Plexus (PLXS) Cash Flow: Operating & Free Cash Flow

Plexus Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Plexus Corp. (PLXS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Oct 2022	Sep 2022	Oct 2021	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017
Operating Activities
Net Income	172.89	111.82	139.09	138.24	138.24	138.91	138.91	117.48	108.62	13.04	112.06
Depreciation & Amortization	77.79	77.85	69.76	62.69	62.69	61.01	61.01	56.69	52.21	48.30	45.33
Deferred Income Tax	-16.30	-7.10	-22.44	-	-10.80	-	-3.39	-3.58	-9.76	20.39	-0.37
Stock Based Compensation	30.27	30.31	21.30	23.34	23.34	24.76	24.76	24.28	21.34	17.98	17.41
Change in Working Capital	-8.86	224.60	-41.31	-240.68	-240.68	-78.17	-78.17	8.69	-57.30	-32.68	-2.85
Change in Accounts Receivable	-60.43	66.65	78.37	-253.47	-253.47	-34.86	-34.86	8.80	-96.69	-30.71	53.71
Change in Inventory	84.86	262.27	48.61	-652.99	-652.99	-206.51	-206.51	-56.42	18.80	-140.62	-86.07
Change in Accounts Payable	98.64	-48.98	-170.69	176.04	175.32	111.78	111.78	65.10	-56.72	93.34	6.89
Change in Other Working Capital	-131.94	-5.71	2.39	10.72	0.97	-29.70	51.42	-8.79	77.32	45.30	22.62
Other Operating Activities	-6.56	-5.71	-0.58	-9.83	0.97	-3.94	-0.55	6.82	0.20	-0.20	0.15
Net Cash from Operating Activities	249.23	436.50	165.82	-26.24	-26.24	142.58	142.58	210.37	115.30	66.83	171.73
Investing Activities
Capital Expenditures	-95.26	-95.18	-104.05	-101.61	-101.61	-57.10	-57.10	-50.09	-90.60	-62.78	-38.54
Acquisitions	0.00	0.00	0.00	-	0.00	-	0.00	0.44	1.18	-12.38	0.70
Other Investing Activities	-0.35	0.24	10.75	0.05	0.05	0.13	0.13	-0.20	0.06	0.54	0.70
Net Cash from Investing Activities	-95.61	-94.95	-93.30	-101.56	-101.56	-56.97	-56.97	-49.85	-89.36	-74.62	-37.83
Financing Activities
Debt Repayment	-115.82	-739.46	-39.29	-556.73	-556.73	-466.06	-89.32	40.74	90.91	-135.92	28.20
Common Stock Issued	0.00	0.00	0.00	0.48	0.00	3.56	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-65.34	-55.69	-40.95	-61.56	-50.39	-118.12	-108.45	-41.39	-182.11	-137.03	-34.14
Other Financing Activities	-15.25	-11.15	-12.49	-0.90	-12.07	-	-6.11	-0.81	-6.02	7.49	7.25
Net Cash from Financing Activities	-196.40	-255.59	-92.73	139.30	139.30	-203.89	-203.89	-1.46	-97.22	-265.46	1.31
Summary
Effect of Forex Changes on Cash	2.08	4.84	1.39	-6.54	-6.54	0.90	0.90	2.58	-0.15	1.69	1.09
Net Change in Cash	-40.70	90.81	-18.82	4.96	4.96	-117.38	-117.38	161.64	-71.43	-271.57	136.29
Cash at Beginning of Period	347.46	256.65	275.47	-	270.51	-	387.89	226.25	297.69	569.25	432.96
Cash at End of Period	306.76	347.46	256.65	-	275.47	-	270.51	387.89	226.25	297.69	569.25
Free Cash Flow	153.97	341.32	61.77	-127.85	-127.85	85.48	85.48	160.28	24.70	4.05	133.20
Supplemental Disclosures
Interest Paid	12.34	29.52	32.79	15.29	-	14.12	-	-	-	-	-
Income Taxes Paid	44.78	46.22	43.57	16.92	-	39.93	-	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 4, 2026. Data sources and methodology

Frequently Asked Questions About Plexus Cash Flow

What is Plexus's free cash flow?

Plexus generated free cash flow of $153.97M in fiscal 2025 (fiscal year ended Sep 30, 2025), operating cash flow of $249.23M minus $95.26M of capital expenditures. That was down 54.9% from $341.32M a year earlier. Free cash flow equaled 3.8% of revenue.

How much does Plexus spend on capital expenditures?

Plexus spent $95.26M on capital expenditures in fiscal 2025, compared with $95.18M a year earlier. That equals 38.2% of operating cash flow.

Does Plexus pay dividends or buy back shares?

Yes. In fiscal 2025 Plexus returned $65.34M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition