Celestica Inc. (CLS)
合理估值基本面
70
价格
$371.96
市值
$47.11B
第一部分 · 这家公司值多少
概览
Celestica builds electronic hardware that other companies designed but do not want to manufacture themselves: servers and networking gear for cloud computing customers, plus aerospace, industrial and healthcare electronics. It owns the factories, buys the components, assembles and tests the finished product, then ships it under the customer's brand. Its growth in recent years has come almost entirely from hyperscale cloud and networking hardware for the small number of companies building today's AI data centres.
盈利方式
Celestica is paid for manufacturing services: it earns revenue on the hardware it ships, with margins coming from efficient production and component sourcing rather than from owning any proprietary technology in the product itself. Because it depends on a handful of very large customers for design wins and production volume, results move sharply with those customers' capital-spending decisions rather than with broad consumer demand.
分部营收
Servers, storage and networking hardware built mainly for hyperscale cloud providers and communications equipment makers.
Electronics manufacturing for aerospace and defence, industrial equipment, healthtech and capital equipment customers.
护城河
未发现护城河 · 无Contract electronics manufacturing is a competitive, price-driven industry with several large players capable of building similar hardware; Celestica itself names aggressive pricing dynamics and numerous competitors as an ongoing pressure. Its edge comes from operational execution and deep relationships with a few large customers rather than from a durable structural advantage a rival cannot copy.
需求驱动因素
周期性Orders follow the capital-spending cycles of a small number of very large technology and networking customers, which can ramp production up or down quickly as their own end-market demand shifts. A slowdown in cloud data-centre build-out or a program cancellation at a top customer would show up in Celestica's results almost immediately.
主要风险
- Customer program cancellation — Customers may change or cancel programs at any time based on shifting end-market demand or their own products' success, and Celestica has little control over that decision.
- Customer concentration — A significant reduction in, or the loss of, revenue from one of the largest customers could have a material adverse effect on results, financial position and cash flows.
- Intense industry competition — The electronics manufacturing services and ODM industry has numerous competitors and aggressive pricing dynamics, which pressures margins and can shift business away from Celestica on short notice.
- Dependence on customers' own success — Celestica's results are tied to how well its customers' end products sell and to rapid technology change in their markets, factors entirely outside its control.
客户集中度
主要客户占营收的58%
In 2025 three customers, all within the Connectivity and Cloud Solutions segment, individually accounted for 10% or more of revenue — 32%, 14% and 12% respectively — and the ten largest customers together made up 79% of revenue.
看多理由
Buyers argue that Celestica has become a critical, hard-to-replace manufacturing partner for the handful of companies building AI data-centre infrastructure, and that CCS segment revenue growth of 42% in 2025 shows real share gains rather than a one-off spike.
看空理由
Sellers fear that with three customers alone worth 58% of revenue, a single program loss or a pause in one hyperscaler's data-centre spending could sharply cut results, and that the underlying manufacturing business remains a low-margin, highly competitive trade with little pricing power of its own.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月18日 with claude-haiku-4-5 — shared with all users
Jabil bids for the same electronics manufacturing and design contracts as Celestica across cloud/data-center hardware, healthcare, industrial and capital equipment customers.
Flex is a comparable global contract manufacturer that has pushed hard into data-center power, cooling and server assembly, the same hyperscaler spending Celestica's CCS segment depends on.
Sanmina competes for the same high-complexity, lower-volume programs in communications, optical, industrial, medical and defense electronics that make up much of Celestica's mix.
Plexus pursues the same low-volume, highly regulated design-and-build customers in healthcare, industrial and aerospace/defense that Celestica courts with its ATS business.
Foxconn is the largest contract manufacturer of AI servers and networking hardware and competes head-on with Celestica for hyperscaler and cloud-provider orders.
Benchmark targets the same engineering-led manufacturing work in aerospace and defense, medical, semiconductor capital equipment and industrial markets served by Celestica's ATS segment.
