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Avnet

AVT on Nasdaq. Avnet sells electronic components to manufacturers, design firms, and other businesses. Market value $8.7bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-4.1%low

For every $100 of what the whole company costs, it produced $-4.06 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
16.3×full

You pay 16.3 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to June 2026
8.9%five-year median

Each dollar kept in the business earns 9 cents a year. Above 10 is good.

Quality score: 64 of 100. Price score: 46 of 100. Our list needs 70 on quality and 60 on price.

$106.37 a share, 140% above its 1-year low

Over the past year the price has ranged from $44.25 to $108.63.

Dividend: 1.3% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.3
-0.9
0.5
0.6
-0.4
20222023202420252026
Revenue
$24.3bn$26.5bn$23.8bn$22.2bn$27.6bn
Operating margin
3.9%4.5%3.6%2.3%2.6%
Debt to equity
0.380.640.590.530.64
Shares outstanding
0.09bn0.09bn0.08bn0.08bn0.08bn

Health checks

  • Free cash flow positive2 of 5 years
  • Accounting looks honest (Beneish)Watch
  • Financial strength (Piotroski)2 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.64× equity
  • Revenue growth, five yearsSlow, 7.2% a year
  • Buying back its own sharesYes, 10% fewer since 2022

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $8.3 billion last quarter, up 48% on a year ago.
  • Profit: $127 million, up 1979% on a year ago.
  • It keeps 3 cents of each $1 of sales as operating profit, up from 2 cents a year earlier.
  • Over the past 12 months it spent $354 million more cash than it brought in. A year earlier it had $577 million spare.
  • Debt is $3.1 billion more than cash, up from $2.5 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$5.6bn
December 2024$5.7bn
March 2025$5.3bn
June 2025$5.6bn
September 2025$5.9bn
December 2025$6.3bn
March 2026$7.1bn
June 2026$8.3bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$59m
December 2024$87m
March 2025$88m
June 2025$6m
September 2025$52m
December 2025$62m
March 2026$94m
June 2026$127m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
14 August 2026
Next quarterly (estimated, 10-Q)
31 July 2026

Who owns it

9 long-term investors we follow own it, unchanged from 9 last quarter. 507 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $99,998 of shares on the open market. 5 sold $17m.

  • McCoy Michael Ryan
    SVP, General Counsel
    Sold
    Date
    19 August 2026
    Shares
    32,052
    Price
    $91.10
    Value
    $3m
  • GALLAGHER PHILIP R
    Chief Executive Officer, Director
    Sold
    Date
    12 August 2026
    Shares
    51,900
    Price
    $98.46
    Value
    $5m
  • JACOBSON KENNETH A
    Chief Financial Officer
    Sold
    Date
    22 May 2026
    Shares
    12,000
    Price
    $85.26
    Value
    $1m
  • GALLAGHER PHILIP R
    Chief Executive Officer, Director
    Sold
    Date
    5 May 2026
    Shares
    23,920
    Price
    $82.92
    Value
    $2m
  • GALLAGHER PHILIP R
    Chief Executive Officer, Director
    Sold
    Date
    24 February 2026
    Shares
    46,068
    Price
    $67.42
    Value
    $3m
  • McCoy Michael Ryan
    SVP, General Counsel
    Sold
    Date
    17 February 2026
    Shares
    36,292
    Price
    $65.48
    Value
    $2m
  • Youngblood Jay David
    SVP, Chief Digital Officer
    Sold
    Date
    12 February 2026
    Shares
    987
    Price
    $66.27
    Value
    $65,408
  • Chan Leng Jin
    SVP, CIO
    Sold
    Date
    2 February 2026
    Shares
    9,226
    Price
    $61.53
    Value
    $567,676
  • JACOBSON KENNETH A
    Chief Financial Officer
    Bought
    Date
    7 November 2025
    Shares
    2,139
    Price
    $46.75
    Value
    $99,998

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 14 Aug 2026, plus 1 later 8-K.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On September 30, 2025, the Audit Committee of the Board of Directors of Avnet, Inc. (the “Company”), following careful deliberation, approved PricewaterhouseCoopers LLP as the Company’s new independent registered public accounting firm, subject to completion of its standard client acceptance procedures.”

    From an 8-K filed 3 October 2025: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.