Sanmina Corp Stock Research

Market Summary

USD58.17+1.00

Market Closed

1.75%

SANM Alerts

Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

SANM Stock Price

SANM RSI Chart

SANM Valuation

Market Cap

3.4B

Price/Earnings (Trailing)

11.75

Price/Sales (Trailing)

0.4

EV/EBITDA

5.36

Price/Free Cashflow

22.47

SANM Price/Sales (Trailing)

SANM Profitability

EBT Margin

4.16%

Return on Equity

13.15%

Return on Assets

5.39%

Free Cashflow Yield

4.45%

SANM Fundamentals

SANM Revenue

Revenue (TTM)

8.5B

Revenue Y/Y

34.37%

Revenue Q/Q

7.21%

SANM Earnings

Earnings (TTM)

285.9M

Earnings Y/Y

50.76%

Earnings Q/Q

36.58%

Price Action

52 Week Range

36.3569.28

(Low)(High)

Last 7 days

-1.2%

Last 30 days

-6.5%

Last 90 days

-2.0%

Trailing 12 Months

37.2%

SANM Financial Health

Current Ratio

1.68

SANM Investor Care

Buy Backs (1Y)

10.36%

Diluted EPS (TTM)

4.68

Peers (Alternatives to Sanmina)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
APH	46.6B	12.6B	1.84%	4.56%	24.48	3.69	16.06%	19.58%
KEYS	33.7B	5.4B	-1.89%	-1.50%	30.02	6.23	9.69%	25.73%
GLW	28.2B	14.2B	-4.56%	-12.29%	21.43	1.99	0.76%	-30.95%
ZBRA	14.9B	5.8B	-5.29%	-32.44%	30.01	2.57	2.74%	-44.68%
JBL	11.1B	34.5B	1.15%	34.23%	11.39	0.32	15.08%	32.70%
MID-CAP
DLB	8.0B	1.2B	0.58%	9.22%	43.62	6.47	-0.48%	-28.07%
IPGP	5.5B	1.4B	-7.06%	1.26%	50.38	3.87	-2.14%	-60.52%
SANM	3.4B	8.5B	-6.52%	37.16%	11.75	0.4	25.68%	2.24%
VSH	3.1B	3.5B	2.56%	6.38%	7.26	0.89	7.93%	43.91%
PLXS	2.6B	4.1B	-2.85%	13.90%	16.75	0.64	21.81%	24.48%
SMALL-CAP
OSIS	1.7B	1.2B	5.97%	19.01%	16.08	1.41	1.62%	24.63%
CTS	1.4B	586.9M	2.30%	26.78%	24.06	2.44	14.42%	242.30%
NSSC	1.4B	160.9M	18.68%	75.37%	54.91	8.75	25.62%	37.31%
BHE	804.2M	2.9B	-6.90%	-9.54%	11.79	0.28	27.98%	90.74%
LASR	430.3M	242.1M	-25.84%	-46.63%	-7.88	1.78	-10.40%	-83.96%

