A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
AVNET INC
AVT
$7.8B
Mkt Cap
$89.42
-0.56%
AVNET INC (AVT) has a current P/E ratio of 36.3, compared to its historical median P/E of 8.8. The stock is currently considered Expensive based on its historical valuation range.
AVNET INC (AVT) has a 5-year average return on invested capital (ROIC) of 10.1%. This indicates solid capital allocation.
AVNET INC (AVT) has a market capitalization of $7.3B. It is classified as a mid-cap stock.
Yes, AVNET INC (AVT) pays a dividend with a trailing twelve-month yield of 1.54%. The company also returns capital through share buybacks, with a buyback yield of 2.57%.
Based on historical P/E analysis, AVNET INC (AVT) appears expensive. The current P/E of 36.3 is 315% above its historical median of 8.8. The estimated fair value CAGR (P/E method) is 44.4%.
AVNET INC (AVT) operates in the Wholesale-Electronic Parts & Equipment, Nec industry, within the Consumer Cyclical sector.
AVNET INC (AVT) reported annual revenue of $22.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Avnet operates as a global technology distributor with two primary business segments: Electronic Components (EC) and Farnell. The EC segment distributes semiconductors, passive components, and interconnect products to customers across industrial, data center, AI, and other end markets, with a significant presence in Asia (approximately 49% of EC sales), the Americas, and EMEA. Farnell specializes in single-board computers and on-the-board components, serving a similar customer base with a focus on higher-margin product categories. The company's business model is asset-light, operating on a distribution and fulfillment basis where it earns margins on the spread between supplier costs and customer selling prices, with unit economics characterized by inventory management (targeting below 80 days) and working capital optimization. Avnet's competitive moat derives from its scale, supplier relationships, and integrated digital platforms that combine Avnet Core and Farnell capabilities—referred to as "Power of One"—to provide supply chain expertise and visibility to both suppliers and customers. The company serves original equipment manufacturers, contract manufacturers, and end-user customers across geographies, with particular strength in Asia-Pacific, and generates revenue through transactional sales with gross margins that expand as higher-margin product mixes (particularly on-the-board components) grow relative to commodity categories.
【Recovery-driven margin expansion】 Management expects continued operating margin expansion across both EC and Farnell segments as Western regions (Americas and EMEA) recover from prior weakness, with EC targeting a 4% near-term operating margin goal within the next fiscal year and Farnell targeting double-digit operating margins by the second half of calendar 2027. The company anticipates sustained demand from data center and AI applications, though it expects component price increases to moderate from recent memory-driven levels, with pricing dynamics driven primarily by underlying input cost inflation rather than supply constraints. Backlog and book-to-bill ratios remain well above parity across all regions, providing visibility for inventory management and supplier coordination, while the company continues to prioritize working capital optimization with a near-term return on working capital goal of 16% by the second half of fiscal 2027. Capital allocation remains focused on debt reduction toward a target leverage of approximately 3x by the end of the calendar year, with excess cash flow to be deployed toward share repurchases once leverage targets are achieved.
