Celestica Inc (CLS) is overvalued and Flex Ltd (FLEX) is overvalued.
Both trade above our estimate of their intrinsic value. CLS is the closer of the two: -93%, against -137% for FLEX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 13.5% (average of 3 methods) values the shares at $184.33; the price of $356.09 is 93% above that value, and 64% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
Discounting its cash flows at 11.8% (average of 3 methods) values the shares at $48.24; the price of $114.45 is 137% above that value, and 67% of that value comes from beyond year five.
Leak Score 56/100 on 10 of 12 signals
| Metric | CLS | FLEX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $356.09 | $114.45 |
| Intrinsic value | $184.33 | $48.24 |
| Margin of safety | -93% | -137% |
| Leak Score | 59/100 (3/12) | 56/100 (10/12) |
| Market cap | $44.9B | $42.3B |
| Revenue growth, 5 years | 16.6% | 3.0% |
| Operating margin | 8.4% | 5.6% |
| Net margin | 7.2% | 3.3% |
| Return on equity | 52.7% | 18.4% |
| Debt to equity | 0.40 | 1.08 |
| P/E | 37.0x | 44.2x |
| Forward P/E | 18.3x | 16.1x |
| P/B | 16.5x | 7.7x |