Sanmina Corporation (SANM) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Sanmina Corporation stock $126, price $130, that is 2.9% below the price, quality 63 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $35.82 – $282.72 · fair‑value band $94.91 – $160.57 · the $130.23 price screens above the $126.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.
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The company operates through two businesses: Integrated Manufacturing Solutions; and Components, Products and Services.
The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engaging in the manufacture of components, subassemblies, and complete systems; and direct order fulfilment and logistics services.
In addition, the company provides components, such as printed circuit boards, backplane fabrication and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts, and plastic injected molded parts; memory solutions; storage platforms; optical, radio frequency, and microelectronic solutions; defense and aerospace products, design, manufacturing, repair, and refurbishment services; and cloud-based manufacturing execution software.
It offers its products and services primarily to original equipment manufacturers in the industrial, medical, defense and aerospace, automotive, communications networks, and cloud infrastructure industries. The company was formerly known as Sanmina-SCI Corp.
Sanmina Corporation was incorporated in 1980 and is headquartered in San Jose, California.
Stock analysis
Sanmina Corporation (SANM) currently trades at $130.23, while our model-based Fair Value estimate is $126.47, so the stock looks roughly fairly valued today (gap 3.0%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $130.82 per share, and 7 of the 24 models we run sit above the $130.23 price.
Bear case: the Asset-Based group reads lowest at $25.40, and 17 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $94.91 (bear) to $160.57 (bull), the price of $130.23 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sanmina Corporation reported revenue of $8.1B in FY2025 versus $6.7B in FY2021, a compound +4.8%/yr. Reported net income was $246M in FY2025, compounding −0.4%/yr from FY2021.
Key figures
Market cap $9.2B Mid · P/E ratio 23.0 · P/S ratio 0.72 · EPS (TTM) $5.67 · Net margin 2.4% · Return on equity 12.5% · Return on assets (EBIT) 7.1% · Operating margin 7.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 54% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −24% fair-value upside, at −3%, SANM screens cheaper than that median.
Fair Value models
Bear$94.91Fair Value $126.47Bull$160.57
Price $130.23 · Downside -2.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($5.67 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 3 officers or directors sold shares worth $4.2M and none bought.
SaleSusan A JohnsonDirector2× since Aug 28, 2026: 240 shares, avg. $201.58$48,378Sep 17, 202610b5-1 plan
SaleJonathan P FaustEVP & CFO2× since Feb 24, 2026: 20,151 shares, avg. $212.55$4.3MMay 29, 2026
SaleALAN McWILLIAMS REIDEVP, Global Human Resources6× since Feb 13, 2026: 13,000 shares, avg. $209.56$2.7MMay 26, 2026
SaleJure SolaChairman & CEO118,368 shares at $228.84$27.1MMay 6, 2026
SaleDavid Hedley V IIIDirector2× since Feb 24, 2026: 1,524 shares, avg. $181.08$275,965May 1, 2026
SaleVishnu VenkateshOfficer2× since Dec 17, 2025: 2,967 shares, avg. $197.97$587,380Apr 30, 202610b5-1 plan
SaleJoseph G Licata JrDirector26,565 shares at $211.03$5.6MApr 29, 2026
SaleMythili SankaranDirector3,424 shares at $145.95$499,733Feb 19, 2026
SaleCharlie MasonEVP & Global Sales13,150 shares at $147.21$1.9MFeb 5, 2026
BuyMichael J LoparcoDirector700 shares at $142.46$99,722Jan 30, 2026
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.2%
Start year 2020 (pandemic). Over 10 years: +2.5% a year
Revenue growth 34 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+17.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.17.7% vs 6.5%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+37.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +3.6% a year for the price and +33.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Rapid scaling of cloud and AI infrastructure via the ZT Systems acquisition forms the main strength, yet the commodity-like EMS business with thin margins and average capital returns remains the central weakness.
Main risk: A loss or sharp reduction in orders from its top ten customers, which account for over half of revenue and include hyperscalers, could sharply cut sales and margins.
Bull case: Sanmina could deepen vertical integration and long-term contracts with hyperscalers through its ZT and AMD partnerships, stabilising revenue even if individual customer orders fluctuate.
Bear case: If key hyperscaler customers reduce spending or bring manufacturing in-house while debt service rises, Sanmina could face sustained revenue declines and strained cash flows.
Sanmina has rapidly scaled its cloud and AI infrastructure capabilities through the ZT Systems acquisition, with that business driving most of the 70 percent revenue jump in the latest quarter. At the same time the company continues to serve a broad mix of industrial, medical and defense customers with full manufacturing and supply chain solutions. Our models see the shares as overvalued. Will the AI-driven segment keep lifting results more than any softening in the traditional areas pulls them back?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Components · 650 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−2.9% · Above median
Profitability
Return on equity (12 months)12.5% · Above median
Return on assets4.2% · Above median
Net margin (12 months)2.4% · Below median
Operating margin (12 months)7.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)69.7% · Top 25%
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)23.0× · Cheaper than median
P/B3.92× · Priciest 25%
P/S (12 months)0.72× · Cheapest 25%
Price / free cash flow (fiscal year)19.5× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Sanmina Corporation Fair Value". https://www.fairvalue-calculator.com/stock/SANM
Frequently asked questions
Is Sanmina Corporation (SANM) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $126.47 versus a price of $130.23, about 3% lower (fairly valued).
