Sanmina (SANM) Financials

$238.55 +16.66 (+7.51%)

Closing price 04:00 PM Eastern

Extended Trading

$233.00 -5.55 (-2.33%)

As of 07:24 PM Eastern

Annual Income Statements for Sanmina

This table shows Sanmina's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/3/2015	10/1/2016	9/30/2017	9/29/2018	9/28/2019	10/3/2020	10/2/2021	10/1/2022	9/30/2023	9/28/2024	9/27/2025
Net Income / (Loss) Attributable to Common Shareholders	377	188	139	-96	142	140	250	240	310	223	246
Consolidated Net Income / (Loss)	377	188	139	-96	142	140	250	240	328	238	266
Net Income / (Loss) Continuing Operations	377	188	139	-96	142	140	250	240	328	238	266
Total Pre-Tax Income	176	205	213	98	246	201	282	302	413	318	339
Total Operating Income	203	225	226	119	286	228	256	349	456	335	355
Total Gross Profit	484	514	520	464	592	526	526	622	743	640	716
Total Revenue	6,375	6,481	6,869	7,110	8,234	6,960	6,738	7,920	8,935	7,568	8,128
Operating Revenue	6,375	6,481	6,869	7,110	8,234	6,960	6,738	7,920	8,935	7,568	8,128
Total Cost of Revenue	5,891	5,967	6,349	6,646	7,642	6,435	6,212	7,297	8,192	6,928	7,412
Operating Cost of Revenue	5,891	5,967	6,349	6,646	7,642	6,435	6,212	7,297	8,192	6,928	7,412
Total Operating Expenses	281	289	293	344	306	298	271	273	288	305	362
Selling, General & Admin Expense	248	249	258	251	260	241	235	245	255	266	290
Research & Development Expense	33	38	34	31	28	23	21	21	26	29	31
Restructuring Charge	-	2.70	1.34	32	18	28	15	6.82	6.05	10	40
Total Other Income / (Expense), net	-27	-20	-13	-22	-40	-27	26	-47	-43	-18	-15
Interest Expense	29	25	22	28	31	29	20	22	36	29	20
Interest & Investment Income	1.10	0.68	1.27	1.27	1.11	2.32	0.93	1.63	14	12	16
Other Income / (Expense), net	0.77	4.06	7.68	4.56	-11	-0.35	44	-26	-20	-1.22	-11
Income Tax Expense	-201	17	75	193	104	61	32	62	85	80	73
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	0.00	0.00	18	15	20
Basic Earnings per Share	$4.61	$2.50	$1.86	($1.37)	$2.05	$2.02	$3.82	$3.92	$5.36	$4.00	$4.56
Weighted Average Basic Shares Outstanding	81.82M	75.09M	74.48M	69.83M	69.13M	69.04M	65.32M	61.31M	57.85M	55.59M	53.95M
Diluted Earnings per Share	$4.41	$2.38	$1.78	($1.37)	$1.97	$1.97	$3.72	$3.81	$5.18	$3.91	$4.46
Weighted Average Diluted Shares Outstanding	85.64M	78.79M	78.13M	69.83M	71.68M	70.79M	67.08M	63.12M	59.82M	56.97M	55.18M
Weighted Average Basic & Diluted Shares Outstanding	81.80M	75.10M	74.60M	69.70M	69.98M	65.07M	64.38M	57.43M	56.84M	53.93M	54.56M

This table shows Sanmina's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	62	57	52	52	61	65	64	69	48	49	94
Consolidated Net Income / (Loss)	65	60	55	55	67	71	71	73	52	52	98
Net Income / (Loss) Continuing Operations	65	60	55	55	67	71	71	73	52	52	98
Total Pre-Tax Income	87	82	74	75	87	86	88	91	73	62	131
Total Operating Income	99	88	76	82	90	89	92	96	78	74	157
Total Gross Profit	173	161	155	154	171	168	176	181	191	242	354
Total Revenue	2,052	1,875	1,835	1,841	2,018	2,006	1,984	2,042	2,096	3,190	4,013
Operating Revenue	2,052	1,875	1,835	1,841	2,018	2,006	1,984	2,042	2,096	3,190	4,013
Total Cost of Revenue	1,879	1,714	1,680	1,688	1,846	1,838	1,808	1,861	1,905	2,947	3,659
Operating Cost of Revenue	1,879	1,714	1,680	1,688	1,846	1,838	1,808	1,861	1,905	2,947	3,659
Total Operating Expenses	74	73	79	71	82	79	85	85	113	169	197
Selling, General & Admin Expense	62	65	69	62	70	71	76	70	74	115	114
Research & Development Expense	7.72	6.29	6.32	7.66	8.24	7.02	7.32	8.08	8.67	8.66	7.99
Amortization Expense	-	-	-	-	-	0.00	0.00	-	-	1.19	1.87
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	-	-	-	73
Restructuring Charge	4.32	2.19	3.27	1.79	2.97	1.44	0.99	7.55	31	44	0.79
Total Other Income / (Expense), net	-13	-5.89	-1.53	-7.73	-2.81	-2.33	-3.21	-4.47	-5.13	-12	-26
Interest Expense	8.26	8.41	8.22	7.51	5.05	5.00	4.98	4.98	5.19	25	32
Interest & Investment Income	3.91	3.66	3.41	2.57	2.80	3.40	3.72	4.20	4.54	8.06	8.43
Other Income / (Expense), net	-8.17	-1.13	3.28	-2.80	-0.56	-0.73	-1.96	-3.69	-4.47	4.65	-2.17
Income Tax Expense	21	21	19	20	19	15	18	19	21	9.83	33
Net Income / (Loss) Attributable to Noncontrolling Interest	3.51	3.30	2.82	3.14	5.96	5.88	6.31	4.27	3.91	2.47	4.17
Basic Earnings per Share	$1.08	$1.01	$0.94	$0.93	$1.12	$1.20	$1.18	$1.28	$0.90	$0.91	$1.72
Weighted Average Basic Shares Outstanding	57.85M	56.54M	55.59M	55.47M	55.59M	54.21M	54.41M	53.61M	53.95M	54.16M	54.33M
Diluted Earnings per Share	$1.03	$0.98	$0.93	$0.91	$1.09	$1.16	$1.16	$1.26	$0.88	$0.89	$1.70
Weighted Average Diluted Shares Outstanding	59.82M	58.24M	56.67M	56.71M	56.97M	55.85M	55.51M	54.49M	55.18M	55.52M	55.11M
Weighted Average Basic & Diluted Shares Outstanding	56.84M	55.78M	55.45M	54.65M	53.93M	54.33M	53.46M	53.28M	54.56M	54.60M	53.60M

