Fabrinet Financials
This page shows Fabrinet (FN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Fabrinet’s high-volume manufacturing model turns thin but steady gross margins into strong profitability when overhead grows slower than sales.
Free cash flow fell to$207.3M from$365.6M even as profit improved, which points to growth consuming cash before it is collected. The clue is in working capital and reinvestment: receivables and inventory expanded with sales, and capital spending jumped to$121.1M , so more of each accounting dollar stayed tied up inside operations.
Gross margin stability near
Balance-sheet posture still looks conservative: current assets covered current liabilities about 3.0x, and cash remained at
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Fabrinet's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Fabrinet has an operating margin of 9.5%, meaning the company retains $9 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is down from 9.6% the prior year.
Fabrinet's revenue surged 18.6% year-over-year to $3.4B, reflecting rapid business expansion. This strong growth earns a score of 84/100.
Fabrinet has a moderate D/E ratio of 0.43. This balance of debt and equity financing earns a leverage score of 63/100.
With a current ratio of 3.00, Fabrinet holds $3.00 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 77/100.
Fabrinet has a free cash flow margin of 6.1%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.
Fabrinet earns a strong 16.8% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is down from 17.0% the prior year.
Fabrinet scores 15.32, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($17.0B) relative to total liabilities ($849.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Fabrinet passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Fabrinet generates $0.99 in operating cash flow ($328.4M OCF vs $332.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Fabrinet generated $3.4B in revenue in fiscal year 2025. This represents an increase of 18.6% from the prior year.
Fabrinet's EBITDA was $377.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.7% from the prior year.
Fabrinet reported $332.5M in net income in fiscal year 2025. This represents an increase of 12.3% from the prior year.
Fabrinet earned $9.17 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.2% from the prior year.
Cash & Balance Sheet
Fabrinet generated $207.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 43.3% from the prior year.
Fabrinet held $306.4M in cash against $0 in long-term debt as of fiscal year 2025.
Fabrinet had 36M shares outstanding in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Margins & Returns
Fabrinet's gross margin was 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Fabrinet's operating margin was 9.5% in fiscal year 2025, reflecting core business profitability. This is down 0.1 percentage points from the prior year.
Fabrinet's net profit margin was 9.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Fabrinet's ROE was 16.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the prior year.
Capital Allocation
Fabrinet spent $125.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 218.4% from the prior year.
Fabrinet invested $121.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 154.8% from the prior year.
FN Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+7.2% | $1.1B+15.8% | $978.1M+7.5% | $909.7M+4.3% | $871.8M+4.6% | $833.6M+3.7% | $804.2M+6.8% | $753.3M |
| Cost of Revenue | $1.1B+7.5% | $995.2M+15.5% | $861.7M+7.9% | $798.4M+3.7% | $769.6M+5.0% | $732.8M+3.9% | $705.2M+6.7% | $660.8M |
| Gross Profit | $144.3M+4.8% | $137.7M+18.2% | $116.4M+4.6% | $111.3M+8.9% | $102.2M+1.3% | $100.8M+1.8% | $99.0M+7.1% | $92.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $24.3M+4.4% | $23.3M+4.7% | $22.2M+0.4% | $22.2M+0.5% | $22.1M+4.0% | $21.2M-3.7% | $22.0M+15.3% | $19.1M |
| Operating Income | $120.0M+4.9% | $114.4M+21.5% | $94.2M+5.8% | $89.1M+12.9% | $78.9M-0.9% | $79.6M+3.5% | $76.9M+5.0% | $73.3M |
| Interest Expense | N/A | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $1.4M |
| Income Tax | $9.0M+27.2% | $7.1M+29.0% | $5.5M-8.7% | $6.0M+20.4% | $5.0M-39.4% | $8.3M+145.5% | $3.4M-14.0% | $3.9M |
| Net Income | $125.2M+11.2% | $112.6M+17.4% | $95.9M+10.0% | $87.2M+7.3% | $81.3M-6.2% | $86.6M+11.9% | $77.4M-4.5% | $81.1M |
| EPS (Diluted) | $3.45+10.9% | $3.11+16.9% | $2.66 | N/A | $2.25-5.5% | $2.38+11.7% | $2.13 | N/A |
FN Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5B+7.4% | $3.3B+8.6% | $3.0B+6.3% | $2.8B+8.1% | $2.6B+3.0% | $2.5B+4.2% | $2.4B+4.3% | $2.3B |
| Current Assets | $2.9B+6.2% | $2.8B+8.4% | $2.6B+5.4% | $2.4B+8.2% | $2.2B+2.1% | $2.2B+4.3% | $2.1B+4.8% | $2.0B |
| Cash & Equivalents | $356.6M+11.5% | $319.9M+4.9% | $305.0M-0.5% | $306.4M-0.2% | $306.9M-24.0% | $403.7M+0.7% | $400.7M-2.3% | $410.0M |
| Inventory | $876.0M+9.6% | $798.9M+10.6% | $722.2M+24.3% | $581.0M+9.3% | $531.3M+8.6% | $489.2M+11.1% | $440.4M-4.9% | $463.2M |
