Celestica
We are a corporation domiciled in the Province of Ontario, Canada and operate under the Business Corporations Act (Ontario) (OBCA).
10-K, Feb 27, 2026
Source and method
In the company’s words: first descriptive sentence of 10-K Item 1, verbatim (extractive). Item 1 · Business · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Business
How does Celestica make money?
CCS is 74.2% of revenue.
Source and method
Revenue by segments, FY2025.
annual report FY2025 · 0001030894-26-000011 · shares derived = part / total revenue
Calculated: share = part revenue ÷ total revenue ($12.4B).
- CCS: $9.2B · 74.2%
- ATS: $3.2B · 25.8%
What is left of every $100?
Of every $100 in revenue, $7 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $12.4B
- Gross profit: $1.5B
- Operating income: $1.0B
- Net income: $832M
- Free cash flow: $458M
Where do customers sit?
No revenue-by-region breakdown in the latest annual report's XBRL data.
In the company’s words ›
“Our telephone number is (416) 448-5800, and our internet address is www.celestica.com.”
“We operate a network of sites and design centers strategically located in North America, Asia, and Europe.”
“Prior to our incorporation, we were an IBM manufacturing unit that provided manufacturing services to IBM for more than 75 years.”
Item 1 · Business · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Where did the growth actually come from?
CCS drove 96% of Celestica’s growth.
Source & method
- Counted
- Segment revenue as filed, first and last fiscal year of the range.
- Formulas
- Change = segment revenue (to) − segment revenue (from); share of growth = change / total revenue change (calculated). Not allocated = total revenue − sum of reported segments (calculated, never filled in).
- Guards
- Segment break: if the company redrew its segments inside the range, no share of growth is claimed. No segment break reported for this company. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Thesis
Why do people invest?
2 reasons in the company’s own words.
CCS revenue +42%
“CCS segment revenue for 2025 increased 42% to $9.19 billion compared to $6.49 billion in 2024.”
Item 7 · MD&A · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Number check (CCS revenue): stated $9.2B matches the stored value ($9.2B, ±10%)
CCS revenue: $9.2B · 74.2% of revenue · FY2025 · Revenue charts
Position (in the company’s words)
“We have established and maintain strong relationships with a diverse mix of cloud-based and other service providers (primarily hyperscalers), leading OEMs and other companies across our end markets.”
Item 1 · Business · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Source and method
Verbatim · selection. Sentences selected by rules from the 10-K and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
2 of 2 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue grew 28% to $12.4B.
Revenue grew 62% YoY to $4.7B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue grew 81.8%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
8.4% operating margin, up from 6.2%.
12.1% gross margin, up from 10.7%.
Operating income grew 74% to $1.0B.
Net income grew 95% to $832M.
R&D grew 52% to $118M.
SG&A fell 11% to $260M.
EPS diluted grew 98% to $7.16.
9.8% operating margin, up from 9.4%.
12.3% gross margin, down from 12.8%.
Operating income grew 68% YoY to $458M.
Net income grew 75% YoY to $369M.
R&D grew 36% YoY to $46.3M.
SG&A grew 49% YoY to $58.1M.
EPS diluted grew 74% YoY to $3.17.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps $4 of every $100 as free cash.
Operating cash flow grew 39% to $660M.
Capex grew 18% to $201M.
Buybacks grew 0.9% to $153M.
Stock-based compensation grew 22% to $69.8M.
Free cash flow grew 23% YoY to $147M.
Operating cash flow grew 170% YoY to $411M.
Capex grew 712% YoY to $264M.
Buybacks: $0 in FY2026 Q2.
Stock-based compensation grew 27% YoY to $19.3M.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
$596M cash vs $776M debt.
Total debt fell 2.5% to $776M.
Interest expense grew 1.0% to $52.6M.
Total assets grew 20% to $7.2B.
Equity grew 17% to $2.2B.
Cash grew 71% YoY to $536M.
Total debt fell 7.4% YoY to $810M.
Interest expense: $21.2M.
Total assets grew 57% YoY to $9.8B.
Equity grew 41% YoY to $2.5B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
- Note
- Prior year restated in a later filing.
Dependencies
How much revenue hangs on one customer?
One Celestica customer: $4.0B.