This table details how cash moves in and out of Sanmina's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/3/2015	10/1/2016	9/30/2017	9/29/2018	9/28/2019	10/3/2020	10/2/2021	10/1/2022	9/30/2023	9/28/2024	9/27/2025
Net Change in Cash & Equivalents	-54	-14	8.37	13	35	26	170	-120	138	-42	340
Net Cash From Operating Activities	175	390	251	156	383	301	338	331	235	340	621
Net Cash From Continuing Operating Activities	175	390	251	156	383	301	338	331	235	340	621
Net Income / (Loss) Continuing Operations	377	188	139	-96	142	140	250	240	328	238	266
Consolidated Net Income / (Loss)	377	188	139	-96	142	140	250	240	328	238	266
Depreciation Expense	101	112	119	119	117	114	110	109	118	122	119
Non-Cash Adjustments To Reconcile Net Income	21	27	38	63	10	34	66	-104	80	119	22
Changes in Operating Assets and Liabilities, net	-324	63	-45	70	114	12	-87	86	-291	-139	213
Net Cash From Investing Activities	-102	-175	-108	-116	-128	-64	-91	-132	-192	-114	-108
Net Cash From Continuing Investing Activities	-102	-175	-108	-116	-128	-64	-91	-132	-192	-114	-108
Purchase of Property, Plant & Equipment	-119	-120	-112	-119	-135	-66	-73	-139	-191	-111	-147
Purchase of Investments	-	-	0.00	-2.02	-0.50	-30	-2.71	-2.00	-2.50	-5.20	-15
Sale of Property, Plant & Equipment	31	4.74	3.94	4.72	7.53	1.57	1.08	8.43	1.41	2.03	4.88
Sale and/or Maturity of Investments	-	0.00	-	0.00	0.00	30	-	-	0.00	0.00	49
Net Cash From Financing Activities	-127	-231	-135	-28	-220	-210	-77	-314	95	-270	-174
Net Cash From Continuing Financing Activities	-127	-231	-135	-28	-220	-210	-77	-314	95	-270	-174
Repayment of Debt	-2,717	-3,070	-918	-3,916	-4,480	-1,948	-418	-2,206	-2,998	-2,130	-580
Repurchase of Common Equity	-123	-142	-177	-158	-13	-179	-64	-331	-85	-228	-114
Issuance of Debt	2,694	2,962	933	4,041	4,259	1,909	402	2,221	2,981	2,109	563
Issuance of Common Equity	19	18	27	4.41	14	7.79	2.99	2.38	3.41	6.16	0.00
Other Financing Activities, net	-	-	-	-	0.00	0.00	0.00	0.00	193	-26	-43
Effect of Exchange Rate Changes	-0.07	1.88	0.80	0.96	0.11	-	-0.20	-4.51	0.50	2.18	1.75
Cash Interest Paid	19	21	18	26	30	20	15	18	32	26	17
Cash Income Taxes Paid	45	29	20	35	32	31	33	48	57	69	99

This table details how cash moves in and out of Sanmina's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Change in Cash & Equivalents	11	-36	19	6.85	-32	17	44	151	129	501	159
Net Cash From Operating Activities	77	126	72	90	52	64	157	201	199	179	399
Net Cash From Continuing Operating Activities	77	126	72	90	52	64	157	201	199	179	399
Net Income / (Loss) Continuing Operations	65	60	55	55	67	71	71	73	52	52	98
Consolidated Net Income / (Loss)	65	60	55	55	67	71	71	73	52	52	98
Depreciation Expense	31	31	30	30	32	32	28	30	30	40	47
Non-Cash Adjustments To Reconcile Net Income	26	14	9.78	49	46	13	18	-11	2.00	14	-18
Changes in Operating Assets and Liabilities, net	-45	21	-23	-44	-93	-52	40	109	115	24	272
Net Cash From Investing Activities	-38	-35	-30	-23	-26	-17	4.32	-33	-63	-1,434	-58
Net Cash From Continuing Investing Activities	-38	-35	-30	-23	-26	-17	4.32	-33	-63	-1,434	-58
Purchase of Property, Plant & Equipment	-39	-34	-30	-23	-25	-17	-31	-37	-62	-87	-57
Acquisitions	-	-	-	-	-	0.00	-	-	-	-1,356	-1.13
Other Investing Activities, net	-	-0.60	-0.70	-0.60	-	-0.14	0.36	4.49	-	0.07	0.09
Net Cash From Financing Activities	-26	-128	-22	-59	-60	-29	-118	-19	-8.22	1,756	-182
Net Cash From Continuing Financing Activities	-26	-128	-22	-59	-60	-29	-118	-19	-8.22	1,756	-182
Repurchase of Common Equity	-34	-116	-133	-55	-66	-16	-76	-13	0.15	-80	-159
Other Financing Activities, net	-	-	-	-	-	-8.34	-	-0.89	-4.47	-34	-22
Effect of Exchange Rate Changes	-1.25	1.25	-0.89	-0.77	2.59	-1.34	1.17	1.64	0.29	-0.19	-0.23
Cash Interest Paid	7.58	7.54	7.61	6.84	4.11	4.50	4.12	4.07	3.90	13	30
Cash Income Taxes Paid	12	20	18	14	17	19	16	32	31	23	40

This table presents Sanmina's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/3/2015	10/1/2016	9/30/2017	9/29/2018	9/28/2019	10/3/2020	10/2/2021	10/1/2022	9/30/2023	9/28/2024	9/27/2025
Total Assets	3,493	3,625	3,847	4,085	3,906	3,773	4,207	4,836	4,874	4,823	5,858
Total Current Assets	2,323	2,376	2,616	3,014	2,921	2,819	3,282	3,891	3,880	3,870	4,865
Cash & Equivalents	412	398	407	420	455	481	650	530	668	626	926
Accounts Receivable	937	974	1,110	1,177	1,128	1,043	1,192	1,139	1,231	1,338	1,400
Inventories, net	919	946	1,052	1,374	901	861	1,037	1,684	1,477	1,444	1,988
Prepaid Expenses	55	57	48	44	41	38	54	62	58	79	125
Other Current Assets	-	-	-	0.00	396	397	349	476	446	384	426
Plant, Property, & Equipment, net	591	618	640	643	631	559	533	575	633	616	682
Total Noncurrent Assets	579	632	591	428	354	394	392	370	362	336	310
Goodwill	-	-	-	-	-	-	-	-	-	-	30
Noncurrent Deferred & Refundable Income Taxes	498	514	477	344	280	273	235	210	178	161	171
Other Noncurrent Operating Assets	82	118	114	84	74	121	157	160	184	176	109
Total Liabilities & Shareholders' Equity	3,493	3,625	3,847	4,085	3,906	3,773	4,207	4,836	4,874	4,823	5,858
Total Liabilities	1,973	2,015	2,200	2,612	2,263	2,143	2,328	3,016	2,555	2,461	3,319
Total Current Liabilities	1,381	1,401	1,616	2,402	1,683	1,523	1,763	2,471	2,033	1,941	2,822
Short-Term Debt	113	28	88	593	38	19	19	18	26	18	18
Accounts Payable	1,035	1,121	1,280	1,547	1,337	1,210	1,465	2,041	1,559	1,442	1,579
Current Deferred Revenue	-	-	-	-	-	-	-	-	-	216	878
Current Employee Benefit Liabilities	120	127	131	125	128	122	118	131	127	133	168
Other Current Liabilities	111	124	117	136	180	172	162	282	321	133	180
Total Noncurrent Liabilities	592	614	584	210	580	620	565	545	522	521	497
Long-Term Debt	424	434	391	14	347	329	312	329	312	300	283
Other Noncurrent Operating Liabilities	168	180	192	196	233	291	254	215	210	221	214
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,520	1,610	1,648	1,473	1,643	1,630	1,879	1,820	2,319	2,362	2,539
Total Preferred & Common Equity	1,520	1,610	1,648	1,473	1,643	1,630	1,879	1,820	2,169	2,197	2,539
Total Common Equity	1,520	1,610	1,648	1,473	1,643	1,630	1,879	1,820	2,169	2,197	2,539
Common Stock	6,076	6,121	6,185	6,223	6,268	6,302	6,340	6,381	6,513	6,577	2,539

