Avnet, Inc.
- Open
- 91.49
- Day high
- 92.70
- Day low
- 88.43
- Prev close
- 91.52
- Volume
- 860K
- Mkt cap
- $7.4B
- P/E (TTM)
- 22.0
- EPS (TTM)
- $4.03
- P/B
- 1.5
- P/S
- 0.3
- Yield
- 1.56%
- Per share
- $1.40
- ▼Insiders net selling -$8.0M over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Avnet, Inc. (AVT) is a Technology company listed on NASDAQ. The stock is up 70% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 2 published research articles covering AVT.
Avnet, Inc. (AVT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AVT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $1.80 | $2.28 | +26.7% | $8.3B | +9.8% |
| Apr 29, 2026 | $1.33 | $1.48 | +11.3% | $7.1B | +10.3% |
| Jan 28, 2026 | $0.95 | $1.05 | +10.5% | $6.3B | +4.8% |
| Oct 29, 2025 | $0.82 | $0.84 | +2.8% | $5.9B | +2.7% |
| Aug 6, 2025 | $0.72 | $0.81 | +12.5% | $5.6B | +0.8% |
| Apr 30, 2025 | $0.72 | $0.84 | +16.7% | $5.3B | -1.2% |
| Jan 29, 2025 | $0.88 | $0.87 | -1.1% | $5.7B | +1.9% |
| May 1, 2024 | $1.11 | $1.10 | -0.9% | $5.7B | +5.3% |
| Jan 31, 2024 | $1.40 | $1.40 | +0.0% | $6.2B | +0.7% |
| Nov 1, 2023 | $1.52 | $1.61 | +5.9% | $6.3B | +0.1% |
| Aug 16, 2023 | $1.65 | $2.06 | +24.8% | $6.6B | +4.5% |
| May 3, 2023 | $1.79 | $2.00 | +11.7% | $6.5B | +3.1% |
AVT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | McCoy Michael Ryanofficer: SVP, General Counsel | Tax | 2,318 | $87.81 |
| Aug 28, 2026 | Arnold Ken E.officer: SVP, Chief People Officer | Grant | 5,111 | — |
| Aug 28, 2026 | Arnold Ken E.officer: SVP, Chief People Officer | Tax | 2,139 | $87.81 |
| Aug 28, 2026 | Chan Leng Jinofficer: SVP, CIO | Grant | 3,194 | — |
| Aug 28, 2026 | GALLAGHER PHILIP Rdirector, officer: Chief Executive Officer | Tax | 12,476 | $87.81 |
| Aug 28, 2026 | JACOBSON KENNETH Aofficer: Chief Financial Officer | Tax | 2,674 | $87.81 |
| Aug 28, 2026 | GALLAGHER PHILIP Rdirector, officer: Chief Executive Officer | Grant | 29,811 | — |
| Aug 28, 2026 | Chan Leng Jinofficer: SVP, CIO | Tax | 1,337 | $87.81 |
| Aug 28, 2026 | McCoy Michael Ryanofficer: SVP, General Counsel | Grant | 5,537 | — |
| Aug 28, 2026 | JACOBSON KENNETH Aofficer: Chief Financial Officer | Grant | 6,388 | — |
| Aug 21, 2026 | McCoy Michael Ryanofficer: SVP, General Counsel | Sell | 32,052 | $91.10 |
| Aug 21, 2026 | GALLAGHER PHILIP Rdirector, officer: Chief Executive Officer | Grant | 120,991 | — |
| Aug 21, 2026 | Youngblood Jay Davidofficer: SVP, Chief Digital Officer | Grant | 7,090 | — |
| Aug 21, 2026 | McCoy Michael Ryanofficer: SVP, General Counsel | Option | 32,052 | $39.62 |
| Aug 21, 2026 | McCoy Michael Ryanofficer: SVP, General Counsel | Grant | 22,538 | — |
Source: AVT SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full AVT insider & 13F page →AVT research & analysis
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Avnet, Inc. company profile
Overview
Avnet, Inc. (NASDAQ:AVT) is a global technology solutions company founded in 1921 and headquartered in Phoenix, Arizona. The company has evolved from its origins as a radio parts distributor into one of the world's largest electronic component distributors, serving as a critical intermediary between semiconductor manufacturers and the companies that use these components in their products. With operations spanning the Americas, Europe, the Middle East, Africa, and Asia Pacific, Avnet has established itself as a key player in the global electronics supply chain over more than a century of operations.
