Sanmina Corporation

SANM

Hardware, Equipment & Parts · Technology

Price

$197.24

-0.81 (-0.41%)

Market Cap

$10.57B

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−19.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 68.8M (2021) → 55.2M (2025)

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 fulfill

Winston Score History

Politician Trades

1 trades / 12mo

0 Congressional buys and 1 sell on SANM in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+102.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+45.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$31M/ year

↑ Rising (+9% vs prior year)

0.4% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Insider Activity

3.2%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$1.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Sanmina Corporation grew revenue 102% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

8.8%

Thin — 8.8% gross margin

Operating Margin

5.7%

Thin — 5.7% operating margin

ROCE

5.0%

Weak — 5.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+14.0%

Fast-growing sales (14.0% YoY)

EPS YoY

+30.6%

Earnings growing fast (30.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

348%

Turns 348% of profit into real cash

FCF Margin

7.6%

Modest free cash flow (7.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.90

Moderate — manageable debt (0.90)

Interest Cover

10.54x

Comfortably covers interest (10.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

38.8x

Pricey — P/E 38.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+21.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (38.8 → 17.7)

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Dividends

Not applicable for this business.

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