Financials

Plexus Corp. financials

PLXS Electronic Equipment, Instruments and Components

Founded in 1979, Plexus Corp. is a technology-focused electronics manufacturing services company specializing in the design, manufacture, and support of complex electronic systems. The firm generates revenue from high-margin, value-added services across aerospace, medical, defense, and industrial sectors. Led by CEO Michael J. O'Brien since 2018, Plexus differentiates itself through advanced engineering processes and a global manufacturing footprint. It is actively investing in digital transformation and capacity expansion to spur growth in a competitive market.

Snapshot

Plexus Corp. reported $4.03B in revenue in fiscal 2025, up 1.8% year over year, with an operating margin of 5.0%.

Revenue (FY2025): $4.03B
YoY growth: +1.8%
Operating margin: 5.0%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	4,032,970	3,960,830	4,210,310	3,811,370
Cost of Sales	3,626,450	3,582,300	3,815,750	3,464,140
Gross Profit	406,514	378,530	394,554	347,229
Other Operating Expenses	204,143	210,798	198,734	169,044
Operating Profit	202,371	167,732	195,820	178,185
Interest and Investment Income	3,922	3,860	3,138	1,305
Interest Expense	(11,605)	(28,876)	(31,542)	(15,858)
Non-Operating Income	(6,670)	(13,184)	(6,403)	(5,329)
Total Non-Operating Income	(14,353)	(38,200)	(34,807)	(19,882)
Income Before Provision for Income Taxes	188,018	129,532	161,013	158,303
Provision for Income Taxes	15,133	17,717	21,919	20,060
Consolidated Net Income	172,885	111,815	139,094	138,243
Net Income Attributable to Common Shareholders	172,885	111,815	139,094	138,243
Basic EPS	6.39	4.08	5.04	4.96
Diluted EPS	6.26	4.01	4.95	4.86
Basic Weighted Average Shares Outstanding	27,038	27,397	27,582	27,862
Diluted Weighted Average Shares Outstanding	27,616	27,909	28,114	28,439
Shares Outstanding	26,828	27,122	27,466	27,679

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	306,464	345,109	256,233	274,805
Total Cash and Cash Equivalents	306,464	345,109	256,233	274,805
Accounts Receivable	807,227	742,926	803,839	876,236
Total Trade Receivables	807,227	742,926	803,839	876,236
Inventories	1,229,840	1,311,430	1,562,040	1,602,780
Other Current Assets	55,263	77,681	50,114	62,298
Total Current Assets	2,398,790	2,477,150	2,672,220	2,816,120
Net Property, Plant & Equipment	618,915	575,472	561,399	509,839
Other Long-Term Assets	119,402	101,199	87,550	67,264
Total Assets	3,137,110	3,153,820	3,321,170	3,393,230
Accounts Payable	726,597	606,378	646,610	805,583
Accrued Expenses	170,443	170,439	165,501	147,349
Current Portion of Long-Term Debt	45,793	157,325	240,205	273,971
Unearned Revenue	575,850	709,152	760,351	779,286
Total Current Liabilities	1,518,680	1,643,290	1,812,670	2,006,190
Long-Term Debt	91,987	89,993	190,853	187,776
Leases	29,422	32,275	38,552	33,628
Other Long-Term Liabilities	42,430	63,434	64,718	69,901
Total Long-Term Liabilities	163,839	185,702	294,123	291,305
Total Liabilities	1,682,520	1,829,000	2,106,790	2,297,490
Common Stock	547	545	543	541
Treasury Stock	(1,255,450)	(1,190,120)	(1,134,430)	(1,093,480)
Additional Paid-in Capital	695,653	680,638	661,270	652,467
Accumulated Other Comprehensive Income	17,811	10,614	(24,330)	(36,028)
Retained Earnings	1,996,030	1,823,140	1,711,330	1,572,230
Total Common Shareholders' Equity	1,454,590	1,324,830	1,214,380	1,095,730
Total Shareholders' Equity	1,454,590	1,324,830	1,214,380	1,095,730
Total Liabilities and Shareholders' Equity	3,137,110	3,153,820	3,321,170	3,393,230

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	172,885	111,815	139,094	138,243
Depreciation & Amortization	77,792	77,847	69,758	62,689
Share-Based Compensation Expense	30,268	30,314	21,300	23,336
Other Adjustments	(22,856)	(8,072)	(23,017)	(9,828)
Changes in Trade Receivables	(60,427)	66,647	78,373	(253,467)
Changes in Inventories	84,862	262,266	48,613	(652,989)
Changes in Accounts Payable	98,644	(30,829)	(170,685)	176,037
Changes in Income Taxes Payable	(14,663)	(18,147)	(5,745)	(713)
Changes in Unearned Revenue	(134,533)	(55,865)	(21,775)	479,734
Changes in Other Operating Activities	17,259	526	29,906	10,718
Cash from Operating Activities	249,231	436,502	165,822	(26,240)
Capital Expenditure	(95,264)	(95,182)	(104,049)	(101,612)
Other Investing Activities	(347)	235	10,745	51
Cash from Investing Activities	(95,611)	(94,947)	(93,304)	(101,561)
Issuance of Long-Term Debt	477,000	550,500	748,500	758,000
Repayments of Long-Term Debt	(592,817)	(739,456)	(787,785)	(556,726)
Net Issuance / (Repayments) of Long-Term Debt	(115,817)	(188,956)	(39,285)	201,274
Issuance of Common Shares	—	210	8	480
Repurchases of Common Shares	(80,587)	(66,840)	(53,448)	(61,561)
Net Issuance / (Repurchases) of Common Shares	(80,587)	(66,630)	(53,440)	(61,081)
Other Financing Activities	—	—	—	(898)
Cash from Financing Activities	(196,404)	(255,586)	(92,725)	139,295
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2,080	4,839	1,391	(6,537)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	(40,704)	90,808	(18,816)	4,957

Key metrics

$3.84B

Market Cap

22.89x

P/E

0.95x

P/S

13.22x

EV/EBITDA

12.4%

Return on Equity

9.4%

Return on Invested Capital

1.58x

Current Ratio

3.8%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q2 2026	$1.16B	+18.7%	5.3%	$62M
Q1 2026	$1.07B	+9.6%	5.1%	$54M
Q4 2025	$1.06B	+0.7%	5.0%	$53M
Q3 2025	$1.02B	+6.0%	5.3%	$54M
Q2 2025	$980M	—	5.0%	$49M
Q1 2025	$976M	—	4.8%	$47M
Q4 2024	$1.05B	—	5.1%	$54M
Q3 2024	$961M	—	4.1%	$39M

Margins

10.1%

Gross margin

5.0%

Operating margin

4.3%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-19

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

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