This table presents Sanmina's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	4/1/2023	7/1/2023	12/30/2023	3/30/2024	6/29/2024	12/28/2024	3/29/2025	6/28/2025	12/27/2025	3/28/2026
Total Assets	5,307	5,029	4,958	4,617	4,686	4,664	4,812	4,967	5,222	9,801	9,669
Total Current Assets	4,355	4,035	3,953	3,630	3,697	3,693	3,876	4,067	4,302	7,853	7,611
Cash & Equivalents	735	718	657	632	651	658	642	647	798	1,416	1,576
Accounts Receivable	1,309	1,209	1,280	1,102	1,138	1,155	1,354	1,383	1,379	2,646	2,230
Inventories, net	1,728	1,553	1,489	1,392	1,384	1,384	1,426	1,548	1,590	3,053	3,027
Prepaid Expenses	81	69	68	61	75	82	67	104	123	307	306
Other Current Assets	502	486	459	445	449	415	387	385	412	431	473
Plant, Property, & Equipment, net	591	617	632	635	641	630	605	609	630	955	993
Total Noncurrent Assets	362	377	373	352	348	340	330	291	290	994	1,064
Goodwill	-	-	-	-	-	-	-	-	-	307	359
Noncurrent Deferred & Refundable Income Taxes	190	196	187	173	170	163	153	156	154	379	326
Other Noncurrent Operating Assets	172	181	186	178	178	177	177	135	136	308	379
Total Liabilities & Shareholders' Equity	5,307	5,029	4,958	4,617	4,686	4,664	4,812	4,967	5,222	9,801	9,669
Total Liabilities	3,133	2,811	2,692	2,344	2,359	2,322	2,391	2,571	2,747	7,140	7,057
Total Current Liabilities	2,585	2,255	2,158	1,822	1,848	1,822	1,883	2,073	2,248	4,615	4,442
Short-Term Debt	18	18	18	18	18	18	18	18	18	172	172
Accounts Payable	2,139	1,829	1,724	1,422	1,443	1,434	1,392	1,351	1,433	2,348	2,509
Current Deferred Revenue	-	-	-	-	-	-	240	444	525	1,251	1,231
Current Employee Benefit Liabilities	136	126	139	132	127	127	126	135	162	217	217
Other Current Liabilities	292	282	278	250	260	243	108	126	111	628	312
Total Noncurrent Liabilities	548	556	534	522	511	501	508	498	499	2,524	2,615
Long-Term Debt	325	321	317	308	304	300	296	291	287	1,999	2,000
Other Noncurrent Operating Liabilities	223	236	218	214	208	201	212	207	212	526	615
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,174	2,218	2,266	2,273	2,327	2,341	2,421	2,396	2,475	2,661	2,612
Total Preferred & Common Equity	2,174	2,218	2,266	2,273	2,327	2,341	2,421	2,396	2,475	2,661	2,612
Total Common Equity	2,174	2,218	2,266	2,273	2,327	2,341	2,421	2,396	2,475	2,661	2,612
Common Stock	2,174	2,218	2,266	2,273	2,327	2,341	2,421	2,396	2,475	2,661	2,612

