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Electronic components · Technology · Fiscal year ends Oct 3
Plexus reported revenue of $4B in the fiscal year ended Sep 2025, up 1.8% from the year before. Operating income was $202M, an operating margin of 5.0%, and net income was $173M. Operating cash flow of $249M less capital expenditure of $95M left free cash flow of $154M.
Ranks among the 18 electronic components companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 3,481 | 3,928 | 4,210 | 3,961 | 4,033 |
| Cost of revenue | 3,046 | 3,464 | 3,816 | 3,582 | 3,626 |
| Gross profit | 323 | 347 | 395 | 379 | 407 |
| Selling, general & admin | 144 | 167 | 176 | 191 | 199 |
| Operating income | 176 | 178 | 196 | 168 | 202 |
| Interest expense | 14.3 | 15.9 | 31.5 | 28.9 | 11.6 |
| Pre-tax income | 160 | 158 | 161 | 130 | 188 |
| Income tax | 21.5 | 20.1 | 21.9 | 17.7 | 15.1 |
| Net income | 139 | 138 | 139 | 112 | 173 |
| Diluted EPS | 4.76 | 4.86 | 4.95 | 4.01 | 6.26 |
| Diluted shares | 29.2 | 28.4 | 28.1 | 27.9 | 27.6 |
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 270 | 275 | 256 | 345 | 306 |
| Receivables | 520 | 738 | 662 | 622 | 657 |
| Inventory | 972 | 1,603 | 1,562 | 1,311 | 1,230 |
| Current assets | 1,931 | 2,816 | 2,672 | 2,477 | 2,399 |
| Net PP&E | 395 | 445 | 492 | 501 | 546 |
| Total assets | 2,462 | 3,393 | 3,321 | 3,154 | 3,137 |
| Payables | 635 | 806 | 647 | 606 | 727 |
| Deferred revenue | 101 | 779 | 760 | 709 | 576 |
| Current liabilities | 1,129 | 2,006 | 1,813 | 1,643 | 1,519 |
| Total liabilities | 1,434 | 2,297 | 2,107 | 1,829 | 1,683 |
| Shareholders' equity | 1,028 | 1,096 | 1,214 | 1,325 | 1,455 |
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 143 | −26.2 | 166 | 437 | 249 |
| Capital expenditure | 57.1 | 102 | 104 | 95.2 | 95.3 |
| Free cash flow | 85.5 | −128 | 61.8 | 341 | 154 |
| Depreciation & amortisation | 61.0 | 62.7 | 69.8 | 77.8 | 77.8 |
| Stock-based compensation | 24.8 | 23.3 | 21.3 | 30.3 | 30.3 |
| Share buybacks | 108 | 50.4 | 40.9 | 55.7 | 65.3 |
| Fiscal year | Oct 2021 | Oct 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.8% | 7.2% | −5.9% | 1.8% |
| Operating income growth (YoY) | – | 1.1% | 9.9% | −14.3% | 20.7% |
| EPS growth (YoY) | – | 2.1% | 1.9% | −19.0% | 56.1% |
| Gross margin | 9.3% | 8.8% | 9.4% | 9.6% | 10.1% |
| Operating margin | 5.1% | 4.5% | 4.7% | 4.2% | 5.0% |
| Net margin | 4.0% | 3.5% | 3.3% | 2.8% | 4.3% |
| Return on equityBlank when equity is negative | 13.5% | 12.6% | 11.5% | 8.4% | 11.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 13.2% | 12.8% | 13.0% | 11.1% | 12.5% |
| Free cash flow margin | 2.5% | −3.3% | 1.5% | 8.6% | 3.8% |
| Cash conversion (CFO ÷ net income) | 1.03x | −0.19x | 1.19x | 3.90x | 1.44x |
| Receivable days | 54 | 69 | 57 | 57 | 59 |
| Inventory days | 117 | 169 | 149 | 134 | 124 |
| Payable days | 76 | 85 | 62 | 62 | 73 |
| Interest cover | 12.4x | 11.2x | 6.21x | 5.81x | 17.4x |
| Current ratio | 1.71x | 1.40x | 1.47x | 1.51x | 1.58x |
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.