$FN is building enough capacity to more than double the company. Fabrinet exited Q4 at $1.316B in revenue, up 45% YoY. Its current run rate is roughly $5.3B, while management now sees a path to $12.5B-$14B of annual revenue capacity over the coming years. Data-center revenue reached $669M, up 69%, and now accounts for 51% of the business. FN manufactures optical equipment designed by its customers, so higher volumes and greater complexity can both increase its opportunity. Q4 FCF was negative $37M as capex hit $92M and inventory rose ahead of future ramps. That spending is ok with me if the demand and the ROI is there. Which right now, that is definitely what I am seeing. Management thinks FY27 can grow faster than the 36% achieved in FY26. If that happens while cash generation recovers, I believe $FN has a strong, long term future ahead of it. NFA/DYOR . Not a trade recc.