This table displays calculated financial ratios and metrics derived from Sanmina's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	10/3/2015	10/1/2016	9/30/2017	9/29/2018	9/28/2019	10/3/2020	10/2/2021	10/1/2022	9/30/2023	9/28/2024	9/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.57%	1.67%	5.98%	3.52%	15.80%	-15.47%	-3.19%	17.53%	12.82%	-15.30%	7.40%
EBITDA Growth	1.32%	11.93%	3.56%	-31.19%	61.52%	-12.92%	20.02%	5.37%	28.20%	-17.53%	1.42%
EBIT Growth	0.53%	12.25%	2.32%	-47.04%	121.98%	-17.41%	32.08%	7.63%	34.76%	-23.24%	2.83%
NOPAT Growth	78.65%	-52.55%	-28.63%	-179.43%	240.91%	-3.88%	43.11%	22.54%	30.10%	-30.51%	10.72%
Net Income Growth	91.34%	-50.21%	-26.09%	-168.81%	248.13%	-1.27%	78.61%	-3.67%	36.25%	-27.41%	11.99%
EPS Growth	94.27%	-46.03%	-25.21%	-176.97%	243.80%	0.00%	88.83%	2.42%	35.96%	-24.52%	14.07%
Operating Cash Flow Growth	-43.10%	123.06%	-35.67%	-37.67%	144.83%	-21.52%	12.57%	-2.21%	-28.92%	44.67%	82.43%
Free Cash Flow Firm Growth	-41.09%	56.76%	-43.59%	-156.86%	542.65%	-7.30%	-29.45%	21.28%	-95.71%	2,081.07%	122.73%
Invested Capital Growth	24.27%	1.73%	2.80%	-3.48%	-5.29%	-4.82%	4.11%	4.97%	21.57%	3.20%	-6.80%
Revenue Q/Q Growth	-0.77%	0.45%	1.32%	1.74%	0.19%	-0.25%	-3.57%	8.17%	-1.89%	-0.45%	0.98%
EBITDA Q/Q Growth	-3.45%	1.31%	-3.14%	-12.80%	14.21%	7.65%	-7.79%	7.16%	2.59%	-0.21%	-3.55%
EBIT Q/Q Growth	-5.84%	0.49%	-5.25%	-21.57%	22.18%	11.93%	-10.04%	10.10%	2.38%	-0.62%	-4.19%
NOPAT Q/Q Growth	89.83%	-53.95%	-34.89%	-45.37%	12.45%	25.29%	-8.79%	17.26%	-0.34%	-1.99%	-4.70%
Net Income Q/Q Growth	94.08%	-53.32%	-35.06%	-35.57%	15.48%	29.53%	-5.49%	8.48%	2.97%	0.84%	-5.46%
EPS Q/Q Growth	96.00%	-50.31%	-35.04%	-31.73%	15.88%	31.33%	-4.37%	10.12%	2.37%	1.56%	-4.50%
Operating Cash Flow Q/Q Growth	-38.66%	36.67%	-17.72%	7.75%	51.18%	-26.85%	3.62%	-2.88%	-2.10%	-6.84%	31.09%
Free Cash Flow Firm Q/Q Growth	-92.40%	115.15%	-39.65%	28.54%	101.96%	-29.54%	-22.05%	25.83%	-81.81%	-5.61%	34.32%
Invested Capital Q/Q Growth	10,352.79%	2.16%	1.32%	-2.17%	-8.50%	-1.06%	0.58%	0.53%	2.37%	2.61%	-3.45%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	7.59%	7.94%	7.57%	6.52%	7.19%	7.55%	7.81%	7.86%	8.32%	8.46%	8.81%
EBITDA Margin	4.78%	5.26%	5.14%	3.42%	4.76%	4.91%	6.08%	5.45%	6.20%	6.03%	5.70%
Operating Margin	3.19%	3.47%	3.30%	1.68%	3.47%	3.27%	3.80%	4.41%	5.10%	4.43%	4.36%
EBIT Margin	3.20%	3.53%	3.41%	1.74%	3.34%	3.27%	4.46%	4.08%	4.87%	4.42%	4.23%
Profit (Net Income) Margin	5.92%	2.90%	2.02%	-1.34%	1.72%	2.01%	3.70%	3.04%	3.67%	3.14%	3.28%
Tax Burden Percent	214.12%	91.80%	65.03%	-97.94%	57.62%	69.59%	88.60%	79.51%	79.34%	74.87%	78.44%
Interest Burden Percent	86.43%	89.41%	91.17%	78.66%	89.23%	88.31%	93.80%	93.55%	94.79%	94.99%	98.75%
Effective Tax Rate	-114.12%	8.20%	34.97%	197.94%	42.38%	30.41%	11.40%	20.49%	20.66%	25.13%	21.56%
Return on Invested Capital (ROIC)	29.29%	12.43%	8.68%	-6.92%	10.19%	10.32%	14.84%	17.39%	19.94%	12.43%	14.02%
ROIC Less NNEP Spread (ROIC-NNEP)	-27.59%	-7.13%	-3.62%	9.50%	-29.11%	28.88%	4.77%	32.31%	33.21%	16.64%	16.57%
Return on Net Nonoperating Assets (RNNOA)	-2.02%	-0.43%	-0.15%	0.80%	-1.11%	-1.78%	-0.61%	-4.39%	-4.11%	-2.27%	-3.16%
Return on Equity (ROE)	27.27%	12.00%	8.52%	-6.12%	9.08%	8.54%	14.23%	13.00%	15.83%	10.16%	10.87%
Cash Return on Invested Capital (CROIC)	7.64%	10.72%	5.91%	-3.38%	15.63%	15.26%	10.81%	12.54%	0.47%	9.28%	21.06%
Operating Return on Assets (OROA)	5.99%	6.43%	6.27%	3.13%	6.89%	5.92%	7.53%	7.15%	8.97%	6.89%	6.44%
Return on Assets (ROA)	11.09%	5.28%	3.72%	-2.41%	3.54%	3.64%	6.25%	5.32%	6.75%	4.90%	4.99%
Return on Common Equity (ROCE)	27.27%	12.00%	8.52%	-6.12%	9.08%	8.54%	14.23%	13.00%	15.26%	9.48%	10.09%
Return on Equity Simple (ROE_SIMPLE)	24.81%	11.67%	8.43%	-6.49%	8.62%	8.57%	13.28%	13.21%	15.10%	10.82%	0.00%
Net Operating Profit after Tax (NOPAT)	435	206	147	-117	165	158	227	278	362	251	278
NOPAT Margin	6.82%	3.18%	2.14%	-1.65%	2.00%	2.28%	3.37%	3.51%	4.05%	3.32%	3.42%
Net Nonoperating Expense Percent (NNEP)	56.88%	19.56%	12.29%	-16.42%	39.31%	-18.56%	10.07%	-14.91%	-13.27%	-4.22%	-2.54%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	9.79%
Cost of Revenue to Revenue	92.41%	92.07%	92.43%	93.48%	92.81%	92.45%	92.19%	92.14%	91.68%	91.54%	91.19%
SG&A Expenses to Revenue	3.89%	3.84%	3.76%	3.53%	3.16%	3.46%	3.48%	3.09%	2.85%	3.52%	3.57%
R&D to Revenue	0.52%	0.58%	0.49%	0.43%	0.33%	0.32%	0.31%	0.27%	0.30%	0.38%	0.38%
Operating Expenses to Revenue	4.40%	4.47%	4.27%	4.84%	3.71%	4.28%	4.01%	3.44%	3.22%	4.03%	4.45%
Earnings before Interest and Taxes (EBIT)	204	229	234	124	275	227	300	323	436	334	344
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	304	341	353	243	392	342	410	432	554	457	463
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.13	1.31	1.70	1.27	1.36	1.10	1.36	1.46	1.43	1.71	2.58
Price to Tangible Book Value (P/TBV)	1.13	1.31	1.70	1.27	1.36	1.10	1.36	1.46	1.43	1.71	2.58
Price to Revenue (P/Rev)	0.27	0.32	0.41	0.26	0.27	0.26	0.38	0.34	0.35	0.50	0.75
Price to Earnings (P/E)	4.56	11.20	20.17	0.00	15.80	12.88	10.22	11.08	10.02	16.91	24.73
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	21.94%	8.93%	4.96%	0.00%	6.33%	7.77%	9.78%	9.02%	9.98%	5.91%	4.04%
Enterprise Value to Invested Capital (EV/IC)	1.12	1.30	1.67	1.24	1.38	1.11	1.43	1.52	1.47	1.76	2.95
Enterprise Value to Revenue (EV/Rev)	0.29	0.33	0.42	0.29	0.26	0.24	0.33	0.31	0.33	0.48	0.69
Enterprise Value to EBITDA (EV/EBITDA)	6.06	6.36	8.14	8.50	5.52	4.88	5.44	5.74	5.29	7.93	12.18
Enterprise Value to EBIT (EV/EBIT)	9.05	9.47	12.27	16.64	7.87	7.33	7.43	7.68	6.72	10.83	16.41
Enterprise Value to NOPAT (EV/NOPAT)	4.24	10.51	19.51	0.00	13.14	10.52	9.84	8.93	8.10	14.41	20.28
Enterprise Value to Operating Cash Flow (EV/OCF)	10.55	5.56	11.45	13.19	5.66	5.55	6.59	7.50	12.45	10.64	9.09
Enterprise Value to Free Cash Flow (EV/FCFF)	16.25	12.19	28.62	0.00	8.57	7.12	13.50	12.38	340.34	19.30	13.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.35	0.29	0.29	0.41	0.23	0.21	0.18	0.19	0.15	0.13	0.12
Long-Term Debt to Equity	0.28	0.27	0.24	0.01	0.21	0.20	0.17	0.18	0.13	0.13	0.11
