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Sanmina Corp (SANM) stock

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NASDAQ: SANM Nasdaq Electronic Manufacturing Services Next results ~November 9, 2026

C+ Fundamentals grade

Sanmina Corp is a US-listed company in the electronic manufacturing services industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$300

Cash-flow model

Base case. Range ~$230–$400 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 90% above it.

Price used: $159.18, November 2, 2026

Sanmina Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 9 selling1 purchase and 20 sales by directors and officers, last 12 monthsInsider trades
  • Funds308 adding, 261 cuttingOf 79 active managers that changed their stake, 46 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Sanmina files

Where Sanmina stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $12.8bn, up 58.6% on a year earlier, faster than 44.5% a quarter earlier. That growth ranks 33 of 931 among all the companies we cover. Free-cash-flow margin held at 4.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $248 a share, against a share price of $171. At that price, our model says the market is pricing in about 6.3% a year of cash-flow growth for five years, slower than the 13.6% a year revenue growth it has delivered.

Source: 10-Q filed July 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Sanmina Corp's trailing-twelve-month revenue grew 58.6% year on year, with a free-cash-flow margin of 4.7%. Where it stands out: revenue growth of 58.6% ranks 2 of 12 electronic manufacturing services companies we cover. Where it lags: gross margin of 9.0% ranks 10 of 12 electronic manufacturing services companies we cover.

Our discounted-cash-flow model values the business at ~$300 per share in the base case (~$230–$400 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 58.6% (+14.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $159.18 is 90% below our value per share of $300.
  • Fast growth. Revenue grew 58.6% over the last 12 months, against a median of 16.5% for electronic manufacturing services companies we cover.
  • Growth speeding up. The growth rate is 14.1 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 8.1% over 90 days.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 70% and a beta of 2.6 against the S&P 500.
  • Below peers: gross margin. Gross margin of 9.0% ranks 10 of 12 electronic manufacturing services companies we cover (median 11.4%).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 20.1% ranks 7 of 9 electronic manufacturing services companies we cover (median 10.6%).

Latest results: FY2026 Q3

Filed July 27, 2026
Earnings per share
$3.31 against an average estimate of $2.79: beat by 18.5%
Revenue
$3.46bn, up 69.7% on a year earlier
Share reaction
-17.3% in the first session after the results on July 27, 2026, against +0.3% for the S&P 500
Guidance given
revenue $3.3bn to $3.6bn (Fourth Quarter Fiscal 2026); non-GAAP operating margin 7.5% to 8% (Fourth Quarter Fiscal 2026)
Next report
November 9, 2026; average EPS estimate $3.27

Sanmina's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.9%
  • 1 week-1.3%
  • 1 month-30.5%
  • This year+6.1%
  • 1 year+16.1%
  • 5 years+279.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12.8B
Operating margin
4.2%
Net margin
2.4%
EPS (TTM, diluted)
$5.59

Growth

Revenue growth
+58.6%
Change in growth rate
+14.1 pts
Share count change
−0.7%

Cash

Free cash flow (TTM)
$594M
FCF margin
4.7%
Stock pay % of revenue
0.7%

Earnings

Last results
July 27, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Leadership
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Sanmina Corp valuation models and calculator

What the price is pricing in

The share price implies about 4.4% a year of cash-flow growth for five years.That is slower than the 13.6% a year revenue growth Sanmina has delivered.

  • Priced in4.4%
  • Last 12 months58.6%
  • 3 years a year11.9%
  • 5 years a year13.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($166.36, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$300
Price used
$166.36close November 3, 2026
Implied change
▲ +82%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Sanmina Corp's free cash flow after stock-based pay with after-tax interest added back ($497M, FY2026 Q3 TTM), growing 22.2% and 14.4% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$230–~$400 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Sanmina Corp's free cash flow after stock-based pay ( $497M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Sanmina Corp as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.35 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$300 ~$230–$400 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$75–$130 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$190 ~$170–$210 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$57 ~$40–$84 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$57 ~$51–$65 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$170 ~$57–$300 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Sanmina Corp with Electronic Manufacturing Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −19%
  • Last year's free-cash-flow margin change, if it persists ▲ +2%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $124$171$233$314$420$557
8.5% $94$127$172$230$306$403
10% $75$101$136$180$238$311

