Sanmina
Builds complex electronics and AI data-center systems for OEMs across mission-critical markets.
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Profile
Manufactures complex electronics and complete systems for OEMs across industrial, medical, defense, automotive, communications, and cloud infrastructure markets. Revenue is dominated by assembly and integration work, now including ZT Systems' AI data-center manufacturing operations, while in-house components, design, software, repair, and logistics provide vertical integration.
Builds complex electronic hardware for OEMs through Integrated Manufacturing Solutions, spanning printed-circuit-board assembly, testing, full-system integration, and fulfillment. The ZT Systems manufacturing business acquired from AMD adds AI and general-purpose data-center infrastructure for hyperscale customers.
Components, Products and Services supplies circuit boards, backplanes, cable assemblies, machined parts, memory, storage, optical and microelectronic products, plus design, repair, and logistics. This vertical integration serves industrial, medical, defense and aerospace, automotive, communications-network, and cloud and AI programs across the Americas, Asia, and Europe.
Most sales now come from assembly and integration, while components and related products generally carry higher margins. Customer concentration, tariffs, supply availability, and export and government-contract rules shape execution; major supply agreements typically do not commit customers to minimum purchase volumes.
Company facts
Key statistics
Year to date +21.8% · Average volume (30d) 776.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Jan 28, 2026 | Argus Research | Reiterate | Buy | $200 | |
| Jan 29, 2025 | B of A Securities | Upgrade | Underperform | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q3 FY26 | $2.77 | $3.31 | +19.5% | $3.40B | $3.46B | +2.0% | −17.46% |
| Apr 27, 2026Q2 FY26 | $2.42 | $3.16 | +30.6% | $3.28B | $4.01B | +22.2% | +14.56% |
| Jan 26, 2026Q1 FY26 | $2.15 | $2.38 | +10.7% | $3.08B | $3.19B | +3.7% | −21.56% |
| Nov 3, 2025Q4 FY25 | $1.57 | $1.67 | +6.4% | $2.06B | $2.10B | +1.9% | +16.56% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.98B | $2.04B | $2.10B | $3.19B | $4.01B | $3.46B | |
| Gross profit | $176.2M | $181.1M | $191.2M | $241.2M | $353.8M | $363.3M | |
| Operating income | $91.6M | $95.9M | $78.5M | $117.6M | $230.4M | $222.7M | |
| Net income | $64.2M | $68.6M | $48.1M | $49.3M | $93.6M | $117.1M | |
| Diluted EPS | $1.16 | $1.26 | $0.88 | $0.89 | $1.70 | $2.12 | |
| Gross margin | 8.9% | 8.9% | 9.1% | 7.6% | 8.8% | 10.5% | |
| Operating margin | 4.6% | 4.7% | 3.7% | 3.7% | 5.7% | 6.4% |
Fiscal years (4-quarter sums)FY21 $6.76B · FY22 $7.90B · FY23 $8.94B · FY24 $7.58B · FY25 $8.13B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $1.84B · Total debt $2.43B · Total assets $9.74B · Shareholders' equity $2.56B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 53.60M · Float 51.88M · 96.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 8.03M | 14.99% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 5.50M | 10.25% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 3.05M | 5.69% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.33M | 4.34% | 13F | Aug 13, 2026 |
| Invesco Ltd. | 2.17M | 4.04% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 29, 2026 | Jonathan P. Faust | officer: EVP & CFO | −10,076 | $265.80 |
| May 26, 2026 | ALAN McWILLIAMS REID | officer: EVP, Global Human Resources | −5,000 | $254.39 |
| May 8, 2026 | ALAN McWILLIAMS REID | officer: EVP, Global Human Resources | −1,000 | $248.60 |
| May 6, 2026 | Jure Sola | officer: Chairman & CEO | −118,368 | $228.84 |
| May 4, 2026 | ALAN McWILLIAMS REID | officer: EVP, Global Human Resources | −1,000 | $225.00 |
Peers
- Jabil
Dominant EMS peer at $29.8B revenue competing across all Sanmina end-markets.
- Flex
$25.8B EMS peer across industrial, medical, cloud, and AI infrastructure.
- Celestica
Fast-growing EMS and HPS provider at $12.4B, strong in cloud/AI and aerospace.
- Super Micro Computer
AI rack-scale server leader at $40B+ FY2026, direct post-ZT AI system overlap.
- Plexus
High-mix IMD EMS specialist at $4B, directly mirroring Sanmina’s core niche.
- Benchmark Electronics
$2.7B high-complexity IMD EMS peer overlapping on semi-cap, medical, and A&D.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sanmina | $194.01 | +0.01% | $10.40B | 34.7 | 15.4 | 0.8 | +69.7% |
| Jabil | $303.90 | +0.82% | $31.59B | 37.6 | 19.1 | 0.9 | +11.8% |
| Flex | $110.65 | +0.15% | $40.82B | 42.7 | 21.2 | 1.4 | +20.6% |
| Celestica | $299.55 | +0.25% | $34.35B | 31.0 | 19.7 | 2.2 | +61.3% |
| Super Micro Computer | $37.08 | 0.00% | $23.99B | 11.4 | 8.5 | 0.6 | +93.2% |
| Plexus | $240.87 | +0.00% | $6.44B | 35.6 | 24.0 | 1.4 | +28.1% |
| Benchmark Electronics | $72.70 | +1.88% | $2.56B | 48.5 | 22.3 | 0.9 | +17.7% |
| Median | 36.6 | 20.4 | 1.2 | +24.4% |