Is the business good?
How good a business is SANM?
Sanmina Corporation earns 10.0% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
10.0%
Return on invested capital · cost of capital 9.0% · 0.97 points above what the capital costs: growth creates value
- Operating margin
- 3.6%
Operating margin · Electronic Components median 9.6% · 12 months to Q2 2026
- Cash conversion
- 2.83×
Cash conversion · 1.10× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.73%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 3.1% |
| FY2021 | 3.8% |
| FY2022 | 4.4% |
| FY2023 | 5.1% |
| FY2024 | 4.4% |
| FY2025 | 4.4% |
Details›
- Gross margin12 months to Q2 2026
- 8.5%
- Operating margin12 months to Q2 2026
- 3.6%
- Net margin12 months to Q2 2026
- 2.3%
- Free cash flow margin
- 6.5%
- R&D as % of revenue
- 0.29%
- Revenue, trailing twelve months
- $11.3B
- Free cash flow, trailing twelve months
- $734M
- Net income, trailing twelve months
- $260M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electronic Components
Ranks #14 of 23 by Smart Score