Financial Leverage	0.07	0.06	0.04	0.08	0.04	-0.06	-0.13	-0.14	-0.12	-0.14	-0.19
Leverage Ratio	2.46	2.27	2.29	2.54	2.56	2.35	2.27	2.45	2.35	2.07	2.18
Compound Leverage Factor	2.13	2.03	2.09	2.00	2.29	2.07	2.13	2.29	2.22	1.97	2.15
Debt to Total Capital	26.11%	22.32%	22.55%	29.21%	19.00%	17.59%	14.95%	16.01%	12.73%	11.85%	10.58%
Short-Term Debt to Total Capital	5.51%	1.37%	4.16%	28.52%	1.89%	0.95%	0.85%	0.81%	0.98%	0.65%	0.62%
Long-Term Debt to Total Capital	20.60%	20.95%	18.40%	0.69%	17.11%	16.65%	14.11%	15.20%	11.76%	11.19%	9.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.63%	6.16%	6.52%
Common Equity to Total Capital	73.89%	77.68%	77.45%	70.79%	81.00%	82.41%	85.05%	83.99%	81.63%	82.00%	82.89%
Debt to EBITDA	1.77	1.36	1.36	2.50	0.98	1.02	0.81	0.80	0.61	0.69	0.65
Net Debt to EBITDA	0.41	0.19	0.21	0.77	-0.18	-0.39	-0.78	-0.42	-0.59	-0.68	-1.35
Long-Term Debt to EBITDA	1.39	1.27	1.11	0.06	0.88	0.96	0.76	0.76	0.56	0.66	0.61
Debt to NOPAT	1.24	2.24	3.26	-5.19	2.34	2.20	1.46	1.25	0.94	1.26	1.08
Net Debt to NOPAT	0.29	0.31	0.50	-1.61	-0.42	-0.84	-1.41	-0.66	-0.91	-1.23	-2.25
Long-Term Debt to NOPAT	0.97	2.10	2.66	-0.12	2.10	2.08	1.37	1.18	0.86	1.19	1.02
Altman Z-Score	1.14	1.35	1.61	1.07	1.93	1.58	1.78	1.80	2.47	2.41	2.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.62%	6.72%	7.14%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.68	1.70	1.62	1.26	1.74	1.85	1.86	1.57	1.91	1.99	1.72
Quick Ratio	0.98	0.98	0.94	0.66	0.94	1.00	1.05	0.68	0.93	1.01	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	114	178	100	-57	253	234	165	200	8.60	188	418
Operating Cash Flow to CapEx	197.54%	337.30%	232.59%	137.02%	301.21%	466.64%	468.54%	254.08%	123.80%	311.56%	435.62%
Free Cash Flow to Firm to Interest Expense	3.95	7.14	4.58	-2.06	8.21	8.10	8.45	8.92	0.24	6.43	20.73
Operating Cash Flow to Interest Expense	6.08	15.66	11.44	5.64	12.45	10.40	17.31	14.72	6.48	11.66	30.80
Operating Cash Flow Less CapEx to Interest Expense	3.00	11.02	6.52	1.52	8.32	8.17	13.61	8.93	1.25	7.92	23.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.87	1.82	1.84	1.79	2.06	1.81	1.69	1.75	1.84	1.56	1.52
Accounts Receivable Turnover	6.65	6.78	6.59	6.22	7.14	6.41	6.03	6.79	7.54	5.89	5.94
Inventory Turnover	6.50	6.40	6.36	5.48	6.72	7.30	6.55	5.36	5.18	4.74	4.32
Fixed Asset Turnover	11.05	10.73	10.92	11.08	12.93	11.70	12.34	14.29	14.79	12.12	12.52
Accounts Payable Turnover	5.42	5.53	5.29	4.70	5.30	5.05	4.64	4.16	4.55	4.62	4.91
Days Sales Outstanding (DSO)	54.87	53.80	55.37	58.72	51.10	56.94	60.55	53.72	48.40	61.93	61.47
Days Inventory Outstanding (DIO)	56.13	57.04	57.43	66.61	54.32	49.97	55.76	68.04	70.43	76.94	84.51
Days Payable Outstanding (DPO)	67.39	65.96	69.03	77.64	68.88	72.24	78.58	87.68	80.22	79.06	74.38
Cash Conversion Cycle (CCC)	43.61	44.89	43.78	47.68	36.54	34.67	37.73	34.08	38.61	59.81	71.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,646	1,674	1,721	1,661	1,573	1,497	1,559	1,636	1,989	2,053	1,913
Invested Capital Turnover	4.29	3.90	4.05	4.20	5.09	4.53	4.41	4.96	4.93	3.74	4.10
Increase / (Decrease) in Invested Capital	321	28	47	-60	-88	-76	62	77	353	64	-140
Enterprise Value (EV)	1,844	2,168	2,873	2,064	2,166	1,667	2,231	2,481	2,927	3,620	5,640
Market Capitalization	1,719	2,104	2,800	1,876	2,235	1,799	2,550	2,664	3,106	3,764	6,080
Book Value per Share	$18.90	$21.78	$21.86	$21.67	$23.60	$24.05	$28.86	$31.48	$37.90	$40.20	$44.18
Tangible Book Value per Share	$18.90	$21.78	$21.86	$21.67	$23.60	$24.05	$28.86	$31.48	$37.90	$40.20	$44.18
Total Capital	2,058	2,072	2,128	2,081	2,028	1,978	2,209	2,166	2,657	2,679	2,840
Total Debt	537	462	480	608	385	348	330	347	338	317	300
Total Long-Term Debt	424	434	391	14	347	329	312	329	312	300	283
Net Debt	125	64	73	188	-69	-133	-320	-183	-329	-309	-626
Capital Expenditures (CapEx)	89	116	108	114	127	64	72	130	190	109	142
Debt-free, Cash-free Net Working Capital (DFCFNWC)	644	605	682	786	822	835	887	907	1,205	1,321	1,135
Debt-free Net Working Capital (DFNWC)	1,056	1,003	1,089	1,206	1,276	1,316	1,537	1,437	1,872	1,947	2,061
Net Working Capital (NWC)	942	974	1,000	613	1,238	1,297	1,519	1,419	1,846	1,930	2,043
Net Nonoperating Expense (NNE)	58	19	8.45	-21	23	19	-23	37	34	13	12
Net Nonoperating Obligations (NNO)	125	64	73	188	-69	-133	-320	-183	-329	-309	-626
Total Depreciation and Amortization (D&A)	101	112	119	119	117	114	110	109	118	122	119
Debt-free, Cash-free Net Working Capital to Revenue	10.10%	9.33%	9.93%	11.06%	9.98%	12.00%	13.17%	11.45%	13.48%	17.46%	13.96%
Debt-free Net Working Capital to Revenue	16.56%	15.47%	15.85%	16.96%	15.50%	18.90%	22.82%	18.14%	20.95%	25.73%	25.35%
Net Working Capital to Revenue	14.78%	15.03%	14.56%	8.61%	15.03%	18.63%	22.54%	17.92%	20.66%	25.50%	25.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.61	$2.50	$1.86	($1.37)	$2.05	$2.02	$4.12	$4.18	$5.36	$4.00	$4.56
Adjusted Weighted Average Basic Shares Outstanding	81.82M	75.09M	74.48M	69.83M	69.13M	69.04M	65.32M	61.31M	57.85M	55.59M	53.95M
Adjusted Diluted Earnings per Share	$4.41	$2.38	$1.78	($1.37)	$1.97	$1.97	$4.01	$4.06	$5.18	$3.91	$4.46
Adjusted Weighted Average Diluted Shares Outstanding	85.64M	78.79M	78.13M	69.83M	71.68M	70.79M	67.08M	63.12M	59.82M	56.97M	55.18M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	78.40M	73.42M	72.02M	68.26M	69.98M	65.07M	64.38M	57.43M	56.84M	53.93M	54.56M
Normalized Net Operating Profit after Tax (NOPAT)	142	209	148	127	175	182	240	283	366	259	310
Normalized NOPAT Margin	2.23%	3.22%	2.16%	1.79%	2.13%	2.62%	3.56%	3.58%	4.10%	3.42%	3.81%
Pre Tax Income Margin	2.76%	3.16%	3.11%	1.37%	2.98%	2.88%	4.18%	3.82%	4.62%	4.20%	4.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.09	9.19	10.68	4.47	8.95	7.87	15.36	14.38	12.00	11.45	17.06
NOPAT to Interest Expense	15.12	8.28	6.71	-4.22	5.36	5.48	11.60	12.37	9.96	8.61	13.80
EBIT Less CapEx to Interest Expense	4.01	4.54	5.76	0.36	4.82	5.64	11.66	8.59	6.77	7.71	9.99
NOPAT Less CapEx to Interest Expense	12.04	3.64	1.80	-8.33	1.23	3.25	7.91	6.57	4.73	4.87	6.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	32.54%	75.73%	127.45%	-165.00%	8.91%	128.14%	25.67%	137.74%	32.70%	106.96%	42.74%