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$28.47$37.15$27.60$32.12$26.55$39.18$46.08$54.28$68.87$114.11$159.18
Market value$2.2bn$2.9bn$1.9bn$2.3bn$1.9bn$2.6bn$2.9bn$3.2bn$3.9bn$6.3bn$8.8bn
+ Net debt (− = net cash)$64m$73m$188m−$69m−$133m−$320m−$183m−$329m−$309m−$626m$327m
Enterprise value$2.3bn$3.0bn$2.1bn$2.2bn$1.7bn$2.3bn$2.7bn$2.9bn$3.6bn$5.7bn$9.1bn
Multiples
Price / sales 0.3x0.4x0.3x0.3x0.3x0.4x0.4x0.4x0.5x0.8x0.7x
Price / earnings 11.9x20.9x—16.3x14.1x10.5x12.1x10.5x17.6x25.6x28.5x
Price / free cash flow 8.3x20.9x51.3x9.3x8.0x9.9x15.1x74.1x17.1x13.3x14.8x
EV / EBITDA 6.9x8.6x8.9x5.5x5.2x6.3x5.9x5.1x7.9x12.0x13.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

48 /100

Moderate moat

How hard Sanmina's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 6 / 20

    Net income has been a median 4.9% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 7.8%, moving by 0.7 percentage points (standard deviation) across 10 years.

  • Durability 8 / 20

    Operating margin has been a median 4.0%; its worst year was 2.2%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 10 of 10 years, at a median 3.1% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 18.2% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (53 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $3.5bn and EPS of $3.27 (range $3.21 to $3.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.11 +100% $14.1bn +74%
Next $14.08 +16% $16.7bn +18%

Next year's EPS estimate has moved +8.1% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.9% on 90 days ago. In the last 30 days, 4 analysts raised Sanmina Corp's forecast and 0 cut it.

Consensus EPS forecast Sanmina Corp, last 90 days
$11.00 $12.00 $13.00 $14.00 $15.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $11.22 Current fiscal year, 60 days ago: $12.10 Current fiscal year, 30 days ago: $12.10 Current fiscal year, 7 days ago: $12.10 Current fiscal year, Now: $12.11 $12.11 Next fiscal year, 90 days ago: $13.02 Next fiscal year, 60 days ago: $13.92 Next fiscal year, 30 days ago: $13.92 Next fiscal year, 7 days ago: $13.92 Next fiscal year, Now: $14.08 $14.08

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $11.22$13.02
60 days ago $12.10$13.92
30 days ago $12.10$13.92
7 days ago $12.10$13.92
Now $12.11$14.08

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.79 $3.31 +18.5%
Mar 2026 $2.40 $3.16 +31.8%
Dec 2025 $2.15 $2.38 +11.0%
Sept 2025 $1.56 $1.67 +6.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 27, 2026
  • Revenue Fiscal 2026 $14bn to $14.3bn Raised
    “Revenue: $13.7 billion - $14.3 billion $14.0 billion - $14.3 billion” source
  • Revenue Fourth Quarter Fiscal 2026 $3.3bn to $3.6bn
    “Revenue: $3.3 billion - $3.6 billion” source
  • Non-GAAP diluted EPS Fiscal 2026 $11.90 to $12.20 Non-GAAP Raised
    “Non-GAAP diluted EPS (3) : $10.75 - $11.35 $11.90 - $12.20” source
  • Non-GAAP diluted EPS Fourth Quarter Fiscal 2026 $3.05 to $3.35 Non-GAAP
    “Non-GAAP diluted EPS (3) : $3.05 - $3.35” source
  • Non-GAAP operating margin Fiscal 2026 6.85% to 7.25% Non-GAAP Raised
    “Non-GAAP operating margin (3) : 6.3% - 6.6% 6.85% - 7.25%” source
  • Non-GAAP operating margin Fourth Quarter Fiscal 2026 7.5% to 8% Non-GAAP
    “Non-GAAP operating margin (3) : 7.5% - 8.0%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Sanmina Corp's revenue by +22.2% next year and +14.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+25.8%, weight 51%) , management guidance (+25.9%, weight 21%) and the company's own record (+13.0%, weight 28%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold375%
Sell00%

