NYSE : ARW
Arrow Electronics, Inc. — Financial statements
Technology · Electronics & Computer Distribution · United States
Last price 208.34 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.61B
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Financial statements
Arrow Electronics, Inc. (ARW) reported revenue of 35.92B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 35.92B | 30.85B | 27.92B | 33.11B | 37.12B | 34.48B |
| Cost of Revenue | 31.88B | 27.40B | 24.57B | 28.96B | 32.29B | 30.27B |
| Gross Profit | 4.05B | 3.46B | 3.35B | 4.15B | 4.84B | 4.20B |
| Selling, General & Admin | 2.57B | 2.39B | 2.22B | 2.48B | 2.57B | 2.45B |
| Other Operating Expenses | 4.04M | 6.42M | 96.67M | 45.64M | 3.96M | -1.28M |
| Operating Expenses | 2.72B | 2.54B | 2.48B | 2.71B | 2.76B | 2.65B |
| Operating Income | 1.33B | 919.65M | 871.52M | 1.44B | 2.07B | 1.56B |
| Interest Expense | -207.17M | -210.00M | -253.50M | -340.50M | -209.30M | -127.80M |
| Interest & Investment Income | 75.40M | 46.80M | 54.50M | 66.40M | 33.70M | 14.70M |
| Earnings From Equity Investments | 5.50M | 3.20M | 1.37M | 6.41M | 7.66M | 3.51M |
| Currency Exchange Gain (Loss) | 2.68M | 3.43M | 6.75M | 7.46M | 8.80M | 8.80M |
| Other Non Operating Income (Expenses) | -55.33M | -55.33M | -77.58M | -62.08M | -18.85M | -27.43M |
| EBT Excluding Unusual Items | 1.15B | 707.74M | 603.05M | 1.12B | 1.90B | 1.43B |
| Merger & Restructuring Charges | -121.53M | -98.16M | -100.43M | -8.88M | -6.62M | -16.67M |
| Gain (Loss) on Sale of Investments | 12.02M | 109.89M | -4.83M | 19.28M | -2.86M | 12.95M |
| Legal Settlements | 62.20M | 12.50M | ||||
| Other Unusual Items | -1.55M | -1.55M | -8.47M | -29.40M | -3.16M | |
| Pretax Income | 1.04B | 717.93M | 489.32M | 1.16B | 1.88B | 1.44B |
| Income Tax Expense | 230.50M | 148.23M | 95.81M | 254.99M | 448.99M | 325.91M |
| Earnings From Continuing Operations | 811.67M | 569.69M | 393.51M | 909.36M | 1.44B | 1.11B |
| Minority Interest in Earnings | -59.00K | 1.57M | -1.43M | -5.86M | -8.27M | -2.27M |
| Net Income | 811.61M | 571.27M | 392.07M | 903.50M | 1.43B | 1.11B |
| Net Income to Common | 811.61M | 571.27M | 392.07M | 903.50M | 1.43B | 1.11B |
| Shares Outstanding (Basic) | 51.43M | 51.80M | 53.28M | 56.36M | 64.84M | 72.47M |
| Shares Outstanding (Diluted) | 51.90M | 52.26M | 53.80M | 57.03M | 65.45M | 73.39M |
| EPS (Basic) | 15.78 | 11.03 | 7.36 | 16.03 | 22.01 | 15.29 |
| EPS (Diluted) | 15.65 | 10.93 | 7.29 | 15.84 | 21.80 | 15.10 |
| Free Cash Flow | 825.46M | -37.20M | 1.04B | 622.16M | -111.91M | 335.93M |
| Free Cash Flow Per Share | 15.91 | -0.71 | 19.29 | 10.91 | -1.71 | 4.58 |
| Gross Margin | 11.27% | 11.20% | 12.01% | 12.53% | 13.03% | 12.19% |
| Operating Margin | 3.71% | 2.98% | 3.12% | 4.36% | 5.59% | 4.51% |
| Profit Margin | 2.26% | 1.85% | 1.40% | 2.73% | 3.84% | 3.21% |
| Free Cash Flow Margin | 2.30% | -0.12% | 3.72% | 1.88% | -0.30% | 0.97% |
| EBITDA | 1.47B | 1.06B | 1.03B | 1.62B | 2.26B | 1.75B |
