AVNET, INC.
AVT · Industrials · $7.6B mkt cap · FY2026 filings · · No moat ·
Doesn't clear the bar
The five investor questions
2022–2026 (latest 5 aligned FYs; v3 window cap 5): revenue $24.3B to $27.6B, increasing; diluted EPS 6.94 to 4.01, decreasing.
Median gross margin 11.8% over 10y, stable.
Median ROIC 6.3%, above the 12% hurdle in 20% of years.
Net debt/EBITDA 3.8x, interest coverage 3x.
Owner earnings changed -5.5%/yr over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- $499M
- $67.51
- $109.37
- $92.94
- 38% above value if growth stopped today
What today’s price assumes: owner earnings growing ~7%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).
How to read this
We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Among the current top-score group, the median current price is 255% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.
Score records captured Oct 16, 2026.
Exactly which 50 companies?
FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE
Missing a usable price or zero-growth estimate: ANF.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
20 years of fundamentals
The business, in plain English
AVNET, INC. booked $27.6B of revenue in FY2026 in the Industrials sector and kept 10.4% of it as gross profit — a thin-margin business by that measure. After every other cost, 1.2% of each revenue dollar reached the bottom line.
Across the filed record, revenue grew from $18.0B (FY2008) to $27.6B (FY2026) — about 2.4% a year compounded over 18 years.
It earned 6.4% on invested capital in the latest filed year, FY2026. Across the full 19-year measurable filed record, median ROIC was 8.9%. Over the v3 recent window (10 measurable filed years), median ROIC was 6.3%. The Returns on Capital filter above scores it 13/100.
The balance sheet carried $3.2B of total debt in FY2026 against $338M of owner earnings — roughly 9.5 years of owner earnings to retire it all. Balance-Sheet Safety scores it 5/100.
Put together: Capital Allocation is the strongest of the five filters (40/100) and Balance-Sheet Safety the weakest (5/100), which is how AVT lands at 24/100 — a None moat.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Exact FY and FY-1 financing invested-capital inputs are required.
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Oct 16, 2026.
169 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (34 versus 3). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
| Insider | Shares owned after | Date | Filing detail | ||||
|---|---|---|---|---|---|---|---|
| KHAYKIN OLEGDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 356 | —Grant, award, or other acquisition (A) | — | 58,064 | Oct 1, 2026 | 1 filed lot
|
| MADDOCK ERNEST EDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 60 | $110.17 | $6,610 | 16,350 | Sep 23, 2026 | 1 filed lot
|
| KHAYKIN OLEGDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 212.7402 | $110.17 | $23,438 | 57,708 | Sep 23, 2026 | 1 filed lot
|
| Henkels VirginiaDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 29 | $100.17 | $2,905 | 7,717 | Sep 23, 2026 | 1 filed lot
|
| GASSEL HELMUTDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 29 | $100.17 | $2,905 | 7,717 | Sep 23, 2026 | 1 filed lot
|
| Freeman BrendaDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 133 | $100.17 | $13,323 | 36,326 | Sep 23, 2026 | 1 filed lot
|
| Adkins Rodney CDirector | Grant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units | 20 | $100.17 | $2,003 | 5,434 | Sep 23, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Gift (G)Table I · Disposed · Common Stock | 250 | —Gift (G) | — | 272,457 | Sep 17, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Other acquisition or disposition (J)Table I · Disposed · Common Stock | 63,176 | —Other acquisition or disposition (J) | — | 264,433 | Sep 17, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Other acquisition or disposition (J)Table I · Acquired · Common Stock | 63,176 | —Other acquisition or disposition (J) | — | 272,707 | Sep 17, 2026 | 1 filed lot
|
| Chan Leng JinSVP, CIO | Disposition to the issuer (D)Table I · Disposed · Common Stock | 13,000 | $93.71 | $1,218,230 | 46,023 | Sep 16, 2026 | 1 filed lot
|
| JACOBSON KENNETH AChief Financial Officer | Disposition to the issuer (D)Table I · Disposed · Common Stock | 6,844 | $92.75 | $634,781 | 50,001 | Sep 15, 2026 | 1 filed lot
|
| Chan Leng JinSVP, CIO | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 2,233 | —Grant, award, or other acquisition (A) | — | 59,023 | Sep 14, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 3,849 | —Grant, award, or other acquisition (A) | — | 106,280 | Sep 14, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 20,360 | —Grant, award, or other acquisition (A) | — | 327,609 | Sep 14, 2026 | 1 filed lot
|
| Arnold Ken E.SVP, Chief People Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 3,546 | —Grant, award, or other acquisition (A) | — | 89,469 | Sep 14, 2026 | 1 filed lot
|
