QualityDipStocks / Technology · Electrical Products
Plexus PLXS
Outside our quality screen, so we don’t track its dips. It’s 31% below its 52-week high.
Outside our quality screen, trading well above our fair value estimate.
- Fair value est.
- $35.92−83%
- Market Value
- forming
- Off 52-wk high
- −31%
- Risk vs market
- Highbeta 1.76
3 bullish · 5 bearish See why
Repriced or dip?
Mixed signals
The price is 31% below its 52-week high (Jun 22), but the business held up: shares outstanding fewer shares, each owns more, operating margin +0.2 pts, revenue growth rate 0.0 pts.
Some numbers held up (shares outstanding fewer shares, each owns more, operating margin +0.2 pts, revenue growth rate 0.0 pts), others slipped (free cash flow −18.4%). The price is 31% below its 52-week high.
The price is 31% below its 52-week high, and the business changed too: free cash flow −18.4%.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 9 numbers, high vs now
- Revenue, last 12 months$4.0B → $4.0B (0.0%)about the same
- Revenue growth rate+1.8% → +1.8% a year (0.0 pts)held up
- Earnings per share, 12 months$6.87 → $6.79 (−1.1%)about the same
- Free cash flow, 12 months$76M → $62M (−18.4%)changed
- Operating margin5.5% → 5.7% (+0.2 pts)held up
- Shares outstanding−0.1% (fewer shares, each owns more)held up
- Stock vs its sector (Technology)stock −31%, sector median +2% since Jun 22changed
- Price fall vs business numbersprice −31%, revenue/EPS/FCF median −1% (shown, not scored)
- Valuation multipleP/FCF 109.5× at the high → 92.4× now (shown, not scored)
Business numbers as reported at the high (12 months to Apr 4, 2026) vs the latest filing (12 months to Jul 4, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($303.82, Jun 22) the price assumed about 40%/yr free-cash-flow growth; at the low ($132.74, Nov 20) about 10%; today about 36%. The last 3 years delivered 1%/yr (revenue).
Dashed line: what the last 3 years delivered, 1%/yr (revenue)
| High | Low | Now | |
|---|---|---|---|
| Price | $303.82Jun 22 | $132.74Nov 20 | $209.42 |
| Implied growth | +40% | +10% | +36% |
| P/E | 44.2× | 21.2× | 30.8× |
| P/FCF | 109.5× | 23.8× | 92.4× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 3.0% ±2 points. Bear = 10.5% and 1.0%; bull = 8.5% and 5.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is above even the bull case.
What the price implies To be worth today’s price, PLXS’s free cash flow would need to grow about 36% a year for five years; our estimate uses 3%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much PLXS moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings much more than the market, and its own price swings are 3.3× the S&P 500’s.
- Beta vs S&P 500
- 1.76
- Volatility
- 43% vs 13% SPY
- Correlation SPY
- 0.53
- Correlation QQQ
- 0.60
How it ranks
Where PLXS stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Not in the top quarter on any of these 5 measures
- Discount to fair value estimate83% · price above our base caseLowest 1%of 1,314
- Free cash flow yield1.1% · free cash flow vs market capLowest 21%of 1,391
- Dividends + buybacks yield1.5% · cash paid out or used to retire shares, vs market capLowest 35%of 1,836
- Revenue growth, last 12 months+1.8% · vs the 12 months beforeLowest 18%of 1,814
- Operating margin5.7% · of sales kept as operating profitLowest 29%of 1,288
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $35.92
Assumes 3.0% growth for 5 years (revenue grew 0.9% a year FY22–FY25; floored at 3%), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $2.27 a share (trailing 12 months to Jul 4, 2026), from the 10-Q filed Aug 6, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 3 of 5
GrowthDiluted EPS grew 56% to $6.26 in FY2025.
ValuationPrice / book of 3.7×, below the 5.9× median for the 261 Technology companies we cover.
Cash returnsShare count down 0.9% over 12 months, below the −0.3% median for the 239 Technology companies we cover.
Top bearish points 5 of 5
ValuationOur DCF fair value estimate is $35.92, 83% below the price.
Cash returnsFree cash flow fell 75% over the last 12 months vs the 12 months before.
GrowthSales grew only 0.9% a year from FY2022 to FY2025.
ValuationFree-cash-flow yield is just 1.1% (price / FCF 92×), so the price leans on future growth.
QualityDoesn’t pass our quality screen: no positive free cash flow.
All fundamentals
P/E 30.8 · FCF yield 1.1% · ROE 13%
Valuation
- P/E
- 30.8×Technology median 33.0×
- Price / FCF
- 92.4×
- FCF yield
- 1.1%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 1.42×
- Price / book
- 3.74×
- Market cap
- $5.7Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $4.0B
- Sales growth, 12 months
- +1.8%vs the 12 months before
- Sales growth, 3 yrs
- +0.9%/yrfrom FY2022
- Diluted EPS, 12 months
- $6.77
- EPS growth, last FY
- +56.1%
- Net income, 12 months
- $185M
- Net income growth
- +14%12 months vs before
Profitability
- Gross margin
- 11.4%
- Operating margin
- 5.7%
- Net margin
- 4.6%
- FCF margin
- 1.5%
- Return on equity
- 13%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $314M
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- 18.0×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $62M
- FCF growth, 12 months
- −75%
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $86M1.5% of market cap
- Share count, 1 year
- −0.9%diluted shares vs a year ago
- Stock-based comp
- $45M
Trailing 12 months to Jul 4, 2026; balance sheet at Jul 4, 2026. From Plexus’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $-0.1B · Sales +35%
- Free cash flow, 12 months−$0.1B
- Free-cash-flow yield1.1%
- Free-cash-flow margin−1%
- Gross margin10%
- Operating margin6%
- Return on invested capital15%
- Return on equity13%
- Sales growth (latest quarter vs year-ago quarter)+35%
- Net debt / EBITDA0.0×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $209.42
- Fair value est.base case$35.92−82.8%
- 52-wk lowlowest close, 1 year$132.74−36.6%
- PriceMon Nov 2 close$209.42you are here
- 52-wk highhighest close, 1 year$303.82+45.1%
Momentum & 52-week range
RSI 34 · 5 days −5.8%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
PLXS is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Plexus in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Electrical Products
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.