Source & method
- Counted
- Largest customers as disclosed in the annual report (share of revenue).
- Formulas
- One customer in dollars = disclosed share × total revenue of the same fiscal year (calculated), only where the filing text confirms the share is of total revenue.
- Guards
- Anonymous customers stay anonymous. Segment-based shares are never multiplied by total revenue. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Customers, suppliers, stakes and mentions ›
Only what filings state. Anonymous customers stay anonymous.
Largest customers (Celestica annual report)
“In 2025, three customers (all in our CCS segment) individually represented 10% or more of total revenue (32%, 14% and 12%).”
10-K · 0001030894-26-000011 · filed Feb 27, 2026 · basis: filing text, verified verbatim
Suppliers named by Celestica
No supplier among the covered companies is named in the filings.
Celestica holds stakes in
No stake in a covered company found in SEC filings.
Others name Celestica
2 other mentions (e.g. Flex, Jabil) in covered companies’ filings. Mentions, not confirmed relationships.
Risks
What could go wrong?
4 of 66 risk factors, one per theme.
Customer concentration
“We depend (and expect to continue to depend) upon a small number of customers for a substantial portion of our revenue.”
Item 1A · Risk Factors · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Supply chain and manufacturing
“Inherent challenges in managing changes in customer demand has and may continue to impact our planning, supply chain execution and manufacturing, and may adversely affect our operating performance and results.”
Item 1A · Risk Factors · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Security, defects and outages
“Our operations and our customer relationships may be adversely and materially affected by disruptions to our IT systems, including disruptions from cybersecurity breaches of our IT infrastructure.”
Item 1A · Risk Factors · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Key people
“If we are unable to recruit or retain highly skilled talent in key jurisdictions and within desired timeframes, our business could be adversely affected.”
Item 1A · Risk Factors · 10-K · 0001030894-26-000011 · filed Feb 27, 2026
Source and method
Short verbatim quotes from the risk factors in Item 1A, one per theme (a partial selection). Full list: 10-K.
Who’s invested
Who owns more than 5%?
Fmr LLC holds 6.4%.
Fmr LLC6.4%
13G/A · as of Dec 31, 2025 · filed Feb 5, 2026
BlackRock, Inc.5.5%
13G · as of Dec 31, 2025 · filed Jan 21, 2026
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only.
7 filings reporting a stake below 5% (e.g. after selling) not listed.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
Fmr LLC10.6%
8.4M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Jpmorgan Chase & Co4.9%
3.9M shares · 13F filed Aug 12, 2026 · share of 13F-reported
Vanguard Capital Management LLC4.0%
3.2M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Franklin Resources Inc3.5%
2.8M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Jane Street Group, LLC2.6%
2.1M shares · 13F filed Aug 14, 2026 · share of 13F-reported
875 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding.
Insiders, last 12 months (Form 4, open market)
4 purchases · 166 sales · $254M sold
Grants, gifts and tax withholding counted separately · window Oct 14, 2025 – Oct 14, 2026
All metrics
All metrics · 32 SEC metrics, FY2016–FY2025
Income statement 10
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| D&A | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Gross profit | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Income taxes | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Interest expense | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Net income | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Operating income | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Research and development | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Revenue | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| SG&A | not reported | not reported | not reported | not reported | not reported | not reported | ||||
Balance sheet 9
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Current liabilities | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Current portion of long-term debt | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Equity | not reported | not reported | not reported | not reported | not reported | |||||
| Equity incl. NCI | not reported | not reported | not reported | not reported | not reported | |||||
| Long-term debt | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Total assets | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Total debt calc. | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Total liabilities & equity | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
Cash flow 6
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Buybacks | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Capex | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Free cash flow calc. | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Interest paid | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Operating cash flow | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Stock-based compensation | not reported | not reported | not reported | not reported | not reported | not reported | ||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| EPS diluted | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Wtd. shares basic | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Wtd. shares diluted | not reported | not reported | not reported | not reported | not reported | not reported | ||||
Other 3
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Other income (incl. interest) calc. | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Pretax income | not reported | not reported | not reported | not reported | not reported | not reported | ||||
| Total liabilities | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
Method
extractive: verbatim sentences selected by rules from Item 1, 1A and 7; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values