Monthly trend

  1. Oct 2026134
  2. Sep 2026134
  3. Aug 2026134

Counts of recommendations published by analysts covering Sanmina Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.5%
of tradable shares
Days to cover
2.64
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
5.3%
of shares
Employees
35,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +16.1%

$137.05 on October 31, 2025 to $159.18

ThenNowEffect
Revenue (last 12 months) $8.0bn $12.8bn +58.6%
Net margin 3.2% 2.4% −25.0%
P/E multiple 29.4x 28.5x −3.0%
Share count 56m 55m +0.7%

Biggest factor: revenue.

Last 3 years +198.3%

$53.36 on November 3, 2023 to $159.18

ThenNowEffect
Revenue (last 12 months) $9.1bn $12.8bn +40.1%
Net margin 3.4% 2.4% −28.3%
P/E multiple 10.4x 28.5x +173.3%
Share count 60m 55m +8.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SANM+30%+38%−10%+47%+98%+6%
Industry peers (median)+36%+1%+13%+11%+52%−5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SANM42%67%50%50%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SANM−16%−18%−30%−16%−26%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 56% from July 24, 2017 to March 16, 2020. Getting back needed a 127% gain, reached on March 17, 2021, 366 days after the low.

Price behaviour

52-week range
$122.86 – $282.72
From 52-week high
−43.7%
vs 50-day average
−19.3%
vs 200-day average
−17.0%
Volatility (1 year)
70%
Beta vs S&P 500
2.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±12.6%
After a week
6 up, 6 down
typical move ±12.1%
After a month
8 up, 4 down
typical move ±12.1%
Results releasedNext dayS&P 500 next day5 days21 days
July 27, 2026 −17.3% +0.3% −7.3% −8.3%
April 27, 2026 +12.1% −0.3% +12.7% +36.3%
January 26, 2026 −19.5% +0.9% −15.4% −9.3%
November 3, 2025 +19.4% −1.0% +27.3% +14.9%
July 28, 2025 +22.5% −0.3% +18.4% +16.9%
April 28, 2025 −3.9% +0.7% −4.1% +2.9%
January 27, 2025 −3.6% −0.6% −2.1% +0.3%
November 4, 2024 +4.3% +1.0% +16.9% +11.4%
July 29, 2024 −1.0% −0.4% −11.5% −7.2%
April 29, 2024 −3.7% −1.2% +1.0% +6.2%
January 29, 2024 +29.0% +0.7% +17.9% +23.9%
November 6, 2023 −15.2% +0.5% −10.7% −8.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Sanmina Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Sanmina Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Sanmina Corp
$6B $8B $10B $12B $14B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $8.9B Revenue (TTM), FY24 Q1: $8.5B Revenue (TTM), FY24 Q2: $8B Revenue (TTM), FY24 Q3: $7.6B Revenue (TTM), FY24 Q4: $7.6B Revenue (TTM), FY25 Q1: $7.7B Revenue (TTM), FY25 Q2: $7.8B Revenue (TTM), FY25 Q3: $8B Revenue (TTM), FY25 Q4: $8.1B Revenue (TTM), FY26 Q1: $9.3B Revenue (TTM), FY26 Q2: $11.3B Revenue (TTM), FY26 Q3: $12.8B $12.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $8.9B
FY24 Q1 $8.5B
FY24 Q2 $8B
FY24 Q3 $7.6B
FY24 Q4 $7.6B
FY25 Q1 $7.7B
FY25 Q2 $7.8B
FY25 Q3 $8B
FY25 Q4 $8.1B
FY26 Q1 $9.3B
