Sanmina Corporation (SANM) Stock

Sanmina Corporation (SANM) is a Technology stock trading at $190.74 (as of 2026-08-20), with a market capitalization of $10.22B and a trailing P/E of 33.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Sanmina Corporation provides manufacturing solutions and related services worldwide through two segments: Integrated Manufacturing Solutions and Components, Products and Services. Its offerings span product design and engineering, assembly and test, logistics and supply chain management, after-market support, and manufacturing of components, subassemblies, and complete systems for original equipment manufacturers.

Understand Sanmina Corporation: how it makes money

Sanmina delivers integrated manufacturing and after-market services for electronics products, earning money primarily through Integrated Manufacturing Solutions (design, manufacturing, assembly and test, logistics, and supply chain management) and through Components, Products and Services.

Sanmina converts customer demand into manufactured and fulfilled electronics offerings through its Integrated Manufacturing Solutions and Components, Products and Services businesses, so results are structurally driven by order flow and execution reflected in metrics like Book-to-Bill Ratio, and by how inventory levels are managed (for example, Ending Inventory and Inventory Net of Customer Advances).

Revenue by segment (latest quarter)
IMS$3.6B
CPS$0.5B

Business quality (Mixed): Sanmina has two clear revenue businesses, Integrated Manufacturing Solutions and Components, Products and Services, and the provided operating metrics emphasize order momentum (Book-to-Bill Ratio) and working-capital management (inventory and customer advances), but margins remain relatively low and the facts also point to customer concentration and material shortage impacts.

Valuation: At 50× earnings, SANM trades in line with the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • Order momentum present: The Book-to-Bill Ratio is 1.1, indicating more orders than the current level of billings based on the ratio provided.
  • Large share from integrated manufacturing: Integrated Manufacturing Services Revenue is 3.58B versus 0.45B for Components, Products and Services, suggesting diversification within the integrated manufacturing execution model.
  • Working-capital efficiency tracked: Inventory Net of Customer Advances is 1.2, and Inventory Turns Net of Customer Advances is 5.3, which indicates the company discloses inventory efficiency and customer-advance impacts.

Bear case

  • Customer concentration: Top Ten Customers Percentage of Revenue is 52.8 percent, which increases sensitivity to changes in a small set of customers.
  • Material shortage impact exists: Revenue Impact from Material Shortages is 0.15B, indicating supply constraints have affected revenue.
  • Inventory levels may be a swing factor: Ending Inventory is 1.33B, so changes in inventory could affect cash flow and near-term execution if demand or fulfillment shifts.
  • Lower profitability profile: Gross margin is 8.8 percent and operating margin is 3.9 percent (both companywide), leaving less room for execution or cost missteps.
Valuation — source: SEC EDGAR (first-party)
Price$190.74
Market Cap$10.22B
P/E Ratio33.2
EV / EBITDA15.1
Price / Book3.70
Price / Sales0.80
FCF Yield5.8%
DCF Value (model)$89.75
DCF Upside vs Price-52.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$8.13B
Net Margin3.0%
Revenue Growth (YoY)69.7%
EPS Growth (YoY)69.5%
FCF Growth (YoY)-85.6%
Financial Health — source: SEC EDGAR
Altman Z-Score3.30 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Stock P/E33.2
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
vs Sector-2.2%
vs Industry-15.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($1.11B)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryElectronic Equipment
CEOJure Sola
Employees32,000
CountryUS
IPO Date1993-04-14

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SANM earnings history · SANM institutional & insider holders · SANM KPIs & operating metrics · SANM financials · SANM investor presentations & press releases · SANM SEC filings · SANM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.