FN Fabrinet

Overview and Growth

Fabrinet generated $4.64B of revenue in fiscal 2026, with net income of $473.03M and an operating cash inflow of $256.73M. The $4.64B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 35.7% from $3.42B in fiscal 2025, increasing the company’s operating scale. Diluted earnings per share were $13.05, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS increased by 42.3% from $9.17 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. Asset turnover was 1.19x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $556.51M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 12.0% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $462.89M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 10.0% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $473.03M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 10.2% margin after operating costs and the remaining recognized items. Pretax income was $555.11M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 12.0%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $82.09M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 14.8%, without assuming a statutory-rate comparison. The relationship between net income and period-end equity was 19.3%, indicating the profitability achieved on book capital. Return on period-end assets was 12.1%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $3.91B of assets against $1.46B of liabilities and $2.45B of equity, revealing how the asset base was financed. At period end, current assets of $3.16B compared with current liabilities of $1.40B, defining the company’s short-term resource position. Current assets covered current liabilities by 2.25x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $346.71M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 24.7% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 37.2%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 8.9%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 38.1% higher than fiscal 2025 assets of $2.83B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $256.73M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 0.54x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $252.50M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 98.4% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $4.22M of positive free cash flow for the period. The free-cash-flow margin was 0.1%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 0.1%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Jun 26, 2026. Analysis generated Oct 21, 2026.