We assign a fundamental rating of 5 out of 10 to PLXS. PLXS was compared to 124 industry peers in the Electronic Equipment, Instruments & Components industry. PLXS scores excellent on profitability, but there are some minor concerns on its financial health. PLXS is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

In the past year PLXS was profitable.
PLXS had a positive operating cash flow in the past year.
PLXS had positive earnings in each of the past 5 years.
Of the past 5 years PLXS 4 years had a positive operating cash flow.

1.2 Ratios

With a decent Return On Assets value of 5.51%, PLXS is doing good in the industry, outperforming 73.98% of the companies in the same industry.
Looking at the Return On Equity, with a value of 11.89%, PLXS is in the better half of the industry, outperforming 78.86% of the companies in the same industry.
PLXS has a better Return On Invested Capital (11.40%) than 88.62% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for PLXS is above the industry average of 8.83%.

		Industry Rank	Sector Rank
ROA	5.51%
ROE	11.89%
ROIC	11.4%

ROA(3y)4.41%

ROA(5y)4.59%

ROE(3y)10.59%

ROE(5y)11.58%

ROIC(3y)11.81%

ROIC(5y)11.8%

1.3 Margins

The Profit Margin of PLXS (4.29%) is better than 66.67% of its industry peers.
In the last couple of years the Profit Margin of PLXS has grown nicely.
PLXS has a better Operating Margin (5.13%) than 65.04% of its industry peers.
PLXS's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 10.08%, PLXS is doing worse than 80.49% of the companies in the same industry.
In the last couple of years the Gross Margin of PLXS has grown nicely.

		Industry Rank	Sector Rank
OM	5.13%
PM (TTM)	4.29%
GM	10.08%

OM growth 3Y2.78%

OM growth 5Y1.78%

PM growth 3Y5.74%

PM growth 5Y4.34%

GM growth 3Y3.43%

GM growth 5Y1.79%

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ROA

ROE

ROIC

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PLXS is destroying value.
The number of shares outstanding for PLXS has been reduced compared to 1 year ago.
The number of shares outstanding for PLXS has been reduced compared to 5 years ago.
The debt/assets ratio for PLXS has been reduced compared to a year ago.

2.2 Solvency

PLXS has an Altman-Z score of 4.39. This indicates that PLXS is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of PLXS (4.39) is better than 62.60% of its industry peers.
PLXS has a debt to FCF ratio of 0.89. This is a very positive value and a sign of high solvency as it would only need 0.89 years to pay back of all of its debts.
The Debt to FCF ratio of PLXS (0.89) is better than 82.93% of its industry peers.
PLXS has a Debt/Equity ratio of 0.06. This is a healthy value indicating a solid balance between debt and equity.
PLXS has a Debt to Equity ratio (0.06) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.06
Debt/FCF	0.89
Altman-Z	4.39

ROIC/WACC0.74

WACC15.44%

2.3 Liquidity

A Current Ratio of 1.58 indicates that PLXS should not have too much problems paying its short term obligations.
PLXS's Current ratio of 1.58 is on the low side compared to the rest of the industry. PLXS is outperformed by 73.17% of its industry peers.
A Quick Ratio of 0.77 indicates that PLXS may have some problems paying its short term obligations.
With a Quick ratio value of 0.77, PLXS is not doing good in the industry: 87.80% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
Current Ratio	1.58
Quick Ratio	0.77

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WACC

Debt/Equity

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3. Growth

3.1 Past

PLXS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 51.02%, which is quite impressive.
PLXS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.79% yearly.
The Revenue has been growing slightly by 1.82% in the past year.
Measured over the past years, PLXS shows a small growth in Revenue. The Revenue has been growing by 3.53% on average per year.

EPS 1Y (TTM)51.02%

EPS 3Y14.57%

EPS 5Y12.79%

EPS Q2Q%15.68%

Revenue 1Y (TTM)1.82%

Revenue growth 3Y1.9%

Revenue growth 5Y3.53%

Sales Q2Q%0.74%

3.2 Future

Based on estimates for the next years, PLXS will show a small growth in Earnings Per Share. The EPS will grow by 6.99% on average per year.
Based on estimates for the next years, PLXS will show a small growth in Revenue. The Revenue will grow by 7.80% on average per year.

EPS Next Y2.4%

EPS Next 2Y6.75%

EPS Next 3Y6.99%

EPS Next 5YN/A

Revenue Next Year9.14%

Revenue Next 2Y8.07%

Revenue Next 3Y7.8%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 23.42, the valuation of PLXS can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of PLXS indicates a somewhat cheap valuation: PLXS is cheaper than 74.80% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.21. PLXS is around the same levels.
The Price/Forward Earnings ratio is 22.87, which indicates a rather expensive current valuation of PLXS.
Based on the Price/Forward Earnings ratio, PLXS is valued a bit cheaper than 69.11% of the companies in the same industry.
PLXS is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 24.26, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	23.42
Fwd PE	22.87

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PLXS indicates a somewhat cheap valuation: PLXS is cheaper than 72.36% of the companies listed in the same industry.
68.29% of the companies in the same industry are more expensive than PLXS, based on the Price/Free Cash Flow ratio.

		Industry Rank	Sector Rank
P/FCF	30.26
EV/EBITDA	15.76

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of PLXS may justify a higher PE ratio.