Sanmina Corporation (SANM) Stock Analysis
Technology · Electronic Components · NasdaqGS
Sanmina Corporation (SANM) posted $8.13B in revenue for fiscal 2025 (up 7.4% year over year), at a 3.0% net margin, and has compounded revenue about 3.2%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Sanmina Corporation
Sanmina Corporation has grown revenue from $6.48B to $8.13B over the last 10 fiscal years, compounding about 3.2% a year. The most recent year was up 7.4%, so growth is actually accelerating.
Net margin sits at 3% on a 8.8% gross margin. It carries about $317.97M of total debt.
At today's valuation the market is pricing in roughly 11.4% annual free-cash-flow growth — versus the 15.1% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is inventory building faster than sales.
Synthesised from Sanmina Corporation's SEC filings — descriptive, not advice. Ask the analyst your own question →
Sanmina Corporation revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.48B | $6.87B | $7.11B | $8.23B | $6.95B | $6.74B | $7.89B | $8.94B | $7.57B | $8.13B |
| Gross profit | $514.28M | $519.91M | $463.78M | $591.94M | $517.16M | $526.44M | $622.21M | $743.21M | $640.43M | $716.36M |
| Net income | $187.84M | $138.83M | $-95.53M | $141.51M | $133.17M | $249.55M | $256.12M | $309.97M | $222.54M | $245.89M |
| Net margin | 2.9% | 2.0% | -1.3% | 1.7% | 1.9% | 3.7% | 3.2% | 3.5% | 2.9% | 3.0% |
Source: Sanmina Corporation SEC filings (10-K). 17 years of history available in the interactive view.
Sanmina Corporation: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Inventory building faster than salesInventory rose 37.7% versus revenue 7.4% — possible overproduction or softening demand.
What growth is priced into SANM stock?
At today's market cap of $12.39B, Sanmina Corporation is priced for free-cash-flow growth of about 11.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $473.30M from the FY ending 2025-09-30). For comparison, free cash flow actually grew 15.1%/yr over the last five fiscal years and revenue 3.2%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of Sanmina Corporation financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Sanmina Corporation financial history by metric
Compare Sanmina Corporation with peers
About Sanmina Corporation
Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company operates through two businesses: Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engaging in the manufacture of components, subassemblies, and complete systems; and direct order fulfilment and logistics services. In addition, the company provides components, such as printed circuit boards, backplane fabrication and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts, and plastic injected molded parts; memory solutions; storage platforms; optical, radio frequency, and microelectronic solutions; defense and aerospace products, design, manufacturing, repair, and refurbishment services; and cloud-based manufacturing execution software. It offers its products and services primarily to original equipment manufacturers in the industrial, medical, defense and aerospace, automotive, communications networks, and cloud infrastructure industries. The company was formerly known as Sanmina-SCI Corp. Sanmina Corporation was incorporated in 1980 and is headquartered in San Jose, California.
Sanmina Corporation — frequently asked questions
What is Sanmina Corporation's revenue?
Sanmina Corporation (SANM) reported revenue of $8.13B for fiscal year 2025, up 7.4% from the prior year, according to its SEC filings.
Is Sanmina Corporation profitable?
Yes. SANM earned net income of $245.89M in fiscal 2025, a net margin of 3.0%.
What is SANM's P/E ratio?
Sanmina Corporation trades at a price-to-earnings ratio of about 48.9 based on the latest data in our nightly-refreshed cache.
How fast is Sanmina Corporation growing?
SANM's revenue grew at roughly 3.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Sanmina Corporation have?
As of fiscal year 2025, SANM carried roughly $317.97M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Sanmina Corporation's gross margin?
SANM's gross margin was 8.8% in fiscal 2025 — gross profit of $716.36M on revenue of $8.13B.
What is Sanmina Corporation's market cap?
Sanmina Corporation (SANM) has a market capitalization of about $12.39B, based on the latest data in our nightly-refreshed cache.
When does Sanmina Corporation's fiscal year end?
SANM's fiscal year ends in September. Its most recent annual filing covers the fiscal year ending 2025-09-30.
What growth is priced into SANM stock?
At today's market cap of $12.39B, Sanmina Corporation is priced for free-cash-flow growth of about 11.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $473.30M from the FY ending 2025-09-30). For comparison, free cash flow actually grew 15.1%/yr over the last five fiscal years and revenue 3.2%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Sanmina Corporation's official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.