Sanmina Corporation (SANM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$2.79	$3.31	+18.6%	—	$3.5B	—
Q2 26	$2.4	$3.16	+31.7%	—	$4B	—
Q1 26	$2.15	$2.38	+10.7%	—	$3.2B	—
Q4 25	$1.57	$1.67	+6.4%	—	$2.1B	—
Q3 25	$1.42	$1.53	+7.7%	—	$2B	—
Q2 25	$1.38	$1.41	+2.2%	—	$2B	—
Q1 25	$1.37	$1.44	+5.1%	—	$2B	—
Q4 24	$1.27	$1.43	+12.6%	—	$2B	—
Q3 24	$1.29	$1.25	-3.1%	—	$1.8B	—
Q2 24	$1.25	$1.3	+4.0%	—	$1.8B	—
Q1 24	$1.22	$1.3	+6.6%	—	$1.9B	—
Q4 23	$1.54	$1.42	-7.8%	—	$2.1B	—
Q3 23	$1.54	$1.55	+0.6%	—	$2.2B	—
Q2 23	$1.55	$1.59	+2.6%	—	$2.3B	—
Q1 23	$1.45	$1.64	+13.1%	—	$2.4B	—
Q4 22	$1.33	$1.5	+12.8%	—	$2.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.56	—	—	$8.1B	—
FY24	—	$4	—	—	$7.6B	—
FY23	—	$5.36	—	—	$8.9B	—
FY22	—	$4.18	—	—	$7.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$6.5B	$6.9B	$7.1B	$8.2B	$7B	$6.7B	$7.9B	$8.9B	$7.6B	$8.1B
YoY change	+1.67%	+5.98%	+3.52%	+15.8%	-15.6%	-3.05%	+17.5%	+12.8%	-15.3%	+7.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	6.5B	6.9B	7.1B	8.2B	7B	6.7B	7.9B	8.9B	7.6B	8.1B
Cost of revenue	6B	6.3B	6.6B	7.6B	6.4B	6.2B	7.3B	8.2B	6.9B	7.4B
Gross profit	514.3M	519.9M	463.8M	591.9M	517.2M	526.4M	622.2M	743.2M	640.4M	716.4M
Gross margin	7.94%	7.57%	6.52%	7.19%	7.44%	7.81%	7.86%	8.32%	8.46%	8.81%
Research & development	37.7M	33.7M	30.8M	27.6M	22.6M	20.9M	21.3M	26.4M	28.5M	31.1M
Selling, general & administrative	244.6M	251.6M	250.9M	260M	240.9M	234.5M	244.6M	255.1M	266.2M	290.2M
Operating expenses	282.4M	292.1M	284.6M	292.1M	263.5M	255.4M	265.9M	281.5M	294.7M	321.3M
Operating income	228.5M	227.8M	182.1M	304.4M	253.7M	271M	356.3M	461.7M	345.7M	395M
Operating margin	3.53%	3.32%	2.56%	3.7%	3.65%	4.02%	4.5%	5.17%	4.57%	4.86%
Non-operating income, net	362K	6.3M	-58.1M	-29.1M	-34.9M	29.3M	-33.1M	-26.2M	-11.4M	-51.3M
Pretax income	204.6M	213.5M	97.5M	245.6M	192.2M	281.6M	302.3M	412.8M	317.5M	339.4M
Income tax	16.8M	74.6M	193.1M	104.1M	59M	32.1M	61.9M	85.3M	79.8M	73.2M
Net income	187.8M	138.8M	-95.5M	141.5M	133.2M	249.5M	240.4M	327.5M	237.8M	266.3M
Net margin	2.9%	2.02%	-1.34%	1.72%	1.92%	3.7%	3.04%	3.67%	3.14%	3.28%
EBITDA	343.9M	350.8M	306.8M	411.6M	369.9M	425.9M	440.4M	573.4M	479.4M	519.5M
EPS	2.5	1.86	-1.37	2.05	2.02	4.12	4.18	5.36	4	4.56
Diluted EPS	2.38	1.78	-1.37	1.97	1.97	4.01	4.06	5.18	3.91	4.46

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	2.1B	1.9B	1.8B	1.8B	2B	2B	2B	2B	2.1B	3.2B	4B	3.5B
Cost of revenue	1.9B	1.7B	1.7B	1.7B	1.8B	1.8B	1.8B	1.9B	1.9B	2.9B	3.7B	3.1B
Gross profit	173.4M	160.8M	154.8M	153.5M	171.3M	167.9M	176.2M	181.1M	191.2M	242.4M	353.8M	363.3M
Gross margin	8.45%	8.58%	8.44%	8.34%	8.49%	8.37%	8.88%	8.87%	9.12%	7.6%	8.82%	10.5%
Research & development	7.7M	6.3M	6.3M	7.7M	8.2M	7M	7.3M	8.1M	8.7M	8.7M	8M	8.3M
Selling, general & administrative	62.1M	64.8M	69.2M	61.7M	70.5M	70.8M	76.3M	69.5M	73.5M	114.9M	113.5M	109.3M
