A display panel and a flexible display device are provided. The display panel includes a substrate, a first adhesive layer, a display layer, and a protective layer. The display layer includes an array layer and a light-emitting device layer. The array layer is disposed directly on the first adhesive layer, and a grid structure is disposed on the substrate. Neither a backplane nor a pressure-sensitive adhesive layer is disposed on the display panel, which allows effectively manufacture a thin display panel, reduces the film layers of the panel, and improves the flexibility of the display panel.