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Jun 27
Fabrinet Q4 2025 Earnings Report
Fabrinet reported record Q4 2025 results with revenue and non-GAAP EPS both exceeding expectations.
Key Takeaways
Fabrinet achieved $909.7 million in revenue in Q4 2025, growing 21% year-over-year. Net income rose to $87.2 million, and non-GAAP EPS reached a record $2.65, reflecting strong execution and broad-based demand.
Q4 revenue grew 21% YoY to $909.7 million, surpassing guidance.
Non-GAAP EPS reached a record $2.65, up from $2.41 in Q4 2024.
Gross margin remained steady at 12.2%, with GAAP gross profit at $111.3 million.
Free cash flow came in at $4.7 million, down from $70.4 million in Q4 2024.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects continued strong demand and execution in Q1 FY26, guiding for revenue between $910M–$950M and non-GAAP EPS of $2.75–$2.90.
Positive Outlook
- Q1 FY26 revenue guidance midpoint implies growth continuation.
- Non-GAAP EPS expected to exceed Q4 levels.
- Strong demand across all business areas.
- Robust balance sheet with over $306M in cash.
- Operational execution continues to drive record results.
Challenges Ahead
- Free cash flow decreased significantly YoY in Q4.
- Inventory increased $117M YoY, impacting cash flow.
- Trade receivables and payables saw substantial swings.
- Foreign exchange losses impacted earnings.
- Ongoing global macroeconomic uncertainty remains a risk.