Financials for Sanmina

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	7.7%	8,495	7,890	7,332	6,971	6,759
Gross Profit	7.2%	687	641	593	564	555
Operating Expenses	1.4%	277	273	268	260	268
S&GA Expenses	-0.3%	244	245	242	238	237
R&D Expenses	3.9%	22.00	21.00	21.00	21.00	21.00
EBITDA	8.2%	489	452	436	453	-
EBITDA Margin	0.5%	0.06*	0.06*	0.06*	0.06*	-
Earnings Before Taxes	10.1%	353	321	306	323	313
EBT Margin	2.3%	0.04*	0.04*	0.04*	0.05*	-
Interest Expenses	16.9%	26.00	22.00	20.00	19.00	19.00
Net Income	11.6%	286	256	248	286	280
Net Income Margin	3.7%	0.03*	0.03*	0.03*	0.04*	-
Free Cahsflow	-22.2%	149	192	220	242	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	9.2%	5,307	4,860	4,744	4,650	4,502
Current Assets	10.9%	4,355	3,926	3,836	3,747	3,592
Cash Equivalents	38.8%	735	530	493	560	628
Inventory	2.2%	1,728	1,691	1,591	1,438	1,242
Net PPE	2.8%	591	575	546	525	525
Current Liabilities	5.4%	2,585	2,454	2,432	2,268	2,065
LT Debt, Non Current	-1.3%	325	329	298	303	307
Shareholder's Equity	16.8%	2,174	1,861	1,804	1,838	1,881
Retained Earnings	-	-3,198	-	-	-	-
Additional Paid-In Capital	-	6,381	-	-	-	-
Shares Outstanding	0.6%	58.00	57.00	60.00	63.00	64.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-9.4%	300	331	341	343	345
Share Based Compensation	6.5%	42.00	40.00	38.00	36.00	36.00
Cashflow From Investing	-15.1%	-152	-132	-114	-111	-97.50
Cashflow From Financing	87.8%	-38.25	-314	-353	-245	-133
Buy Backs	-18.4%	270	331	339	231	120

Risks for SANM

What is the probability of a big loss on SANM?

58.5%

Probability that Sanmina stock will be more than 20% underwater in next one year

33.5%

Probability that Sanmina stock will be more than 30% underwater in next one year.

Probability that Sanmina stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SANM drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Sanmina was unfortunately bought at previous high price.

Drawdowns

Returns for SANM

Cumulative Returns on SANM

17.5%

10-Year Cumulative Returns

14.2%

7-Year Cumulative Returns

17.0%

5-Year Cumulative Returns

32.4%

3-Year Cumulative Returns

What are the long-term rolling returns for SANM?

FIve years rolling returns for Sanmina.

Annualized Returns

Which funds bought or sold SANM recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	unchanged	-	335,997	1,717,150	0.01%
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	281,555	281,555	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-22.64	-945,653	23,852,300	0.03%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-29.22	-2,000	17,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-3.05	243,125	1,428,120	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-15.86	45,000	1,016,000	0.01%
2023-02-21	Ruedi Wealth Management, Inc.	new	-	6,760	6,760	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-11.73	213,000	3,036,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	reduced	-52.1	-24,080	35,920	-%
2023-02-17	Coppell Advisory Solutions Corp.	new	-	2,578	2,578	-%

Latest Funds Activity

Are funds buying SANM calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SANM

No. of Funds

Sanmina News

Schedule 13G FIlings of Sanmina

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.45%	6,576,813	SC 13G/A
Jan 23, 2023	blackrock inc.	17.9%	10,259,025	SC 13G/A
Feb 11, 2022	earnest partners llc	6.0%	3,843,812	SC 13G/A
Feb 10, 2022	vanguard group inc	10.78%	6,937,717	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	7.2%	4,607,977	SC 13G/A
Jan 27, 2022	blackrock inc.	15.8%	10,179,962	SC 13G/A
Jan 26, 2022	blackrock inc.	15.8%	10,179,962	SC 13G
Feb 16, 2021	dimensional fund advisors lp	7.6%	4,974,207	SC 13G/A
Feb 16, 2021	earnest partners llc	7.3%	4,726,748	SC 13G/A
Feb 10, 2021	vanguard group inc	10.27%	6,679,503	SC 13G/A

SANM Fair Value

Sanmina fair value in different scenarios

The table shows the Fair Value estimates for Sanmina for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	36.02 -38.08%	43.32 -25.53%	57.15 -1.75%	81.31 39.78%	103.63 78.15%
Current Inflation	33.33 -42.70%	39.61 -31.91%	51.37 -11.69%	71.64 23.16%	90.45 55.49%
Very High Inflation	29.96 -48.50%	35.06 -39.73%	44.43 -23.62%	60.35 3.75%	75.21 29.29%