This table displays calculated financial ratios and metrics derived from Sanmina's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	54,604,888.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	54,604,888.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.72
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.73%	-20.42%	-20.93%	-16.57%	-1.68%	7.02%	8.15%	10.87%	3.91%	58.98%	102.27%
EBITDA Growth	12.99%	-22.02%	-25.56%	-18.86%	-0.77%	2.18%	7.63%	11.54%	-14.12%	39.30%	71.32%
EBIT Growth	12.53%	-28.98%	-32.75%	-24.11%	-2.27%	1.66%	13.16%	15.86%	-16.89%	-10.96%	72.70%
NOPAT Growth	-0.81%	-38.56%	-39.05%	-31.85%	-7.04%	12.50%	29.46%	26.56%	-20.02%	-15.04%	60.26%
Net Income Growth	16.90%	-36.54%	-35.16%	-33.03%	3.04%	17.43%	27.49%	33.16%	-22.82%	-26.99%	38.72%
EPS Growth	13.19%	-36.36%	-30.08%	-28.91%	5.83%	18.37%	24.73%	38.46%	-19.27%	-23.28%	46.55%
Operating Cash Flow Growth	-6.16%	238.56%	11.98%	59.26%	-32.50%	-49.27%	116.90%	123.09%	283.77%	179.53%	154.22%
Free Cash Flow Firm Growth	-13,139.36%	-25.65%	29.26%	101.24%	102.11%	56.61%	112.97%	3,308.45%	3,220.93%	-2,306.50%	-7,830.19%
Invested Capital Growth	21.57%	10.42%	8.68%	2.96%	3.20%	6.37%	2.99%	-0.96%	-6.80%	63.31%	55.93%
Revenue Q/Q Growth	-7.03%	-8.64%	-2.14%	0.37%	9.56%	-0.55%	-1.11%	2.90%	2.69%	52.15%	25.82%
EBITDA Q/Q Growth	-9.75%	-3.66%	-6.54%	-0.16%	10.38%	-0.79%	-1.55%	3.46%	-15.01%	60.91%	21.08%
EBIT Q/Q Growth	-13.12%	-5.11%	-8.34%	0.42%	11.88%	-1.29%	2.03%	2.82%	-19.74%	5.75%	97.89%
NOPAT Q/Q Growth	-15.63%	-13.46%	-12.78%	7.02%	15.09%	4.72%	0.38%	4.62%	-27.26%	11.23%	89.34%
Net Income Q/Q Growth	-20.04%	-7.64%	-8.37%	-1.03%	23.02%	5.26%	-0.52%	3.37%	-28.69%	-0.42%	89.00%
EPS Q/Q Growth	-19.53%	-4.85%	-5.10%	-2.15%	19.78%	6.42%	0.00%	8.62%	-30.16%	1.14%	91.01%
Operating Cash Flow Q/Q Growth	36.01%	63.97%	-42.62%	24.45%	-42.36%	23.25%	145.33%	28.00%	-0.85%	-10.22%	123.11%
Free Cash Flow Firm Q/Q Growth	-22.62%	56.52%	14.74%	102.72%	109.61%	-992.57%	125.49%	614.84%	104.23%	-746.80%	18.14%
Invested Capital Q/Q Growth	2.37%	-1.14%	1.58%	0.16%	2.61%	1.90%	-1.65%	-3.68%	-3.45%	78.55%	-6.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	8.45%	8.58%	8.44%	8.34%	8.49%	8.37%	8.88%	8.87%	9.12%	7.60%	8.82%
EBITDA Margin	5.93%	6.25%	5.97%	5.94%	5.98%	5.97%	5.94%	5.97%	4.94%	5.23%	5.03%
Operating Margin	4.84%	4.67%	4.14%	4.47%	4.44%	4.42%	4.62%	4.70%	3.74%	2.31%	3.91%
EBIT Margin	4.44%	4.61%	4.32%	4.32%	4.41%	4.38%	4.52%	4.52%	3.53%	2.45%	3.86%
Profit (Net Income) Margin	3.18%	3.22%	3.01%	2.97%	3.34%	3.53%	3.55%	3.57%	2.48%	1.62%	2.44%
Tax Burden Percent	75.34%	73.90%	74.31%	73.34%	77.60%	82.16%	79.76%	79.74%	70.87%	84.04%	74.59%
Interest Burden Percent	95.23%	94.50%	93.93%	93.80%	97.47%	98.17%	98.60%	99.15%	99.12%	78.70%	84.69%
Effective Tax Rate	24.66%	26.10%	25.69%	26.66%	22.40%	17.84%	20.24%	20.26%	29.13%	15.96%	25.41%
Return on Invested Capital (ROIC)	17.96%	15.57%	12.78%	12.65%	12.90%	13.77%	14.26%	15.14%	10.87%	6.56%	12.57%
ROIC Less NNEP Spread (ROIC-NNEP)	21.64%	16.82%	13.10%	14.36%	13.59%	14.37%	15.03%	15.99%	11.65%	1.81%	-2.39%
Return on Net Nonoperating Assets (RNNOA)	-2.68%	-2.64%	-2.05%	-2.07%	-1.85%	-1.95%	-2.12%	-2.77%	-2.22%	0.15%	-0.12%
Return on Equity (ROE)	15.28%	12.93%	10.74%	10.58%	11.05%	11.82%	12.13%	12.37%	8.65%	6.71%	12.45%
Cash Return on Invested Capital (CROIC)	0.47%	7.21%	6.52%	10.08%	9.28%	6.61%	10.67%	15.62%	21.06%	-38.41%	-31.90%
Operating Return on Assets (OROA)	8.17%	7.86%	7.08%	6.83%	6.89%	7.15%	7.35%	7.35%	5.37%	3.13%	5.98%
Return on Assets (ROA)	5.86%	5.49%	4.95%	4.70%	5.21%	5.77%	5.78%	5.81%	3.77%	2.07%	3.78%
Return on Common Equity (ROCE)	14.73%	12.93%	10.74%	10.58%	10.31%	11.82%	12.13%	12.37%	8.03%	6.71%	12.45%
Return on Equity Simple (ROE_SIMPLE)	0.00%	12.88%	11.29%	10.07%	0.00%	10.25%	11.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	75	65	56	60	70	73	73	76	56	62	117
NOPAT Margin	3.64%	3.45%	3.08%	3.28%	3.45%	3.63%	3.68%	3.74%	2.65%	1.94%	2.92%
Net Nonoperating Expense Percent (NNEP)	-3.68%	-1.25%	-0.32%	-1.71%	-0.68%	-0.60%	-0.77%	-0.85%	-0.78%	4.74%	14.96%
Return On Investment Capital (ROIC_SIMPLE)	-	2.49%	-	-	-	2.66%	2.70%	2.75%	1.96%	1.28%	2.45%
Cost of Revenue to Revenue	91.55%	91.42%	91.56%	91.66%	91.51%	91.63%	91.12%	91.13%	90.88%	92.40%	91.18%
SG&A Expenses to Revenue	3.03%	3.46%	3.77%	3.35%	3.49%	3.53%	3.85%	3.41%	3.51%	3.60%	2.83%
R&D to Revenue	0.38%	0.34%	0.34%	0.42%	0.41%	0.35%	0.37%	0.40%	0.41%	0.27%	0.20%
Operating Expenses to Revenue	3.61%	3.91%	4.30%	3.87%	4.05%	3.95%	4.26%	4.17%	5.38%	5.29%	4.90%
Earnings before Interest and Taxes (EBIT)	91	86	79	80	89	88	90	92	74	78	155
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	122	117	110	109	121	120	118	122	104	167	202
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.43	1.29	1.49	1.57	1.71	1.71	1.74	2.12	2.58	3.16	2.74
Price to Tangible Book Value (P/TBV)	1.43	1.29	1.49	1.57	1.71	1.71	1.74	2.12	2.58	3.58	3.17
Price to Revenue (P/Rev)	0.35	0.35	0.44	0.48	0.50	0.54	0.53	0.65	0.75	0.90	0.63
Price to Earnings (P/E)	10.02	10.69	13.99	16.47	16.91	17.93	17.19	20.23	24.73	36.59	27.53
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.98%	9.36%	7.15%	6.07%	5.91%	5.58%	5.82%	4.94%	4.04%	2.73%	3.63%
Enterprise Value to Invested Capital (EV/IC)	1.47	1.34	1.57	1.67	1.76	1.82	1.86	2.40	2.95	2.69	2.41
Enterprise Value to Revenue (EV/Rev)	0.33	0.31	0.39	0.44	0.48	0.49	0.49	0.59	0.69	0.99	0.68
Enterprise Value to EBITDA (EV/EBITDA)	5.29	5.06	6.50	7.28	7.93	8.28	8.18	9.89	12.18	19.90	14.20
Enterprise Value to EBIT (EV/EBIT)	6.72	6.58	8.68	9.91	10.83	11.33	11.05	13.24	16.41	27.47	19.40
Enterprise Value to NOPAT (EV/NOPAT)	8.10	8.21	11.03	13.01	14.41	14.67	13.86	16.27	20.28	34.42	24.91
Enterprise Value to Operating Cash Flow (EV/OCF)	12.45	8.13	9.46	9.13	10.64	13.68	10.55	10.03	9.09	12.48	7.92
Enterprise Value to Free Cash Flow (EV/FCFF)	340.34	19.48	25.12	16.77	19.30	28.36	17.68	15.27	13.50	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.14	0.14	0.14	0.13	0.13	0.13	0.12	0.12	0.82	0.83
Long-Term Debt to Equity	0.13	0.14	0.13	0.13	0.13	0.12	0.12	0.12	0.11	0.75	0.77
Financial Leverage	-0.12	-0.16	-0.16	-0.14	-0.14	-0.14	-0.14	-0.17	-0.19	0.08	0.05
