Arrow Electronics (ARW) financial statements
Arrow Electronics reported revenue of $30.9B in fiscal 2025, up 3.1% a year over 9 years.
Net income was $571M and the operating margin 2.7%, against 3.7% in 2016.
Free cash flow was -$37M, and the company returned $162M in net buybacks.
The diluted share count fell 43% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Arrow Electronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.5B | $26.6B | $29.7B | $28.9B | $28.7B | $34.5B | $37.1B | $33.1B | $27.9B | $30.9B |
| Cost of revenue | $20.3B | $23.2B | $26.0B | $25.6B | $25.5B | $30.3B | $32.3B | $29.0B | $24.6B | $27.4B |
| Gross profit | $3.1B | $3.4B | $3.7B | $3.3B | $3.2B | $4.2B | $4.8B | $4.1B | $3.3B | $3.5B |
| Selling, general and admin | $2.0B | $2.2B | $2.3B | $2.2B | $2.1B | $2.4B | $2.6B | $2.4B | $2.2B | $2.4B |
| Operating income | $877M | $946M | $1.1B | $108M | $895M | $1.6B | $2.1B | $1.5B | $769M | $822M |
| Pre-tax income | $235M | $116M | $187M | -$558M | $105M | $1.4B | $1.9B | $1.2B | $489M | $718M |
| Income tax | $191M | $287M | $188M | $88M | $173M | $326M | $449M | $255M | $96M | $148M |
| Net income | $523M | $402M | $716M | -$204M | $584M | $1.1B | $1.4B | $904M | $392M | $571M |
| EPS (diluted) | $5.68 | $4.48 | $8.10 | -$2.44 | $7.43 | $15.10 | $21.80 | $15.84 | $7.29 | $10.93 |
| Diluted shares | 92M | 90M | 88M | 84M | 79M | 73M | 65M | 57M | 54M | 52M |
| Gross margin | 13.4% | 12.6% | 12.5% | 11.4% | 11.1% | 12.2% | 13.0% | 12.5% | 11.8% | 11.2% |
| Operating margin | 3.7% | 3.6% | 3.9% | 0.4% | 3.1% | 4.5% | 5.6% | 4.4% | 2.8% | 2.7% |
| Net margin | 2.2% | 1.5% | 2.4% | -0.7% | 2.0% | 3.2% | 3.8% | 2.7% | 1.4% | 1.9% |
Balance sheet
Fiscal years, from Arrow Electronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $534M | $730M | $509M | $300M | $374M | $222M | $177M | $218M | $189M | $306M |
| Receivables | $6.7B | $8.1B | $8.9B | $8.5B | $9.2B | $11.1B | $12.3B | $12.2B | $13.0B | $19.7B |
| Inventory | $2.9B | $3.3B | $3.9B | $3.5B | $3.3B | $4.2B | $5.3B | $5.2B | $4.7B | $5.1B |
| Total current assets | $10.3B | $12.4B | $13.6B | $12.5B | $13.2B | $15.9B | $18.3B | $18.3B | $18.4B | $25.7B |
| Property, plant and equipment | $756M | $838M | $825M | $803M | $800M | $683M | $596M | $531M | $469M | $475M |
| Goodwill | $2.4B | $2.5B | $2.6B | $2.1B | $2.1B | $2.1B | $2.0B | $2.1B | $2.1B | $2.1B |
| Total assets | $14.2B | $16.5B | $17.8B | $16.4B | $17.1B | $19.5B | $21.8B | $21.7B | $21.8B | $29.1B |
| Total current liabilities | $6.7B | $8.0B | $8.8B | $8.3B | $9.1B | $11.3B | $12.4B | $13.2B | $12.6B | $18.8B |
| Long-term debt | $2.7B | $2.9B | $3.2B | $2.6B | $2.1B | $2.2B | $3.2B | $2.2B | $2.8B | $3.1B |
| Total liabilities | $9.7B | $11.5B | $12.4B | $11.5B | $11.9B | $14.2B | $16.2B | $15.8B | $15.9B | $22.4B |
| Shareholders' equity | $4.4B | $4.9B | $5.3B | $4.8B | $5.1B | $5.3B | $5.5B | $5.8B | $5.8B | $6.6B |
| Net debt | $2.3B | $2.6B | $3.0B | $2.7B | $1.9B | $2.4B | $3.6B | $3.6B | $2.9B | $2.8B |
Cash flow
Fiscal years, from Arrow Electronics's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $360M | $125M | $273M | $858M | $1.4B | $419M | -$33M | $705M | $1.1B | $64M |
| Capital spending | $165M | $204M | $135M | $143M | $124M | $83M | $79M | $83M | $93M | $101M |
| Free cash flow | $195M | -$79M | $137M | $715M | $1.2B | $336M | -$112M | $622M | $1.0B | -$37M |
| Stock-based compensation | $40M | $39M | $46M | $41M | $35M | $36M | $43M | $42M | $35M | $28M |
| Share buybacks (net) | -$216M | -$174M | -$243M | -$404M | -$484M | -$912M | -$1.0B | -$770M | -$265M | -$162M |
| Net borrowing | $49M | -$41M | $192M | -$114M | — | — | — | — | — | — |
| Free cash flow margin | 0.8% | -0.3% | 0.5% | 2.5% | 4.3% | 1.0% | -0.3% | 1.9% | 3.7% | -0.1% |
Questions
What was Arrow Electronics's revenue in 2025?
$30.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Arrow Electronics generate?
-$37M in fiscal 2025 (operating cash flow minus capital spending).
From Arrow Electronics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.