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Fabrinet

CIK:0001408710|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 26, 2026	Jun. 27, 2025	Jun. 28, 2024
Income Statement [Abstract]
Revenues	$ 4,641,097	$ 3,419,327	$ 2,882,967
Cost of revenues	(4,084,586)	(3,005,978)	(2,526,849)
Gross profit	556,511	413,349	356,118
Selling, general and administrative expenses	(93,507)	(87,466)	(78,481)
Restructuring and other related costs	(117)	(1,436)	(32)
Operating income	462,887	324,447	277,605
Interest income	32,418	40,162	33,204
Interest expense	(84)	0	(124)
Foreign exchange gain (loss), net	2,866	(9,251)	382
Other income (expense), net	57,026	(178)	287
Income before income taxes	555,113	355,180	311,354
Income tax expense	(82,086)	(22,653)	(15,173)
Net income	473,027	332,527	296,181
Other comprehensive income (loss), net of tax
Change in net unrealized gain (loss) on available-for-sale securities	(3,118)	9,893	2,100
Change in net unrealized gain (loss) on derivative instruments	(6,094)	2,314	2,561
Change in net retirement benefits plan – prior service cost	0	0	330
Change in foreign currency translation adjustment	(114)	1,228	(17)
Total other comprehensive income (loss), net of tax	(9,326)	13,435	4,974
Net comprehensive income	$ 463,701	$ 345,962	$ 301,155
Earnings per share
Basic (in USD per share)	$ 13.21	$ 9.23	$ 8.17
Diluted (in USD per share)	$ 13.05	$ 9.17	$ 8.10
Weighted average number of ordinary shares outstanding (thousands of shares)
Basic (in shares)	35,815	36,017	36,246
Diluted (in shares)	36,252	36,267	36,564

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 26, 2026	Jun. 27, 2025	Jun. 28, 2024
Cash flows from operating activities
Net income	$ 473,027	$ 332,527	$ 296,181
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	68,371	53,433	49,017
(Gain) loss on disposal of property, plant and equipment and intangibles	(693)	(70)	62
(Gain) loss on non-marketable equity securities	(56,743)	0	0
Amortization of discount (premium) of short-term investments	(4,724)	(4,563)	(3,399)
Inventory obsolescence impairment	2,681	0	0
(Reversal of) allowance for expected credit losses	(294)	(285)	664
Unrealized loss (gain) on exchange rate and fair value of foreign currency forward contracts	268	4,963	(849)
Amortization of fair value at hedge inception of interest rate swaps	0	0	(220)
Share-based compensation	34,630	33,004	28,374
Customer warrant	4,800	4,109	0
Deferred income tax expense (benefit)	(5,107)	(5,726)	1,672
Other non-cash expenses	409	131	310
Changes in operating assets and liabilities
Trade accounts receivable	(259,258)	(165,657)	(61,279)
Inventories	(442,901)	(117,809)	56,370
Other current assets and non-current assets	(108,114)	(33,595)	(46,715)
Trade accounts payable	370,753	194,236	60,040
Income tax payable	55,530	4,029	(1,960)
Accrued expenses	16,675	13,036	1,398
Other payables	94,753	11,522	30,959
Severance liabilities	3,743	3,799	2,771
Other current liabilities and non-current liabilities	8,919	1,281	(250)
Net cash provided by operating activities	256,725	328,365	413,146
Cash flows from investing activities
Purchase of short-term investments	(276,207)	(444,149)	(435,905)
Proceeds from sales of short-term investments	12,000	0	40,000
Proceeds from maturities of short-term investments	365,289	279,417	271,877
Purchases of non-marketable equity securities	(32,360)	0	0
Purchase of property, plant and equipment	(252,503)	(121,078)	(47,528)
Purchase of intangibles	(1,181)	(738)	(889)
Proceeds from disposal of property, plant and equipment	1,387	252	2,694
Net cash used in investing activities	(183,575)	(286,296)	(169,751)
Cash flows from financing activities
Repayment of long-term borrowings	0	0	(12,188)
Repurchase of ordinary shares	(5,231)	(125,733)	(39,490)
Withholding tax related to net share settlement of restricted share units	(25,456)	(21,275)	(13,175)
Net cash used in financing activities	(30,687)	(147,008)	(64,853)
Net increase (decrease) in cash, cash equivalents and restricted cash	42,463	(104,939)	178,542
Movement in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at the beginning of period	306,425	409,973	231,368
Increase (decrease) in cash, cash equivalents and restricted cash	42,463	(104,939)	178,542
Effect of exchange rate on cash, cash equivalents and restricted cash	(1,473)	1,391	63
Cash, cash equivalents and restricted cash at the end of period	347,415	306,425	409,973
Cash paid for
Interest	0	0	312
Taxes	29,405	24,302	16,452
Cash received for interest	33,462	33,718	29,783
Non-cash investing and financing activities
Construction, software and equipment related payables	86,018	40,781	14,380
Reconcilliation of Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents	346,711	306,425	409,973
Restricted cash	704	0	0
Cash, cash equivalents and restricted cash	$ 347,415	$ 306,425	$ 409,973

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 26, 2026	Jun. 27, 2025
Current assets
Cash and cash equivalents	$ 346,711	$ 306,425
Short-term investments	528,344	627,819
Trade accounts receivable, net of allowance for expected credit losses of $1,050 and $1,344, respectively	1,017,933	758,894
Inventories	1,021,235	581,015
Prepaid expenses	49,915	38,476
Other current assets	195,571	116,210
Total current assets	3,159,709	2,428,839
Non-current assets
Long-term restricted cash	704	0
Property, plant and equipment, net	615,067	380,640
Intangibles, net	2,458	2,156
Operating right-of-use assets	3,974	5,768
Deferred tax assets	19,229	13,406
Non-marketable equity securities	89,103	0
Other non-current assets	20,717	623
Total non-current assets	751,252	402,593
Total Assets	3,910,961	2,831,432
Current liabilities
Trade accounts payable	1,005,761	637,417
Fixed assets payable	86,018	40,781
Operating lease liabilities, current portion	1,189	1,792
Income tax payable	63,469	7,939
Accrued payroll, bonus and related expenses	29,850	24,566
Accrued expenses	56,549	30,630
Severance liabilities, current portion	2,319	0
Other payables	157,470	66,717
Total current liabilities	1,402,625	809,842
Non-current liabilities
Deferred tax liability	1,654	1,595
Operating lease liabilities, non-current portion	2,824	3,679
Severance liabilities, non-current portion	31,776	31,225
Other non-current liabilities	17,826	3,279
Total non-current liabilities	54,080	39,778
Total Liabilities	1,456,705	849,620
Commitments and contingencies (Note 19)
Shareholders’ equity
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of June 26, 2026 and June 27, 2025)	0	0
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 39,722,708 shares and 39,602,152 shares issued as of June 26, 2026 and June 27, 2025, respectively; and 35,834,864 shares and 35,728,074 shares outstanding as of June 26, 2026 and June 27, 2025, respectively)	397	396
Additional paid-in capital	251,854	237,881
Less: Treasury shares (3,887,844 shares and 3,874,078 shares as of June 26, 2026 and June 27, 2025, respectively)	(365,287)	(360,056)
Accumulated other comprehensive income (loss)	968	10,294
Retained earnings	2,566,324	2,093,297
Total Shareholders’ Equity	2,454,256	1,981,812
Total Liabilities and Shareholders’ Equity	$ 3,910,961	$ 2,831,432