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Plexus Corp Financials

PLXS
Source SEC Filings (10-K/10-Q) Updated Jan 3, 2026 Currency USD FYE September

This page shows Plexus Corp (PLXS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 41 / 100
Financial Profile 41/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
33

Plexus Corp has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 4.2% the prior year.

Growth
36

Plexus Corp's revenue grew a modest 1.8% year-over-year to $4.0B. This slow but positive growth earns a score of 36/100.

Leverage
78

Plexus Corp carries a low D/E ratio of 1.16, meaning only $1.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
27

Plexus Corp's current ratio of 1.58 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.

Cash Flow
35

Plexus Corp has a free cash flow margin of 3.8%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
38

Plexus Corp's ROE of 11.9% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 8.4% the prior year.

Altman Z-Score Safe
4.86

Plexus Corp scores 4.86, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
8/9

Plexus Corp passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.44x

For every $1 of reported earnings, Plexus Corp generates $1.44 in operating cash flow ($249.2M OCF vs $172.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
17.4x

Plexus Corp earns $17.4 in operating income for every $1 of interest expense ($202.4M vs $11.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.0B
YoY+1.8%
5Y CAGR+2.9%
10Y CAGR+4.3%

Plexus Corp generated $4.0B in revenue in fiscal year 2025. This represents an increase of 1.8% from the prior year.

EBITDA
$280.2M
YoY+14.1%
5Y CAGR+5.9%
10Y CAGR+5.5%

Plexus Corp's EBITDA was $280.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.1% from the prior year.

Net Income
$172.9M
YoY+54.6%
5Y CAGR+8.0%
10Y CAGR+6.2%

Plexus Corp reported $172.9M in net income in fiscal year 2025. This represents an increase of 54.6% from the prior year.

EPS (Diluted)
$6.26
YoY+56.1%
5Y CAGR+9.8%
10Y CAGR+8.6%

Plexus Corp earned $6.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 56.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$154.0M
YoY-54.9%
5Y CAGR-0.8%
10Y CAGR+14.0%

Plexus Corp generated $154.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 54.9% from the prior year.

Cash & Debt
$306.5M
YoY-11.2%
5Y CAGR-3.0%
10Y CAGR-1.5%

Plexus Corp held $306.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
27M
YoY-1.2%
5Y CAGR-1.5%
10Y CAGR-2.2%

Plexus Corp had 27M shares outstanding in fiscal year 2025. This represents a decrease of 1.2% from the prior year.

Margins & Returns

Gross Margin
10.1%
YoY+0.5pp
5Y CAGR+1.1pp
10Y CAGR+1.0pp

Plexus Corp's gross margin was 10.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin
5.0%
YoY+0.8pp
5Y CAGR+0.6pp
10Y CAGR+0.7pp

Plexus Corp's operating margin was 5.0% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.

Net Margin
4.3%
YoY+1.5pp
5Y CAGR+0.9pp
10Y CAGR+0.7pp

Plexus Corp's net profit margin was 4.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.

Return on Equity
11.9%
YoY+3.5pp
5Y CAGR+0.2pp
10Y CAGR+0.8pp

Plexus Corp's ROE was 11.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$65.3M
YoY+17.3%
5Y CAGR+9.6%
10Y CAGR+8.1%

Plexus Corp spent $65.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 17.3% from the prior year.

Capital Expenditures
$95.3M
YoY+0.1%
5Y CAGR+13.7%
10Y CAGR+10.5%

Plexus Corp invested $95.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.1% from the prior year.