| Accounts Receivable | $908.5M+13.3% | $801.7M+13.4% | $706.9M-6.8% | $758.9M+15.3% | $658.3M-3.2% | $680.1M+2.6% | $662.7M+11.9% | $592.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.2B+11.1% | $1.1B+14.4% | $947.6M+11.5% | $849.6M+19.3% | $712.1M+1.8% | $699.4M+14.2% | $612.4M+3.3% | $592.8M |
| Current Liabilities | $1.2B+11.5% | $1.0B+14.5% | $905.5M+11.8% | $809.8M+20.0% | $675.0M+1.8% | $663.2M+15.1% | $576.0M+3.2% | $557.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.3B+5.5% | $2.2B+6.0% | $2.1B+4.0% | $2.0B+3.9% | $1.9B+3.5% | $1.8B+0.9% | $1.8B+4.6% | $1.7B |
| Retained Earnings | $2.4B+5.4% | $2.3B+5.1% | $2.2B+4.6% | $2.1B+4.3% | $2.0B+4.2% | $1.9B+4.7% | $1.8B+4.4% | $1.8B |
FN Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $52.9M+14.4% | $46.3M-54.9% | $102.6M+86.2% | $55.1M-25.7% | $74.2M-36.0% | $115.9M+39.3% | $83.2M+0.1% | $83.1M |
| Capital Expenditures | $63.8M+23.5% | $51.6M+14.0% | $45.3M-10.2% | $50.4M+76.8% | $28.5M+30.2% | $21.9M+8.1% | $20.3M+59.4% | $12.7M |
| Free Cash Flow | -$10.8M-102.4% | -$5.3M-109.3% | $57.3M+1123.6% | $4.7M-89.7% | $45.7M-51.4% | $94.0M+49.4% | $62.9M-10.6% | $70.4M |
| Investing Cash Flow | -$13.7M+45.5% | -$25.2M+68.9% | -$81.0M-144.1% | -$33.2M+75.8% | -$137.1M-210.9% | -$44.1M+38.8% | -$72.0M-40.8% | -$51.1M |
| Financing Cash Flow | -$917K+84.0% | -$5.7M+75.0% | -$23.0M-1.5% | -$22.6M+35.3% | -$35.0M+49.4% | -$69.2M-242.2% | -$20.2M-186.7% | -$7.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $151K-96.9% | $4.8M+1695.5% | $268K-98.8% | $22.3M-36.0% | $34.8M-49.4% | $68.7M | $0-100.0% | $3.5M |
FN Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.9%-0.3pp | 12.2%+0.3pp | 11.9%-0.3pp | 12.2%+0.5pp | 11.7%-0.4pp | 12.1%-0.2pp | 12.3%+0.0pp | 12.3% |
| Operating Margin | 9.9%-0.2pp | 10.1%+0.5pp | 9.6%-0.2pp | 9.8%+0.7pp | 9.0%-0.5pp | 9.6%-0.0pp | 9.6%-0.2pp | 9.7% |
| Net Margin | 10.3%+0.4pp | 9.9%+0.1pp | 9.8%+0.2pp | 9.6%+0.3pp | 9.3%-1.1pp | 10.4%+0.8pp | 9.6%-1.1pp | 10.8% |
| Return on Equity | 5.4%+0.3pp | 5.2%+0.5pp | 4.7%+0.3pp | 4.4%+0.1pp | 4.3%-0.4pp | 4.7%+0.5pp | 4.2%-0.4pp | 4.6% |
| Return on Assets | 3.6%+0.1pp | 3.5%+0.3pp | 3.2%+0.1pp | 3.1%-0.0pp | 3.1%-0.3pp | 3.4%+0.2pp | 3.2%-0.3pp | 3.5% |
| Current Ratio | 2.55-0.1 | 2.68-0.2 | 2.83-0.2 | 3.00-0.3 | 3.320.0 | 3.32-0.3 | 3.66+0.1 | 3.61 |
| Debt-to-Equity | 0.52+0.0 | 0.50+0.0 | 0.46+0.0 | 0.43+0.1 | 0.370.0 | 0.38+0.0 | 0.340.0 | 0.34 |
| FCF Margin | -0.9%-0.4pp | -0.5%-6.3pp | 5.9%+5.3pp | 0.5%-4.7pp | 5.2%-6.0pp | 11.3%+3.5pp | 7.8%-1.5pp | 9.3% |
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Frequently Asked Questions
What is Fabrinet's annual revenue?
Fabrinet (FN) reported $3.4B in total revenue for fiscal year 2025. This represents a 18.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fabrinet's revenue growing?
Fabrinet (FN) revenue grew by 18.6% year-over-year, from $2.9B to $3.4B in fiscal year 2025.
Is Fabrinet profitable?
Yes, Fabrinet (FN) reported a net income of $332.5M in fiscal year 2025, with a net profit margin of 9.7%.
What is Fabrinet's EBITDA?
Fabrinet (FN) had EBITDA of $377.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Fabrinet's gross margin?
Fabrinet (FN) had a gross margin of 12.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fabrinet's operating margin?
Fabrinet (FN) had an operating margin of 9.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Fabrinet's net profit margin?
Fabrinet (FN) had a net profit margin of 9.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Fabrinet's return on equity (ROE)?
Fabrinet (FN) has a return on equity of 16.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fabrinet's free cash flow?
Fabrinet (FN) generated $207.3M in free cash flow during fiscal year 2025. This represents a -43.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fabrinet's operating cash flow?
Fabrinet (FN) generated $328.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Fabrinet's total assets?
Fabrinet (FN) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fabrinet's capital expenditures?
Fabrinet (FN) invested $121.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Fabrinet's current ratio?
Fabrinet (FN) had a current ratio of 3.00 as of fiscal year 2025, which is generally considered healthy.
What is Fabrinet's debt-to-equity ratio?
Fabrinet (FN) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fabrinet's return on assets (ROA)?
Fabrinet (FN) had a return on assets of 11.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fabrinet's Altman Z-Score?
Fabrinet (FN) has an Altman Z-Score of 15.32, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Fabrinet's Piotroski F-Score?
Fabrinet (FN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Fabrinet's earnings high quality?
Fabrinet (FN) has an earnings quality ratio of 0.99x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Fabrinet?
Fabrinet (FN) scores 75 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.