| Metric | Target | Period |
|---|---|---|
| Sales | $7.3 billion–$7.6 billion | Q4 FY2026 (fiscal quarter ending September 2026) |
| Diluted earnings per share | $1.70–$1.80 | Q4 FY2026 (fiscal quarter ending September 2026) |
Sales (Q4 FY2026 (fiscal quarter ending September 2026)): “For the fourth quarter of fiscal 2026, we're guiding sales on the range of $7.3 billion-$7.6 billion”
Diluted earnings per share (Q4 FY2026 (fiscal quarter ending September 2026)): “For the fourth quarter of fiscal 2026, we're guiding sales on the range of $7.3 billion-$7.6 billion and diluted earnings per share in the range of $1.70-$1.80.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 25.0B | 22.2B | 23.8B | 26.5B | 24.3B | 19.5B |
| Net Income | 214M | 240M | 499M | 771M | 692M | 193M |
| EPS | $2.62 | $2.75 | $5.43 | $8.26 | $6.94 | $1.93 |
| Free Cash Flow | 33M | 577M | 464M | -908M | -268M | 41M |
| ROIC | 5.0% | 6.8% | 8.9% | 14.3% | 14.5% | 5.8% |
| Gross Margin | 10.5% | 10.7% | 11.6% | 12.0% | 12.2% | 11.5% |
| Debt/Equity | 0.59 | 0.53 | 0.59 | 0.64 | 0.38 | 0.30 |
| Dividends/Share | $1.38 | $1.32 | $1.24 | $1.16 | $1.00 | $0.85 |
| Operating Income | 567M | 514M | 844M | 1.2B | 939M | 281M |
| Operating Margin | 2.3% | 2.3% | 3.6% | 4.5% | 3.9% | 1.4% |
| ROE | 4.3% | 4.8% | 10.3% | 17.2% | 16.7% | 4.9% |
| Shares Outstanding | 82M | 87M | 92M | 93M | 100M | 100M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 27.5B | 17.7B | 16.7B | 17.4B | 19.0B | 19.5B | 17.6B | 19.5B | 24.3B | 26.5B | 23.8B | 22.2B | 25.0B |
| Gross Margin | 11.7% | 12.5% | 12.4% | 13.6% | 13.3% | 12.7% | 11.7% | 11.5% | 12.2% | 12.0% | 11.6% | 10.7% | 10.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.3B | 1.5B | 1.5B | 1.8B | 2.0B | 1.9B | 1.8B | 1.9B | 2.0B | 2.0B | 1.9B | 1.8B | 1.9B |
| EBIT | 790M | 653M | 573M | 444M | 209M | 366M | -6.8M | 281M | 939M | 1.2B | 844M | 514M | 567M |
| Op. Margin | 2.9% | 3.7% | 3.4% | 2.5% | 1.1% | 1.9% | -0.0% | 1.4% | 3.9% | 4.5% | 3.6% | 2.3% | 2.3% |
| Net Income | 546M | 572M | 507M | 525M | -156M | 176M | -31M | 193M | 692M | 771M | 499M | 240M | 214M |
| Net Margin | 2.0% | 3.2% | 3.0% | 3.0% | -0.8% | 0.9% | -0.2% | 1.0% | 2.8% | 2.9% | 2.1% | 1.1% | 0.9% |
| Non-Recurring | 0 | 59M | 0 | 3.8M | 187M | 192M | 119M | 15M | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 10.1% | 9.4% | 8.1% | 6.8% | 2.1% | 5.0% | -0.1% | 5.8% | 14.5% | 14.3% | 8.9% | 6.8% | 5.0% |
| ROE | 11.9% | 11.9% | 10.8% | 10.6% | -3.2% | 4.0% | -0.8% | 4.9% | 16.7% | 17.2% | 10.3% | 4.8% | 4.3% |
| ROA | 5.0% | 5.2% | 4.6% | 5.0% | -1.6% | 1.9% | -0.4% | 2.3% | 7.2% | 6.7% | 4.0% | 2.0% | 1.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 237M | 584M | 224M | -369M | 253M | 535M | 730M | 91M | -219M | -714M | 690M | 725M | 149M |
| Free Cash Flow | 114M | 451M | 87M | -489M | 98M | 412M | 657M | 41M | -268M | -908M | 464M | 577M | 33M |
| Owner Earnings | 99M | 440M | 88M | -572M | -5.4M | 324M | 521M | -70M | -358M | -841M | 570M | 616M | -1.1B |
| CapEx | 123M | 133M | 137M | 120M | 156M | 123M | 74M | 50M | 49M | 195M | 226M | 147M | 116M |
| Maint. CapEx | 92M | 82M | 80M | 155M | 235M | 181M | 182M | 132M | 102M | 89M | 87M | 72M | 1.2B |
| Growth CapEx | 31M | 51M | 58M | 0 | 0 | 0 | 0 | 0 | 0 | 106M | 140M | 76M | 0 |
