Fabrinet

Listed Company

FNCIK 0001408710NYSELarge AcceleratedTelephone & Telegraph ApparatusE9FY ends Jun 27

Period

FY 2025

Revenue

$3.42B

Net Income

$332.53M

Total Assets

$2.83B

Equity

$1.98B

Shares Out

35.83M

Op. Cash Flow

$328.37M

Business

Fabrinet provides advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services for OEMs of complex products. It manufactures optical communications devices, tunable lasers, transceivers, active optical cables, industrial lasers, sensors and also designs and fabricates customized optics and glass components. The business operates through two principal offerings: integrated precision optical, electro-mechanical and electronic manufacturing services (including NPI, PCBA, advanced packaging, testing and supply chain management) and customized glass and crystal optics fabrication. Fabrinet sells to OEMs worldwide, with manufacturing and distribution across Asia-Pacific, China, the U.S., Israel and global customer channels.

Summary from filing dated 2025-08-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenues	3,419	2,883	2,645	2,262	1,879
Cost of revenues	−3,006	−2,527	−2,309	−1,984	−1,658
Gross profit	413	356	336	279	221
Selling, general and administrative expenses	−87	−78	−78	−74	−71
Restructuring and other related costs	−1	−32,000	−7	−135,000	−43,000
Operating income	324	278	252	205	151
Interest income	40	33	11	2	4
Interest expense	0	−124,000	−1	−432,000	—
Foreign exchange gain (loss), net	−9	382,000	−1	2	508,000
Other income (expense), net	−178,000	287,000	−159,000	−2	−3
Income before income taxes	355	311	260	207	150
Income tax expense	−23	−15	−12	−7	−2
Net income	333	296	248	200	148
Change in net unrealized gain (loss) on available-for-sale securities	10	2	3	−6	−1
Change in net unrealized gain (loss) on derivative instruments	2	3	2	−578,000	−5
Change in net retirement benefits plan prior service cost	0	330,000	473,000	622,000	584,000
Change in foreign currency translation adjustment	1	−17,000	−75,000	−245,000	585,000
Total other comprehensive income (loss), net of tax	13	5	5	−7	−5
Net comprehensive income	346	301	253	194	143
Basic earnings per share (in USD per share)	9.23	8.17	6.79	5.43	4.02
Diluted earnings per share (in USD per share)	9.17	8.1	6.73	5.36	3.95
Weighted average number of ordinary shares outstanding, basic (in shares)	36	36	37	37	37
Weighted average number of ordinary shares outstanding, diluted (in shares)	36	37	37	37	38

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	306	410	231	198	303
Short-term investments	628	449	319	280	245
Trade accounts receivable, net of allowance for expected credit losses of $1,344 and $1,629, respectively	759	592	532	453	337
Inventories	581	463	520	557	422
Prepaid expenses	38	11	8	12	11
Other current assets	116	88	43	25	23
Total current assets	2,429	2,013	1,653	1,525	1,353
Property, plant and equipment, net	381	307	310	292	241
Intangibles, net	2	2	2	4	4
Operating right-of-use assets	6	5	2	4	7
Deferred tax assets	13	10	12	10	9
Other non-current assets	623,000	485,000	635,000	652,000	2
Total non-current assets	403	326	327	310	264
Total Assets	2,831	2,339	1,980	1,836	1,616
Trade accounts payable	637	442	381	440	347
Fixed assets payable	41	14	14	9	19
Operating lease liabilities, current portion	2	1	1	2	3
Income tax payable	8	4	6	3	4
Accrued payroll, bonus and related expenses	25	22	24	20	20
Accrued expenses	31	20	20	25	17
Other payables	67	54	24	27	21
Total current liabilities	810	558	482	538	444
Deferred tax liability	2	5	5	6	5
Operating lease liabilities, non-current portion	4	4	66,000	1	4
Severance liabilities	31	24	22	18	19
Other non-current liabilities	3	2	2	2	3
Total non-current liabilities	40	35	29	43	59
Total Liabilities	850	593	511	582	504
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of June 27, 2025 and June 28, 2024)	0	0	0	0	0
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 39,602,152 shares and 39,457,462 shares issued as of June 27, 2025 and June 28, 2024, respectively; and 35,728,074 shares and 36,145,242 shares outstanding as of June 27, 2025 and June 28, 2024, respectively)	396,000	395,000	393,000	390,000	388,000
Additional paid-in capital	238	222	207	197	189
Less: Treasury shares (3,874,078 shares and 3,312,220 shares as of June 27, 2025 and June 28, 2024, respectively)	−360	−234	−195	−147	−87
Accumulated other comprehensive income (loss)	10	−3	−8	−13	−6
Retained earnings	2,093	1,761	1,465	1,217	1,016
Total Shareholders Equity	1,982	1,746	1,469	1,254	1,113
Total Liabilities and Shareholders Equity	2,831	2,339	1,980	1,836	1,616

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	53	49	44	39	36
Non-cash restructuring charges and other related costs	0	0	2	0	0
(Gain) loss on disposal of property, plant and equipment and intangibles	−70,000	62,000	−2	—	—
Amortization of discount (premium) of short-term investments	−5	−3	280,000	4	2
(Reversal of) allowance for expected credit losses	−285,000	664,000	−307,000	1	—
Unrealized loss (gain) on exchange rate and fair value of foreign currency forward contracts	5	−849,000	175,000	−3	−859,000
Amortization of fair value at hedge inception of interest rate swaps	0	−220,000	−587,000	−937,000	−1
Share-based compensation	33	28	28	28	25
Customer warrant	4	0	0	—	—
Deferred income tax expense (benefit)	−6	2	−3	−191,000	−3
Other non-cash expenses	131,000	310,000	724,000	1	−450,000
Trade accounts receivable	−166	−61	−77	−106	−62
Inventories	−118	56	37	−135	−112
Other current assets and non-current assets	−34	−47	−14	−6	−11
Trade accounts payable	194	60	−59	93	96
Income tax payable	4	−2	3	−761,000	1
Accrued expenses	13	1	785,000	—	—
Other payables	12	31	−4	—	—
Severance liabilities	4	3	4	1	3
Other current liabilities and non-current liabilities	1	−250,000	4	8	1
Net cash provided by operating activities	328	413	213	124	122
Purchase of short-term investments	−444	−436	−217	−198	−244
Proceeds from sales of short-term investments	0	40	30	19	79
Proceeds from maturities of short-term investments	279	272	150	134	180
Purchase of property, plant and equipment	−121	−48	−61	−90	−46
Purchase of intangibles	−738,000	−889,000	−911,000	−995,000	−2
Proceeds from disposal of property, plant and equipment	252,000	3	128,000	263,000	90,000
Net cash used in investing activities	−286	−170	−99	−136	−9
Repayment of long-term borrowings	0	−12	−15	−12	−12
Repayment of finance lease liability	0	0	−9,000	−7,000	−100,000
Repurchase of ordinary shares	−126	−39	−48	−60	−19
Withholding tax related to net share settlement of restricted share units	−21	−13	−18	−21	−12
Net cash used in financing activities	−147	−65	−81	−93	−43
Net increase (decrease) in cash and cash equivalents	−105	179	34	−104	70
Effect of exchange rate on cash and cash equivalents	1	63,000	−606,000	−527,000	−178,000
Interest	0	312,000	2	2	2
Taxes	24	16	14	9	8
Cash received for interest	34	30	11	2	4
Construction, software and equipment related payables	41	14	14	9	19

Filings

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