Operating expenses	69.8M	71.1M	75.5M	69.4M	78.7M	77.9M	83.6M	77.6M	82.2M	123.5M	121.5M	117.6M
Operating income	103.6M	89.8M	79.2M	84.2M	92.6M	90M	92.6M	103.4M	109M	117.6M	230.4M	243.9M
Operating margin	5.05%	4.79%	4.32%	4.57%	4.59%	4.49%	4.67%	5.07%	5.2%	3.69%	5.74%	7.04%
Non-operating income, net	-12.5M	-3.3M	2K	-4.6M	-3.5M	-2.2M	-2.9M	-11.2M	-35M	-39.4M	-75.5M	-29.5M
Pretax income	86.8M	81.7M	74.4M	74.6M	86.8M	86.3M	88.4M	91.4M	73.3M	61.6M	131.1M	191.8M
Income tax	21.4M	21.3M	19.1M	19.9M	19.4M	15.4M	17.9M	18.5M	21.4M	9.8M	33.3M	66.4M
Net income	65.4M	60.4M	55.3M	54.7M	67.3M	70.9M	70.5M	72.9M	52M	51.8M	97.8M	125.3M
Net margin	3.18%	3.22%	3.01%	2.97%	3.34%	3.53%	3.55%	3.57%	2.48%	1.62%	2.44%	3.62%
EBITDA	129.9M	123M	116.2M	113.7M	126.4M	124.6M	122.6M	133.7M	138.7M	169.9M	283.7M	295.1M
EPS	1.08	1.01	0.94	0.93	1.12	1.2	1.18	1.28	0.9	0.91	1.72	2.17
Diluted EPS	1.04	0.98	0.93	0.91	1.09	1.16	1.16	1.26	0.88	0.89	1.7	2.12

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.1B	2.8B	1.9B	2.2B	1.9B	2.6B	2.8B	3.1B	3.8B	6.2B	11.8B
Enterprise value	2.2B	2.8B	2.1B	2.2B	1.7B	2.3B	2.6B	2.8B	3.5B	5.6B	12.8B
Shares outstanding	75.1M	74.5M	69.8M	69.1M	69M	67.3M	61.3M	57.8M	55.6M	53.9M	53.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	11.4	19.9	—	15.7	14	10.4	11.8	9.59	16	23.3	40.1
P/S	0.33	0.4	0.27	0.27	0.27	0.39	0.36	0.35	0.5	0.76	0.94
P/B	1.33	1.68	1.31	1.35	1.15	1.4	1.55	1.35	1.61	2.45	4.71
EV/EBITDA	6.4	8.1	6.9	5.22	4.69	5.34	6	4.9	7.29	10.7	14.8
EV/Sales	0.34	0.41	0.3	0.26	0.25	0.34	0.33	0.31	0.46	0.69	1
Earnings yield	8.79%	5.02%	—	6.38%	7.13%	9.62%	8.51%	10.4%	6.25%	4.29%	2.49%
FCF yield	12.6%	5.03%	1.95%	11.2%	12.6%	10.2%	6.8%	1.39%	6.02%	7.62%	-1.88%
PEG	—	—	—	—	—	—	—	—	—	—	0.58

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	7.94%	7.57%	6.52%	7.19%	7.44%	7.81%	7.86%	8.32%	8.46%	8.81%	10.5%
Operating margin	3.53%	3.32%	2.56%	3.7%	3.65%	4.02%	4.5%	5.17%	4.57%	4.86%	7.04%
Net margin	2.9%	2.02%	-1.34%	1.72%	1.92%	3.7%	3.04%	3.67%	3.14%	3.28%	2.41%
ROE	11.7%	8.43%	-6.49%	8.62%	8.17%	13.5%	13.2%	14.1%	10.1%	10.5%	12.5%
ROA	5.18%	3.61%	-2.34%	3.62%	3.53%	5.94%	4.97%	6.72%	4.93%	4.55%	5.86%
ROIC	12.5%	8.61%	0%	11.1%	11.7%	15.7%	17.3%	18.4%	12.6%	16.2%	16.2%
Return on tangible assets	5.18%	3.61%	-2.34%	3.62%	3.53%	5.94%	4.97%	6.72%	4.93%	4.55%	3.44%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.7	1.62	1.26	1.74	1.85	1.83	1.57	1.91	1.99	1.72	1.78
Quick ratio	1.02	0.97	0.68	1.2	1.29	1.25	0.89	1.18	1.25	1.02	1.06
Debt / equity	0.29	0.29	0.41	0.23	0.21	0.18	0.19	0.15	0.13	0.12	0.88
Debt / assets	0.13	0.12	0.15	0.1	0.09	0.08	0.07	0.07	0.07	0.05	0.22
Net debt / EBITDA	0.19	0.21	0.61	-0.17	-0.36	-0.75	-0.42	-0.57	-0.64	-1.2	0.37
Interest coverage	9.21	10.7	4.52	8.98	7.65	15.4	14.5	12.4	11.9	17.8	5.84