Business
Avnet operates as a technology distributor in the global electronics supply chain, functioning as an essential intermediary between component manufacturers and end customers. The company's core business involves purchasing electronic components from manufacturers like semiconductor companies and then reselling them to original equipment manufacturers (OEMs), electronic manufacturing service providers, and other businesses that incorporate these components into their final products. The company operates through two primary business segments that represent distinct market approaches and customer bases: 1. **Electronic Components segment** (approximately 90% of revenue): This division markets, sells, and distributes semiconductors, interconnect devices, passive components, and electromechanical devices from major manufacturers. Beyond simple distribution, this segment provides comprehensive design chain support, offering engineers technical design solutions, bill of materials development, and educational resources. The segment also delivers supply chain solutions including logistics services and develops integrated solutions such as embedded products and display systems. Key end markets include automotive, medical, defense, aerospace, telecommunications, industrial applications, and digital systems. 2. **Farnell segment** (approximately 10% of revenue): This division focuses on distributing development kits, tools, electronic components, and industrial automation products primarily to engineers, entrepreneurs, and smaller customers. Farnell operates with a strong e-commerce platform, with over half of its sales conducted online, and serves customers who typically need smaller quantities of components for prototyping, maintenance, and small-scale production. The electronic components distribution industry serves as a critical link in the global technology supply chain. Component manufacturers like Intel, Texas Instruments, or Analog Devices produce semiconductors and other electronic parts, but they typically prefer to sell in large volumes to major distributors rather than managing relationships with thousands of smaller customers. Distributors like Avnet then break down these large purchases into smaller quantities suitable for their diverse customer base, while also providing value-added services like technical support, inventory management, and supply chain optimization.
Revenue model
Avnet generates revenue primarily through product sales, operating on a traditional distribution model where the company purchases electronic components from manufacturers and resells them to customers at a markup. The company's gross margins typically range from 11-13%, reflecting the competitive nature of component distribution where value is created through service, logistics, and technical expertise rather than high product margins. The company's customers include original equipment manufacturers (OEMs) who build final products like smartphones, automobiles, or industrial equipment, as well as electronic manufacturing service providers (EMS) who manufacture products on behalf of other companies. Additionally, through its Farnell segment, Avnet serves engineers, entrepreneurs, and smaller companies who need components for prototyping, research and development, or small-scale production. Beyond basic product sales, Avnet generates additional revenue through value-added services including supply chain orchestration, technical design support, inventory management, and embedded systems development. These services typically command higher margins than pure component distribution and represent an increasingly important part of the company's strategy. The company has also developed "demand creation" capabilities, where it works with customers early in their design process to influence component selection, representing about 30% of Electronic Components revenue. Several factors influence Avnet's profitability and margins. **Positive factors** include semiconductor industry growth driven by increasing electronic content in automobiles, industrial automation, and emerging technologies like artificial intelligence and edge computing. Strong relationships with both suppliers and customers create opportunities for higher-margin services and preferred access to scarce components during supply shortages. The company's global scale provides operational leverage and negotiating power with suppliers. **Negative factors** include the cyclical nature of the semiconductor industry, which experiences regular boom-bust cycles affecting demand and pricing. Inventory management presents ongoing challenges, as the company must balance having sufficient stock to serve customers against the risk of holding obsolete components as technology evolves. Competitive pressures from other distributors and direct sales by manufacturers can compress margins. Additionally, macroeconomic factors like recession, trade tensions, and currency fluctuations can significantly impact regional demand patterns and profitability.