| JACOBSON KENNETH AChief Financial Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 4,991 | —Grant, award, or other acquisition (A) | — | 65,635 | Sep 14, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 5,537 | —Grant, award, or other acquisition (A) | — | 104,749 | Aug 27, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 2,318 | $87.81 | $203,544 | 102,431 | Aug 27, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 29,811 | —Grant, award, or other acquisition (A) | — | 319,725 | Aug 27, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 12,476 | $87.81 | $1,095,518 | 307,249 | Aug 27, 2026 | 1 filed lot
|
| Chan Leng JinSVP, CIO | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 3,194 | —Grant, award, or other acquisition (A) | — | 58,127 | Aug 27, 2026 | 1 filed lot
|
| Chan Leng JinSVP, CIO | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 1,337 | $87.81 | $117,402 | 56,790 | Aug 27, 2026 | 1 filed lot
|
| Arnold Ken E.SVP, Chief People Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 5,111 | —Grant, award, or other acquisition (A) | — | 88,062 | Aug 27, 2026 | 1 filed lot
|
| Arnold Ken E.SVP, Chief People Officer | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 2,139 | $87.81 | $187,826 | 85,923 | Aug 27, 2026 | 1 filed lot
|
| JACOBSON KENNETH AChief Financial Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 6,388 | —Grant, award, or other acquisition (A) | — | 79,195 | Aug 27, 2026 | 1 filed lot
|
| JACOBSON KENNETH AChief Financial Officer | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 2,674 | $87.81 | $234,804 | 76,521 | Aug 27, 2026 | 1 filed lot
|
| Youngblood Jay DavidSVP, Chief Digital Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 7,090 | —Grant, award, or other acquisition (A) | — | 13,725 | Aug 20, 2026 | 1 filed lot
|
| Chan Leng JinSVP, CIO | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 14,157 | —Grant, award, or other acquisition (A) | — | 54,933 | Aug 20, 2026 | 1 filed lot
|
| Arnold Ken E.SVP, Chief People Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 21,452 | —Grant, award, or other acquisition (A) | — | 82,951 | Aug 20, 2026 | 1 filed lot
|
| JACOBSON KENNETH AChief Financial Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 30,488 | —Grant, award, or other acquisition (A) | — | 72,807 | Aug 20, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 120,991 | —Grant, award, or other acquisition (A) | — | 289,914 | Aug 20, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Grant, award, or other acquisition (A)Table I · Acquired · Common Stock | 22,538 | —Grant, award, or other acquisition (A) | — | 99,212 | Aug 20, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 32,052 | $39.62 | $1,269,900 | 108,726 | Aug 19, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Open-market or private sale (S)Table I · Disposed · Common Stock | 32,052 | $91.10 | $2,919,937 | 76,674 | Aug 19, 2026 | 1 filed lot
|
| McCoy Michael RyanSVP, General Counsel | Exercise or conversion of derivative security (M)Table II · Disposed · Employee Stock Option (Right to Buy) · 1 paired event | 32,052 | —Exercise or conversion of derivative security (M) | — | 0 | Aug 19, 2026 | 1 filed lot
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 51,900 | $35.7354 | $1,854,668 | See lot detail | Aug 12, 2026 | 2 filed lots
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 51,900 | $98.46 | $5,110,074 | See lot detail | Aug 12, 2026 | 2 filed lots
|
| GALLAGHER PHILIP RDirector, Chief Executive Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Employee Stock Option (Right to Buy) · 2 paired events | 51,900 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 12, 2026 | 2 filed lots
|
Source-event as of . Retrieved .
Track record
How AVNET, INC.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored AVT on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the reconstructed history shown, AVT did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Industrials context
#397 of 448 scored Industrials companies, ranked by Moat Score.
Nearest peers by Moat Score
- #395WHR WHIRLPOOL CORP /DE/23.7 out of 100, No moatNo moat
- #396ST Sensata Technologies Holding plc23.7 out of 100, No moatNo moat
- #398CHSCL CHS Inc.23.3 out of 100, No moatNo moat
- #399GNLN Greenlane Holdings, Inc.23.1 out of 100, No moatNo moat
Compare AVT with its nearest peers →All Industrials companies on the Index →
Common questions about AVT
- Does AVNET, INC. have an economic moat?
- Based on its FY2026 SEC filings, the Moat Index scores AVNET, INC. (AVT) 23.6 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 37, pricing power 24, returns on capital 13, balance-sheet safety 5, capital allocation 40.
- Is AVT trading below the conservative owner-earnings estimate?
- The value if growth stopped today — a zero-growth baseline — is $67.51 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $92.94, that is 38% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
- How has AVT's Moat Score changed over time?
- The record logs 29 readings since Jul 17, 2026; the latest reads 23.6 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.