Sanmina Corp
NASDAQ:SANM

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Sanmina Corp
NASDAQ:SANM
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Price: 160.76 USD 2.1% Market Closed
Market Cap: 8.8B USD

Sanmina Corp
Investor Relations

Sanmina Corporation is an intriguing player in the complex world of manufacturing solutions. Founded in 1980, this Silicon Valley-based company has navigated through the dizzying evolution of technology over the decades. At its core, Sanmina is a global leader in providing comprehensive end-to-end design, engineering, and manufacturing services. It caters to a diverse range of industries, including communications, computing, multimedia, industrial, and defense sectors. The company's expertise lies in its ability to manage the entire supply chain seamlessly, from concept development to aftermarket services, ensuring that clients get not just products, but complete solutions tailored to fit their specific needs.

Revenue generation at Sanmina is driven by its symbiotic relationships with clients, built on trust, precision, and reliability. The company's business model revolves around creating and managing complex electronic manufacturing solutions that involve printed circuit board assembly, system assembly, and other high-value services. Sanmina distinguishes itself by maintaining a global footprint, with facilities spread across key locations worldwide, allowing it to provide localized support and streamlined logistics. Its commitment to quality and innovation helps clients reduce time-to-market while controlling costs, making Sanmina a valuable partner in an era where speed and efficiency are critical to staying competitive. This blend of market expertise and operational efficiency positions Sanmina as a cornerstone in the technology manufacturing landscape.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Nov 3, 2025
AI Summary
Q4 2025

Strong FY25 Results: Sanmina reported fiscal 2025 revenue of $8.13 billion, up 7.4% year-over-year, with operating margin and EPS both improving.

Q4 Performance: Fourth quarter revenue reached $2.1 billion, with EPS of $1.67, both at or above the high end of guidance.

Margin Expansion: Operating and gross margins expanded year-over-year, with Q4 non-GAAP gross margin at 9.4% and operating margin at 6.0%.

Cash Flow Strength: Fiscal 2025 cash flow from operations was $621 million, supporting investments and shareholder returns.

ZT Systems Acquisition: Closed the transformative acquisition of ZT Systems, adding scale and cloud/AI capabilities; ZT is operating at a $5–6 billion annual run rate.

Outlook Raised: Management now aims to double company revenue to $16 billion within two years, faster than previously targeted.

Q1 FY26 Guidance: Expects revenue of $2.9–$3.2 billion, operating margin of 5.6–6.1%, and EPS of $1.95–$2.25, with strong growth anticipated in both legacy and ZT businesses.

Key Financials
Revenue
$8.13B
Operating Margin
5.7%
EPS
$6.04
Cash Flow from Operations
$621M
Q4 Revenue
$2.1B
Q4 Operating Margin
6.0%
Q4 Gross Margin
9.4%
Q4 EPS
$1.67
IMS Revenue
$1.68B
IMS Gross Margin
7.8%
CPS Revenue
$448M
CPS Gross Margin
14.5%
Non-GAAP Gross Profit
$196M (Q4), $744M (FY25)
Non-GAAP Operating Income
$126M (Q4), $465M (FY25)
Q4 Free Cash Flow
$137M
FY25 Free Cash Flow
$478M
Cash and Cash Equivalents
$926M
Inventory (net of customer advances)
$1.1B
Inventory Turns (net of customer advances)
6.7x
Pretax ROIC
28.3%
Net Capital Expenditures
$62M (Q4), $142M (FY25)
Share Repurchases
1.44 million shares for $113.7M (FY25)
Authorized Share Repurchase Program Remaining
$239M
Q1 FY26 Revenue Guidance
$2.9B to $3.2B
Q1 FY26 Legacy Revenue Guidance
$2.05B to $2.15B
Q1 FY26 ZT Systems Revenue Guidance
$850M to $1.05B (2 months post-closing)
Q1 FY26 EPS Guidance
$1.95 to $2.25
Q1 FY26 CapEx Guidance
$85M
Q1 FY26 Depreciation Guidance
$45M
Earnings Call Recording
Other Earnings Calls

Management

Mr. Charles C. Mason
Executive Vice President of Worldwide Sales
No Bio Available
Mr. Brent Billinger
Principal Accounting Officer, Senior VP & Corporate Controller
No Bio Available
Ms. Paige Melching
Senior Vice President of Investor Communications
No Bio Available
Mr. Christopher K. Sadeghian
VP of Legal, Corporate Secretary & Acting General Counsel
No Bio Available
Mr. Michael J. Clarke
Advisor
No Bio Available
Mr. Ramakrishna Pillai
President of Components Technology
No Bio Available
Mr. Marco Gonzalez Hagelsieb
Chief Operating Officer of Americas IMS
No Bio Available
Mr. Vishnu Gangaswamy Venkatesh
Senior Vice President of Finance Transformation
No Bio Available
Mr. Brian P. Casey
Senior VP & Treasurer
No Bio Available

Contacts

Address
CALIFORNIA
San Jose
2700 N 1st St
Contacts
+14089643500.0
www.sanmina.com