资产负债表与流动性
营收
$15.59B
最近12个月（截至2026/6/30）
净利润
$1.12B
最近12个月（截至2026/6/30）
自由现金流
$458M
股东权益合计
$2.22B
负债合计
$5.00B
流动比率
1.23
利息覆盖率
22.20
债务/EBITDA
0.81
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$346.15
当前价格
$371.96
安全边际
-7.5%
公允价值区间
$224.99 - $467.30
所用估值方法之间的离散区间，并非经过统计校准的置信区间。
估算方法
估值指标
市盈率（P/E）
37.65
ROE
37.6%
市净率（P/B）
16.76
P/FCF
80.12
毛利率
12.0%
ROIC
30.0%
盈利能力雷达图
价值创造（经济护城河）
ROIC
30.0%
WACC
11.9%
ROIC − WACC
+18.1 pp
ROIC 超过资本成本：公司正在为股东创造价值。
基本面分析标准
通过（21）
- EPS shows upward trend
- EPS CAGR 69.90%
- Price CAGR 40.77%
- ROIC 30.0%
- Debt/Equity ratio
- Operating Margin 8.8%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 50.6%
- Revenue Growth 5Y 16.6%
- Analyst Consensus 92% Buy
- Earnings Surprise avg 6.3%
- PEG Ratio 0.57
- Earnings Quality (OCF/NI) 1.02
- Share Dilution -1.9%
- Net Margin Trend 7.2% vs 5.1%
- Piotroski F-Score 6/9
未通过（6）
- Gross Margin 12.0%
- P/FCF 80.12
- P/B Ratio 16.76
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
不可用（1）
- Dividend Payout NaN%
Piotroski F-评分
信号混杂：部分领域需关注
盈利质量
高质量：盈利有现金流支撑
股权稀释
正在回购股份，对股东友好
机构持股
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Robert Andrew Mionis | CEO & Chair of the Board | 62 |
| Mr. Yann Louis Etienvre | Chief Operations Officer | 51 |
| Mr. Jason Phillips | Advisor | 50 |
| Mr. Todd C. Cooper | President of Advanced Technology Solutions | 55 |
| Mr. Matthew Pallotta C.A., CPA, M.B.A. | Head of Investor Relations | - |
| Mr. Douglas M. Parker | Chief Legal Officer & Corporate Secretary | 54 |
| Mr. Craig Oberg | Vice President of Investor Relations & Corporate Development | - |
| Ms. Leila Wong C.M.A., CPA | Chief Human Resources Officer | - |
| Mr. Gavin Cato | Head & CTO of Hardware Platform Solutions | 57 |
| Mr. Steven Dorwart | President of Connectivity & Cloud Solutions | - |
审计风险
1
董事会风险
3
薪酬风险
2
股东权利风险
5
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有：它帮助你在基本面说服你之后，选择何时买入。包含：技术分析、潜力、历史回撤、Gamma 敞口。
损益历史
via SEC EDGAR
Latest News
Recent headlines for CLS, sourced from Markets Gazette.
- 1d agoPOSITIVEWall Street may be sleeping on this networking stock tied to Google and OpenAI
Bernstein highlights Celestica Inc. as a key beneficiary of a critical bottleneck in data center networking. The firm suggests Wall Street is underestimating the stock's potential, driven by its ties to major AI players like Google and OpenAI. This positioning indicates strong demand for Celestica's advanced networking solutions, crucial for the expanding AI infrastructure. Investors should monitor Celestica's capacity expansion and partnerships as indicators of continued growth in this high-demand sector.
- 8/25/2026NEGATIVEIl titolo Celestica è sceso a un supporto cruciale: cosa succederà alle azioni?
Celestica Inc. (CLS) has entered a bear market, plummeting nearly 40% from its year-to-date high to C$407. This sharp decline follows the company's earnings report and a significant dilutive operation. Technical analysis indicates a strong downtrend, with the stock falling below the crucial $450 support level. The Relative Strength Index (RSI) has dropped from 76 to 40, signaling further potential downside. Investors are closely watching AI-related growth prospects, but the immediate outlook remains bearish due to these factors.
- 8/5/2026POSITIVECelestica Joins Data Center Funding Rush With $3 Billion Deal
Celestica Inc. is set to raise $3 billion through a new share offering, a strategic move to capitalize on the burgeoning demand for data center infrastructure driven by the artificial intelligence boom. This significant capital infusion positions Celestica to expand its capacity and services, catering to the increasing needs of AI development. The move signals strong growth prospects and investor confidence in the company's ability to leverage the AI revolution, potentially leading to increased market share and profitability. Investors may see this as a positive development, indicating proactive management and a clear path to capitalize on a high-growth sector.
- 8/5/2026NEUTRALCelestica’s $3 Billion Deal Joins Data Center Funding Rush
Celestica Inc. is planning to raise $3 billion through a new share offering, participating in the significant capital influx directed towards data center expansion. This move is driven by the escalating demand for infrastructure to support the burgeoning artificial intelligence sector. While the capital raise itself is a neutral event, the underlying driver of AI-driven data center growth suggests potential future demand for Celestica's services. Investors will monitor how effectively Celestica deploys this capital and the competitive landscape for data center solutions.
via Markets Gazette