Historical Sanmina Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Sanmina

View All Filings

Date Filed	Form Type	Document
Mar 20, 2023	3	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 16, 2023	8-K	Current Report
Feb 16, 2023	4	Insider Trading

Latest Insider Trading transactions for SANM

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Goldsberry John	acquired	179,977	57.19	3,147	-
2023-03-15	PRABHU KRISH A	acquired	179,977	57.19	3,147	-
2023-03-15	DELANEY EUGENE A	acquired	179,977	57.19	3,147	-
2023-03-15	Johnson Susan A	acquired	179,977	57.19	3,147	-
2023-03-15	ROSATI MARIO M	acquired	179,977	57.19	3,147	-
2023-03-15	Hedley David V III	acquired	224,985	57.19	3,934	-
2023-03-15	Licata Joseph G Jr	acquired	179,977	57.19	3,147	-
2023-02-15	ROSATI MARIO M	acquired	75,449	11.85	6,367	-
2023-02-14	BILLINGER BRENT	sold	-295,009	65.023	-4,537	svp & corp controller
2023-02-13	REID ALAN McWILLIAMS	sold	-562,633	65.301	-8,616	evp, global human resources

About Sanmina

Jure Sola

www.sanmina.com

35000

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 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 engages in the manufacturing of components, subassemblies, and complete systems. In addition, the company provides interconnect systems, such as printed circuit board fabrication, backplane, cable assemblies, and plastic injection moldings; mechanical systems comprising enclosures and precision machining; memory, storage platforms, radio frequency, optical, and microelectronic solutions; defense and aerospace products; 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 solutions industries. Sanmina Corporation was founded in 1980 and is headquartered in San Jose, California.

SANM Income Statement

2022-12-31

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Net sales	$ 2,361,361	$ 1,757,325
Cost of sales	2,170,654	1,612,836
Gross profit	190,707	144,489
Operating expenses:
Selling, general and administrative	60,730	61,475
Research and development	5,599	4,777
Restructuring and other	631	1,414
Gain on sale of long-lived assets	0	(4,610)
Total operating expenses	66,960	63,056
Operating income	123,747	81,433
Interest income	2,933	309
Interest expense	(8,681)	(4,877)
Other income (expense), net	(6,712)	2,072
Interest and other, net	(12,460)	(2,496)
Income before income taxes	111,287	78,937
Provision for income taxes	19,788	20,303
Net income before noncontrolling interest	91,499	58,634
Net Income (Loss) Attributable to Noncontrolling Interest	3,100	0
Net income attributable to common shareholders	$ 88,399	$ 58,634
Net income attributable to common shareholders per share:
Basic	$ 1.53	$ 0.91
Diluted	$ 1.48	$ 0.89
Weighted average shares used in computing per share amounts:
Basic	57,727	64,399
Diluted	59,867	66,233

SANM Balance Sheet

2022-12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Oct. 01, 2022
Current assets:
Cash and cash equivalents	$ 735,314	$ 529,857
Accounts receivable, net of allowances of approximately $8 million as of December 31, 2022 and October 1, 2022	1,308,651	1,138,894
Contract assets	501,893	503,674
Inventories	1,728,000	1,691,081
Prepaid expenses and other current assets	80,675	62,044
Total current assets	4,354,533	3,925,550
Property, plant and equipment, net	591,155	575,170
Deferred tax assets	189,638	198,588
Other	171,886	160,192
Total assets	5,307,212	4,859,500
Current liabilities:
Accounts payable	2,139,445	2,029,534
Accrued liabilities	292,212	275,735
Accrued payroll and related benefits	135,880	130,892
Short-term debt, including current portion of long-term debt	17,500	17,500
Total current liabilities	2,585,037	2,453,661
Long-term liabilities:
Long-term debt	325,007	329,237
Other	223,376	215,333
Total long-term liabilities	548,383	544,570
Contingencies (Note 7)
Stockholders’ equity	2,173,792	1,861,269
Total liabilities and stockholders’ equity	$ 5,307,212	$ 4,859,500