Technology · Technology Distributors
Price
$86.37
Market Cap
$7.1B
Employees
15,462
Beta
1.12
Avg Volume
1,356,440
CEO
Philip R. Gallagher
Business Description
Avnet, Inc., established in Phoenix, Arizona, in 1921, operates as a global technology distributor and solutions provider. The company specializes in marketing, selling, and distributing electronic components, with its business activities structured into two distinct segments: Electronic Components and Farnell. The Electronic Components division is responsible for the marketing, sales, and distribution of a diverse range of electronic components, including semiconductors, interconnect devices, passive and electromechanical components, and other integrated parts sourced from various manufacturers. This segment offers extensive support beyond mere distribution, providing "design chain" services such as technical design solutions for engineers, alongside engineering and technical resources crucial for product design, bill of materials development, and ongoing technical education and training. Additionally, it delivers "supply chain" solutions, offering logistical and support services to original equipment manufacturers (OEMs), electronic manufacturing service (EMS) providers, and electronic component manufacturers. It also provides integrated solutions, which involve the technical design, integration, and assembly of embedded products and systems, primarily for industrial applications. Its offerings extend to innovative embedded display solutions, including both touch and passive display technologies. Furthermore, it develops and manufactures standard board and industrial subsystems, as well as application-specific devices, allowing for the production of systems finely tuned to specific customer requirements. This segment caters to a wide spectrum of markets, including automotive, medical, defense, aerospace, telecommunications, industrial, and digital editing. The Farnell segment is dedicated to distributing kits, tools, electronic and industrial automation components, and test and measurement products, serving engineers and entrepreneurs alike. Avnet maintains a global presence, with operations spanning the Americas, Europe, the Middle East, Africa, and the Asia Pacific region.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
31.07
Stock Price: $86.37
EPS (Diluted): 2.78
EPS (Diluted): 2.78
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.91
Stock Price: $86.37
Total Equity: $5.01B
Shares: 87,413,000
Total Equity: $5.01B
Shares: 87,413,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
11.60
Market Cap: $7.08B
Total Debt: $2.66B
Cash: $192.43M
EBITDA: $626.24M
Total Debt: $2.66B
Cash: $192.43M
EBITDA: $626.24M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$7.3B
Market Cap: $7.08B
Total Debt: $2.66B
Cash: $192.43M
Total Debt: $2.66B
Cash: $192.43M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
10.7%
Gross Profit: $2.38B
Revenue: $22.20B
Revenue: $22.20B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
2.8%
Operating Income: $622.57M
Revenue: $22.20B
Revenue: $22.20B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
1.1%
Net Income: $240.22M
Revenue: $22.20B
Revenue: $22.20B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
4.8%
Net Income: $240.22M
Total Equity: $5.01B
Total Equity: $5.01B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
8.0%
Operating Income: $622.57M
Tax Rate: 4.1%
Equity: $5.01B
Total Debt: $2.66B
Cash: $192.43M
Tax Rate: 4.1%
Equity: $5.01B
Total Debt: $2.66B
Cash: $192.43M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.43
Current Assets: $10.02B
Current Liabilities: $4.13B
Current Liabilities: $4.13B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.53
Short-Term Debt: $87.28M
Long-Term Debt: $2.57B
Total Debt: $2.66B
Total Equity: $5.01B
Long-Term Debt: $2.57B
Total Debt: $2.66B
Total Equity: $5.01B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$253.98
Revenue: $22.20B
Shares: 87,413,000
Shares: 87,413,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$57.33
Total Equity: $5.01B
Shares: 87,413,000
Shares: 87,413,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$6.60
Operating CF: $724.50M
CapEx: -$147.47M
Shares: 87,413,000