| D&A | 92M | 82M | 80M | 155M | 235M | 181M | 182M | 132M | 102M | 89M | 87M | 72M | 1.2B |
| CapEx/OCF | 51.9% | 29.9% | 61.2% | N/A | 61.5% | 22.9% | 10.1% | 55.4% | N/A | N/A | 32.8% | 20.4% | 78.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 83M | 87M | 89M | 89M | 88M | 87M | 84M | 84M | 98M | 106M | 112M | 113M | 113M |
| Dividend Yield | 1.8% | 1.8% | 2.0% | 2.0% | 2.2% | 2.2% | 2.7% | 2.8% | 2.7% | 2.9% | 2.7% | 2.6% | 1.5% |
| Share Buybacks | 8.6M | 160M | 381M | 276M | 324M | 569M | 238M | 14M | 184M | 222M | 163M | 303M | 188M |
| Buyback Yield | 0.2% | 3.5% | 9.0% | 6.7% | 7.6% | 13.4% | 10.5% | N/A | 4.7% | 5.3% | 3.6% | 6.7% | 2.6% |
| Stock-Based Comp | 46M | 62M | 57M | 48M | 24M | 30M | 27M | 29M | 37M | 39M | 33M | 36M | 42M |
| Debt Repayment | 39M | 108M | 19M | 28M | 98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 2.0B | 1.0B | 1.5B | 943M | 1.0B | 1.2B | 948M | 1.0B | 1.5B | 2.8B | 2.6B | 2.5B | 2.7B |
| Cash & Equiv. | 929M | 933M | 1.0B | 836M | 621M | 546M | 477M | 200M | 154M | 288M | 311M | 192M | 202M |
| Long-Term Debt | 1.2B | 1.6B | 1.3B | 1.7B | 1.5B | 1.4B | 1.4B | 1.2B | 1.4B | 3.0B | 2.4B | 2.6B | 2.5B |
| Debt/Equity | 0.60 | 0.42 | 0.53 | 0.34 | 0.35 | 0.42 | 0.38 | 0.30 | 0.38 | 0.64 | 0.59 | 0.53 | 0.59 |
| Interest Coverage | 7.5 | 7.5 | 6.2 | 4.5 | 2.3 | 2.7 | -0.1 | 3.1 | 9.4 | 4.7 | 3.0 | 2.1 | 2.3 |
| Equity | 4.9B | 4.7B | 4.7B | 5.2B | 4.7B | 4.1B | 3.7B | 4.1B | 4.2B | 4.8B | 4.9B | 5.0B | 5.0B |
| Total Assets | 11.3B | 10.8B | 11.2B | 9.7B | 9.6B | 8.6B | 8.1B | 8.9B | 10.4B | 12.5B | 12.2B | 12.1B | 13.5B |
| Total Liabilities | 6.4B | 6.1B | 6.5B | 4.5B | 4.9B | 4.4B | 4.4B | 4.8B | 6.2B | 7.7B | 7.3B | 7.1B | 8.5B |
| Intangibles | 184M | 100M | 23M | 277M | 220M | 144M | 65M | 29M | 13M | 6.5M | N/A | N/A | N/A |
| Retained Earnings | 3.3B | 3.6B | 3.6B | 3.8B | 3.2B | 2.8B | 2.4B | 2.5B | 2.9B | 3.4B | 3.6B | 3.4B | 3.4B |
| Working Capital | 4.0B | 4.3B | 4.1B | 5.1B | 4.6B | 4.3B | 4.0B | 4.1B | 4.6B | 6.5B | 5.9B | 5.9B | 5.7B |
| Current Assets | 9.0B | 8.6B | 9.0B | 7.5B | 7.6B | 6.9B | 6.3B | 7.2B | 8.9B | 10.8B | 10.4B | 10.0B | 11.4B |
| Current Liabilities | 5.0B | 4.3B | 4.9B | 2.5B | 3.0B | 2.6B | 2.3B | 3.1B | 4.3B | 4.2B | 4.5B | 4.1B | 5.7B |
| Per Share Data | |||||||||||||
| EPS | 3.89 | 4.12 | 3.80 | 4.08 | -1.30 | 1.59 | -0.31 | 1.93 | 6.94 | 8.26 | 5.43 | 2.75 | 2.62 |
| Owner EPS | 0.71 | 3.17 | 0.66 | -4.44 | -0.04 | 2.92 | 5.20 | -0.70 | -3.59 | -9.01 | 6.20 | 7.06 | -13.22 |
| Book Value | 34.87 | 33.75 | 35.19 | 40.25 | 38.94 | 37.33 | 37.17 | 40.82 | 42.03 | 50.92 | 53.63 | 57.37 | 60.38 |
| Cash Flow/Share | 1.69 | 4.21 | 1.68 | -2.86 | 2.11 | 4.82 | 7.28 | 0.91 | -2.20 | -7.65 | 7.51 | 8.29 | 17.14 |
| Dividends/Share | 0.60 | 0.64 | 0.68 | 0.70 | 0.74 | 0.80 | 0.84 | 0.85 | 1.00 | 1.16 | 1.24 | 1.32 | 1.38 |
| Shares Out. | 140.3M | 138.8M | 133.3M | 128.7M | 120.3M | 110.9M | 100.3M | 100.1M | 99.8M | 93.3M | 91.8M | 87.4M | 82.0M |
| Valuation | |||||||||||||
| P/E Ratio | 8.8 | 8.1 | 8.4 | 7.9 | N/A | 24.1 | N/A | 18.6 | 5.6 | 5.4 | 9.1 | 18.9 | 34.2 |
| P/FCF | 41.9 | 10.3 | 48.9 | N/A | 43.9 | 10.3 | 3.5 | 88.4 | N/A | N/A | 9.8 | 7.9 | 223.1 |
