The Q4 revenue beat and strong Q1 guidance (34% YoY growth at midpoint) signal continued momentum, but the GAAP EPS miss vs consensus tempers the read. Watch the Q1 2027 earnings call for details on the new 6.5%-7.0% operating margin goal trajectory and free cash flow conversion toward the $100M+ target.
Price Chart
Executive Summary
Plexus reported fiscal Q4 2026 revenue of $1.427B (above the $1.36B consensus and above its own $1.33B-$1.38B guidance range) and GAAP diluted EPS of $2.51 (vs. consensus $2.55, a slight miss). Non-GAAP diluted EPS was $2.84, above the company's $2.47-$2.63 guidance. Fiscal 2026 full-year revenue reached a record $4.965B, up 23% YoY. The company initiated Q1 2027 revenue guidance of $1.410B-$1.460B and non-GAAP EPS guidance of $2.46-$2.62, and introduced a new non-GAAP operating margin goal of 6.5%-7.0%.
Key Financial Metrics
Key Facts
- Fiscal Q4 2026 revenue of $1.427B, above consensus of $1.36B and above guidance of $1.330B-$1.380B
- GAAP diluted EPS of $2.51 vs consensus $2.55 (miss of -1.6%, in_line per ±2% rule)
- Non-GAAP diluted EPS of $2.84, above guidance of $2.47-$2.63
- Fiscal 2026 full-year revenue of $4.965B, up 23% year-over-year from $4.033B
- Fiscal 2026 GAAP diluted EPS of $7.41 vs $6.26 in fiscal 2025
- Fiscal 2026 non-GAAP operating margin of 6.2%, up from 5.9% in fiscal 2025
- Q1 2027 guidance: revenue $1.410B-$1.460B (midpoint up 34% YoY), non-GAAP EPS $2.46-$2.62
- New non-GAAP operating margin goal of 6.5% to 7.0%, up from prior 6% goal
- Fiscal 2027 free cash flow expected to be at least $100 million
- Fiscal 2026 ROIC of 15.8%, economic return of 6.8% above 9.0% WACC
- Fiscal 2026 cash cycle of 62 days
- Completed $85.0M in share repurchases in fiscal 2026; new $100M authorization for fiscal 2027
Financial Impact
Revenue beat consensus by ~$67M (4.9%), GAAP EPS slightly below consensus by $0.04; non-GAAP EPS above guidance midpoint by $0.29
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Americas | $456.0M | +35.7% |
| Asia-Pacific | $861.0M | +42.3% |
| Europe, Middle East and Africa | $115.0M | -3.4% |
Risk Factors
- GAAP EPS of $2.51 slightly below consensus of $2.55
- Fiscal 2026 free cash flow was negative $28.9M due to working capital investment for growth
- Top 10 customer concentration rose to 56% of Q4 revenue, up 7pp YoY
- Inventory increased significantly to $1.675B from $1.230B a year ago
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000785786-26-000062 |
| Document: plxs-20261028.htm | 0000785786-26-000062 |
| Document: 0000785786-26-000062-index-headers.html | 0000785786-26-000062 |
| Document: 0000785786-26-000062-index.html | 0000785786-26-000062 |
| Document: 0000785786-26-000062.txt | 0000785786-26-000062 |
| 8-K Data (Synthetic) | 0000785786-26-000062 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 today | Institutional Cluster | $204.20 | awaiting T+1 | awaiting T+1 | $207.96 (+1.84%) |
Oct 28, 2026 2d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 2d ago | Press Release | $216.32 $207.96 | ▼ −3.86% | ▼ −2.09% | $207.96 (−3.86%) |
Aug 24, 2026 9w ago | 8-K | $240.94 $244.52 | ▲ +1.49% | ▲ +1.46% | $207.96 (−13.69%) |
Jul 29, 2026 13w ago | Press Release | $241.99 $251.34 | ▲ +3.86% | ▲ +3.16% | $207.96 (−14.06%) |
Jul 15, 2026 15w ago | Press Release | $248.80 | awaiting T+1 | awaiting T+1 | $207.96 (−16.41%) |
Jun 18, 2026 19w ago | Institutional Cluster | $299.97 $303.82 | ▲ +1.28% | ▲ +1.60% | $207.96 (−30.67%) |
Jun 8, 2026 20w ago | Insider Cluster | $281.48 $275.51 | ▼ −2.12% | ▼ −0.54% | $207.96 (−26.12%) |
Jun 1, 2026 21w ago | Press Release | $271.40 $280.12 | ▲ +3.21% | ▲ +3.07% | $207.96 (−23.38%) |
May 6, 2026 25w ago | Insider Cluster | $260.71 $266.55 | ▲ +2.24% | ▲ +1.41% | $207.96 (−20.23%) |
US Market Status
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