# Sanmina  Corp (SANM) — Stock CV

Sanmina  Corp is a $11.6B technology company. Revenue grew 58.6% over the last year, it keeps 2¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 37.8× earnings — near the highest of its own history.

> Sanmina Corp is a provider of integrated manufacturing solutions, components, and after-market services to original equipment manufacturers in the communications networks, storage, industrial, defense, and aerospace end markets.

## Identity

- **Ticker**: SANM
- **Sector**: Technology
- **Industry**: Printed Circuit Boards
- **Headquarters**: SAN JOSE, CA
- **Employees**: 39 000
- **Website**: https://www.sanmina.com
- **Market cap**: $11.6B
- **Last price**: $217.00
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $12.8B
- **Net income**: $308M
- **Free cash flow**: $594M
- **Net cash**: $626M
- **P/E**: 37.8
- **Revenue growth (YoY)**: 58.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 51 |
| Profitability | 35 |
| Health | 86 |
| Quality | 90 |
| Moat | 50 |

## Qualifications (beginner checklist) — 10 of 10 passed

- [x] Revenue growing — +58.6% YoY
- [x] Profitable — $308M TTM
- [x] Profit growing — +5.4% YoY
- [x] Generates cash — $594M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $11.6B market cap
- [x] Not printing shares — -22.1% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [x] Financially stable — Altman Z 2.4 — grey
- [x] Valuation not extreme — P/E 37.8

## Experience (career milestones)

- **FY2023** — Best year on record: $310M net income
- **FY2019** — Became debt-free: cash now exceeds total debt
- **FY2016** — First recorded profitable year: $188M net income
- **FY2016** — Revenue already above $1B: $6.48B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak

## Strengths

- Revenue growing 58.6% year over year
- Net cash position after subtracting debt from cash
- Could repay net debt from ~1.0 years of free cash flow
- Interest covered 80.0× by operating earnings

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $6.76B | $269M | $265M |
| FY2022 | $7.89B | $256M | $192M |
| FY2023 | $8.94B | $310M | $43.8M |
| FY2024 | $7.57B | $223M | $229M |
| FY2025 | $8.13B | $246M | $473M |

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Source: https://stockcv.com/SANM — derived from company filings; may be delayed or incomplete. Information, not investment advice.