安富利 2025年度报告

Form10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 27, 2026or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo◻ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section 15(d) of the Act. Yes◻No Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days. YesNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was required to submit such files). YesNo◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growthcompany” in Rule12b-2 of the Exchange Act. Large Accelerated FilerAccelerated Filer◻Non-accelerated Filer◻Smaller Reporting Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements☐ Indicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to Section 240.10D-1(b).◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☑ The aggregate market value (approximate)of the registrant’s common equity held by non-affiliates based on the closing price of a share of theregistrant’s common stock for Nasdaq Global Select Market composite transactions on December26, 2025 (the last business day of the registrant’s mostrecently completed second fiscal quarter) was $3,961,019,216. As of August 7, 2026, the total number of shares outstanding of the registrant’s Common Stock was 82,072,979 shares, net of treasury shares. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement (to be filed pursuant to Reg. 14A) relating to the Annual Meeting of Shareholders anticipated to beheld on November 20, 2026, are incorporated herein by reference in PartIII of this Report. TABLE OF CONTENTS PART I Item 1. Business3Item 1A. Risk Factors8Item 1B. Unresolved Staff Comments17Item 1C. Cybersecurity17Item 2. Properties19Item 3. Legal Proceedings19Item 4. Mine Safety Disclosures19 PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities20Item 6. [Reserved]21Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 7A. Quantitative and Qualitative Disclosures About Market Risk32Item 8. Financial Statements and Supplementary Data34Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure75Item 9A. Controls and Procedures75Item 9B. Other Information75Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections76PART IIIItem 10. Directors, Executive Officers and Corporate Governance76Item 11. Executive Compensation76Item 12. Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters76Item 13. Certain Relationships and Related Transactions, and Director Independence77Item 14. Principal Accounting Fees and Services77PART IVItem 15. Exhibits and Financial Statement Schedules77Item 16. Form 10-K Summary81Signature Page83 PART I Item1. Business Avnet, Inc. and its consolidated subsidiaries (collectively, the “Company” or “Avnet”), is a leadingglobal electronic component technolo