SANMNasdaqPrinted Circuit BoardsFiscal year ends October 3
SANMINA CORP
Financials through Q3 FY2026, quarter ended Jun 27, 2026Last filing: 10-Q on Jul 27, 2026
$176.48+0.81 (+0.46%)
Close on Oct 19, 2026
- Market cap
- $9.73B
- P/E (TTM)
- 31.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
8.8%+1.4 pts over 5 years
Operating margin
4.4%+1.2 pts over 5 years
Net margin
3.0%+1.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.4% | +0.9% | +3.2% | +2.5% | |
| Gross profit | +11.9% | +4.8% | +6.7% | +4.0% | |
| Operating income | +5.7% | +0.5% | +10.1% | +5.7% | |
| Net income | +10.5% | +0.8% | +13.0% | -4.2% | |
| EPS, diluted | +14.1% | +5.4% | +18.9% | +0.1% | |
| Free cash flow | +106.7% | +35.0% | +15.1% | +23.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.0% | 8.1% | – | |
| Return on assets | 5.3% | 3.5% | 4.6% | |
| Current ratio | 1.70 | 1.85 | 1.72 | |
| Debt to equity | 0.29 | 0.21 | – | |
| Net debt to EBITDA | 0.19× | -0.40× | -1.32× | |
| Interest coverage | 9.0× | 7.6× | 17.6× | |
| Inventory turnover | 6.4× | 7.3× | 4.3× | |
| Capex to revenue | 1.9% | 0.9% | 1.8% | |
| Diluted shares | 79M | 71M | 55M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Sanmina generated $1.87B from operations and spent $1.06B on capital expenditure, dividends and share buybacks. 63% of that went back into the business.
Generated
$1.87B
Used
$1.06B
Capital expenditure$661.89M63%Dividends$00%Share buybacks$395.16M37%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.0%
×Asset turnover1.75×
×Equity multiplier2.46×
=Return on equity, FY202213.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2022 | 3.0% | 1.75× | 2.46× | 13.1% |
| FY2021 | 3.7% | 1.69× | 2.29× | 14.4% |
| FY2020 | 1.9% | 1.81× | 2.35× | 8.1% |
| FY2019 | 1.7% | 2.06× | 2.56× | 9.1% |
| FY2018 | -1.3% | 1.79× | 2.54× | -6.1% |
| FY2017 | 2.0% | 1.84× | 2.29× | 8.5% |
| FY2016 | 2.9% | 1.82× | 2.27× | 12.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$245.89M
- Cash generatingOperating cash flow above zero$620.66M
- Return on assets improvedROA up on the prior year4.6% → 5.1%
- Earnings backed by cashOperating cash flow above net income$620.66M vs $245.89M
- Less leverageLong-term debt to assets fell6.2% → 4.8%
- Better liquidityCurrent ratio rose1.99 → 1.72
- No dilutionShare count did not rise57M → 55M
- Gross margin improvedGross margin up on the prior year8.46% → 8.81%
- More efficientAsset turnover rose1.55 → 1.69