Fabrinet
FNMarket price data through November 12, 2026.
Performance
Nov 2021 – Nov 2026
Track record
How this pick has done since Benson first called it.
- Benson Return
- -45%
- How much this stock is up since Benson first picked it — measured from the price at the time of that first pick, not from today.
- First pick price
- ~$643
- Roughly what one share cost when Benson first picked this stock. This is the starting line for the Benson Return.
- Tracking since
- April 2026
- The month this stock first became a Benson pick.
- Tracking duration
- 6 months
- How long Benson has been tracking this pick.
About Fabrinet
Fabrinet is the hidden factory behind the tiny laser and fiber optic parts that let thousands of AI chips inside data centers talk to each other, for customers like NVIDIA. Most of the work happens in its precision plants in Thailand, where it assembles delicate gear that big tech hardware makers would rather not build themselves. Business is booming, with revenue up 51% to a record last quarter and another record expected next quarter.
The case for and against
Both sides of the story, in plain English.
- Record Revenue Rocket
First quarter revenue hit a record 1.47 billion dollars, up 51% from a year ago and above management's own forecast. Adjusted profit per share jumped about 49% to 4.34 dollars. Management credits strong demand across several big programs, plus new products ramping up as AI data centers race to connect more chips.
- Momentum Keeps Building
Management expects next quarter revenue of 1.6 to 1.65 billion dollars, which would be yet another record. The board also added 103 million dollars to its stock buyback plan, bringing the total to about 637 million. Factory buildings and equipment grew 27% in just three months to 778 million dollars, a sign they are building room for more growth.
- Thin Profit Cushion
Fabrinet keeps only about 12 cents of every sales dollar after paying for parts and labor. That thin cushion showed this quarter: revenue jumped 51%, but reported profit rose just 8% to 103.5 million dollars. A tax bill that grew nearly fivefold to 26 million dollars and a roughly 22 million dollar loss on an outside investment ate into the gains.
- Few Big Customers
Fabrinet leans on a small handful of very large customers, with NVIDIA among the biggest. If one changes designs, brings work in house, or slows AI spending, sales could drop fast. Inventory also climbed 17% in a single quarter to nearly 1.2 billion dollars, and the company took on about 75 million dollars in new borrowing after carrying zero debt last quarter.
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How to read this page
This automated research summary uses Financial Modeling Prep market data through 2026-11-12. Model signals, scores, and risk labels can change and may be incomplete or wrong.
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