Effective tax rate	8.2%	35%	100%	42.4%	30.7%	11.4%	20.5%	20.7%	25.1%	21.6%	28.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	86.3	92.2	101.8	119.1	100.7	100.1	129.2	154.5	136.1	150.7	236.4
EPS (basic)	2.5	1.86	-1.37	2.05	2.02	4.12	4.18	5.36	4	4.56	4.56
EPS (diluted)	2.38	1.78	-1.37	1.97	1.97	4.01	4.06	5.18	3.91	4.46	5.6
Book value per share	21.4	22.1	21.1	23.8	23.6	27.5	29.7	40.1	42.5	47.1	47.8
FCF per share	3.59	1.87	0.54	3.59	3.4	3.94	3.14	0.76	4.12	8.77	10.8
Cash per share	5.3	5.46	6.01	6.58	6.96	9.65	8.64	11.5	11.3	17.2	34.6
Capex per share	1.54	1.45	1.63	1.84	0.93	1.07	2.12	3.28	1.96	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.78%	1.57%	1.61%	1.54%	0.93%	1.07%	1.64%	2.13%	1.44%	—	—
Capex / operating cash flow	30.8%	47.4%	107%	39.8%	21.9%	17.3%	69%	73.3%	33.3%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$2.1B	$1.9B	$1.8B	$1.8B	$2B	$2B	$2B	$2B	$2.1B	$3.2B	$4B	$3.5B
YoY change	-6.83%	-20.4%	-20.9%	-16.6%	-1.68%	+7.02%	+8.15%	+10.9%	+3.91%	+59%	+102.3%	+69.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	398.3M	406.7M	419.5M	454.7M	480.5M	650M	529.9M	667.6M	625.9M	926.3M
Receivables	973.7M	1.1B	1.2B	1.1B	1B	1.2B	1.1B	1.2B	1.3B	1.4B
Inventory	946.2M	1.1B	1.4B	900.6M	861.3M	1B	1.7B	1.5B	1.4B	2B
Total current assets	2.4B	2.6B	3B	2.9B	2.8B	3.3B	3.9B	3.9B	3.9B	4.9B
Property, plant & equipment	617.5M	640.3M	642.9M	630.6M	559.2M	533M	575.2M	632.8M	616.1M	682.4M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	3.6B	3.8B	4.1B	3.9B	3.8B	4.2B	4.8B	4.9B	4.8B	5.9B
Accounts payable	1.1B	1.3B	1.5B	1.3B	1.2B	1.5B	2B	1.6B	1.4B	1.6B
Short-term debt	28.4M	88.4M	593.3M	38.4M	18.8M	18.8M	17.5M	25.9M	17.5M	17.5M
Total current liabilities	1.4B	1.6B	2.4B	1.7B	1.5B	1.8B	2.5B	2B	1.9B	2.8B
Long-term debt	434.1M	391.4M	14.3M	347M	329.2M	311.6M	329.2M	312.3M	299.8M	283M
Total liabilities	2B	2.2B	2.6B	2.3B	2.1B	2.4B	3B	2.6B	2.5B	3.3B
Shareholders' equity	1.6B	1.6B	1.5B	1.6B	1.6B	1.9B	1.8B	2.3B	2.4B	2.5B
Total debt	462.5M	479.9M	607.7M	385.3M	348M	330.3M	346.7M	338.3M	317.3M	300.5M
Net debt	64.2M	73.2M	188.1M	-69.4M	-132.5M	-319.7M	-183.1M	-329.3M	-308.5M	-625.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	667.6M	631.6M	650.9M	657.7M	625.9M	642.4M	647.1M	797.9M	926.3M	1.4B	1.6B	1.8B
Receivables	1.2B	1.1B	1.1B	1.2B	1.3B	1.4B	1.4B	1.4B	1.4B	2.6B	2.2B	2B
Inventory	1.5B	1.4B	1.4B	1.4B	1.4B	1.4B	1.5B	1.6B	2B	3.1B	3B	3.2B
Total current assets	3.9B	3.6B	3.7B	3.7B	3.9B	3.9B	4.1B	4.3B	4.9B	7.9B	7.6B	7.8B
Property, plant & equipment	632.8M	—	—	—	616.1M	—	—	—	682.4M	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	613.4M	717.6M	243.8M
Total assets	4.9B	4.6B	4.7B	4.7B	4.8B	4.8B	5B	5.2B	5.9B	9.8B	9.7B	9.7B
Accounts payable	1.6B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.6B	2.3B	2.5B	2.5B
