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Sanmina (SANM) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Jul 27, 2026 · Sanmina (SANM) Q3 FY26 earnings results →

Q3 FY26 Revenue up 70% year over year to $3.5B · 3¢ of every $1 of revenue kept as net profit · operating margin 6.4%

Sanmina made $3.5B in Q3 FY26 (+70% Y/Y): IMS Third Party Revenue $2.9B, CPS Third Party Revenue $516M. Operating margin 6.4%, net earnings $117M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 27, 2026.

Revenue$3.5B
Year over year+70%
Operating margin6.4%
Net earnings$117M
Operating cash flow$124M

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Sanmina Q3 FY26 revenue breakdown: Sankey diagram of revenue (IMS Third Party Revenue, CPS Third Party Revenue), costs, profit and cash flow
Sanmina Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.5B in Q3 FY26, up 70% year over year and down 14% from the previous quarter. IMS Third Party Revenue was the largest line at 85% of revenue. IMS Third Party Revenue added $1.3B year over year (up 80%), 92% of the total change.

Gross margin was 10.5%, up 1.6 points from Q3 FY25. Operating profit was $0.22B, a 6.4% margin (up 1.7 points year over year). Of the extra revenue versus Q3 FY25, 9% reached operating profit, above the 5% margin then. Operating expenses grew 67% against revenue growth of 70%. The fastest-growing cost line was Other operating costs (+224%). Net earnings were $0.12B, up 71% year over year. The effective tax rate was 34.7%.

Operating cash flow was $0.12B (down 38% year over year), 99% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.10B left free cash flow of $0.02B.

Quarterly history

Sanmina revenue by quarterSanmina revenue by quarter$2.0BQ4 FY24$2.0BQ2 FY25$2.0BQ3 FY25$2.1BQ4 FY25$3.2BQ1 FY26$4.0BQ2 FY26$3.5BQ3 FY26
Sanmina net earnings by quarterSanmina net earnings by quarter$61.4MQ4 FY24$64.2MQ2 FY25$68.6MQ3 FY25$48.1MQ4 FY25$49.3MQ1 FY26$93.6MQ2 FY26$117MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QJul 27, 2026$3.5B+70%6.4%$117M$124M
Q2 FY2610-QApr 27, 2026$4.0B+102%3.9%$93.6M$399M
Q1 FY2610-QJan 26, 2026$3.2B+59%2.3%$49.3M$179M
Q4 FY2510-KNov 13, 2025$2.1B+4%3.7%$48.1M$199M
Q3 FY2510-QJul 28, 2025$2.0B+11%4.7%$68.6M$201M
Q2 FY2510-QApr 28, 2025$2.0B+8%4.6%$64.2M$157M
Q4 FY2410-KNov 27, 2024$2.0B-2%4.4%$61.4M$51.9M

Charts

Sanmina: revenue growth, year over year and quarter over quarterSanmina: revenue growth, year over year and quarter over quarterY/YQ/Q-2%Q4 FY24+8%-2%Q2 FY25+11%+3%Q3 FY25+4%+3%Q4 FY25+59%+52%Q1 FY26+102%+26%Q2 FY26+70%-14%Q3 FY26
Latest (Q3 FY26): Y/Y +70%, Q/Q -14%.
Sanmina: where the cash came from (+) and went (−), TTM to Q3 FY26Sanmina: where the cash came from (+) and went (−), TTM to Q3 FY26Other financing$1.9BOther investing−$1.1BCash drawn (+) / kept (−)−$1.0BOperating cash flow$901MCapital spending−$307MNet borrowing (+) / repaid (−)−$306MTaxes on employees’ shares−$64.1MExchange rates−$989K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Sanmina: profit against cash, quarter by quarterSanmina: profit against cash, quarter by quarterNet incomeOperating cash flow$67.3M$51.9MQ4 FY24$70.9M$63.9MQ1 FY25$70.5M$157MQ2 FY25$72.9M$201MQ3 FY25$52.0M$199MQ4 FY25$51.8M$179MQ1 FY26$97.8M$399MQ2 FY26$125M$124MQ3 FY26
Latest (Q3 FY26): Net income $125M, Operating cash flow $124M.
Sanmina: diluted shares by fiscal yearSanmina: diluted shares by fiscal year71MFY2067MFY2163MFY2260MFY2357MFY2455MFY25
-22.1% since FY20: buybacks shrank the count.
Sanmina in its industry: growth against margin (11 companies, SIC 3672)Sanmina in its industry: growth against margin (11 companies, SIC 3672)revenue growth, year over year →↑ operating marginmedian +25%median 6%JBLFLEXCLSPLXSTTMIBHEKECTSKTCCNNDMSANM (+70%, 6%)
Printed Circuit Boards; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Sanmina

Sanmina Corporation (“we” or “Sanmina” or the “Company”) is a leading global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. We provide these comprehensive offerings primarily to original equipment manufacturers (“OEMs”) in the following industries: industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure. Our customer-focused organization with 39,000 employees, including 4,000 temporary employees, supports our customers from 20 countries on four continents. We locate our facilities near our customers and their end markets in major centers for the electronics industry or in lower-cost locations. The combination of our advanced technologies, extensive manufacturing expertise and economies of scale enables us to meet the specialized needs of our customers.

In its own words, from its 10-K, filed Nov 13, 2025.

Sanmina against its Printed Circuit Boards peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +70% against the peers' median +29%. Operating margin: 6.4% against the peers' median 6.0%.

CompanyQuarterRevenueY/YOp. margin
SANM SanminaQ3 FY26$3.5B+70%6.4%
JBL JabilQ4 FY26$10.6B+29%5.7%
FLEX FlexQ2 FY27$8.5B+25%4.9%
CLS CelesticaQ3 2026$5.8B+82%7.9%
PLXS PlexusQ4 FY26$1.4B+35%6.0%
TTMI TTM TechnologiesQ3 2026$1.2B+60%13.5%
BHE Benchmark ElectronicsQ3 2026$811M+19%3.8%
KE Kimball ElectronicsQ1 FY27$391M+7%3.2%
CTS CTSQ3 2026$150M+5%17.1%

Source: Sanmina 10-Q on SEC EDGAR · CIK 897723 · Printed Circuit Boards

Guidance and outlook

Sanmina Revenue: guidance against what was reportedSanmina Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 FY25$2.0BQ3 FY25$2.0BQ4 FY25$2.1BQ1 FY26$3.2BQ2 FY26$4.0BFY26Q3 FY26$3.5BQ4 FY26
Met or beat 7 of 7 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns SANM and who is buying

Largest holders of SANM (13F)Largest holders of SANM (13F)FMR LLC$2.0BBlackRock$1.4BVanguard Group$1.0BVanguard Portfolio Management LLC$772MVanguard Capital Management LLC$589MInvesco$548MState Street$429MJane Street Group, LLC$385MDimensional Fund Advisors LP$340MGeode Capital Management, LLC$305M
Funds' net buying of SANM by quarter (13F)Funds' net buying of SANM by quarter (13F)$31.1M2024-09−$2.7M2024-12−$90.7M2025-03$148M2025-06$236M2025-09$112M2025-12−$276M2026-03−$993M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SANM

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Sanmina（SANM）财报

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