Plexus Corp

PLXS

Equity

ISIN null / Valor 963299

NASDAQ (2026-05-05)

USD 265.11+0.98%

Plexus Corp
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About company

Plexus Corporation is a contract electronics manufacturer that designs, builds and supports complex electronic products for original equipment manufacturers, offering services across product realization, engineering, manufacturing, test, supply-chain management and aftermarket support. Headquartered in Neenah, Wisconsin, Plexus operates a global network of manufacturing facilities and serves regulated and technology-driven markets such as medical devices, industrial and commercial equipment, communications and enterprise computing, and defense and aerospace. The company positions itself as a partner to OEMs needing end-to-end production and lifecycle services for electronics-intensive products, from early-stage engineering through repair and service.

Summarized from source with an LLMView SourceSector: Technology

Top-line and GAAP profit

Q4 FY2025 revenue was $1.058 billion; GAAP operating margin was 5.0% and GAAP diluted EPS was $1.87. For the full fiscal year 2025, revenue was $4.033 billion with GAAP diluted EPS of $6.26.

Non‑GAAP performance

Q4 non‑GAAP operating margin was 5.8% and adjusted diluted EPS was $2.14 (excludes $0.27 of stock‑based compensation). FY2025 non‑GAAP EPS was $7.43, excluding $1.02 of stock‑based compensation and $0.15 of restructuring/other charges.

Guidance for Q1 FY2026

Plexus initiated fiscal Q1 2026 guidance: revenue $1.050–$1.090 billion; GAAP diluted EPS $1.40–$1.55 (includes ~$0.26 stock‑based comp); non‑GAAP EPS $1.66–$1.81 and non‑GAAP operating margin 5.6%–6.0%.

Cash flow, buybacks and balance sheet

Q4 free cash flow was $97.2 million; FY2025 free cash flow was $154.0 million. During Q4 Plexus repurchased $21.5 million of shares (avg $134.07); FY purchases totaled $65.0 million (avg $136.80). Under a $100.0 million authorization, $85.0 million remained available and the company ended the year in a net cash position.

Returns and capital efficiency

Fiscal 2025 ROIC was 14.6% with an economic return of 5.7% above a weighted average cost of capital of 8.9%.

Operational highlights and wins

Q4 generated 28 manufacturing program wins representing $274 million in annualized revenue; for fiscal 2025 there were 141 wins totaling $941 million in annualized revenue. Management cited continued ramp activity and share gains supporting revenue growth above end‑market growth.

Working capital and cash cycle

Annualized cash cycle improved to 63 days in Q4 (best in five years), with days in inventory at 118 and gross inventory down $82 million versus fiscal 2024, reflecting ongoing working‑capital progress.

Customer, regional and market mix

Top 10 customers accounted for 49% of Q4 revenue. By region Q4 revenue split roughly APAC $605M, Americas $336M, EMEA $119M. By market sector Q4 mix was ~44% Industrial, 40% Healthcare/Life Sciences, and 16% Aerospace/Defense.

Summarized from source with an LLMView Source

Key figures

111%1Y

209%3Y

187%5Y

Performance

40.2%1Y

33.1%3Y

32.1%5Y

Volatility