Demand and volumepositive · 5 filings
“For Q2 2026, our revenue exceeded the high end of our guidance range due to higher than anticipated customer demand and strong operational execution.”10-Q · Jul 27, 2026 ↗
Celestica Inc.
CLS
Market read
Celestica Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
What changed
- Revenue increased 52.8% versus the comparable filing period.
Company-2.5% todayVolume comparison unavailable
Market group0 of 1 activeElectronics Manufacturing Services · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Communications/data center networking revenue rose materially year-over-year, driven by hyperscaler switch programs and strong networking demand.
Invalidation: The isolated read changes if CLS's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 52.8% versus the comparable filing period.
- Operating margin improved 1.9 percentage points.
- Net income increased 146.3% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Communications/data center networking revenue rose materially year-over-year, driven by hyperscaler switch programs and strong networking demand.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods4
Price observations327
Usable filing statements186
Verified relationships5
Evidence supporting the case
- Latest annual revenue changed +28.5% year over year.
- Operating margin changed +2.2 percentage points in the latest annual period.
- Net margin changed +2.3 percentage points in the latest annual period.
- Demand and volume has repeated favorable evidence across 5 filings.
- Data center and AI demand has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Foreign exchange has repeated adverse evidence across 5 filings.
Questions before a position
- EV/sales is 163% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
325.236m+22.4%12m+33.2%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-12-31$7.3B—$1.46—
2023-12-31$8.0B+9.8%$2.03-2.7%
2024-12-31$9.6B+21.2%$3.61-1.3%
2025-12-31$12.4B+28.5%$7.16-2.1%
What management says matters
Persistent and emerging business drivers
Foreign exchangemixed · 5 filings
“The fair value of the outstanding contracts at June 30, 2026 was a net unrealized loss of $26.3 million ( December 31, 2025 — net unrealized gain of $13.2 million), resulting from fluctuations in foreign exchange rates between the contract execution and the p…”10-Q · Jul 27, 2026 ↗
Data center and AI demandpositive · 4 filings
“Communications end market revenue increased $1,012.0 million (62%) in Q2 2026 compared to Q2 2025 and increased $1,994.9 million (65%) in 1H 2026 compared to 1H 2025, driven by data center networking demand, including the continued growth of our switch progra…”10-Q · Jul 27, 2026 ↗
Restructuring and cost reductionsmixed · 4 filings
“Net earnings for 1H 2026 of $581.1 million increased $283.9 million compared to 1H 2025, primarily due to $369.8 million in higher gross profit and $19.9 million in lower restructuring and other charges (recoveries), partially offset by $43.0 million in highe…”10-Q · Jul 27, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.0× · EV/sales 3.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
325.23-2.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CLS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-04-27 against the comparable filing from 2025-04-24.
OperationsconstructiveEvidence score +4
liquidityconstructiveEvidence score +1
valuationmixed
What improved
- Revenue increased 52.8% versus the comparable filing period.
- Operating margin improved 1.9 percentage points.
- Net income increased 146.3% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“A reconciliation of non-GAAP free cash flow to cash provided by operating activities measured under GAAP is set forth below (in millions): Three months ended March 31 2026 2025 GAAP cash provided by operations $ 356.3 $ 130.3 Purchase of property, plant and equipment, net of sales proceeds (218.4) (36.7) Non-GAAP free cash flow $ 137.9 $ 93.6 Our non-GAAP free cash flow of $137.9 million for Q1 2026 increased $44.3 million compared to Q1 2025, primarily due to $226.0 million in higher cash generated from operations (as described above), partially offset by $181.7 million in higher purchases of property, plant and equipment (see " cash used in investing activities " below), net of sales proc...”
“Gross profit: The following table shows gross profit and gross margin (gross profit as a percentage of total revenue) for the periods indicated: Three months ended March 31 2026 2025 Gross profit (in millions) $ 437.2 $ 273.9 Gross margin 10.8 % 10.3 % Gross profit increased by 60% or $163.3 million to $437.2 million in Q1 2026 compared to Q1 2025, primarily driven by our strong revenue growth.”
“Gross profit for Q1 2026 increased sequentially by $4.1 million (1%), primarily driven by the higher revenue in Q1 2026, largely offset by the unfavorable changes in TRS FVAs recorded in cost of sales ($7.5 million loss in Q1 2026 compared to $27.7 million gain in Q4 2025) driven by the fluctuation in our Common Share price.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind CLS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TUFBYFiling-linked namepartnerOct 27, 2025 ▾
“In Q4 2024, the Thailand tax authorities issued an assessment letter seeking to impose additional value-added taxes and surcharges in the aggregate amount of approximately 403 million Thai baht (approximately $12 million at Q3 2025 period-end exchange rates)…”
Depended on by
SNXTD SYNNEX CorporationcompetitorJan 27, 2026 ▾
“We also compete against companies who participate within the hyperscale computing infrastructure market including Jabil Inc., Celestica, Flex Ltd., Quanta Computer Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CLS is currently a Leader in the organic co-movement group Electronics Manufacturing Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CLS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.