FY26 Q2 $11.3B
FY26 Q3 $12.8B
Revenue growth, TTM YoY Sanmina Corp
-20% 0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 12.8% Revenue growth, TTM YoY, FY24 Q1: -0.8% Revenue growth, TTM YoY, FY24 Q2: -10.7% Revenue growth, TTM YoY, FY24 Q3: -16.5% Revenue growth, TTM YoY, FY24 Q4: -15.3% Revenue growth, TTM YoY, FY25 Q1: -8.9% Revenue growth, TTM YoY, FY25 Q2: -1.5% Revenue growth, TTM YoY, FY25 Q3: 5.9% Revenue growth, TTM YoY, FY25 Q4: 7.4% Revenue growth, TTM YoY, FY26 Q1: 20.9% Revenue growth, TTM YoY, FY26 Q2: 44.5% Revenue growth, TTM YoY, FY26 Q3: 58.6% 58.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 12.8%
FY24 Q1 -0.8%
FY24 Q2 -10.7%
FY24 Q3 -16.5%
FY24 Q4 -15.3%
FY25 Q1 -8.9%
FY25 Q2 -1.5%
FY25 Q3 5.9%
FY25 Q4 7.4%
FY26 Q1 20.9%
FY26 Q2 44.5%
FY26 Q3 58.6%
Operating margin (TTM) Sanmina Corp
3.5% 4% 4.5% 5% 5.5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 5.1% Operating margin (TTM), FY24 Q1: 4.9% Operating margin (TTM), FY24 Q2: 4.6% Operating margin (TTM), FY24 Q3: 4.5% Operating margin (TTM), FY24 Q4: 4.4% Operating margin (TTM), FY25 Q1: 4.4% Operating margin (TTM), FY25 Q2: 4.5% Operating margin (TTM), FY25 Q3: 4.5% Operating margin (TTM), FY25 Q4: 4.4% Operating margin (TTM), FY26 Q1: 3.6% Operating margin (TTM), FY26 Q2: 3.6% Operating margin (TTM), FY26 Q3: 4.2% 4.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 5.1%
FY24 Q1 4.9%
FY24 Q2 4.6%
FY24 Q3 4.5%
FY24 Q4 4.4%
FY25 Q1 4.4%
FY25 Q2 4.5%
FY25 Q3 4.5%
FY25 Q4 4.4%
FY26 Q1 3.6%
FY26 Q2 3.6%
FY26 Q3 4.2%
FCF margin (TTM) Sanmina Corp
0% 2% 4% 6% 8% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 0.5% FCF margin (TTM), FY24 Q1: 1.6% FCF margin (TTM), FY24 Q2: 2.2% FCF margin (TTM), FY24 Q3: 3.1% FCF margin (TTM), FY24 Q4: 3.0% FCF margin (TTM), FY25 Q1: 2.4% FCF margin (TTM), FY25 Q2: 3.4% FCF margin (TTM), FY25 Q3: 4.5% FCF margin (TTM), FY25 Q4: 5.8% FCF margin (TTM), FY26 Q1: 5.6% FCF margin (TTM), FY26 Q2: 6.5% FCF margin (TTM), FY26 Q3: 4.7% 4.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 0.5%
FY24 Q1 1.6%
FY24 Q2 2.2%
FY24 Q3 3.1%
FY24 Q4 3.0%
FY25 Q1 2.4%
FY25 Q2 3.4%
FY25 Q3 4.5%
FY25 Q4 5.8%
FY26 Q1 5.6%
FY26 Q2 6.5%
FY26 Q3 4.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Oct 2009 2010 Oct 2010 2011 Oct 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Oct 2015 2016 Oct 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 5.2 6.3 6.6 6.1 5.9 6.2 6.4 6.5 6.9 7.1 8.2 7.0 6.7 7.9 8.9 7.6 8.1 12.8
Gross profit 0.3 0.5 0.5 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.6 0.5 0.5 0.6 0.7 0.6 0.7 1.2
EBITDA 0.1 0.3 0.3 0.2 0.3 0.3 0.3 0.3 0.3 0.2 0.4 0.3 0.4 0.5 0.6 0.5 0.5 0.7
Operating income −0.0 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.3 0.2 0.3 0.3 0.5 0.3 0.4 0.5
Net income −0.1 0.1 0.1 0.2 0.1 0.2 0.4 0.2 0.1 −0.1 0.1 0.1 0.2 0.2 0.3 0.2 0.2 0.3
