Plexus Corporation
PLXS
$240.14
-0.73%
Plexus Corp is a leading provider of electronic manufacturing services (EMS), specializing in the design, manufacturing, and servicing of complex products for industries with demanding regulatory environments, including aerospace/defense, healthcare/life sciences, and industrial markets. The company differentiates itself through its integrated lifecycle solutions, from design and supply chain management to new product introduction and sustaining services, positioning it as a trusted partner for mission-critical applications. Currently, the investor narrative centers on Plexus's robust revenue growth, driven by strong demand in its APAC segment and a strategic focus on high-mix, high-complexity products, while also navigating margin pressures and supply chain dynamics. Recent analyst actions, including upgrades from Stifel and consistent Buy ratings from Needham and Benchmark, underscore growing confidence in the company's execution and growth trajectory.…
PLXS
Plexus Corporation
$240.14
PLXS 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Plexus Corporation's 12-month outlook, with a consensus price target around $305.75 and implied upside of +27.3% versus the current price.
Average Target
$305.75
0 analysts
Implied Upside
+27.3%
vs. current price
Analyst Count
—
covering this stock
Price Range
$275 - $330
Analyst target range
Plexus is covered by 4 analysts, with a consensus recommendation of 'Buy' and a mean recommendation score of 1.8 (where 1 is Strong Buy and 5 is Sell). The average target price is $305.75, implying an upside of 27.3% from the current price of $240.14. The target range is from $275.00 (low) to $330.00 (high), with the high target suggesting a potential 37.4% upside. The consensus is clearly bullish, with recent actions including upgrades from Stifel (from Hold to Buy) and repeated Buy ratings from Needham and Benchmark. The wide spread between low and high targets (55 points) indicates moderate uncertainty, but the overall sentiment is positive, reflecting confidence in Plexus's growth prospects and margin expansion potential.
PLXS Technical Analysis
Plexus's stock has exhibited a strong uptrend over the past year, with a 1-year price change of +83.94%, significantly outperforming the S&P 500's +20.48% gain. The current price of $240.14 sits at approximately 78.2% of its 52-week range (low of $131.37, high of $307.06), indicating the stock is still in the upper half of its range but has pulled back from its highs. This positioning suggests that while the longer-term momentum is bullish, the stock is not overextended at current levels, offering potential entry points for investors.
Beta
0.90
0.90x market volatility
Max Drawdown
-21.0%
Largest decline past year
52-Week Range
$132-$307
Price range past year
Annual Return
+83.9%
Cumulative gain past year
| Period | PLXS Return | S&P 500 |
|---|---|---|
| 1m | -7.4% | +3.6% |
| 3m | -9.6% | +2.7% |
| 6m | +21.0% | +11.4% |
| 1y | +83.9% | +18.7% |
| ytd | +57.7% | +12.3% |
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PLXS Fundamental Analysis
Plexus's revenue trajectory is robust, with the most recent quarter (Q2 FY2026, ending April 4, 2026) reporting revenue of $1,163.8 million, a year-over-year increase of 18.73%. This growth is accelerating, as prior quarters showed sequential increases from $1,069.9 million in Q1 FY2026 and $1,058.4 million in Q4 FY2025. The revenue growth is broad-based, with the APAC segment contributing $652.0 million, Americas $397.0 million, and EMEA $115.8 million, highlighting the strength in the APAC region. The company's profitability is solid, with net income of $49.8 million in the latest quarter, translating to a net margin of 4.28%. Gross margin improved to 10.24% from 9.92% in the prior quarter, and operating margin expanded to 5.31%, indicating effective cost management despite input cost pressures. Plexus's balance sheet is healthy, with a debt-to-equity ratio of 0.12, current ratio of 1.58, and positive free cash flow of $75.8 million on a trailing twelve-month basis. The company generates sufficient cash to fund its operations and growth initiatives, with ROE at 11.89% and ROA at 4.26%, reflecting efficient capital utilization.
Quarterly Revenue
$1.2B
2026-04
Revenue YoY Growth
+18.7%
YoY Comparison
Gross Margin
10.2%
Latest Quarter
Free Cash Flow
$75793000.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is PLXS Overvalued?
Given that Plexus is profitable, the PE ratio is the primary valuation metric. The trailing PE is 22.42x, while the forward PE is 23.85x, indicating that the market expects earnings to grow modestly in the coming year. The PEG ratio of 0.40 suggests that the stock is undervalued relative to its growth rate, as a PEG below 1 typically indicates a potential bargain. Compared to the industry average PE of 22x, Plexus trades at a slight premium of 2%, which is justified by its superior revenue growth and expanding margins. Historically, Plexus's PE has ranged from 12.3x to 43.1x over the past few years, with the current 22.42x sitting near the middle of that range, suggesting that the stock is fairly valued relative to its own history. The PS ratio of 0.96 is below the industry average of 1.2, further supporting the view that the stock is not overvalued.
PE
22.4x
Latest Quarter
vs. Historical
Mid-Range
5-Year PE Range 12x~40x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
13.5x
Enterprise Value Multiple