📊 SANM Key Takeaways
Is Sanmina Corp. (SANM) a Good Investment?
Sanmina demonstrates solid financial stability with strong free cash flow generation ($433.9M) and manageable debt (13.9x interest coverage), but deteriorating profitability is concerning—net income declined 7.6% YoY despite 7.4% revenue growth, indicating margin compression. Extremely thin margins (8.3% gross, 2.0% net) and poor capital efficiency (5.5% ROE, 1.5% ROA) suggest structural challenges in the competitive PCB industry.
Sanmina Corp. Key Strengths (SANM)
- Strong free cash flow generation of $433.9M with 6.0% FCF margin, demonstrating effective cash conversion
- Solid liquidity position: 1.71x current ratio and $1.6B cash reserves provide financial flexibility
- Robust debt servicing capacity with 13.9x interest coverage ratio, mitigating refinancing risk
- 7.4% revenue growth indicates maintained market demand despite industry challenges
- Manageable leverage at 0.83x debt/equity ratio
SANM Stock Risks: Sanmina Corp. Investment Risks
- Net income declining 7.6% YoY despite revenue growth signals margin compression and operational inefficiency
- Critically low profitability margins (2.0% net, 3.2% operating, 8.3% gross) leave minimal error tolerance and limit earnings power
- Poor capital returns with ROE of 5.5% and ROA of 1.5% indicate capital is not being deployed efficiently
- Long-term debt of $2.2B represents 85% of stockholders equity, limiting financial flexibility for strategic investments
- Commodity-like nature of PCB industry with likely persistent pricing pressure on margins
Key Metrics to Watch
- Gross margin trend—critical to assess whether pricing power recovers or cost pressures persist
- Net income and operating margins in subsequent quarters—need to confirm whether compression stabilizes or worsens
- Free cash flow sustainability—monitor if FCF generation can be maintained amid profitability challenges
- Debt levels relative to EBITDA—ensure leverage does not rise as profitability stagnates
- Return on equity trajectory—track whether capital efficiency improves or continues declining
Sanmina Corp. (SANM) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Sanmina Corp. presents a mixed fundamental picture. Review the detailed metrics above to form your own investment thesis.
SANM Profit Margin, ROE & Profitability Analysis
SANM vs Market Sector: How Sanmina Corp. Compares
How Sanmina Corp. compares to Market sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Sanmina Corp. Stock Overvalued? SANM Valuation Analysis 2026
Based on fundamental analysis, Sanmina Corp. shows some fundamental concerns relative to the Market sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Sanmina Corp. Balance Sheet: SANM Debt, Cash & Liquidity
SANM Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Sanmina Corp.'s revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $5.18 reflects profitable operations.
SANM Revenue Growth, EPS Growth & YoY Performance
SANM Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $2.0B | $64.2M | $1.16 |
| Q1 2026 | $2.0B | $49.3M | $0.89 |
| Q3 2025 | $1.8B | $51.6M | $0.91 |
| Q2 2025 | $1.8B | $52.5M | $0.93 |
| Q1 2025 | $1.9B | $57.1M | $0.98 |
| Q3 2024 | $1.8B | $51.6M | $0.91 |
| Q2 2024 | $1.8B | $52.5M | $0.93 |
| Q1 2024 | $1.9B | $57.1M | $0.98 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Sanmina Corp. Dividends, Buybacks & Capital Allocation
SANM SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Sanmina Corp. (CIK: 0000897723)
📋 Recent SEC Filings
❓ Frequently Asked Questions about SANM
What is the AI rating for SANM?
Sanmina Corp. (SANM) has an AI grade of B with 78% confidence, based on fundamental analysis of SEC EDGAR filings.
What are SANM's key strengths?
Claude: Strong free cash flow generation of $433.9M with 6.0% FCF margin, demonstrating effective cash conversion. Solid liquidity position: 1.71x current ratio and $1.6B cash reserves provide financial flexibility.
What are the risks of investing in SANM?
Claude: Net income declining 7.6% YoY despite revenue growth signals margin compression and operational inefficiency. Critically low profitability margins (2.0% net, 3.2% operating, 8.3% gross) leave minimal error tolerance and limit earnings power.
What is SANM's revenue and growth?
Sanmina Corp. reported revenue of $7.2B.
Does SANM pay dividends?
Sanmina Corp. does not currently pay dividends.
Where can I find SANM SEC filings?
Official SEC filings for Sanmina Corp. (CIK: 0000897723) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is SANM's EPS?
Sanmina Corp. has a diluted EPS of $2.58.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is SANM's fundamental grade?
Based on our AI fundamental analysis in May 2026, Sanmina Corp. has a B grade with 78% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is SANM stock overvalued or undervalued?
Valuation metrics for SANM: ROE of 5.5% (sector avg: 15%), net margin of 2.0% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is SANM's AI grade for 2026?
Our dual AI analysis gives Sanmina Corp. a combined B grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is SANM's free cash flow?
Sanmina Corp.'s operating cash flow is $577.5M, with capital expenditures of $143.6M. FCF margin is 6.0%.
How does SANM compare to other Market stocks?
Vs Default sector averages: Net margin 2.0% (avg: 12%), ROE 5.5% (avg: 15%), current ratio 1.71 (avg: 1.8).