SANM

MKT CAP:$11B

Sanmina Corporation

Market Cap

$11B

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NASDAQ

Technology·Hardware,·🇺🇸·NASDAQ

Stock Price

$174.06+$14.77 (+9.27%)

Apr 21, 2026

Company Details

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products an...

CEO

Jure Sola

IPO Date

Apr 14, 1993

Website

www.sanmina.com

Key Metrics TTM

Revenue

$8.4B

+20.8% YoY

Net Income

$286M

EPS (Diluted)

$4.76

Free Cash Flow

$166M

Revenue / Share

$148.53

Gross Margin

8.2%

Operating Margin

4.9%

Net Margin

3.4%

FCF Margin

2.0%

P/S

1.2x

P/E

36.8x

Earnings Reports

Q4 2024

Apr 27, 2026

PENDING

Q3 2024

Jul 31, 2024

$1.8BEPS $0.91

Q1 2023

May 19, 2023

$2.4B+34.1%EPS $1.48

FY 2022

Nov 10, 2022

$7.9BEPS $4.06

Q4 2022

May 19, 2023

$2.2B+34.0%EPS $1.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 19	$2.0B	$148M	$67M
Q4 19	$1.9B	$142M	$63M
Q1 20	$1.8B	$135M	$57M
Q2 20	$1.6B	$107M	$24M
Q3 20	$1.7B	$131M	$64M
Q4 20	$1.9B	$152M	$82M
Q1 21	$1.8B	$141M	$76M
Q2 21	$1.7B	$143M	$65M
Q3 21	$1.7B	$137M	$74M
Q4 21	$1.6B	$131M	$67M
Q1 22	$1.8B	$141M	$78M
Q2 22	$1.9B	$146M	$76M
Q3 22	$2.0B	$162M	$92M
Q4 22	$2.2B	$178M	$110M
Q1 23	$2.4B	$195M	$128M
Q3 24	$1.8B	$154M	$82M

Valuation

Quarter	P/S	P/E
Q3 19	1.3x	85.8x
Q4 19	1.3x	74.3x
Q1 20	1.3x	74.1x
Q2 20	1.4x	99.2x
Q3 20	1.5x	97.4x
Q4 20	1.5x	75.2x
Q1 21	1.5x	70.3x
Q2 21	1.5x	54.9x
Q3 21	1.5x	39.8x
Q4 21	1.6x	39.1x
Q1 22	1.6x	37.9x
Q2 22	1.5x	37.7x
Q3 22	1.4x	44.0x
Q4 22	1.3x	42.6x
Q1 23	1.2x	37.2x
Q3 24	1.2x	36.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	$165M	$136M
Q4 19	$190M	$158M
Q1 20	$21M	-$7M
Q2 20	$136M	$119M
Q3 20	$64M	$54M
Q4 20	$80M	$69M
Q1 21	$62M	$50M
Q2 21	$81M	$67M
Q3 21	$104M	$87M
Q4 21	$92M	$61M
Q1 22	$68M	$43M
Q2 22	$79M	$52M
Q3 22	$102M	$64M
Q4 22	$82M	$34M
Q1 23	$37M	$694.0K
Q3 24	$90M	$67M

Capital Expenditures

Quarter	CapEx
Q3 19	$29M
Q4 19	$33M
Q1 20	$28M
Q2 20	$16M
Q3 20	$10M
Q4 20	$11M
Q1 21	$11M
Q2 21	$14M
Q3 21	$17M
Q4 21	$31M
Q1 22	$25M
Q2 22	$27M
Q3 22	$38M
Q4 22	$48M
Q1 23	$37M
Q3 24	$23M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 19	+11.8%	+10.9%
Q4 19	+0.8%	-2.0%
Q1 20	-15.9%	-15.5%
Q2 20	-25.2%	-23.5%
Q3 20	-18.4%	-18.8%
Q4 20	-0.9%	-2.0%
Q1 21	-4.6%	-5.8%
Q2 21	+6.9%	+4.4%
Q3 21	+0.2%	-0.4%
Q4 21	-12.3%	-12.0%
Q1 22	+0.1%	-0.1%
Q2 22	+12.7%	+12.5%
Q3 22	+22.1%	+22.0%
Q4 22	+34.0%	+32.7%
Q1 23	+34.1%	+32.7%
Q3 24	-3.8%	-4.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$8M	0.4%
Q4 19	$10M	0.5%
Q1 20	$7M	0.4%
Q2 20	$8M	0.5%
Q3 20	$7M	0.4%
Q4 20	$4M	0.2%
Q1 21	$8M	0.5%
Q2 21	$9M	0.5%
Q3 21	$9M	0.5%
Q4 21	$9M	0.5%
Q1 22	$9M	0.5%
Q2 22	$9M	0.5%
Q3 22	$11M	0.5%
Q4 22	$11M	0.5%
Q1 23	$12M	0.5%
Q3 24	$15M	0.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 19	$7M	$67M
Q4 19	$6M	$66M
Q1 20	$5M	$63M
Q2 20	$6M	$62M
Q3 20	$5M	$59M
Q4 20	$6M	$56M
Q1 21	$5M	$59M
Q2 21	$5M	$61M
Q3 21	$5M	$57M
Q4 21	$5M	$57M
Q1 22	$5M	$61M
Q2 22	$5M	$62M
Q3 22	$5M	$62M
Q4 22	$6M	$60M
Q1 23	$6M	$61M
Q3 24	$8M	$62M

