Sanmina (SANM) | Financial Analysis & Statements
Sanmina Corporation Large-cap Technology
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Sep 2025Income Metrics
Revenue
2.1B
Gross Profit
191.2M
9.12%
Operating Income
109.0M
5.20%
Net Income
52.0M
2.48%
EPS (Diluted)
$0.88
Balance Sheet Metrics
Total Assets
5.9B
Total Liabilities
3.3B
Shareholders Equity
2.5B
Debt to Equity
1.31
Cash Flow Metrics
Operating Cash Flow
125.8M
Free Cash Flow
136.6M
Revenue & Profitability Trend
Quarter Income Flow
Sep 30, 2025
Annual Income Flow
2025
Sanmina Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 8.1B | 7.6B | 8.9B | 7.9B | 6.7B |
| Cost of Goods Sold | 7.4B | 6.9B | 8.2B | 7.3B | 6.2B |
| Gross Profit | 716.4M | 640.4M | 743.2M | 622.2M | 526.4M |
| Gross Margin % | 8.8% | 8.5% | 8.3% | 7.9% | 7.8% |
| Operating Expenses | |||||
| Research & Development | 31.1M | 28.5M | 26.4M | 21.3M | 20.9M |
| Selling, General & Administrative | 290.2M | 266.2M | 255.1M | 244.6M | 234.5M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 321.3M | 294.7M | 281.5M | 265.9M | 255.4M |
| Operating Income | 395.0M | 345.7M | 461.7M | 356.3M | 271.0M |
| Operating Margin % | 4.9% | 4.6% | 5.2% | 4.5% | 4.0% |
| Non-Operating Items | |||||
| Interest Income | 15.9M | 12.4M | 13.6M | 1.6M | 925.0K |
| Interest Expense | 20.2M | 29.2M | 36.3M | 22.5M | 19.6M |
| Other Non-Operating Income | -51.3M | -11.4M | -26.2M | -33.1M | 29.3M |
| Pre-tax Income | 339.4M | 317.5M | 412.8M | 302.3M | 281.6M |
| Income Tax | 73.2M | 79.8M | 85.3M | 61.9M | 32.1M |
| Effective Tax Rate % | 21.6% | 25.1% | 20.7% | 20.5% | 11.4% |
| Net Income | 266.3M | 237.8M | 327.5M | 240.4M | 249.5M |
| Net Margin % | 3.3% | 3.1% | 3.7% | 3.0% | 3.7% |
| Key Metrics | |||||
| EBITDA | 519.5M | 479.4M | 573.4M | 440.4M | 425.9M |
| EPS (Basic) | $4.56 | $4.00 | $5.36 | $4.18 | $4.12 |
| EPS (Diluted) | $4.46 | $3.91 | $5.18 | $4.06 | $4.01 |
| Basic Shares Outstanding | 53947000 | 55592000 | 57847000 | 61310000 | 67329000 |
| Diluted Shares Outstanding | 53947000 | 55592000 | 57847000 | 61310000 | 67329000 |
Income Statement Trend
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Sanmina Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 926.3M | 625.9M | 667.6M | 529.9M | 650.0M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 1.4B | 1.3B | 1.2B | 1.1B | 1.2B |
| Inventory | 2.0B | 1.4B | 1.5B | 1.7B | 1.0B |
| Other Current Assets | 124.7M | 79.3M | 58.2M | 62.0M | 54.0M |
| Total Current Assets | 4.9B | 3.9B | 3.9B | 3.9B | 3.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 310.4M | 336.3M | 361.6M | 369.7M | 399.2M |
| Total Non-Current Assets | 992.7M | 952.4M | 994.4M | 944.9M | 932.2M |
| Total Assets | 5.9B | 4.8B | 4.9B | 4.8B | 4.2B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 1.6B | 1.4B | 1.6B | 2.0B | 1.5B |
| Short-term Debt | 17.5M | 17.5M | 25.9M | 17.5M | 18.8M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 2.8B | 1.9B | 2.0B | 2.5B | 1.8B |
