Logo

FN

Fabrinet

FN

Fabrinet • NYSE
$459.41 ▲ 2.30% (+10.35)
Market Cap $16.46 B
52w High $498.00
52w Low $148.55
Dividend Yield 0%
P/E 47.41
Volume 275.07K
Outstanding Shares 35.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $978.128M ▲ $22.246M ▲ $92.964M ▲ 9.504% ▼ $2.68 ▲ $116.288M ▲
Q4-2025 $909.692M ▲ $22.235M ▼ $87.207M ▲ 9.586% ▲ $2.44 ▲ $107.446M ▲
Q3-2025 $871.799M ▲ $23.327M ▲ $81.29M ▼ 9.324% ▼ $2.26 ▼ $99.723M ▼
Q2-2025 $833.608M ▲ $21.252M ▼ $86.636M ▲ 10.393% ▲ $2.4 ▲ $107.935M ▲
Q1-2025 $804.228M $22.088M $77.394M 9.623% $2.14 $93.509M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $968.772M ▲ $3.009B ▲ $947.595M ▲ $2.061B ▲
Q4-2025 $934.244M ▼ $2.831B ▲ $849.62M ▲ $1.982B ▲
Q3-2025 $950.677M ▲ $2.619B ▲ $712.107M ▲ $1.907B ▲
Q2-2025 $934.631M ▲ $2.542B ▲ $699.434M ▲ $1.843B ▲
Q1-2025 $908.877M $2.439B $612.413M $1.827B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $95.926M ▲ $102.568M ▲ $-80.96M ▼ $-22.965M ▼ $-1.424M ▼ $57.302M ▲
Q4-2025 $87.207M ▲ $55.093M ▼ $-33.17M ▲ $-22.615M ▲ $-480K ▲ $4.459M ▼
Q3-2025 $81.29M ▼ $74.186M ▼ $-137.052M ▼ $-34.979M ▲ $-96.757M ▼ $45.381M ▼
Q2-2025 $86.636M ▲ $115.904M ▲ $-44.08M ▲ $-69.194M ▼ $2.978M ▲ $94.004M ▲
Q1-2025 $77.394M $83.182M $-71.994M $-20.22M $-9.289M $62.932M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Optical Communications
Optical Communications
 $650.00M ▲$660.00M ▲$690.00M ▲$340.00M ▼
Automotive
Automotive
 $100.00M ▲$130.00M ▲$0 ▼$0 ▲
Datacom
Datacom
 $300.00M ▲$250.00M ▼$0 ▼$0 ▲
Others
Others
 $40.00M ▲$40.00M ▲$0 ▼$0 ▲
Telecom
Telecom
 $350.00M ▲$410.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Fabrinet’s income statement shows a business that has grown steadily over several years while keeping its profitability intact. Revenue has climbed consistently, and profits have grown at a similar pace, which suggests growth is not coming at the expense of margins. Gross and operating margins appear stable to slightly better over time, indicating good cost control in a complex manufacturing environment. Earnings per share have grown strongly, helped by both higher profits and disciplined capital management. Overall, the company looks like a scaled, profitable operator rather than a high-growth, low-profit story.

Balance Sheet

Balance Sheet The balance sheet looks conservative and solid. Total assets have expanded meaningfully as the company has grown, but this has been funded mainly through retained earnings, not by piling on debt. Debt levels are very low, and equity has steadily increased, pointing to a business that reinvests its profits and maintains financial flexibility. Cash balances move around year to year but remain healthy relative to the size of the business. This gives Fabrinet room to invest in capacity and technology while being resilient to industry swings.

Cash Flow

Cash Flow Fabrinet generates consistent positive cash flow from operations, which is a good sign that reported profits are backed by real cash. Free cash flow has been positive each year, though somewhat volatile as the company increases spending on equipment and facilities to support growth. Capital spending is meaningful but not extreme, suggesting a balanced approach between expanding capacity and protecting cash. The pattern points to a business that can largely fund its own growth without relying heavily on outside financing, while still having room to manage downturns.

Competitive Edge

Competitive Edge Fabrinet occupies a specialized niche in complex optical and electro-mechanical manufacturing, where precision and reliability matter more than lowest possible cost. Its deep integration with customers, involvement from early design through mass production, and focus on difficult, high-mix products create switching costs that favor long-term relationships. Vertical integration, scale in optical packaging, and facilities in lower-cost regions further strengthen its position versus more generic contract manufacturers. Partnerships with leading technology players, including in AI infrastructure, reinforce its reputation and help secure a pipeline of advanced projects. The main risks are exposure to technology cycles, reliance on large customers, and concentration of production in specific geographies.

Innovation and R&D

Innovation and R&D Innovation at Fabrinet is less about flashy new products of its own and more about advanced manufacturing capabilities that enable customers’ next-generation technologies. The company is heavily involved in cutting-edge optical packaging, high-speed data center transceivers, and emerging areas like co-packaged optics. Its proprietary processes, customized software tools, and in-house optics production suggest continuous process innovation rather than one-time breakthroughs. Fabrinet is also extending its precision expertise into automotive, industrial, and medical markets, which can diversify its growth drivers. Large capacity expansions, such as the new building in Thailand, indicate confidence in future demand but also raise execution and utilization risks if industry conditions soften.

Summary

Overall, Fabrinet combines steady growth, solid profitability, and a conservative balance sheet with a clear focus on complex, high-value manufacturing for the communications and AI infrastructure ecosystem. Financially, it has grown revenues and earnings at a healthy pace while keeping leverage very low and generating positive free cash flow. Strategically, it benefits from strong customer relationships, specialized expertise, and alignment with long-term trends like cloud, AI, and advanced connectivity, while gradually diversifying into automotive and medical applications. Key uncertainties include the cyclic nature of networking and data center spending, dependence on a relatively small number of major customers, rapid technology shifts in optics, and concentration of manufacturing in Thailand. Taken together, Fabrinet looks like a disciplined, niche leader in a critical part of the tech supply chain, with both meaningful opportunities and typical industry risks to monitor.

NEWS

November 3, 2025 · 4:15 PM UTC

Fabrinet Announces First Quarter Fiscal Year 2026 Financial Results

Read more

October 20, 2025 · 4:15 PM UTC

Fabrinet to Announce First Quarter Fiscal Year 2026 Financial Results on November 3, 2025

Read more

October 17, 2025 · 7:00 AM UTC

Fabrinet Announces Retirement of Founder and Chairman Tom Mitchell After 25 Years of Visionary Leadership

Read more

October 16, 2025 · 4:15 PM UTC

Fabrinet Appoints Caroline Dowling to Board of Directors

Read more