CapEx: -$147.47M
Shares: 87,413,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.5%
Last Dividend: N/A
Stock Price: $86.37
Stock Price: $86.37
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $240.22M
Net Income: $240.22M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AVT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:41pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $19.5B | $24.3B | $26.5B | $23.8B | $22.2B |
| Cost of Revenue | $17.3B | $21.3B | $23.4B | $21.0B | $19.8B |
| Gross Profit | $2.2B | $3.0B | $3.2B | $2.8B | $2.4B |
| Operating Expenses | $2.0B | $2.0B | $2.0B | $1.9B | $1.8B |
| Operating Income | $281.4M | $939.0M | $1.2B | $844.4M | $622.6M |
| Net Income | $193.1M | $692.4M | $770.8M | $498.7M | $240.2M |
| EBITDA | $451.1M | $1.1B | $1.4B | $1.1B | $626.2M |
| EPS | $1.95 | $7.02 | $8.37 | $5.51 | $2.78 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:41pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $199.7M | $153.7M | $288.2M | $310.9M | $192.4M |
| Total Current Assets | $7.2B | $8.9B | $10.8B | $10.4B | $10.0B |
| Total Assets | $8.9B | $10.4B | $12.5B | $12.2B | $12.1B |
| Current Liabilities | $3.1B | $4.3B | $4.2B | $4.5B | $4.1B |
| Long-Term Debt | $1.2B | $1.4B | $3.0B | $2.4B | $2.6B |
| Total Liabilities | $4.8B | $6.2B | $7.7B | $7.3B | $7.1B |
| Total Equity | $4.1B | $4.2B | $4.8B | $4.9B | $5.0B |
| Retained Earnings | $2.5B | $2.9B | $3.4B | $3.6B | $3.4B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:41pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $90.9M | -$219.3M | -$713.7M | $690.0M | $724.5M |
| Capital Expenditure | -$50.4M | -$48.9M | -$194.7M | -$226.5M | -$147.5M |
| Free Cash Flow | $40.6M | -$268.2M | -$908.4M | $463.5M | $577.0M |
| Acquisitions (net) | -$18.4M | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$184.4M | -$221.7M | -$162.7M | -$303.5M |
| Net Change in Cash | -$277.3M | -$46.0M | $134.5M | $22.7M | -$118.5M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:13pm (9h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$26.8B $26.1B – $26.9B
|
$30.7B $29.4B – $32.0B
|
$33.6B $32.7B – $34.4B
|
$36.2B $35.1B – $37.1B
|
| EBITDA |
$888.9M $862.8M – $889.2M
|
$1.0B $972.7M – $1.1B
|
$1.1B $1.1B – $1.1B
|
$1.2B $1.2B – $1.2B
|
| Net Income |
$448.5M $445.5M – $451.6M
|
$703.7M $632.4M – $775.1M
|
$776.2M $746.6M – $800.3M
|
$904.7M $870.2M – $932.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:41pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +24.4% | +9.2% | -10.5% | -6.6% |
| Gross Profit Growth | +32.3% | +7.3% | -13.1% | -13.8% |
| Operating Income Growth | +233.7% | +26.4% | -28.9% | -26.3% |
| Net Income Growth | +258.5% | +11.3% | -35.3% | -51.8% |
| EBITDA Growth | +141.4% | +26.4% | -23.3% | -40.7% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:41pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-03 | $0.35 | 2026-05-20 | 2026-06-03 | 2026-06-17 |
| 2026-03-04 | $0.35 | 2026-02-19 | 2026-03-04 | 2026-03-18 |
| 2025-12-03 | $0.35 | 2025-11-20 | 2025-12-03 | 2025-12-17 |
| 2025-09-17 | $0.35 | 2025-08-21 | 2025-09-17 | 2025-09-26 |
| 2025-06-04 | $0.33 | 2025-05-14 | 2025-06-04 | 2025-06-18 |
| 2025-03-05 | $0.33 | 2025-02-20 | 2025-03-05 | 2025-03-19 |
| 2024-12-04 | $0.33 | 2024-11-21 | 2024-12-04 | 2024-12-18 |
| 2024-09-11 | $0.33 | 2024-08-19 | 2024-09-11 | 2024-09-25 |
| 2024-06-05 | $0.31 | 2024-05-15 | 2024-06-05 | 2024-06-18 |
| 2024-03-05 | $0.31 | 2024-02-15 | 2024-03-06 | 2024-03-20 |
| 2023-12-05 | $0.31 | 2023-11-16 | 2023-12-06 | 2023-12-20 |
| 2023-09-12 | $0.31 | 2023-08-29 | 2023-09-13 | 2023-09-27 |
| 2023-06-06 | $0.29 | 2023-05-22 | 2023-06-07 | 2023-06-21 |
| 2023-02-28 | $0.29 | 2023-02-15 | 2023-03-01 | 2023-03-15 |
| 2022-12-06 | $0.29 | 2022-11-17 | 2022-12-07 | 2022-12-21 |
| 2022-09-13 | $0.29 | 2022-08-31 | 2022-09-14 | 2022-09-28 |
| 2022-06-07 | $0.26 | 2022-05-24 | 2022-06-08 | 2022-06-22 |
| 2022-03-01 | $0.26 | 2022-02-16 | 2022-03-02 | 2022-03-16 |
| 2021-11-30 | $0.24 | 2021-11-18 | 2021-12-01 | 2021-12-15 |
| 2021-09-03 | $0.24 | 2021-08-24 | 2021-09-07 | 2021-09-21 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for AVT — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30