ARROW ELECTRONICS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ARROW ELECTRONICS, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	23,825	26,813	29,677	28,917	28,673	34,477	37,124	33,107	27,923	30,853
Cost of revenue	20,344	23,198	25,976	25,618	25,482	30,275	32,288	28,958	24,631	27,386
Gross profit	3,144	3,357	3,701	3,298	3,191	4,202	4,837	4,149	3,292	3,467
Selling, general and administrative	2,047	2,162	2,303	2,192	2,087	2,435	2,567	2,413	2,218	2,391
Operating income	877	946	1,148	108	895	1,557	2,068	1,471	769	822
Interest income	18.1	31.2	47.9	54.8	22.6	14.7	33.7	66.4	54.5	46.8
Pre-tax income	235	116	187	-558	105	1,436	1,884	1,164	489	718
Income tax	191	287	188	88.3	173	326	449	255	95.8	148
Net income to minority interests	1.97	5.2	5.38	3.92	2.03	2.27	8.27	5.86	1.43	-1.57
Net income	523	402	716	-204	584	1,108	1,427	904	392	571
EBITDA	1,036	1,099	1,334	297	1,084	1,752	2,256	1,652	932	960
EPS, basic	5.75	4.54	8.19	-2.44	7.49	15.29	22.01	16.03	7.36	11.03
EPS, diluted	5.68	4.48	8.10	-2.44	7.43	15.10	21.80	15.84	7.29	10.93
Shares, basic (weighted)	91	88.7	87.5	83.6	78	72.5	64.8	56.4	53.3	51.8
Shares, diluted (weighted)	92	89.8	88.4	83.6	78.6	73.4	65.5	57	53.8	52.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	534	730	509	300	374	222	177	218	189	306
Receivables	6,747	8,126	8,945	8,483	9,205	11,124	12,323	12,238	13,031	19,739
Inventory	2,856	3,303	3,879	3,477	3,287	4,202	5,319	5,187	4,710	5,082
Other current assets	180	256	275	266	287	345	521	684	472	533
Total current assets	10,317	12,414	13,608	12,526	13,153	15,893	18,340	18,327	18,401	25,660
Property, plant and equipment	756	838	825	803	800	683	596	531	469	475
Lease right-of-use assets				278	306	268	278	270	251	249
Goodwill	2,392	2,470	2,625	2,061	2,115	2,080	2,028	2,050	2,055	2,120
Intangible assets	337	286	373	272	234	195	159	127	96.7	77
Other non-current assets	316	362	270	651	676	620	575	627	678	687
Total assets	14,206	16,459	17,784	16,401	17,054	19,536	21,763	21,726	21,758	29,078
Accounts payable	5,774	6,757	7,632	7,046	7,938	9,617	10,460	10,070	11,047	17,384
Accrued liabilities	821	842	912	881	1,034	1,326	1,339	1,464	1,239	1,461
Short-term debt	93.8	357	246	331	159	383	590	1,654	350	0.34
Total current liabilities	6,689	7,955	8,790	8,258	9,131	11,326	12,390	13,188	12,636	18,845
Long-term debt	2,696	2,933	3,239	2,640	2,098	2,244	3,183	2,154	2,774	3,085
Lease liabilities				252	261	222	227	210	198	187
Other non-current liabilities	355	573	379	636	676	624	579	507	516	489
Total liabilities	9,743	11,461	12,408	11,534	11,905	14,195	16,152	15,849	15,926	22,419
Total debt	2,696	2,933	3,239	2,640	2,098	2,244	3,183	2,154	2,774	3,085
Paid-in capital	1,112	1,114	1,136	1,150	1,166	1,190	1,209	553	562	587
Retained earnings	5,197	5,597	6,335	6,131	6,680	7,788	9,215	5,790	5,981	6,552
Treasury stock	-1,637	-1,762	-1,972	-2,333	-2,777	-3,629	-4,637	-298	-328	-484
Other comprehensive income	-384	-125	-299	-262	-105	-192	-365	-298	-509	-127
Shareholders' equity	4,413	4,949	5,325	4,812	5,089	5,282	5,546	5,805	5,761	6,585
Minority interests	52.2	48.7	51.4	54.5	59.6	58.6	65	71.8	70.4	74
Total equity	4,463	4,998	5,376	4,866	5,149	5,341	5,611	5,877	5,832	6,659
Total liabilities and equity	14,206	16,459	17,784	16,401	17,054	19,536	21,763	21,726	21,758	29,078