PLXS Income Statement

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $1.1B+1.1% $1.1B+3.9% $1.0B+3.9% $980.2M+0.4% $976.1M-7.1% $1.1B+9.3% $960.8M-0.6% $966.9M
Cost of Revenue $963.7M+1.1% $953.6M+4.2% $915.0M+3.7% $882.4M+0.8% $875.4M-7.1% $942.7M+8.8% $866.3M-1.4% $878.8M
Gross Profit $106.1M+1.3% $104.8M+1.4% $103.3M+5.7% $97.8M-2.9% $100.7M-6.7% $107.9M+14.3% $94.4M+7.2% $88.1M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $51.7M0.0% $51.7M+4.0% $49.7M+1.5% $49.0M-0.4% $49.1M-9.1% $54.1M+17.6% $46.0M-3.4% $47.6M
Operating Income $54.5M+2.5% $53.1M-0.9% $53.6M+9.9% $48.8M+4.1% $46.9M-13.0% $53.9M+37.2% $39.2M+33.2% $29.5M
Interest Expense $2.9M+19.7% $2.4M-3.5% $2.5M-20.3% $3.1M-11.7% $3.6M-36.3% $5.6M-24.5% $7.4M-10.9% $8.3M
Income Tax $9.8M+658.4% -$1.8M-137.4% $4.7M-20.7% $6.0M-4.4% $6.2M+48.5% $4.2M-18.8% $5.2M+89.3% $2.7M
Net Income $41.2M-19.9% $51.4M+14.0% $45.1M+15.5% $39.1M+4.8% $37.3M-9.6% $41.2M+64.0% $25.1M+54.8% $16.2M
EPS (Diluted) $1.51 N/A $1.64+16.3% $1.41+5.2% $1.34 N/A $0.91+56.9% $0.58

PLXS Balance Sheet

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $3.2B+1.6% $3.1B+1.0% $3.1B+0.6% $3.1B+0.5% $3.1B-2.6% $3.2B-0.5% $3.2B-3.2% $3.3B
Current Assets $2.5B+2.4% $2.4B+0.2% $2.4B-0.1% $2.4B+0.4% $2.4B-3.6% $2.5B-2.5% $2.5B-3.4% $2.6B
Cash & Equivalents $248.8M-18.8% $306.5M+29.0% $237.6M-23.5% $310.5M-2.1% $317.2M-8.1% $345.1M+27.9% $269.9M+1.8% $265.1M
Inventory $1.3B+6.1% $1.2B-3.8% $1.3B-0.2% $1.3B-0.8% $1.3B-1.6% $1.3B-8.6% $1.4B-5.6% $1.5B
Accounts Receivable $679.7M+3.5% $656.6M-1.1% $663.5M+8.9% $609.5M+2.0% $597.5M-4.0% $622.4M-3.3% $643.8M-0.3% $645.5M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $1.7B+1.3% $1.7B-0.2% $1.7B-2.7% $1.7B-1.0% $1.8B-4.2% $1.8B-4.0% $1.9B-5.6% $2.0B
Current Liabilities $1.5B+1.6% $1.5B+0.1% $1.5B-3.2% $1.6B0.0% $1.6B-4.7% $1.6B-4.7% $1.7B-0.7% $1.7B
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $1.5B+1.8% $1.5B+2.5% $1.4B+5.0% $1.4B+2.5% $1.3B-0.4% $1.3B+4.6% $1.3B+0.5% $1.3B
Retained Earnings $2.0B+2.1% $2.0B+2.6% $1.9B+2.4% $1.9B+2.1% $1.9B+2.0% $1.8B+2.3% $1.8B+1.4% $1.8B

PLXS Cash Flow Statement

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$15.4M-111.7% $132.0M+391.1% $26.9M-26.7% $36.7M-31.6% $53.6M-75.6% $220.1M+67.3% $131.6M+49.9% $87.8M
Capital Expenditures $35.2M+1.1% $34.8M+153.9% $13.7M-32.1% $20.2M-23.9% $26.5M+0.8% $26.3M+51.6% $17.4M-24.1% $22.9M
Free Cash Flow -$50.6M-152.0% $97.2M+638.1% $13.2M-20.2% $16.5M-39.2% $27.1M-86.0% $193.8M+69.7% $114.2M+75.9% $64.9M
Investing Cash Flow -$35.1M-1.1% -$34.8M-146.5% -$14.1M+30.5% -$20.3M+23.4% -$26.5M-1.1% -$26.2M-49.2% -$17.6M+22.2% -$22.6M
Financing Cash Flow -$8.0M+71.6% -$28.1M+68.8% -$90.2M-256.0% -$25.3M+52.0% -$52.8M+56.5% -$121.3M-11.6% -$108.7M-246.2% -$31.4M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $22.4M+4.0% $21.5M+16.7% $18.4M+47.0% $12.5M-2.2% $12.8M-34.4% $19.5M+5.2% $18.6M+5.7% $17.6M