What is the fair value of SANM?
Our model-based fair value for Sanmina Corporation is $126.47 (as of Nov 4, 2026), built from audited fundamentals. The current price: $130.23.
What is the quality score of SANM?
Sanmina Corporation has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sanmina Corporation (SANM)?
Our model-based price target is the fair value of $126.47 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $94.91, optimistic scenario $160.57. It is a calculation from audited fundamentals, not an analyst target.
What is the Sanmina Corporation stock forecast for 2026?
Our models put fair value at $126.47, about 3% lower versus a price of $130.23 (fairly valued). Cautious scenario $94.91, optimistic scenario $160.57. The calculation is refreshed regularly with new filings.
What is the revenue of Sanmina Corporation (SANM)?
Sanmina Corporation reported trailing-twelve-month revenue of about $12.8B (latest available figure, as of Nov 4, 2026).
What growth is priced into Sanmina Corporation (SANM)?
For today's price to be fair in a discounted-cash-flow model, Sanmina Corporation would have to grow free cash flow by +6.1 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.2 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of SANM use?
Our models discount Sanmina Corporation at 11.2 %: a base by market capitalisation (mid), damped by beta 1.61, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Sanmina Corporation that is +6.1 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Sanmina Corporation (SANM) delivered so far?
Over the past 5 years revenue at Sanmina Corporation grew +3.2 % a year. The price currently implies +6.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Sanmina Corporation (SANM) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Sanmina Corporation (+6.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sanmina Corporation (SANM)?
The free-cash-flow yield on the price is 6.59 %: that much free cash flow Sanmina Corporation produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sanmina Corporation (SANM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sanmina Corporation it is $126.47 per share (as of Nov 4, 2026), against a price of $130.23. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Sanmina Corporation stock overvalued or undervalued in 2026?
As of Nov 4, 2026, SANM trades above its calculated fair value: price $130.23, fair value $126.47, a gap of about −3% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SANM?
No. The price is what the market pays today ($130.23); the fair value is what the company's own numbers justify ($126.47). For Sanmina Corporation the two are $3.76 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sanmina Corporation worth?
The market values Sanmina Corporation at about $9.2B (market capitalisation, as of Nov 4, 2026). Per share that is $130.23; our models calculate a fair value of $126.47 per share.
What do the bullish and bearish scenarios say about SANM?
Our models span a range for Sanmina Corporation: cautious scenario $94.91, base $126.47, optimistic $160.57 per share (as of Nov 4, 2026, price $130.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SANM?
Sanmina Corporation trades at a price-to-earnings ratio of 23.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $126.47 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 14.4. Other multiples: PEG 0.7, P/B 3.9, P/S 0.7, EV/EBITDA 9.9.
What is the PEG ratio of SANM?
The PEG ratio of Sanmina Corporation is 0.74 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Sanmina Corporation (SANM)?
Balance-sheet figures for Sanmina Corporation (as of Nov 4, 2026): return on equity 12.5%, debt of 0.12 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is SANM from its 52-week high?
Sanmina Corporation trades at $130.23, about 54% below its 52-week high of $282.72 and 6% above the low of $122.86 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $126.47 is for.
Which stocks are comparable to Sanmina Corporation?
From the same area (Technology) we also value Amphenol Corporation, Corning Incorporated, Delta Electronics, Inc, TE Connectivity plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sanmina Corporation stock attractive at the current price?
The data as of Nov 4, 2026: price $130.23, calculated fair value $126.47 (−3%), Quality Score 63/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SANM calculated?
We run Sanmina Corporation through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $126.47, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Sanmina Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sanmina Corporation (SANM)?
The closing price on Nov 5, 2026 was $130.23. Our model-based fair value is $126.47, about 3% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sanmina Corporation right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Sanmina Corporation
How large is the market capitalisation of Sanmina Corporation (SANM)?
The market capitalisation of Sanmina Corporation is $9.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sanmina Corporation (SANM)?
The price-to-sales ratio of Sanmina Corporation is 0.72 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sanmina Corporation (SANM)?
Earnings per share at Sanmina Corporation are $5.67 (price ÷ EPS = P/E 23.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sanmina Corporation (SANM)?
The net margin of Sanmina Corporation is 2.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sanmina Corporation (SANM)?
The return on equity (ROE) of Sanmina Corporation is 12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sanmina Corporation (SANM)?
On an EBIT basis the return on assets of Sanmina Corporation is 7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sanmina Corporation (SANM)?
The operating margin of Sanmina Corporation is 7.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sanmina Corporation (SANM)?
Revenue at Sanmina Corporation is growing +69.7% versus a year earlier (3y avg +0.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sanmina Corporation (SANM)?
Earnings per share at Sanmina Corporation are growing +68.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Sanmina Corporation (SANM) hold?
Sanmina Corporation holds more cash than debt, $572M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 4, 2026