Plexus Corp Financials
This page shows Plexus Corp (PLXS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Working-capital swings, especially inventory, shape Plexus’s cash generation more than its fairly steady low-margin earnings do.
From FY2022 through FY2025, net income moved far less than operating cash flow; the jump to$437M in FY2024 arrived as inventory dropped to$1.31B , which points to a working-capital release rather than a new earnings plateau and shows how heavily cash depends on balance-sheet movement. FY2025 then confirmed that pattern: profit climbed to$173M while free cash flow settled back to$154M as that tailwind faded and cash generation normalized closer to accounting earnings.
This is still a thin-margin operating model: even after improvement, gross margin reached only
The balance sheet has quietly strengthened, with total liabilities down about
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 Plexus Corp'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.
Plexus Corp has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This strong profitability earns a score of 65/100, reflecting efficient cost management and pricing power. This is up from 4.2% the prior year.
Plexus Corp's revenue grew a modest 1.8% year-over-year to $4.0B. This slow but positive growth earns a score of 25/100.
Plexus Corp has a moderate D/E ratio of 1.16. This balance of debt and equity financing earns a leverage score of 44/100.
Plexus Corp's current ratio of 1.58 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.
Plexus Corp has a free cash flow margin of 3.8%, earning a moderate score of 47/100. The company generates positive cash flow after capital investments, but with room for improvement.
Plexus Corp earns a strong 11.9% return on equity (ROE), meaning it generates $12 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 82/100. This is up from 8.4% the prior year.
Plexus Corp scores 5.15, well above the 2.99 safe threshold. 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.
Plexus Corp passes 8 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Plexus Corp generates $1.44 in operating cash flow ($249.2M OCF vs $172.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Plexus Corp earns $17.4 in operating income for every $1 of interest expense ($202.4M vs $11.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Plexus Corp generated $4.0B in revenue in fiscal year 2025. This represents an increase of 1.8% from the prior year.
Plexus Corp's EBITDA was $280.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.1% from the prior year.
Plexus Corp reported $172.9M in net income in fiscal year 2025. This represents an increase of 54.6% from the prior year.
Plexus Corp earned $6.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 56.1% from the prior year.
Cash & Balance Sheet
Plexus Corp generated $154.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 54.9% from the prior year.
Plexus Corp held $306.5M in cash against $0 in long-term debt as of fiscal year 2025.
Plexus Corp had 27M shares outstanding in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Margins & Returns
Plexus Corp's gross margin was 10.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.
Plexus Corp's operating margin was 5.0% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.
Plexus Corp's net profit margin was 4.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.
Plexus Corp's ROE was 11.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the prior year.
Capital Allocation
Plexus Corp spent $65.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 17.3% from the prior year.