Diluted EPS −$1.67 $1.48 $0.83 $2.16 $0.93 $2.27 $4.41 $2.38 $1.78 −$1.37 $1.97 $1.88 $3.72 $3.81 $5.18 $3.91 $4.46 $5.59
Growth (year on year)
Revenue — +22.0% +4.5% −7.7% −2.9% +5.0% +2.6% +1.7% +6.0% +3.5% +15.8% −15.6% −3.0% +17.5% +12.8% −15.3% +7.4% +58.6%
EBITDA — — +7.5% −25.1% +7.0% +17.2% +2.1% +10.9% +2.5% −31.0% +69.2% −17.3% +9.7% +25.3% +25.2% −20.2% +3.5% +42.6%
Operating income — — +3.5% −35.1% +14.6% +26.7% +1.7% +10.7% +0.7% −47.3% — −23.4% +16.8% +36.5% +30.4% −26.4% +5.7% +45.0%
Net income — — — — −56.0% — +91.3% −50.2% −26.1% −168.8% — — — −3.7% +28.9% −28.2% +10.5% +18.9%
Diluted EPS — — — — −56.9% — +94.3% −46.0% −25.2% −177.0% — — — +2.4% +36.0% −24.5% +14.1% +19.7%
Margins
Gross margin 6.2% 7.6% 7.7% 7.2% 7.2% 7.9% 7.6% 7.9% 7.6% 6.5% 7.2% 7.4% 7.8% 7.9% 8.3% 8.5% 8.8% 9.0%
EBITDA margin 1.6% 4.7% 4.8% 3.9% 4.3% 4.8% 4.8% 5.2% 5.0% 3.4% 4.9% 4.8% 5.4% 5.8% 6.4% 6.1% 5.8% 5.4%
Operating margin −0.1% 3.2% 3.2% 2.3% 2.7% 3.2% 3.2% 3.5% 3.3% 1.7% 3.5% 3.2% 3.8% 4.4% 5.1% 4.4% 4.4% 4.2%
Net margin −2.7% 1.9% 1.0% 3.0% 1.3% 3.2% 5.9% 2.9% 2.0% −1.3% 1.7% 1.9% 3.7% 3.0% 3.5% 2.9% 3.0% 2.4%
Free-cash-flow margin 2.5% −2.5% 1.9% 2.2% 4.1% 3.8% 0.9% 4.2% 2.0% 0.5% 3.0% 3.4% 3.9% 2.4% 0.5% 3.0% 5.8% 4.7%
Cash flow
Cash from operations 0.2 −0.1 0.2 0.2 0.3 0.3 0.2 0.4 0.3 0.2 0.4 0.3 0.3 0.3 0.2 0.3 0.6 0.9
Capital spending 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.3
Free cash flow 0.1 −0.2 0.1 0.1 0.2 0.2 0.1 0.3 0.1 0.0 0.2 0.2 0.3 0.2 0.0 0.2 0.5 0.6
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.1 −0.2 0.1 0.1 0.2 0.2 0.0 0.2 0.1 0.0 0.2 0.2 0.2 0.2 −0.0 0.2 0.4 0.5
Balance sheet
Cash 0.9 0.6 0.6 0.4 0.4 0.5 0.4 0.4 0.4 0.4 0.5 0.5 0.7 0.5 0.7 0.6 0.9 1.8
Total debt 0.0 1.3 1.2 0.9 0.6 0.5 0.5 0.5 0.5 0.6 0.4 0.3 0.3 0.3 0.3 0.3 0.3 2.2
Net debt (negative = net cash) −0.9 0.7 0.6 0.5 0.2 0.1 0.1 0.1 0.1 0.2 −0.1 −0.1 −0.3 −0.2 −0.3 −0.3 −0.6 0.3
Diluted shares 83m 82,477m 83m 83m 85m 87m 86m 79m 78m 70m 72m 71m 67m 63m 60m 57m 55m 55m
Returned to shareholders
Buybacks 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.0 0.2 0.1 0.3 — — — —
Total returned 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.0 0.2 0.1 0.3 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 27, 2026
What it owns · $9.7bn
Short-term assets $7.8bnLonger-term assets $1.9bn
What it owes, and who funded it · $7.2bn
Short-term liabilities $4.4bnShareholders' equity $2.8bn
  • Short-term assets cover short-term liabilities $7.8bn of assets due within a year against $4.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $1.8bn of cash against $2.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 79% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 17% to 79% over five years.
  • A year's operating cash flow covers at least 20% of debt $901m of operating cash flow against $2.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $530m against $95m of interest.

