SANM · Sanmina Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $8.13B | $7.57B | $8.94B | $7.89B | $6.76B | $6.96B |
| Cost of Revenue | $7.41B | $6.93B | $8.19B | $7.25B | $6.20B | $6.43B |
| Gross Profit | $716.36M | $640.43M | $743.21M | $640.51M | $551.80M | $525.71M |
| R&D | $31.09M | $28.51M | $26.43M | $21.34M | $20.91M | $22.56M |
| SG&A | $290.22M | $266.19M | $255.07M | $244.57M | $234.54M | $240.93M |
| Total Operating Expenses | $361.79M | $304.94M | $287.55M | $272.73M | $270.50M | $298.02M |
| D&A | $119.47M | $122.42M | $118.24M | $108.78M | $109.66M | $114.22M |
| Operating Income | $354.57M | $335.49M | $455.66M | $367.79M | $281.30M | $227.69M |
| Interest Expense | $20.15M | $29.18M | $36.29M | $22.47M | $19.55M | $28.90M |
| Income Tax | $73.17M | $79.78M | $85.29M | $64.51M | $38.01M | $61.05M |
| Net Income | $245.89M | $222.54M | $309.97M | $256.12M | $269.00M | $139.71M |
| EPS - Basic | $4.56 | $4.00 | $5.36 | $4.18 | $4.12 | $2.02 |
| EPS - Diluted | $4.46 | $3.91 | $5.18 | $4.06 | $4.01 | $1.97 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $926.27M | $625.86M | $667.57M | $529.86M | $650.03M | $480.53M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | $1.99B | $1.44B | $1.48B | $1.69B | $1.04B | $861.28M |
| Accounts Payable | $1.58B | $1.44B | $1.61B | $2.03B | $1.46B | $1.21B |
| Current Assets | $4.87B | $3.87B | $3.88B | $3.93B | $3.28B | $2.82B |
| Total Assets | $5.86B | $4.82B | $4.87B | $4.86B | $4.21B | $3.77B |
| Current Liabilities | $2.82B | $1.94B | $2.03B | $2.45B | $1.76B | $1.52B |
| Long-term Debt | $282.97M | $299.82M | $312.33M | $329.24M | $311.57M | $329.25M |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $2.54B | $2.36B | $1.62B | $1.86B | $1.88B | $1.63B |
| Retained Earnings | ($2.46B) | ($2.71B) | ($2.93B) | ($3.20B) | ($3.45B) | ($3.72B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $620.66M | $340.22M | $235.17M | $330.85M | $338.34M | $300.56M |
| Investing Cash Flow | ($108.21M) | ($114.40M) | ($192.46M) | ($132.21M) | ($91.33M) | ($64.41M) |
| Financing Cash Flow | ($173.84M) | ($269.71M) | $94.50M | ($314.30M) | ($77.32M) | ($210.28M) |
| CapEx | $147.36M | $111.23M | $191.37M | $138.64M | $73.30M | $65.98M |
| Free Cash Flow | $473.30M | $228.99M | $43.80M | $192.22M | $265.05M | $234.57M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 8.8% | 8.5% | 8.3% | 8.1% | 8.2% | 7.6% |
| Operating margin | 4.4% | 4.4% | 5.1% | 4.7% | 4.2% | 3.3% |
| EBITDA margin | 5.8% | 6.1% | 6.4% | 6.0% | 5.8% | 4.9% |
| Net margin | 3.0% | 2.9% | 3.5% | 3.2% | 4.0% | 2.0% |
| Free cash flow margin | 5.8% | 3.0% | 0.5% | 2.4% | 3.9% | 3.4% |
| FCF / Net income | 1.92 | 1.03 | 0.14 | 0.75 | 0.99 | 1.68 |
| R&D / Revenue | 0.4% | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% |
