FLEX LTD. (FLEX)

Printed Circuit Boards

Latest Price

$113.75

TTM P/E

48.82

Normalized P/E

53.77

Div Yield

Book Value

13.77

P/B Ratio

8.26

Valuation metrics

EPS: $2.33

Book value / share: $14.07

Formula: √(22.5 × EPS × BVPS)

Graham Number

$27.16

76% downside

Norm. op. income: $1.2B (median of 5yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$22.46

80% downside

Base FCF: $796M (median of recent 5yr)

Growth: 12%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$57.76

49% downside

EPS: $2.33

Target P/E: 54×

Formula: EPS × P/E

P/E Fair Value

$125.82

+11% upside