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Forensic Analysis · Communications Equipment & Electronic Components · as of Nov 8, 2026

Sanmina Corp (SANM)

A forensic read on Sanmina Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Grey Zone
Financial health
2.1
Distress distance
Clean
Earnings quality
2
Forensic signals
10.0%
ROE
7.4%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Sanmina Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.1, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

85d
FY2024→FY2025
Inventory days. Days inventory outstanding moved from 77 to 85 FY2024→FY2025 (against cost of goods sold; inventory +38% vs +7% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
12.6%
FY2025
Return on invested capital. Return on invested capital is 12.6% in the latest fiscal year and slipping across FY2023–FY2025 from 16.4%. After-tax operating profit was $362M in FY2023 and $278M in FY2025, with operating income at 5.1% of revenue in FY2023, 4.4% in FY2024 and 4.4% in FY2025. The capital base behind it went from $2.2B in FY2023 to $2.2B in FY2025 (0%), while the revenue it carried went from $8.9B to $8.1B.

Key fundamentals

Latest Revenue$8.13B
Revenue Growth YoY+7.4%
Revenue CAGR (2yr)-4.6%
Net Margin3.0%
Free Cash Flow$473.3M
Return on Equity10.0%
Debt / Equity0.12x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.