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Fabrinet

FN NYSE Electronic Manufacturing Services Financials FY2017–FY2026

Fabrinet's revenue rose 35.7% to $4.6 billion in fiscal 2026. Its operating margin was 10.0%, up from 9.5% a year earlier. Free cash flow was $4 million, down 98.0%. It paid out $5 million in dividends and buybacks, 124% of free cash flow.

Last close · Oct 23, 2026

$314.94

0.9%
Value it Compare
Revenue Total sales reported in the income statement.
$4.6B
35.7% vs prior year
Operating margin Operating income as a share of revenue.
10.0%
0.5 pts
Net income Profit after all expenses, interest and tax.
$473M
42.3%
Free cash flow Cash from operations minus capital spending.
$4.2M
98.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
30.0%
1.4 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$11.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
24.1x

What Fabrinet does

No business description yet.

Legal name
FABRINET
Fiscal year ends
June 26, 2026
Latest annual report
—
Accession · CIK
0001408710-26-000028
0001408710

Revenue and margins

Fabrinet had $4.6B of revenue in fiscal 2026, up 35.7% 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 19.8% 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 $4.2M in fiscal 2026, 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

Fabrinet returned $5.2M to shareholders in fiscal 2026, 124% of free cash flow. The diluted share count fell 0.0%.

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

Value Fabrinet 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 $875M and divides by 36.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 24.1x · peers 32.1x · sector 33.5x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $478M$551M$859M$934M$875M
Debt incl. finance leases $27.4M$12.2M$0.0M$0.0M$0.0M
Net debt / EBITDA −1.9x−1.8x−2.6x−2.5x−1.7x
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Interest coverage 473.4x171.0x2,238.8x—5,510.6x
Current ratio 2.8x3.4x3.6x3.0x2.3x
Quick ratio 1.8x2.4x2.8x2.3x1.5x
Total assets $1.8B$2.0B$2.3B$2.8B$3.9B
Total liabilities $582M$511M$593M$850M$1.5B
Shareholders' equity $1.3B$1.5B$1.7B$2.0B$2.5B
Net debt (− = net cash) −$451M−$538M−$859M−$934M−$875M

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

$0.0M

0 insiders

Sold, 12 months

$17.0M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 3, 2026 Edward T. ArcherEVP, Sales & Marketing Sold 2,500 $385.91 $1.0M Form 4
May 22, 2026 Homa BahramiDirector Sold 2,500 $711.91 $1.8M Form 4
Feb 25, 2026 Thomas F KellyDirector Sold 1,850 $623.86 $1.2M Form 4
Dec 5, 2025 Darlene S. KnightDirector Sold 500 $482.11 $0.2M Form 4
Dec 4, 2025 Darlene S. KnightDirector Sold 500 $472.00 $0.2M Form 4
Dec 4, 2025 Thomas F KellyDirector Sold 2,200 $464.14 $1.0M Form 4
Dec 1, 2025 Homa BahramiDirector Sold 3,500 $453.75 $1.6M Form 4
Nov 26, 2025 Seamus GradyChief Executive Officer, Director Sold 22,451 $446.95 $10.0M 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 8 / 94 / 95 / 9
Accruals ratio −5.4%0.2%6.4%
Altman Z'' 10.439.387.65

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
Fabrinet FN $11.4B 35.7% 10.0% 0.1% 30.0% 24.1x 5
TTM Technologies TTMI $8.6B 19.0% 9.1% −0.0% 10.7% 36.3x 7 Compare →
Sanmina SANM $8.6B 7.4% 4.4% 5.8% 14.2% 27.9x 8 Compare →
TE Connectivity TEL $61.0B 8.9% 18.6% 18.6% 12.1% 20.4x 6 Compare →
IPG Photonics IPGP $3.0B 2.7% 1.3% −0.3% 0.8% 109.3x 7 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $1.4B $1.4B $1.6B $1.6B $1.9B $2.3B $2.6B $2.9B $3.4B $4.6B
Gross profit $172M $153M $179M $186M $221M $279M $336M $356M $413M $557M
Operating income $106M $93.8M $123M $117M $151M $205M $252M $278M $324M $463M
Interest expense $3.3M $3.6M $5.4M $3.0M $1.1M $0.4M $1.5M $0.1M $0.0M $0.1M
Pretax income $104M $88.0M $126M $119M $151M $207M $260M $311M $355M $555M
Income tax $6.7M $3.9M $5.3M $5.8M $2.1M $6.6M $12.2M $15.2M $22.7M $82.1M
Net income $97.1M $84.2M $121M $114M $148M $200M $248M $296M $333M $473M
Diluted EPS $2.57 $2.21 $3.23 $3.01 $3.95 $5.36 $6.73 $8.10 $9.17 $13.05
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $70.9M $138M $147M $151M $122M $124M $213M $413M $328M $257M
Capital expenditure $68.3M $33.8M $18.7M $42.3M $46.1M $89.6M $61.4M $47.5M $121M $253M
Free cash flow $2.7M $104M $129M $108M $76.1M $34.7M $152M $366M $207M $4.2M
Depreciation and amortization $23.8M $29.1M $29.9M $30.9M $36.3M $38.7M $43.8M $49.0M $53.4M $68.4M
Stock-based compensation $26.5M $22.6M $17.2M $22.2M $25.5M $28.0M $28.1M $28.4M $33.0M $34.6M
Acquisitions $9.9M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $42.4M $5.4M $20.7M $18.8M $59.9M $47.6M $39.5M $126M $5.2M
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 $0.0M $42.4M $5.4M $20.7M $18.8M $59.9M $47.6M $39.5M $126M $5.2M
Balance sheet
Cash and short-term investments $285M $332M $437M $488M $548M $478M $551M $859M $934M $875M
Total debt — — $60.9M $51.7M $39.5M $27.4M $12.2M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.1M $0.0M $0.1M $0.0M $0.0M $0.0M $0.0M
Current assets $799M $854M $1.0B $1.1B $1.4B $1.5B $1.7B $2.0B $2.4B $3.2B
Current liabilities $311M $270M $313M $334M $444M $539M $482M $558M $810M $1.4B
Inventory $239M $258M $294M $310M $422M $557M $520M $463M $581M $1.0B
Property and equipment, net $217M $220M $211M $228M $241M $292M $310M $307M $381M $615M
Total assets $1.0B $1.1B $1.3B $1.4B $1.6B $1.8B $2.0B $2.3B $2.8B $3.9B
Total liabilities $352M $347M $392M $408M $504M $582M $511M $593M $850M $1.5B
Shareholders' equity $682M $741M $863M $974M $1.1B $1.3B $1.5B $1.7B $2.0B $2.5B
Margins
Gross margin 12.1% 11.2% 11.3% 11.3% 11.8% 12.3% 12.7% 12.4% 12.1% 12.0%
Operating margin 7.5% 6.8% 7.7% 7.2% 8.0% 9.0% 9.5% 9.6% 9.5% 10.0%
EBITDA margin 9.1% 9.0% 9.6% 9.0% 10.0% 10.8% 11.2% 11.3% 11.1% 11.5%
Net margin 6.8% 6.1% 7.6% 6.9% 7.9% 8.9% 9.4% 10.3% 9.7% 10.2%
FCF margin 0.2% 7.6% 8.1% 6.6% 4.1% 1.5% 5.7% 12.7% 6.1% 0.1%
Returns
Return on capital — — — 21.8% 26.0% 28.1% 27.7% 29.1% 31.4% 30.0%
Return on capital employed 16.0% 12.2% 13.9% 11.8% 13.6% 16.6% 18.0% 16.9% 17.1% 20.4%
Return on equity 15.7% 11.8% 15.1% 12.4% 14.2% 16.9% 18.2% 18.4% 17.8% 21.3%
Return on assets 10.3% 7.9% 10.3% 8.6% 9.9% 11.6% 13.0% 13.7% 12.9% 14.0%
Growth
Revenue growth 45.4% −3.4% 15.5% 3.6% 14.5% 20.4% 16.9% 9.0% 18.6% 35.7%
Net income growth 56.9% −13.3% 43.7% −6.2% 30.7% 35.1% 23.7% 19.5% 12.3% 42.3%
EPS growth 53.0% −14.0% 46.2% −6.8% 31.2% 35.7% 25.6% 20.4% 13.2% 42.3%
FCF growth −58.7% 3,801.8% 23.5% −15.9% −29.8% −54.5% 338.4% 140.6% −43.3% −98.0%
Share count change 2.7% 0.5% −1.6% 0.7% −0.3% −0.4% −1.4% −0.8% −0.8% −0.0%
Financial health
Net debt / EBITDA — — −2.5x −2.9x −2.7x −1.9x −1.8x −2.6x −2.5x −1.7x
Debt / equity — — 0.1x 0.1x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x
Interest coverage 31.9x 26.0x 22.8x 38.6x 137.1x 473.4x 171.0x 2,238.8x — 5,510.6x
Current ratio 2.6x 3.2x 3.3x 3.4x 3.0x 2.8x 3.4x 3.6x 3.0x 2.3x
Quick ratio 1.8x 2.2x 2.3x 2.5x 2.1x 1.8x 2.4x 2.8x 2.3x 1.5x
Capital allocation
Capex / revenue 4.8% 2.5% 1.2% 2.6% 2.5% 4.0% 2.3% 1.7% 3.5% 5.4%
Stock comp / revenue 1.9% 1.7% 1.1% 1.4% 1.4% 1.2% 1.1% 1.0% 1.0% 0.8%
Payouts / FCF 0.0% 40.7% 4.2% 19.1% 24.8% 172.9% 31.3% 10.8% 60.7% 123.9%
Quality scores
Piotroski F-score — — — 6.0 7.0 7.0 8.0 8.0 4.0 5.0
Altman Z'' 7.6 8.2 8.6 8.9 8.7 8.7 10.2 10.4 9.4 7.7
Accruals ratio 2.8% −5.1% −2.3% −2.8% 1.8% 4.4% 1.8% −5.4% 0.2% 6.4%

Source: SEC EDGAR XBRL filings (CIK 0001408710). 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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