AI & Infrastructure CapexAI 与基础设施资本开支
Sanmina Corporation
SANM —Price and target zones价格与目标区间
Above the sell price高于卖出价
What the company does公司做什么
Sanmina is a contract manufacturer of electronics. Other companies design a product and pay Sanmina to build it — circuit boards, cable assemblies, and complete complex systems. It builds; it does not design or brand.Sanmina 是一家电子产品代工制造商。别的公司设计出产品，然后付钱让 Sanmina 来制造——电路板、线缆组件，以及完整而复杂的整机系统。它只负责制造；不做设计，也不做品牌。
Earns from营收来源 manufacturing fees, mostly for complex, regulated products in defence, medical, and industrial markets.制造费用，主要来自国防、医疗和工业市场里那些复杂的、受监管的产品。
Read the full description查看完整介绍
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. 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.
What the company sells公司卖什么
Plus:此外： Integrated Manufacturing Solutions集成制造解决方案 (80%) — Assembling and testing circuit boards and complete systems. FY2024 revenue was about $6.0 billion组装和测试电路板及完整系统。FY2024 收入约为 $6.0 billion; Components, Products and Services组件、产品与服务 (20%) — Its own circuit boards, backplanes, cables, machined parts, and manufacturing software自有的电路板、背板、线缆、机加工零件和制造软件.
Company facts公司资料
- Founded成立时间
- 1980
- Headquarters总部
- San Jose, California
- Employees员工人数
- 35,000
- Industry行业
- Electronic Components
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
✂️ Trim window closing. Q3 FY26 (7/27) beat — EPS $3.31 vs $2.83, revenue $3.46B at the high end — yet −16%, and revenue stepped down sequentially from Q2's $4.01B. 12.9x fwd, tgt $260.
✂️ 减仓窗口正在关闭。FY26 Q3（7/27）超预期 —— EPS $3.31 对比 $2.83，营收 $3.46B 处于区间高端 —— 但股价却 −16%，而且营收环比从 Q2 的 $4.01B 下降。12.9x 前瞻(市盈率)，目标价 $260。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 12%
- Revenue growth营收增长
- +70%
Competitors竞争对手
Why customers stay客户为什么留下
Scale, and a focus on complex, mission-critical products in regulated markets where a customer cannot switch builder easily. The weakness is structural: contract manufacturing runs on thin margins — an 8.5% gross margin in FY2024 — and is cyclical, so revenue fell about 15% that year.规模，加上专注于受监管市场里那些复杂的、关键任务级的产品——在这些领域客户没法轻易换掉代工厂。它的短板是结构性的：代工制造利润很薄——2024财年毛利率只有8.5%——而且有周期性，所以那一年收入下滑了约15%。
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Size the bucket, not the name. (ORCL's own analysis says this.)
Recent news近期新闻 last 7 days近7天
- Sanmina (SANM) Upgraded to Strong Buy: What Does It Mean for the Stock?Zacks
- Why Sanmina (SANM) Is Down 24.7% After Raising 2026 Revenue Outlook On AI Infrastructure DemandSimply Wall St.
- Is SANM Stock a Buy After Strong Earnings and Higher AI Demand?Zacks
- How SANM is Turning Revenue Growth Into Higher ProfitabilityZacks
- Can Sanmina Keep Winning in the AI Infrastructure Buildout?Zacks
- Sanmina Q3 Earnings Call Signals AI Infrastructure Growth StrategyZacks