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Arrow Electronics

ARW NYSE Technology Distributors Financials FY2016–FY2025

Arrow Electronics' revenue rose 10.5% to $30.9 billion in fiscal 2025. Its operating margin was 2.7%, down from 2.8% a year earlier. Free cash flow was −$37 million, against $1.0 billion a year earlier. It paid out $162 million in dividends and buybacks. The diluted share count fell 2.9%.

Last close · Oct 23, 2026

$209.76

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$30.9B
10.5% vs prior year
Operating margin Operating income as a share of revenue.
2.7%
0.1 pts
Net income Profit after all expenses, interest and tax.
$571M
45.7%
Free cash flow Cash from operations minus capital spending.
−$37.2M
103.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
7.3%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.4x
On $15.64 EPS (TTM)

What Arrow Electronics does

No business description yet.

Legal name
ARROW ELECTRONICS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001104659-26-012765
0000007536

Revenue and margins

Arrow Electronics had $30.9B of revenue in fiscal 2025, up 10.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 7.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$37.2M in fiscal 2025, −0.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Arrow Electronics returned $162M to shareholders in fiscal 2025. The diluted share count fell 2.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Arrow Electronics yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.8B and divides by 52.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.4x · peers 20.9x · sector 33.5x.

Balance sheet

Cash, debt and the ratios that show how comfortably Arrow Electronics can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $222M$177M$218M$189M$307M
Debt incl. finance leases $2.2B$3.2B$2.2B$2.8B$3.1B
Net debt / EBITDA 1.2x1.4x1.2x2.8x2.9x
Debt / equity 0.4x0.6x0.4x0.5x0.5x
Interest coverage 13.8x11.8x5.4x3.9x5.0x
Current ratio 1.4x1.5x1.4x1.5x1.4x
Quick ratio 1.0x1.1x1.0x1.1x1.1x
Total assets $19.5B$21.8B$21.7B$21.8B$29.1B
Total liabilities $14.2B$16.2B$15.8B$15.9B$22.4B
Shareholders' equity $5.3B$5.5B$5.8B$5.8B$6.6B
Net debt (− = net cash) $2.0B$3.0B$2.0B$2.6B$2.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.6M

1 insider

Sold, 12 months

$14.6M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 3, 2026 Carine Lamercie Jean-ClaudeSVP, CLCO and Secretary Sold 1,000 $209.85 $0.2M Form 4
Jun 2, 2026 Gretchen ZechSVP, Chief Gov, Sust, HR Offr Sold 20,931 $228.54 $4.8M Form 4
May 29, 2026 Gretchen ZechSVP, Chief Gov, Sust, HR Offr Sold 4,600 $215.15 $1.0M Form 4
May 22, 2026 Carine Lamercie Jean-ClaudeSVP, CLCO and Secretary Sold 3,000 $216.00 $0.6M Form 4
May 21, 2026 Gretchen ZechSVP, Chief Gov, Sust, HR Offr Sold 16,000 $212.08 $3.4M Form 4
May 20, 2026 Eric NowakPresident, Global ECS Sold 3,473 $210.99 $0.7M Form 4
Feb 23, 2026 Carine Lamercie Jean-ClaudeSVP, CLCO and Secretary Sold 4,078 $160.00 $0.7M Form 4
Feb 19, 2026 William F. AustenInterim President and CEO, Director Bought 3,960 $151.87 $0.6M Form 4
Feb 17, 2026 Richard John MaranoPresident, Global Components Sold 2,500 $155.32 $0.4M Form 4
Feb 11, 2026 Andrew Charles KerinDirector Sold 1,456 $157.27 $0.2M Form 4
Feb 11, 2026 Carine Lamercie Jean-ClaudeSVP, CLCO and Secretary Sold 4,000 $156.65 $0.6M Form 4
Feb 11, 2026 Eric NowakPresident, Global ECS Sold 12,699 $157.09 $2.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✕
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✓
F-score 4 / 95 / 96 / 9
Accruals ratio 0.9%−3.4%2.0%
Altman Z'' 3.273.262.77