Short-term debt	25.9M	17.5M	17.5M	17.5M	17.5M	17.5M	17.5M	17.5M	17.5M	172M	172M	215M
Total current liabilities	2B	1.8B	1.8B	1.8B	1.9B	1.9B	2.1B	2.2B	2.8B	4.6B	4.4B	4.4B
Long-term debt	312.3M	308.1M	303.9M	299.7M	299.8M	295.6M	291.4M	287.2M	283M	2B	2B	2B
Total liabilities	2.6B	2.3B	2.4B	2.3B	2.5B	2.4B	2.6B	2.7B	3.3B	7.1B	7.1B	7B
Shareholders' equity	2.3B	2.3B	2.3B	2.3B	2.4B	2.4B	2.4B	2.5B	2.5B	2.7B	2.6B	2.8B
Total debt	338.3M	325.6M	321.4M	317.2M	317.3M	313.1M	308.9M	304.7M	300.5M	2.2B	2.2B	2.2B
Net debt	-329.3M	-306M	-329.5M	-340.5M	-308.5M	-329.3M	-338.2M	-493.2M	-625.8M	755.1M	596.2M	327.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	187.8M	138.8M	-95.5M	141.5M	133.2M	249.5M	240.4M	327.5M	237.8M	266.3M
Depreciation & amortization	111.9M	118.8M	118.8M	116.9M	114.2M	109.7M	108.8M	118.2M	122.4M	119.5M
Stock-based compensation	26.9M	37.9M	32.8M	30.8M	26.2M	35M	39.6M	50.4M	57.4M	63.4M
Change in working capital	63.9M	-109.9M	-124.8M	-27M	9.3M	-4.8M	-238.2M	-267.5M	-118.6M	113.6M
Operating cash flow	375.3M	227.7M	106.7M	319.2M	294.4M	416.4M	188.6M	259.2M	328.3M	620.7M
Capital expenditure	-115.7M	-107.9M	-114.2M	-127.1M	-64.4M	-72.2M	-130.2M	-190M	-109.2M	—
Investing cash flow	-174.5M	-107.9M	-116.2M	-127.6M	-64.4M	-96.3M	-132.2M	-192.5M	-114.4M	34.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-142.2M	-176.9M	-157.6M	-12.6M	-179M	-64.1M	-331.1M	-107.1M	-254.3M	-113.8M
Financing cash flow	-3.3B	-1B	-3.9B	-4.3B	-2.1B	-476.9M	-2.2B	-2.9B	-2.4B	-736.5M
Net change in cash	-3.1B	-888.5M	-3.9B	-4.1B	-1.9B	-156.8M	-2.1B	-2.8B	-2.2B	-81.6M
Free cash flow	269.7M	139.1M	37.5M	248.3M	234.6M	265M	192.2M	43.8M	229M	473.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	65.4M	60.4M	55.3M	54.7M	67.3M	70.9M	70.5M	72.9M	52M	51.8M	97.8M	125.3M
Depreciation & amortization	30.5M	30.7M	30.3M	29.8M	31.7M	31.8M	28.2M	29.8M	29.7M	39.5M	47.1M	48.2M
Stock-based compensation	12.9M	12.6M	14.7M	14.7M	15.5M	15.3M	15.8M	16.1M	16.2M	23.6M	24.1M	24.8M
Change in working capital	-33.5M	30.1M	-24.6M	12.2M	-141M	-36M	14.8M	87.6M	47.2M	62.6M	512.8M	-73.3M
Operating cash flow	84.4M	139.4M	79.6M	116.4M	-11.9M	87.9M	127.4M	200.8M	199.1M	178.7M	398.8M	124.5M
Capital expenditure	-37.8M	-34.2M	-29.6M	-22.8M	-22.6M	-17.1M	-30.7M	—	—	—	—	—
Investing cash flow	-38.3M	-34.8M	-30.3M	-23.4M	-22.6M	-17.2M	19M	-60K	-340K	-1.3B	-1M	242.8M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-33.5M	-115.8M	-17.6M	-80.8M	-65.6M	-24.5M	-84.3M	-13.5M	147K	-79.8M	-159.4M	0
Financing cash flow	-580.8M	-880.6M	-680M	-84.5M	-2.2B	-285.5M	-118M	-18.8M	-58.2M	1.8B	-181.8M	-4.2M
Net change in cash	-534.8M	-776.1M	-630.6M	8.5M	-2.2B	-214.9M	28.4M	182M	140.5M	587.6M	215.9M	363.1M
Free cash flow	38.7M	91.8M	42.7M	67.2M	27.2M	46.9M	126.1M	163.7M	136.6M	91.9M	342M	23.6M

Sanmina Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement