PLXS Technology

Plexus Corp.

$216.78+3.51%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Technology
Industry: Electronic Components
Country: United States
Market cap: 5.8B USD
Enterprise value: 5.9B USD
Full-time employees: 20,000

Overall health

Strength: more profitable than most peersmore profitable than peers
About average: growth, valuation and risk (debt, liquidity and share-price swings)growth, valuation and risk

Ranks #745 of 1,612 technology companies (top 47%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $82M vs $162M spent repurchasing shares over the 3 fiscal years to FY Sep 2025. Shares outstanding changed −3.7% from October 2022 to August 2026.
Over three fiscal years Plexus recorded $82M of stock-based pay expense and spent $162M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−3.7%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Plexus recorded $82M of stock-based pay expense and spent $162M repurchasing shares. The share count barely moved (−3.7%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Profit isn't fully turning into cash. Free cash flow is only 33% of reported profit.
Free cash flow is only 33% of reported profit. That usually means heavy spending on facilities and equipment, or cash tied up in inventory and unpaid bills. Worth checking whether it's a phase of investment or a lasting pattern.

StockQuotient Score

53/ 100

Oct 5 52 → Nov 4 53 (+1)

Valuation

Is the price right?

52/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 51 → 52

Share price -5.9%+2
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.2%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score 0.43Sector median: 0.0225 · MAD: 0.0225

EBITDA yield5.2%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.26Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield1.1%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.61Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield26.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 6.6%

Why

Mixed versus peers:

▲ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth15.4%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.14Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth1.5%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score -0.41Sector median: 0.0483 · MAD: 0.0793

Revenue growth14.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.56Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

60/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin5.0%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.18Sector median: 0.0631 · MAD: 0.0710

Return on assets5.1%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.60Sector median: 0.0293 · MAD: 0.0362

Return on invested capital15.0%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.96Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin10.0%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity12.1%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.89

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.06Sector median: 0.8710 · MAD: 0.3700

Current ratio1.49×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.50Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.20×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.21Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Plexus

Is Plexus getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.
How is Plexus valued vs its peers?: Priced about in line with its peers. Valuation scores 52/100 against 1,711 technology peers. Earnings yield 3.2% vs a peer median of 2.2% (stronger than 61% of peers).Earnings yield 3.2% vs peers 2.2% (stronger than 61% of peers). Free cash flow yield 1.1% vs a peer median of 2.7% (weaker than 66% of peers).Free cash flow yield 1.1% vs peers 2.7% (weaker than 66% of peers).
Is Plexus growing?: At about the same pace as its peers. Growth scores 51/100 against 1,711 technology peers. Revenue growth 14.2% vs a peer median of 8.5% (stronger than 67% of peers).Revenue growth 14.2% vs peers 8.5% (stronger than 67% of peers). 3-year revenue growth 1.5% vs a peer median of 4.8% (weaker than 62% of peers).3-year revenue growth 1.5% vs peers 4.8% (weaker than 62% of peers).
How profitable is Plexus?: More profitable than most of its peers. Profitability scores 60/100 against 1,711 technology peers. Return on invested capital 15.0% vs a peer median of 6.8% (stronger than 72% of peers).Return on invested capital 15.0% vs peers 6.8% (stronger than 72% of peers).
How risky is Plexus?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.49× vs a peer median of 1.83× (weaker than 65% of peers).Current ratio 1.49× vs peers 1.83× (weaker than 65% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 4, 2026 · filed Aug 6, 2026 · compared with the quarter ended Apr 4, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.3B USD	4.6B USD	+6.6%
Net income (12 months)	187.5M USD	185.4M USD	−1.1%
Operating margin	5.2%	5.0%	−0.2 pts
Free cash flow (12 months)	75.8M USD	61.9M USD	−18.4%
Cash	303.1M USD	314.1M USD	+3.6%
Shares outstanding	26.8M	26.7M	−0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Electronic Components · 19 companies

Valuations in Electronic Components are near the top of their range since Mar 2016.

90% of months since Mar 2016 were valued lower than now.
87% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +2% vs the whole market, against a usual −24%.