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Arrow Electronics ARW $10.9B 10.5% 2.7% −0.1% 7.3% 13.4x 6
Avnet AVT $7.3B 24.5% 2.6% −1.3% 7.0% — 5 Compare →
CDW CDW $21.0B 6.8% 7.4% 4.9% 16.4% 19.8x 5 Compare →
TD Synnex SNX $19.6B 6.9% 2.3% 2.2% 10.3% 15.1x 7 Compare →
Applied Materials AMAT $301.8B 4.4% 29.2% 20.1% 35.9% 32.5x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $23.5B $26.6B $29.7B $28.9B $28.7B $34.5B $37.1B $33.1B $27.9B $30.9B
Gross profit $3.1B $3.4B $3.7B $3.3B $3.2B $4.2B $4.8B $4.1B $3.3B $3.5B
Operating income $877M $946M $1.1B $108M $895M $1.6B $2.1B $1.5B $769M $822M
Interest expense $142M $157M $214M $210M $138M $113M $176M $274M $199M $163M
Pretax income $716M $694M $909M −$112M $759M $1.4B $1.9B $1.2B $489M $718M
Income tax $191M $287M $188M $88.3M $173M $326M $449M $255M $95.8M $148M
Net income $523M $402M $716M −$204M $584M $1.1B $1.4B $904M $392M $571M
Diluted EPS $5.68 $4.48 $8.10 −$2.44 $7.43 $15.10 $21.80 $15.84 $7.29 $10.93
Diluted shares 0.09B 0.09B 0.09B 0.08B 0.08B 0.07B 0.07B 0.06B 0.05B 0.05B
Cash flow
Cash from operations $360M $125M $273M $858M $1.4B $419M −$33.1M $705M $1.1B $64.0M
Capital expenditure $165M $204M $135M $143M $124M $83.1M $78.8M $83.3M $92.7M $101M
Free cash flow $195M −$79.4M $137M $715M $1.2B $336M −$112M $622M $1.0B −$37.2M
Depreciation and amortization $159M $154M $186M $190M $189M $195M $187M $181M $163M $138M
Stock-based compensation $39.8M $39.1M $46.2M $41.1M $35.3M $36.1M $42.9M $41.6M $34.6M $27.9M
Acquisitions $64.8M $3.6M $332M $0.0M $0.0M $0.0M $0.0M $0.0M $34.8M $0.0M
Share buybacks $216M $174M $243M $404M $484M $912M $1.0B $770M $265M $162M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $216M $174M $243M $404M $484M $912M $1.0B $770M $265M $162M
Balance sheet
Cash and short-term investments $534M $730M $509M $300M $374M $222M $177M $218M $189M $307M
Total debt $2.7B $2.9B $3.2B $2.6B $2.1B $2.2B $3.2B $2.2B $2.8B $3.1B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $10.3B $12.4B $13.6B $12.5B $13.2B $15.9B $18.3B $18.3B $18.4B $25.7B
Current liabilities $6.7B $8.0B $8.8B $8.3B $9.1B $11.3B $12.4B $13.2B $12.6B $18.8B
Inventory $2.9B $3.3B $3.9B $3.5B $3.3B $4.2B $5.3B $5.2B $4.7B $5.1B
Property and equipment, net $756M $839M $825M $803M $800M $683M $597M $531M $469M $475M
Total assets $14.2B $16.5B $17.8B $16.4B $17.1B $19.5B $21.8B $21.7B $21.8B $29.1B
Total liabilities $9.7B $11.5B $12.4B $11.5B $11.9B $14.2B $16.2B $15.8B $15.9B $22.4B
Shareholders' equity $4.4B $4.9B $5.3B $4.8B $5.1B $5.3B $5.5B $5.8B $5.8B $6.6B
Margins
Gross margin 13.4% 12.6% 12.5% 11.4% 11.1% 12.2% 13.0% 12.5% 11.8% 11.2%
Operating margin 3.7% 3.6% 3.9% 0.4% 3.1% 4.5% 5.6% 4.4% 2.8% 2.7%
EBITDA margin 4.4% 4.1% 4.5% 1.0% 3.8% 5.1% 6.1% 5.0% 3.3% 3.1%
Net margin 2.2% 1.5% 2.4% −0.7% 2.0% 3.2% 3.8% 2.7% 1.4% 1.9%
FCF margin 0.8% −0.3% 0.5% 2.5% 4.3% 1.0% −0.3% 1.9% 3.7% −0.1%
Returns
Return on capital 10.0% 8.0% 11.9% 1.1% 9.8% 16.9% 19.7% 13.9% 7.6% 7.3%
Return on capital employed 12.1% 11.8% 13.1% 1.3% 11.1% 19.3% 23.5% 16.4% 8.7% 8.5%
Return on equity 12.2% 8.6% 13.9% −4.0% 11.8% 21.4% 26.4% 15.9% 6.8% 9.3%
Return on assets 3.8% 2.6% 4.2% −1.2% 3.5% 6.1% 6.9% 4.2% 1.8% 2.3%
Growth
Revenue growth 0.9% 13.1% 11.8% −2.6% −0.8% 20.2% 7.7% −10.8% −15.7% 10.5%
Net income growth 5.0% −23.1% 78.1% −128.5% — 89.6% 28.8% −36.7% −56.6% 45.7%
EPS growth 9.2% −21.1% 80.8% −130.1% — 103.2% 44.4% −27.3% −54.0% 49.9%
FCF growth −61.4% −140.7% — 420.4% 73.0% −72.8% −133.3% — 66.8% −103.6%
Share count change −3.8% −2.5% −1.5% −5.5% −5.9% −6.7% −10.8% −12.9% −5.7% −2.9%
Financial health
Net debt / EBITDA 2.1x 2.0x 2.1x 7.9x 1.6x 1.2x 1.4x 1.2x 2.8x 2.9x
Debt / equity 0.6x 0.6x 0.6x 0.6x 0.4x 0.4x 0.6x 0.4x 0.5x 0.5x
Interest coverage 6.2x 6.0x 5.4x 0.5x 6.5x 13.8x 11.8x 5.4x 3.9x 5.0x
Current ratio 1.5x 1.6x 1.6x 1.5x 1.4x 1.4x 1.5x 1.4x 1.5x 1.4x
Quick ratio 1.1x 1.2x 1.1x 1.1x 1.1x 1.0x 1.1x 1.0x 1.1x 1.1x
Capital allocation
Capex / revenue 0.7% 0.8% 0.5% 0.5% 0.4% 0.2% 0.2% 0.3% 0.3% 0.3%
Stock comp / revenue 0.2% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
Payouts / FCF 111.0% — 177.1% 56.6% 39.1% 271.4% — 123.8% 25.6% —
Quality scores
Piotroski F-score 6.0 6.0 5.0 4.0 7.0 7.0 5.0 4.0 5.0 6.0
Altman Z'' 3.8 3.7 3.8 3.4 3.6 3.8 4.2 3.3 3.3 2.8
Accruals ratio 1.2% 1.8% 2.6% −6.2% −4.6% 3.8% 7.1% 0.9% −3.4% 2.0%

Source: SEC EDGAR XBRL filings (CIK 0000007536). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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