| EBITDA Margin | 4.09% | 3.43% | 3.71% | 4.91% | 6.09% | 5.08% |
| D&A For EBITDA | 138.43M | 137.75M | 162.99M | 181.12M | 187.38M | 195.12M |
| EBIT | 1.33B | 919.65M | 871.52M | 1.44B | 2.07B | 1.56B |
| EBIT Margin | 3.71% | 2.98% | 3.12% | 4.36% | 5.59% | 4.51% |
| Effective Tax Rate | 22.12% | 20.65% | 19.58% | 21.90% | 23.83% | 22.69% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 244.63M | 306.47M | 188.81M | 218.05M | 176.91M | 222.19M |
| Cash & Short-Term Investments | 244.63M | 306.47M | 188.81M | 218.05M | 176.91M | 222.19M |
| Receivables | 28.01B | 19.74B | 13.03B | 12.24B | 12.32B | 11.12B |
| Inventory | 5.94B | 5.08B | 4.71B | 5.19B | 5.32B | 4.20B |
| Other Current Assets | 796.03M | 533.03M | 471.91M | 684.13M | 521.34M | 345.22M |
| Total Current Assets | 34.99B | 25.66B | 18.40B | 18.33B | 18.34B | 15.89B |
| Property, Plant & Equipment | 460.82M | 723.47M | 720.39M | 800.26M | 874.01M | 950.81M |
| Long-Term Investments | 105.04M | 101.10M | 100.21M | 120.37M | 171.67M | 142.51M |
| Goodwill | 2.11B | 2.12B | 2.06B | 2.05B | 2.03B | 2.08B |
| Other Intangible Assets | 67.51M | 77.02M | 96.71M | 127.44M | 159.14M | 195.03M |
| Other Long-Term Assets | 644.87M | 396.44M | 383.70M | 300.19M | 190.40M | 273.49M |
| Total Assets | 38.38B | 29.08B | 21.76B | 21.73B | 21.76B | 19.54B |
| Accounts Payable | 27.11B | 17.38B | 11.05B | 10.07B | 10.46B | 9.62B |
| Accrued Expenses | 1.52B | 1.38B | 1.17B | 1.39B | 1.27B | 1.26B |
| Short-Term Debt | 7.15M | 341.00K | 170.00K | 1.15B | 211.99M | 32.84M |
| Current Portion of Long-Term Debt | 110.39M | 349.81M | 499.22M | 377.89M | 349.78M | |
| Current Portion of Leases | 76.54M | 68.94M | 74.23M | 69.47M | 66.98M | |
| Total Current Liabilities | 28.74B | 18.85B | 12.64B | 13.19B | 12.39B | 11.33B |
| Long-Term Debt | 2.05B | 3.08B | 2.77B | 2.15B | 3.18B | 2.24B |
| Long-Term Leases | 186.72M | 198.47M | 210.11M | 227.04M | 221.75M | |
| Other Long-Term Liabilities | 502.54M | 302.61M | 317.77M | 296.86M | 352.22M | 402.41M |
| Total Liabilities | 31.30B | 22.42B | 15.93B | 15.85B | 16.15B | 14.19B |
| Common Stock | 56.09M | 55.84M | 55.59M | 57.69M | 125.42M | 125.42M |
| Additional Paid-In Capital | 613.56M | 586.99M | 562.08M | 553.34M | 1.21B | 1.19B |
| Retained Earnings | 7.06B | 6.55B | 5.98B | 5.79B | 9.21B | 7.79B |
| Treasury Stock | -554.35M | -483.57M | -328.08M | -297.75M | -4.64B | -3.63B |
| Comprehensive Income & Other | -170.04M | -126.64M | -509.27M | -298.04M | -365.26M | -191.66M |
| Total Common Equity | 7.01B | 6.58B | 5.76B | 5.81B | 5.55B | 5.28B |
| Minority Interest | 73.70M | 73.99M | 70.38M | 71.84M | 65.00M | 58.55M |
| Shareholders' Equity | 7.08B | 6.66B | 5.83B | 5.88B | 5.61B | 5.34B |
| Total Liabilities & Equity | 38.38B | 29.08B | 21.76B | 21.73B | 21.76B | 19.54B |
| Total Debt | 2.17B | 3.35B | 3.39B | 4.09B | 4.07B | 2.92B |
| Net Cash (Debt) | -1.93B | -3.04B | -3.20B | -3.87B | -3.89B | -2.69B |
