(FN) Fabrinet - NYSE
Sector: Technology | Industry: Electronic Components | Exchange: NYSE (USA) | Market Cap: 21.069m USD | Total Return: 116.2% in 12m
Avg Turnover: 548M
EPS Trend: 98.7%
Qual. Beats: 3
Rev. Trend: 97.5%
Qual. Beats: 6
Warnings
Below Avwap Earnings
Tailwinds
Confidence
Fabrinet (NYSE: FN) is a Cayman Islands-incorporated contract manufacturer specializing in optical packaging and precision optical, electro-mechanical, and electronic manufacturing services for OEM customers across North America, Asia-Pacific, and Europe. The company offers end-to-end capabilities spanning process design and engineering, supply chain management, PCB assembly, packaging, integration, final assembly, and testing, and was founded in 1999.
Its product portfolio is organized around a few core end markets: optical communications components (switching modules, transceivers, tunable lasers, transponders, and active optical cables used in telecom and data center networks), industrial lasers for semiconductor, biotech, and materials processing applications, sensors for automotive and medical use, and custom optical components such as crystals, lenses, prisms, mirrors, and specialty glass substrates.
As an Electronic Manufacturing Services (EMS) provider, Fabrinet operates on a contract manufacturing model, deriving revenue from unit-based production rather than selling its own branded products. Its narrow focus on complex optical and electro-mechanical assemblies distinguishes it from broader EMS peers and ties demand closely to telecom network upgrades and hyperscale data center infrastructure spending.
- AI infrastructure capex drives optical interconnect demand
- Data center transceiver revenue accelerates on hyperscaler orders
- Manufacturing scale and Thailand operations boost operating margins
| Net Income: 418.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -9.11 > 1.0 |
| NWC/Revenue: 42.26% < 20% (prev 48.10%; Δ -5.83% < -1%) |
| CFO/TA 0.07 > 3% & CFO 256.9m > Net Income 418.0m |
| Net Debt (-940.8m) to EBITDA (510.4m): -1.84 < 3 |
| Current Ratio: 2.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.2m) vs 12m ago -0.30% < -2% |
| Gross Margin: 11.96% > 18% (prev 12.09%; Δ -0.13% > 0.5%) |
| Asset Turnover: 138.2% > 50% (prev 124.6%; Δ 13.64% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.51 (Total Current Assets 2.95b - Total Current Liabilities 1.16b) / Total Assets 3.51b |
| B: 0.69 (Retained Earnings 2.43b / Total Assets 3.51b) |
| C: 0.15 (EBIT TTM 448.6m / Avg Total Assets 3.06b) |
| D: 1.91 (Book Value of Equity 2.30b / Total Liabilities 1.20b) |
| Altman-Z'' = 8.59 = AAA |
| DSRI: 1.06 (Receivables 908.5m/658.3m, Revenue 4.24b/3.26b) |
| GMI: 1.01 (GM 12.09% / 11.96%) |
| AQI: 1.78 (AQ_t 0.01 / AQ_t-1 0.01) |
| SGI: 1.30 (Revenue 4.24b / 3.26b) |
| TATA: 0.05 (NI 418.0m - CFO 256.9m) / TA 3.51b) |
| Beneish M = -2.28 (Cap -4..+1) = BBB |
As of June 24, 2026, the stock is trading at USD 583.55 with a total of 674,479 shares traded. Over the past week, the price has changed by -8.19%, over one month by -14.28%, over three months by +6.79% and over the past year by +116.23%.
Current recommended Stop Loss: 449.60 (which is 23% or 2.7 ATR below the current price).
Fabrinet has received a consensus analysts rating of 3.89. Therefore, it is recommended to buy FN.
- StrongBuy: 3
- Buy: 2
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 749.1 | 28.4% |
P/E Trailing = 50.518
P/E Forward = 12.8205
P/S = 4.975
P/B = 9.1417
P/EG = 1.19
Revenue TTM = 4.24b USD
EBIT TTM = 448.6m USD
EBITDA TTM = 510.4m USD
Long Term Debt = 2.96m USD (estimated: total debt 4.42m - short term 1.46m)
Short Term Debt = 1.46m USD (from shortTermDebt, last quarter)
Debt = 4.42m USD (from shortLongTermDebtTotal, last quarter) (leases 4.42m already included)
Net Debt = -940.8m USD (calculated: Debt 4.42m - CCE 945.2m)
Enterprise Value = 20.1b USD (21.1b + Debt 4.42m - CCE 945.2m)
Interest Coverage Ratio = unknown (Ebit TTM 448.6m / Interest Expense TTM 0.0)
EV/FCF = 441.6x (Enterprise Value 20.1b / FCF TTM 45.6m)
FCF Yield = 0.23% (FCF TTM 45.6m / Enterprise Value 20.1b)
FCF Margin = 1.08% (FCF TTM 45.6m / Revenue TTM 4.24b)
Net Margin = 9.87% (Net Income TTM 418.0m / Revenue TTM 4.24b)
Gross Margin = 11.96% ((Revenue TTM 4.24b - Cost of Revenue TTM 3.73b) / Revenue TTM)
Gross Margin QoQ = 11.61% (prev 12.15%)
Tobins Q-Ratio = 5.74 (Enterprise Value 20.1b / Total Assets 3.51b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 4.42m)
Taxrate = 6.16% (27.7m / 448.6m)
NOPAT = 421.0m (EBIT 448.6m * (1 - 6.16%))
Current Ratio = 2.55 (Total Current Assets 2.95b / Total Current Liabilities 1.16b)
Debt / Equity = 0.00 (Debt 4.42m / totalStockholderEquity, last quarter 2.30b)
Debt / EBITDA = -1.84 (Net Debt -940.8m / EBITDA 510.4m)
Debt / FCF = -20.64 (Net Debt -940.8m / FCF TTM 45.6m)
Total Stockholder Equity = 2.13b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.64% (Net Income 418.0m / Total Assets 3.51b)
RoE = 19.60% (Net Income TTM 418.0m / Total Stockholder Equity 2.13b)
RoCE = 21.00% (EBIT 448.6m / Capital Employed (Equity 2.13b + L.T.Debt 2.96m))
RoIC = 19.64% (NOPAT 421.0m / Invested Capital 2.14b)
WACC = 15.16% (E(21.1b)/V(21.1b) * Re(15.16%) + D(4.42m)/V(21.1b) * Rd(0.0%) * (1-Tc(0.06)))
Discount Rate = 15.16% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -73.33 | Cagr: -0.51%
[DCF] Terminal Value 52.15% ; FCFF base≈136.4m ; Y1≈119.6m ; Y5≈96.6m
[DCF] Fair Price = 46.94 (EV 741.0m - Net Debt -940.8m = Equity 1.68b / Shares 35.8m; r=15.16% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 98.71 | EPS CAGR: 19.28% | SUE: 1.82 | # QB: 3
Revenue Correlation: 97.55 | Revenue CAGR: 18.17% | SUE: 1.51 | # QB: 6
EPS next Quarter (2026-09-30): EPS=3.98 | Chg30d=+2.14% | Revisions=+40% | Analysts=8
EPS current Year (2026-06-30): EPS=13.81 | Chg30d=+1.67% | Revisions=+67% | GrowthEPS=+35.8% | GrowthRev=+34.5%
EPS next Year (2027-06-30): EPS=17.27 | Chg30d=+5.98% | Revisions=+50% | GrowthEPS=+25.1% | GrowthRev=+23.0%
[Analyst] Revisions Ratio: +67%