Plexus Corp. (PLXS) Stock

Plexus Corp. (PLXS) is a Technology stock trading at $242.06 (as of 2026-08-20), with a market capitalization of $6.45B and a trailing P/E of 34.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Plexus Corp., through its subsidiaries, provides electronic manufacturing services across the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its offerings include design and development, supply chain and new product introduction, manufacturing solutions, and aftermarket services for customers in healthcare/life sciences, industrial/commercial, aerospace/defense, and communications.

Understand Plexus Corp.: how it makes money

Plexus Corp. provides electronic manufacturing services, including design and development, supply chain, new product introduction, manufacturing solutions, and aftermarket services, for customers in healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.

The profit engine is converting qualified manufacturing opportunity demand into new manufacturing program wins, then ramping those wins to fully ramped annualized manufacturing revenue, with aftermarket services as additional support.

Business quality (Strong): Because Plexus sells outsourced manufacturing programs and related services, investors typically focus on the opportunity funnel and win conversion, and whether programs are ramping into sustainable annualized revenue.

Valuation: At 42× earnings, PLXS trades 18% below the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • Demand visibility via funnel: Qualified Manufacturing Opportunities Funnel is 4.0 USD_B, and the next-quarter scale is reflected in the funnel of qualified opportunities (3.3 USD_B).
  • Evidence of conversion into wins: Wins Funnel is 3.1 USD_B, and Annualized Revenue from New Manufacturing Program Wins When Fully Ramped is 0.35 USD_B.

Bear case

  • Execution and ramp risk: Even with a qualified opportunity funnel, outcomes depend on converting wins and successfully ramping them, since annualized revenue is tied to being fully ramped.
  • Market mix concentration by sector: The funnel values vary by sector (for example, Healthcare and Life Sciences is 2.2 USD_B versus Aerospace and Defense at 0.92 USD_B), so weakness in a specific sector could pressure near-term results.
Valuation — source: SEC EDGAR (first-party)
Price$242.06
Market Cap$6.45B
P/E Ratio34.8
EV / EBITDA20.0
Price / Book4.22
Price / Sales1.60
FCF Yield1.0%
DCF Value (model)$99.23
DCF Upside vs Price-59.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$4.03B
Net Margin4.3%
Revenue Growth (YoY)28.1%
EPS Growth (YoY)-3.6%
FCF Growth (YoY)-105.7%
Financial Health — source: SEC EDGAR
Altman Z-Score5.04 (safe)
Valuation vs Sector & Industry
Stock P/E34.8
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
vs Sector2.5%
vs Industry-11.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($865.91M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryElectronic Equipment
CEOTodd Kelsey
Employees20,000
CountryUS
IPO Date1986-02-05

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

  • Jabil Inc. (JBL)
  • TTM Technologies, Inc. (TTMI)
  • Sanmina Corporation (SANM)
  • Mercury Systems, Inc. (MRCY)
  • Impinj, Inc. (PI)
  • Benchmark Electronics, Inc. (BHE)
  • CTS Corporation (CTS)
  • Kimball Electronics, Inc. (KE)
PLXS earnings history · PLXS institutional & insider holders · PLXS KPIs & operating metrics · PLXS financials · PLXS investor presentations & press releases · PLXS SEC filings · PLXS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.