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	525	407	722	-200	586	1,110	1,435	909	394	570
Depreciation and amortization	159	154	186	190	189	195	187	181	163	138
Stock-based compensation	39.8	39.1	46.2	41.1	35.3	36.1	42.9	41.6	34.6	27.9
Deferred income tax	28.7	38.4	1.24	-50.3	29.7	24.7	-13.1	-94	-99.9	-36.2
Change in receivables	-601	-1,079	-1,007	339	-541	-2,109	-1,430	189	-1,013	-6,342
Change in inventory	-404	-380	-619	383	244	-961	-1,166	139	421	-286
Change in payables	582	817	936	-522	761	1,767	946	-457	1,092	6,108
Cash from operations	360	125	273	858	1,360	419	-33.1	705	1,130	64
Capital expenditures	-165	-204	-135	-143	-124	-83.1	-78.8	-83.3	-92.7	-101
Acquisitions	-64.8	-3.63	-332	0	0		0	0	-34.8	0
Cash from investing	-241	-189	-463	-174	-139	-60.1	-57.7	-72.3	-94.4	23.6
Debt repaid	0	-559	-300	0
Stock issued	19	22.2	8.82	16.9	21	47	17.3	17	5.35	3.45
Share buybacks	-216	-174	-243	-404	-484	-912	-1,049	-770	-265	-162
Cash from financing	162	257	-36.8	-906	-1,227	-463	110	-666	-957	-206
Exchange rate effect	-19.2	3.22	6.35	12.7	79.6	-47	-64.3	74.2	-108	236
Net change in cash	261	196	-221	-209	73.5	-151	-45.3	41.1	-29.2	118
Free cash flow	195	-79.4	137	715	1,236	336	-112	622	1,038	-37.2
Interest paid	142	157	214	210	138	113	176	274	199	163
Income taxes paid	190	231	226	189	160	221	384	538	231	195

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $232.80 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.3%	Gross profit / revenue.
Operating margin	3.4%	Operating income / revenue.
EBITDA margin	3.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.9%	Pre-tax income / revenue.
Net margin	2.3%	Net income / revenue.
FCF margin	2.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.6%	Cash from operations / revenue.
Effective tax rate	22.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.1%	Net income / average total assets.
Return on invested capital (ROIC)	10.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	7.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-6.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	5.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-10.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	1.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	7.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-26.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-1.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	3.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-24.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-2.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	45.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-26.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-0.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	49.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-20.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-94.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-45.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-103.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	14.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	33.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-7.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-7.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.22x	Current assets / current liabilities.
Quick ratio	0.98x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.01x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.29x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	5.3%	Total debt / total assets.
Liabilities / assets	81.6%	Total liabilities / total assets.
Net debt	$1.81B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.34x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$6.25B	Current assets - current liabilities.
Goodwill and intangibles / assets	5.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$4.83B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.94x	Revenue / average total assets.
Fixed asset turnover	78.0x	Revenue / average property, plant and equipment.
Inventory turnover	5.36x	Cost of revenue / average inventory.
Days inventory	68 days	365 x average inventory / cost of revenue.
Receivables turnover	1.28x	Revenue / average receivables.
Days sales outstanding	285 days	365 x average receivables / revenue.
Days payables	311 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	42 days	Days inventory + days sales outstanding - days payables.
FCF conversion	101.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$15.65	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$692.63	Revenue / diluted weighted shares.
FCF per share	$15.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$18.05	Cash from operations / diluted weighted shares.
Book value per share	$135.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$93.09	Tangible book value / shares outstanding.
Cash per share	$4.72	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	15.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$11.85B	Share price x shares outstanding.
Enterprise value	$13.66B	Market cap + total debt - cash - short-term investments.
P/E	14.6x	Market cap / net income. Only when net income is positive.
P/S	0.33x	Market cap / revenue.
P/B	1.69x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.45x	Market cap / tangible book value, when positive.
P/FCF	14.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.7x	Market cap / cash from operations, when positive.
EV/Sales	0.38x	Enterprise value / revenue.
EV/EBIT	11.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.1x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.0%	Free cash flow / market cap.
Earnings yield	6.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.1%	(Dividends paid + share buybacks) / market cap.

What was ARROW ELECTRONICS, INC.'s revenue in fiscal 2025?

ARROW ELECTRONICS, INC. reported revenue of $30.85B for fiscal 2025, 10.5% higher than the year before.

Was ARROW ELECTRONICS, INC. profitable in fiscal 2025?

Yes. Net income was $571.3M, a net margin of 1.9%.

How much free cash flow did ARROW ELECTRONICS, INC. generate in fiscal 2025?

Cash from operations of $64.0M minus capital expenditures of $101.3M left free cash flow of -$37.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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