Skip to content
StockMarketAgent
Direct answer
FLEX trades against a final fair-value range of $65.15-$128.29, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs. Fair value range: low $65.2, high $128, with mid-point at $94.8.
Stock analysis

FLEX fair value $65–$128

By StockMarketAgent.AI team· supervised by
已分析: 2026-05-20下次更新: 2026-08-20Methodology v2.4Data cut-off: Quality gate: passSources: all material sources passed deterministic freshness/provenance gatesReview: automatedArchetype: Mature compounder
View archive
股价
$131.52
▼ -36.74 (-27.93%)
公允价值
$95
$65–$128
评级
卖出
confidence 82/100
上行空间
-27.9%
upside to fair value
安全边际
$80.56
MoS level · 15%
市值
$48.4B
P/E fwd 19.4
英文原文ZH
翻译期间显示英文原文
此报告尚未翻译。翻译队列赶上后请在几分钟内刷新。

§1 执行摘要

  • Composite fair value $95 with high case $128.
  • Implied downside of 27.9% to fair value.
  • Moat 6.5/10 · confidence 82/100 · Mature compounder.
  • Currently screens above fair value, so patience matters more than entry speed.
Fair value
$95
Margin of safety
-38.8%
Confidence
82/100
Moat
6.5/10

Educational research only - not investment advice, an offer, or a trade instruction. Confirm current data and do your own due diligence before acting.

$131.52Price
Low $65.15
Mid $94.78
High $128.29

FLEX trades against a final fair-value range of $65.15-$128.29, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs.

  • Switching costs in complex manufacturing
    Switching costs in complex manufacturing
  • Scale within electronics manufacturing services
    Scale within electronics manufacturing services (EMS)
  • Cycle upside
    Accelerated growth from AI infrastructure and data center demand driving multi-year margin expansion.

§2 看空情景

Fading the elevated near-term returns over a five-year period to explicitly account for legacy cyclical hardware risks and broader macro volatilityVolatilityVolatility is a price, risk, or intrinsic-value metric used to compare market price with estimated value or historical return behavior. It should be read as one input in a broader valuation range..

该论点可能失败的方式

Macro Cyclical Downturn

· Medium

Macroeconomic slowdown and cyclical downturn in consumer devices heavily offset growth in industrial and AI solutions.

FV impact
$65.15
Trigger
12-24 months

Margin Compression

· Low

Severe margin compression from input cost inflation and supply chain disruptions causing operating margins to contract below 5.5%.

FV impact
$80.00
Trigger
6-12 months

AI Demand Fade

· Low

AI infrastructure super-cycle demand fades prematurely before legacy business units can fundamentally recover.

FV impact
$75.00
Trigger
18-36 months
需关注的早期预警信号
指标当前触发阈值
Next twelve months (NTM) forward EPS revisions trending downward or falling below $6.50.MonitorDeterioration versus the report thesis
Operating margins contracting below 5.5% over the next 4 quarters.MonitorDeterioration versus the report thesis
Significant deceleration in data center and cloud infrastructure segment growth.MonitorDeterioration versus the report thesis
Free cash flow conversion dropping below historical baselines (OCF to Net Income < 1.0x).MonitorDeterioration versus the report thesis
Increase in inventory days signaling supply chain bottlenecks or demand weakness.MonitorDeterioration versus the report thesis

§3 财务历史

损益表 — 最近六期
项目T−0T−1T−2T−3CAGR
期间2022-03-312023-03-312024-03-312025-03-31Trend
营业收入$24.63B$28.50B$26.42B$25.81B+1.6%
毛利$1.78B$1.98B$1.87B$2.16B+6.6%
营业利润$890.0M$1.02B$873.0M$1.19B+10.0%
净利润$936.0M$793.0M$1.01B$838.0M-3.6%
每股收益（摊薄）$1.94$1.72$2.28$2.11+2.8%
EBITDA$1.61B$1.54B$1.41B$1.78B+3.3%
研发—————
销售管理费用$830.0M$874.0M$922.0M$904.0M+2.9%

质量评分

OCF / 净利润
1.8×
>1 表示盈利质量高
会计质量门槛
Fail
经行业调整门槛
ROIC
10.7%
投入资本回报率
第 3 节

Numbers analysis

现金流

Cash-flow quality is reflected in the OCFOperating cash flowCash generated from the company's core operations after working-capital changes but before capital expenditures. The first line of the cash-flow statement. / net incomeNet IncomeNet Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net income, or per-share earnings. It should be compared across periods and against peer disclosure conventions., accounting-quality, and ROICROICReturn on invested capital. Operating profit (after tax) divided by invested capital. The single best gauge of capital-efficiency. Spread over WACC = economic value created. rows above.

资本配置

Capital allocation should be evaluated against reinvestment needs, balance-sheet strength, and shareholder returns.

个人订阅用户 — §4 及之后还有 11 个章节

阅读完整分析 — 还有 11 个章节。

Competitive moat, industry cycle, peer comparison, intrinsic valuation, sensitivity, scenarios, earnings decision tree, position management, investor perspectives, scorecard, and final recommendation.

涵盖每个股票的完整报告
24 个月的评级存档
关注列表简报 + 评级变更提醒
以任意语言导出 PDF + DOCX
开始免费试用
可随时取消。
REVERSE DCF FAQ

FLEX reverse dcf questions

  1. Reverse DCF for FLEX (FLEX) backs out the revenue or earnings growth rate the current share price implies, holding terminal value, margin, and discount-rate assumptions constant.

FAQ

FLEX — frequently asked questions

  1. Based on our latest analysis, FLEX looks meaningfully overvalued. The current price is $132 versus a composite fair-value midpoint of $94.8 (range $65.2–$128), which implies roughly 27.9% downside to the midpoint.

Related coverage

Names readers of FLEX also follow

Same archetype: mature-compounder