Celestica
CLS · NYSEPrinted Circuit Boards · Fiscal year ends Dec 31
Celestica reported revenue of $12.4B in the fiscal year ended Dec 2025, up 28.5% from the year before. Operating income was $1B, an operating margin of 8.4%, and net income was $833M. Operating cash flow of $660M less capital expenditure of $201M left free cash flow of $458M. Net debt was $155M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | $7.3B | $8B | $9.6B | $12.4B |
| Cost of revenue | $6.6B | $7.2B | $8.6B | $10.9B |
| Gross profit | $650M | $754M | $1B | $1.5B |
| Research & development | $46M | $61M | $78M | $118M |
| Selling, general & admin | $267M | $303M | $294M | $260M |
| Operating income | $289M | $338M | $599M | $1B |
| Interest expense | $52M | $79M | $52M | $53M |
| Pre-tax income | $239M | $306M | $532M | $983M |
| Income tax | $59M | $62M | $104M | $151M |
| Net income | $180M | $244M | $428M | $833M |
| Diluted EPS | 1.46 | 2.03 | 3.61 | 7.16 |
| Diluted shares | 124M | 120M | 119M | 116M |
Balance sheet
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Cash & equivalents | $375M | $370M | $423M | $596M |
| Inventory | – | $2.1B | $1.8B | $2.2B |
| Current assets | – | $4.5B | $4.5B | $5.7B |
| Goodwill | $322M | $322M | $341M | $333M |
| Total assets | – | $5.9B | $6B | $7.2B |
| Payables | – | $1.3B | $1.3B | $1.9B |
| Deferred revenue | – | $905M | $512M | $407M |
| Current liabilities | – | $3.2B | $3B | $3.9B |
| Long-term debt | – | $648M | $770M | $751M |
| Total liabilities | – | $4.1B | $4.1B | $5B |
| Shareholders' equity | $1.7B | $1.8B | $1.9B | $2.2B |
Cash flow
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Operating cash flow | $211M | $326M | $474M | $660M |
| Capital expenditure | $109M | $125M | $171M | $201M |
| Free cash flow | $102M | $201M | $303M | $458M |
| Depreciation & amortisation | $116M | $131M | $152M | $176M |
| Stock-based compensation | $51M | $56M | $57M | $70M |
| Acquisitions | $0 | $0 | $36M | $0 |
| Share buybacks | $35M | $36M | $152M | $153M |
Key ratios
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.8% | 21.2% | 28.5% |
| Operating income growth (YoY) | – | 16.9% | 77.2% | 73.7% |
| EPS growth (YoY) | – | 39.0% | 77.8% | 98.3% |
| Gross margin | 9.0% | 9.5% | 10.7% | 12.1% |
| Operating margin | 4.0% | 4.2% | 6.2% | 8.4% |
| Net margin | 2.5% | 3.1% | 4.4% | 6.7% |
| Return on equityBlank when equity is negative | 10.7% | 13.8% | 22.6% | 37.6% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 12.7% | 20.2% | 31.8% |
| Free cash flow margin | 1.4% | 2.5% | 3.1% | 3.7% |
| Cash conversion (CFO ÷ net income) | 1.17x | 1.33x | 1.11x | 0.79x |
| Inventory days | – | 107 | 75 | 73 |
| Payable days | – | 66 | 55 | 63 |
| Interest cover | 5.60x | 4.29x | 11.5x | 19.8x |
| Debt ÷ equity | – | 0.37x | 0.41x | 0.34x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $278M | $347M | $155M |
| Current ratio | – | 1.40x | 1.49x | 1.44x |
Recent filings
More in Printed Circuit Boards
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.