PLXS Financial Ratios

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 9.9%+0.0pp 9.9%-0.2pp 10.1%+0.2pp 10.0%-0.4pp 10.3%+0.1pp 10.3%+0.4pp 9.8%+0.7pp 9.1%
Operating Margin 5.1%+0.1pp 5.0%-0.2pp 5.3%+0.3pp 5.0%+0.2pp 4.8%-0.3pp 5.1%+1.0pp 4.1%+1.0pp 3.0%
Net Margin 3.9%-1.0pp 4.9%+0.4pp 4.4%+0.4pp 4.0%+0.2pp 3.8%-0.1pp 3.9%+1.3pp 2.6%+0.9pp 1.7%
Return on Equity 2.8%-0.8pp 3.5%+0.4pp 3.2%+0.3pp 2.9%+0.1pp 2.8%-0.3pp 3.1%+1.1pp 2.0%+0.7pp 1.3%
Return on Assets 1.3%-0.4pp 1.6%+0.2pp 1.5%+0.2pp 1.3%+0.1pp 1.2%-0.1pp 1.3%+0.5pp 0.8%+0.3pp 0.5%
Current Ratio 1.59+0.0 1.580.0 1.58+0.0 1.530.0 1.53+0.0 1.51+0.0 1.47-0.0 1.51
Debt-to-Equity 1.150.0 1.16-0.0 1.19-0.1 1.28-0.0 1.33-0.1 1.38-0.1 1.50-0.1 1.60
FCF Margin -4.7%-13.9pp 9.2%+7.9pp 1.3%-0.4pp 1.7%-1.1pp 2.8%-15.7pp 18.4%+6.6pp 11.9%+5.2pp 6.7%

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Frequently Asked Questions

Plexus Corp (PLXS) reported $4.0B in total revenue for fiscal year 2025. This represents a 1.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Plexus Corp (PLXS) revenue grew by 1.8% year-over-year, from $4.0B to $4.0B in fiscal year 2025.

Yes, Plexus Corp (PLXS) reported a net income of $172.9M in fiscal year 2025, with a net profit margin of 4.3%.

Plexus Corp (PLXS) reported diluted earnings per share of $6.26 for fiscal year 2025. This represents a 56.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Plexus Corp (PLXS) had EBITDA of $280.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Plexus Corp (PLXS) had a gross margin of 10.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Plexus Corp (PLXS) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Plexus Corp (PLXS) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Plexus Corp (PLXS) has a return on equity of 11.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Plexus Corp (PLXS) generated $154.0M in free cash flow during fiscal year 2025. This represents a -54.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Plexus Corp (PLXS) generated $249.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Plexus Corp (PLXS) had $3.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Plexus Corp (PLXS) invested $95.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Plexus Corp (PLXS) spent $65.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Plexus Corp (PLXS) had 27M shares outstanding as of fiscal year 2025.

Plexus Corp (PLXS) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.

Plexus Corp (PLXS) had a debt-to-equity ratio of 1.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Plexus Corp (PLXS) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Plexus Corp (PLXS) has an Altman Z-Score of 4.86, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Plexus Corp (PLXS) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Plexus Corp (PLXS) has an earnings quality ratio of 1.44x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Plexus Corp (PLXS) has an interest coverage ratio of 17.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Plexus Corp (PLXS) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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