Revenue Segments

Quarter	Ims	Other Segments	CPS Third Party Revenue
Q3 19	$1.7B	$362M	—
Q1 20	$1.5B	$336M	—
Q2 20	$1.3B	$327M	—
Q3 20	$1.3B	$337M	—
Q1 21	$1.5B	—	$299M
Q2 21	$1.4B	—	$339M
Q3 21	$1.3B	—	$320M
Q1 22	$1.4B	—	$340M
Q2 22	$1.5B	—	$366M
Q3 22	$1.6B	—	$406M
Q1 23	$1.9B	—	$434M
Q3 24	$1.5B	—	$388M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q3 19	$1.0B	$750M	$274M
Q1 20	$907M	$673M	$261M
Q2 20	$817M	$517M	$257M
Q3 20	$815M	$633M	$207M
Q1 21	$832M	$664M	$259M
Q2 21	$804M	$624M	$272M
Q3 21	$774M	$606M	$277M
Q1 22	$797M	$691M	$269M
Q2 22	$899M	$714M	$299M
Q3 22	$985M	$739M	$295M
Q1 23	$1.1B	$914M	$306M
Q3 24	$966M	$639M	$236M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$560M	$0	$560M
Q3 22	$493M	$0	$493M
Q4 22	$530M	$0	$530M
Q1 23	$735M	$0	$735M
Q2 23	$718M	$0	$718M
Q3 23	$657M	$0	$657M
Q4 23	$668M	$0	$668M
Q1 24	$632M	$0	$632M
Q2 24	$651M	$0	$651M
Q3 24	$658M	$0	$658M
Q4 24	$626M	$0	$626M
Q1 25	$642M	$0	$642M
Q2 25	$687M	$0	$687M
Q3 25	$838M	$0	$838M
Q4 25	$966M	$0	$966M
Q1 26	$1.5B	$0	$1.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 19	72M	+0.8%	-0.1%
Q4 19	72M	+0.4%	+1.1%
Q1 20	73M	+0.4%	+2.4%
Q2 20	72M	-0.5%	+1.1%
Q3 20	70M	-3.6%	-3.3%
Q4 20	69M	-1.2%	-4.8%
Q1 21	67M	-2.9%	-8.0%
Q2 21	67M	+0.2%	-7.3%
Q3 21	67M	+0.6%	-3.3%
Q4 21	67M	-0.3%	-2.4%
Q1 22	66M	-1.4%	-0.9%
Q2 22	64M	-3.0%	-4.0%
Q3 22	62M	-4.0%	-8.4%
Q4 22	60M	-3.0%	-10.9%
Q1 23	60M	+0.0%	-9.6%
Q3 24	57M	-5.3%	-11.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 19	$43.1K	47K
Q4 19	$44.0K	43K
Q1 20	$42.8K	43K
Q2 20	$37.0K	43K
Q3 20	$38.5K	43K
Q4 20	$43.6K	43K
Q1 21	$47.4K	37K
Q2 21	$45.9K	37K
Q3 21	$44.8K	37K
Q4 21	$44.4K	37K
Q1 22	$50.2K	35K
Q2 22	$54.7K	35K
Q3 22	$57.8K	35K
Q4 22	$62.9K	35K
Q1 23	$69.3K	34K
Q3 24	$54.2K	34K

Revenue / Employee