Avnet Inc

Analysis

Business Description

Avnet Inc (Avnet) is a provider of technology solutions that support all stages of the electronic product lifecycle. It distributes electronic parts, enterprise computing and storage products, and embedded subsystems. The company serves original equipment manufacturers (OEM), electronic manufacturing services (EMS), original design manufacturers (ODMs), and value-added resellers (VARs). It also offers an array of design chain support and supply chain solutions. The company classifies its business operations into two reportable segments: Electronic Components (EC) and Farnell. The company works with over 1,400 suppliers to serve 2.1 million customers in over 140 countries. It operates owned and leased facilities in the US, Belgium, Germany, the UK, and China.

Business Segments
Performance

Reported revenue of US$640.6 million for FY2021, which grew 12.0% YoY, and recorded a CAGR of 9.6% during 2019-21. The product category accounted for 13.3% of the company's revenue in FY2021.

Inventore veritatis
Overview

Markets and sells semiconductors, embedded products, and interconnect, passive and electro-mechanical devices to electronic component manufacturers, and original equipment manufacturers. Offers hardware and software, data and analytics, design chain, and supply chain solutions to various business enterprises.

Performance

Reported revenue of US$18,030.5 million for FY2021, which grew 10.3% YoY, and recorded negative growth of 0.1% during 2019-21. The segment accounted for 92.3% of the company's revenue in FY2021. Growth in revenue was due to increase in market demand. It reported operating income of US$454.8 million in FY2021, which grew 30.3% YoY.

Overview

Distributes various electronic components to design engineers, maintenance and test engineers. Major product portfolio includes electronic components, industrial automation components, kits and tools.

Performance

Reported revenue of US$1,504.2 million for FY2021, which grew 16.2% YoY, and recorded a CAGR of 1.6% during 2019-21. The segment accounted for 7.7% of the company's revenue in FY2021. Growth in revenue was due to increase in market demand in all three regions. It reported operating income of US$86.9 million in FY2021, which grew 15.1% YoY.

Performance

Reported revenue of US$3,649.0 million for FY2021, which grew 16.0% YoY, and recorded a CAGR of 1.9% during 2019-21. The product category accounted for 75.8% of the company's revenue in FY2021.

Performance

Reported revenue of US$522.3 million for FY2021, which grew 9.7% YoY, and recorded a CAGR of 2.6% during 2019-21. The product category accounted for 10.9% of the company's revenue in FY2021.

Performance

Reported revenue of US$14,722.8 million for FY2021, which grew 9.5% YoY, and recorded negative growth of 0.8% during 2019-21. The product category accounted for 75.4% of the company's revenue in FY2021.

Geographical Segments
Performance

Reported revenue of US$4,662.5 million for FY2021, which decreased 2% YoY, and recorded negative growth of 4.7% during 2019-21. Americas accounted for 23.9% of the company's revenue in FY2021.

Inventore veritatis
Performance

Reported revenue of US$8,722.3 million for FY2021, which grew 22.4% YoY, and recorded a CAGR of 7.0% during 2019-21. Asia Pacific accounted for 44.7% of the company's revenue in FY2021.

Performance

Reported revenue of US$6,149.9 million for FY2021, which grew 6.9% YoY, and recorded negative growth of 4.6% during 2019-21. EMEA accounted for 31.5% of the company's revenue in FY2021.