| Net Cash Per Share | -37.11 | -58.21 | -59.53 | -67.93 | -59.47 | -36.71 |
| Filing Date Shares Outstanding | 50.91M | 51.09M | 52.17M | 53.81M | 58.28M | 67.69M |
| Total Common Shares Outstanding | 50.98M | 51.07M | 52.17M | 53.81M | 59.25M | 68.07M |
| Working Capital | 6.25B | 6.81B | 5.77B | 5.14B | 5.95B | 4.57B |
| Book Value Per Share | 137.42 | 128.94 | 110.43 | 107.89 | 93.61 | 77.61 |
| Tangible Book Value | 4.83B | 4.39B | 3.61B | 3.63B | 3.36B | 3.01B |
| Tangible Book Value Per Share | 94.72 | 85.91 | 69.18 | 67.41 | 56.70 | 44.18 |
| Land | 5.69M | 5.69M | 5.69M | 5.69M | 5.69M | 5.74M |
| Buildings | 205.84M | 199.43M | 194.06M | 195.58M | 184.21M | 186.10M |
| Machinery | 1.73B | 1.72B | 1.62B | 1.63B | 1.58B | 1.52B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 811.61M | 571.27M | 392.07M | 903.50M | 1.43B | 1.11B |
| Depreciation & Amortization | 138.43M | 137.75M | 162.99M | 181.12M | 187.38M | 195.12M |
| Loss (Gain) From Sale of Assets | 22.83M | |||||
| Loss (Gain) From Sale of Investments | -12.42M | -110.27M | 5.07M | -10.82M | 2.86M | -12.83M |
| Loss (Gain) on Equity Investments | -5.50M | -3.20M | -1.37M | -6.41M | -7.66M | -3.51M |
| Stock-Based Compensation | 20.10M | 27.88M | 34.63M | 41.57M | 42.93M | 36.12M |
| Other Operating Activities | -28.49M | -37.40M | -91.26M | -67.18M | -1.16M | 35.45M |
| Change in Accounts Receivable | -12.78B | -6.34B | -1.01B | 189.43M | -1.43B | -2.11B |
| Change in Inventory | -1.21B | -286.18M | 421.06M | 139.31M | -1.17B | -960.61M |
| Change in Accounts Payable | 13.91B | 6.11B | 1.09B | -457.38M | 945.82M | 1.77B |
| Change in Other Net Operating Assets | 69.89M | -1.58M | 127.81M | -207.69M | -33.94M | 363.29M |
| Operating Cash Flow | 936.37M | 64.05M | 1.13B | 705.45M | -33.08M | 418.98M |
| Capital Expenditures | -110.90M | -101.25M | -92.70M | -83.28M | -78.84M | -83.05M |
| Sale of Property, Plant & Equipment | 5.16M | 22.17M | ||||
| Cash Acquisitions | -34.83M | |||||
| Investment in Securities | 100.00M | |||||
| Other Investing Activities | 24.86M | 27.94M | 10.96M | 21.12M | 762.00K | |
| Investing Cash Flow | -110.90M | 23.60M | -94.44M | -72.32M | -57.71M | -60.12M |
| Short-Term Debt Issued | 866.01M | 258.82M | 12.94M | |||
| Long-Term Debt Issued | 302.82M | 1.46B | 496.27M | 1.23B | 495.13M | |
| Total Debt Issued | -144.72M | 302.82M | 1.46B | 1.36B | 1.49B | 508.07M |
| Short-Term Debt Repaid | -592.00K | -1.16B | ||||
| Long-Term Debt Repaid | -350.00M | -1.00B | -1.33B | -350.00M | -131.55M | |
| Total Debt Repaid | -510.11M | -350.59M | -2.16B | -1.33B | -350.00M | -131.55M |
| Net Debt Issued (Repaid) | -654.83M | -47.77M | -696.00M | 30.40M | 1.14B | 376.52M |
| Issuance of Common Stock | 10.68M | 3.45M | 5.35M | 17.01M | 17.34M | 46.98M |
| Repurchase of Common Stock | -126.67M | -161.67M | -265.14M | -770.20M | -1.05B | -911.55M |
| Other Financing Activities | -153.00K | -148.00K | -1.04M | 56.57M | -137.00K | 24.74M |