From Sanmina Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
−0.7%
year over year
R&D spending
0.3%
of revenue
Sales & admin spending
3.2%
of revenue

Competitors: side by side with peers

Closest by revenue in electronic manufacturing services
Last 12 months unless stated SANM CLS TEL FLEX FN JBL Median
Revenue, last 12 months $12.8bn $18.2bn $19.3bn $31.0bn $4.6bn $36.0bn $4.3bn
Revenue growth, last 12 months 58.6% 61.6% 16.5% 17.5% 35.7% 20.6% 14.7%
Revenue growth, 3-year average 11.9% — 5.7% 3.3% 20.6% 1.2% 1.2%
Revenue growth, latest quarter 69.7% 82.5% 13.8% 24.8% 44.6% 28.6% 24.8%
Gross margin 9.0% 11.5% 36.1% 9.5% 12.0% 9.2% 10.9%
Operating margin 4.2% 8.3% 19.7% 5.1% 10.0% 4.7% 4.7%
Operating margin, 3-year average 4.4% — 18.4% 4.4% 9.7% 5.2% 4.4%
Net margin 2.4% 6.8% 15.6% 3.4% 10.2% 2.9% 3.1%
Cash from operations / revenue 7.1% 7.7% 22.9% 5.2% 5.5% 5.6% 5.5%
Free-cash-flow margin 4.7% 3.0% 17.2% 2.5% 0.1% 3.8% 2.8%
Free-cash-flow margin, 3-year average 4.1% — 17.7% 3.9% 6.3% 3.7% 4.1%
Stock pay / revenue 0.7% 0.5% 0.9% 0.5% 0.7% 0.4% 0.5%
Change in share count −0.7% 0.8% −1.8% −2.9% −0.0% −3.6% −0.8%

Median of all 12 companies we cover in electronic manufacturing services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

12 electronic manufacturing services companies
Measure Company Peer median Rank
Revenue growth Growth 58.6% 16.5% 2 of 12
Change in growth rate Growth +14.1pp +4.0pp 2 of 12
Gross margin Profitability 9.0% 11.4% 10 of 12
Operating margin Profitability 4.2% 4.7% 8 of 12
Net margin Profitability 2.4% 3.4% 8 of 12
Free-cash-flow margin Cash generation 4.7% 3.0% 3 of 12
Stock pay as % of revenue Cash generation 0.7% 0.6% 7 of 11
Long-term debt as % of assets Balance sheet 20.1% 10.6% 7 of 9
Change in share count Balance sheet -0.7% -0.7% 7 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 27, 2025
Segments
Line of business Revenue Share YoY
IMS Third Party Revenue $6.5B 80.1% ▲ 7.9%
CPS Third Party Revenue $1.6B 19.9% ▲ 5.3%
Geography
Region Revenue Share YoY
Americas $4.7B 57.2% ▲ 17.4%
Asia Pacific $2.6B 32.1% ▲ 2.1%
EMEA $866M 10.7% ▼ 17.3%

From Sanmina Corp's 10-K filed November 13, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$12.7B
Institutions reporting
572
Shares held vs prior quarter
▼ 5.3%
Positions opened / closed
162 / 51

