Filing Flows › Flex (FLEX) › Q1 FY27 › vs Q1 FY26
Flex (FLEX) Q1 FY27 vs Q1 FY26 (year over year)
Flex's revenue rose $1.4B (+21%) from $6.6B in Q1 FY26 to $7.9B in Q1 FY27. The biggest changes: CPI +$576M (+35%); ITS +$498M (+19%); RMS +$279M (+12%). Gross margin 9.4% against 8.7% (+0.7 pts).
Flex, Q1 FY27: revenue $7.9B (+21% year over year), operating margin 4.9%, net earnings $285M, operating cash flow $276M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 9.4% | 8.7% | +0.7 pts |
| Operating margin | 4.9% | 4.7% | +0.2 pts |
| Net margin | 3.6% | 2.9% | +0.7 pts |
| Free cash flow margin | 0.5% | 4.1% | -3.6 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| ITS | $3.1B | $2.6B | $498M | +19% |
| RMS | $2.7B | $2.4B | $279M | +12% |
| CPI | $2.2B | $1.6B | $576M | +35% |
| Revenue | $7.9B | $6.6B | $1.4B | +21% |
| Gross profit | $747M | $572M | $175M | +31% |
| Cost of revenue | $7.2B | $6.0B | $1.2B | +20% |
| Operating profit | $392M | $311M | $81.0M | +26% |
| Operating expenses | $355M | $261M | $94.0M | +36% |
| Pre-tax earnings | $377M | $246M | $131M | +53% |
| SG&A | $334M | $233M | $101M | +43% |
| Other operating costs | $21.0M | $28.0M | −$7.0M | -25% |
| Net earnings | $285M | $192M | $93.0M | +48% |
| Income tax | $92.0M | $54.0M | $38.0M | +70% |
| Depreciation & amortization | $140M | $142M | −$2.0M | -1% |
| Share-based compensation | $51.0M | $34.0M | $17.0M | +50% |
| Working capital & other | $200M | −$31.0M | $231M | — |
| Operating cash flow | $276M | $399M | −$123M | -31% |
| Free Cash Flow (company-reported) | $41.0M | $268M | −$227M | -85% |
| Purchases of property and equipment, net | $235M | $131M | $104M | +79% |
Questions
How much did Flex's revenue grow year over year in Q1 FY27?
Flex's revenue rose $1.4B (+21%) from $6.6B in Q1 FY26 to $7.9B in Q1 FY27.
What drove Flex's revenue change in Q1 FY27?
CPI +$576M (+35%); ITS +$498M (+19%); RMS +$279M (+12%).