Plexus Corp

Latest Results (21.11.2025):

Plexus Corp. reported results for its fiscal fourth quarter of fiscal 2025: revenue of $1.058 billion, GAAP diluted EPS of $1.87 and GAAP operating margin of 5.0%. For the full fiscal year 2025, Plexus reported revenue of $4.033 billion and GAAP diluted EPS of $6.26, with stronger non‑GAAP metrics and guidance for the fiscal first quarter of 2026.

Quarter financials

Q4 FY2025 revenue $1.058B; GAAP operating margin 5.0%; GAAP diluted EPS $1.87. Non‑GAAP adjusted operating margin was 5.8% and non‑GAAP diluted EPS was $2.14 (excluding $0.27 of stock‑based comp.).

Full‑year performance

Fiscal 2025 revenue $4.033B, GAAP operating margin 5.0% and GAAP diluted EPS $6.26. Fiscal 2025 non‑GAAP diluted EPS was $7.43 (excluding $1.02 of stock‑based comp. and $0.15 of restructuring/other).

Quarter and FY cash generation

Generated free cash flow of $97M in Q4 and $154M for fiscal 2025. Company ended the year in a net cash position after reducing borrowings.

Capital returns

Purchased $21.5M of shares in Q4 at an average $134.07; $65.0M repurchased in fiscal 2025 at an average $136.80. Under the $100M repurchase authorization, $85.0M remained available at quarter end.

Guidance for Q1 FY2026

Guides Q1 FY2026 revenue $1.050B–$1.090B. GAAP diluted EPS guidance $1.40–$1.55 (includes $0.26 stock‑based comp.); non‑GAAP EPS $1.66–$1.81 (ex‑SBC). Non‑GAAP operating margin guided to 5.6%–6.0%.

Operational highlights & wins

Won 28 manufacturing programs in Q4 representing $274M of annualized revenue when fully ramped; full‑year wins were 141 programs representing $941M of annualized revenue. Top 10 customers were 49% of Q4 revenue.

Efficiency and returns

Reported ROIC of 14.6% for FY2025 (economic return 5.7% above WACC of 8.9%). Inventory down $82M vs. prior year and cash cycle improved to 63 days — the best in five years.

ESG & community

Plexus highlighted social and environmental progress in FY2025: >32,000 paid volunteer hours (up 47% YoY), $1.4M donated to nonprofits, >30% reduction in waste to landfill and >10% reduction in Scope 1 & 2 emissions versus FY2023 baseline.