Leverage Ratio	2.35	2.23	2.14	2.09	2.07	2.01	2.04	2.05	2.18	2.88	2.92
Compound Leverage Factor	2.23	2.11	2.01	1.96	2.02	1.97	2.02	2.04	2.16	2.26	2.48
Debt to Total Capital	12.73%	12.53%	12.13%	11.93%	11.85%	11.45%	11.42%	10.96%	10.58%	44.92%	45.40%
Short-Term Debt to Total Capital	0.98%	0.67%	0.66%	0.66%	0.65%	0.64%	0.65%	0.63%	0.62%	3.56%	3.60%
Long-Term Debt to Total Capital	11.76%	11.86%	11.47%	11.27%	11.19%	10.81%	10.77%	10.33%	9.97%	41.36%	41.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.63%	0.00%	0.00%	0.00%	6.16%	0.00%	0.00%	0.00%	6.52%	0.00%	0.00%
Common Equity to Total Capital	81.63%	87.47%	87.87%	88.07%	82.00%	88.55%	88.58%	89.04%	82.89%	55.08%	54.60%
Debt to EBITDA	0.61	0.63	0.67	0.69	0.69	0.68	0.66	0.63	0.65	4.71	3.98
Net Debt to EBITDA	-0.59	-0.59	-0.68	-0.74	-0.68	-0.72	-0.72	-1.03	-1.35	1.64	1.09
Long-Term Debt to EBITDA	0.56	0.59	0.63	0.65	0.66	0.64	0.62	0.60	0.61	4.33	3.67
Debt to NOPAT	0.94	1.01	1.13	1.24	1.26	1.21	1.12	1.04	1.08	8.14	6.99
Net Debt to NOPAT	-0.91	-0.95	-1.16	-1.33	-1.23	-1.27	-1.23	-1.69	-2.25	2.83	1.92
Long-Term Debt to NOPAT	0.86	0.96	1.07	1.17	1.19	1.14	1.06	0.98	1.02	7.50	6.43
Altman Z-Score	2.24	3.12	3.11	3.12	2.24	3.19	3.09	3.22	2.36	2.08	2.23
Noncontrolling Interest Sharing Ratio	3.62%	0.00%	0.00%	0.00%	6.72%	0.00%	0.00%	0.00%	7.14%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.91	1.99	2.00	2.03	1.99	2.06	1.96	1.91	1.72	1.70	1.71
Quick Ratio	0.93	0.95	0.97	1.00	1.01	1.06	0.98	0.97	0.82	0.88	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-278	-121	-103	2.80	5.88	-52	13	96	195	-1,263	-1,034
Operating Cash Flow to CapEx	196.00%	368.32%	244.22%	395.22%	210.63%	374.23%	510.76%	541.28%	318.69%	205.82%	703.09%
Free Cash Flow to Firm to Interest Expense	-33.68	-14.38	-12.55	0.37	1.16	-10.49	2.69	19.19	37.61	-51.07	-32.16
Operating Cash Flow to Interest Expense	9.31	14.98	8.80	11.99	10.28	12.79	31.50	40.31	38.36	7.23	12.41
Operating Cash Flow Less CapEx to Interest Expense	4.56	10.91	5.20	8.96	5.40	9.37	25.34	32.86	26.32	3.72	10.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.84	1.70	1.64	1.58	1.56	1.63	1.63	1.63	1.52	1.27	1.55
Accounts Receivable Turnover	7.54	7.01	6.79	6.25	5.89	6.27	6.23	6.35	5.94	4.66	6.28
Inventory Turnover	5.18	4.97	4.97	4.84	4.74	5.01	4.90	4.94	4.32	3.80	4.53
Fixed Asset Turnover	14.79	13.79	12.67	12.05	12.12	12.42	12.56	12.78	12.52	11.94	14.16
Accounts Payable Turnover	4.55	4.35	4.46	4.41	4.62	5.01	5.14	5.13	4.91	4.56	5.37
Days Sales Outstanding (DSO)	48.40	52.04	53.76	58.45	61.93	58.21	58.63	57.45	61.47	78.40	58.14
Days Inventory Outstanding (DIO)	70.43	73.51	73.44	75.34	76.94	72.91	74.52	73.82	84.51	95.93	80.49
Days Payable Outstanding (DPO)	80.22	83.92	81.83	82.80	79.06	72.82	71.02	71.14	74.38	80.10	67.92
Cash Conversion Cycle (CCC)	38.61	41.62	45.37	50.99	59.81	58.31	62.13	60.13	71.59	94.23	70.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,989	1,967	1,998	2,001	2,053	2,092	2,057	1,982	1,913	3,416	3,208
Invested Capital Turnover	4.93	4.51	4.15	3.86	3.74	3.79	3.87	4.04	4.10	3.38	4.31
Increase / (Decrease) in Invested Capital	353	186	160	58	64	125	60	-19	-140	1,324	1,151
Enterprise Value (EV)	2,927	2,634	3,139	3,333	3,620	3,804	3,826	4,750	5,640	9,176	7,744
Market Capitalization	3,106	2,940	3,468	3,674	3,764	4,133	4,164	5,243	6,080	8,421	7,148
Book Value per Share	$37.90	$40.20	$41.72	$42.22	$40.20	$44.90	$44.10	$46.29	$44.18	$48.77	$47.83
Tangible Book Value per Share	$37.90	$40.20	$41.72	$42.22	$40.20	$44.90	$44.10	$46.29	$44.18	$43.15	$41.26
Total Capital	2,657	2,598	2,648	2,659	2,679	2,734	2,704	2,780	2,840	4,832	4,784
Total Debt	338	326	321	317	317	313	309	305	300	2,171	2,172
Total Long-Term Debt	312	308	304	300	300	296	291	287	283	1,999	2,000
Net Debt	-329	-306	-329	-341	-309	-329	-338	-493	-626	755	596
Capital Expenditures (CapEx)	39	34	30	23	25	17	31	37	62	87	57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,205	1,194	1,216	1,232	1,321	1,369	1,364	1,274	1,135	1,994	1,766
Debt-free Net Working Capital (DFNWC)	1,872	1,826	1,867	1,889	1,947	2,011	2,011	2,072	2,061	3,409	3,341
Net Working Capital (NWC)	1,846	1,808	1,850	1,872	1,930	1,994	1,994	2,054	2,043	3,237	3,169
Net Nonoperating Expense (NNE)	9.43	4.35	1.14	5.67	2.18	1.92	2.56	3.56	3.63	10	19
Net Nonoperating Obligations (NNO)	-329	-306	-329	-341	-309	-329	-338	-493	-626	755	596
Total Depreciation and Amortization (D&A)	31	31	30	30	32	32	28	30	30	89	47
Debt-free, Cash-free Net Working Capital to Revenue	13.48%	14.12%	15.26%	16.20%	17.46%	17.77%	17.38%	15.82%	13.96%	21.41%	15.57%
Debt-free Net Working Capital to Revenue	20.95%	21.59%	23.43%	24.85%	25.73%	26.12%	25.63%	25.74%	25.35%	36.61%	29.46%
Net Working Capital to Revenue	20.66%	21.39%	23.21%	24.62%	25.50%	25.89%	25.40%	25.52%	25.14%	34.77%	27.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.08	$1.01	$0.94	$0.93	$1.12	$1.20	$1.18	$1.28	$0.90	$0.91	$1.72
Adjusted Weighted Average Basic Shares Outstanding	57.85M	56.54M	55.59M	55.47M	55.59M	54.21M	54.41M	53.61M	53.95M	54.16M	54.33M
Adjusted Diluted Earnings per Share	$1.03	$0.98	$0.93	$0.91	$1.09	$1.16	$1.16	$1.26	$0.88	$0.89	$1.70
Adjusted Weighted Average Diluted Shares Outstanding	59.82M	58.24M	56.70M	56.71M	56.97M	55.85M	55.51M	54.49M	55.18M	55.52M	55.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	56.84M	55.78M	55.45M	54.65M	53.93M	54.33M	53.46M	53.28M	54.56M	54.60M	53.60M
Normalized Net Operating Profit after Tax (NOPAT)	78	66	59	62	72	74	74	82	77	99	118
Normalized NOPAT Margin	3.80%	3.54%	3.21%	3.35%	3.56%	3.69%	3.72%	4.04%	3.68%	3.10%	2.93%
Pre Tax Income Margin	4.23%	4.36%	4.06%	4.05%	4.30%	4.30%	4.46%	4.48%	3.50%	1.93%	3.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.03	10.28	9.64	10.60	17.64	17.57	18.01	18.51	14.26	3.17	4.82
NOPAT to Interest Expense	9.06	7.69	6.87	8.05	13.77	14.56	14.68	15.35	10.71	2.50	3.64
EBIT Less CapEx to Interest Expense	6.28	6.21	6.04	7.57	12.76	14.16	11.84	11.06	2.22	-0.35	3.05
NOPAT Less CapEx to Interest Expense	4.31	3.63	3.27	5.01	8.90	11.14	8.51	7.90	-1.32	-1.01	1.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	32.70%	73.39%	83.33%	94.25%	106.96%	65.65%	93.69%	72.87%	42.74%	71.82%	92.04%

