Filing Flows › Flex (FLEX) › Q2 FY27 › vs Q2 FY26
Flex (FLEX) Q2 FY27 vs Q2 FY26 (year over year)
Flex's revenue rose $1.7B (+25%) from $6.8B in Q2 FY26 to $8.5B in Q2 FY27. The biggest changes: CPI +$878M (+54%); ITS +$586M (+22%); RMS +$223M (+9%). Gross margin 9.6% against 9.0% (+0.5 pts).
Flex, Q2 FY27: revenue $8.5B (+25% year over year), operating margin 4.9%, net earnings $263M, operating cash flow $501M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 9.6% | 9.0% | +0.5 pts |
| Operating margin | 4.9% | 4.4% | +0.5 pts |
| Net margin | 3.1% | 2.9% | +0.2 pts |
| Free cash flow margin | 3.1% | 4.5% | -1.4 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| ITS | $3.3B | $2.7B | $586M | +22% |
| RMS | $2.7B | $2.5B | $223M | +9% |
| CPI | $2.5B | $1.6B | $878M | +54% |
| Revenue | $8.5B | $6.8B | $1.7B | +25% |
| Gross profit | $812M | $614M | $198M | +32% |
| Cost of revenue | $7.7B | $6.2B | $1.5B | +24% |
| Operating profit | $414M | $296M | $118M | +40% |
| Operating expenses | $398M | $318M | $80.0M | +25% |
| Pre-tax earnings | $370M | $262M | $108M | +41% |
| Other expense, net | $44.0M | $34.0M | $10.0M | +29% |
| SG&A | $371M | $260M | $111M | +43% |
| Other operating costs | $27.0M | $58.0M | −$31.0M | -53% |
| Net earnings | $263M | $199M | $64.0M | +32% |
| Income tax | $107M | $63.0M | $44.0M | +70% |
| Depreciation & amortization | $156M | $156M | $0 | 0% |
| Share-based compensation | $43.0M | $37.0M | $6.0M | +16% |
| Working capital & other | $39.0M | $61.0M | −$22.0M | -36% |
| Operating cash flow | $501M | $453M | $48.0M | +11% |
| Free Cash Flow (company-reported) | $261M | $305M | −$44.0M | -14% |
| Purchases of property and equipment, net | $240M | $148M | $92.0M | +62% |
Questions
How much did Flex's revenue grow year over year in Q2 FY27?
Flex's revenue rose $1.7B (+25%) from $6.8B in Q2 FY26 to $8.5B in Q2 FY27.
What drove Flex's revenue change in Q2 FY27?
CPI +$878M (+54%); ITS +$586M (+22%); RMS +$223M (+9%).