| Financing Cash Flow | -770.97M | -206.14M | -956.83M | -666.22M | 109.78M | -463.30M |
| Foreign Exchange Rate Adjustments | -31.84M | 236.14M | -108.39M | 74.23M | -64.27M | -46.98M |
| Net Cash Flow | 22.66M | 117.66M | -29.25M | 41.14M | -45.28M | -151.42M |
| Free Cash Flow | 825.46M | -37.20M | 1.04B | 622.16M | -111.91M | 335.93M |
| Free Cash Flow Margin | 2.30% | -0.12% | 3.72% | 1.88% | -0.30% | 0.97% |
| Free Cash Flow Per Share | 15.91 | -0.71 | 19.29 | 10.91 | -1.71 | 4.58 |
| Levered Free Cash Flow | 732.86M | -81.77M | 1.15B | 612.20M | -321.14M | 123.88M |
| Unlevered Free Cash Flow | 862.34M | 49.48M | 1.30B | 825.01M | -190.32M | 203.75M |
| Cash Income Tax Paid | 195.20M | 195.20M | 230.50M | 538.40M | 384.40M | 221.10M |
| Change in Working Capital | -10.20M | -521.98M | 628.27M | -336.34M | -1.68B | -939.56M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.61B | 5.68B | 5.95B | 6.62B | 6.43B | 9.35B |
| Enterprise Value | 12.53B | 8.67B | 9.05B | 10.56B | 9.95B | 11.59B |
| Last Close Price | 208.34 | 110.18 | 113.12 | 122.25 | 104.57 | 134.27 |
| PE Ratio | 13.32 | 9.94 | 15.17 | 7.33 | 4.51 | 8.44 |
| Forward PE | 9.43 | 9.68 | 10.72 | 8.98 | 5.86 | 8.43 |
| PS Ratio | 0.30 | 0.18 | 0.21 | 0.20 | 0.17 | 0.27 |
| PB Ratio | 1.52 | 0.85 | 1.02 | 1.13 | 1.15 | 1.75 |
| P/TBV Ratio | 2.20 | 1.29 | 1.65 | 1.82 | 1.91 | 3.11 |
| P/FCF Ratio | 12.85 | 5.73 | 10.64 | 27.83 | ||
| P/OCF Ratio | 11.33 | 88.61 | 5.26 | 9.38 | 22.31 | |
| PEG Ratio | 0.28 | 0.93 | 1.96 | 1.96 | 1.42 | 0.49 |
| EV/Sales Ratio | 0.35 | 0.28 | 0.32 | 0.32 | 0.27 | 0.34 |
| EV/EBITDA Ratio | 8.52 | 8.20 | 8.74 | 6.50 | 4.40 | 6.62 |
| EV/EBIT Ratio | 9.41 | 9.42 | 10.38 | 7.32 | 4.79 | 7.45 |
| EV/FCF Ratio | 15.18 | 8.72 | 16.97 | 34.49 | ||
| Debt / Equity Ratio | 0.31 | 0.50 | 0.58 | 0.70 | 0.72 | 0.55 |
| Debt / EBITDA Ratio | 1.37 | 2.87 | 2.99 | 2.38 | 1.73 | 1.58 |
| Debt / FCF Ratio | 2.63 | 3.27 | 6.58 | 8.68 | ||
| Net Debt / Equity Ratio | 0.27 | 0.46 | 0.55 | 0.66 | 0.69 | 0.50 |
| Net Debt / EBITDA Ratio | 1.31 | 2.88 | 3.10 | 2.38 | 1.72 | 1.54 |
| Net Debt / FCF Ratio | 2.33 | -81.76 | 3.09 | 6.23 | -34.78 | 8.02 |
| Asset Turnover | 1.15 | 1.21 | 1.28 | 1.52 | 1.80 | 1.89 |
| Inventory Turnover | 5.96 | 5.60 | 4.96 | 5.51 | 6.78 | 8.09 |
| Quick Ratio | 0.98 | 1.06 | 1.05 | 0.94 | 1.01 | 1.00 |
| Current Ratio | 1.22 | 1.36 | 1.46 | 1.39 | 1.48 | 1.40 |
| Return on Equity (ROE) | 12.04% | 9.12% | 6.72% | 15.83% | 26.21% | 21.17% |
| Return on Assets (ROA) | 2.66% | 2.26% | 2.50% | 4.15% | 6.28% | 5.32% |
| Return on Invested Capital (ROIC) | 11.53% | 7.79% | 7.46% | 11.71% | 18.02% | 15.62% |
| Return on Capital Employed (ROCE) | 13.80% | 9.00% | 9.60% | 16.90% | 22.10% | 19.00% |
| Earnings Yield | 7.51% | 10.06% | 6.59% | 13.65% | 22.18% | 11.85% |
| FCF Yield | 7.78% | -0.66% | 17.44% | 9.40% | -1.74% | 3.59% |
| Buyback Yield / Dilution | 1.71% | 2.87% | 5.68% | 12.86% | 10.81% | 6.68% |