • Compute, transportation and communication increased Y/Y 1.3% 2.5% Operating Adjusted Margin Operating Lead times Margin (1) • Lead times generally stable Book-to-bill $0.07
Slide 4: Revenue
Revenue Y/Y growth $5.56B $5.60B $5.66B $5.62B $5.32B Revenue(1) As Constant ($M) reported currency REGIONS Americas $1,327 (2%) (2%) EMEA $1,600 (17%) (21%) Asia $2,691 18% 17% SEGMENTS Asia 47% 48% 47% 48% 41% Electronic Components $5,231 1% (1%) Farnell $387 3% 1% Q4 Q1 Q2 Q3 Q4 AVNET $5,618 1% (
Slide 5: Q4 Income Statement
Q4 Income Statement SG&A Expenses $5.6B Sales as % of Gross Profit 76.0% 70.0% 10.6% Gross margin – driven by sales mix shift to Asia SG&A expenses – flattish Y/Y and up 4% Q/Q due $451M to F/X 76.0% SG&A expenses as a percentage of gross profit Q4 Q4 FY24 FY25 5
Slide 6: Q4 Adjusted Operating Income
(1) Q4 Adjusted Operating Income 3.5% 3.0% 2.8% 2.9% $193M 2.5% Adj Op Y/Y Adj Op Y/Y $169M $159M $153M (1) Income growth Margin growth (1) $143M ($M) SEGMENTS Electronic Components $157 -25% 3.0% -105 bps Farnell $ 17 10% 4.3% 25 bps Corporate Expenses ($31) - - - AVNET $143 -26% 2.5% -94 bps Q4 Q1
Slide 7: Q4 Other Expenses & Adjusted Diluted EPS
(1) Q4 Other Expenses & Adjusted Diluted EPS Adjusted Diluted EPS (1) $58M Interest expense down $6M Y/Y and down $3M Q/Q $1.22 $0.81 23.0% Adjusted effective tax rate (2) $0.81 Adjusted diluted EPS (1) – down 34% Y/Y and down 4% Q/Q Q4 Q4 FY24 FY25 (1) Non-GAAP measure. See Appendices for Non-GAAP
Slide 8: Q4 Balance Sheet & Liquidity
Q4 Balance Sheet & Liquidity Inventory – $35M decrease Q/Q as reported; $5.2B Diluted Shares Outstanding $185M decrease Q/Q excluding F/X 91M 99 WC days – down 5 days Q/Q 85M 3.4x Gross debt leverage $1.1B Available committed lines of credit $50M Share repurchases $0.33 Dividend – returned $28M to s
Slide 9: Outlook for Q1 FY26
Outlook for Q1 FY26 (ending September 27, 2025) Metric Guidance Range Midpoint Sales $5.55B – $5.85B $5.70B Adjusted Diluted EPS (1) $0.75 – $0.85 $0.80 Factors impacting our Q1 FY26 outlook • Based on current market conditions • Implies sequential sales growth of 2% at the midpoint and assumes sale
Slide 10: Non-GAAP Definitions
Non-GAAP Definitions In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses certain non-GAAP financial information including (i) adjusted operating income, (ii) adjusted oth
Slide 11: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarters Ended Fiscal Year June 28, March 29, December 28, September 28, 2025* 2025 2025 2024 2024 ($ in thousands, except per share amounts) GAAP operating income $ 514,254 $ 73,452 $ 143,251 $ 155,327 $ 142,225 Restructuring, integration, and o
Slide 12: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarters Ended Fiscal Year June 29, March 30, December 30, September 30, 2024 2024 2024 2023 2023 ($ in thousands, except per share amounts) GAAP operating income $ 844,367 $ 164,189 $ 190,151 $ 236,257 $ 253,769 Restructuring, integration, and o
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Low End of High End of Guidance Range Guidance Range Adjusted diluted earnings per share guidance $ 0.75 $ 0.85 Restructuring, integration, and other expenses (net of tax) (0.10) (0.20) GAAP diluted earnings per share guidance $ 0.65 0.65 13