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AVT

Avnet, Inc.

AVT

Avnet, Inc. • NASDAQ
$47.51 ▲ 0.59% (+0.28)
Market Cap $3.86 B
52w High $57.24
52w Low $39.22
Dividend Yield 1.34%
P/E 17.6
Volume 195.12K
Outstanding Shares 81.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $5.899B ▲ $472.733M ▼ $51.745M ▲ 0.877% ▲ $0.62 ▲ $167.339M ▲
Q4-2025 $5.618B ▲ $520.233M ▲ $6.089M ▼ 0.108% ▼ $0.072 ▼ $97.774M ▼
Q3-2025 $5.315B ▼ $444.602M ▲ $87.919M ▲ 1.654% ▲ $1.02 ▲ $168.272M ▼
Q2-2025 $5.663B ▲ $440.725M ▼ $87.253M ▲ 1.541% ▲ $1 ▲ $183.13M ▲
Q1-2025 $5.604B $465.142M $58.956M 1.052% $0.67 $172.991M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $175.465M ▼ $12.414B ▲ $7.566B ▲ $4.848B ▼
Q4-2025 $192.428M ▲ $12.119B ▲ $7.107B ▲ $5.011B ▲
Q3-2025 $188.912M ▲ $11.712B ▼ $6.827B ▼ $4.885B ▲
Q2-2025 $172.136M ▼ $11.943B ▼ $7.099B ▼ $4.844B ▼
Q1-2025 $267.521M $12.598B $7.56B $5.038B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $51.745M ▲ $-144.584M ▼ $-24.509M ▲ $155.138M ▲ $-16.963M ▼ $-169.173M ▼
Q4-2025 $6.089M ▼ $139.476M ▼ $-59.606M ▼ $-79.835M ▲ $3.516M ▼ $79.876M ▼
Q3-2025 $87.919M ▲ $140.876M ▼ $-16.733M ▲ $-100.944M ▲ $16.776M ▲ $114.137M ▼
Q2-2025 $87.253M ▲ $337.827M ▲ $-29.342M ▲ $-403.38M ▼ $-95.385M ▼ $308.468M ▲
Q1-2025 $58.956M $106.325M $-31.446M $-109.367M $-43.42M $74.549M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q1-2026
Electronic Components
Electronic Components
 $5.26Bn ▲$5.32Bn ▲$4.95Bn ▼$5.50Bn ▲
Farnell
Farnell
 $350.00M ▲$350.00M ▲$370.00M ▲$400.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has come down from its recent high, reflecting a softer demand environment after a strong upcycle, but it remains at a healthy level for a large global distributor. Profitability has also stepped down: gross profit, operating income, and net income are all lower than the peak years, showing the typical cyclicality of electronics distribution and some margin pressure. Even so, the company is still clearly profitable, with earnings well above where they were a few years ago, just not at prior boom-time levels. Overall, this looks like a mature, cyclical business that is past the peak of its recent cycle but still earning solid profits.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown in size over the past few years, with total assets trending upward. Debt has increased compared with earlier years, but shareholders’ equity has also risen, so leverage does not look out of control. The cash balance is relatively small, which is common for distributors that rely on credit lines and short-term financing rather than large cash piles. In broad terms, the company appears reasonably capitalized, but it is not running with an unusually conservative balance sheet, so maintaining good access to funding remains important.

Cash Flow

Cash Flow Cash generation has improved meaningfully in the last two years. Earlier in the period, the company reported solid accounting profits but struggled with negative operating cash flow, likely tied to heavy working capital needs. More recently, cash from operations has turned positive and free cash flow has followed, helped by modest capital spending requirements. This shift suggests better working capital management and a more cash-efficient phase of the cycle. Overall, the recent pattern points to a healthier, more self-funding cash profile than in the middle of the five-year window.

Competitive Edge

Competitive Edge Avnet operates with a sizable global footprint and long-standing relationships with major semiconductor and electronics suppliers, which helps it secure product availability and breadth of offering. Its key edge is moving beyond simple box-shifting into value-added services: design and engineering support, supply chain management, and lifecycle services for customers. The Farnell acquisition broadened its reach to design engineers and smaller customers, allowing Avnet to cover everything from early prototyping to large-scale production. This end-to-end model, combined with scale and logistics know‑how, gives Avnet a solid competitive position, even in a relatively low-margin, competitive industry.

Innovation and R&D

Innovation and R&D For a distributor, Avnet is leaning more heavily into technology solutions than many peers. The IoTConnect platform, integrations with major cloud providers, and a focus on edge AI and computer vision show a push to become a solutions partner rather than just a components provider. Design services, embedded compute offerings under the Tria Technologies brand, and AI/ML solution support are all aimed at locking in customers earlier in their product development cycle. While this is not traditional "R&D" in the sense of a chip designer, it represents meaningful investment in software platforms, tools, and specialized engineering talent that can deepen customer relationships and potentially support better margins over time.

Summary

Avnet looks like a mature technology distributor that has come off a recent earnings peak but remains firmly profitable. The balance sheet is reasonably sound, with growing equity and manageable leverage, though not a large cash cushion. Cash flow has improved notably, transitioning from a working-capital-heavy phase to one where profits are better converting into free cash. Competitively, Avnet’s strength lies in its global scale, supplier relationships, and its evolution into a solutions provider through design services, supply chain offerings, and platforms like IoTConnect and Tria. The key opportunity is whether these higher-value services and innovation efforts can offset the natural cyclicality and tight margins of the distribution business and sustain more resilient profit and cash flow through future cycles.

NEWS

November 24, 2025 · 8:00 AM UTC

Avnet to Participate in the Nasdaq Investor Conference on December 9

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November 20, 2025 · 7:00 PM UTC

Avnet Declares Regular Quarterly Dividend

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October 29, 2025 · 8:00 AM UTC

Avnet Reports First Quarter 2026 Financial Results

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October 15, 2025 · 8:00 AM UTC

Avnet to Report First Quarter Fiscal Year 2026 Earnings on October 29

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October 7, 2025 · 4:30 PM UTC

Dycom Industries, Inc. Appoints Phillip R. Gallagher to Board of Directors

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