Plexus Corp. PLXS

Competitive advantage analysis · technology

Corporate Default
Overall moat score
63/100
Moderate

Ranked against 51 peers in Electronic Components

About Plexus Corp.

Plexus Corp. provides electronic manufacturing services in the United States, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services. It serves the aerospace/defense, healthcare/life sciences, and industrial/commercial sectors. Plexus Corp. was founded in 1979 and is headquartered in Neenah, Wisconsin. Full PLXS analysis →

Key strengths

  • ROIC Sustainably Above Peers ROIC at 75.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.94), demonstrating pricing resilience across cycles.

Key risks

  • Scale Without Profitability Despite scale, profitability lags peers (score 0.39), suggesting limited competitive advantage.
  • Liquidity Concerns Liquidity is concerning (score 0.27), raising questions about short-term obligations.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
61
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where PLXS ranks in Electronic Components

Plexus Corp. ranks #15 of 52 scored companies in Electronic Components by moat score — the top 29%. The widest moat in the group is Universal Display Corporation (OLED) at 82/100.

# Company Moat score Rating
11 Corning Incorporated GLW 65/100 Moderate
12 Celestica, Inc. CLS 65/100 Moderate
13 Allient Inc. ALNT 64/100 Moderate
14 Daktronics, Inc. DAKT 64/100 Moderate
15 Plexus Corp. PLXS 63/100 Moderate
16 Flex Ltd. FLEX 62/100 Moderate
17 TTM Technologies, Inc. TTMI 61/100 Moderate
18 Sanmina Corporation SANM 61/100 Moderate
19 Knowles Corporation KN 60/100 Moderate

See every General Corporate company ranked by moat score →

How PLXS scores on the Corporate Default defenses

Pricing Power

Score 61 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 75 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 73 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 76 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 53 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 40 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding PLXS's moat

What is Plexus Corp.'s moat score?

Plexus Corp. (PLXS) scores 63 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #15 of 52 scored companies in Electronic Components, the top 29%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 51 companies in Electronic Components. Its strongest defense is Capital Efficiency (76/100) and its weakest is Scale & Market Position (40/100).

How does Plexus Corp. compare with other Electronic Components companies?

Plexus Corp. ranks #15 of 52 scored companies in Electronic Components by moat score. The widest moat in Electronic Components is Universal Display Corporation (OLED) at 82/100. The companies ranked closest are Daktronics, Inc. (DAKT) at 64 just above it and Flex Ltd. (FLEX) at 62 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 51 companies in Electronic Components. The defenses are then weighted to produce the overall score out of 100.

Why is Plexus Corp. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Plexus Corp.?

The Corporate Default template measures 6 defenses, and PLXS scores: Pricing Power (61), Cost Advantage (75), Customer Stickiness (73), Capital Efficiency (76), Resilience (53), Scale & Market Position (40). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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