AI-extracted from the 10-Q filed 2026-08-06 — Q3 FY2026 (quarter ended July 4, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Plexus delivered $1.3B in Q3 revenue, +28% YoY, driven by APAC semiconductor-capital wins and AMER production ramps, though gross margin held flat at 10.1% amid customer mix headwinds.
Biggest Revenue Drivers
APAC$773.7M+30.4% YoY
Overall increased customer end-market demand and semi-cap wins reflecting share gains; production ramps of new products for existing customers.
AMER$427.7M+37.2% YoY
Production ramps of new products for existing customers and new customer wins; increased end-market demand, partially offset by customer disengagements.
Biggest Revenue Drivers
Total revenue: $1,304.8M+28.1% YoY
APAC$773.7M+30.4% YoY
Overall increased customer end-market demand and semi-cap wins reflecting share gains; production ramps of new products for existing customers.
AMER$427.7M+37.2% YoY
Production ramps of new products for existing customers and new customer wins; increased end-market demand, partially offset by customer disengagements.
EMEA$109.4M-6.6% YoY
Customer disengagement and decreased end-market demand, partially offset by production ramps for existing customers.
Largest Expense Items
Cost of sales$1,173.4M+28.2% YoY
Driven by increased net sales, higher fixed costs and customer mix shift; approximately 89% variable and 88% material/component costs.
Margins: Gross margin remained flat at 10.1% despite 28% revenue growth, as fixed cost increases and unfavorable customer mix shifts offset pricing gains. Operating margin compressed 60 basis points to 4.7% primarily due to $12.9M in accelerated stock compensation from executive retirements.
Watch Items from the Filing
Inventory surged to $1.5B (up $258M YoY) to support program ramps; working capital intensity increased with cash conversion cycle days up slightly despite inventory management efforts.
Effective tax rate jumped to 23.8% (Q3) from 9.5% prior year due to global minimum tax implementation across multiple jurisdictions; FY2026 guidance 16–18%.
Free cash flow turned negative at -$35.3M YTD (vs. +$56.8M prior year) driven by $297.5M inventory build and higher receivables, despite $39M operating cash flow.
Credit facility refinanced June 5, 2026, extending maturity to June 2031 with $500M commitment (expandable to $750M); average daily borrowings increased to $127.6M from $33.3M.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About PLEXUS CORP (PLXS): stock profile, AI score and financials
PLEXUS CORP (PLXS) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores PLXS at 62.2/100 on a composite quality score built from its SEC filings, placing it at rank #728 of 2,925 stocks — the top 25% of the AI-ranked universe. PLXS scores in the top quartile across revenue growth (97.6). Areas of concern include institutional flow (24.3) and free cash flow (31.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q3 2026), PLEXUS CORP reports quarterly revenue of $1.3M, net income of $43.0M, free cash flow of $-754.0K. Top institutional holders of PLXS by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, DISCIPLINED GROWTH INVESTORS, based on the most recent SEC filings. PLXS trades on the Nasdaq exchange and files with the SEC under CIK 785786. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PLXS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for PLEXUS CORP directly from SEC EDGAR.