| Non-Current Liabilities | |||||
| Long-term Debt | 283.0M | 299.8M | 312.3M | 329.2M | 311.6M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 214.0M | 220.8M | 209.7M | 215.3M | 253.5M |
| Total Non-Current Liabilities | 497.0M | 520.7M | 522.0M | 544.6M | 565.1M |
| Total Liabilities | 3.3B | 2.5B | 2.6B | 3.0B | 2.4B |
| Equity | |||||
| Common Stock | 534.0K | 539.0K | 568.0K | 574.0K | 643.0K |
| Retained Earnings | -2.5B | -2.7B | -2.9B | -3.2B | -3.5B |
| Treasury Stock | 1.9B | 1.7B | 1.5B | 1.4B | 1.0B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 2.5B | 2.4B | 2.3B | 1.8B | 1.9B |
| Key Metrics | |||||
| Total Debt | 300.5M | 317.3M | 338.3M | 346.7M | 330.3M |
| Working Capital | 2.0B | 1.9B | 1.8B | 1.4B | 1.5B |
Balance Sheet Composition
Sanmina Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 266.3M | 237.8M | 327.5M | 240.4M | 249.5M |
| Depreciation & Amortization | 119.5M | 122.4M | 118.2M | 108.8M | 109.7M |
| Stock-Based Compensation | 63.4M | 57.4M | 50.4M | 39.6M | 35.0M |
| Working Capital Changes | 113.6M | -118.6M | -267.5M | -238.2M | -4.8M |
| Operating Cash Flow | 545.2M | 328.3M | 259.2M | 188.6M | 416.4M |
| Investing Activities | |||||
| Capital Expenditures | -142.5M | -109.2M | -190.0M | -130.2M | -72.2M |
| Acquisitions | - | - | 0 | 0 | -21.4M |
| Investment Purchases | -15.0M | -5.2M | -2.5M | -2.0M | -2.7M |
| Investment Sales | 49.3M | - | - | 0 | 0 |
| Investing Cash Flow | -108.2M | -114.4M | -192.5M | -132.2M | -96.3M |
| Financing Activities | |||||
| Share Repurchases | -113.8M | -254.3M | -107.1M | -331.1M | -64.1M |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | 0 | 0 | 346.7M | 0 |
| Debt Repayment | -580.2M | -2.1B | -3.0B | -2.2B | -418.4M |
| Financing Cash Flow | -736.5M | -2.4B | -2.9B | -2.2B | -476.9M |
| Free Cash Flow | 473.3M | 229.0M | 43.8M | 192.2M | 265.0M |
| Net Change in Cash | -299.5M | -2.2B | -2.8B | -2.1B | -156.8M |
Cash Flow Trend
Sanmina Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
45.86
Forward P/E
15.80
Price to Book
4.22
Price to Sales
1.13
PEG Ratio
-1.90
Profitability Ratios
Profit Margin
2.47%
Operating Margin
3.69%
Return on Equity
9.73%
Return on Assets
3.62%
Financial Health
Current Ratio
1.70
Debt to Equity
88.62
Beta
1.05
Per Share Data
EPS (TTM)
$4.19
Book Value per Share
$45.55
Revenue per Share
$172.65
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| SANM | 10.5B | 45.86 | 4.22 | 9.73% | 2.47% | 88.62 |
| Amphenol | 184.1B | 45.23 | 13.78 | 36.85% | 18.49% | 118.94 |
| Corning | 145.6B | 89.92 | 12.01 | 14.90% | 10.21% | 76.19 |
| TE Connectivity | 63.9B | 22.22 | 4.92 | 22.72% | 15.54% | 42.26 |
| Celestica | 45.1B | 56.21 | 20.90 | 40.49% | 6.72% | 41.44 |
| Jabil | 35.7B | 45.56 | 26.65 | 59.70% | 2.48% | 328.91 |
Financial data is updated regularly. All figures are in the company's reporting currency.