Financials Breakdown Chart

Key Financial Trends

Sanmina Corp (NASDAQ: SANM) has shown a multi-quarter pattern of solid cash generation with a notable spike in revenue in the most recent quarter (Q1 2026) driven by acquisitions. Over the last four years, profitability has remained positive but modest, while the company has steadily expanded its balance sheet and tapped financing to fund growth. The combination of strong operating cash flow and substantial debt financing suggests strategic expansion, albeit with higher leverage to support acquisitions. Below are the key takeaways for retail investors, organized with the most positives first, followed by neutral factors, and then potential negatives.

Revenue acceleration in Q1 2026 driven by acquisitions: Revenue jumped to about $3.19 billion in Q1 2026, from roughly $2.0–2.1 billion in the prior year, signaling an expanded top line from deal activity.
Robust operating cash flow (CFO) in recent quarters: Net cash from continuing operating activities was solid in the latest quarters (e.g., about $179 million in Q1 2026 and ~$199 million in Q4 2025), indicating strong cash generation from core operations.
Consistently positive net income from continuing operations: Quarterly net income from continuing operations has been in the mid-to-high tens of millions, with recent quarters showing about $52 million (Q4 2025) and around $52 million (Q1 2026) after adjustments.
Free cash flow generally positive across recent quarters: After capital expenditures, free cash flow has remained positive in multiple quarters (for example, Q3 2025 through Q4 2025), supported by strong CFO relative to capex.
Strong liquidity on the balance sheet: Cash and equivalents around $1.4 billion in Q1 2026, plus healthy cash flow, provide liquidity to fund near-term needs and potential bolt-on acquisitions.
Moderate gross and operating margins: Gross margins have been in the mid to high single digits (roughly 7–9%), and operating margins have generally hovered in the low single digits, reflecting a cost structure typical for manufacturing/EMS peers but leaving limited cushion for sharp margin compression.
Asset growth tied to acquisitions: The jump in total assets in 2025–2026 reflects goodwill and other intangible assets from acquisitions, which can support scale but may introduce higher impairment risk if synergies falter.
Substantial one-time cash outlays for acquisitions in Q1 2026: Acquisitions show a large cash outflow (approximately $1.36 billion), underscoring a major use of cash to fuel growth.
Rising debt and interest expense: The company carries a sizable long-term debt load (around $2.0 billion) with interest expense a notable line item (about $24.7 million in Q1 2026), contributing to higher financing costs and leverage risk.

05/06/26 08:41 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Sanmina's Financials

When does Sanmina's financial year end?

According to the most recent income statement we have on file, Sanmina's fiscal year ends in September. Their fiscal year 2025 ended on September 27, 2025.

How has Sanmina's net income changed over the last 10 years?

Sanmina's net income appears to be on an upward trend, with a most recent value of $266.26 million in 2025, falling from $377.26 million in 2015. The previous period was $237.75 million in 2024. See where experts think Sanmina is headed by visiting Sanmina's forecast page.

What is Sanmina's operating income?

Sanmina's total operating income in 2025 was $354.57 million, based on the following breakdown:

Total Gross Profit: $716.36 million
Total Operating Expenses: $361.79 million

How has Sanmina's revenue changed over the last 10 years?

Over the last 10 years, Sanmina's total revenue changed from $6.37 billion in 2015 to $8.13 billion in 2025, a change of 27.5%.

How much debt does Sanmina have?

Sanmina's total liabilities were at $3.32 billion at the end of 2025, a 34.8% increase from 2024, and a 68.2% increase since 2015.

How much cash does Sanmina have?

In the past 10 years, Sanmina's cash and equivalents has ranged from $398.29 million in 2016 to $926.27 million in 2025, and is currently $926.27 million as of their latest financial filing in 2025.

How has Sanmina's book value per share changed over the last 10 years?

Over the last 10 years, Sanmina's book value per share changed from 18.90 in 2015 to 44.18 in 2025, a change of 133.8%.

Related Companies

Financial statements for NASDAQ:SANM last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Sanmina (SANM) Financials

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