Filing Flows › Comparisons › FLEX vs CLS
Flex vs Celestica: FLEX and CLS compared
Flex is the larger company: $8.5B of revenue in its latest quarter (Q2 FY27) against $5.8B for Celestica (Q3 2026). Celestica is growing faster (+82% against +25% a year earlier). Celestica is more profitable, with an operating margin of 7.9% against 4.9%.
Where the money goes: FLEX and CLS
Flex (FLEX) · Q2 FY27
Flex, Q2 FY27: revenue $8.5B (+25% year over year), operating margin 4.9%, net earnings $263M, operating cash flow $501M. The chart follows the revenue to costs, profit and cash.
Celestica (CLS) · Q3 2026
Celestica, Q3 2026: revenue $5.8B (+82% year over year), operating margin 7.9%, net earnings $397M, operating cash flow $390M. The chart follows the revenue to costs, profit and cash.
| Flex (FLEX) | Celestica (CLS) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $8.5B | $5.8B |
| Revenue growth, Y/Y | +25% | +82% |
| Gross margin | 9.6% | 11.0% |
| Operating margin | 4.9% | 7.9% |
| Net earnings | $263M | $397M |
| Net margin | 3.1% | 6.8% |
| Operating cash flow | $501M | $390M |
| Free cash flow | $261M | $116M |
| Market value | $25.0B | $25.0B |
| P/E | 24.1× | 19.5× |
| Analysts’ mean target | $156.50 | $464.78 |
Where the revenue comes from
Flex
- ITS: $3.3B (39%)
- RMS: $2.7B (32%)
- CPI: $2.5B (30%)
Celestica
- CCS: $4.9B (84%)
- ATS: $957M (16%)
Questions
Which is bigger, Flex or Celestica?
Flex is the larger company: $8.5B of revenue in its latest quarter (Q2 FY27) against $5.8B for Celestica (Q3 2026).
Is Flex or Celestica growing faster?
Celestica is growing faster (+82% against +25% a year earlier).
Which is more profitable, Flex or Celestica?
Celestica is more profitable, with an operating margin of 7.9% against 4.9%.
More: Flex earnings · how Flex makes money · Celestica earnings · how Celestica makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Oct 26, 2026). Fiscal quarters can end on different dates. Not investment advice.