Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and testing. Its products include switching products, including reconfigurable optical add-drop multiplexers, optical amplifiers, modulators, and other optical components and modules that enable network managers to route voice, video, and data communications traffic through fiber optic cables at various wavelengths, speeds, and over various distances. The company's products also comprise transceivers, tunable lasers, and transponders; and active optical cables, which provide high-speed interconnect capabilities for data centers and computing clusters, as well as Infiniband, Ethernet, fiber channel, and optical backplane connectivity. In addition, it provides solid state, diode-pumped, gas, and fiber lasers used in semiconductor processing, biotechnology and medical device, metrology, and material processing industries; and differential pressure, micro-gyro, fuel, and other sensors used in automobiles, as well as non-contact temperature measurement sensors for the medical industry. Further, the company designs and fabricates application-specific crystals, lenses, prisms, mirrors, laser components, and substrates; and other custom and standard borosilicate, clear fused quartz, and synthetic fused silica glass products. It serves original equipment manufacturers of optical communication components, modules and sub-systems, industrial lasers, automotive components, medical devices, and sensors. The company was incorporated in 1999 and is based in George Town, the Cayman Islands.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.4B | $409M | $333M | $207M | 16.8% | 18.6% | 12.3% |
| 2024 | $2.9B | $360M | $296M | $365M | 17.0% | 9.0% | 19.5% |
| 2023 | $2.6B | $305M | $248M | $151M | 16.9% | 16.9% | 23.7% |
| 2022 | $2.3B | $246M | $200M | $34M | 16.0% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,262.22 | 2,645.24 | 2,882.97 | 3,419.33 |
| Operating Revenue | - | 2,262.22 | 2,645.24 | 2,882.97 | 3,419.33 |
| Cost Of Revenue | - | 1,983.63 | 2,308.96 | 2,526.85 | 3,005.98 |
| Gross Profit | - | 278.59 | 336.27 | 356.12 | 413.35 |
| Operating Expense | - | 73.94 | 77.67 | 78.48 | 87.47 |
| Selling General And Administration | - | 73.94 | 77.67 | 78.48 | 87.47 |
| Total Expenses | - | 2,057.57 | 2,386.64 | 2,605.33 | 3,093.44 |
| Operating Income | - | 204.65 | 258.60 | 277.64 | 325.88 |
| Total Operating Income As Reported | - | 204.52 | 251.70 | 277.60 | 324.45 |
| EBITDA | - | 246.14 | 305.40 | 360.50 | 408.61 |
| Normalized EBITDA | - | 243.97 | 313.51 | 360.14 | 419.30 |
| EBIT | - | 207.40 | 261.57 | 311.48 | 355.18 |
| Interest Income | - | 2.20 | 11.23 | 33.20 | 40.16 |
| Interest Expense | - | 0.43 | 1.47 | 0.12 | 0 |
| Net Interest Income | - | 1.77 | 9.76 | 33.08 | 40.16 |
| Other Non Operating Income Expenses | - | -1.63 | -0.16 | 0.29 | -0.18 |
| Other Income Expense | - | 0.54 | -8.27 | 0.64 | -10.86 |
| Interest Income Non Operating | - | 2.20 | 11.23 | 33.20 | 40.16 |
| Interest Expense Non Operating | - | 0.43 | 1.47 | 0.12 | 0 |
| Net Non Operating Interest Income Expense | - | 1.77 | 9.76 | 33.08 | 40.16 |
| Pretax Income | - | 206.97 | 260.10 | 311.35 | 355.18 |
| Tax Provision | - | 6.59 | 12.18 | 15.17 | 22.65 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.07 | -0.38 | 0.02 | -0.68 |
| Net Income Continuous Operations | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Net Income From Continuing And Discontinued Operation | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Net Income From Continuing Operation Net Minority Interest | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Net Income | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Net Income Common Stockholders | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Net Income Including Noncontrolling Interests | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Normalized Income | - | 198.28 | 255.64 | 295.85 | 342.53 |
| Diluted NI Availto Com Stockholders | - | 200.38 | 247.91 | 296.18 | 332.53 |
| Basic Average Shares | - | 36.88 | 36.52 | 36.25 | 36.02 |
| Diluted Average Shares | - | 37.39 | 36.85 | 36.56 | 36.27 |
| Reconciled Depreciation | - | 38.74 | 43.83 | 49.02 | 53.43 |
| Reconciled Cost Of Revenue | - | 1,983.63 | 2,308.96 | 2,526.85 | 3,005.98 |
| Total Unusual Items | - | 2.17 | -8.11 | 0.35 | -10.69 |
| Total Unusual Items Excluding Goodwill | - | 2.17 | -8.11 | 0.35 | -10.69 |
| Special Income Charges | - | -0.14 | -6.90 | -0.03 | -1.44 |
| Restructuring And Mergern Acquisition | - | 0.14 | 6.90 | 0.03 | 1.44 |
| Gain On Sale Of Security | - | 2.30 | -1.21 | 0.38 | -9.25 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Fabrinetthis co. | FN | $25.6B | 77.02β premium | 12.92 | 16.8% | 60.40 |
| IonQ, Inc. | IONQ | $24.5B | -48.02 | 6.45 | -13.4% | -42.61 |
| Nextpower Inc. | NXT | $22.9B | 39.05 | 9.80 | 25.1% | 29.35 |
| TTM Technologies, Inc. | TTMI | $19.2B | 108.18 | 10.89 | 10.1% | 48.96 |
| DigitalOcean Holdings, Inc. | DOCN | $18.8B | 72.66 | -656.60 |
| - |
| - |
| - |
| -903.7% |
| 55.75 |
| SiTime Corporation | SITM | $18.7B | -434.98 | 16.14 | -3.7% | -922.21 |
| Rambus Inc. | RMBS | $18.3B | 79.46 | 13.42 | 16.9% | 55.81 |
| Applied Optoelectronics, Inc. | AAOI | $16.3B | -425.88 | 22.18 | -5.2% | -1052.31 |
| Vicor Corporation | VICR | $14.0B | 117.69 | 19.61 | 16.7% | 132.12 |
| Peer Median | - | 55.85 | 12.16 | 3.2% | 39.16 | |