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Global distributor of electronic components and embedded/IoT technology solutions for manufacturers and engineers.
Global distributor of electronic components and embedded/IoT technology solutions for manufacturers and engineers.
Buys components from chipmakers and resells them to manufacturers for a thin mark-up, so revenue is large compared with profit and swings with inventory cycles. A separate arm, Farnell, sells small quantities to engineers and for prototypes at better margins than bulk distribution.
Moat: narrow (scale, distribution). Broad supplier/customer network and logistics scale are costly to replicate.
Headquarters: Phoenix, Arizona, US · Founded: 1921 · Employees: 15,040
Size Avnet (AVT) is a United States Information Technology company (Electronics Distributors) with a market value of $6.52B, the 1001st largest of 3,117 United States companies the cockpit tracks. Shares closed at $79.28 on 6 Nov 2026.
Performance Over six months the shares fell 3.4%, against -8.8% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 44.3% over the last twelve months (peer median +28.8%); the operating margin is 3.7% (peer median 3.8%).
Valuation It trades at 5.5× forward earnings against a peer median of 12.8× (2nd cheapest of 17).
Capital Return on invested capital runs 1.6 points above its cost of capital (8.4% WACC).
Credit Avnet has 5 bonds outstanding ($2.30B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 123 bp.
Short interest Short interest is 11.0% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $32.5B | $27.6B | $22.2B | $23.8B | $26.5B |
| Revenue growth | — | +24% | -7% | -10% | — |
| Gross profit | $3.34B | $2.88B | $2.38B | $2.77B | $3.18B |
| EBITDA | $1.35B | $994M | $748M | $1.04B | $1.36B |
| Net income | $565M | $334M | $240M | $499M | $771M |
| Free cash flow | -$1.05B | -$354M | $577M | $464M | -$908M |
| Capital expenditure | $73.2M | $73.6M | $147M | $226M | $195M |
| Total debt | $4.42B | $3.48B | $2.88B | $3.13B | $3.30B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Avnet AVT | $6.52B | -3% | +44% | 4% | 5.5× | n/a |
| Arrow Electronics ARW | $9.22B | -7% | +26% | 4% | 7.4× | 0.1% |
| TD SYNNEX SNX | $17.4B | -9% | +24% | 3% | 9.3× | n/a |
| WPG 3702.TW | $4.78B | -12% | +29% | 2% | 4.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AVT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.4% | -10.8% | 4th lowest of 21 |
| 6-month return | -3.4% | -8.8% | 9th highest of 21 |
| Distance from 52-week high | -27.0% | -28.3% | 10th highest of 21 |
| Revenue growth (TTM) | +44.3% | +28.8% | 8th highest of 21 |
| Operating margin | 3.7% | 3.8% | 10th lowest of 21 |
| Forward P/E | 5.5× | 12.8× | 2nd cheapest of 17 |
| ROIC minus cost of capital | +1.6 pp | +4.7 pp | 4th lowest of 21 |
| Net debt / EBITDA | 3.1× | 1.1× | 4th most indebted of 14 |
| Bond spread | 123 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avnet AVT | United States | $6.52B | -3% | +44% | 4% | 5.5× | n/a | n/a |
| WT Microelectronics 3036.TW | Taiwan | $7.53B | -11% | +70% | 2% | 6.3× | -11.9% | +27.2% |
| Puya Semiconductor (Shanghai) 688766.SS | China | $5.30B | -12% | +323% | 37% | 13.0× | 15.2% | +26.5% |
| Canon Marketing Japan 8060.T | Japan | $5.26B | +5% | +3% | 10% | 17.1× | -7.2% | +4.5% |
| WPG 3702.TW | Taiwan | $4.78B | -12% | +29% | 2% | 4.4× | n/a | n/a |
| Arrow Electronics ARW | United States | $9.22B | -7% | +26% | 4% | 7.4× | 0.1% | +1.5% |
| Synnex Technology International 2347.TW | Taiwan | $4.26B | +3% | +36% | 2% | 7.8× | n/a | n/a |
| WinWay Technology 6515.TW | Taiwan | $3.63B | -67% | +45% | 24% | 27.9× | 32.8% | +22.0% |
| Shenzhen Huaqiang Industry 000062.SZ | China | $3.04B | -48% | +48% | 4% | n/a | n/a | n/a |
| ALSO ALSN.SW | Switzerland | $3.01B | +17% | +29% | 2% | 16.7× | -4.4% | -0.1% |
| Resideo Technologies REZI | United States | $2.95B | +6% | +3% | 8% | 13.8× | n/a | n/a |
| Qi An Xin Technology 688561.SS | China | $2.61B | -15% | -14% | -45% | n/a | n/a | n/a |
| BIPROGY 8056.T | Japan | $2.47B | -3% | +4% | 10% | 13.1× | -9.5% | +7.1% |
| TD SYNNEX SNX | United States | $17.4B | -9% | +24% | 3% | 9.3× | n/a | n/a |
| Nanjing Sunlord Electronics 300975.SZ | China | $2.40B | -11% | +109% | 8% | n/a | n/a | n/a |
| SoftwareOne SWON.SW | Switzerland | $2.30B | +11% | +62% | 12% | 12.6× | -5.7% | +8.4% |
| Shenzhen CECport Technologies 001287.SZ | China | $2.28B | -24% | +138% | 2% | n/a | n/a | n/a |
| ASBISc Enterprises ASB.WA | Poland | $2.17B | +123% | +43% | 4% | 12.6× | 5.9% | +9.5% |
| Xi'an Novastar Tech 301589.SZ | China | $2.12B | -9% | +15% | 17% | 22.0× | 15.9% | +28.7% |
| SINBON Electronics 3023.TW | Taiwan | $1.88B | -11% | +9% | 10% | 15.4× | -0.1% | +7.3% |
| Daiwabo 3107.T | Japan | $1.79B | +4% | +14% | 3% | 10.8× | -7.7% | +5.3% |
Avnet has 5 bonds outstanding with $2.30B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.76%, a spread of 123 bp over government bonds.