Mar 2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	9.6%	9.1%	9.4%	9.6%	10.1%	▲ 0.5 pts
Operating margin	5.2%	4.7%	4.7%	4.2%	5.0%	▲ 0.8 pts
Net margin	4.1%	3.6%	3.3%	2.8%	4.3%	▲ 1.5 pts
Return on assets (ROA)	5.6%	4.1%	4.2%	3.5%	5.5%	▲ 2.0 pts
Return on equity (ROE)	13.5%	12.6%	11.5%	8.4%	11.9%	▲ 3.4 pts
Free cash flow margin	2.5%	-3.4%	1.5%	8.6%	3.8%	▼ 4.8 pts
Current ratio	1.71×	1.40×	1.47×	1.51×	1.58×	▲ 4.8%
Quick ratio	0.85×	0.60×	0.61×	0.71×	0.77×	▲ 8.5%
Interest coverage	12.37×	11.24×	6.21×	5.81×	17.44×	▲ 200%

PLXS price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $82M vs $162M spent repurchasing shares over the 3 fiscal years to FY Sep 2025. Shares outstanding changed −3.7% from October 2022 to August 2026.

Over three fiscal years Plexus recorded $82M of stock-based pay expense and spent $162M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (−3.7%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Plexus recorded $82M of stock-based pay expense and spent $162M repurchasing shares. The share count barely moved (−3.7%), so much of the repurchasing offset new employee shares rather than shrinking the count.

Profit isn't fully turning into cash. Free cash flow is only 33% of reported profit.

Free cash flow is only 33% of reported profit. That usually means heavy spending on facilities and equipment, or cash tied up in inventory and unpaid bills. Worth checking whether it's a phase of investment or a lasting pattern.

Questions investors ask about Plexus

Is Plexus getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.

How is Plexus valued vs its peers?

Priced about in line with its peers. Valuation scores 52/100 against 1,711 technology peers. Earnings yield 3.2% vs a peer median of 2.2% (stronger than 61% of peers).Earnings yield 3.2% vs peers 2.2% (stronger than 61% of peers). Free cash flow yield 1.1% vs a peer median of 2.7% (weaker than 66% of peers).Free cash flow yield 1.1% vs peers 2.7% (weaker than 66% of peers).

Is Plexus growing?

At about the same pace as its peers. Growth scores 51/100 against 1,711 technology peers. Revenue growth 14.2% vs a peer median of 8.5% (stronger than 67% of peers).Revenue growth 14.2% vs peers 8.5% (stronger than 67% of peers). 3-year revenue growth 1.5% vs a peer median of 4.8% (weaker than 62% of peers).3-year revenue growth 1.5% vs peers 4.8% (weaker than 62% of peers).

How profitable is Plexus?

More profitable than most of its peers. Profitability scores 60/100 against 1,711 technology peers. Return on invested capital 15.0% vs a peer median of 6.8% (stronger than 72% of peers).Return on invested capital 15.0% vs peers 6.8% (stronger than 72% of peers).

How risky is Plexus?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.49× vs a peer median of 1.83× (weaker than 65% of peers).Current ratio 1.49× vs peers 1.83× (weaker than 65% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.3B USD

4.6B USD

+6.6%

Net income (12 months)

187.5M USD

185.4M USD

−1.1%

Operating margin

5.2%

5.0%

−0.2 pts

Free cash flow (12 months)

75.8M USD

61.9M USD

−18.4%

Cash

303.1M USD

314.1M USD

+3.6%

Shares outstanding

26.8M

26.7M

−0.4%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

9.6%

9.1%

9.4%

9.6%

10.1%

▲ 0.5 pts

Operating margin

5.2%

4.7%

4.2%

5.0%

▲ 0.8 pts

Net margin

4.1%

3.6%

3.3%

2.8%

4.3%

▲ 1.5 pts

Return on assets (ROA)

5.6%

4.1%

4.2%

3.5%

5.5%

▲ 2.0 pts

Return on equity (ROE)

13.5%

12.6%

11.5%

8.4%

11.9%

▲ 3.4 pts

Free cash flow margin

2.5%

-3.4%

1.5%

8.6%

3.8%

▼ 4.8 pts

Current ratio

1.71×

1.40×

1.47×

1.51×

1.58×

▲ 4.8%

Quick ratio

0.85×

0.60×

0.61×

0.71×

0.77×

▲ 8.5%

Interest coverage

12.37×

11.24×

6.21×

5.81×

17.44×

▲ 200%