Plexus Corp invested $95.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.1% from the prior year.
PLXS Income Statement
| Metric | Q3'26 | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+8.8% | $1.1B+1.1% | $1.1B+3.9% | $1.0B+3.9% | $980.2M+0.4% | $976.1M-7.1% | $1.1B+9.3% | $960.8M |
| Cost of Revenue | $1.0B+8.4% | $963.7M+1.1% | $953.6M+4.2% | $915.0M+3.7% | $882.4M+0.8% | $875.4M-7.1% | $942.7M+8.8% | $866.3M |
| Gross Profit | $119.2M+12.3% | $106.1M+1.3% | $104.8M+1.4% | $103.3M+5.7% | $97.8M-2.9% | $100.7M-6.7% | $107.9M+14.3% | $94.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $57.3M+11.0% | $51.7M0.0% | $51.7M+4.0% | $49.7M+1.5% | $49.0M-0.4% | $49.1M-9.1% | $54.1M+17.6% | $46.0M |
| Operating Income | $61.8M+13.5% | $54.5M+2.5% | $53.1M-0.9% | $53.6M+9.9% | $48.8M+4.1% | $46.9M-13.0% | $53.9M+37.2% | $39.2M |
| Interest Expense | $3.4M+18.5% | $2.9M+19.7% | $2.4M-3.5% | $2.5M-20.3% | $3.1M-11.7% | $3.6M-36.3% | $5.6M-24.5% | $7.4M |
| Income Tax | $8.1M-18.1% | $9.8M+658.4% | -$1.8M-137.4% | $4.7M-20.7% | $6.0M-4.4% | $6.2M+48.5% | $4.2M-18.8% | $5.2M |
| Net Income | $49.8M+20.9% | $41.2M-19.9% | $51.4M+14.0% | $45.1M+15.5% | $39.1M+4.8% | $37.3M-9.6% | $41.2M+64.0% | $25.1M |
| EPS (Diluted) | $1.82+20.5% | $1.51 | N/A | $1.64+16.3% | $1.41+5.2% | $1.34 | N/A | $0.91 |
PLXS Balance Sheet
| Metric | Q3'26 | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.4B+5.5% | $3.2B+1.6% | $3.1B+1.0% | $3.1B+0.6% | $3.1B+0.5% | $3.1B-2.6% | $3.2B-0.5% | $3.2B |
| Current Assets | $2.6B+7.4% | $2.5B+2.4% | $2.4B+0.2% | $2.4B-0.1% | $2.4B+0.4% | $2.4B-3.6% | $2.5B-2.5% | $2.5B |
| Cash & Equivalents | $303.1M+21.8% | $248.8M-18.8% | $306.5M+29.0% | $237.6M-23.5% | $310.5M-2.1% | $317.2M-8.1% | $345.1M+27.9% | $269.9M |
| Inventory | $1.4B+5.2% | $1.3B+6.1% | $1.2B-3.8% | $1.3B-0.2% | $1.3B-0.8% | $1.3B-1.6% | $1.3B-8.6% | $1.4B |
| Accounts Receivable | $702.3M+3.3% | $679.7M+3.5% | $656.6M-1.1% | $663.5M+8.9% | $609.5M+2.0% | $597.5M-4.0% | $622.4M-3.3% | $643.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.9B+9.8% | $1.7B+1.3% | $1.7B-0.2% | $1.7B-2.7% | $1.7B-1.0% | $1.8B-4.2% | $1.8B-4.0% | $1.9B |
| Current Liabilities | $1.7B+10.9% | $1.5B+1.6% | $1.5B+0.1% | $1.5B-3.2% | $1.6B0.0% | $1.6B-4.7% | $1.6B-4.7% | $1.7B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.5B+0.6% | $1.5B+1.8% | $1.5B+2.5% | $1.4B+5.0% | $1.4B+2.5% | $1.3B-0.4% | $1.3B+4.6% | $1.3B |
| Retained Earnings | $2.1B+2.4% | $2.0B+2.1% | $2.0B+2.6% | $1.9B+2.4% | $1.9B+2.1% | $1.9B+2.0% | $1.8B+2.3% | $1.8B |
PLXS Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $28.5M+285.0% | -$15.4M-111.7% | $132.0M+391.1% | $26.9M-26.7% | $36.7M-31.6% | $53.6M-75.6% | $220.1M+67.3% | $131.6M |
| Capital Expenditures | $12.5M-64.6% | $35.2M+1.1% | $34.8M+153.9% | $13.7M-32.1% | $20.2M-23.9% | $26.5M+0.8% | $26.3M+51.6% | $17.4M |
| Free Cash Flow | $16.0M+131.6% | -$50.6M-152.0% | $97.2M+638.1% | $13.2M-20.2% | $16.5M-39.2% | $27.1M-86.0% | $193.8M+69.7% | $114.2M |
| Investing Cash Flow | -$12.5M+64.3% | -$35.1M-1.1% | -$34.8M-146.5% | -$14.1M+30.5% | -$20.3M+23.4% | -$26.5M-1.1% | -$26.2M-49.2% | -$17.6M |
| Financing Cash Flow | $37.8M+572.8% | -$8.0M+71.6% | -$28.1M+68.8% | -$90.2M-256.0% | -$25.3M+52.0% | -$52.8M+56.5% | -$121.3M-11.6% | -$108.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $21.0M-6.0% | $22.4M+4.0% | $21.5M+16.7% | $18.4M+47.0% | $12.5M-2.2% | $12.8M-34.4% | $19.5M+5.2% | $18.6M |
PLXS Financial Ratios
| Metric | Q3'26 | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.2%+0.3pp | 9.9%+0.0pp | 9.9%-0.2pp | 10.1%+0.2pp | 10.0%-0.4pp | 10.3%+0.1pp | 10.3%+0.4pp | 9.8% |
