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Avnet

AVT Nasdaq Technology Distributors Financials FY2017–FY2026

Avnet's revenue rose 24.5% to $27.6 billion in fiscal 2026. Its operating margin was 2.6%, up from 2.3% a year earlier. Free cash flow was −$354 million, against $577 million a year earlier. It paid out $253 million in dividends and buybacks. The diluted share count fell 4.6%.

Last close · Oct 23, 2026

$88.08

0.6%
Value it Compare
Revenue Total sales reported in the income statement.
$27.6B
24.5% vs prior year
Operating margin Operating income as a share of revenue.
2.6%
0.3 pts
Net income Profit after all expenses, interest and tax.
$334M
39.2%
Free cash flow Cash from operations minus capital spending.
−$355M
161.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
7.0%
0.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$7.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
22.0x

What Avnet does

No business description yet.

Legal name
AVNET, INC.
Fiscal year ends
June 27, 2026
Latest annual report
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Accession · CIK
0001104659-26-096346
0000008858

Revenue and margins

Avnet had $27.6B of revenue in fiscal 2026, up 24.5% 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 2017 to 2026, diluted EPS grew −0.2% 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 −$355M in fiscal 2026, −1.3% 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

Avnet returned $253M to shareholders in fiscal 2026. The diluted share count fell 4.6%.

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

Value Avnet 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 −$2.3B and divides by 83.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 22.0x · peers 17.5x · sector 33.5x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $154M$288M$311M$192M$155M
Debt incl. finance leases $1.4B$3.0B$2.4B$2.6B$2.5B
Net debt / EBITDA 1.2x2.1x2.3x4.1x2.9x
Debt / equity 0.3x0.6x0.5x0.5x0.5x
Interest coverage 9.4x4.7x3.0x2.1x2.9x
Current ratio 2.1x2.5x2.3x2.4x1.8x
Quick ratio 1.1x1.2x1.1x1.2x1.0x
Total assets $10.4B$12.5B$12.2B$12.1B$15.4B
Total liabilities $6.2B$7.7B$7.3B$7.1B$10.4B
Shareholders' equity $4.2B$4.8B$4.9B$5.0B$5.0B
Net debt (− = net cash) $1.3B$2.7B$2.1B$2.4B$2.3B

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

$0.1M

1 insider

Sold, 12 months

$17.2M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 19, 2026 Michael Ryan McCoySVP, General Counsel Sold 32,052 $91.10 $2.9M Form 4
Aug 12, 2026 Philip R GallagherChief Executive Officer, Director Sold 51,900 $98.46 $5.1M Form 4
May 22, 2026 Kenneth A JacobsonChief Financial Officer Sold 12,000 $85.26 $1.0M Form 4
May 5, 2026 Philip R GallagherChief Executive Officer, Director Sold 23,920 $82.92 $2.0M Form 4
Feb 24, 2026 Philip R GallagherChief Executive Officer, Director Sold 46,068 $67.42 $3.1M Form 4
Feb 17, 2026 Michael Ryan McCoySVP, General Counsel Sold 36,292 $65.48 $2.4M Form 4
Feb 12, 2026 Jay David YoungbloodSVP, Chief Digital Officer Sold 987 $66.27 $0.1M Form 4
Feb 2, 2026 Leng Jin ChanSVP, CIO Sold 9,226 $61.53 $0.6M Form 4
Nov 7, 2025 Kenneth A JacobsonChief Financial Officer Bought 2,139 $46.75 $0.1M Form 4

Piotroski F-score

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

TestFY24FY25FY26
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 5 / 95 / 95 / 9
Accruals ratio −1.6%−4.0%4.5%
Altman Z'' 5.315.144.04

