Slide 1: Q4 FY25 Earnings Presentation
Q4 FY25 Earnings Presentation Quarter End: March 31, 2025 Earnings Announcement: May 7, 2025
Slide 2: Risks and non-GAAP disclosures
Risks and non-GAAP disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance for future financial performance (including expected revenues, operating income, margins and
Slide 3: Executive summary
Executive summary Revathi Advaithi Chief Executive Officer
Slide 4: Executive summary
Executive summary Q4 FINANCIAL PERFORMANCE Revenue Adj. operating income Adj. operating margin Adj. net income Adj. earnings per share $6.4B $396M 6.2% $285M $0.73 FY25 FINANCIAL PERFORMANCE Revenue Adj. operating income Adj. operating margin Adj. net income Adj. earnings per share $25.8B $1.5B 5.7%
Slide 5: Flex value proposition
Flex value proposition We are differentiated through our EMS + Products + Services strategy Advanced Manufacturing Product Portfolio Delivering Profitable & Services Growth Flex-owned products FY27 Goals Active portfolio management Built margin-accretive product portfolio • Low-to-mid single digit r
Slide 6: Power and compute: winning solutions for the data center
Power and compute: winning solutions for the data center Reliability Agility Health Solutions Automotive Industrial CEC Lifestyle Consumer Devices Power Cloud Data Center ~$4.8B ~50% Y/Y Growth Power: products from grid to chip Cloud: accelerating deployment at scale through vertical integration CRI
Slide 7: Our unmatched global footprint
Our unmatched global footprint Reaching across every major geography and powered by a world-class workforce that delivers precision at scale Americas Revenue Contribution FY20-FY25 62% FY20 38% 49% FY25 51% Americas Rest of World Global Scale Americas Europe, Middle East, Asia 18M+ square feet and A
Slide 8: Financials
Financials Kevin Krumm Chief Financial Officer
Slide 9: Q4 Key financials
Q4 Key financials QUARTER HIGHLIGHTS Q4FY24 Q4FY25 Y/Y • Q4 strength in data center cloud FLEX & power, networking Revenue $6,169M $6,398M 4% • Record-level adjusted gross and operating margin Adj. Gross Profit / Margin $532M / 8.6% $602M / 9.4% 13% / 80 bps • Second consecutive quarter Adj. Operati
Slide 10: Q4 FY25 Segment performance
Q4 FY25 Segment performance REVENUE A ADJ. OPERATING INCOME ADJ. OPERATING MARGIN TOTAL FLEX REVENUE ($B) Y/Y GROWTH ($M) Y/Y GROWTH % Y/Y CHANGE RELIABILITY $2.9 (1.3%) $180 5.4% 6.2% 40 bps 45% AGILITY 55% $6.4B $3.5 8.2% $230 27.3% 6.6% 100 bps CORPORATE SERVICES -- -- ($14) -- -- -- AND OTHER B
Slide 11: FY25 Key financials
FY25 Key financials FULL YEAR HIGHLIGHTS FY24 FY25 Y/Y • Strong cloud, power, medical device demand mitigated FLEX macro-driven headwinds Revenue $26.4B $25.8B (2%) • Record annual adj. gross and operating margins Adj. Gross Profit / Margin $2,060M / 7.8% $2,261M / 8.8% 10% / 100 bps • Beneficial mi
Slide 12: Cash flow overview
Cash flow overview Strong FCF performance driven by continued focus on inventory & capex discipline CAPITAL EXPENDITURES, NET A ($M) ($M) Q4FY25 FY25 GAAP NET INCOME $222 $838 Depreciation, Amortization and other Impairment Charges 138 539 $108 $100 $107 $108 $77 Change in Working Capital and other,
Slide 13: FY25 Segment & business unit performance
FY25 Segment & business unit performance ADJ. OP FULL YEAR HIGHLIGHTS FY24 FY25 Y/Y MARGIN • Strong Data Center Cloud + FLEX REVENUE A $26.4B $25.8B (2%) 5.7% Power growth RELIABILITY REVENUE $12.5B $11.7B (6%) 5.8% • Diversified portfolio helping Automotive $3.8B $3.7B (3%) mitigate end-market cycl
Slide 14: FY26 Guidance
FY26 Guidance Current Market Assumptions & Outlook $25.0 - $26.8B revenue • Guidance based on current demand indicators • Revenue range widened due to heightened macro uncertainty 6.0% - 6.1% adj. operating marginA • Expect to reach FY27 goal for 6%+ adj. operating margin one year early $2.81 - $3.0
Slide 15: FY26 Revenue expectations
FY26 Revenue expectations Balancing growth in key markets & managing mix against continued macro uncertainty RELIABILITY Down mid-single-digits to up mid-single-digits Industrial Ongoing strong demand in data center power balanced against soft renewables, core industrial Health Steady medical device
Slide 16: Q1 FY26 Guidance
Q1 FY26 Guidance RELIABILITY Flat to down high-single-digits AGILITY Down low-single-digits to up mid-single-digits Revenue Adj. operating incomeA Adj. earnings per shareB $6.0B - $6.5B $330M - $370M $0.58 - $0.66 GAAP $278M - $318M GAAP $0.46- $0.54 Interest expense Adj. income tax rate Weighted av
Slide 17: Thank you.
Thank you. For more information, please visit investors.flex.com
Slide 18: Appendix
Appendix flex.
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Year- Year- ended ended ended ended ended ended March 31, December 31, March 31, December 31, March 31, March 31, 2025 2024 2024 2023 2025 2024 % of % of % of % of % of % of ($ in Millions) revenue revenue reve
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Year- Year- ended ended ended ended ended ended March 31, 2025 December 31, 2024 March 31, 2024 December 31, 2023 March 31, 2025 March 31, 2024 ($ in Millions) GAAP operating income $305 $334 $159 $198 $1,169 $
Slide 21: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Year- Year- ended ended ended ended ended ended December 31, December 31, ($ in Millions, except for EPS) March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024 2024 2023 GAAP net income from continuing op
Slide 22: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Year- Quarter- Year- ended ended ended ended March 31, 2025 March 31, 2025 March 31, 2025 March 31, 2025 ($ in Millions) ($ in Millions) Segment income: Reconciliation of segment income Flex Agility Solutions $230 $854 GAAP Operating Inc
Slide 23: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Quarter- Quarter- ended Ended ended ended ended ended ($ in Millions) March 31, 2025 December 31, 2024 September 27, 2024 June 28, 2024 March 31, 2024 December 31, 2023 Net cash provided by operating activities