AVNET Reports Q4 FY2023 Results with USD 6554.6 Million in Total Revenue, up 2.9% YOY

🌥️Earnings Overview

AVNET ($NASDAQ:AVT) announced their financial results for the fourth quarter of fiscal year 2023 on June 30, 2023, which reported a total revenue of USD 6554.6 million, indicating a 2.9% year-on-year growth. Unfortunately, net income was lower than the same period in the prior year by 37.1%, amounting to USD 155.3 million.

Analysis

GoodWhale has performed an in-depth analysis of AVNET‘s fundamentals. Based on the Risk Rating scale, AVNET is a high risk investment in terms of both financial and business aspects. GoodWhale has detected two risk warnings in the income sheet and balance sheet. To get a better understanding of the situation and to view the exact risk warnings, sign up to goodwhale.com and access the detailed analysis. This will provide insight into the risks associated with investing in AVNET, which can help investors make informed decisions. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Avnet. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Avnet. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Avnet. More…

Key Ratios Snapshot

Some of the financial key ratios for Avnet are shown below. More…

Peers

The company competes with Arrow Electronics Inc, Shanghai Yct Electronics Group Co Ltd, and Honey Hope Honesty Enterprise Co Ltd.

– Arrow Electronics Inc ($NYSE:ARW)

Arrow Electronics Inc is an American company that specializes in electronic components and enterprise computing solutions. The company has a market capitalization of 6.34 billion as of 2022 and a return on equity of 22.84%. The company was founded in 1935 and is headquartered in Denver, Colorado. Arrow Electronics is a global provider of electronic components and enterprise computing solutions. The company serves more than 125,000 original equipment manufacturers, contract manufacturers, and commercial customers through a network of more than 460 locations in 58 countries.

– Shanghai Yct Electronics Group Co Ltd ($SZSE:301099)

Shanghai Yct Electronics Group Co Ltd has a market cap of 5.2B as of 2022, a Return on Equity of 12.95%. The company is engaged in the design, development, manufacture and sale of electronic products and components. It offers a range of products, including integrated circuits, semiconductors, personal computers, mobile phones, home appliances, office equipment, automotive electronics and lighting products. The company has a global customer base and operates in China, North America, Europe and Asia.

– Honey Hope Honesty Enterprise Co Ltd ($TPEX:8043)

Honey Hope Honesty Enterprise Co Ltd is a Taiwanese company that produces and sells a variety of health and beauty products. The company has a market cap of 1.82B as of 2022 and a Return on Equity of 5.28%. Honey Hope Honesty Enterprise Co Ltd’s products include skincare, haircare, and makeup products. The company’s products are sold in Taiwan, China, Hong Kong, and Macau.

Summary

Investors may be disappointed in AVNET’s financial results for the fourth quarter of FY2023, as total revenue only increased 2.9% year-on-year and net income was down 37.1%. This indicates that AVNET has yet to make a full recovery from the effects of the global pandemic. Despite the decrease in net income, the company still generated USD 6554.6 million in total revenue, suggesting that there are opportunities for investors as this figure is still higher than pre-pandemic levels. Therefore, it may be wise for investors to consider investing in AVNET as the company’s financial performance could improve further as the global economy recovers.