| SG&A / Revenue | 3.6% | 3.5% | 2.9% | 3.1% | 3.5% | 3.5% |
| Effective tax rate | 22.9% | 26.4% | 21.6% | 20.1% | 12.4% | 30.4% |
| Return on assets | 4.2% | 4.6% | 6.4% | 5.3% | 6.4% | 3.7% |
| Return on equity | 9.7% | 9.4% | 19.1% | 13.8% | 14.3% | 8.6% |
| Return on invested capital | 9.7% | 9.3% | 18.5% | 13.4% | 11.3% | 8.1% |
| Liquidity | ||||||
| Current ratio | 1.72 | 1.99 | 1.91 | 1.60 | 1.86 | 1.85 |
| Quick ratio | 1.02 | 1.25 | 1.18 | 0.91 | 1.27 | 1.29 |
| Cash ratio | 0.33 | 0.32 | 0.33 | 0.22 | 0.37 | 0.32 |
| Leverage | ||||||
| Debt / Equity | 0.11 | 0.13 | 0.19 | 0.18 | 0.17 | 0.20 |
| Debt / Assets | 0.05 | 0.06 | 0.06 | 0.07 | 0.07 | 0.09 |
| Debt / EBITDA | 0.60 | 0.65 | 0.54 | 0.69 | 0.80 | 0.96 |
| Interest coverage | 17.6x | 11.5x | 12.6x | 16.4x | 14.4x | 7.9x |
| Equity multiplier | 2.31 | 2.04 | 3.00 | 2.61 | 2.24 | 2.31 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 1.39 | 1.57 | 1.83 | 1.62 | 1.61 | 1.84 |
| Inventory turnover | 3.73 | 4.80 | 5.55 | 4.29 | 5.99 | 7.47 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 98d | 76d | 66d | 85d | 61d | 49d |
| Days payable outstanding | 78d | 76d | 72d | 102d | 86d | 69d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 25.8x | 17.5x | 10.5x | 11.3x | 9.8x | 13.5x |
| P / B | 2.5x | 1.7x | 2.0x | 1.6x | 1.4x | 1.2x |
| P / S | 0.8x | 0.5x | 0.4x | 0.4x | 0.4x | 0.3x |
| EV / EBITDA | 12.0x | 7.8x | 5.0x | 5.7x | 5.9x | 5.1x |
| Growth | ||||||
| Revenue growth (YoY) | 7.4% | -15.3% | 13.2% | 16.8% | -2.9% | -15.5% |
| Revenue CAGR (3y) | 1.0% | 3.9% | 8.7% | -1.4% | -0.5% | 0.4% |
| Revenue CAGR (5y) | 3.2% | -1.7% | 5.4% | 2.8% | 0.8% | 1.8% |
| Gross profit growth (YoY) | 11.9% | -13.8% | 16.0% | 16.1% | 5.0% | -11.2% |
| Operating income growth (YoY) | 5.7% | -26.4% | 23.9% | 30.7% | 23.5% | -20.4% |
| Net income growth (YoY) | 10.5% | -28.2% | 21.0% | -4.8% | 92.5% | -1.3% |
| EPS growth (YoY) | 14.1% | -24.5% | 27.6% | 1.2% | 103.6% | 0.0% |
| EPS CAGR (3y) | 3.2% | -0.8% | 38.0% | 27.3% | - | 3.4% |
| EPS CAGR (5y) | 17.8% | 14.7% | - | 17.9% | 11.0% | -14.9% |
| FCF growth (YoY) | 106.7% | 422.8% | -77.2% | -27.5% | 13.0% | -5.5% |
| FCF CAGR (5y) | 15.1% | -1.6% | 3.1% | 25.0% | -0.3% | 33.3% |
| Book value growth (YoY) | 7.5% | 45.5% | -12.8% | -0.9% | 15.3% | -0.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-27.
Business segments
$16.38B totalReportable Segment IMS$6.56B · 40.0%
IMSThird Party Revenue$6.51B · 39.8%
Other Segments CPS$1.70B · 10.4%
CPSThird Party Revenue$1.62B · 9.9%
Geographic
$8.13B totalAmericas$4.65B · 57.2%
Asia Pacific$2.61B · 32.1%
EMEA$866.39M · 10.7%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Printed Circuit Boards
Comparing SANMINA CORP against the 5 most active filers in the same SIC group.