| Stage | FLEX | % of rev | JBL | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $8.5B | 100.00% | $10.6B | 100.00% | JBL ×1.25 |
| Gross profit | $812M | 9.56% | $1.0B | 9.43% | FLEX +0.1pp |
| Operating income | $414M | 4.88% | $602M | 5.67% | JBL +0.8pp |
| Pre-tax income | $370M | 4.36% | $522M | 4.92% | JBL +0.6pp |
| Net income | $263M | 3.10% | $397M | 3.74% | JBL +0.6pp |
| Stage | FLEX | JBL | Gap · A − B |
|---|---|---|---|
| Revenue | $8.5B100.00% | $10.6B100.00% | JBL ×1.25 |
| Gross profit | 9.56%$812M | 9.43%$1.0B | FLEX +0.1pp |
| Operating income | 4.88%$414M | 5.67%$602M | JBL +0.8pp |
| Pre-tax income | 4.36%$370M | 4.92%$522M | JBL +0.6pp |
| Net income |
| 3.10%$263M |
| 3.74%$397M |
| JBL +0.6pp |
FLEX 10-KMay 20 '26
“On August 15, 2025, we issued a warrant (the "Warrant") to Amazon.com NV Investment Holdings LLC, a wholly-owned subsidiary of Amazon.com, Inc. ("Parent") to purchase up to an aggregate of 3,859,851 ordinary shares of the Company ("Warrant Shares") at an exercise price of $51.29 per share.”
JBL 10-KOct 23 '26
“On December 27, 2024, we issued a warrant (the "Warrant") to Amazon.com NV Investment Holdings LLC ("Warrantholder") to acquire up to 1,158,539 of our ordinary shares ("Warrant Shares") at an initial exercise price of $137.7671 per share, which is the preceding 30 trading day VWAP. The Warrant allows for cashless exercise and expires December 27, 2031. The Warrant Shares are subject to vesting for payments for purchased products and services over the seven-year Warrant term, with 59,582 of the Warrant Shares having vested upon issuance.”
FLEX · ANET 10-KFeb 19 '25
“Our primary manufacturing partners are Jabil Inc., Sanmina Corporation, Flex Ltd. and Foxconn Hon Hai.”
JBL · ANET 10-KFeb 19 '25
“Our primary manufacturing partners are Jabil Inc., Sanmina Corporation, Flex Ltd. and Foxconn Hon Hai.”