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Celestica vs Flex: revenue, profit, margins and growth compared

Celestica brought in $12.4B of revenue in fiscal 2025, Flex $27.9B in fiscal 2026. Revenue changed by +28.5% at Celestica and +8.1% at Flex on the year before, so Celestica grew faster. Celestica kept 6.7% of its revenue as net profit, Flex 3.2%. Free cash flow was $458.3M at Celestica and $1.1B at Flex.

Side by side, latest fiscal year

CLSFLEX
Fiscal year endedFY2025 (December 31, 2025)FY2026 (March 31, 2026)
Revenue$12.4B$27.9B
Revenue growth+28.5%+8.1%
Net income$832.5M$880M
Net margin6.7%3.2%
Free cash flow$458.3M$1.1B
Free cash flow margin3.7%3.8%
Earnings per share (diluted)$7.16$2.33
Cash$595.6M$2.4B
Debt$776.5M$3.8B
Price to earnings51.049.2
Market value$42B$42.4B
Dividend yieldn/an/a
Rank by revenue in sector#50 of 530 · Technology#27 of 530 · Technology

Over the years

Revenue
CLS FY2018: $6.6BCLS FY2019: $5.9BCLS FY2020: $5.7BCLS FY2021: $5.6BCLS FY2022: $7.3BCLS FY2023: $8BCLS FY2024: $9.6BCLS FY2025: $12.4BFLEX FY2019: $26.2BFLEX FY2020: $24.2BFLEX FY2021: $24.1BFLEX FY2022: $24.6BFLEX FY2023: $28.5BFLEX FY2024: $26.4BFLEX FY2025: $25.8BFLEX FY2026: $27.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CLS $12.4BFLEX $27.9B
Net income
CLS FY2018: $98.9MCLS FY2019: $70.3MCLS FY2020: $60.6MCLS FY2021: $103.9MCLS FY2022: $180.1MCLS FY2023: $244.4MCLS FY2024: $428MCLS FY2025: $832.5MFLEX FY2019: $93MFLEX FY2020: $88MFLEX FY2021: $613MFLEX FY2022: $936MFLEX FY2023: $793MFLEX FY2024: $1BFLEX FY2025: $838MFLEX FY2026: $880MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CLS $832.5MFLEX $880M
Net margin
CLS FY2018: 1.5%CLS FY2019: 1.2%CLS FY2020: 1.1%CLS FY2021: 1.8%CLS FY2022: 2.5%CLS FY2023: 3.1%CLS FY2024: 4.4%CLS FY2025: 6.7%FLEX FY2019: 0.4%FLEX FY2020: 0.4%FLEX FY2021: 2.5%FLEX FY2022: 3.8%FLEX FY2023: 2.8%FLEX FY2024: 3.8%FLEX FY2025: 3.2%FLEX FY2026: 3.2%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CLS 6.7%FLEX 3.2%
Revenue growth
CLS FY2019: -11.2%CLS FY2020: -2.4%CLS FY2021: -2.0%CLS FY2022: +28.7%CLS FY2023: +9.8%CLS FY2024: +21.2%CLS FY2025: +28.5%FLEX FY2020: -7.6%FLEX FY2021: -0.4%FLEX FY2022: +2.1%FLEX FY2023: +15.7%FLEX FY2024: -7.3%FLEX FY2025: -2.3%FLEX FY2026: +8.1%FY19FY20FY21FY22FY23FY24FY25FY26
CLS +28.5%FLEX +8.1%
Free cash flow
CLS FY2022: $102.1MCLS FY2023: $201.1MCLS FY2024: $303MCLS FY2025: $458.3MFLEX FY2019: -$3.7BFLEX FY2020: -$2BFLEX FY2021: -$207MFLEX FY2022: $581MFLEX FY2023: $315MFLEX FY2024: $796MFLEX FY2025: $1.1BFLEX FY2026: $1.1BFY19FY20FY21FY22FY23FY24FY25FY26
CLS $458.3MFLEX $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Celestica and Flex

Which is bigger by revenue, Celestica or Flex?

Flex is bigger by revenue: $27.9B in fiscal 2026, against $12.4B for Celestica in fiscal 2025.

Which keeps more of its revenue as profit, Celestica or Flex?

Celestica had a net margin of 6.7% in fiscal 2025; Flex had 3.2% in fiscal 2026.

Which grew revenue faster, Celestica or Flex?

In their latest fiscal years revenue changed by +28.5% at Celestica and +8.1% at Flex.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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