Segment information

9 Months Ended

Mar. 28, 2026

Segment information

Segment information

12. Segment information

Avnet has two primary operating groups — Electronic Components (“EC”) and Farnell (“Farnell”). Both operating groups have operations in each of the three major economic regions of the world: (i) the Americas, (ii) EMEA, and (iii) Asia. Each operating group has its own management team, who manage various functions within each operating group. Each operating group also has distinct financial reporting to the executive level, which informs operating decisions, strategic planning, and resource allocation for the Company as a whole.

Avnet’s EC operating group primarily supports high and medium-volume customers. It markets, sells, and distributes electronic components from many of the world’s leading electronic component manufacturers, including semiconductors, IP&E components (interconnect, passive and electromechanical components), and other integrated and embedded components. EC serves a variety of markets ranging from industrial to automotive to defense and aerospace. It offers an array of customer support options throughout the entire product lifecycle, including both turnkey and customized design, supply chain, programming, and logistics services.

Avnet’s Farnell operating group primarily supports lower-volume customers that need electronic components quickly to develop, prototype, and test their products. It distributes a comprehensive portfolio of kits, tools, electronic components, industrial automation components, and test and measurement products to both engineers and entrepreneurs, primarily through an e-commerce channel. Farnell also distributes new product introductions for its suppliers across their various product categories.

The Company has identified its Chief Executive Officer (“CEO”) as the chief operating decision maker (“CODM”). The CODM evaluates the performance of both reportable segments based on operating income. Sales, cost of goods sold, and operating expenses are also monitored closely. This information is used to monitor operating margins, measure segment profitability, allocate resources, and make budgeting and forecasting decisions about the reportable segments. The CODM also uses these measures to monitor trends in year over year performance comparisons, sequential quarter performance comparisons, and to compare actual results to forecasts.

	Third Quarters Ended				Nine Months Ended
	March 28,		March 29,		March 28,		March 29,
	2026		2025		2026		2025
	(Thousands)
Sales
Electronic Components	$	6,665,122	$	4,948,759	$	18,056,646	$	15,523,632
Farnell		454,657		366,664		1,280,660		1,059,327
Avnet Sales	$	7,119,779	$	5,315,423	$	19,337,306	$	16,582,959
Significant Segment Expenses and Operating Income:
Electronic Components
Cost of goods sold	$	6,049,896	$	4,459,531	$	16,385,593	$	14,009,571
Selling, general and administrative expenses		379,992		317,049		1,089,743		962,892
Operating income	$	235,234	$	172,179	$	581,310	$	551,169
Farnell
Cost of goods sold	$	330,822	$	268,039	$	934,849	$	782,117
Selling, general and administrative expenses		100,046		87,651		284,925		260,900
Operating income	$	23,789	$	10,974	$	60,886	$	16,310
Total reportable segment operating income	$	259,023	$	183,153	$	642,196	$	567,479
Corporate
Corporate selling, general and administrative expenses	$	(38,387)	$	(30,428)	$	(99,142)	$	(86,323)
Restructuring, integration, and other expenses		(14,737)		(9,110)		(48,199)		(39,255)
Amortization of acquired intangible assets		(364)		(364)		(1,092)		(1,099)
Avnet operating income	$	205,535	$	143,251	$	493,763	$	440,802
Capital expenditures:
Electronic Components	$	13,006	$	21,852	$	43,830	$	72,711
Farnell		3,864		4,882		12,968		15,148
Corporate		3		5		16		15
	$	16,873	$	26,739	$	56,814	$	87,874
Depreciation & amortization expense:
Electronic Components	$	13,780	$	12,301	$	39,410	$	39,150
Farnell		4,962		4,082		14,783		14,125
Corporate		11		12		36		32
	$	18,753	$	16,395	$	54,229	$	53,307
Sales, by geographic area:
Americas	$	1,614,939	$	1,274,228	$	4,420,130	$	3,972,909
EMEA		2,046,310		1,558,956		5,426,152		4,809,931
Asia		3,458,530		2,482,239		9,491,024		7,800,119
Avnet Sales	$	7,119,779	$	5,315,423	$	19,337,306	$	16,582,959

Assets by segment as follows:

	March 28,		June 28,
	2026		2025
	(Thousands)
Assets:
Electronic Components	$	11,393,457	$	9,984,932
Farnell		1,747,768		1,742,437
Corporate		348,069		391,184
	$	13,489,294	$	12,118,553