Competitive moat
Avnet's competitive moat is moderate and primarily derived from its scale, relationships, and operational expertise rather than unique technology or intellectual property. The company's most significant advantage lies in its extensive global supplier relationships built over decades, which provide preferred access to components during shortages and favorable purchasing terms. These relationships are difficult for smaller competitors to replicate and create switching costs for both suppliers and customers who rely on Avnet's established networks. The company's global logistics infrastructure and inventory management capabilities represent another source of competitive advantage. With operations across multiple continents and sophisticated supply chain systems, Avnet can optimize inventory placement, manage complex international shipping requirements, and provide customers with reliable access to components regardless of their location. This scale advantage becomes particularly valuable during supply chain disruptions when customers prioritize reliability over price. However, Avnet's moat faces several challenges and limitations. The distribution business is inherently intermediary in nature, making it vulnerable to disintermediation as manufacturers increasingly sell directly to large customers or through online platforms. The rise of e-commerce and digital marketplaces has lowered barriers to entry for smaller distributors and made price comparison easier for customers. Additionally, the commoditized nature of many electronic components limits pricing power and keeps margins relatively low. Competition comes from both large global distributors like Arrow Electronics and regional specialists who may offer superior service in specific markets or product categories. Manufacturers also represent a competitive threat as they continue to expand their direct sales capabilities, particularly to large OEM customers. The company's competitive position is strongest in complex, service-intensive situations where technical expertise and supply chain management add significant value, but weaker in straightforward commodity transactions where price is the primary consideration. While Avnet has built a solid market position through scale and relationships, its moat is not particularly deep or durable compared to companies with stronger network effects, switching costs, or unique assets. The company must continuously invest in value-added services and maintain strong execution to preserve its competitive advantages.
Risks & safety
Avnet demonstrates a moderate margin of safety with generally stable financial metrics but some areas of concern related to cyclical industry dynamics and working capital management. **Liquidity and Solvency:** - Current ratio of 2.44 indicates strong short-term liquidity - Cash position of approximately $189 million is relatively modest given the company's size - Debt-to-equity ratio of 0.58 represents manageable leverage levels - Free cash flow of $114 million in recent quarter shows positive cash generation **Valuation Metrics:** - Price-to-earnings ratio of 11.5 suggests reasonable valuation relative to earnings - Price-to-book ratio of 0.83 indicates trading below book value - EV/EBITDA of 10.0 is moderate for a cyclical distributor - Graham number analysis suggests potential undervaluation **Key Concerns:** - Working capital intensive business model with over $9.8 billion in current assets, primarily inventory - Cyclical earnings pattern with significant variability based on semiconductor industry cycles - Negative free cash flow in some periods due to inventory investment requirements - Revenue declining 6% year-over-year in recent quarter, indicating challenging market conditions The company's financial position appears stable for normal operations, but the large inventory requirements and cyclical nature of the business create potential risks during prolonged downturns. The current valuation appears reasonable but not exceptionally cheap given the cyclical challenges facing the semiconductor distribution industry.
Recent development
Over the past few years, Avnet has undergone significant strategic repositioning to focus exclusively on electronic components distribution while divesting non-core assets. The company completed the sale of its Technology Solutions business in 2017, allowing management to concentrate resources on its core distribution competencies and higher-margin opportunities within the electronics supply chain. A major strategic initiative has been the expansion of value-added services beyond traditional distribution. The company has invested heavily in "demand creation" capabilities, working with customers early in their design process to influence component selection and provide technical expertise. This approach now represents approximately 30% of Electronic Components revenue and typically generates higher margins than commodity distribution. Additionally, Avnet has developed supply chain orchestration services, helping large OEMs manage complex global supply chains and providing inventory management solutions. The company has also focused on digital transformation initiatives, particularly through its Farnell segment, which has achieved over 50% of sales through e-commerce platforms. Avnet has invested in digital design tools, online catalogs, and automated ordering systems to improve customer experience and operational efficiency. The launch of the Tria brand for embedded compute modules and systems represents an effort to move further up the value chain by offering more integrated solutions rather than individual components. Geographically, Avnet has been adapting to shifting global dynamics, with particular attention to growth opportunities in Asia Pacific markets and managing challenges in European markets. The company has implemented strategies to address potential tariff impacts, including diversifying supply sources and leveraging its global logistics network to offer alternative country-of-origin products. Recent quarters have shown strong performance in Asia Pacific markets, particularly in AI-related components, while European markets have remained challenging due to macroeconomic conditions. The company has also undertaken operational improvements at Farnell, including leadership changes, cost reduction initiatives, and a transition to a regional sales model. Management has set targets to return Farnell to double-digit operating margins through improved operational efficiency and market recovery.
AVT company profile · for informational purposes only — not investment advice.
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