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
Avnet AVT $7.3B 24.5% 2.6% −1.3% 7.0% 22.0x 5
Arrow Electronics ARW $10.9B 10.5% 2.7% −0.1% 7.3% 13.4x 6 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 →
Flex FLEX $28.6B 8.1% 4.9% 3.8% 16.3% 29.6x 9 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $17.4B $19.0B $19.5B $17.6B $19.5B $24.3B $26.5B $23.8B $22.2B $27.6B
Gross profit $2.4B $2.5B $2.5B $2.1B $2.2B $3.0B $3.2B $2.8B $2.4B $2.9B
Operating income $444M $209M $366M −$4.6M $281M $939M $1.2B $844M $514M $725M
Interest expense $99.6M $92.7M $135M $123M $89.5M $100M $251M $283M $246M $251M
Pretax income $310M $145M $237M −$130M $173M $833M $983M $632M $251M $467M
Income tax $47.1M $288M $60.3M −$98.5M −$20.2M $141M $212M $134M $10.4M $133M
Net income $525M −$156M $176M −$31.1M $193M $692M $771M $499M $240M $334M
Diluted EPS $4.08 −$1.30 $1.59 −$0.31 $1.93 $6.94 $8.26 $5.43 $2.75 $4.01
Diluted shares 0.13B 0.12B 0.11B 0.10B 0.10B 0.10B 0.09B 0.09B 0.09B 0.08B
Cash flow
Cash from operations −$369M $254M $535M $730M $90.9M −$219M −$714M $690M $725M −$281M
Capital expenditure $120M $156M $123M $73.5M $50.4M $48.9M $195M $227M $148M $73.6M
Free cash flow −$489M $97.6M $412M $657M $40.6M −$268M −$908M $464M $577M −$355M
Depreciation and amortization $155M $235M $181M $182M $132M $102M $88.6M $86.7M $71.6M $76.8M
Stock-based compensation $47.7M $24.0M $30.1M $26.8M $29.3M $36.7M $38.8M $33.5M $36.4M $48.7M
Acquisitions $803M $15.3M $56.4M $51.5M $18.4M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $276M $324M $569M $238M $0.0M $184M $222M $163M $304M $138M
Dividends paid $88.7M $88.3M $87.2M $84.0M $84.3M $98.5M $106M $112M $113M $114M
Dividends and buybacks $365M $412M $656M $322M $84.3M $283M $328M $275M $417M $253M
Balance sheet
Cash and short-term investments $836M $621M $546M $477M $200M $154M $288M $311M $192M $155M
Total debt $1.7B $1.5B $1.4B $1.4B $1.2B $1.4B $3.0B $2.4B $2.6B $2.5B
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 $7.5B $7.6B $6.9B $6.3B $7.2B $8.9B $10.8B $10.4B $10.0B $13.3B
Current liabilities $2.5B $3.0B $2.6B $2.3B $3.1B $4.3B $4.2B $4.5B $4.1B $7.5B
Inventory $2.8B $3.1B $3.0B $2.7B $3.2B $4.2B $5.5B $5.5B $5.2B $6.1B
Property and equipment, net $520M $523M $452M $405M $369M $315M $442M $568M $667M $645M
Total assets $9.7B $9.6B $8.6B $8.1B $8.9B $10.4B $12.5B $12.2B $12.1B $15.4B
Total liabilities $4.5B $4.9B $4.4B $4.4B $4.8B $6.2B $7.7B $7.3B $7.1B $10.4B
Shareholders' equity $5.2B $4.7B $4.1B $3.7B $4.1B $4.2B $4.8B $4.9B $5.0B $5.0B
Margins
Gross margin 13.6% 13.3% 12.7% 11.7% 11.5% 12.2% 12.0% 11.6% 10.7% 10.4%
Operating margin 2.5% 1.1% 1.9% −0.0% 1.4% 3.9% 4.5% 3.6% 2.3% 2.6%
EBITDA margin 3.4% 2.3% 2.8% 1.0% 2.1% 4.3% 4.8% 3.9% 2.6% 2.9%
Net margin 3.0% −0.8% 0.9% −0.2% 1.0% 2.9% 2.9% 2.1% 1.1% 1.2%
FCF margin −2.8% 0.5% 2.1% 3.7% 0.2% −1.1% −3.4% 2.0% 2.6% −1.3%
Returns
Return on capital 6.8% 1.8% 5.2% −0.1% 5.8% 14.8% 14.4% 9.2% 6.8% 7.0%
Return on capital employed 6.6% 3.0% 5.8% −0.1% 4.8% 15.6% 16.5% 10.6% 6.5% 9.1%
Return on equity 10.6% −3.2% 4.0% −0.8% 4.9% 16.7% 17.2% 10.3% 4.8% 6.7%
Return on assets 5.0% −1.6% 1.9% −0.4% 2.3% 7.2% 6.7% 4.0% 2.0% 2.4%
Growth
Revenue growth 4.2% 9.2% 2.5% −9.7% 10.8% 24.5% 9.2% −10.5% −6.6% 24.5%
Net income growth 3.7% −129.8% — −117.6% — 258.5% 11.3% −35.3% −51.8% 39.2%
EPS growth 7.4% −131.9% — −119.5% — 259.6% 19.0% −34.3% −49.4% 45.8%
FCF growth −662.6% — 322.2% 59.4% −93.8% −760.8% — — 24.5% −161.4%
Share count change −3.4% −6.8% −7.6% −9.3% −0.3% −0.4% −6.5% −1.6% −4.8% −4.6%
Financial health
Net debt / EBITDA 1.5x 2.0x 1.6x 5.3x 2.4x 1.2x 2.1x 2.3x 4.1x 2.9x
Debt / equity 0.3x 0.3x 0.3x 0.4x 0.3x 0.3x 0.6x 0.5x 0.5x 0.5x
Interest coverage 4.5x 2.3x 2.7x −0.0x 3.2x 9.4x 4.7x 3.0x 2.1x 2.9x
Current ratio 3.1x 2.6x 2.7x 2.8x 2.3x 2.1x 2.5x 2.3x 2.4x 1.8x
Quick ratio 1.9x 1.5x 1.5x 1.6x 1.3x 1.1x 1.2x 1.1x 1.2x 1.0x
Capital allocation
Capex / revenue 0.7% 0.8% 0.6% 0.4% 0.3% 0.2% 0.7% 1.0% 0.7% 0.3%
Stock comp / revenue 0.3% 0.1% 0.2% 0.2% 0.2% 0.2% 0.2% 0.1% 0.2% 0.2%
Payouts / FCF — 421.8% 159.2% 49.0% 207.7% — — 59.3% 72.2% —
Quality scores
Piotroski F-score 5.0 5.0 7.0 5.0 6.0 5.0 3.0 5.0 5.0 5.0
Altman Z'' 6.2 5.4 5.6 5.1 5.0 5.2 5.6 5.3 5.1 4.0
Accruals ratio 8.5% −4.3% −4.0% −9.1% 1.2% 9.4% 13.0% −1.6% −4.0% 4.5%

Source: SEC EDGAR XBRL filings (CIK 0000008858). 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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