vs
Side-by-side financial comparison of FLEX LTD. (FLEX) and ROYAL BANK OF CANADA (RY). Click either name above to swap in a different company.
ROYAL BANK OF CANADA is the larger business by last-quarter revenue ($13.1B vs $7.1B, roughly 1.9× FLEX LTD.). ROYAL BANK OF CANADA runs the higher net margin — 32.2% vs 3.4%, a 28.8% gap on every dollar of revenue.
Flex Ltd. is a Singaporean–American multinational manufacturing company. It is the third largest global electronics manufacturing services (EMS), original design manufacturer (ODM) company by revenue, behind only Pegatron for what concerns original equipment manufacturers. Flex's U.S. corporate headquarters are located in Austin, Texas. The company has manufacturing operations in over 30 countries, totaling about 172,000 employees.
The Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 18 million clients and has more than 98,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.
FLEX vs RY — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.1B | $13.1B |
| Net Profit | $239.0M | $4.2B |
| Gross Margin | 9.6% | — |
| Operating Margin | 5.5% | — |
| Net Margin | 3.4% | 32.2% |
| Revenue YoY | 7.7% | — |
| Net Profit YoY | -9.1% | — |
| EPS (diluted) | $0.64 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $13.1B | ||
| Q4 25 | $7.1B | — | ||
| Q3 25 | $6.8B | $12.4B | ||
| Q2 25 | $6.6B | $11.4B | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.6B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $6.3B | — |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $239.0M | — | ||
| Q3 25 | $199.0M | $4.0B | ||
| Q2 25 | $192.0M | $3.2B | ||
| Q1 25 | $222.0M | — | ||
| Q4 24 | $263.0M | — | ||
| Q3 24 | $214.0M | — | ||
| Q2 24 | $139.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.6% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 7.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 3.7% | — |
| Q1 26 | — | 32.2% | ||
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.9% | 31.9% | ||
| Q2 25 | 2.9% | 28.0% | ||
| Q1 25 | 3.5% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 2.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | $0.64 | — | ||
| Q3 25 | $0.52 | — | ||
| Q2 25 | $0.50 | — | ||
| Q1 25 | $0.56 | — | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.54 | — | ||
| Q2 24 | $0.34 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.1B | $33.7B |
| Total DebtLower is stronger | $4.4B | — |
| Stockholders' EquityBook value | $5.1B | $102.1B |
| Total Assets | $20.8B | $1709.9B |
| Debt / EquityLower = less leverage | 0.87× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $33.7B | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.2B | $25.5B | ||
| Q2 25 | $2.2B | $35.5B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.2B | — |
| Q1 26 | — | $102.1B | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $99.0B | ||
| Q2 25 | $5.1B | $96.7B | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.0B | — |
| Q1 26 | — | $1709.9B | ||
| Q4 25 | $20.8B | — | ||
| Q3 25 | $19.5B | $1626.4B | ||
| Q2 25 | $19.1B | $1636.8B | ||
| Q1 25 | $18.4B | — | ||
| Q4 24 | $18.3B | — | ||
| Q3 24 | $18.6B | — | ||
| Q2 24 | $17.7B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 0.64× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $420.0M | $27.7B |
| Free Cash FlowOCF − Capex | $272.0M | — |
| FCF MarginFCF / Revenue | 3.9% | — |
| Capex IntensityCapex / Revenue | 2.1% | — |
| Cash ConversionOCF / Net Profit | 1.76× | 6.55× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $27.7B | ||
| Q4 25 | $420.0M | — | ||
| Q3 25 | $453.0M | $21.2B | ||
| Q2 25 | $399.0M | $7.2B | ||
| Q1 25 | $433.0M | — | ||
| Q4 24 | $413.0M | — | ||
| Q3 24 | $319.0M | — | ||
| Q2 24 | $340.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $272.0M | — | ||
| Q3 25 | $303.0M | — | ||
| Q2 25 | $266.0M | — | ||
| Q1 25 | $321.0M | — | ||
| Q4 24 | $301.0M | — | ||
| Q3 24 | $216.0M | — | ||
| Q2 24 | $229.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 3.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.8% | — |
| Q1 26 | — | 6.55× | ||
| Q4 25 | 1.76× | — | ||
| Q3 25 | 2.28× | 5.36× | ||
| Q2 25 | 2.08× | 2.24× | ||
| Q1 25 | 1.95× | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 2.45× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLEX
| Flex Reliability Solutions FRS | $3.2B | 46% |
| Transferred At Point In Time | $2.7B | 38% |
| Transferred Over Time | $1.1B | 16% |
RY
Segment breakdown not available.