| Operating Margin | 5.3%+0.2pp | 5.1%+0.1pp | 5.0%-0.2pp | 5.3%+0.3pp | 5.0%+0.2pp | 4.8%-0.3pp | 5.1%+1.0pp | 4.1% |
| Net Margin | 4.3%+0.4pp | 3.9%-1.0pp | 4.9%+0.4pp | 4.4%+0.4pp | 4.0%+0.2pp | 3.8%-0.1pp | 3.9%+1.3pp | 2.6% |
| Return on Equity | 3.3%+0.6pp | 2.8%-0.8pp | 3.5%+0.4pp | 3.2%+0.3pp | 2.9%+0.1pp | 2.8%-0.3pp | 3.1%+1.1pp | 2.0% |
| Return on Assets | 1.5%+0.2pp | 1.3%-0.4pp | 1.6%+0.2pp | 1.5%+0.2pp | 1.3%+0.1pp | 1.2%-0.1pp | 1.3%+0.5pp | 0.8% |
| Current Ratio | 1.54-0.1 | 1.59+0.0 | 1.580.0 | 1.58+0.0 | 1.530.0 | 1.53+0.0 | 1.51+0.0 | 1.47 |
| Debt-to-Equity | 1.26+0.1 | 1.150.0 | 1.16-0.0 | 1.19-0.1 | 1.28-0.0 | 1.33-0.1 | 1.38-0.1 | 1.50 |
| FCF Margin | 1.4%+6.1pp | -4.7%-13.9pp | 9.2%+7.9pp | 1.3%-0.4pp | 1.7%-1.1pp | 2.8%-15.7pp | 18.4%+6.6pp | 11.9% |
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Frequently Asked Questions
What is Plexus Corp's annual revenue?
Plexus Corp (PLXS) reported $4.0B in total revenue for fiscal year 2025. This represents a 1.8% 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 Plexus Corp's revenue growing?
Plexus Corp (PLXS) revenue grew by 1.8% year-over-year, from $4.0B to $4.0B in fiscal year 2025.
Is Plexus Corp profitable?
Yes, Plexus Corp (PLXS) reported a net income of $172.9M in fiscal year 2025, with a net profit margin of 4.3%.
What is Plexus Corp's EBITDA?
Plexus Corp (PLXS) had EBITDA of $280.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Plexus Corp's gross margin?
Plexus Corp (PLXS) had a gross margin of 10.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Plexus Corp's operating margin?
Plexus Corp (PLXS) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Plexus Corp's net profit margin?
Plexus Corp (PLXS) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Plexus Corp's return on equity (ROE)?
Plexus Corp (PLXS) has a return on equity of 11.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Plexus Corp's free cash flow?
Plexus Corp (PLXS) generated $154.0M in free cash flow during fiscal year 2025. This represents a -54.9% 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 Plexus Corp's operating cash flow?
Plexus Corp (PLXS) generated $249.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Plexus Corp's total assets?
Plexus Corp (PLXS) had $3.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Plexus Corp's capital expenditures?
Plexus Corp (PLXS) invested $95.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Plexus Corp's current ratio?
Plexus Corp (PLXS) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.
What is Plexus Corp's debt-to-equity ratio?
Plexus Corp (PLXS) had a debt-to-equity ratio of 1.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Plexus Corp's return on assets (ROA)?
Plexus Corp (PLXS) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Plexus Corp's Altman Z-Score?
Plexus Corp (PLXS) has an Altman Z-Score of 5.15, 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 Plexus Corp's Piotroski F-Score?
Plexus Corp (PLXS) has a Piotroski F-Score of 8 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 Plexus Corp's earnings high quality?
Plexus Corp (PLXS) has an earnings quality ratio of 1.44x, considered cash-backed (high 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.
Can Plexus Corp cover its interest payments?
Plexus Corp (PLXS) has an interest coverage ratio of 17.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Plexus Corp?
Plexus Corp (PLXS) scores 51 out of 100 on our Financial Health Score, indicating moderate 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.