| EV/EBIT | 7.4 | 6.1 | 10.2 | 9.3 | 23.2 | 14.2 | N/A | 15.7 | 5.7 | 5.7 | 8.7 | 13.4 | 17.8 |
| Price/Book | 1.0 | 1.0 | 0.9 | 0.8 | 0.9 | 1.0 | 0.6 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 1.5 |
| Price/Sales | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.3 |
| FCF Yield | 2.4% | 9.7% | 2.0% | -11.9% | 2.3% | 9.7% | 28.9% | 1.1% | -6.9% | -21.7% | 10.2% | 12.7% | 0.4% |
| Market Cap | 4.8B | 4.6B | 4.3B | 4.1B | 4.3B | 4.3B | 2.3B | 3.6B | 3.9B | 4.2B | 4.5B | 4.5B | 7.3B |
| Avg. Price | 32.22 | 34.18 | 33.76 | 34.65 | 33.17 | 36.43 | 31.38 | 30.32 | 36.66 | 39.92 | 45.97 | 50.35 | 89.42 |
| Year-End Price | 34.10 | 33.31 | 31.91 | 32.05 | 35.58 | 38.39 | 22.63 | 35.85 | 39.12 | 44.85 | 49.48 | 51.94 | 89.42 |
AVNET INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
AVNET INC trades at 36.3x trailing earnings, compared to its 15-year median P/E of 8.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 33.6x vs a median of 10.3x. The company's 5-year average ROIC is 10.1% with a gross margin of 11.6%. Total shareholder yield (dividends + buybacks) is 4.1%. At current prices, the estimated annualized return to fair value is +9.1%.
AVNET INC (AVT) has a net profit margin of 1.1%. This is a modest margin.
AVNET INC (AVT) generated $577 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AVNET INC (AVT) has a debt-to-equity ratio of 0.53. This indicates moderate leverage.
AVNET INC (AVT) reported earnings per share (EPS) of $2.75 in its most recent fiscal year.
AVNET INC (AVT) has a return on equity (ROE) of 4.8%. This indicates moderate shareholder returns.
AVNET INC (AVT) has a 5-year average gross margin of 11.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for AVNET INC (AVT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AVNET INC (AVT) has a book value per share of $57.37, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued operating margin expansion across both EC and Farnell segments as Western regions (Americas and EMEA) recover from prior weakness, with EC targeting a 4% near-term operating margin goal within the next fiscal year and Farnell targeting double-digit operating margins by the second half of calendar 2027. The company anticipates sustained demand from data center and AI applications, though it expects component price increases to moderate from recent memory-driven levels, with pricing dynamics driven primarily by underlying input cost inflation rather than supply constraints. Backlog and book-to-bill ratios remain well above parity across all regions, providing visibility for inventory management and supplier coordination, while the company continues to prioritize working capital optimization with a near-term return on working capital goal of 16% by the second half of fiscal 2027. Capital allocation remains focused on debt reduction toward a target leverage of approximately 3x by the end of the calendar year, with excess cash flow to be deployed toward share repurchases once leverage targets are achieved.
Based on recent SEC filings and earnings calls, AVNET INC (AVT) has provided the following forward guidance: Sales: $7.3 billion–$7.6 billion (Q4 FY2026 (fiscal quarter ending September 2026)); Diluted earnings per share: $1.70–$1.80 (Q4 FY2026 (fiscal quarter ending September 2026)).