Avnet (AVT) financial statements
Avnet reported revenue of $27.6B in fiscal 2026, up 5.2% a year over 9 years.
Net income was $334M and the operating margin 2.6%, against 2.5% in 2017.
Free cash flow was -$354M, and the company returned $114M in dividends and $138M in net buybacks.
The diluted share count fell 35% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Avnet's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.4B | $19.0B | $19.5B | $17.6B | $19.5B | $24.3B | $26.5B | $23.8B | $22.2B | $27.6B |
| Cost of revenue | $15.1B | $16.5B | $17.0B | $15.6B | $17.3B | $21.3B | $23.4B | $21.0B | $19.8B | $24.8B |
| Gross profit | $2.4B | $2.5B | $2.5B | $2.1B | $2.2B | $3.0B | $3.2B | $2.8B | $2.4B | $2.9B |
| Selling, general and admin | $1.8B | $2.0B | $1.9B | $1.8B | $1.9B | $2.0B | $2.0B | $1.9B | $1.8B | $2.0B |
| Operating income | $444M | $209M | $366M | -$5M | $281M | $939M | $1.2B | $844M | $514M | $725M |
| Interest expense | $100M | $93M | $135M | $123M | $89M | $100M | $251M | $283M | $246M | $251M |
| Pre-tax income | $310M | $145M | $237M | -$130M | $173M | $833M | $983M | $632M | $251M | $467M |
| Income tax | $47M | $288M | $60M | -$99M | -$20M | $141M | $212M | $134M | $10M | $133M |
| Net income | $525M | -$156M | $176M | -$31M | $193M | $692M | $771M | $499M | $240M | $334M |
| EPS (diluted) | $4.08 | -$1.30 | $1.59 | -$0.31 | $1.93 | $6.94 | $8.26 | $5.43 | $2.75 | $4.01 |
| Diluted shares | 129M | 120M | 111M | 100M | 100M | 100M | 93M | 92M | 87M | 83M |
| Gross margin | 13.6% | 13.3% | 12.7% | 11.7% | 11.5% | 12.2% | 12.0% | 11.6% | 10.7% | 10.4% |
| Operating margin | 2.5% | 1.1% | 1.9% | -0.0% | 1.4% | 3.9% | 4.5% | 3.6% | 2.3% | 2.6% |
| Net margin | 3.0% | -0.8% | 0.9% | -0.2% | 1.0% | 2.8% | 2.9% | 2.1% | 1.1% | 1.2% |
Balance sheet
Fiscal years, from Avnet's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $836M | $621M | $546M | $477M | $200M | $154M | $288M | $311M | $192M | $155M |
| Receivables | $3.3B | $3.6B | $3.2B | $2.9B | $3.6B | $4.3B | $4.8B | $4.4B | $4.3B | $6.9B |
| Inventory | $2.8B | $3.1B | $3.0B | $2.7B | $3.2B | $4.2B | $5.5B | $5.5B | $5.2B | $6.1B |
| Total current assets | $7.5B | $7.6B | $6.9B | $6.3B | $7.2B | $8.9B | $10.8B | $10.4B | $10.0B | $13.3B |
| Property, plant and equipment | $520M | $523M | $452M | $405M | $368M | $315M | $442M | $568M | $667M | $645M |
| Goodwill | $1.1B | $981M | $877M | $774M | $838M | $759M | $781M | $781M | $837M | $810M |
| Total assets | $9.7B | $9.6B | $8.6B | $8.1B | $8.9B | $10.4B | $12.5B | $12.2B | $12.1B | $15.4B |
| Total current liabilities | $2.5B | $3.0B | $2.6B | $2.3B | $3.1B | $4.3B | $4.2B | $4.5B | $4.1B | $7.5B |
| Long-term debt | $1.7B | $1.5B | $1.4B | $1.4B | $1.2B | $1.4B | $3.0B | $2.4B | $2.6B | $2.5B |
| Total liabilities | $4.5B | $4.9B | $4.4B | $4.4B | $4.8B | $6.2B | $7.7B | $7.3B | $7.1B | $10.4B |
| Shareholders' equity | $5.2B | $4.7B | $4.1B | $3.7B | $4.1B | $4.2B | $4.8B | $4.9B | $5.0B | $5.0B |
| Net debt | $943M | $1.0B | $1.2B | $948M | $1.0B | $1.5B | $2.8B | $2.6B | $2.5B | $3.1B |
Cash flow
Fiscal years, from Avnet's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$369M | $253M | $535M | $730M | $91M | -$219M | -$714M | $690M | $725M | -$281M |
| Capital spending | $120M | $156M | $123M | $74M | $50M | $49M | $195M | $226M | $147M | $74M |
| Free cash flow | -$489M | $98M | $412M | $657M | $41M | -$268M | -$908M | $464M | $577M | -$354M |
| Stock-based compensation | $48M | $24M | $30M | $27M | $29M | $37M | $39M | $33M | $36M | $49M |
| Dividends paid | $89M | $88M | $87M | $84M | $84M | $98M | $106M | $112M | $113M | $114M |
| Share buybacks (net) | -$276M | -$324M | -$569M | -$238M | — | -$184M | -$222M | -$163M | -$303M | -$138M |
| Free cash flow margin | -2.8% | 0.5% | 2.1% | 3.7% | 0.2% | -1.1% | -3.4% | 2.0% | 2.6% | -1.3% |
| Dividends per share | $0.69 | $0.74 | $0.79 | $0.84 | $0.84 | $0.99 | $1.14 | $1.22 | $1.30 | $1.37 |
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Open AVT in InvestinglyQuestions
What was Avnet's revenue in 2026?
$27.6B in fiscal 2026, from its 10-K filing.
How much free cash flow does Avnet generate?
-$354M in fiscal 2026 (operating cash flow minus capital spending).
From Avnet's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.