Top buyers and sellers, Q2 2026: 308 institutions bought and 261 sold ; the biggest buyer was Jane Street Group, LLC (+1.4M shares) and the biggest seller Blackrock, Inc (−3.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $2B 8.0M 16.0% ▲ 10.7%
Blackrock, Inc. $1.4B 5.5M 11.0% ▼ 36.0%
Vanguard Portfolio Management LLC $772M 3.1M 6.1% ▼ 24.2%
Vanguard Capital Management LLC $589M 2.3M 4.6% ▼ 1.0%
Invesco Ltd. $548M 2.2M 4.3% ▼ 10.3%
State Street Corp $429M 1.7M 3.4% ▼ 21.5%
Jane Street Group, LLC $385M 1.5M 3.0% ▲ 1040.2%
Dimensional Fund Advisors LP $340M 1.3M 2.7% ▼ 38.4%
Geode Capital Management, LLC $305M 1.2M 2.4% ▼ 21.2%
Advanced Micro Devices Inc $291M 1.2M 2.3% 0.0%
Morgan Stanley $223M 882K 1.8% ▼ 6.6%
D. E. Shaw & Co., Inc. $214M 847K 1.7% ▲ 628.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Sanmina Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $99,722 1 trade by 1 insider, last 12 months Insider sales History → $43M 20 trades by 9 insiders · 11% under pre-set plans
Net ▼ $42.9M net selling
Insider Date Trade Shares Price Value
Johnson Susan A Director September 17, 2026 Sell pre-set plan 120 $200.46 $24,055
Johnson Susan A Director August 28, 2026 Sell pre-set plan 120 $202.69 $24,323
Faust Jonathan P EVP & CFO May 29, 2026 Sell pre-set plan 5,038 $265.73 $1.3M
Faust Jonathan P EVP & CFO May 29, 2026 Sell pre-set plan 5,038 $265.86 $1.3M
Reid Alan Mcwilliams EVP, Global Human Resources May 26, 2026 Sell pre-set plan 5,000 $254.39 $1.3M
Reid Alan Mcwilliams EVP, Global Human Resources May 8, 2026 Sell 1,000 $248.60 $248,600
Sola Jure Chairman & CEO May 6, 2026 Sell 118,368 $228.84 $27.1M
Reid Alan Mcwilliams EVP, Global Human Resources May 4, 2026 Sell 1,000 $225.00 $225,000
Reid Alan Mcwilliams EVP, Global Human Resources May 1, 2026 Sell 1,000 $218.17 $218,170
Hedley David V Iii Director May 1, 2026 Sell 500 $219.52 $109,760
Venkatesh Vishnu See Remarks April 30, 2026 Sell pre-set plan 2,275 $212.80 $484,120
Licata Joseph G Jr Director April 29, 2026 Sell 16,529 $213.26 $3.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Sanmina Corp disclosed in the last 12 months; 1 earlier trade on record.

  • Mo Brooks(R-AL 5):Sale (full), $15,001 - $50,000, traded January 15, 2020, filed January 20, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 26, 2026 estimated from the company's past filing pattern, not announced

  • July 27, 2026
  • April 27, 2026
  • January 26, 2026
  • November 3, 2025
  • July 28, 2025
  • April 28, 2025

Recent SEC filings

Data status

When each part of this page on Sanmina Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Sanmina Corp in brief

What does Sanmina Corp do?
Sanmina Corp is a US-listed company in the electronic manufacturing services industry. Its financial year ends in September.
What is Sanmina Corp's stock ticker?
Sanmina Corp trades under the ticker SANM on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Sanmina Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Sanmina Corp reported revenue of $12.8B, 58.6% higher than a year earlier, according to its SEC filings.
What is Sanmina Corp's free cash flow?
Sanmina Corp's free-cash-flow margin is 4.7% of revenue over the trailing twelve months, ranking 3 of the 12 electronic manufacturing services companies we cover.
What is Sanmina Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Sanmina Corp's free cash flow after stock-based pay gives ~$300 per share in the base case, and ~$230–$400 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Sanmina Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Sanmina Corp's market cap?
On November 2, 2026, Sanmina Corp's market capitalisation was about $8.8B, with a price-to-earnings ratio of 28.5 and net debt of $327M. Market figures come from third-party market data and may be delayed.
How much debt does Sanmina Corp have?
Sanmina Corp's debt-to-equity ratio is 78.7%, from its latest balance sheet (16.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Sanmina Corp's competitors?
In our Electronic Manufacturing Services peer group, the companies closest to Sanmina Corp are Celestica Inc, TE Connectivity, Flex Ltd., Fabrinet and Jabil. The side-by-side comparison below sets their revenue, margins and growth against Sanmina Corp's.
Are insiders buying or selling Sanmina Corp stock?
Over the last 12 months, Sanmina Corp's directors and officers reported 1 open-market purchases and 20 sales on Form 4. The insider trading page charts every trade.
When is Sanmina Corp's next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Sanmina Corp announces its own schedule.